Starting Up – What Entrepreneurs Need to Know: Here is a recap of today’s Startup Canada #Startupchat, where we explored Starting Up – What Entrepreneurs Need to Know. 

My Advice: Successful #entrepreneurs need a clear vision of what success will look like for their business, and the dedication, courage, execution & tenacity to make that vision a reality. The possibility of failure always seems to be looming just around the corner. These are the #entrepreneurs that inspire me – @grassrootsk9, @DolcezzaCakes, @loveandnudes_, @SheDoesBiz, @bforganizing, @zainabcwilliams, @C_Panourgias @scotiabank #StartupChats

My advice: The freedom to set a vision & pursue the realization of that vision. You may be your own boss, but don’t be mislead, you will still have to answer to others in some capacity or another. You may have some freedom over your schedule, but don’t be mistaken, in the beginning, you will be working far more hours than a 9-5. Everything about your business is your job, #accounting, #it, #hr, #customerservice, #sales & #marketing – you may be in a position to find support, but ultimately you need to understand what is happening in every area of your business. At 2 am for the 10th plus night in a row you may be wondering where is the glamorous part of owning a business. In my experience, so far in this journey, I have found the constant benefit of starting my own business has been the freedom to set a vision & pursue the realization of that vision. @scotiabank #StartupChats

My advice: I think validating your idea is a big one, also looking at your idea through the eyes of your customers & answering questions like, “why would I buy this?” “Why would I buy this over other options available to me?”, “Does this product/service align with & meet my needs?”, “Does this purchase process align with my buying process?” Also, it is important to get a mentor, no matter what your background is, when starting something new, you don’t know what you don’t know & outsider perspective is invaluable. Finally, I think entrepreneurs need to walk a balance between hiring the right resources & cost-effectively doing everything themselves, in order to set themselves up for success. @scotiabank #StartupChats

My advice: The ‘Lean Startup Canvas’ is an adaptation of the Business Modal Canvas. Personally, I used the #businessmodelcanvas for my business as a beginning stage when planning. The business modal canvas allows you to outline the cornerstone areas of your business all on one page. It works very well to flesh out the idea & highlight weak areas. I still feel it is very important to work through a full-fledged business plan even when starting up, afterward, there is no corner of your business left unmapped & if you are seeking funding a 1-page plan will not cut it. @scotiabank #StartupChats

My advice:
1) validate your idea & reach your target audiences
2) map out your business, write your business plan & project your financials
3) make it legal – register your business/name etc.
4) find a mentor
5) find support for your weak areas

great resources include, Starter Company Plus, your local Small Business Enterprise Centre/entrepreneur centre your local library for free books. Here is a list of my favorite books for starting up http://bit.ly/2TfFDyT

@scotiabank #StartupChats

My advice: Do your research! This includes your competitors. Observe how their business operates from the customer perspective, what is their process for sales, & fulfillment. What are their weak areas & what are their strengths? Read their reviews. Look at how their website/shop is set up, how do the processes flow? How are other online channels such as social media & ads supporting their website/shop? This research will save you time on the learning curve & cut your trial & errors down. @scotiabank #StartupChats

My advice: Connect in with your local small business enterprise center or the economic dev. office in your area. In most cases, they will have business advisors & mentors who are well connected & knowledgeable about the grants & programs you may qualify for. They also may have access to Growth Wheel which can help you prepare your business & the information required when seeking investors. @scotiabank #StartupChats

My Advice: I was really lucky to stumble across the #BramptonEntrepreneurCentre when I was starting out. The city of #Brampton has dedicated a lot of resources to support local businesses & #entrepreneurs which have resulted in a thriving #startup community & includes events such as the @bramptonmastermind & workshops/sessions through the Entrepreneur center. They also launched a co-working space last year which has been a lifesaver for my business. I was finding it very lonely at the beginning which is what prompted my search for something local that I could connect with. Since then I have noticed that a lot of cities/municipalities within #ontario have resources set aside to support local businesses & startups just requires some searching on your part. @scotiabank #StartupChats

My advice: Mentors & advisors provide invaluable resources for #startups, such as accountability, experience, connections, direction, progress tracking & outside perspective. I think it is very important when seeking out a mentor or advisor that you find one who aligns with your approach to business & your values. As well as having strength in some of your weaker areas to help balance your business out even if it is just from a planning/reviewing standpoint. Right @DanielBishun & Prince Khan? Anything to add? @scotiabank #StartupChats

My advice: Here are 3 of my favorites “The future belongs to those who believe in the beauty of their dreams” – Eleanor Roosevelt,  “I’m convinced that about half of what separates successful entrepreneurs from non-successful ones is pure perseverance” – Steve Jobs & “Success is not final; failure is not fatal: it is the courage to continue that counts.” Winston S. Churchill @scotiabank #StartupChats

My advice: I think it is important to map the progression your business will take as it moves towards the realization of your vision, & answer what does the business look like at each stage. This will help you plan ahead based on the anticipated, changing needs of your business as well as track the progress against a projected timeline & provide a sense of direction. This will also break your goals down into smaller steps & achieving these steps will give you a sense of accomplishment. @scotiabank #StartupChats

Closing off:

Thank you  @Startup_Canada
for inviting me to participate in today’s #StartupChats & thank you to the sponsor
@scotiabank! Hope to chat with everyone again on Feb. 26th when we explore Selling Online!

How To Start Up Strong is an important factor and as #entrepreneurs one thing we universally understand is the need to do more while spending less – why should our approach to marketing be any different?

If this sounds like you, check out my free ebook ‘How to Market a Startup: 10 ways to bootstrap your sales funnel for success. #StartupChats

To check out the awesome advice from all of the advisors who participated in this How To Start Up Strong chat, view this thread on Twitter

How To Start Up Strong: Here is a recap of today’s Startup Canada #Startupchat, where we explored How To Startup Strong. The event had 39 contributors, 29.7 million impressions!

My Advice: I love data, which is fitting as I offer data-driven marketing solutions. I believe you should be reviewing your results on a monthly basis. This helps you track your progress in reaching your goals & by doing so on a monthly basis you have a better chance at catching any issues as they begin to occur. Also by tracking on a monthly basis, it breaks down the amount of work you face at year-end when revisiting your goals & writing your next year’s business plan. I have built a tool in excel that allows me to track my monthly revenue vs. the goal, my leads, prospects, proposals submitted, & my close rates. All of these results help me set achievable goals for the coming year. @SovInsurance #StartupChats How To Start Up Strong!

My advice: Your new annual plan should be based on your previous year’s results, the lessons learned, and from there, your next year’s goals should be set. Once the plan has been created it should be full steam ahead. As I mentioned I track monthly so pulling all of the results together & building out my new plan usually happens over two weeks, during the Christmas holiday break. @SovInsurance #StartupChats

My advice: Businesses can differ significantly, so in general, I would say the previous year’s results, the results you would like to achieve in the coming year & how those yearly results break down into trackable monthly goals. @SovInsurance #StartupChats #StartupChats

My advice: Indicators can be external & internal, I have clients in the US & the current political climate & recent events, causes instability with ongoing & upcoming projects, which lead to an adjustment in my business goals & re-evaluate my insurance. Internal signals come from customer service & satisfaction feedback channels. I work to keep my processes & practices fluid to improve & streamline. @SovInsurance  #StartupChats 

My advice: The marketing plan adjusts to reflect what is working & what doesn’t seem to be working, which can cause fluctuation in the budget. The goals tend to shift as well throughout the year based on results & other changes. @SovInsurance  #StartupChats

My advice: As a solopreneur who will be expanding shortly, I am interested in seeing what the other advisors have to recommend. @SovInsurance  #StartupChats

My advice: As a solopreneur I don’t have any internal buy-in to worry about, but if the changes affect external project stakeholders, such as my clients, I make sure to include them in the process & seek out their perspective & feedback. This ensures they are part of the process & we end up with solutions that work for everyone one involved. I also make sure to document my processes for future reference & to on-board support should I need it. @SovInsurance #StartupChats

My Advice: While writing your yearly business plan it should include a section that outlines the possible risks associated with your goals/business & what possible solutions could be implemented. By getting these out onto paper (or rather your PC) it gets you thinking about what can go wrong, how to fix these issues & perhaps what can be done to prevent them entirely. This also allows you to have a game plan to fall back on should you find yourself in the middle of a crisis. @SovInsurance #StartupChats

My advice: It is important to review your insurance & your coverage while writing your yearly business plan to ensure that your goals & any changes in direction for your business will still be covered. For example, when I started signing clients in the US, my insurance went up based on the % of revenue generated outside of the province my business is located in. @SovInsurance #StartupChats

My advice: I find that the best way to achieve this is by breaking down your long-term goals into what needs to happen in 5 years, 3 years, 2 years & the current year. This will help you outline the tasks or steps that need to be taken in order to process towards & ultimately achieve your goals, along with the KPIs to track the process at each scale level. This can work with revenue targets, expansion plans, customer service ratings, audience growth, etc. @SovInsurance #StartupChats

My advice: Start thinking things through & pulling together the info you need in Oct. with the goal of completing the plan in Dec. This will allow you to think things through & revisit it over the course of a couple of months. This will allow you to get your pipeline & marketing activities organized ahead of time & hit the ground running in Jan. If you wait to write it every Jan. you will need to include ramp-up time in your goal setting & might cut yourself short. @SovInsurance #StartupChats

Closing off:

How To Start Up Strong is an important factor and as #entrepreneurs one thing we universally understand is the need to do more while spending less – why should our approach to marketing be any different?

If this sounds like you, check out my free ebook ‘How to Market a Startup: 10 ways to bootstrap your sales funnel for success. #StartupChats

To check out the awesome advice from all of the advisors who participated in this How To Start Up Strong chat, view this thread on Twitter

Here is a recap of my first Startup Canada #Startupchat as an entrepreneurial advisor, where last week we explored productivity solutions for 2020:

My advice: #entrepreneurs can find productivity gains across their business by implementing a #techstack that integrates & automates various #sales, #marketing, #accounting, #customerservice & #projectmanagement processes & tasks. I use ActiveCampaign for my marketing, sales & customer service, Wave for my accounting, Paymo for my project management, Google forms as customer feedback channels, Agile CRM to allow customers & prospects to book meetings, and Zapier to integrate all of these software solutions together – push and pull data, moving customers & prospects through automated workflow that saves me time while providing them personalized experiences with my brand, on-demand.

My advice: Yes, I have built a productivity plan. It includes my strategic, tactical & operational business plans which are updated yearly, paired with a solid project management software. By taking the time to write/update these 3 plans all of the details for my business have been outlined & always has direction. @cocacola_ca #StartupChats #StartupWomen

My advice: I used @paymo as my project management software; Paymo functions built-in that allow you to track the time spent per task & logs that time back to each client. It also has a mobile app & is free if you only need one user. I also run @rescuetime in the background on my pc & my mobile as a fail-safe, should I need to verify the time spent in each program. @cocacola_ca #StartupChats #StartupWomen

My advice: @googledocs is a great (& free) option for capturing talk-to-text meeting notes, & since I used @googledrive as my client file manager it is very easy to give the notes a quick read through & save to their drive folder. @cocacola_ca #StartupChats #StartupWomen

My advice: I like @paymo. @Countersoft has a great option as well, with its Gemini tracking & ticketing software. Paymo is free with 1 user or $9.56/user/month. Gemini is $10/user/month. Both paid options can be built into monthly packages @cocacola_ca#StartupChats #StartupWomen

My advice: @SlackHQ is a great option, that offers group calls with screen sharing, workspaces, & chat-like communication options for $8 USD/person, per month, when billed monthly. @cocacola_ca #StartupChats #StartupWomen

My advice: As a solopreneur who will be expanding, I am interested in seeing what the other advisors have to recommend. @cocacola_ca #StartupChats #StartupWomen

My advice: I use @activecampaign as my marketing & sales tool. You can build out funnels to track $ per channel & can set up custom #leadscoring for your business. It also has #websitetracking & #marketingautomation. I have connected it with @agilecrm through @zapier to allow customers & prospects to book meetings as a part of my fully automated lead qualifying process that includes pre-meeting assessments built-in @FormsGoogle@cocacola_ca #StartupChats #StartupWomen

My advice: I use @wave_hq to manage my accounting & offer online payment options to my clients. Wave is free to use as an accounting software with paid options that include running payroll & bookkeeping. Wave can also be integrated with a number of applications through @zapier. @cocacola_ca #StartupChats #StartupWomen

My advice: Being an #entrepreneur is stressful & takes a toll on your #mentalhealth. I like to use @Headspace for meditation & to quite my mind for a restful night’s sleep.@Headspace also has daily courses to help you work on reducing stress, anxiety, prioritization, etc. I also like an app called strides to stay on track with healthy habits. I like @MyFitnessPal & an app called peak. @cocacola_ca #StartupChats #StartupWomen

My advice: I feel the most important thing for #entrepreneurs to do, is to clearly define your 2020 goals & KPIs as a business & measure every task/place you invest time against these goals. Then ask yourself, how are these investments of your time aiding you in reaching your targets? @cocacola_ca #StartupChats #StartupWomen

Closing off:

As #entrepreneurs one thing we universally understand is the need to do more while spending less – why should our approach to marketing be any different?

If this sounds like you, check out my free ebook ‘How to Market a Startup: 10 ways to bootstrap your sales funnel for success. #StartupChats

To check out the awesome advice from all of the advisors who participated in this chat view this thread on Twitter