capital ideas c a pi tali d ease d mon t o n .c o m
P r o j e c t l e a d e r : j e f f sa m s o n o w, 7 8 0 - 4 2 9 - 5 2 7 9 ; h e l l o @c a p i t a l i d e a s e d m o n t o n . c o m
COMMUNITY QUESTION:
UPCOMING:
How did you overcome an unexpected obstacle in business?
SEPT
Purpose & Productivity
SEPT
Entrepreneurs share how they have dealt with unforeseen problems
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BoostR Stage pitch event
SEPT
Connected Business Women Network Breakfast
“When our new business was faced with permitting problems, we booked a meeting with the responsible party from the appropriate municipal office and explained our situation in detail, keeping it honest, simple and straightforward. They allowed us to keep operating and worked with us until our permitting issues were resolved.” — Renee Majeau, co-owner of City MiniMix Concrete Inc., cityminimix.com “The anti-spam law that came into effect last year created a significant loss in our email subscribers. The upside of this change was the need to come up with new ways to drive traffic to our website. We have higher engagement and more business as a result of this change.” — Jacquie Boily, freelance graphic designer at Jacquie Boily, behance.net/jacquieboily “As a small business owner, I cannot count the number of obstacles I faced, but any obstacle was a welcome challenge to learn and grow more. It builds character and primes you for the next obstacle. Welcome new challenges everyday, each one teaches a new lesson.” — Conrad Erbes, general manager at CE Security & Consulting Inc., cesecurity.ca
PHOTO SUPPLIED BY: NAV SCHEIE
Nav Scheie, life coach at Nav Scheie Coaching (navscheiecoaching.com), has an optimistic attitude towards obstacles. “I work with my deep rooted belief that no matter what happens, I will make it through. With that belief in my back pocket, I then seek out help from others. I reach out to online or offline experts in the areas where I am struggling or I read and seek information/best practices on how I can improve or get past this obstacle. Then I apply what I learn, even if it feels scary. Usually I get past the so called obstacle. I remind myself obstacles are opportunities, opportunities to polish myself or my business.”
Plan, prepare and diversify. An unexpected obstacle is hard to plan for, that is why it is unexpected. However, planning mechanisms and processes when in place and practiced can allow for reduced response time, reduced anxiety and minimized impact. Have an established emergency response team and make planning and action part of the corporate culture. — Darryl Moore, vice president of marketing and communication at Executrade, executrade.com
“There have been challenges in creating something that no one else has. The journey has been in redirecting situations that bring obstacles and always remembering when someone tells you not to give up. Most important is keeping the vision of where you want to be and everything will fall into place.” — Shirley Zago, jewellery re-designer at G&G Designs “This may sound simplistic, but I have always tried to anticipate what kind of bumps I may encounter. There’s always a downside to consider. My success came from guessing accurately (with a dash of luck) and being somewhat prepared. Whether you are a large business or a freelancer, everyone has to continue to try and anticipate the shifts in the market and assess go-to contingency options.” — Michael Kryton, author of A Brilliant Idea Every 60 Seconds, michaelkryton.com “When I meet something I didn’t expect, I try to see if it can be incorporated into my business as a positive change. Just because something is unexpected, doesn’t mean it’s bad, it’s just different. The unexpected can often catapult your business into new directions depending on how you handle it.” — Deirdre StLuke, corporate storyteller
These answers are in response to a question posed by Rob de Groot, head distiller of Red Cup Distillery Here’s his take: “Red Cup Distillery is producing less than 1% of an industrial distillery and we needed to hire an engineer to write a craft distilling definition so we could complete our provincial permit. We chose to run an Alberta BoostR campaign to help with the surprise $5,000 bill. The additional capital from the crowdfunding ensures that we will be on budget, creates pre-sales, and increase our public profile. When the campaign will be completed at the end of September the process will have introduced me to hundreds of new people, media and begin valuable relationships for years to come.” For more information on Red Cup Distilliery’s crowdfunding campaign, head to albertaboostr.ca/explore
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A day-long workshop to give your work better clarity, purpose, and an actionable plan to make progress. Where: Lister Centre (U of A campus, 11613 87 Ave.) When: 9 a.m. to 4 p.m. Admission: $899. Tickets at meaningandflow.com
Attendees hear pitches from entrepreneurs and get to help fund their plans the same night. Where: The Club at The Citadel Theatre (9828 101 Ave.) When: 5:30 p.m. to 8:30 p.m. Admission: $20. Tickets at albertaboostr.ca/connect
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Includes breakfast, speakers, networking circles and opportunities to connect with like-minded business women. Where: Chateau Nova Hotel (159 Airport Road) When: 7:30 a.m. to 10:15 a.m. Admission: $44. Tickets at cbwnedmonton.com/events
Small Business Week
OCT
19-23
This year’s Small Business Week focuses on needto-know information for small businesses seeking stability and prosperity in a rapidly changing marketplace. Where: Various locations (Edmonton, AB) When: New events every day (Monday-Friday) Admission: Details at edmontonchamber.com/events
For more great events, visit capitalideasedmonton.com/edmontonevents.
“By remembering that being an entrepreneur means dealing with challenges day in and day out. However, knowing that your team and you will be able to solve anything in your way helps! I asked for advice and guidance from all my trusted advisers, as well as my team. It’s amazing what collaboration can bring in terms of solutions and creative thinking. Above all, remember, everything is possible.” — Ashif Mawji, president of Trust Science, trustscience.com
CAPITAL QUESTION: When should you start planning for succession, and how do you prepare? Whether you run a family business or could one day succession planning is a helpful way to prepare for your business to thrive without you, which is why Wellington Holbrook, executive vice-president of ATB Business, is curious to hear from you: When should you start planning for succession, and how do you prepare? 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 September 9th. To learn more about succession planning, register for free to attend the next Capital Ideas panel, “How do you succeed at succession” next Wednesday, September 16 at capitalideasyeg43.eventbrite.com
Roundup: Recent posts from Capital Ideas members From “Marketing, not just a line on your cash flow statement, but a routine in small business.” by Alexandra Kulas, programs facilitator at Alberta Women Entrepreneurs (awebusiness.com): “Marketing is an overwhelming word for small business owners. First off, as a small business your budget can be restricted. Do you really want to spend money on advertising in hopes that customers might come knocking at your door?”
From “5 Steps to Avoiding Bad Online Reviews” by Katie Pearse, marketing manager of Summit Benefits Consulting Ltd. (summitbenefits.ca): “The critical word here is AVOIDANCE. Once a customer’s bad review gets published online, it’s nearly impossible to get it removed. And while the damage may be minimal, as business owners, we’d all prefer those elusive five stars, all lit up, wouldn’t we? Of course, we all make mistakes, and when we do, it’s time to eat humble pie.”
From “From the Dugout: The Marketing Game During Rainy Seasons” by Jason Bekdashe, principal of TransparentC (transparentc.ca): “Your messaging and marketing effort should reflect the times. Working in a marketing role during a time like this is can be extremely fulfilling because this is when you see innovation, partnerships and authentic messaging vs. the promotional crap marketers are tempted to sling during good times.”
Find the full posts on these members’ LinkedIn profiles or at their websites. We’ll curate a selection every Friday in our LinkedIn group, Capital Ideas Alberta. To bring yours to our attention, email it to hello@ capitalideasedmonton.com or post to LinkedIn with the hashtag #capitalideas.
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