CAPITAL IDEAS c apitali d e ase d mont o n .c o m
P R O J E C T L E A D E R : K A R E N U N L A N D , 7 8 0 - 4 2 9 - 5 2 6 0; k a r e n @ c a p i t a l i d e a s e d m o n t o n . c o m
CAPITAL QUESTION:
UPCOMING:
How do you create and sustain 19 a culture of innovation? Entrepreneurs talk about finding great ideas to help their businesses
JUNE
Analytics for Breakfast
JUNE
AWE: Roadmap for Success
22
CAPITAL IDEAS15 “Innovation is created with open dialogue between all partners. Brainstorming is used to develop ideas and not come up with reasons why they won’t work. Innovation continues in companies with a strong vision, communication, celebrating small wins and instilling the proper values within the culture.” — Kevin MacDonald, business consultant at L6S Business Consulting Inc.—L6SBC.ca “Always add more to your business menu and take away the things that are not working, out-dated or costing you more than you earn from it. If you are the same as everyone else and continue on that path your clients may get bored with you. Change is inevitable if you want to stay in the game.” — Dorothy Briggs, publisher and owner of Womanition Magazine — womanition.com “We recognize that innovation and inspiration isn’t a nine-to-five thing. Ideas can strike at any moment. Sometimes we look at challenges while in different physical environments, that can spark innovation. For example, we’ve had walking meetings to let the outdoors inspire us while we solve a problem. It’s important to look up and get up from your desk.” — Sue Heuman, principal/co-owner, Focus Communications — focuscom.ca “We empower our teams to experiment with ingredients and techniques on a regular basis. Not every experiment is a success, and that’s okay. The consistent experimentation improves skills and feeds the creativity of our staff and innovation happens naturally.” — Gerry Semler, general manager of Bon Ton Bakery — bonton.ca “Never be satisfied with the status quo. Product development is a process and not a destination. I firmly believe that you can always ask yourself, ‘how can we provide a better solution?’ It may be to evolve a current product or develop an accessory. The key is to always look for ways to enhance the lives of your customer.” — Illarion Shulakewych, president of High Stick Vodka — highstickvodka.com PHOTO SUPPLIED BY: JAMES KEIRSTEAD
James Keirstead, president of Levven Electronics Ltd. (levven.com). believes that innovation happens slowly. “Innovation is a series of little steps that lead to game changing ideas, not a rare single epiphany. If we make little improvements in our companies, our processes, and our products, the future impact we have made for ourselves and the lives of others will be amazing.” You can hear more from James at today’s lunchtime panel (capitalideasyeg40.eventbrite.com).
“It’s important to set goals and metrics around innovation, so you can measure, evaluate, learn and repeat the cycle. Talk to your customers and suppliers about what they want for innovation, also talk to all your team members and you will find incredible ideas that you can then prioritize and implement.” — Ashif Mawji, president of Trust Science — trustscience.com
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 celebrating 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.
Roundup: Recent posts from Capital Ideas members From “White Space” by Lauren Sergy, owner of Up Front Communication (laurensergy.com): “So many people fear the sound of silence when giving a talk, but in reality it is one of our most overlooked tools. Just like the white space between paragraphs gives our eyes a break, silence gives our ears a rest as well.”
From “Seven Tips for a Great LinkedIn Photo” by Joanne Blake, owner of Style For Success (styleforsuccess.com): “Like or it or not, people form immediate impressions of you, about your level of professionalism and competence based on that single photo.”
From “Translations Gone Wild!!” by Michèle Hecken, founder and CEO at Alpha Translations (alphatranslations.ca): “Hey, we know it is not easy to translate documents from one language to another, but when organizations try to save money by hiring a bad translator or translating agency, the results can often be quite amusing!”
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@ capitalideasedmonton.com.
Learn how analytics can be used to improve your business Where: 4423 - 97 Street NW When: 7:30 a.m. to 9:00 a.m. Admission: $20. Tickets at spiekerpoint.com
JULY
Business planning workshop to help increase your odds of success Where: 10310 Jasper Ave., Unit 301 When: 5:30 p.m. to 8:30 p.m. Admission: $69. Tickets at awebusiness.com/event
Doing good in the neighbourhood A monthly panel discussion hosted by Capital Ideas Where: Edmonton Journal (10006 101st St.) When: 11:45 a.m. to 1 p.m. Admission: Free. Tickets at capitalideasyeg41.eventbite.com
For more great events, visit capitalideasedmonton.com/edmontonevents.
“Stay curious and interact with others outside your sphere of influence. Connecting the dots often happens outside your comfort zone. Encourage exploration, try to view mistakes as lessons and not failures. If something unexpected happens, ask what was learned from the result. What can be done differently next time to create a better solution?” — Kathy Johnston Umbach, principal of Human Dimensions Licensed Interior Design — facebook.com/HumanDimensionsID “Some people are stressed by change and some people thrive on it. Most importantly, you have to hire people who get excited by working in a dynamic environment. As a leader you have to encourage your team to bring forward and implement new ideas. At times this will require you to challenge yourself, your staff and even your customers to embrace change.” — Josh Spurrell, president of Spurrell & Associates Chartered Accountant — spurrell.ca
COMMUNITY QUESTION: What makes a crowdfunding campaign worth backing? 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 capitalideasedmonton.com We’ll publish the best answers, along with your business name and website address, on June 24. For more information on ATB Financial’s new crowdfunding platform, visit albertaboostr.ca.
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