3 ways to put a business advisor to work for you

When Boreal Heartland Herbal Products opened in 2017, manager Randy Johns knew he had his marketing work cut out for him.

The Indigenous-owned and operated tea, mushroom and herb company located in Air Ronge, Sask., about 400 kilometres north of Saskatoon, creates unique food products that most consumers have never heard of.

Over the years as the business grew, Johns identified other areas where he felt Boreal Heartland could benefit from specialized knowledge. After discussing their needs with Milton Greyeyes, FCC Senior Relationship Manager of Indigenous Lending, Johns took these three steps to set Boreal Heartland on a solid path to success.

1. Form strategic partnerships

Working with business advisors meant Johns gained access to customized advice opportunities. As a result, Boreal Heartland expanded its industry knowledge and connections and found solutions to tangible business challenges such as planning strategies, pricing structure and digital marketing.

Johns always knew he wanted to focus more on the marketing of Boreal Heartland. Advisors helped identify priorities, such as serious exploration of retail sales and ramped up online sales, to prepare to reach Boreal Heartland’s long-term goals.

2. Learn as much as you can

Boreal also benefited from product analysis and costing through an introduction to spreadsheets. The effective use of spreadsheets and tracking helped Boreal Heartlands track manufacturing costs, how they relate to pricing, and how, for example, discounts impact profits.

The skilled and knowledgeable business advisors taught Johns how to optimize spreadsheets to deliver important business financial information. Johns calls it one of the most valuable takeaways of the partnership.

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