business
calgaryherald.com
Thursday, August 21, 2014
B7
CAPITAL IDEAS CAPITAL QUESTION:
UPCOMING:
What sustains you through business lows?
Capital Ideas members share tips for dealing with the turbulence of entrepreneurship
Startup Weekend: Solutions for your City
AUG
22-24
A weekend event hosted by Startup Calgary and the City of Calgary When: 4 p.m. Friday to 9 p.m. Sunday Where: The City of Calgary Municipal Building Atrium (800 Macleod Tr. SE) Admission: $75 to $99. Details at startupcalgary.ca/calendar
Six Steps to a Better Business
AUG
26
A seminar on how to turn your business into an asset When: 3 p.m. to 5 p.m. Where: Business Edge Coaching (7710 5th St. SE) Admission: $19. Details at businessedgecoaching.com
Startup Drinks
AUG
27
A casual gathering for startup founders, funders and enthusiasts When: 6 p.m. to 8 p.m. Where: Ceili’s Irish Pub (351 4th Ave. SW) Admission: Free. Details at startupcalgary.ca/programs/startup-drinks.
Mobile Monday Startup Calgary
SEPT
08
A chance for those in the mobile ecosystem to connect, learn and share with each other When: 6 p.m. to 8 p.m. Where: Cardel Theatre (180 Quarry Park Blvd. SE) Admission: Free. Details at startupcalgary.ca/ programs/mobile-monday
Have an event that Capital Ideas should know about? Contact us at hello@capitalideascalgary.com.
Photo by Jason Stang/stangphotography.com
Paula Onysko, founder of Paula Onysko Coaching & Consulting (paulaonysko.com), says it’s all about momentum and mindset. “Momentum means you don’t wait for a business low — you plan for it. You work to build up three to six months of expenses so you can ride through any ebb in your income ... Mindset supports all of these efforts to ensure you stay out of fear and remain focused and forward-looking.” “What gets me through the lows is the great support I have in my immediate family, some great friends, and even a fellow entrepreneur or two. My clients also keep me going ... it feels so good to know I make a difference to their day.” — Jackie Appleby, owner of Primp & Polish Beauty Boutique — primpandpolish.ca “Loving what I do, believing what I do is needed, offering hope to families in need and having a huge network of support has sustained me through the business lows.” — Mona Cooley, family and peer support specialist at Cool Family Solutions — coolfamilysolutions.com “When business doesn’t come to you, you need to go to the business. When things are slow, I spend more time on marketing and engaging online with my current clients and potential ones. Slower periods are perfect times for boosting marketing and learning some new skills. Better yourself as a business owner, and you’ll be bettering your business overall.” — Amber Craig, CEO of Bamboo Creative Inc. — bamboocreativeinc.com “The desire of getting through it, the necessity of being successful, the rejection of failure, and the need for accomplishment.” — Guylaine Gagnon, owner of Zentboutique — zentboutique.com “I have to keep my eye on the prize and keep reminding myself of the ‘why’ of my business. I also need to make sure I take time to connect with those who can encourage me.” — Darlene Hull, owner of HotSpot Social Media — hotspotsocialmedia.com “Business lows for entrepreneurs can come in different forms; business performance could be struggling or you find yourself lacking in the high energy that got you this far with your company. In either case, tapping into the entrepreneur community and related supporting organizations is key to getting out of these doldrums ... Working as an entrepreneur can sometimes be isolating, so exposing yourself to ideas and energy from willing supporters can provide the insight you need to change directions.” — Alana Kitchen, founder Who To Call Inc. — whotocall.ca These answers were collected from Capital Ideas members. For your weekly opportunity to share your business advice the way these members have, join us at capitalideascalgary.com.
“I try to accomplish all the things that I can’t seem to get done when I am busy. I create non-personalized products to have in-stock, I experiment with new design ideas, update my website and social media sites, prepare my next newsletter, contact past customers with a note of thanks and, if I’m lucky, I get to take some time for myself.” — Valery Klassen, owner of Sun 7 Designs — sun7designs.com “We are now in our 14th year of business, and low periods are becoming shorter and shorter. I know new business owners get very concerned with down time, and there is a tendency to panic. I also know that most new business owner/operators are not spending nearly enough time on their marketing — the one thing that would successfully fill in those gaps each year ... So create a stellar marketing plan to fill in those lows for the following year, and as the years progress, you won’t have any down time at all.” — Trina Lo, creative curator at FreshInk Communications — freshink.ca “When you hit a business low you have two options: Give up or get back up. Only you can know what the best option is. Personally, I try to learn from my mistakes, regroup, and then get going again with renewed speed, conviction and confidence. I also try to recognize that it’s just part of life and remind myself that things will eventually get better.” — Barbara May, founder of Stumbling Blocks at Work — stumbling-blocks.com “When business is slow, I try to use that time to catch up on my reading and research in the area of conflict. Keeping busy with new learnings and my on-going marketing helps me stay focused. I know that those dips in business always return with a busy period. The world of conflict [resolution] is very unpredictable, and I’ve come to accept that.” — Michelle Phaneuf, conflict manager at REA-Reaching Enduring Agreements — rea-agreements.com “As a speaker on creativity and innovation, I use visualization to keep myself motivated and teach others how to use it. To be effective at visualization, we need to dare to dream and to set stretch goals ... If you have failures, don’t dwell on them; rather, learn what you can from them and then move on. When you achieve a positive step toward your goal, celebrate, even if it’s a small success.” — David Saxby, president of Spark Communications Inc. — sparkcommunications.com
“My eWomenNetwork friends. This group of entrepreneurs is so supportive ... They’ve got my back, or a kick to my backside when I need one.” — Catherine Scheers, owner of Blissful You Spa — blissfulyouspa.com “My coaching business allows me to schedule programs, both online and in person. I ask my clients to pre-register, and offer them an early bird incentive that is scheduled to get the dollars coming in as deposits to keep cash flowing during low times. I also have some quick and easy programs or special-offer sessions that are cheap and fun to entice clients during the low season ... This not only gives me a welcome and refreshing break, but brings along new clients wanting to test my services!” — Sam Tattersall, owner and founder of Mamaita’s Journey — mamaitasjourney.com “It is important to work on cultivating different revenue streams and having recurring income, as well project-based income or one-time jobs. In addition, try to build a reserve fund — we try to have three to four months in wages and operating costs available at a minimum.” — Michael Tighe, president of Solid Site Inc. — asolidsite.com
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