motivation: loving what you do! with
Jaclyn Genovese
more on Page 18
LOVE IT OR HATE IT.
a guide to Video creation more on Page 12
MAXIMIZING PRODUCTIVITY:
TIPS TO TACKLE DAY TO DAY TASKS more on Page 8
BUSINESS BUDGETING 101 more on Page 34
CONTACT US DREAMER 2 C REATO R B USINESS MAGAZ I N E
18 JACLYN G ENOV ESE: M OTIVATI O N: L OV ING W H AT YO U D O !
P:
(647) 955 3567
E: articles@dreamer2creatormag.ca W:
www.dreamer2creatormag.ca
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EDITORIAL K A R E N M. LOWE Executive Editor F R A N C IN E GREY Creative Editor K I M BLEY LOWE-B EN N ETT Editor
06 O NE-PAG E BU S I N E S S P L AN by K AREN M . L OWE
30 L in ked I n for E n tr ep r en eu r s : IT IS O NL I NE B RA ND ING by SH EL LY ELSLIGER
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TABLE OF CONTENTS
RESO URC ES
Page 8 Maximizing Productivity: TIPS TO TACKLE DAY TO DAY TASKS By Ulana Thon
Page 12
Love it or Hate it YO U R G U ID E TO VI D E O CR E AT I O N By Angela Kafadar
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Page 34
BUY -S ELL AG REEM ENT: DEFINED
B U SINESS B UD G ET I N G 101 By Anastasia Gazarek
by Seun Adeyemi
28 C R E AT IN G A STRO N G BR AN D IDEN TITY By Tamika Messam
36 P I TC H C O M P ETI TI O N: A F I NANC IAL SO L U TI O N by Elissa Grohne
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editor’s note
If I had a dime for every time a person said they wanted to achieve something; was excited to achieve it; and yet their plan goes awry, I would be able to use those dimes to finance this magazine. Wanting something and putting in the work to create that something is so far apart, it is indescribable. I am all for listening to mentors motivate, but the ultimate motivation comes from self. Motivation for me is more than a belief system. Motivation includes follow-through, figuring out what my weaknesses are and working around them or despite them. One way I do this is by simplifying tasks. There are things we do not like to do or do not know how to do. As a result, we procrastinate to the point of not following through or leaving some essential parts of a project undone. When we do not see the required results, we give up. Our dreams die. Another way to look at motivation is that it is in our heads. We need to change the conversation in our heads to one of success. Again, easier said than done. Dreamer 2 Creator Business Magazine is intended to fill two needs with one deed. Each article is designed to teach you; to help you to simplify the process while being motivated by the person teaching you because they have lived or is currently living your experience and seeing success. You need to get to the next level by executing, but very rarely do you leave your mentors with steps about the task of creating your business plan or how to get money. Here is where you get demotivated all over again; having to do something you don’t know how or where to start. This magazine started as an exciting next step, a project I have wanted to do for a while. Regularly I get frustrated and scared. At the time of writing this and finalizing the magazine layout, I was sick with the flu. At those times, it is easy for me to give up. I stay motivated by focusing on the things I love. I went out of the house to ensure I would not give in to how weak my body was feeling. I focus on why I am doing it in the first place (I did it for you!) Above all, I simplify the tasks I do not like and attack them in bite-size pieces between the ones I love. After all, I need to stay in love! The articles in the magazine are intended to do just that, simplify your life and keep you in love. Stay Motivated!
KAR E N M . L O W E Executive Editor
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2 SUPPORT DREAMER2CREATORMAG.CA ISSUU.COM/DREAMER2CREATORMAG mail@dreamer2creatormag.ca
Copyright 2019 Dreamer 2 Creator Business Magazine. ISSN 2562-5330 (Print) ISSN 2562-5349 (Online) All rights reserved. No parts of this publication may be copied, reprinted, displayed, edited or distributed without the written consent of Epigram Consulting Services Inc. Dreamer 2 Creator Business Magazine is a Canadian Magazine, published and distributed by Epigram Consulting Services, located in Brampton, Ontario, Canada.
One-Page Business Plan Whether or not we should have a business plan depends on who you speak with. Most entrepreneurs do not have any business plan; some believe it is not needed, while others are unable to prepare one. One thing I believe is that you need a plan. If you are seeking investors, you need a formal business plan. If you are using your sweat and limited resources, it is best to prioritize where the limited resource goes; in all cases a plan allows you to set goals and work towards them. Without a plan, whether formal or informal, you are going around in circles. A solution to a short-term scenario is a OnePage Business Plan. A One-Page Business Plan gives you objectives and strategies to work towards specific tasks and can be expanded to a full business plan. There are many variations of a One-Page Business Plan, but the one I choose to adapt has the following sections: Mission & Vision Over the years, the definitions of the mission
and vision statements have been used interchangeably so do not focus on which is the correct definition. Your vision is about you while your mission is about your clients and your community. I want to think of the vision as the future -10 years in the future - while the mission is the now. Examples of Vision Statements: √ √ A charity working with the poor might have a vision statement which reads “A
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World without Poverty.” √ √ Restaurant: Create a five-star restaurant and lifestyle brand that will have reservations being made months in advance and a merchandising branch that allows for jobs and economic stability. Examples of Mission Statements: √ √ The charity above might have a mission statement as “providing jobs for the homeless and unemployed”. √ √ Personal Trainer: Creating products and services that will empower my local and national community to become healthy and stay healthy. Objectives What do you want to achieve based on the business or your lifestyle? Your objectives should be measurable and attainable. To be successful is not measurable. To make $5million in year one is measurable but may be unattainable for a hairdresser who is a virtual unknown and have little money for marketing. Here are some examples. √ √ Charity: To have provided 200 jobs for the homeless at the end of the year. √ √ Personal Trainer: To have 100 persons participating in boot camps and personal training services, monthly, by February.
√ √ Charity: Attend at least 3 HR networking events per week. √ √ Send out 25 resumes to my HR network per week. √ √ Personal Trainer: Offer free workout once weekly to corporations. √ √ Offer a minimum of 5 online training tips per week. √ √ French Restaurant: Provide samples to potential clients once per month. Finally, a one-pager is easy to prepare; anyone can do it! It is also easy to glance at daily to see where you are at; be motivated with what you will achieve, and to update as your objectives change.
Strategies Consider your strategy as a roadmap, which is the path chosen to get to the vision. The most crucial part of implementing the strategy is ensuring the company is going in the right direction. Your strategies should follow your objectives; strategies are used to achieve your objectives. √ √ Charity: Build network & professional relationships within the HR industry. √ √ Personal Trainer: Focus on corporate companies and gyms for the customer base. √ √ French Restaurant: Develop a French professional team for marketing within the French community. Plans/Tasks These are the tasks that need to be completed to achieve your objectives. These need to be specific and have a timeline. Examples: DRE A M E R 2 C RE A T O R B USI N ESS M A G A Z I N E
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MAXIMIZING PRODUCTIVITY:
Tips to tackle Day to Day Tasks
F
ormulating organic skincare for Alchemy Jane is the best part of what I do. It’s what gets me out of bed in the morning, it’s what I look forward to, and it’s truly where my passion lies. However, for the rest of the day to day activities required to run Alchemy Jane I’ve employed some tactics to keep me motivated and on a track that might be helpful for you and your business, (or even just your personal life). 1. Time batching Time batching would be my number one recommendation for efficiency. Rather than jumping from task to task, I set myself time blocks to repeatedly do the same task. For example, I take one hour every morning to work on “new projects” in this time block I don’t answer calls, emails, or check social media. I time batch emails twice a day, once in the morning after my “new projects” and again in the afternoon. But I don’t bounce around answering emails one at a time as they come in, this disrupts my train of thought, and I find it inefficient. DRE A M E R 2 CR EA T O R B USI N ESS M A G A Z I N E
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2. Use energy effectively I’m most energized in the morning, so I get into my flow immediately. Rather than start my day with meetings (I save those for afternoons, or at least after 10:00 am), I take on the most important task that requires the most brain power first. Whether that’s growing my customer base, improving my customers’ experience, or working on a future collaboration. These tasks also pump me up and add excitement, which I love because it sets the tone for the rest of my day.
3. Priorities First Also known as the Ivy Lee Method, I prioritize my day every morning from the most important tasks to least. I work on the most important task first and don’t move on to the next task until it’s completed. Again, I DO NOT move on until it’s completed. This is where the magic happens. I use to go for the easiest task first and leave the bigger, more complicated tasks for later. However, as things came up in my day, I seemed always to be pushing these tasks off for “later” creating unnecessary stress. Now that I start with the priority task first, I feel more accomplished.
4. Clean & Zen I keep a clean work environment both physically and emotionally. At the end of every day, I make a point of cleaning up my workspace. I also try to leave my area looking inviting by adding fresh flowers, a beautiful photo… anything that speaks to me. I start writing my priority list for the following day, adding anything that I didn’t get accomplished, and I include any other notes for myself. This clears my head for the rest of the evening, so I’m not repeatedly thinking about tomorrow’s to-do list.
5. Celebrate I celebrate my mini accomplishments along the way, not just the end goal!
“I PRIORITIZE MY DAY EVERY MORNING FROM THE MOST IMPORTANT TASKS TO LEAST. I WORK ON THE MOST IMPORTANT TASK FIRST, AND DON’T MOVE ON TO THE NEXT TASK UNTIL IT’S COMPLETED.”
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Ulana Thon Owner of Alchemy Jane Organic Skincare Calgary, Alberta
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DREAMS DIE MORE OFTEN THAN NOT BECAUSE OF A LACK OF MOTIVATION; NOT BECAUSE OF A LACK OF OPPORTUNITIES OR MONEY.
from Dreamer to creator: reframing deterrents in our paths
LOVE IT OR HATE IT:
YOUR GUIDE TO VIDEO CREATION Love it or hate it, video is the top marketing tool for social media. So why are you resisting?
I’ve had many conversations with entrepreneurs about the love-hate relationship with social media in general. Now throw in the pressure to create good value-based video marketing content, and that creates even more resistance. Despite what the experts are saying, many believe the hassle, time commitment and skills needed in creating great content creates too much stress, so it gets pushed to the backburner. OK, but what if I said videos DOUBLE your business (or even triple)? Now is it worth it? You can look at resources like Wysowl, Hubspot, Social Media Explorer for statistics. Recognize and accept that video marketing has taken over the web and social media. Views are up, and conversions are higher when you can demonstrate a product or service in a way that connects your brand to your audience. Video marketing was expensive to create and costly to distribute. Now, with our smartphones, it is literally FREE to create our videos, and FREE to share it on social media. Yet, we still resist! It’s so easy; anyone can do it. It feels like everyone else except you ARE doing it. Even worse, some of the videos are terrible! So rather than embracing video marketing, we ignore it. Why? It all starts with fear. Fear of putting ourselves out there and making mistakes is the #1 reason for this resistance. Mistakes that can be made include time, our most valued resource; mistakes could tarnish our image. Therefore it could cost potential clients. Alternatively, when done correctly, great quality video marketing content that resonates with our unique audience gets results! I am not suggesting you go out and hire a professional production company for your video marketing and spend thousands of dollars. Rather, here today, I’m going to share some of the common mistakes and how to avoid them. 1. Mistake #1, putting video off until … you get your hair done, lose 20lbs, get more clients, and get more DRE A M E R 2 CR E A T O R B USI N ESS M A G A Z I N E
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experience. Stop making excuses and start by planning one day this month to create videos. 2. Not having a plan or purpose. Doing videos just because the experts say so – instead, create a plan; write down who your audience is and what their problems are. Then simply start a list of how you solve their problems quickly and easily. Use that information in your video and give them a free tip - free information. Also keep it short, sweet and to the point. 3. Don’t just try to sell the audience something. Video marketing is like dating, let them get to know, like and trust you for who you are and what you do. 4. Learn some basic technical skills – learn how to use your phone as a marketing tool. There are technical errors you could make that could create negative perceptions and feelings; some of these include: a) Proper framing (not too close to the camera, not too far) b) Don’t put your camera too low (like on your desk) or too high, because this creates odd angles and can also make the viewer feel uncomfortable (almost like you’re talking down to them) c) Use a tripod, don’t go handheld whenever possible (shaky-cam can bother people, and your message doesn’t get heard because they’re so visually distracted) d) Be sure your face is clear and lit without harsh shadows: clean your lens, use your window to cast natural light on your face (don’t film with a window or light behind you) e) Look into the lens, not at your own image on the screen
Angela Kafadar is the face of Video Power Up, a digital marketing service company that offers a variety of seminars, workshops and programs to teach small business owners how to leverage the power of video to support sales and marketing for their business. We show entrepreneurs how to create their own marketing videos using their smartphones to gain a competitive advantage and level the playing field with larger businesses and corporations. We make video marketing easy, but more than that, we help entrepreneurs step out of the shadows and into the spotlight.
Contact: www.videopowerup.com Tel: 1.866.200.2515
Let me finish by saying, if you’ve made it this far in reading this article, certainly it seems like you’re serious about creating marketing videos. Learn fast, make mistakes, but keep moving forward. Your videos next month will be better than your videos today – you just need to start!
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This agreement creates certainty and a ‘game plan’ in case one or more of the partners are no longer able or willing to commit to the business.
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BUY-SELL AGREEMENT DEFINED Starting a new business venture can be both exciting and nerve-racking at the same time. Significant uncertainties and risks accompany the hopes and dreams of success, financial freedom, and being your own boss. To add to some of the anxiety, here come the facts: 1. About half of all new businesses will not be around within the next 5 years. 2. Only about one third will survive 10+ years. The situation often becomes more complex when there are multiple owners and the future success of a business is at risk if proper planning is not done. The unexpected ‘exit’ of a partner due to death, disability, illness or just simply that ‘it’s not working out’ can create a very difficult situation for the remaining business owner(s) and the business itself. Many businesses operate under a ‘handshake’ sort of agreement, but those rarely are upheld when the situation starts to get challenging. T_o protect against all of these pitfalls, it is always advised to have the right structure in place to address any potential challenges that may arise. This is done by incorporating a BuySell Agreement between the owners.
What is a Buy-Sell Agreement? A buy-sell agreement is a legally binding contract designed to establish a set of rules or actions for the remaining business owner(s) to carry on the business, in the event one of them is no longer involved in the business – this can be due to death, illness, injury, retirement or a simple desire to ‘get out’. In other words, how the owners will interact with each other when certain situations occur. This agreement creates certainty and a ‘game plan’ in case one or more of the partners are no longer able or willing to commit to the business.
Types of Buy-Sell Agreements
cross-purchase agreement, promissory note agreement, or a share redemption agreement. With a cross-purchase agreement, each shareholder within the agreement agrees to purchase a specified percentage of the shares owned by the departing shareholder, and if it’s due to death, the deceased shareholder’s estate is obligated to sell the shares. A shareholder will generally purchase insurance on the life of the other shareholder(s) and on death, will use the proceeds from the insurance to buy out the remaining shares from the deceased shareholder’s estate. With a promissory note agreement, corporateowned life insurance is placed on the life of each shareholder, with the corporation named as the beneficiary. In the event that a shareholder dies, the surviving shareholder purchases the deceased’s shares from her estate using a promissory note. Under the share redemption arrangement, corporate-owned life insurance is placed on the life of each shareholder with the corporation named as the beneficiary. In the event that a shareholder dies, the company collects the insurance proceeds and places the excess amount above the adjusted cost basis of the policy in the capital dividend account. The company uses the proceeds in the capital dividend account to redeem the shares held by the deceased shareholder’s estate.
Buy-sell agreements are generally structured as a DRE A M E R 2 C RE A T O R B USI N E SS M A G A Z I N E
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Each structure has its advantages and disadvantages and should be reviewed with a legal professional, tax professional as well as a knowledgeable Financial Advisor.
Why the business needs a BuySell Agreement A buy-sell agreement is a crucial component of a business that should be incorporated to protect the shareholders as well as the business itself. It is designed to ensure important things are taken care of if someone leaves the business for whatever reason so that the business can continue to grow and run successfully. A buysell agreement offers several key benefits to your business: • It maintains the continuity of your business by ensuring members get to decide what happens to the business before any problems arise. • It protects company ownership by laying out a succession plan for departing members. This keeps remaining shareholders from being burdened by untested and unproven successors (like the widow or children of the departing • • • •
co-owner). It minimizes dispute between remaining co-owners and the family of the departing owner by having a strategy in place ahead of time to govern business operations. It alleviates co-owner stress and uncertainty by specifically identifying which events would trigger a buyout. It protects business assets and liquidity by providing a financial (and tax) plan for each of the different triggers addressed in the agreement. It protects the interest of, not just the business entity itself, but also that of the business owners to ensure members (and their families, in the event of death or disability) are handled with respect, courtesy and the utmost fairness.
by S EUN ADEYEMI Contact: sadeyemi@sacapital.ca DRE A M E R 2 CR E A T O R B USI N ESS M A G A Z I N E
www.sacapital.ca Tel: 416-803-4538 - 16 -
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Rehoboth Electrical Services Inc
OUR TEAM IS READY TO SERVE YOU CONTACT US TODAY [289] 401-9742 Rehoboth Electrical Services INC. is an electrical contracting firm that values efficiency, quality and customer satisfaction. Our electricians can install anything from new security lighting for your outdoors to a whole home generator that will keep your appliances working during a power outage. DRE A M E R 2 C RE A T O R B USI N E SS M A G A Z I N E
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JACLYN GENOVESE:
motivation: loving what you do! Can you introduce yourself: Business Name, Your Name & Position and Business Contact details. Jacflash - Spaces by Jacflash, Fitness by Jacflash Jaclyn Genovese Founder and CEO Jaclyn@jacflash.net What is your origin (life experience that led you to become an entrepreneur)? Jaclyn: I think I always knew that I was going to be an entrepreneur, or at least work for myself, in whatever capacity it may be. My grandmother was an entrepreneur: she was a single mother of three boys who owned an antique shop and was even featured in Chatelaine magazine. My father is also an entrepreneur, so I always looked up to both of them, and they made me feel like anything was possible. How long has the business existed? Jaclyn: I established Jacflash in 2007- so twelve years ago now! It began with a clothing boutique on Queen St. West that I ran until I closed its’ doors in 2013. How was your business idea for Spaces by Jacflash conceived? Jaclyn: After a few years of running my store, Jacflash, I realized that I was no longer jumping out of bed, excited to go into work every day. I then knew that I needed to make a change. I finally decided to close Jacflash’s doors, and determined that I would continue online, but I wanted to see what else was out there for me. With the budget that I had at the time, I moved into a rental house, which my friends thought
I was crazy for doing. It was pretty run down and “haunted” looking, but within weeks, I had redesigned the entire space. I put up paneling myself, repainted the house, swapped out old fixtures and more, and when my friends and family came back to see the finished product, they were all shocked! Many of them then asked me to do their own homes, and from there, Spaces by Jacflash was born!
AFTER A FEW YEARS OF RUNNING MY STORE, JACFLASH, I REALIZED THAT I WAS NO LONGER JUMPING OUT OF BED EXCITED TO GO INTO WORK EVERY DAY. I THEN KNEW THAT I needed to make a change. In addition to Spaces by Jacflash, there is also Fitness by Jacflash and events that you organize, how do you manage everything that you do? Jaclyn: I am extremely schedule oriented, and I love to do lists. I have a small but incredible team that I couldn’t do what I do without. I think to make sure that everyone knows what tasks they have to complete every day and every week, and what projects are a priority, makes the business stay on track. If something doesn’t get finished during the workday, or before the weekend, like my bookkeeping and invoicing or design intent, then I will stay up late to do it, or make it my weekend task and I don’t really rest until it is finished. I have also learned to say no, which I was afraid to do years ago. Unfortunately, I don’t have time to meet all of the women that ask me for
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coffee every day, but I still communicate with them and listen to their needs. From this, my entrepreneurial workshop was born! I created an 80-woman workshop where I told my story; gave my favourite entrepreneurial tips and contacts; and allow them to ask me whatever they wanted! I am always getting creative in ways that will enable me to manage my time most efficiently. Was the business idea for Spaces by Jacflash tested and how? Jaclyn: As with everything that I do in my career, I set larger goals, but when it comes to planning the business, I prefer to take opportunities as they come and try not to plan too far ahead. Opportunities that I could have never imagined happening always seem to arise; for example, I recently got contacted to do a yoga workshop on the BMO Field this Summer with the Toronto Argos. I could have never planned for that. I treat my businesses as a hobby and do what I love doing every
day. I believe what sets me apart from other designers, is that I work with budgets of all kinds, and I typically go with my client’s own style. I take an inviting and unintimidating approach to interior design. What training is needed for the creative side of the business? Jaclyn: I haven’t had any formal training for Spaces by Jacflash, but my team has had all of the formal training/schoolings. In regards to the creative side of things, it all just seemed to come naturally to me. Interior design is similar to fashion, so I did have seven years of experience in the fashion world, and my grandmother and parents have always been into interior design, so I was literally raised in a design-oriented lifestyle. For persons without the training but dreaming of interior designing, how can they still create a successful business? Jaclyn: When I first started Spaces by Jacflash, I
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found someone on Kijiji to do my floor plans. As I grew the business, I hired more staff and went from offering just dÊcor to renovations as well. Don’t be afraid to start small and grow slowly. Some persons struggle with idea generation; how do you stay relevant? How do you keep ahead of trends? Jaclyn: Again, being in the fashion industry for so long really helped me to develop the ability to forecast trends organically. Much like with fashion, I try to stay more traditional and clean with my interior projects and add trends in more subdued ways, so that our spaces are still timeless.
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07/06/19 FITNESS BY JACFLASH X THE TORONTO ARGOS CO-ED YOGA WORKSHOP.
What training is needed to be successful at the business side of the business (Business side refers to budgeting, sales, operations, etc.) Jaclyn: I don’t have formal training for the business side of the business either, though delegating has become one of my strongest traits! I have a bookkeeper and accountant that send me the numbers monthly so that I can stay up to date and on track with what is going on with the business. How does a small business owner not get caught up in doing everything when they have a limited start-up budget? Jaclyn: Starting small is key. If you need to keep a part-time or even full-time job while you are starting, you can still create your own business on the side. I had my online clothing store, and I threw weekly parties when I started Spaces by Jacflash. I began with small décor projects, and did my own place, my friend’s places and grew my portfolio from there. As previously mentioned, I didn’t have a staff, to begin with, and had to hire someone to do floor plans at a flat rate per project. As I grew my portfolio and the business, I then
was able to hire staff. How did you get your second (2nd) and fourth (4th) clients? Jaclyn: I got my first few clients from my Instagram account; just by posting decor jobs that I had done over a few months. Putting your work out there and letting people know what you’re doing and what you are offering is so important, even if you think you aren’t ready or “good enough”. Persons struggle with one project; how do you stay motivated to manage all your projects? Jaclyn: Delegating and just staying very organized with my schedule and my teams’ schedule is how I manage to stay motivated and manage everything. I live off to do lists, and my email is extremely organized. I have five unread emails right now, all of which are tasks or people that I need to get back to. I also treat my email as a to-do list so that I don’t forget to follow up with people and to ensure that I don’t miss out on great opportunities.
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What are two business challenges or obstacles (in starting up or operation) & how did you overcome them? Jaclyn: My biggest challenge with all of my businesses was finding my USP (unique selling position). What makes me unique from everyone else that is doing the same thing as me? With my clothing store, it was my buying choices. I began by buying what I thought everyone else would want to purchase and played it very safe, but I soon realized that if I didn’t want to wear the clothing, why would anyone else? I was very
STARTING SMALL IS KEY. IF YOU NEED TO KEEP A PART-TIME OR EVEN FULL-TIME JOB WHILE YOU ARE STARTING, YOU CAN STILL CREATE YOUR OWN BUSINESS ON THE SIDE.
good at finding up and coming brands before anyone else. Once I decided to follow my heart and my gut and buy what I loved, I soon started finding unique brands that no one else in the country carried, such as UNIF, Wildfox, Alice & Olivia, Zanerobe and more. These brands all ended up blowing up, and Jacflash was the only store where you could purchase them in Canada! With Spaces by Jacflash, my USP is that I work with budgets of all kinds (though the client still has to be realistic, of course). I also work within my client’s style, so unlike many designers who just stick with their own “signature style”, I am very versatile. I love this because I never get bored, and my projects never feel repetitive. Fitness by Jacflash’s USP is that the
workshop is an entire experience. It is not only just a workout class but a community of women that come together to get STRONG together. The Fitness by Jacflash sisters are not worried about getting booty or abs, or getting our “summer bodies”- Fitness by Jacflash is about getting physically and mentally strong. There is also an educational aspect to the workshops, where we have a specialist come and teach us about various wellness topics such as Reiki healing, acupuncture or self -love. An OBGYN has spoken at one of my workshops, a pelvic floor doctor, naturopaths and more. We also include goodie bags at each workshop with boutique and often local brands that you can support, enjoy and learn about. Entrepreneurship is heavy on time and mental capacity, were you ever tempted to give up? If yes, what made you continue? Jaclyn: It may seem to outsiders that I “gave up” on my clothing store, but for me, it was more of a way to move forward with my life and business. Any “failure” that I have had in my work life or personal life, I think of as a learning experience, and I look at it as a way of making me stronger and better. In the middle of feeling like they are failing and demotivation or slow starts, how can an
entrepreneur continue to create or produce for their business? Jaclyn: By doing what you love! The only thing that motivates me every day is that I chose my hobbies as my career. Friday night, I would rather be scrolling through Pinterest coming up with new design ideas more than anything else. When you are passionate about what you do, you won’t be able to help but to push forward. Our magazine is about entrepreneurship and is not industry-specific, do you look at other industries for inspiration or ways to differentiate your services? Jaclyn: I am always brainstorming new business ideas and how I can propel my business by looking at outside businesses. I also do consulting on the side, so I love coming up with ideas for various businesses that are not just within my own field. How can an entrepreneur from another industry tap into your industry when looking for ways to differentiate their product or service? Jaclyn: Design, branding and marketing are in everything around us- design is in the product you sell, the service you provide and is something that will never die.
Anything you would like to share but was not asked? Jaclyn: One of my favourite quotes “Be fearless in the pursuit of what sets your soul on fire.”
Thank you for taking the time to share with us your wonderful and encouraging story, which is intended to motivate. I am motivated and hope our readers will be.
What are three tips/ideas entrepreneurs can use to simplify their tasks or projects? Jaclyn: 1. Manage the project accordingly- ensure that one person is on top of project management, so it is clear what has been done already and what tasks still need to be completed. 2. Delegate- if there is something that you don’t know how to do, or that you don’t like doing, the best thing you can do is to delegate and therefore use your own time more wisely doing the things you are good at and love to do. 3. Prioritize - ensure that you and your team know what projects or tasks are most urgent; what tasks have more time for completion; and tackle the priority projects ASAP. DRE A M E R 2 C RE A T O R B USI N E SS M A G A Z I N E
https://www.spacesbyjacflash.com/landing email: jaclyn@jacflash.net Tel: (647) 408 4551
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MOTIVATION ALLOWS YOU TO CREATE A PICTURE OF WHAT THE END PRODUCT WILL CREATE AFTER YOUR RESEARCH, PLAN, AND HARD WORK. from Dreamer to creator: reframing deterrents in our paths
Creating a Strong Brand Identity As entrepreneurs, we have all begun with an idea;
whether in our minds or on paper. The moment we’ve solidified our idea comes time to give it an image the audience will remember.
W
hen creating your brand, it is important that it encompasses the business’ mission, vision, and values. These are the components that helped me create Tandem Media, which is a conversation starter every time someone enters my space. I am always asked, “how did you come up with your name?” I always knew I wanted my initials to be a part of my logo, but my business couldn’t be named after me if I had plans for longevity. To begin deciding on an image that identifies your business, it’s important to consider the things that you, as the creator, want people to know. Choose specific colours that represent someone/ something you love or a colour that emits happiness onto others. This makes the creation process easy to do and explain should you ever need to. Most logos have a story behind them, and if one took the time to ask they’d be very intrigued by the stories that come with them. Furthermore, turning your vision into an image may be difficult, but it’s not impossible. With much thought, one
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Most importantly, ensure that your brand aligns with your personal values. Whatever you’ve grown to take pride in will always be instilled within you. Those things will also be embedded into your business. It’s easy to be who you are and much more difficult to practice a value you were never taught. Without strong business values; you can harm your brand’s identity, which can, in turn, damage your business. Creating a brand is quite simple; however, remaining true to it is the hard part. Things to consider before branding yourself: 1. Take your time; develop your idea first. 2. Research; ensure that your idea/name hasn’t been taken. 3. Register your name. 4. Brand it; design your logo by hand or simply connecting with a graphic designer. 5. Be creative; think outside of the box, never be afraid to stand out. 6. Align your brand with people and businesses within the same realm. 7. Do not be afraid to network; cold calling and face-to-face contact still works.
by TAMIKA MESSAM, OWNER of Tandem Media Contact: tandemmedia.ca
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should consider creating a tagline that can further deliver their message. This helps the audience understand what your logo may not convey. Most logos won’t determine a business’ functions, but the tagline can assist. It is paramount that these two things go hand in hand.
LinkedIn for Entrepreneurs: It is Online Business Branding Self-employment means you must build a brand and gain respect your own way both on and offline! LinkedIn is a handy tool to have, but many business owners underestimate its power to help.
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LinkedIn is a social media tool with a professional twist. You must know how to work it! LinkedIn works if you work it and for an entrepreneur, LinkedIn is the place to build relationships - The best start to collaborations, clients, partners, branding opportunities, support, introductions, and community. Furthermore, LinkedIn doesn’t blur or miscommunicate the lines between your personal information and professional image. In fact, it does an amazing job of showing who you are behind the title and business and why people may want to take the opportunity to get to know you better. LinkedIn also gives you a piece of personal real estate so you can build the story of you and of your business in a way that can make that first impression count! Your story matters because your story will make you memorable. This is not the time to worry about fitting in. It is the perfect time and space to think more about how you can effectively stand out! LINKEDIN STORY TIPS Background Photo Your background photo is a piece of LinkedIn real estate that often gets overlooked. This photo should be customized and working for you to connect you to your business and your offerings. Share your logo, tagline, a picture of you in action, or impressive credentials. You can even change your background profile temporarily when you have something special to showcase or an event coming up.
Canva is an excellent tool with the LinkedIn Background banner template ready to go! Profile Photo Current, classy, charismatic - and approachable! This photo is there to help you create a deeper connection with potential customers. There’s nothing quite like putting a face to a name to cultivate human interest. A profile picture guarantees you 14x more views. A profile picture helps people identify you, it helps you express yourself and connect with viewers in a more personal way, and it helps to build that “first impression.� “What I am after is the first impression - I want to show all one sees on first entering the room - what my eye takes in at first glance.� Pierre Bonnard
Tagline (AKA: Branding Statement)
The default tagline is your current title. Don’t live the LinkedIn default life. This section is important and part of the LinkedIn search algorithm. This space is 120 characters dedicated to “differentiationâ€? – the unique value you bring, problems you solve, credentials you have, and what sets you apart from competitors. A great tagline has a role: to highlight your unique value proposition (UVP), your personality, and your specialties combined with key “searchâ€? words; there to define and support the 4C-LinkedIn Branding Rule: Catchy ♌ Charismatic ♌ Compelling ♌ Confident Let’s take a look at a few taglines that are ruling the 4C-LinkedIn Branding Rule: Globally Recognized LinkedIn Trainer â—Œ Career Specialist â—Œ Confidence Coach â—Œ Empowering Women â—Œ #BeSociallyFearless (Shelly-Elsliger) Cultivating Emotionally Intelligent Leaders & Author of #NoApprovalNeeded (Kris Macc) Personal Branding Expert | Beyond Influential Podcast | Proven Strategies to Grow Influence Online That Gets Real-World Results (Brittany Hoffman) Expert Googler, Technical Interpreter, Gray Area Decider, Red Tape Cutter, and a little bit of IT (Angela Felix) We turn yourđ&#x;“ąđ&#x;“šđ&#x;“ˇfootage and photos into custom social and marketing video your customers will remember (Rob Deptford)
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Communications & Design Consultant | Writer. Editor. Layout Artist. Short Film & Video Content Creator. | #MichyMash (Michelle Pena) Sales & Personal Branding Consultant for Service-Based Entrepreneurs & Sales Executives | Wisdom Whisperer (Belinda Aramide) I Turn Company Pain Points Into Revenue Results-Driven Quality Assurance Leader & Organizational Transformation Strategist Contact (Brett. S. Brody) Funniest Man in Software - Proven Sales Professional (Dan Sally) đ&#x;’ĽIrresistible Offer Creator | Digital Marketer | Funnel Strategist | Storyteller | Coach | Podcaster | Speakerđ&#x;’Ľ (Jim Oliver) If you would like to use special characters, please visit Job Hunt for 50 Eye Candy Options. Special Characters can be used in your tagline, summary, education and experience sections and is a great way to get readers’ attention and highlight specific items you think needs more attention. If you are an entrepreneur, having a LinkedIn presence is necessary and important for you and your company’s branding strategy potential.
by: Shelly Elsliger President of Linked Express https://www.linkedin.com/in/selsliger/
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MOTIVATION VS EXCITEMENT: MOTIVATION IS THE BRAWN, WHILE EXCITEMENT IS THE HEART. from Dreamer to creator: reframing deterrents in our paths
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business budgeting 101 While the above items are important, an often-overlooked component when starting a business is creating a budget. Budgeting is key to financial success. A budget allows a business owner to determine sources and uses of cash. This helps determine how much money is required for startup costs on the business (securing a location, equipment, initial inventory, etc.) and the ongoing source or working capital. The budget will also help prioritize objectives, determining which costs are necessary to launch the business and which can wait until the business starts to grow.
You are putting your plan into action. Countless hours of thought and preparation have been put into the development of your product or service that you are hoping turns into the next Google or Facebook, and you are ready to take it to market. You are aware that there are many intricacies in starting a business, but the initial questions arise: What will I name my business? What should my logo look like? How can I market my business strategically?
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Prior to starting your budget, you must research all costs involved to fully understand the financial magnitude of the undertaking and ensure you are not caught off guard by unexpected expenses or overruns. A recommendation is to build in a 1015% buffer in your funding source for unexpected cost overruns. Also, consider speaking with industry professionals to get more insight. Three main components to consider when budgeting include: - Startup Costs - Operational Costs - Projected Revenues
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Startup Costs Startup costs are the expenses incurred before the commencement of business. Common examples include initial inventory/raw materials, equipment, branding/marketing costs, legal fees, etc. Underestimating startup costs can be detrimental to the success of your business, and thorough research is the best way to understand the costs involved.
Remember that failure to plan is planning to fail. The above provides a glimpse into business budgeting. Make sure you go into business with all aspects accounted for, and that includes the financial components. The best and brightest ideas can fail if they cannot get off the ground financially. A budget will not only help you initially but should be reviewed and adjusted at least annually as your business grows and adapt to any changes you may encounter.
Operating Costs Operating costs are those incurred in carrying out day-to-day activities of the business and include rent, personnel, insurance, accounting fees, office supplies, web hosting and maintenance, etc. These costs should be annualized in your budget, and then broken down monthly. By evaluating these expenses annually, it may become evident that some may not be practical. So before signing up for that monthly lease of $3,000 (which adds up to $36k annually), you may look to defer it to a later time and instead consider a more cost-effective short-term work space solution (i.e. coworking spaces or a home office).
Best of luck! Anastasia
Projected Revenues It is critical to determine how much your product/ service is worth and estimate how many you can sell per day/week/month. If your business is seasonal, this needs to be factored in. A realistic goal to work towards is necessary (while generating $1 million in year 1 seems nice, it may not be realistic). These projections need to be based upon the capabilities of the business. For a conservative estimate, take the projected revenue figure and sensitize it to 75% or 50% and see how your budget would look if your sales start slower than anticipated. Remember it is always best to have a pleasant surprise by underestimating, rather than overestimating revenues. Once you have determined your revenues, startup costs and operating expenses, you can calculate business profit (revenue – expenses = profit). Do not be discouraged if year 1 shows a loss as startup costs are typically one-time costs. Also, do not forget that when you turn a profit, you will need to pay tax. DRE A M E R 2 C RE A T O R B USI N E SS M A G A Z I N E
by
ANASTASIA GAZAREK
Contact: : www.eversavvy.ca admin@eversavvy.ca
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pitch competition: a financial solution It was my third year enrolled in the public relations program at Mount Royal University when I caught the entrepreneurship bug. My idea for a radiationshielding sports bra with a phone pocket was born from necessity. I was guilty of stashing my cell in my sports bra while running or working out, and one day while walking my dog, the phone slipped out of my bra and smashed on the pavement. I searched online for a pocket bra and found nothing that would provide tremendous support and comfort. After bringing the idea to my mom (who is extremely health conscious), we decided to explore developing our own sports bra equipped with protection from RF radiation (emitted from cell phones). After lots of searching, we discovered that no other company was doing what we wanted to do, and we knew we had something special. So I thought I’d bring this idea to the Mount Royal University Innovation and Entrepreneurship program. I was accepted into what is called the LaunchPad accelerator course— a course that prepares students for an annual pitch competition. It was a tough semester balancing three jobs and trying to pursue a startup business. I was shattered to hear, at the end of a long, sleepless semester that my application for DRE A M E R 2 CR E A T O R B USI N ESS M A G A Z I N E
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the competition was rejected. I “wasn’t ready,” said my professor. In hindsight, he was so right!
(under a t-shirt) and demonstrated the phone pocket. People loved it!
I’ve learned it’s not smart to rush things and that market research and strategic planning are extremely crucial to the success of a business. So I kept grinding for another whole year and applied again. Success! I was in! That was the easy part. Then came the pitch. I used Guy Kawasaki’s pitch method and would highly recommend it. Feeling nervous but confident in my product concept, I pitched to 400+ people and a panel of judges from the Calgary business community. I had a prototype made from a bra I had bought from Wal-Mart and had glued a piece of plastic to act as a pocket. It was rough, to say the least, but I wore it on stage
I walked away with $10,000 cash and $10,000 in branding services. From there, I was able to fund my first order. I went on to also win second place at the EO pitch competition. I believe my success was due to the strategic planning of my slides. I followed Kowasaki’s method while making them visually appealing and delivered it with confidence. When the judges had questions about my customer acquisition costs, etc., I knew those numbers.
I was guilty of stashing my cell in my sports bra while running or working out and one day while walking my dog, the phone slipped out of my bra and smashed on the pavement. DRE A M E R 2 C RE A T O R B USI N E SS M A G A Z I N E
I, like many people, am not good with numbers, and spreadsheets used to intimidate me. I’ve learned to embrace them and have realized that if you don’t know your numbers, your business is doomed. If you don’t know how much to ask for in your pitch and what you plan to do with the money, you look inexperienced and unprepared. My advice to entrepreneurs starting out is to leverage your resources in your city or community. There are so many - 37 -
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government grants and help from universities, etc. to help launch your business. You just need to do your research, talk to the right people and know what you want to achieve. I even received a free patent search (valued at $1,000) from Alberta Innovates, a government organization. Our economy is built on small business owners and entrepreneurs, and there are so many ways you can receive funding for your business, you just need to put the work in. Now, having perfected Swearit’s design over the past two years, I am finally getting sales and more importantly, more insight into what my customers want and need. I am constantly learning, adapting and pivoting my strategies in order to create a recognizable brand built by the women who have supported us. In the end, I’d say find your local pitch competitions, start a kick-starter, pitch to an investor, do whatever it takes to realize your dream, and never stop pursuing it. My dream is to do the ultimate pitch— Dragon’s Den!
by ELISSA GROHNE Contact: www.swearitworkoutwear.com
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BUSINESS: THE ULTIMATE ADVENTURE
resources Provincial Corporation The simplicity of provincial business registration varies from province to province. A federal corporation allows you to use your name in any province and will not allow you to use a name that is already registered in other provinces. Some provincial registrations will enable you to register a name that is already in use. *Keep in mind, it is your responsibility to ensure your business name is unique as this will affect the cost and results of your marketing efforts. Social Media Management Tools Social media management tools allow you to plan and schedule content before to date and time. They give you the freedom of posting a day or a week in advance and frees up your day to focus on immediate or urgent tasks. 1. Hootsuite has been around for a while. The free version allows you up to three streams and schedules up to 30 posts. Hootsuite also helps with keywords and reports as well. https://hootsuite.com/
2. Buffer allows up to three free streams and ten posts to be scheduled at any given time. https://buffer.com/ 3. Sprout Social is similar to Hootsuite in terms of what they offer. Cost starts at $99 for five streams. https://sproutsocial.com 4. Other social media management tools include eClincher, Sendible, Social Pilot, and CoSchedule. There are many more on the market if you wish to do further research. *Drop us a note on one of our social media pages to let us know which ones you think are the best. Canva.com Canva is an economical and simple to use graphic design do it yourself tool. Canva is used by professionals as well as nonprofessional graphic designers. Templates help non-professionals achieve a professional look. Template ideas exist for logos, flyers, social media posts, for print and many other features.
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EVEN WITH ALL THE EXTERNAL SUPPORT NEEDED TO HELP US, WE STILL NEED TO BE SELF-MOTIVATED. from Dreamer to creator: reframing deterrents in our paths
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