Managing Your Mental Health and Burnout as a Business Owner 

As a business owner it can be challenging to make sure you are prioritizing your mental health when you have so many other things to manage and get done. However, prioritizing your health and wellness should be near the top of your list! When you’re not functioning at your best, you and your business could suffer. 

Here are a few tips to help manage your mental health and avoid burnout as a business owner. 

Create Work-Life Boundaries 

Creating separation between your work life and your personal life is crucial, especially if you’ve transitioned to working from home during the past few months. How do you create work-life balance? With strong boundaries and routines. 

Creating boundaries can look like setting up a designated work space within your home, only working between certain hours of the day, not replying to emails or client-related tasks on the weekends, and much more. These may vary depending on the type of business you own, so adjust accordingly but be sure to set some boundaries for yourself. 

Get Outside 

With the transition to working from home, many people have been spending more and more time inside than ever before. It’s important to get outside and breathe in some fresh air at least once a day. 

Whether you do this by walking your dog, playing outside with your child or getting some self-care time in and going for a walk or run by yourself, it is important to schedule some time outside. Few things are as refreshing for our minds as a deep breath of fresh air. 

Move Your Body 

Another important thing to schedule into your routine on a regular basis to support your mental (and physical) health is moving your body. Most of us know that it is recommended to get at least 30 minutes of moderate physical activity daily, however, this is often the last thing we check off on our to-do list if we check it off at all. 

It is important to make the time to move your body in whatever way feels good and comfortable for you. For some, this might be 30-60 minutes at the gym lifting weights, doing a yoga class, or going to a spin class. Others might check off two things on their mental health checklist by going for a nice long walk. No matter how you do it, moving your body is proven to dramatically improve your mental health and reset you for whatever you might need to tackle next. 

Unplug Daily 

Being a business owner often means spending a large amount of time on devices every day. Zoom calls, sending emails, creating content, website edits, the list goes on. These things are important and need to be done in order to keep your business running, so it’s crucial that you make time in your daily routine to unplug from your devices. 

Allowing (or forcing) yourself to have device free time is important! This should be a part of your work-life balance boundaries to ensure you’re truly unplugging from your work related tasks and mindset for a little while. 

An easy way to unplug is to have a morning and/or evening routine that is device free. Starting or ending your day by reading a book, moving your body, or indulging in some self-care is a great way to unplug. It may require a conscious effort at first, but eventually will become a routine that you can’t break. Don't be hard on yourself! It can take time to get into these habits, but you’ll see an instant shift in your mental health. 

Connect with Your Support System

Connecting with the people that support you is a great way to take care of your mental health. While these may be your confidants for all things business, try to not spend your whole conversation talking about business related things. 

Spend time talking about non-work related topics such as your friends and family, hobbies, plans for the weekend or an upcoming vacation. While it’s great to be able to connect with them in regards to business related matters, it’s also important to build the relationship based on more personal details as well. Shifting your mindset and conversations away from business is not only beneficial to your mental health but also the mental health of your support system!

To learn more, register for our webinar on how to protect your mental health for business decision making.

Disruptive Business Models: New Opportunities for Your Business

Written by Lori Schmidt, AWE Bold Leadership Program Lead.

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The quote “Disrupt or be disrupted” has been said a lot over the past year. Everybody is constantly looking for an opportunity or niche to disrupt industries with new innovative business models, so it’s no wonder that there is a lot of talking going on in this field. But first, it’s important to note that there are usually never completely new business models involved. Existing business models are simply used for a new industry, a new product, or a new service.

As an example, one can see how certain industries have already had to deal with a disruptive business model. The classic taxi service was put under a lot of pressure by Uber, as they had a platform that connected the drivers and guests via the Internet, instead of dialing a new number in each city or looking for taxis.

Successful disruptive business models focus on the customer again. New technologies have changed customer behavior and this change also enables models that meet these needs. Many successful companies combine these business models and use different models for different parts of their companies. The right combination of innovative products and innovative business models can play a major role in your success as a business.

Here are eight business models that can be disruptive for industries. This list of is not exhaustive, but they are eight important business models that have been responsible for important innovations in many markets.

As you read through them think about how these technologies can disrupt or provide opportunities for your business.

8 Disruptive Business Models

1. Freemium Model

This is one of the most frequently used business models. The consumer receives a product or service free of charge and only basic functions are offered. For premium functions, the customer must then pay. This way you can quickly reach a broad customer base, scale your business into new markets and generate income when converting customers into paying ones.

This model is especially applicable for products or services that have low marginal costs (additional costs per additional customer) or where marketing and customer information have a higher value than the operating costs. The key for such models is also the conversion. You need to find a free solution that is attractive for a customer but also not perfectly satisfying so they are willing to pay for the premium.

Typical examples: Spotify, LinkedIn, Canva, MailChimp

2. Subscription Model

Products and services can usually also be offered as subscriptions. An amount that would normally only be paid once is now split or a new service is created that is billed periodically. The aim is to bind the customer in the long term. In contrast to the one-time purchase, the customer benefits from improvements and extensions of the service.

Non-divisible products can also be converted into a subscription here. Amazon has already provided an example with this system of how products such as detergents, cosmetics, etc. can also be delivered automatically on a regular basis. Subscriptions are very powerful as they allow you to generate income over time and grow your company without too many highs and lows.

Typical examples: Amazon, Netflix, Internet Providers

3. Free offerings

This is a model that has gained in popularity especially through Google. For many entrepreneurs, this is also the most incomprehensible business model, but it has great potential for some services. Since such business models usually evaluate customer data for advertising or personalized offers, they have access to lot of information about customers which is an important commodity in these times.

When you are considering an only free service, you also need to plan for a long ramp-up phase. This means you are investing for a long period of time before you reach the critical mass of users to have a profitable business.

Typical examples: Google, Facebook

4. Marketplace Model

For some industries, marketplaces already had or have great disruptive potential. The business model used here is usually a digital marketplace which connects seller and buyer on a common platform. Money is usually generated via brokerage fees, commissions, or fixed transaction costs. However, it is also possible to use membership fees on the platform or to generate money through advertising/premium positioning services.

Typical examples: Amazon, Alibaba, eBay, Shopify

5. Sharing Economy (or Access-over-Ownership Model or Renting & Leasing)

In the classic sense, the sharing economy is referred to as lending. Goods or services that can usually only be purchased are made available to another person for a limited period. In the example of car sharing, the car owned by the company is made available for a certain period of time and the customer is charged mileage along with other fees. In general, this model can be applied to all products, from private individuals or companies, real estate, or intangible assets.

Typical examples: AirBnB, RVShare, Coworking Spaces

6. User Experience Premium

This is a premium model that can be easily observed using Apple. A good customer experience adds value to an exchangeable product. Service, the brand and especially the experience of the customer are greatly improved so premium prices can be charged.

Typical examples: Tesla, Apple

7. Ecosystem – Create your own ecosystem

To bind customers to an ecosystem in the long term through a “lock-in” process in a service is a dream for every entrepreneur. For example, if you have a mobile phone from Apple or Android, you are probably included in this ecosystem. You buy hardware and use software that may only be compatible in the same system. This makes the change difficult and prevents new competition from gaining a foothold.

Typical examples: Apple, Google Suite

8. On-Demand Model

Time is money, that is the structure of this business model. Immediate access is the selling point of this model, the delivery, the product, or the service can be called up at a certain point in time. Video-on-demand, taxi-on-demand and many other systems are a good example. Companies with goods or time provide their services to customers who are willing to pay premium for it.

Typical examples: Amazon Prime, Uber, Upwork, Cloud Services

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AWE’s Bold Leadership program is designed to help women entrepreneurs create the digital strategy they need to keep their businesses relevant and profitable. Applications for the February 2021 cohort are now open. Learn more about how the program can kickstart your transformation journey.

Client Feature: Aye Myae

Finding the cultural delicacies of her home country, Myanmar, was proving difficult to Aye Myae who had moved to Canada to pursue her studies. Not only could she not find these foods readily available in local supermarkets, but she also realized not many people know much about her country or its cuisine.

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She had an idea to promote her cultures' national foods to the rest of the world so she created Moe Myanmar Foods. “This was the primary idea, introducing our culture to the world. What our foods are, how we eat them, when we eat them…” says Aye.

Previously, Aye was depending on friends and family back home to send over boxes of a traditional fish soup known as Moh Hin Gar to her. This is a traditional fish soup that the people of Myanmar eat every day, at breakfast, lunch and dinner. It’s also very common at special events and is widely available throughout the cities, so much so that Aye didn’t know how to cook it at home. By the time it arrived from Myanmar she didn't trust the quality of the product and sometimes it had already expired.

This is what inspired Aye to start creating Moh Hin Gar on her own. She first started by cooking it herself for her family and then gradually started offering it to others. According to Aye, “It takes about 2-3 hours to achieve the perfect taste and smells.”

Whenever they were hosting parties or events at home, they would cook Moh Hin Gar for their friends and family. Over time, friends started asking if she could create a paste so that they could cook and eat it anytime they wanted. This reaffirmed her observations that there was a lack of Myanmar food in the market and that it was very difficult to find the freshness and quality of the foods for those who want to feel at home while away from home. It would also appeal to those who want to explore Asian flavours or have travelled and spent time searching for it in North America.

The leap of becoming an entrepreneur and bringing traditional Myanmar foods to Canada was a big one for Aye. Previously she worked for the government back home as well as here, and was uncertain how to move forward with her goals. She knew she was destined to do more, and wanted to spend some time figuring herself out. Then she went to AWE and found a session: “Are you ready for entrepreneurship?”

“I didn’t know myself to be an entrepreneur, but since a young age I’ve been interested in businesses. Always interested in how they work behind the scenes, how they’re building the business, how the financials work, how they get to this stage.” Aye’s background in agriculture which led to her becoming an agricultural economist has been a huge help on her journey, as a result she is very familiar with the agri-food systems. She became more and more interested in how businesses ran and studied consumer behaviour here, where she gained more insight from both the industry side and the government side into the regulations and policies such as food safety and traceability. Aye was now specialized in consumer behaviour and food safety protocols, but had no clue how these businesses operated.

“My desire to showcase our foods to the western world combined with my knowledge of these areas is what ultimately started the business.” Aye admits that it was a big jump and that entrepreneurship is completely different from academia, which she was most familiar with. Entrepreneurship includes everything and she loves it. “Making mistakes and then figuring out how to stop some of them quickly, how to handle them and how to move them around. You have to think on your own feet and take advantage of all resources available to you.”

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One of the most significant resources Aye has taken advantage of is AWE. She saw her products as a need in the market and was able to start in her basement. Aye quickly had to evolve her business plan and received lots of help and support from AWE on how to write the business plan. “It’s very different than writing a thesis!” Writing the business plan brought to light where she wanted to go and grow with her business.

“They provided me with my first loan to start my business. This allowed me to set up my commercial kitchen in my basement.”

She is also in the midst of developing a new product in the Food Processing Development Centre in Leduc, AB. The trial run began in October for the ready-eat Chicken Coconut Noodles (well-known in Burmese as Ohn no khao swe). Without AWE’s help and the help of the Food Processing Development Centre to overcome the difficulties of the regulations, Aye says she wouldn’t be able to get her products into the market. Aye has also received a grant from CAP, the Canada Agriculture Partnership. This is a product to market grant that will help her get more products into the market.

“Before receiving support from AWE I was using personal lines of credit as well as financial support from friends and family.”

Aye says that one of the most important things she has learned as an entrepreneur is to utilize all of the resources available to you.

“AWE has an awesome advising program. When I reach out they share their experiences with me which makes me feel much better and less alone. I can schedule time with advisors when I need it. There’s so much support! Both emotionally and with everything along the way.”

In terms of emotional and mental support, her husband is her greatest supporter. There are a lot of ups and downs in the life of an entrepreneur, and he is able to help Aye navigate the challenging times. She is thankful that her husband is able to support their family with his full-time job, and doesn’t hesitate to put him to work helping her once he gets home.

Aye’s mission is to put her country and their delicacies on the global radar, and encourage the people of Myanmar to take the leap into entrepreneurship as well.

“I'm not doing this only as a business but as a project. I would like to showcase our foods to the Western World and European countries and have them associate them with our country, similar to how Kimchi is to Korea and Sushi is to Japan. I’d like to promote this, so by raising the food safety bar and introducing our food to other cultures it’s helpful for those who are hoping to become entrepreneurs in this space and allows those who are already in the business back home to raise their quality standards and be able to reach global consumers.”

Aye would love for everyone to try their products. If you’re someone who has been to Myanmar and tried their delicacies, she would also encourage you to provide feedback on what foods you’d like to see brought over here. “We’re very familiar with our foods so maybe there are some we haven't thought about bringing over.”

Their products are available on amazon.ca and in local shops in Alberta. To learn more about Aye and Moe Myanmar Foods visit their website.

A Message from Marcela Mandeville, CEO

Over the past year, AWE has had the pleasure of being a part of the 2020 WEDO Alberta Conference planning committee to celebrate Women’s Entrepreneurship Day, a global movement. Alberta’s two-day event took place on November 19-20, bringing together women entrepreneurs and supporters from across the province. As Edmonton’s WEDO Ambassador, it was an honour to be a part of such an important initiative.

The conference served as a much-needed platform to have very meaningful conversations on issues brought to the forefront by the pandemic. It was exciting to gain insights on the future of Alberta’s economy from experts and panelists such as Lara Murphy, one of AWE’s 2020 Celebration of Achievement Award recipients. Learning from trailblazing women entrepreneurs as they share their stories and unique perspectives is always inspiring and energizing.

The panel on “Technology’s Role in Driving Post-Pandemic Business Transformation” highlighted the importance of prioritizing digital transformation. The pandemic has reshaped how businesses are operated, and it's essential that women entrepreneurs are equipped with the tools they need to succeed in the digital world. For that very reason, AWE recently launched Bold Leadership, a program that helps women entrepreneurs learn leadership insights, build digital transformation strategies, and gain skills and knowledge to increase their digital competence. Digital business is here to stay, and AWE is dedicated to helping women entrepreneurs thrive in this new era.

2020 has been challenging in many ways. As I reflect on the past year, I have realized that despite all the uncertainty, I have been very fortunate to gain an increased appreciation for community. The entrepreneurial spirit here in Alberta is truly one of a kind. We have been inspired by the tremendous resiliency and innovation of our province’s entrepreneurs and the commitment and support shown by our partners as we navigate uncertainty together. As we head into the new year, I hope we will build on this momentum and continue to work together toward an equitable future for women entrepreneurs.

Although this holiday season looks a bit different for all of us, I hope we can take the time to reflect and recharge. On behalf of our AWE team, I wish you a safe and happy holiday season. Thank you for being a part of our community.

Always with gratitude,

Marcela

Financing Entrepreneurial Dreams

Evelyn Ackah

Evelyn Ackah started her firm, Ackah Business Immigration Law in 2010 with the aim of helping others live their dream of starting a new life in a new country. Her experience with the immigration process started when she was young; Evelyn came to Canada as an immigrant herself, moving from Ghana when she was five.

As a small business owner, Evelyn found it difficult to obtain the funds she needed to get started: “Then I heard about AWE, and within weeks, they had approved my application. It was great to have been approved and recognized for what I had created and was doing.”

For women entrepreneurs, access to capital can be one of the largest obstacles to starting or growing their businesses. AWE offers repayable loans of up to $150,000 to women-owned, Alberta-based businesses to help them achieve their goals.

Phoebe Fung also found herself experiencing challenges when she was seeking financing to open Vin Room, a wine bar and restaurant in Calgary. “As a first-time entrepreneur in 2008, I had trouble getting business loans, as I didn’t have experience in the food and hospitality industry. AWE allowed me access to low-cost capital that I would not have had access to.”

Phoebe now has three Vin Room locations across Calgary and over 60 employees. With each location, she reached out to AWE for the capital she needed to make her growth plans a reality.

Evelyn’s now in the process of expanding her business, with the creation of an online immigration platform to help people to complete their immigration applications on a DIY basis. She wanted to offer something to those who were risking their time and money, trying to navigate the immigration system on their own.

With the new immigration portal launching soon, Ackah Law will now be able to provide an affordable and accessible service to those in need of advice and assistance.

“That loan helped because it allowed us to grow our business, to employ more people, and to invest in more technology. We had our best year last year.”

Many of AWE’s loan clients also tap into the personalized advice and resources available to them. Not only can AWE help provide access to capital for women entrepreneurs, but also access to ongoing business advising, and connect with a community of like-minded women.

For Phoebe, that continued support makes all the difference. “AWE is more than just a source of funding for female entrepreneurs.  They provide a support framework, courses for continual learning and a network to access for female entrepreneurs.”

How Digital Transformation Drives Value for Your Business

Written by Lori Schmidt, AWE Bold Leadership Program Lead.

With the pandemic, business owners around the world were pushed into adapting their businesses for the digital world as a means of survival. Building and implementing a digital strategy for your business is often seen as just updating technology and processes, but it is much more than that. It is about driving value for your business, your customers, and your bottom line. When done right, a comprehensive digital strategy can drive value for your business in the following ways:

1. Creating new sources of revenue

Digital ecosystems drive new revenue streams by looking at how organizations can track and analyze data flowing through the business and use it to create new products and services, as well as improve customer interactions and their access to your company’s offerings. These improvements can include enhancing delivery times, building price matching programs, advising customers instead of selling to them through consultations on how to use your products, and using data to create customer profiles to provide customized recommendations and assistance (like a personal shopper).

2. Lowering operational costs

Companies that have embraced digital transformation are finding measurable cost savings through improved business processes. Besides increasing workflow efficiency, end-to-end integration improves your working relationships with customers and partners and reduces operational costs due to automated data processes. It also makes it easier for your employees as they will now be supported by systems that help them be more efficient in their work functions.

3. Increasing the speed of technology adoption and potential for success

Building the right digital strategy for your business allows you to fully utilize and adopt new technology in ways that will help you grow your business. You will be able to achieve that by first evaluating the systems and data you already have in place, and then identifying the opportunities available to serve your customers more effectively and with more value. When done correctly, you will have implemented a strategy that works for your business the first time, rather than simply jumping into the latest technology on the market which may not give you the results you had hoped and may cause delays in your timeline.

When thinking about ways to drive value for your business, it is very important to start looking at it in terms of a digital strategy. It is just like any other business strategy you have built in the past, but you will instead be looking at it through a digital lens. Here are a few key things to keep in mind:

  • What are your business and financial goals? Make sure you are looking at them in terms of how you are creating business value.

  • Understand your customers. You should be able to define your value proposition and be able to map out your customer journey.

  • Look at your internal processes and see how you might add value to your customers and meet your financial objectives. Build in measures to constantly look for areas of improvement and innovation.

  • Ensure that you are setting up your people for success. Build digital champions within your business and foster a digital culture of continuous learning. Attract and retain people that are going to help you continue to build into the future and achieve your goals.

AWE’s newly launched Bold Leadership program is designed to help women entrepreneurs create the digital strategy they need to keep their businesses relevant and profitable. Applications for the January 2021 cohort are now open. Learn more about how the program can kickstart your transformation journey.

Happy International Women's Entrepreneurship Day!

November 19th marks Women’s Entrepreneurship Day, a global movement to not only celebrate and empower women entrepreneurs, but also highlight their journey of overcoming systematic challenges. Women entrepreneurs are actively fueling our economy with women-owned businesses in Canada contributing $150 billion to the economy and employing over 1.5 million people.

Women’s entrepreneurship in Alberta is especially exciting with great strides being made to close the gender gap. We are seeing women starting businesses at much higher rates than ever before, and in Alberta there are 84 female entrepreneurs for every 100 male entrepreneurs, compared to the national rate of 63 women for every 100 men.

In celebration of International Women’s Entrepreneurship Day, AWE is thrilled to share that the nominations for the 2021 AWE Awards are now open. The AWE Awards were created to showcase the trailblazers of our community and to celebrate the achievements of inspiring women entrepreneurs.

Entrepreneurship can be a very personal journey. We asked women from across the province what they loved most about being entrepreneurs and here is what some of them had to say:

I love getting to solve a real need in the marketplace while doing something that I’m incredibly passionate about.
— Emily Johnson, StrongerU Senior Fitness
They say that a ship is safest in the harbour, but that’s not what ships are built for. I am a ship and entrepreneurship is the open water and I am doing what I was made to do.
— Shannon Vander Meulen, East Calgary Registry
Being able to create something that the community loves and in return I can support the community.
— Wing Chan, Nomiya
I love the creative control that I have over my work and the flexibility that being an entrepreneur affords me.
— Amanda Hamilton, Amanda Hamilton Interior Designs
I was made for this. I had no idea what I was going to be when I grew up and I have loved this journey, it has been so rewarding.
— Michele Bethune, T&J Cleaning Solutions
They say that it is only through relationships that we discover liberation from self. Your relationship with your business will change you profoundly. You will be challenged beyond limits, you will experience intense joys and you will have struggles.
— Ann Zee, Holistic Institute of Health & Fertility

The pandemic has disproportionately impacted women entrepreneurs around the world. Despite the challenges, it’s been incredible to watch women entrepreneurs in Alberta show resiliency and leadership over the past eight months. We have observed how quickly they have had to pivot their operations, and we have been inspired by the innovation that has come out of these trying times.

At AWE, our hope is to one day achieve gender parity when it comes to entrepreneurship. We believe the future for women entrepreneurs is a bright one, and we are excited to keep supporting women’s entrepreneurial dreams.


Client Feature: Carmen Roberts-Kowalchuk

Carmen Roberts-Kowalchuk began her career in human services working with children, high-risk and vulnerable youth and persons with disabilities. As a mother to six children, she found that to thrive in the fast-paced world of social work, she would need to find a way to prioritize family time.

A simple way to recharge was to go camping with her family. After spending a season at Willey West Campground just outside of Drayton Valley, the opportunity came up for Carmen and her husband to operate the campground. As of January 1, 2020, they took over the campground and created Elevated Experience Camping Inc.

Through this new venture, Carmen is able to utilize her leadership strengths and channel them into a new career path. To supplement her business knowledge, Carmen has taken several workshops through Alberta Women Entrepreneurs (AWE) and has also received financing from AWE.

“I wanted to start aligning with the right type of organizations, like AWE, to help us be successful.“ Carmen’s goal was to create a business that would help people fall in love with the outdoors without sacrificing amenities. 

Elevated Experience Camping lives up to its name by taking the camping experience to the next level. You’ll find surprises such as a retro arcade, goat yoga, glamping sites, mini-golf, large yard games including ping pong, late-night fresh pizza, and an online delivery service at Willey West Campground. 

“Whether you're a beginner camper or long-time camper, or whether you want to be left alone or catered to — I can offer that whole spectrum,” says Carmen. 

The first year of business for any organization can be challenging to navigate, but this is especially true considering the challenges brought on this year. Despite that, Carmen says their first year was a success, with over 60 percent of customers new to the campsite. 

With this year’s new rules around sanitation and cleanliness, Carmen decided to bring on more staff to meet the demands. Though she could have chosen to shut down some amenities (which many campgrounds did), she believes increasing her staff was the right choice, especially based on feedback they've received and positive Google reviews from their campers. 

Carmen and her husband have set up a society alongside the business that allows them the opportunity to give back to the community and to receive grants to support innovative projects at Willey West Campground. They now have access to employment grants to aid in hiring individuals with disabilities. They’ve recently purchased a food trailer and will be running a program for at-risk youth in which they will learn to manage the food trailer to gain important skills. 

Though Carmen admits that working with her husband can be challenging, she says their differences make them a good team. “We're a good combo because we have the ying and the yang. We come to the table with different views… it’s about learning and listening to each other and figuring out how we can mesh those together really well.”

The pair have made it a priority to support other small businesses around Drayton Valley. 

“It's really important to find out what businesses align with your vision and mission and work together. It's not always about taking a percentage; it’s about working together and collaborating to make each other stronger.”

Carmen says the future plan for her company is to expand the brand and to take on more campgrounds to become a front runner for Alberta glamping. “It’s really about building the brand and the elevated experience. We feel that that is something people really are interested in.”

The Key People You Need When Starting Your Business

The process of starting your own business can be one that is both rewarding and overwhelming — and maybe a bit lonely. Luckily, you don’t have to navigate the process by yourself. Reach out to business experts and professionals to help get you started and guide you in your success.

Accountant

Whether you’re a sole proprietor or a corporation, it’s important to have an accountant. “Working with an accountant to properly set up your books is a really strategic way to better understand your financials right from the beginning and then, when it’s tax time, you won't be in a panic trying to figure out your taxes on your own,” says AWE’s Business Advisor Jenifer Horvath.

If you want to be a successful business owner, you should know where you’re at financially, and that means (ideally) checking in on a daily basis. Online options like QuickBooks or Wave make this easy; be sure to ask your accountant to help set you up with something that is convenient for you to use.

Lawyer

A lawyer is especially important for those looking to incorporate their business or enter into a partnership agreement. A lawyer can help with the fundamentals, such as structuring shares, negotiating/writing contracts, and the protection of your intellectual property.

Here are two affordable ways to access legal advice in Alberta:

  • BusinessLink’s Ask A Lawyer program. Sign up for a 30-minute phone call for a $29 fee to receive legal advice and ask questions.

  • To find a lawyer who best suits your needs, you can access the Lawyer Referral program provided by the Law Society of Alberta. Connect with up to three lawyers to discover the best fit for your legal needs. The first half hour is unbilled to discuss your legal issue, evaluate potential costs, and determine if that particular lawyer is a good fit for you.

Insurance Agent

“A lot of people miss this step,” says Jenifer. Ensuring that you have the proper insurance in place for your business is crucial, even if you are practicing as a consultant. A business insurance expert will assess your needs and find a business liability insurance policy that suits your company.

Trusted Advisor

This is someone with experience who might have some insights to offer you. AWE offers free advising services to women entrepreneurs in Alberta. An AWE Business Advisor can help you talk through your business strategy, your delivery model, and how to manage cash flow. They can also delve into marketing, talk about mindset management, connect you with other resources, and more.

Business Link also provides advising services with free one-on-one advice with one of their trusted advisors.

Business Coach

Starting a business can be stressful and having a coach to help you can be really beneficial. “A true coach doesn't provide you advice. They ask questions for you to get clear on what you need to do. The coach is on your side,” says Jenifer.  A business coach can help take your business from where it is now to where you want it to be. They help you realize your vision. 

Peers

Friends and family are great resources to lean on but sometimes they aren't the best people to turn to talk to about your business. “What I hear a lot from people is that their friends who don't run businesses don't get it,” says Jenifer. Instead, she recommends finding at least one individual who you can talk business with — someone who is maybe at a similar stage. Consider finding a mastermind group or if you prefer online, there are many options to be found.

Ask for Help

Whether you are looking to start a business or have already begun the process, the key is to find people and resources to support you. “Women who start businesses are often independent, we have a vision, a goal, we're self-driven, we often forget to ask for help,” says Jenifer. If you can reach out to people who can help you and give you ideas, you’ll be set up to create a stronger business from the beginning.

Nominee Spotlight

Here's a selection of links published about or by our 2020 AWE Awards nominees, curated by Taproot Publishing.

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