Entrepreneur Feature: Phoebe Fung

AWE was graced with the opportunity to speak with Phoebe Fung, owner of Calgary’s Vin Room - a wine and tapas bar with three locations, including one in the Calgary International Airport - and long standing client of Alberta Women Entrepreneurs.

Amidst all of this uncertainty, she is committed to remaining positive despite the challenges presented to the hospitality industry by the pandemic. 

“We have a lot going for us compared to many parts of the world. But I think the most important thing is that we've learned how to be flexible. Learned how to adapt. Who would've thought that in 48 hours, I would have turned my dine-in restaurant into a take-out delivery service, turned my managers into delivery drivers, and created a brand new menu and brand new website? It's just the new normal. The good that has come out of it is that we've really gotten closer and created deeper relationships and collaborations with our local providers.”

The adaptations she has implemented in her business include offering takeout and delivery from a “Date Night In” menu, alongside several grocery packages available, all delivered within an hour of ordering. At the click of a button, customers can order delicious meals that can be reheated and served for an elevated, gourmet dinner at their very own home, best accompanied by a bottle of wine from Vin Room.

“There's no doubt that you can never replace the customers, the revenue, that you had before. The new normal is, ‘How do we provide things that people want, at a price point people need?’ We’re creating little packages for people who are stuck at home that we can offer and deliver to them within an hour's time. We’re really becoming your local grocer and takeaway all in one.”

For Phoebe, like many entrepreneurs, there are silver linings in the face of this crisis.

“I'm really proud of our partnerships. Now I talk to our local suppliers more than I ever did, and we're coming up with things together that could be win-win that will help them support their businesses too. I do believe that we, as a community, will have to survive this as a community. It's not competition, but collaboration.”

However, she is realistic about the challenges that come with enduring this unprecedented event. With obstacles around every corner, managing the human aspect of the situation is key. Phoebe is trying to keep staff or those who are temporarily laid off, up to date on programs that are available to them, as well as checking in on them and their well-being. Additionally, she acknowledges the stress that comes with trying to manage cash flow in one’s business, while trying to adapt in what is a daily changing environment.

Nonetheless, Phoebe offers some words of encouragement to her fellow entrepreneurs to return to the same courage that led them to business ownership initially. Her four pieces of advice?

Remember why you got into it in the first place. - “I think that it's easy to be disheartened and to give up, and at the end of the day we've all gone through ups and downs, but you've got to remember why you started. Get back to your own passion on why you pursued entrepreneurship. Sooner or later, this all will pass, like the flood did, just like the recession did. Don't lose hope.”

Access your network. - “You'd be surprised how deep your network is, and how new relationships can happen when you are free to think outside of your comfort zone.” 

Don't be afraid to ask for help. - “Whether it be from your bank, your lenders, from the government, from your fellow peers, don't be afraid to ask for help.”

Finally, don't strive for perfection. - “It's okay to have ‘good enough’ in today's environment.”

As a business owner, she is taking particular efforts to support her staff and the Calgary community at large. Firstly, by keeping her managers employed while frequently updating them on the situation at hand. Secondly, at the onset of the pandemic, they began a promotional campaign where a dollar of each entree sold is donated to PALS Pet Therapy. Lastly, Vin Room has deliberately priced their offerings to be affordable with a quick response time, so that people can get what they need without waiting days for it. 

She challenges individuals to do what they can to support local businesses in their communities.

“Find local businesses to support. Find ten friends that you can recommend a local business to. Recommend that local business (one you've used in the past), and ask your ten friends to consider trying it. If they like it, challenge them to recommend it to ten of their friends. I think this is the best way to support fellow local entrepreneurs and really pay it forward.”

Not sure where to start? Check out our list of 2020 AWE Nominees that have adapted to new COVID-19 restrictions and are still open for business. We applaud all business owners, Phoebe included, who are taking significant steps to overcome the challenges brought about by the pandemic.

Entrepreneur Feature: Mary Coghlan-Tibbetts

Last week, AWE asked the 2020 AWE Awards nominees to share how the pandemic is changing the way they do business. We sat down (virtually) with Mary, owner of Funky Petals North Edmonton, to discuss how her business has adapted to continue operating in a world where “business as usual” is no longer an option.

Mary Coghlan-Tibbetts was at her local grocery store a few weeks ago when she saw something that didn’t sit well with her.

“There was a customer who was acting very rude to one of the ladies working behind the counter. I was like, ‘Seriously?’ These workers don’t get to just go home like everybody else.”

After going home and thinking about it, she quickly moved into action, sending flower arrangements to all the workers at the store.

“We did up 20 arrangements, as well as some single flowers. And then we went and gave them to everyone who works at the Sobeys by my house, just to say thank you for being awesome.”

Around the same time, Mary was making the difficult decision to close her business to the public. She had been contemplating it for about a week before deciding that closing was the best thing to do for her customers’ safety, as well as her own.

As of March 17th, Funky Petals has moved to contactless free delivery and curbside pickup. Getting the logistics in place was relatively easy given that they were already set up for delivery and online orders. The harder part? Making sure people know that although they are not physically open, they are still open for business.

“The first step was social media—lots of social media to get the word out and to let people know. I do videos on Facebook and Instagram. We have signs up all over the shop.”

The move to no-contact service also requires some extra communication.

“The process is very different. We always call people when we deliver to make sure they’re going to be home. Now we have to walk them through what we’re going to be doing. The driver will show up: he’ll ring your doorbell, put your order on your step, step six feet away to make sure you get the flowers, and once you receive the flowers, he’s going to leave.”

She also recommends finding ways to interact with your customers, even if it has to be virtually. For instance, two weeks ago, she offered a virtual class on how to make a personal terrarium.

“I don’t sleep a lot. I came up with this idea at midnight. I put the packages together with everything they would need, and we delivered it all out to the participants for free.”

Mary plans to do more of these virtual classes for people to learn about plants and flower arrangements.

“It’s just about interaction again. You’ve got to make sure that you’re interacting with people even if you can’t touch them, or hug them, or go out with them. As long as you still get to talk to people and see people, I just think it helps a little bit more.”

She also isn’t the only one in her industry looking to reach out to the community. When Funky Petals Fort Saskatchewan reached out to her to suggest donating flowers, she said yes immediately.

“We joined forces with Superior Floral and Funky Petals Fort Saskatchewan to donate flowers to the ladies staying at WIN House and Compassion House. They are already going through so much that the added stress of our new reality is overwhelming.”

Throughout it all, Mary is focused on staying positive and bringing joy to others. In a time of social distancing, flower delivery still has the ability to feel personal.  

“Here’s the thing – flowers aren’t necessarily an essential service. They’re not. But they do spread joy, and love, and cheer.”

To learn more about what other AWE Awards nominees are doing to adapt to the new restrictions click here.

Alberta Women Entrepreneurs’ Response to COVID-19

Alberta Women Entrepreneurs (AWE) has been closely following the global situation in regards to COVID-19 and the potential impacts in Alberta. The health and safety of our staff, our clients, and our community is our top priority. As such, we have made the difficult decision to postpone any scheduled in-person events, workshops, and meetings until further notice.

Additionally, AWE team members will not be attending any in-person events or meetings during this period. Any previously scheduled commitments will be conducted remotely where possible. Your AWE contact will email you directly to make alternate arrangements.

The situation around COVID-19 is changing rapidly, and the World Health Organization has announced that the outbreak is a pandemic. Most people with COVID-19 recover without needing special treatment but it can cause serious illness in some cases.

Health authorities have stated that the risk in Alberta is low at this time, however, we have decided to take precautions to safeguard the health and safety of our employees and the public. Social distancing can be an effective tool in preventing the spread of the virus.  

We are dedicated to continuing to support women entrepreneurs in Alberta and will proceed with delivering webinars and online programming, remote advising sessions, and answering inquiries via email and telephone.

If you are currently registered for any in-person AWE events, you will be receiving further communication regarding refunds. Thank you for your patience and understanding at this time.

Please email info@awebusiness.com if you have any questions or concerns. 

Marcela Mandevillle

CEO

Alberta Women Entrepreneurs (AWE)

The Importance of Storytelling in Marketing

Let’s be real. When was the last time you weren’t exposed to marketing communications in some shape or form? In the 21st century, advertising is everywhere: sprinkled through social media feeds, at the top of our google search results, and even in our bathroom stalls. There appears to be very few limitations when it comes to companies trying to reach us in any way possible, and we keep working harder and harder to block out the noise.

For entrepreneurs, the consistent bombardment of advertising has interesting implications. On one hand, as an individual you can likely concur that your attention towards and perception of advertising is not overly positive. On the other hand, you recognize that you, too, need to market your business in order to continue fueling your passion. The dilemma arises--how can you reach new and current customers, create conversations, and build relationships without contributing to the clutter?

Contemporary marketing also has to incorporate goals more extensive than simple brand awareness. It’s not enough for your target audience to merely know your name. To build long term relationships with your customers, an emotional connection is certainly a prerequisite. So--how can entrepreneurs a) gain the attention of their target audiences, and b) create an emotional connection? The answer lies in storytelling: a content marketing essential that is so much more than a buzzword.

What is it?

According to HubSpot, “storytelling is the process of using fact and narrative to communicate something to your audience.” It uses the basic elements of narratives that we learned back in high school (i.e. a beginning, a crisis, and a resolution) in order to communicate valuable information about a brand, a product, an idea, a person--basically any kind of offering that’s being put forth--and frames that offering as the protagonist of the story.

Google’s Year In Search campaign is a great example of storytelling--using cultural events and other familiar moments with Google as a central feature in order to communicate their inherent benefits, all the while inspiring viewers to continue searching for heroes in their own lives. Note that storytelling can be used through various media, video especially!

Why does it work?

Experts in psychology and marketing alike have outlined numerous reasons why storytelling is an effective form of communication! Here are just a few:

1. “Human memory is story-based.” - Roger Schank

   A story contains and presents cues for the audience that can trigger both awareness and emotional connection/understanding. When we hear stories, we connect and compare our own experiences with that of the narrative in order to better comprehend it. The more connections we have between the story and our own experiences, the more the story is retained in our memory, and the more we can relate the brand/offering to ourselves.
   

2. Stories build communities

   Hearing stories, we can access universal truths: familiar themes relevant to most audience members that are often underlying in classic literature, religious texts, old wives’ tales, and so on, that transcend cultural contexts. Tales of the hero, or of heartbreak, as examples, unite listeners/viewers and build community through its collective appeal, connecting the audience despite individual differences.
   

3. Stories give clarity

   Stories are useful to solidify abstract concepts, such as the inherent benefits of an offering, and  they effectively communicate the intangible factors that a brand might bring to the table. Consumers aren’t only seeking functional benefits such extensive tech specs or specific services. They have underlying needs, such as self-expression or belonging, that your offering can also fulfill. Outlining those inherent benefits through storytelling communicates them clearly--without sounding like a sales pitch.
   

4. Stories work as treasure maps

   Why do people consume anything at all? To move from a state of need to one of satisfaction. Stories map out the path to a better state, outlining how customers might achieve their goals with the help of an offering, which acts as an inspiring and motivational point of reference for customers on their journey.
   

5. Stories are told and retold

   What is by far the best and most trustworthy form of marketing? Word of mouth. As customers ourselves, we tell our own stories to our friends and loved ones about our experiences (positive and negative) with brands. Not only that, but we also share stories of all varieties to engage with pop-culture. Therefore, as stories revolve around conversations, they can be very effective in spreading the word. 

How do I tell a good story?

Storytelling takes practice--multiple drafts, revisions, creative stamina, etc., but it’s important to remember that it is a skill to be learned, you don’t have to be born with it!

First, consider your target audience. This can be a smaller subsection of your overall target market, like non-users, or brand loyals, for example. Ask yourself who will benefit the most from the story you’re telling, who will it resonate with, and who will be most likely to respond? Defined target audiences are absolutely essential in any marketing activities--so be sure to nail this!

Also, all marketing campaigns should have an underlying goal. With this story, are you working to build community, educate your audience, motivate them to act, convey your brand values, or something else?

Next, good stories often follow a formula of a status quo that’s interrupted by some form of an inciting incident: something that occurs to shake things up in the protagonist’s world. This could be applicable in your brand story itself--what happened in your life that encouraged you to pursue entrepreneurship, or enter the industry that your business is in? Or, it might involve status quo in the sense of the gap your offering exists to fill, and the inciting action that urged you to fill that gap.

Your story might then outline all the conflicts you underwent in pursuing entrepreneurship, or it might refer to the pain points common in other offerings. The quest to resolution is never smooth in real life, nor should it be in your story. Though conflict evokes feelings of strain and struggle, that’s what keeps things interesting, exciting, and real.

Finally, the resolution of your story should involve the protagonist (i.e. you, as an entrepreneur, your offering, or even the customer) chasing action, or continued action in the face of conflict, in order to achieve a desire or restore balance, thereby creating a new status quo.

Remember the key elements of storytelling that make the process worthwhile! The best stories must be entertaining, educational, universal, organized, and memorable. At the end of the day, if your story isn’t interesting to you, it certainly won’t be for your target audience. Keep practicing, incorporating storytelling into your marketing efforts big and small, and keep writing your company’s story as you go--through growth, the ups and downs of business ownership, and the community you’ve established, you are the protagonist of your very own story.

Learn more about digital storytelling and content marketing through AWE’s program, Digitally Solid. Registration for the Spring 2020 cohort is open now!

Support is Key

Last year, I had a favourite mug (sadly broken in a dishwasher incident) that said “Fill Your Cup”, which inspired gratitude for two reasons. It held my beloved morning coffee and it reminded me to stay connected with what, and more importantly who, brings me energy and joy.

Starting a new year offers a valuable opportunity to evaluate how the influences in our lives (ourselves included) may have helped or hindered us. What filled my cup and what emptied it? When we set our intentions and goals, how do we understand who we need around us in each area of our lives to help us thrive? Sometimes, we need to look outside of our usual circles and familiar connections to gain new energy and broader perspectives.

Exploring new connections, resources and markets to reach growth goals is an excellent way to expand knowledge, build ideas and move forward. It is a key reason we continue to offer programs and services like PeerSpark, in which entrepreneurs who are experiencing similar growth opportunities and challenges can explore growth with the support of a peer group, personalized advice and learning to make informed decisions.

As the world changes quickly around us, AWE continues to evolve to support and recognize women-owned businesses in Alberta. We could not do this without an incredible support system including our Board, funders, sponsors, community partners and champions, family and friends. Working together, we will do our best to build more pathways to success and better connections for entrepreneurs.

Looking forward, who will “fill your cup”, energize your ideas, support you through difficult times, celebrate your successes and help you to achieve your goals? If AWE is not yet on your support team, I hope we can connect to help you reach your dreams.

Always with gratitude,

Marcela

We're hiring a Program Assistant!

Are you interested in joining a dynamic team passionate about helping growing businesses that are shaping Alberta? Alberta Women Entrepreneurs (AWE), an organization dedicated to enabling women to build successful businesses, is searching for a part-time Program Assistant to join our team.  AWE provides programs and services to women in business through mentoring, advising, financing, and skills and network development.

New Year, New Ambitions: Setting Your Business up for Success in 2020

For entrepreneurs, 2020 might feel like a vast realm of opportunities and uncertainties, which is nothing short of daunting. The new year is simultaneously terrifying and filled with excitement. There might be thousands of ideas circulating in your mind, and formulating that into an action plan to materialize those ideas is no small feat. Our first piece of advice? Just start. You’ll gain more traction as you go. Where do you start? Read on!

The Year in Review

To begin, ask yourself three simple questions about your past year of business:

• What worked well?

• What was just okay?

• What didn’t work?

The answers can be regarding anything relevant to your business, from operational processes to marketing campaigns to team bonding events. If something went well, what contributed to that? Next, what activities worked okay, but could be improved upon? For example, processes that are satisfactory, but have room for continued development that could make your customer experience even better or synergize your operations. Finally, what simply did not work for your business? Maybe you struggled with consistent posting on social media, or maybe there were quality issues with your supplier. Outline it all - the hits, misses, and everything in between to get a bigger picture of how your business performed in 2019.

Your Numbers

Business growth is equally evaluated by qualitative measures and quantitative key performance indicators, such as financial, marketing, and operational metrics that will differ depending on your industry. These measures will further demonstrate the objectives you met or exceeded within the past year. This might not correspond with your business’ year end, but it’s always a good idea to take a closer look at your numbers in order to effectively plan for the future. If your idea of KPIs is a little bit fuzzy, our friends over at Business Link have a great blog to help you sharpen those definitions!

Creating Your 2020 Vision 

Looking forward to the new year, while keeping the past year’s performance in mind, start with an expansive, judgement-free brainstorm. Give yourself the freedom to think of everything you want the new year to encompass, including future projects, current projects carried forward, processes to refine, skills you wish to hone, financial goals - anything and everything you envision in 2020. Don’t worry about mapping anything out initially, just compile your ideas to get a more concrete sense of the year ahead. Next, maybe after a quick snack break with some holiday goodies, begin organizing a plan based on your brainstorm session. Start with the bigger projects you wish to tackle, then create a list of tasks associated with each one, as well as a rough timeline that you’ll work with. Breaking up projects into smaller tasks will make them feel more attainable. Of course, nothing is set in stone and things will definitely adapt from how you first pictured them. That’s okay! Right now, your mission is to set out your priorities and break them into manageable tasks, starting 2020 on the right foot.

Setting Intentions

For some, the strategy of 2020 might already be set in stone, or maybe you’re dedicating your holiday season to friends and family and taking a break from the stresses of business ownership. In that case, here is a list of more general resolutions to inspire your new year:

1. Finally write a business plan

2. Attend more networking events

3. Improve your digital presence

4. Understand your numbers

5. Uplift other women entrepreneurs

6. Join a peer group

7. Expand beyond borders

8. Give back to your community

9. Grow your team

10. Make your own needs a priority

Maybe 2019 was your best year yet. Maybe it was lined with pitfalls and you’re celebrating its conclusion. Or maybe January is just another month for you. Regardless, business ownership is filled with new beginnings that you can utilize to propel you forward. Take some time to contemplate your business ambitions and make them actionable. Our mission is to enable your success as a business owner, connecting your present situation to a future vision. 

Celebrating Women Entrepreneurs

By Marcela Mandeville, CEO

The Women’s Entrepreneurship Day Summit on November 14th was the first of its kind in Canada. As the Edmonton Ambassador for Women’s Entrepreneurship Day, I had an incredible experience of participating in the summit’s celebration of women entrepreneurs in Alberta and listening to thought-provoking discussions.

Women’s Entrepreneurship Day is a global movement, and the Summit held in Calgary brought together many members from our entrepreneurship ecosystem, including women entrepreneurs, service providers, and dedicated volunteers. As a community we had the chance to foster deeper connections all while championing women’s entrepreneurship.

The Summit welcomed leaders from a multitude of backgrounds sharing their insights on topics ranging from how to build a personal brand to the importance of diversity and inclusion in entrepreneurship. We heard from inspiring speakers like Kelly Falardeau and Rachel Mielke, who both shared their personal journeys. Listening to them share their stories, I was reminded of the power of vulnerability and resilience, as well as the importance of having a strong support system.

Another highlight was the Honourable Leela Aheer, Alberta’s Minister of Culture, Multiculturalism and Status of Women, proclaiming November 19th as Women’s Entrepreneurship Day in Alberta. There are many women entrepreneurs in this province who are fueling growth in the Albertan economy, and it was great to see Women’s Entrepreneurship Day officially recognized.

There is tremendous momentum right now for women who are starting or growing businesses in Alberta. It’s essential that there is access to the knowledge, skills, and capital needed to be successful on that journey. Here at Alberta Women Entrepreneurs, we provide support to women at all stages of business through advising and various programs to build skills and connections. Our loans can also provide the capital you need to start or grow your business, and we have a community to support you along the way.

Entrepreneurship is complex, exciting, and challenging and you don’t have to do it alone. The community here in Alberta is one of a kind – there is so much expertise and guidance to help you as you build your business. Events like the Women’s Entrepreneurship Day Summit and many others give you the opportunity to not only meet like-minded individuals, but also provide the space to connect with resources to help you succeed.

We are excited to build off the amazing momentum from the Summit, and to continue to support women entrepreneurs in our work every day.

Always with gratitude,

Marcela Mandeville

How to conduct a competitor analysis

Who is your competition?

This is a fundamental question you must ask yourself before you dive into creating a business. Without knowing who your competitors are and what the market is for your product and service, you won’t have all the information you need to make informed business decisions. Additionally, when you are looking to get financing, some lending institutions will ask you for a business plan. A thorough competitor analysis is indicative of a well-thought out business plan and can demonstrate a good understanding of the market. So, what exactly is a competitor analysis and how should you go about conducting one?

As defined by www.entrepreneur.com, a competitive analysis is “identifying your competitors and evaluating their strategies to determine their strengths and weaknesses relative to those of your own product service”. In layman’s terms, it’s looking at other companies in the market that offer something similar to that of your business. There are two broad categories for competitors that are typically considered: indirect and direct competitors. Your indirect competition is those businesses that satisfy similar needs to yours but with a different market offering. For example, if you are trying to satisfy people’s need for sugar and you are an ice cream parlour, your indirect competition could be a cupcake store. On the other hand, direct competition would be another ice cream parlour as it is offering the same type of good that you are.

What’s the best way to go about doing a competitor analysis? There are a number of different models and methods that you can use, but a common one is Porter’s Five Forces. This method was introduced by Michael Porter back in 1980 and helps new businesses examine their industry and look at the various forces that affect a company’s profitability, market position and power. The five forces are as follows:

1. Competition in the industry: This involves the number of competitors in the industry and their ability to undercut your business.

2. Potential of new entrants into the industry: This identifies whether your industry has conditions conducive to greater free entry into the market. If it’s easy to enter the industry, your market position could be weakened and hence, you would not be able to raise prices easily.  

3. Power of suppliers: This force examines how unique inputs are and how easily suppliers are able to drive up costs. If the inputs can only be purchased from one supplier, the supplier is easily able to raise prices and businesses have no choice but to pay the premium.

4. Power of customers: This force looks at how customers can drive prices down and how loyal they are. If the customer base is small and powerful, they have the ability to negotiate deals to get lower prices.

5. Threat of substitute products: This force looks at how many substitutes exist that could be used in place of the one offered by a business. Having lots of substitutes means that businesses cannot raise prices and expect to get the same sales as customers will simply switch to a cheaper alternative.

Every single business has some form of competition, regardless of the sector or type of business. As much as it might seem like a good idea to say you have no competitors to seem unique, it is very unlikely that this is actually the case. Even if you have a revolutionary idea that no one else is doing, you probably have indirect competition. For example, Uber was a novel idea when it was introduced, however, it still had indirect competitors such as taxis and public transportation. As an entrepreneur, the more you plan out before launching your business and the more you understand the market you’re stepping into, the better prepared you will be for unexpected circumstances and failures. It is completely normal and even better to acknowledge your competition so that lenders know that you aware of those around you doing similar things. Just because you have competition does not mean that you won’t be successful – it just means that you will need to introduce a unique experience or something different than your competition to set yourself apart.

Client Feature: Adrienne Paul

Adrienne Paul has been involved in the oil and gas industry her entire life. In 2017, a new relationship brought her to Grande Prairie, and with a Ford half-tonne truck and a savings account she co-founded Mackenzie Petroleum Technologies.

Dave Brosha Photography

When asked about the most rewarding components of entrepreneurship, Adrienne says that creating jobs and treating employees right are major aspects she enjoys.

“In just over two years, we have employed 33 people full time. As an employer, I am grateful for how people are treated, and I ensure my staff are taken care of. It’s important to get the team behind you that you need, not just the ones that are looking for a job.”

Staying true to herself while expanding her horizons is something Adrienne is passionate about.

“Being born and raised in a very small town, I had to drive to see what the world had to offer, and I had to explore. While I was exploring, I got to see how Aboriginal families in other provinces live. Some of the stories I heard and situations I saw made me want to be a leader for Aboriginal people, especially Aboriginal women. I wanted to show that no matter where we come from we can do whatever we want if we work hard and follow what makes us happy.”

While being in business has its rewards, it also has its challenges—especially when it comes to being a woman in a male-dominated industry.

“There have been times when I go into meetings and people assume that my husband is the owner and I’m his back-up. I’ve made it my mission to continue to prove them wrong.”

In entrepreneurship, it is important to surround yourself with the right people. In 2018, Adrienne enrolled in AWE’s PeerSpark program to build her network and get hands-on support to grow her business.

“I really enjoyed the PeerSpark program. The networking and the group I was part of have been so helpful. Even now that our session has officially ended, my peer group and I still turn to each other for support and advice. We email each other all the time.”

Adrienne’s entrepreneurial spirit shows no signs of slowing down anytime soon. When asked what is next, she says starting another business is definitely in her future.

For now, Adrienne is continuing to grow Mackenzie Petroleum Technologies and continuing to fuel growth in Alberta’s economy.