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CAPITAL QUESTION:
UPCOMING:
Who do you go to for advice on running your business? Entrepreneurs share where they get the best advice
OCT
Launch Party 5
OCT
Sunrise Series: The Top 7 Reasons Smart Women Should Speak Up
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“For years, it’s been a policy of mine to have an advisory board who I can connect with. I have men and women on my board that have various areas of expertise, and call on them when I’m stuck or need to just run an idea past them. Ultimately I will do what I think is best for my business; however, I respect their opinion. It’s always good to have a different perspective.” — Dorothy Briggs, owner of Womanition Magazine — womanition.com “I’m a graduate of the Microbusiness Training Centre. The advice I have received from Jim Spiers, Deborah Cox, and Nancy Kindler has been very helpful to me both personally and professionally, so I’d like to take this opportunity to thank them.” — Cindy Chopoidalo, founder of Expert Editing and Proofreading — expertedit.ca “I run to my local Business Link office to receive advice and any other useful information.” — Christophe Delmotte, CEO of Kore Solution Inc. — koresolution.com “Almost anyone can start a business, but running it profitably is another thing. Over the years, I’ve developed a terrific circle of professional business experts that I feel very comfortable going to for advice. Because I am confident in their ability to answer my questions, I have no hesitation in referring my clients to these same experts for the services they require. It’s all about building trusting relationships, and this is definitely a win-win.” — Jim Ewing, co-founder of Pro-Vision Solutions Inc. — linkedin.com/in/ JimEwingProVision “I have an almost daily touch point with a good friend who is a retired CFL player. Everything he has learned on the football field and has passed along to me has significantly helped me with my business. He coaches me, motivates me and gives me the guidance I need to make difficult decisions. Having a business coach and/ or a trustworthy mentor is critical for any small business owner.” — Natalie Harper, managing director of Harper PR — harperpr.com “Mentors! People that have been, or are currently in, business that I trust are an invaluable source of knowledge. They can share what worked and what didn’t, and sometimes the latter is even more helpful. I covet these relationships and hope to be able to offer the same one day to others.” — Alyson Hodson, partner and director of client services at Zag Creative — zagcreative.ca
“Mentors, peers and children are amazing resources. Mentors provide the wisdom from past learning experiences, peers provide current insights, and children view the world with pure innocence and simplicity — and sometimes, that is exactly what is required to overcome obstacles in business.” — Jocelyne Lanovaz, vice-president of finance of CashCo Financial — cashcanada.com “My first choice is always someone who is running a larger business than mine successfully, someone who has scars and lessons they have already learned so I don’t have to repeat those same mistakes. For more than 20 years as an entrepreneur, I have been successful in finding a mentor that I look up to and respect, and modelled the kind of leader I want to be after them. Currently, my mentor is Jeff Clark of Kitchen Partners, who shares my values and is intentional about creating a culture where those values can thrive.” — Linda Maul, founder of Creating People Power Inc. — creatingpeoplepower.ca “The best thing would be to create an advisory board made up of customers, suppliers, partners, and [professionals] you deem important to your business. This advisory board can be your guiding light, and provide unbiased feedback and suggestions to help you overcome any challenges and help to drive growth.” — Ashif Mawji, CEO of NPO Zero — npozero.com “One of the best investments I made early on was my business coach, Tyler. When I’ve told other small business owners they should do the same, some say that they can’t afford to. After a year of working with Tyler, I’ve found I can’t afford not to.” — Nikki Van Dusen, president of NikComm Inc. — nikcomm.ca “Often entrepreneurs struggle with reaching out for help, thinking they need to do it all themselves. This is admittedly a biased answer, but having a good coach whose only agenda is to help you meet your agenda is a great choice. I am a business coach, but I have a coach too! Together we identify the resources I need most, and plan out how to utilize them.” — Vicky Walker, founder of Empor Consulting — emporconsulting.ca “I’m so grateful for my colleagues in this city; we frequently share ideas and resources to help each other out. We even hire each other! My competitors aren’t competition; they are my friends and mentors. I couldn’t ask for more than that.” — Marliss Weber, owner of Parodos Communications — Parodos.ca “I work out of the amazing Unit B coworking space on 104th Street, and I know I can always shoot a question to the many talents who also work there, and they can do the same for me!” — Victoria Wiercinski, owner and designer of Half Design — halfdesign.ca
Hear Shari Graydon discuss how women can raise the profile of their businesses Where: AWE Edmonton Office (301-10310 Jasper Ave.) When: 7:30 a.m. to 9:30 a.m. Admission: $25 to $35. Details at awebusiness.com
10 Succession Planning Tips for Small Business A free webinar hosted by ATB Business and BizLaunch When: 1 p.m. to 2 p.m. Admission: Free. Details at atb.com/businessweek2014
2014 BAA Annual Dinner
NOV
2014 Productivity Summit: It begins at Why
PH OTO BY SA M BROOKS/C A PI TA L I D E AS
“I talk to other small business owners all the time; it’s like we’re kindred spirits who [formed] a bit of a support network. I also talk to our lawyers and accountants, but really it’s other entrepreneurs who give you the straight goods.” — Justin Archer, managing director of Berlin Ad/PR —brln.ca
An annual event hosted by Startup Edmonton that celebrates the city’s hottest startups Where: Epcor Tower (10423 101st St.) When: 6:45 p.m. to 10:30 p.m. Admission: $15 to $25. Details at startupedmonton.com/launchparty
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Sara Tharakan, CEO of Strategic HR Services (strategichrservices.com) credits her husband as her closest confidant. “He’s closest to me in terms of vicinity, and [I turn to him] because he thinks completely differently than I do … When I’m approaching something, I’ll go to him, and if he says it sounds perfect, then I know ou’re it’s right. If he asks me questions and I’m not able to answer them, then I know I need to go and do more oney in homework.” We caught up with Sara at the Edmonton Chamber of Commerce’s Small Business Week mixer on roject Oct. 20. For more Small Business Week activities, visit atb.com/businessweek2014.
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D7
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A University of Alberta business alumni networking event, featuring “Queen of the Startups” Bindi Karia Where: Winspear Centre (4 Sir Winston Churchill Sq.) When: 5 p.m. to 9 p.m. Admission: $125. Details at business.ualberta.ca/alumni
Information and inspiration to help organizations continue building on productivity Where: Northlands Expo Centre (7515 118th Ave.) When: 5 p.m. Wednesday to 5:30 p.m. Thursday Admission: $350. Details at productivityalberta.ca
Have an event that Capital Ideas should know about? Contact us at hello@capitalideasedmonton.com
These answers are in response to a question posed by Wellington Holbrook, executive vice-president of ATB Business. Here’s his take: “Advice is really important, and as an entrepreneur, it isn’t always easy to get the advice you need. Of course there is always family and friends, and if you know someone with a good nose for business, that can be a great help. Nonetheless, business owners also need professionals to ensure they do things right. Entrepreneurs count on professionals like lawyers for legal advice and accountants for accounting and tax advice. They also count on professional business. They are experts on how to get money into, and out of, your business, and how to build a balance sheet that will enable you to ensure the business can meet your expectations. Interestingly, in a recent ATB Business Beat survey, 38 per cent of business owners said they go to their business banker for advice, and the professionals at ATB Financial are working hard to try and help the other 62 per cent, too!”
COMMUNITY QUESTION: What have you done to put your business in a position to grow? Setting up a business to prosper is an all-consuming task that every entrepreneur focuses on, but what that looks like varies greatly from business to business. That’s why this week Tracey Scarlett, CEO of Alberta Women Entrepreneurs (awebusiness.com), is asking you to share: What have you done to put your business in a position to grow? You can answer the question in two ways: • Open today’s Capital Ideas email if you’re a member, or • Visit capitalideasedmonton.com We’ll publish the best answers, along with your business name and website address, on Oct. 29. Alberta Women Entrepreneurs is seeking nominations for its annual Celebration of Achievement award. Nominate yourself or a female entrepreneur you admire at awebusiness.com/ nomination-form before Oct. 31.
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