Whiteout's Ice Fishing

Here to provide you with all your ice fishing needs! We offer: Ice hut transport/relocating services, equipment rentals, minnow delivery service, wood delivery and food/beverage options                 

[taywhite]

Week 13 Progress Update

Throughout this course I have made some conclusions about running and operating an independent business. First of all, a solid business model is the most important foundation that any business will stand on. Second of all, despite money being important, business is really about people, and your interactions with people (i.e. customers, co-workers, fellow business owners, etc.) and that is where the focus should be. And lastly, I think it is essential that you choose a business that you enjoy and are passionate about!

In my first Tumblr post I stated that when thinking about entrepreneurship skills, and my own growing experience in the business world, it is critical to examine my strengths and weaknesses so that I can continue to build marketable characteristics in myself that reflect my business endeavours. Throughout this course, and while running Whiteout’s Ice Fishing, I believe I have continued to reinforce my strengths and improve upon my weaknesses. This project has really helped me focus more on the big picture instead of worrying too much about small details which have little to no impact on the business. I also found that managing my business in a family-setting has helped me to improve upon my delegation skills as I have been able to share responsibility with my family members and trust them to execute tasks successfully. I have continued to build on my communication and financial literacy skills as well. I believe this project has also allowed me to self-reflect more impartially as I am not so prone to harsh self-criticism.

I believe that my business’ biggest successes have been our solid customer relations, providing quality services which were executed with pride in our work, maintaining a reputable name and working environment and taking feedback of customers into consideration when evolving the business going forward. All these successes accumulated in a positive experience for both customers and myself. My business also had some setbacks, which included; maintaining business within the changing weather, the need for a broader bait selection, shortage of equipment and my own time management.  

I really enjoyed working on Whiteout’s Ice Fishing and perhaps will continue this business in the future!

[taywhite]

Week 12 Progress Update

What is working?

The best thing this business has going for it is our positive customer relations and I am proud to report that we have maintained these relations with our customers throughout the entire season. Not only does this help our brand and reputable but also clearly displays our quality services through customer reviews and word-of-mouth. In addition, since this is

What is not working?

What has not been working very well is maintaining our business with the changing weather. Despite attempting to lay a flexible business foundation, it has been difficult to navigate how to best evolve the business during the summer. It is in our best interest to start communicating with our existing customer bases to see what they could see being a useful stream to offer through the summer. In doing this it would help us be able to withhold our pre existing customers and offer them with the solutions they are looking for in the summer fishing months.

How do you feel the project is coming?

The project has come along nicely (as I have discussed throughput these past posts), however due to the seasonal component of the business we are essentially closed down for the year with the ice melting off the lakes. In the meantime, we have been working on promoting for next year, getting more partnerships with local businesses and thinking of ways of continuing the business throughout the summer (i.e. ice hut storage throughout the off season and fishing supplies rentals for summer fishing, etc).

What are you learning about running a business?

I have learned countless things while running this business and I continue to learn more and more every month of running. This week the most important thing that stuck out to me about running your own business was the fact that you always have to be thinking ahead of the market. Even though things were going great in the winter and we were constantly coming up with more way to improve our business strategy we ceased to start brainstorming ideas for the summer months of the year. While running the company I learned that if I had been thinking ahead I may have been able to provide a smooth transition into the summer months. I will use this past learning block to make my company stronger and this time I will remember to always be ahead of the market.

What are you learning about yourself?

There has been lots of self growth over these past 12 weeks, running my own company. Each week I have learned more about who I am and what I am capable of doing and I found this very motivating and often found my self striving for greater success. However this week I learned that it is still important to take time off away from the job in order to recharge and come up with more ideas and energy. This past week for the first time in awhile I took two days off to spend with my spouse to go for a four wheeler ride and enjoy the amazing weather. After returning back to work and focusing on the task at hand I found myself very diligent and full of new ideas and energy to tackle them. All in all I learned that it is okay and actually good to take a break sometimes.

[taywhite]

Week 11 Progress Update

what is working?

Our company has mainly succeeded by maintaining a reputable name and brand. We have managed to take care of all our customers with a smile and been able to provide a positive fishing experience for all out customers. We take pride in our delivery services and healthy working environment. We have noticed that this has been a huge contributor to business success. Happy customers lead to better feedback and more recommendations which will increase our business both short-term and in the long-run.   

what is not working?

This week we have noticed that we may need to increase/broaden our bait selection. We had two separate occasions where customers have asked if we had leaches or worms in addition to our minnows. This was typically not the case as our stock was initially limited. In the future we will look into stocking these baits it may open up another revenue stream. In order to stock these baits it will be beneficial to reach out to our local bait stores to ensure that they can offer these to us at a discounted price similar to the minnow deal we have with them already. 

how do you feel the project is coming?

The project has progressed well thus far and we believe we are about to enter into one of our slower times of the year. We will need to start preparing for the season change and think of alternative services which we can provide in the summer months. Our income will decrease as the snow melts so it is important that we have laid a strong and flexible business foundation. I believe that our company has come along nicely through all the difficult situations we have faced throughout the year so far. I also believe this project has really opened up my mind to many business related problems/solutions and has helped me develop my entrepreneurship skills.

what are you learning about running a business?

I am learning all of the difficult tasks that small businesses face. This project really has pushed me to learn the differences between a micro and macro business plan and the alternate ways of operating. Because we are such a small business it makes budgeting and margins much tighter. With a large business it make it easier when ordering products and the ability to offer baits and tackle at a much more affordable price. However with the small company that we are it makes managing our relationships with customers a lot easier and more friendly. This is what I believe pushes us past our larger competitors.

what are you learning about yourself?

I am learning that running a business can be very difficult and stressful, however maintaining a positive mindset is a must in order to keep a business running strong. Throughout the tough endeavours we faced this week we have strived for positivity and it ended up working out in the end.

[taywhite]

Week 10 Progress Update

what is working?

Similarly to last week our company has noticed a large upswing in business, however we are starting to notice the largest income for us (ice hut transportation) is starting to dry up. As we shuffle around and clear up the last couple shacks in and around the lakes we are starting to worry that our main income will start to slow. But in the meantime we have noticed that our equipment rental side is working flawlessly. Lots of surrounding small lakes still have a good amount of ice on them and as covid restrictions start to lighten up a lot of people are flocking to the lakes to get the last little bit of fishing in. The weather is perfect and makes for perfect fishing weather, this is great and we are really thankful for our earlier idea of offering the rental services not knowing that it would pick up so much as the shack transportations slow down.

what is not working?

One of the main issues we are having is running out of equipment to rent out (a somewhat positive issue to have). We are also noticing some of the more expensive items available for rental seem to always be booked up. Things like our ice augers and sleighs for pulling equipment by hand as well as our pop up tents seem to always be booked up. We are going to have to do some further investigating into what items we believe will be an asset to have more of to increase our inventory for rental income.

how do you feel the project is coming?

The project has come along quite nicely and we believe that we have some small differences that should be addressed by the beginning of next year. We are constantly crunching numbers and tracking our logistics to insure we get the best bang for our buck when re investing money into our company. I believe that we have done quite well at keeping our start up and running low costs and our scheduling has always been on point.

what are you learning about running a business?

This week was a great learning week for running a business, I have come to realize that steady income cannot be calculated from income in 2 consecutive months. Going forward I would like to better prepare my self for the slow times and the fast times of running the business. For example I was getting very used to always ensuring to have minnows in stock and fire wood readily available and was okay to move one or two shacks a week. However as the seasons change I need to adapt the business and insure I have all the equipment ready at all time for rentals and also for the previous week I needed to have gas and equipment freed up to respond to any calls to transport a shack at a moments notice.

what are you learning about yourself?

I have learned a lot about myself through out this project but in this past week I have really noticed that I am very good at responding and dealing with unexpected issues as they arise. I found that my problem solving skills were put to the test as I ran low on rental equipment however my close relations with the local bait shops made it very easy to act fast and load up on a couple more things that I needed in order to deliver what the customer had wanted and expected.

[taywhite]

Showcase Assignment

https://www.youtube.com/watch?v=cNDjohpFPrc

[taywhite]

Week 9 progress update

what is working?

As winter is coming to an end and the ice is starting to melt we have noticed a drastic pick up in business. We have found that our name has really spread through word-of-mouth and we are expanding our customer base rather quickly. We have had multiple calls for our services requesting removal of ice shacks from the lake and back to shore. Customers have really grown to value our business and what we have to offer. This was also a huge eye opener to our company as we had projected that the beginning of winter would be our most busy and hectic time of the year. Lately it has been proven that isn’t the case. Many families are in a big rush and very excited to get their shack out and start fishing, however by the end of the year there is a very common trend that no one has the energy or motivation to pull them off. Spring thaw has become one of the more busy times for us. 

what is not working?

One thing that we have noticed that isn’t working as well as planned is our flat rate cost based on distance and travel needed for us, we never took into consideration that we may spend much more time and resources pulling a shack off based on the condition of the shack (i.e. is there a tow bar mounted for easy transportation) as well as condition of ice (i.e. extremely slushy or icy) making for more time and gas trying to pull the shacks off with no traction as well as pulling a shack through very heavy wet snow/slush.

how do you feel the project is coming?

We are noticing that the project is getting more and more real as the time goes on and our customer bases grows. Noticing that some days can be extremely busy giving you the feel of a real functioning company. It has come a long way since the start of the project and we have noticed some growing pains, but overall I believe Whiteout’s Ice Fishing has really progressed well and will continue to prosper.

what are you learning about running a business?

I am learning that when you run a business you have to be committed 100% from day one. Even on those days when you want to be out fishing yourself, when business calls you have to be prepared to answer. And this has shown to be a bit tougher then expected as you often find yourself working on the days you had really hoped to be relaxing. This has opened up my eyes to business owners who has always said “there are no days off when you own a business” I never realized how true this was until I started Whiteout’s Ice Fishing. 

what are you learning about yourself?

I have found that I am a very dedicated worker and once I start working on something it is very hard to give up until its fully completed to the best of my abilities. This can be both good and bad, this has made home life a little bit harder as I am not making as much time for family and friends and usually am spending my free time on bettering myself and the business. 

[taywhite]

Start- Venture Venture

what is working?

We are noticing that with people booking for moves in advance that we are able to combine them with other offerings alike minnow deliveries and Wood deliveries and ever other ice shack moves to cost down on expenses. For example if we booked a move on Friday and we had one already booked on Thursday and a pre order on minnows for Friday if we are able to bundle this all together into one trip we are greatly cutting down on gas expenses. 

what is not working?

Some things that are not working as well is our low charge for delivery when we are making trips to other lakes or far spots on Wasi lake to only deliver one or two bags of minnows it makes our profit margins very minimal. We plan on changing our prices to make up for this, we are thinking of implementing minimum cost of 25 dollars for delivery and this should urge people to order a little bit more to get to their required $25 dollars and avoid the extra charge. This should help inflate our sales for wood and minnows. 

how do you feel the project is coming?

The project is progressing very well and we are learning more and more everyday about little easy ways to cut cost and push up our profit margins. I believe that it will take quite some time of learning different ways of doing this before the company will become profitable enough to make it a reliant income. 

what are you learning about running a business?

I am learning that no matter how simple you believe your company’s program is there will always be difficult road blocks. There is most defiantly more that goes into a business that meets the eye. And local businesses are faced with a lot more cost compared to a brick and mortar company making it more difficult to always turn a profit. 

what are you learning about yourself?

I learned that I am very good at meticulously reading through finances and finding any simple or complicated ways to grow profit margins. I actually find joy in looking through number and solving expenses that seem to be to high  

[taywhite]

Start-Up Venture Progress

What is working?

So far what is working well for my business is the execution of the services I provide. The actual towing and relocation services have gone smoothly in the limited number of times I have had the opportunity to provide them. I have not had many customers but the few I have had were pleased with the quality of work I provided. In addition, since I am running the business from my family home, it has also been easier than I expected to keep my business separated from my family (as I initially wanted to avoid any tension that may cause), although it may be beneficial to utilize my family's assistance going forward.  

What is not working?

I am realizing that it difficult to manage my time in order to actually reach out to customers and set up a transaction for my services/products. Due to my full-time job, in which I often times work night shift, it has been a challenge to work around my schedule to make time for my business endeavour.

How do you feel the project is coming?

I think the project is coming along well. There are many things that still need to be fine-tuned and fully developed, however I am enthusiastic as to what the future of the business will bring.  

What are you learning about running a business?

I am learning that success comes to those who work. I find it difficult to devote time to this project due to my full-time work, however I can easily see how a business like this one could develop into something worthwhile if enough time and energy was spent on it. I have also learned follow-up is crucial to business. I will have to continue to work towards touching base with potential customers more frequently in order to develop strong relationships with them as well as lay the foundation to what my sales process will be going forward.

What are you learning about yourself?

I have learned that I may need to change my mentality as to what my working hours are going to be. I think this business will take up portions of time throughout the day, instead of continual 9-5 work. This may work better for my working schedule as I have found difficulty navigating that as well as encourage a more flexible and creative business model. Going forward I think it will also be beneficial in the long run to celebrate small successes of mine as well. I have also learned that I very much enjoy being in charge and look forward to continuing both that mentality and behaviour.  

[taywhite]

Additional Finance Options

Beyond the primary investment of $50.00 into Withouts Ice Fishing, and excluding the first investment of my own cash/saving, the company would like to explore additional finance options from local businesses. I believe that this is a great route as Whiteout’s ice Fishing wants to support and help grow local businesses as well. 

Like I have previously stated, good inter-business relationships are another goal of Whiteout’s Ice Fishing. It may be a good idea to reach out early on to local businesses and set-up a mutually beneficial transaction. I believe it would be appealing pitch to other business owners to offer exclusive promotional and marketing benefits. Perhaps a business like “Geisler Marine,” where our machinery maintenance is done, would be open to investing in us and have our equipment labeled with their company name and contact information. Many individuals who ice fish also enjoy snowmobiling and other motorized activities, therefore there is great cross-market potential that benefits both companies. Also seeing as how they don’t deliver we could offer a partnership to carry and stock some of the more common item that they sell (i.e. belts and oils) this way we are providing our customers with the ability to order a wider variety of items from us. For example, if a customer gets to their shack and are about to order minnows but they realize their ski doo is low on 2-stroke oil, Whiteout’s Ice Fishing would have the ability to deliver this to them as well. We would charge Geislers for a stocking cost and the customers a delivery charge meaning we would make profit in two areas and Geislers would make a profit from the product sold as well.

Another option for finance could be from another local company alike Bobs Bait and Tackle, in which we would offer them a similar exchange of being able to stock some of their more common goods sold for a cost and offer a delivery service for another profit avenue. Similarly to Geislers we can offer a marketing promotion to them to have a sign or sticker on our machinery in hopes to grow their business at the same time as ours.

These options are great opportunities for Whiteouts Ice Fishing as they are easy to implement and it provides options for both businesses to grow. I do not want to rely on money loaned by family, which I know I have the support of since relying on family in business may cause tension and I believe is best to be avoided. Bank loans are commonly used for funding and is something I could also utilize since they offer customized repayment services and can help meet my specific needs, however I would like to focus on partnership with local businesses as the forefront of my finance options. 

[taywhite]

Business Operations

Overview of Business Operations Plan:

Whiteout’s Ice Fishing company offers the solution to the high costs and difficulty associated with ice hut transportation by providing a range of services directed at maintaining a cost effective, safe and high-quality ice fishing experience to all costumers along with the following additional services; equipment rentals, minnow purchasing/delivery and wood delivery. Our objective is to provide an opportunity for individuals with limited access to enjoy the ice fishing activities that Northern Ontario offers. I hope to attract and maintain a large and loyal client base by the end of these final 6 weeks and hopefully make a sizeable profit as well.

Licenses/Permits:

Legal forms will impact my business. I have to decide if I will have sole proprietorship and therefore unlimited liability or general partnership (perhaps more likely if the business is run at my family home). Furthermore, each province and territory has its own business registration rules and registration is required if you are operating a business under any name other than your own exact first and last name, which I am under Whiteout’s Ice Fishing. Tax considerations are another important factor. For example, with my current business model (buying minnows and wood and then reselling), there will be two levels of sales tax.

It is also important to be aware of any regulatory factors involved in towing/ transportation. In Ontario there are licence and registration requirements for tow trucks for example, which include safety tips to follow and considerations as to the size, power and condition of the tow vehicle. It is also important that any motor vehicles that will be used are properly insured.

If I were to provide food and beverages to customers I would be regulated by the CFIA and be responsible for meeting applicable legal requirements under the Safe Food for Canadians Act (SFCA), the Safe Food for Canadians Regulations (SFCR), the Food and Drugs Act (FDA) and the Food and Drug Regulations (FDR). This includes selling products – even if they I am doing it on a small scale (i.e. my own home). Provincial and territorial requirements may also apply. Ontario and Canada-wide COVID-19 restrictions and guidelines may also impact my business operations.

Tools/Items Needed:

In order operate this business, ice fishing and towing equipment such as ice augers, fishing line, ice scoops, rod, reel and jig combos, fish finders, and mostly importantly, a motor vehicle (i.e. snowmobile/four wheeler) with towing accessories are necessary. The business is based out of my home and already is equipped with the capacity and functionality for a business setup. My family are avid fishers and therefore all of the equipment needed I already have access to (excluding any equipment I would need to replace upon damage/use throughout the season). Some items I will need to continually purchase are wood and minnows, which will have to be sourced from local businesses throughout the season.

Good inter-business relationships are another goal of Whiteout’s Ice Fishing. It may be a good idea to reach out early on to local businesses and set-up a mutually beneficial transaction. A good social media/online marketing strategy will also be helpful and assist in avoiding costly ad services. Business could operate more smoothly with ice picks and tire chains (to assist with towing) as well. I plan on investing in these items gradually as I begin to make a profit. In the future, with the hopes of expanding business, I may also consider delving further into ice hut rental business since Whiteout’s Ice Fishing only has access to one ice hut (located on Wasi Lake), however this is not the current focus of the business.

[taywhite]

Alternate Uses for the Safety Pin

We are a Northern Ontario based company who values creating an encompassing fishing experience for our customers above all else. We value the quality of every product we produce, sell and deliver. Our prices are affordable and we take pride in handcrafting the new standard in fishing.

The biggest issue with fishing hooks in the current market is that the consumer is unaware of the proper hook for application. The Reel Assured is universally adaptable to any rig, hook setup, bait type and rod. Our product is handcrafted to have a surplus of exposed hook as recommended by our experts. The Reel Assured is user-friendly and marketed towards both beginners and expert-level fishermen. Not only is our product the future of fishing but it is also the safest hook on the market which is displayed in the lack of a barb, therefore limiting the risk of hook-stick injuries. Because the Reel Assured has such a long shank and drastic bend, lures always sit properly and are provided with better coverage for artificial baits. We can almost guarantee that no fish will be lost while using our product. The Reel Assured is essential for catching that elite Walleye that evades many of us!

[taywhite]

Empathy Map/Customer Persona

[taywhite]

Local Competition

[taywhite]

Message Map

[taywhite]

Strengths & Weaknesses

Entrepreneurship, and entrepreneurship skills, are important in order to sustain business, drive innovation and allow opportunities for new markets to develop. Not only does practicing entrepreneurial skills help individuals to be more employable but it also teaches them how to navigate an uncertain future (both professionally and personally). When thinking about entrepreneurship skills, and my own growing experience in the business world, it is critical to examine my strengths and weaknesses so that I can continue to build marketable characteristics in myself that reflect my business endeavours.

I believe communication is a major strength of mine. I enjoy building connections with others and try to speak openly with many different types of people who have unique perspectives. This kind of skill is important for networking and maintaining healthy working relations. Going hand-in-hand with communication, I also have strong teamwork skills. I have used conflict resolution strategies while working with others in my current job position when I accepted a promotion to a management/team lead role. I am also extremely focused when taking on new tasks and take pride in completing jobs to the best of my ability. In addition, I am financially literate as I understand how to manage personal finances, budget and invest in the stock market. The most notable strength of mine in terms of entrepreneurship is curiosity. I am continuously learning and asking questions which allows me to discover new problems/ways to fix them and strive to create new opportunities.

With that being said, there are numerous areas where I can better myself. I am a perfectionist and too detailed oriented. This results in frustration and hinders my time management skills. In the future I will challenge myself to look at the big picture instead of worrying so much about little imperfections. Furthermore, I am very impatient. This is another source of frustration for me as I want things to be completed quickly and accordingly to my schedule. I could improve my patience by prioritizing tasks and recognizing/accepting unavoidable time constraints. Even though working well with others is a strength of mine I think I could get better at delegating tasks to others. I find it difficult to ask someone to do something that I know I am capable of doing myself. However, I know that in a team-oriented environment, such as a business, delegation is essential. Finally, another weakness of mine is self-criticism. I think we are all more critical of ourselves than others and it is just as important to recognize areas of self-improvement as it is to accept praise from yourself.

I will continue to keep my own strengths and weaknesses in mind going forward!