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CAPITAL IDEAS UPCOMING JUNE 23: T H E B O O ST R STA G E — A PITCH EVENT Entrepreneurs pitch their crowdfunding plans to the audience, with attendees choosing who to fund. ■ Where: Theatre Junction (608 1 Street S.W.) ■ When: 5:30 p.m. to 8:30 p.m. ■ Admission: $20. Details at albertaboostr.ca/connect JUNE 23: EGGHEAD LABZ PRESENTS: FACEBOOK FOR BUSINESS LEVEL 1 Learn everything you need to know to get started with creating your own Facebook ads. ■ Where: SAIT – The Gateway Restaurant & Bar ■ When: 10:30 a.m. to 3:30 p.m. ■ Admission: $99. Details at eventbrite.com (search “Egghead Labz”) For more great events, visit capitalideascalgary.com/ calgaryevents.
COMMUNITY QUESTION
What makes a crowdfunding campaign worth backing?
FINANCIAL POST
CA LG A RY H E R A L D
C A P I TA L Q U E S T I O N
HOW DO YOU CREATE AND SUSTAIN A CULTURE OF INNOVATION? Entrepreneurs talk about finding great ideas to help their businesses “Creating a culture of innovation starts with the ownership and leadership of a given company. Innovation must be routinely encouraged. If the leadership decides to implement a particular idea, it is essential to publicly recognize and reward the teammate that came up with the idea in the first place.” Vince Fowler, president of Vested Interest Group Inc., vestedinterestgroup.com
“Often times innovation occurs for me when things are not working and I need to troubleshoot. I have come to relish an obstacle or challenge now because I know as soon as I figure out how to work with it, good things will happen. I have recognized over the years that the way I initially think things will work is just a starting point for the final product. Being too attached to the original idea and not being flexible can kill innovation, especially in a creative business.” Kevin Kent, president of Knifewear (www.knifewear.com), believes that innovation can be created with a few simple steps “Step 1. Come up with crazy ideas. Step 2. Make crazy ideas happen. Step 3. Listen to staff’s crazy ideas. Step 4. Make staff’s crazy ideas happen. Step 5. Reward crazy ideas. If someone wants to buy a penny farthing and they promise to ride it wearing a hundred-year-old suit with tails, a top hat, a curled moustache and a bow tie, buy one. Make sure you get the right size. *Make sure crazy ideas fit your brand, at least somewhat. Don’t forget non-sequiturs often get attention. Go Flames go.” PHOTO SUPPLIED BY: KEVIN KENT
we found it.”
“A culture of innovation begins with a good vision statement and bigger-picture aspirations. Alignment with purpose promotes innovation and results. Sustainability comes with the sense of fulfillment one feels by leaving our environment and industry a little better than how
Elizabeth Brueckner, principal and founder G.K. Hills, gkhills.com
“Creating and sustaining innovation involves creating space for ideas to surface, capturing them, allowing a forum where they can be heard and then selecting some to try out regularly. Creating space can be done by getting away from your desk for a walk or run where the ideas will start to flow. This is rarely built in or allowed in most offices but it is critical for innovation.” Sarah Laughton, principal of Stretch Solutions Inc., stretchyourproductivity.com
Crowdfunding campaigns need to have something that speaks to backers, whether it’s a product or business that aligns with their values or rewards that connect them to a campaign’s goals, which is why Neetu Sidhu, manager of Alberta BoostR, is curious to hear from you: What makes a crowdfunding campaign worth backing? 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 June 25. For more information on ATB Financial’s new crowdfunding platform, visit albertaboostr.ca.
“Creating a culture of innovation requires an environment where employees are encouraged to challenge how things are done, and to improve their service to clients. You should be looking for innovation everywhere, not just the million dollar ideas, but also those expediting routine tasks. Sustaining the culture is an ongoing process that must be continually nurtured and kept visible as a value.” Merri Lemmex, owner of Lemmex Williams Training Inc., lemmexwilliams.com
Jennifer Park, artist and designer at Natural Icon Designs, naturalicondesigns.com
“Innovation comes with both success and failure, so it is important to encourage people to take risks, but learn to fail fast and fail small. Don’t be afraid of failure, but know how to mitigate the damage and move on quickly.”
Jill Dewes, managing director of Uppercut, madebyuppercut.com
“We do a lot of research into innovation and find that it starts with an understanding of what innovation means within the context of each business. It is different from business to business, but among the common denominators is a culture that nurtures innovation through leadership and training and celebrating success. It’s all about instilling an attitude to look at everything differently and find creative solutions, and in the end people need to be recognized and rewarded for their efforts.” Bruce Leslie, executive director at the Conference Board of Canada, conferenceboard.ca
“It is our goal to bring innovation to our practice by engaging our clients in regular feedback opportunities that not only allow us the ability to constantly re-examine and restructure our services to best meet the needs of our clients, but it also provides clients with the opportunity to be heard and valued. It is also our philosophy to engage our team of employees in building a practice environment that not only supports and values the opinions of our clients, but supports and values the opinions of staff as well. When our business is driven by the common values and vision created by our team members, sustainability for a culture of innovation becomes intrinsic.” Cyndy Morin, family lawyer and owner of Resolve Legal Group, resolvelegalgroup.com
“Innovation and conflict go hand in hand. Conflict is good when managed in the right way. Strengthening a culture of innovation occurs through deep dialogue when conflicting viewpoints are present. It is important to keep conversations value-based to get deeper into what’s important. This will create a shift from conflict to innovation.” Michelle Phaneuf, Alberta co-director of Workplace Fairness, workplacefariness.ca
These answers are in response to a question posed by Wellington Holbrook, executive vice-president of ATB Business. Here’s his take: Creating and sustaining a culture of innovation doesn’t just happen. But there are a few smart things business owners can do to create that culture: 1. Let mistakes happen and celebrate them. 2. Encourage loose ties, not strong ones, in and out of your industry.
3.
Innovation isn’t invention; small improvements can change the world. The most innovative entrepreneurs that I have worked with over the years always embraced these principles, and they stick with them. If you are trying to spice up the innovativeness of your company, start by celebrat-
ing some mistakes that grew out of a well-intentioned new idea. You might be surprised how quickly celebrating a failure can turn into celebrating a success. For a more detailed response from Wellington Holbrook head to our LinkedIn group, Capital Ideas Alberta.
R O U N D U P : R E C E N T P O S T S F R O M C A P I TA L I D E A S M E M B E R S Find the full posts on these members’ LinkedIn profiles. We’ll curate a selection every Friday on our LinkedIn group, Capital Ideas Alberta. To bring yours to our attention, email it to hello@capitalideascalgary.com.
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From “Kicking the Doors Open” by Melanie Love, CEO and founder of Front Room (morefrontroom.com):
“So how did a finance geek with only a passing interest in fashion become a clothing designer? The same way any great business is started: by finding an under-served niche with a problem and developing a solution.”
From “Don’t Shut Off Your Lights During a Recession” by Amanda Schewaga, owner of The Marketing Girl (themarketinggirl.com):
From “Matching video content to marketing goals” by Dana Goldstein, chief producer at ChicFlicks (chicflicks.ca):
“If you’re looking to cut spending within your business, the marketing budget might seem like one of the most obvious spots to save. In so many ways, though, this decision could mean the demise of your business while others manage to weather the storm.”
“If you don’t know what your video is supposed to do for your business, your potential clients won’t have any idea either. Your video content needs to be a part of your bigger picture marketing goals.”
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