entrepreneurs

Date: October 30, 2014

Name: SOHO SME Business Expo 2014

Presenters: Various Panelists

SOHO is a business group that provides and connects small and medium size enterprises to tools for success. Moreover, they provide resources and advices to promote and inspire local business to grow. Moe Somani, the Founder and CEO of SOHO, presents the main event of SOHO SME Business Expo 2014 to celebrate and engage all local professionals leaders. The conference includes main major sponsors, including TELUS, SAP, and Bell, and keynote sessions. This event creates opportunities for many local entrepreneurs to learn from different industry leaders.

Is email marketing dead? Is social the way of driving new customers?

Email is one of the main marketing tools for many small businesses. Due to the regulation of CASL, businesses need to face more marketing challenges to increase their clients and prospects. The panel includes, Melonie Dodaro, the CEO of Top Dog Social Media, Luke Aulin, the CEO of RTOWN, Roger Graham, the senior manager of Product Marketing from Hootsuite, and Brain Scudamore, the Founder of 1-800-GOT-JUNJK. The moderator, Bosco Anthony, the Business Growth Strategist, will interview their views of the marketing trend.

There are many social media network tools that are available for business owners. It is important to figure out the best fit for the company. Now companies are investing in content marketing because there is a shift from traditional advertisement to digital advertisement. It will be difficult to figure out the effective tool until the company understands the goal and vision. The panelists suggest companies to focus on relationship by telling stories to add value content. Nevertheless, it is all about message, not the medium.

The Canada’s Anti-Spam Legislation requests all companies to report spam. Companies are required to get permissions from clients for email marketing. Companies need to keep record tracking for integrity. The panelists believe email marketing is not dead; in fact, the legislation helps all companies to review the procedure. Most companies are not using the email marketing correctly, which results of ineffective marketing and loss interaction. Companies need to ensure to build relationship to provide values for clients. Moreover, clients will accept to be in the email list.

When companies have limited marketing budget, they should pick and choose. Panelists suggest connecting with local press to influence the target market and most companies are moving towards mobile. In addition, it is important to figure out the culture value to attract the right people. Many amazing people want to be involved with the cause; this shows the importance of the right culture for the right team. The right culture will embrace the right team and realize the challenges they are facing are their motivation.

In this generation, the power is in the hands of the customers. They know before they approach to companies. Companies need to find the best tool to communicate with their clients. The panelists recommend all companies to go back to the fundamental and understand what clients are looking for.

“Network size matters, but quality is even more”

“No such thing as the marketing team; everyone is involved”

Money money money: How to get it, manage it, and grow it

Money is one of the key elements for any business growth. Businesses are struggling to find the ways to utilize their resource effectively. The panelists include Jonathan Bixby, the Founder of HIGHLINE, Amy Millman, the President of Springboard Enterprises, Paulina Cameron, the business development manager of Futurpreneur, and Sandra Horvath, the Senior Director of Business Development from Sage. They will share their valuable insights to access the funding and help businesses to manage effectively.

People are making mistakes to access additional funding from investors by either asking too much or asking too little. Business owners need to prepare business plan with proof of statistic to convince investors for funding. Companies need to figure out the right kind of money and right kind of investors because they can influence the direction of the company. The panelists suggest small businesses to use debt equity as their option of funding.

Angel investors are looking for team that builds global business. Their intention is money, marketing, and management. Moreover, they are looking for potential growth of rate of return. There are many other programs that small business can take advantage. Government of Canada is introducing Concierge Programs for small businesses to apply for grants. There are also many innovative technology funding companies that are looking for expansion. The important key is for businesses to look at their vision and figure out the right kind of grants.

The triple bottom line is still an interest for many investors. There are still many investors who will give up the return for social impact. Startup companies are the easiest access to funding because there is no business history. Business history will influence investors’ decisions because companies need to prove to investors their previous money decision. Therefore, companies with long history will be difficult to access funding.

There are still many Canadian investors that invest to companies that are in different countries. It is important to ask in advance for prohibit agreement.

Companies have less visibility will have difficulty with managing money. The impact will lose sight of expenses. Companies should accept payments directly as much as possible because money that comes efficiently will improve the cash flow directly.

Owners should surround themselves with success people. They should hire success group advisors because nobody can do it alone. The panelists suggest company owners to hire advisors as soon as possible.

“Pay them now, or pay them ten times in future”

Panelists believe control cash flow is important. Companies that require immediate cash investment are in bad position. Banks are looking for control and management. Canadian banks have their bank formula to determine the qualification and risk. Companies should build the relationship with their banks.

Panelists believe many entrepreneurs fail to access funding because they can get difficult. They should do their due diligence and look at the rest of the investors group. The behavior is important and they should know who they deal business with.

Dell VIP Lunch – Understanding the Entrepreneurs

Kevin Peesker, the President of Dell, illustrates his view of entrepreneur’s traits. Entrepreneurs are the ones who get up early with passion and commitment. Moreover, entrepreneurs believe risk taking is their essence of life. Entrepreneurs are inspired with stories that differentiate themselves out the world. Entrepreneurs have the power to do more. Furthermore, entrepreneurs have the passion to grow business in the world.

Peesker introduces Dell’s entrepreneur’s pillars of innovation, which includes network, capital, technology and knowledge as their model, and Founders 50, which includes the model of brand awareness, network, sales enablement, technology and capital.

Peesker invites Dell’s directors, Michael Mclay, Jonathan Bixby, and Amy Millman to discuss about the impact of Dell to small businesses in Vancouver. They believe the driver of entrepreneurs is to create opportunities to make a difference in world. There is such thing as entrepreneur DNA and they usually ask millions of questions until they figure out the system. Entrepreneurs are inspired with success stories in their early life to motive them to change the world. The common theme for entrepreneurs is that they do not give up easily.

Entrepreneurs believe if they only have one life to live, they will not make money for someone else. There are many people who talk but less action. They usually give up very easily; however, entrepreneurs will find ways to break that obstacle.

Dell can help entrepreneurs to discover new solutions. They can provide advices for startup companies. In addition, Dell is working closely with entrepreneurs to help them meet with many high level people and access to key expertise. The panelists encourage entrepreneurs to invest their time to Dell for future planning.

“Life is short; just ski down and you will be surprise”

Uncover the Power of Mobile Technology

Paul Romanchych, the Vice President of Bell Mobility, share his view of technology world today. Technology helps people to connect the world they live in. Many advanced technology devices are becoming more integrated with people’s lives. The stats show technology improves customer services by 73%, increase transaction by 28% and connect with meetings by 29%.

In the life of business owners, there are five challenges owners are facing that technology can help to resolve.

The first challenge is “the proof of completed work”. Business owners can use the latest wireless devices to capture the work. The devices are HD videos, high resolution photos, and editable software. The second challenge is “the office to go”. Technology can keep owners connect, work anywhere, and get access to the data from temporary offices, tradeshow and customers premises. The third challenge is “mobile payments”. Technology can maximize owners’ bottom line and process the payment on the go. Owners can generate more sales and evaluate customers experience with technology efficiency. The fourth challenge is “hard environment”. Technology can cater owners to overcome many environment issues, such as rain and snow. These devices are waterproof smartphones. The last challenge is “a remote workforce”. Technology can help owners to track where employees locate all the time. This will ensure the workforce stays productive.

The mobile form of technology is advancing in the generation. There will be no more paper work and the device can help owners to complete forms online instantly. Tablets can make owners more productive and it is important for business owners to leverage the applications and solutions to increase efficiency.

The presentation invites technology experts, David Potter, the Marketing Manager of Citrix SaaS, Mike Agerbo, the Co-Founder of Blink Media Works, Brett Stenner, the Account manager of Samsung, and Mark Asay, the Director of Sales for vCita to share their insights on how technology can help small businesses.

Technology is using bigger screen to capture businesses. The advance devices have the ability to update automatically with no cost. Technology helps business owners to focus on work. Most devices have strong security protocols to test for compliance issue.

Most devices can help business owners to schedule meetings and form back office. As technology progress, business owners are focusing on the touch and the feeling. They are looking for solutions on apps and expect apps to help them market their clients.

In the future, smart watches will be on the trend of technology. The new technology will not require business owners to insert passwords. They will act as the Theo meter of business and provide notification for business owners. Technology can provide many great opportunities for small businesses, including accessing content resources, reaching out to expertise, and presenting their products.

The panelists believe tablets will soon replace the laptop and projectors. It is important for small businesses to invest their resources on technology.

Inspiring Entrepreneurs

Moe Somani, the CEO of SOHO, invites the award-winning entrepreneurs to discuss their journey of entrepreneur. The panelists include Meredith Powell, the Co-founder of The Next Big Thing Foundation, Cybele Negris, the President of Webnames, Kim Cope, the Founder of Early Entrepreneurs, Chris Bolton, the national youth ambassador of The Next Big Thing, and Daniel Dubois, the Founder of Shareshed.

All entrepreneurs start with their passion to change the world. Powell believes her foundation focuses on the scale of business and provides passion to give it forward to the next generation of entrepreneurs. Negris believes it is important to educate people to take advantage of the new technology. Cope inspires by the attitude of entrepreneurs. Bolton inspires by teaching other people the creativity of technology, and Dubois believes entrepreneurs can figure out the reason behind everything.

Entrepreneurs face many challenges in their career paths. Negris believe the main challenge is to find the right people. The right people can bring the right information. This will help entrepreneurs to reduce redundant work. Entrepreneurs need to be more strategic. Moreover, Negris suggests all new entrepreneurs not to give up equity unless it is necessary.

As business gets big, it is necessary to protect the brand. Negris suggests all new entrepreneurs to get as much as domain as possible.

The Next Big Thing Foundation inspires many entrepreneurs to have mentorship early to ensure success. All panelists have mentors. Dubois believes mentors should have the same interest and it is important to not look for the title. Bolton’s mentors are their family members because they give Bolton a chance to watch and observe the company’s procedures. Cope believes mentors should be like big brother and big sister. Her mentor is her harsh school teacher because the teacher can help her see herself in the next future years. Negris has the CEO of Electronic Arts as her mentor. The mentor challenge Negris and hold accountable. Negris’ mentor helps her figure out the life balance.

Entrepreneurs can be lonely. It is important to seek people to challenge and inspire them. It is necessary to surround with success people with similar mindset.

All startup companies have gone through many challenges. Cope shares her challenge is to have the courage to quit her stable job and drive to unknown. Bolton is to determine whether or not to take the risk. Dubois is to determine the proper procedure to take his idea into action.

Entrepreneurs seek advices from different entrepreneurs. Negris’ advice for new entrepreneurs is to start lean and not overspend. Powell’s advice is to focus on how to valuate partnership with people, product, and then pay. Entrepreneurs need to know where they will be in the next future years understand their core values.

“Business integrates your life plan”

Entrepreneurs need to know if they are living to work or working to live. Dubois indicates 10% of happiness comes from social status and 90% comes from having something bigger. Entrepreneurs drive larger vision and understand the life behind the person who works with them. By providing creative work space is important for young people.

Many entrepreneurs are holding back due to lack of confidence. Entrepreneurs need to learn grit, the ability to rebound. Inspiration is important for entrepreneurs and it drives their motivation. Negris is inspired by the online security. Dubois, Bolton and Cope are inspired by the excitement.

Negris suggests new entrepreneurs to read the book “How to make friends and influence people”. Cope suggests “Paint a picture”, Bolton suggests “Why programing sucks”. Moreover, Dubois suggests “Emotional Intelligence”.

Aside from work, entrepreneurs need to find ways to manage their day. Powell recommends new entrepreneurs to be kind to themselves. Negris recommends not to check email in the morning. Cope recommends exercise daily. Bolton recommends to have plants. Moreover, Dubois recommends active exercise.

“It does not matter how old you are. All entrepreneurs go through the same thing”

How to generate more business form LinkedIn

This is a workshop hosted by Melonie Dodaro, the author of “the LinkedIn code”. Dodaro will share her research and techniques to help people improve their LinkedIn profile.

People are overwhelmed with social media. They have many alternative ways to involve, create, discuss, promote, and measure their business with social media. However, many people understate the power of LinkedIn because they do not know the business application in there.

LinkedIn has two types of profiles: makes friend, and makes money. LinkedIn is the only social media that has integrated business module. Based on stats, 2 new people join LinkedIn every second and the average household income is $109,000. People are more confident in the information they found on LinkedIn. Therefore, LinkedIn has 277% more effective for lead generation.

On Google search engine, LinkedIn profile comes on the top of the list. This makes LinkedIn to be the first online impression. People used to treat LinkedIn as resume, but to effectively use LinkedIn, people need different approach.

3 steps formula to LinkedIn success

Dodaro creates a formula for people to increase the success on their LinkedIn profiles.

Step 1: Get Found

Dodaro believes if people are not showing on the first page of the LinkedIn search, they are considered as invisible. People need to pick the right keywords in their profile. It is important to optimize the profile with the keywords that the ideal clients would look for. There are 4 places to optimize the keywords.

The first place is the headline. It is important to choose the keywords that are compelling. The second place is the current work experience field. People can have the keywords on the title and the description. The third place is the past work experience. This will make it more relevant and if people have consistent keywords on the current and past work experience, it will pick up by the LinkedIn algorithm. The fourth place is the summary section. Dodaro believes the optimize profile will improve the search result and increase the number of professional connection.

Step 2: Attract your ideal clients

Dodaro suggests people to write a client focused summary section. The summary section should avoid boring bio and write in first person. The summary section should identify the ideal clients. People can use the summary section to share how they can help them. All summary section should include a call to action on what clients should do at the end. The summary section should be about the target audience. Dodaro believes if people want to attract their ideal clients, it is important for the profile to speak about them. Therefore, people can highlight the bio only on the first two sentences in the summary section.

Step 3: Stand out

Dodaro suggests people to complete all components on their profiles. The more content people provide, the higher chance the LinkedIn algorithm will pull. People need to include a professional headshot. People want to deal with people, not logo. Dodaro also suggests people to include an introduction video to increase the audience interaction. Video can get the audience to feel the existence of users. It is important to add skills to the profile. The more skills people endorsed, the higher the LinkedIn ranking will be. Skills will increase the level of social proof.

Dodaro also recommends people to get recommendation. People will feel more confident and become potential clients when they see recommendations. This is another social proof in action. The review is important. People will buy because of other people’s reviews. Nevertheless, people will distinguish the services if positive is more than negative.

The power of social proof can lead people and people will know. Therefore, Dodaro believes people should always give first before receive.

Dodaro shares The LinkedIn Code abbreviation. People can relate to these abbreviations to build their LinkedIn profile.

L	Listen
I	Invest
N	Needs
K	Keywords
E	Enhance
D	Develop
I	Initiate
N	Nurture
C	Connect
O	Offline
D	Dedicate
E	Etiquette

“Do not collect connection, build relationship”

“Your network equals your net worth”