MEET THE NEW BOARD BOSS

GVBOT president and CEO Bridgitte Anderson stresses inclusiveness, diversification

HAYLEY WOODIN B ridgitte Anderson is just seven days into her role as president and CEO of the Greater Vancouver Board of Trade (GVBOT) when she visits Business in Van

couver’s offices.

She’s come from moderating a panel at the Business Council of British Columbia’s annual business summit. The day before, she addressed some of her organization’s 5,500 members at her first official GVBOT event.

Learning the complexity of the 132-year-old organization will be, she says, her greatest challenge. Her top priority: regional competitiveness – and she is well versed on the issue.

“We need to get beyond thinking that we are silos,” says Anderson, who took the helm at GVBOT in November. “We have to think beyond where we are as a city and think as a region about how we’re going to be regionally competitive and then globally competitive. There is so much divisiveness within Canada.”

To that end, how to increase advocacy and deepen engagement are also among Anderson’s top priorities as she navigates her first months in a complex organization that advocates and engages on a number of deeply complex issues.

Among them: taxation, affordability, talent attraction and retention, inclusion, diversity.

On the last item, Anderson makes history as the GVBOT’s first female chief executive since the organization’s inception in 1887. Beyond gender equity – the board has been gender equal since 2015 – Anderson cites engagement with Indigenous and millennial business leaders as two areas of opportunity for progress in diversity.

“With more diverse opinion, you’re going to have better decisions,” she says. “We are evolving to that point as a community, as a society, and I think that this is where the Greater Vancouver Board of Trade has some opportunity to evolve in that way as well.”

Anderson is a communicator. She spent part of her career in journalism as a local and national news anchor. She served as press secretary to former B.C. premier Gordon Campbell. She led corporate communications as general manager of Edelman’s Vancouver office.

As the region evolves, Anderson sees a great opportunity to shape – and then communicate

WE NEED TO GET BEYOND THINKING THAT WE ARE SILOS j Bridgitte Anderson President and CEO, Greater Vancouver Board of Trade

Bridgitte Anderson is the

Greater Vancouver Board

of Trade’s first female

chief executive since the

organization’s inception

in 1887 • CHUNG CHOW/BIV

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– a new narrative for Greater Vancouver and British Columbia.

“Who do we want to be as a region and how can we unify and pull people together? I’m not sure that we have actually developed that narrative to the strength that it could be. I also think there’s a way to further leverage the Canada brand,” she tells BIV in her first interview as CEO.

B.C.’s history around resources has changed, she says. Technology and creative industries have grown into dominant regional and provincial economic forces. The latter groups have not necessarily been well represented in GVBOT membership, and Anderson says she will be looking to deepen engagement in those areas.

“For me it’s about evolving the organization as society is evolving,” says Anderson. That will include discussion around sustainability, around the future of work and around ensuring the right voices are around the table. “It is going to take a lot of diverse opinion and a lot of collaboration to solve these problems. And so that would be my biggest priority, is how do we do that? How do we get the smartest people around the table to solve these problems?”

There were a lot of applicants for Anderson’s position. Her passion, she believes, set her apart. She recalls telling friends a couple of years ago that the one job in Vancouver she would really like – her dream job – would be the one she now holds.

And she has assumed that job at what feels like a critical time – when B.C. is represented by minority governments provincially and federally, when climate-related protests take centre stage on Vancouver streets, when companies are on downturn watch and when acute affordability issues complicate businesses’ bottom lines.

Anderson expects her leadership could involve adopting a higher profile as she pursues her priorities. She’s also keen to listen, and to focus her attention on the needs and concerns of Greater Vancouver businesses.

“This is something I feel so strongly about – about business taking the lead, about evolving the business community to think broadly about some of these really challenging issues,” she says.

“To have the opportunity and the honour to lead that, it really is … a dream come true.” É

Originally published in Business in Vancouver issue 1569, November 26–December 2, 2019.

TAKING THE LEAP Tips for starting up a successful small business

LAURA AVELEDO

We’ve all been tempted at some point in our lives. From watching your friend’s business flourish on Instagram and thinking, “I could do that,” to wanting to break out of the 9-to-5 lifestyle, entrepreneurship can be sparked in many ways.

Once you’re ready to take that leap, it’s easy to want to dive right in and begin working on the exciting aspects of your business, without taking the time to work through the foundations.

From the observation of past clients, entrepreneurs need to take the time to craft a healthy business plan with tangible resources, expert advice and support from within your community. Though this may seem obvious, too often the simplest advice is what goes unheard and ends up being a pivotal factor in reaching success further down the line.

The past few years have seen an increase in women eager to be their own boss, with over 39% of all entrepreneurs that started businesses in 2018 identifying as female. I’m excited about this trend; however, I do still see that women are hesitant to reach out for assistance and need encouragement to go for the grants, clients, awards, etc. that they want.

Here are some of my recommendations on where to begin your entrepreneurial journey:

Have a clear business concept. A clear business concept enables you to quickly and clearly describe the exact nature of your business to suppliers, clients and potential investors. By doing this, you can manage client expectations and easily find new ways to differentiate your business within your industry to stand out from the crowd. Know your clients. The key is to know your ideal client inside out and understand that “everyone” is not an answer. You want to know as much as you possibly can about them – from what they need from you, to how they buy, to their favourite activities and everything in between. Once you know them, then you can communicate with them in a targeted approach, reaching them through the channels that they use daily. The more targeted you are, the more effective.

Set SMART goals. Most of my clients come to me with a great idea but no plan to move it forward. SMART – specific, measurable, achievable, realistic and time-related – goal setting ensures that you are focusing your attention on development and growth in the areas of your business that need it, without getting distracted by other aspects that may not be relevant. For example, it doesn’t make sense to discuss what fantastic marketing campaigns you’re going to be running next year when you haven’t yet registered your business name.

Plan for everything. Women tend to be great planners by design, but we still can’t predict the future. Have a contingency plan (and insurance) in place for dealing with the unexpected obstacles that will pop up in your business. You’ll feel more secure overall and be able to tackle issues effectively when they arise. Celebrate success. Make time to celebrate your wins. I always suggest that you take note of how much effort and time it took to reach each of your goals, so you have a benchmark for success moving forward. Whether you’re a “solopreneur” or have a team of 20, running a business is hard work, and you deserve to celebrate! Don’t be afraid. Don’t be afraid to move on from situations and people that are not helping you or your business to grow with purpose. Don’t fear asking questions or asking for the assistance you need to move forward.

Prepare a strong business plan with structured goals and a realistic financial forecast, take a breath, then take a risk. At the end of the day, there is nothing more impressive than a confident woman owning her ambitions and creating a life and business that she is proud of. É

Laura Aveledo is one of the business planning and international trade advisers at Small Business BC. Originally from Venezuela, she has over 15 years of international experience, from large corporations to financial services and not-for-profits, in addition to developing her own business. She has advised more than 300 entrepreneurs from varied industry backgrounds and was an entrepreneurship instructor.

THE KEY IS TO KNOW YOUR IDEAL CLIENT INSIDE OUT AND UNDERSTAND THAT “EVERYONE” IS NOT AN ANSWER

NAVIGATING THE ENTREPRENEUR’S LIFE The right advisers can help steer you straight on the sometimes bumpy road of starting your own business

ELIZABETH MAH

One of my favourite things about my job as an adviser is sitting shoulder to shoulder with some of the most amazing entrepreneurs in Vancouver and sharing stories, energy and insights as to what it means to be a business starter, grower and keeper. Through the challenges and celebrations, an entrepreneur’s life is not for just anyone. But when it’s in our blood, the drive can’t be hidden, and we take the endless workday, the multiple hats and the “flexibility” of being our own boss.

Inevitably through this journey, there are small and major trip-ups, but mainly reminders that vulnerability, humility and perseverance are required to get us up and going every day. It takes reflection and leadership to muster the courage to heal from the ego bruises and brush off the emotional baggage, to pick out the lesson to take with us on the future journey.

Entrepreneurs face decisions almost every minute and, as such, rely on that quick “trust your gut” instinct. When we meet people who share in our enthusiasm for ideas and growth, it’s exciting, and ideas often turn into entering into joint ventures or partnerships, mergers or acquisitions, which are like business “marriages.” As we fall in love, commit and honeymoon, thoughts of future conflict resolution or exit strategies are often overlooked in favour of trust and optimism. But if personal or financial circumstances change for anyone or the plan derails, your best bet to ensure that you know your options, and how to move forward or out of an unhappy place, is a comprehensive signed agreement – not that crumpled napkin or pinky swear way back at the beginning.

Ah, the beginning. Many entrepreneurs look back at the startup phase, when energy and motivation are high but cash and time are tight, and wish we had made decisions back then that were “bigger than we were.” By just pushing hesitation to the side a bit to see a bigger future, we might have hired a better accountant, bookkeeper, graphic designer, executive assistant, etc., or leased a bigger space. And usually, we should have hired a lawyer to look at homemade documents before they were signed. Things like trademark or intellectual property protection, insurance, hidden liabilities and risk areas are often not practically assessed or negotiated before signing documents, and entrepreneurs are stuck with them without a smooth resolution. And there’s never a good time for litigation.

Another area of conflict is often with staff. Turnover within a team is normal and expected, but it is almost necessary when a company is growing. The team you start with won’t likely be the team you will grow with and end with. Leading our teams through growth usually involves more stutters and changes than we expect. Whether you decide to take a slow and steady approach or scale up quickly, it’s important to ensure that legal agreements with your employed and contract staff are solid, that you aren’t leaving uncertain severance or termination provisions that could be a major liability for the business, and that there are confidentiality, non-solicitation and non-competition provisions that align with your business when change is required.

That also goes for selecting your advisers. Surround yourself with the best team at each stage of your business’ growth. Assess whether your financial, tax, legal, sales and marketing, human resources and operational advisers get what you’re trying to achieve now and down the road, whether they have the skills and capacity to support you on the journey and whether you’re comfortable openly sharing the challenges with them so that they can best help you. It’s not always champagne and cloud nines in an entrepreneur’s world, so ensure that you have advisers to guide, steer and challenge you and allow you to be confident about the decisions you’re making.

Being an entrepreneur is one of the most challenging and rewarding lifestyles out there. We chose it for a reason and a purpose, so anchor it down and own it. É

Elizabeth Mah is the founder and lead strategy lawyer at Paperclip Law, a firm built with clients and culture in mind that aims to redefine how legal services are delivered to small and medium-sized businesses. She is a 2018 Business in Vancouver Forty under 40 winner.

MANY ENTREPRENEURS LOOK BACK AT THE STARTUP PHASE AND WISH WE HAD MADE DECISIONS BACK THEN THAT WERE “BIGGER THAN WE WERE”

10 YEARS, 3 BIG LESSONS Think big, get a business therapist and know your numbers

LINDSAY NAHMIACHE

My top three lessons after a decade of entrepreneurship:

1. THINKING SMALL IS THE SAME EFFORT AS THINKING BIG (ACTUALLY MAYBE HARDER) I read an amazing poem when I was 21 years old in the classic business and life book Think and Grow Rich by Napoleon Hill. These words are so true (even though they are originally from a 1918 book of poems by poet Jessie Belle Rittenhouse). However, I still proceeded to ignore them for the first half of my career and think small. I eventually came around and starting following the poem’s advice – that is when my business expanded internationally and I started getting paid what I was worth.

My Wage I bargained with Life for a penny, And Life would pay no more, However I begged at evening When I counted my scanty store.

For Life is a just employer, He gives you what you ask, But once you have set the wages, Why, you must bear the task.

I worked for a menial’s hire, Only to learn, dismayed, That any wage I had asked of Life, Life would have paid.

To me this poem shows that we decide what our value is in life. When we live in fear, we play small, and that’s how things work out. This leads to my second valuable lesson.

2. GET A BUSINESS THERAPIST Entrepreneurship is a mindset, so you’d better clean yours up and make sure it supports you. Yes, I know market conditions and external factors can make things challenging, but those are such easy excuses and put you in the victim’s seat. Smart entrepreneurs are able to see opportunity in adversity or, at the very least, different ways of doing things while they ride out a challenging period. I am a firm believer in the power of “business therapy” – just as you want to clean up your emotions in your personal life, it’s important you do the same with the emotions you bring into your business. I’ve had a business therapist for the past two years, and it has been game-changing. I also hired her for my staff and gave them monthly one-on-one sessions – best decision I’ve made.

3. KNOW YOUR NUMBERS I know this is what everyone says, but there is a reason for that. If you don’t know your numbers, you are a bad entrepreneur. I’ll say it again: you are a bad entrepreneur. I know because I was one for longer than I care to admit. As a result, we got into unexpected debt and weren’t able to scale as fast as we should have. I am not naturally a numbers person, and what I realized is that you don’t have to be; you just need to know the basics and look at them on a monthly basis. The greatest thing I ever learned was to build a rolling 12-month profit and loss statement; this allowed me to see trends and project future scenarios rather than react to them. I also highly recommend the books Profit First by Mike Michalowicz and Simple Numbers, Straight Talk, Big Profits! by Greg Crabtree – they should be mandatory reading for entrepreneurs. É

Lindsay Nahmiache, CEO and co-founder of Jive PR + Digital, runs a 10-year-young agency with offices in Vancouver and Los Angeles that excels in consumer brand and entertainment PR. From expanding into the U.S. to buying out her former business partner, Nahmiache has weathered the ups and downs of entrepreneurship.

THE GREATEST THING I EVER LEARNED WAS TO BUILD A ROLLING 12-MONTH PROFIT AND LOSS STATEMENT; THIS ALLOWED ME TO SEE TRENDS AND PROJECT FUTURE SCENARIOS RATHER THAN REACT TO THEM

Influential Women 20th Annual In Business Awards

MARCH 6, 2020 | The Fairmont Waterfront 900 Canada Place Way | 11:30am-2:00pm

BIV Subscribers: $135 | Non-Subscribers: $165

Business in Vancouver is once again recognizing BC’s most outstanding business women in private or public sector companies. Honourees have risen through the ranks to become senior executives or entrepreneurs. Through corporate board placements they help influence and shape policy at some of Canada’s largest companies. Winners will be profiled in a February issue of Business in Vancouver.

2020 INFLUENTIAL WOMEN IN BUSINESS AWARD WINNERS:

Genesa Greening President & CEO, BC Women’s Health Foundation

Ratana Stephens Co-CEO & Co-Founder, Nature’s Path Foods Inc.

Ana Maria Llanos Principal, Diamond Schmitt Architects

Vivian Zalkow CEO, Taymor Industries Ltd.

Lori Mathison President & CEO, Chartered Professional Accountants of British Columbia

Gerri Sinclair (Lifetime Achievement) Managing Director, Kensington Capital Partners

Presented by Gold Sponsors

Silver Sponsor: General Sponsors:

PAIGE AINSLIE JULIA BELL

DANNY BERNSTEIN SARAH BLANCO

MAGGIE CAMPBELL

RYAN COPELAND ALISSA DEMERSE DREW DEMERSE JENNIFER DEVINS

MELISSA DHILLON (NEATE) SARAH DICKSON

JACQUELINE D. GANT BRUCE M. GREYELL Q.C. SANDRA GUARASCIO

MIKE HAMATA NATALIE CUTHILL GREGORY J. HEYWOOD

BRANDON HILLIS JENNIFER HOGAN

MICHAEL R. KILGALLIN JAMES D. KONDOPULOS CARRIE KOPERSKI REBECCA KLASS

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MEAGHAN J. MCWHINNIE JULIE MENTEN JORDAN MICHAUX CHRISTOPHER MUNROE

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JENNIFER S. RUSSELL BOBBY SANGHA DELAYNE SARTISON Q.C.

DANIELLE SCORDA

GABRIELLE SCORER

KIM THORNE

ADAM VAN DER LINDE

MICHAEL WAGNER

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