FINANCIAL POST
T H U R S D A Y, A P R I L 2 8 , 2 0 1 6
CA LG A RY H E R A L D
B5
CAPITAL WHAT DOES YOUR IDEAS BUSINESS NEED RIGHT C A P I TA L Q U E S T I O N
NOW TO GROW?
Calgary entrepreneurs share what they need most right now “Along with many other entrepreneurs, I need cash and time to grow my business. There are multiple areas of potential growth in my organization, so I needed to sit down and determine which ones were priority and which ones would have the greatest return on investment. Each require a fiduciary and investment in staff so cash flow, managing time and determining when to hire are all areas that need to be addressed to ensure the growth is successful.”
Megan Armstrong, owner of Dogma Training and Pet Services, dogmatraining.com
“A powerhouse team of individuals who have proven successes and a passion for creating something incredible. We have been so fortunate to have incredible supporters since our launch. To elevate our business to the next level it’s inevitable that our team needs to grow and we are seeking the best of the best and forming strategic partnerships with organizations that align with our values. These connections will fuel our business with the expertise, opportunities and visibility that we need to explode. In a nutshell, it’s about an extraordinary team.” Moinca Kretschmer, founder and CEO of Canadian Business Chicks, canadianbusinesschicks.com
“People. Knowledgeable, dedicated and hardworking people. It is not a bad problem to have but it is a fine balance to strike so I am meeting the needs of my clients and providing the work to my team. It is always a good plan to have resources in your back pocket to draw from when the work comes in fast and know how to maximize them, both when things pick up and slow down.” Amanda Schewaga, owner and social media strategist at The Marketing Girl, themarketinggirl.com
Brad Gaulin, CEO of GOmentr (gomentr.com) says what they need most right now is growth capital — a sentiment echoed by a few entrepreneurs this week. “We have our first customers for our new software technology and we now have to deliver, make them big successes and market like crazy to the rest of the market before someone else with more resources steals our lead. Funding for this phase, the valley of death in some entrepreneurial books, is very hard in Canada. It is still too early for venture capitalists here as they only really do mezzanine financing when the risk is mostly gone. Getting individual investors to invest would be a lot easier if they could reduce their risk with tax adjusted equity investment dollars. Getting the funding and resources to transition from first customers to fully commercial is a challenge.” UNIVERSITY OF CALGARY ALUMNI MAGAZINE
“Our company is at that difficult stage of needing to add members to the team but not quite having the projects (and the revenue) to keep one busy full time. I can hear my coach: ‘How long would it take to train that member before having them there would generate the revenue to cover the expenses in hiring them?’ and ‘What are the opportunities lost by not hiring soon?’ So, what do we need? Capital, a teammate and a bit of chutzpah!” Noreen Ward, culture leader at The Gift Designers, thegiftdesigners.com
“I just launched my business this month and I have only lived in Alberta for two years. What my business needs right now is customers who like fun and something different for their special occasions.”
Carolyn Zimmerman, owner and designer at Balloons and Bling, balloonsandbling.ca
“We need collaboration to grow. From investors and employers to job seekers and not-for-profit organizations, it’s about the community working together to solve the growing needs of people locally, nationally and internationally. The only true way we can grow is to leverage shared learnings to create shared action. We are stronger together. WeEmploy brings people together because together we can grow our business of creating solutions to help vulnerable people in need.”
UPCOMING EVENTS
M AY 6 AWE CELEBRATION OF ACHIEVEMENT Join Alberta Women Entrepreneurs at this celebration luncheon which pays tribute to exceptional entrepreneurs in the province. ■ Where: Hotel Arts (119 12th Ave. S.W.) ■ When: 11:30 a.m. to 1:30 p.m. ■ Admission: $50 and up. More info at awebusiness.com M AY 1 1 BUSINESS PLAN WRITING WORKSHOP Learn to create your business plan in this three-hour workshop that will also introduce you to the basics of marketing, research and financials. ■ Where: District Ventures (2540 Kensington Road N.W.) ■ When: 5:30 to 8:30 p.m. ■ Admission: $89. More info at awebusiness.com For more great events, visit capitalideascalgary.com/ events
COMMUNITY QUESTION
How do you incentivize customers to spread the word about your business?
Steve Mix, CEO and co-founder of We Employ Inc., weemploy.com
“Continuing moving onward and upward is what my business needs now. (We need to keep) staying focused, being positive, working through new challenges and continue with networking, marketing and providing extraordinary customer service. My business needs me to keep calm and sale on!” Laura Pierce, president of LP Human Resources Inc., lphumanresources.com
“Being a travel and expense consulting company, it is very difficult in the present environment in Calgary to convince companies that this is the time to engage with a company such as ours. We are in the business of saving companies money and ensuring that they are getting the best value from their suppliers and the best support from their users. But when employees and consultants are getting laid off at the rate that they have been, our value proposition is a challenge even though the cost of doing business with us is recovered in year over year savings. We need to find companies that understand that some money, even now, can be well spent.” Linda MacPherson, partner at Mac2 Consulting, mac2consulting.ca
“To grow we need talented, committed and passionate people invested in our company who are willing to put in some sweat equity for a good (albeit delayed) payout and a greater purpose. Specifically this is referring to teachers and salespeople, so if you’re interested email us at hr@freemindls.com.”
Sara Dasko, CEO of Free Mind Language Services, freemindls.com
The above answers are in response to a question posed by Wellington Holbrook, executive vice-president of ATB Business. Here’s his take: “Trick question! Kidding, but only sort of. In my experience, it is rare that a business needs any one thing to get the engine of growth going. Even if you can point to that ‘one thing’ — like money, people or products — there are usually other underlying issues. If it’s money, maybe the business plan has some gaps or maybe operations need to be improved. If it’s products, maybe the company needs a jolt of innovation or a new perspective. After having been at this for over 20 years, I have never seen a business get held back by any ‘one thing,’ even if it felt that way for the entrepreneur. Instead, it is usually a variety of little things underneath the perceived issue that is what really needs to be addressed. So, when it feels like you need to move a boulder (ie. that one big thing), think smaller. All the little things might just start moving things your way.”
Satisfied customers can be one of the most powerful marketing tools for entrepreneurs, as they share product shots on social media, recommend businesses to friends and family and become repeat customers. That’s why Claire TheakerBrown, director and founder of Flatter:Me belts (flattermebelts.com), wants to know: How do you incentivize customers to spread the word about your business? You can answer the question in two ways: Open today’s Capital Ideas email if you’re a member or visit capitalideascalgary.com. We’ll publish the best answers, along with your business name and website address, on May 5. Claire is one of the nominees for Emerging Entrepreneur at the 2016 Alberta Women Entrepreneur Celebration of Achievement. Tickets are still available to the celebration luncheon which will be held May 6 at the Hotel Arts. More info at awebusiness.com.
NEXT EVENT
Why does company culture matter? When: May 26, noon to 1 p.m. Where: Glenbow Museum (130 9th Ave. S.E.) RSVP at capitalideasyyc17.eventbrite.ca
Attendees learn at the March Capital Ideas event at the Glenbow Museum in Calgary. J EN N PIERCE
Join three local entrepreneurs who will be discussing the importance of finding the right fit when it comes to your company culture. Tickets are free and a light lunch will be served.
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