You Don't Have to Go It Alone: 5 Reasons Joining a Peer Group Can Be Beneficial for Entrepreneurs

Who do you go to for advice and support? Who do you bounce business ideas off of? Who pushes you to think bigger?

If you don’t have an answer to these questions, maybe it’s time to consider peer mentorship.

Peer mentorship is a way for entrepreneurs to discuss their goals and challenges, and learn from each other. Unlike a traditional relationship between an experienced mentor and a more junior mentee, peer mentorship takes place between people who have similar levels of expertise and similar concerns. Having a peer group of like-minded people provides emotional support and encouragement, while providing access to a variety of ideas and perspectives.

Without a strong network, entrepreneurship can be isolating, and at times lonely. Being surrounded by your peers in a safe and supportive environment can be really valuable to both you and your business.

Here are five benefits to joining a peer mentorship group:

1. You might find out flaws in your strategy. Even if you have a business partner or employees that you can brainstorm with, there is a benefit to gaining an outside opinion. Peer mentors provide a fresh perspective and this allows you to realize potential problems with your strategy and make changes. “Other entrepreneurs have a special insight and mindset that is hard to find. They willtell you what may not work and provide unbiased feedback. They are not your customers and they are not your competitors.  The entrepreneurial group allows you collaborate on ideas,” says Shannon Lenstra, President of Kon-strux Developments Inc., and an alumni of AWE’s peer mentorship program.
2. Create more holistic long-term plans. With a peer mentorship group you receive a higher level of feedback on your business planning, and you get to hear a variety of perspectives. With more people to bounce ideas off of, you are less likely to have gaps in your decision making.
3. They can provide you with the confidence to push forward, and to fail. No entrepreneurial journey is without mistakes. Being surrounded by like-minded entrepreneurs can boost your confidence and encourage you to seize opportunities, without being held back by the fear of failure.
4. Build long-term relationships. Unlike a contracted business advisor or consultant, peer groups build community. Many entrepreneurs maintain relationships with those in their peer mentorship group long after the formal program has ended.
5. They don’t just care about your business, they care about you. Running a business can be stressful at times, and other entrepreneurs understand that! A peer group can provide that emotional support and allows you to talk openly with people you can trust.

How do you find the right group for you?

Talk to other entrepreneurs in your network, and ask them if they’re in any groups and what their experience has been like. Inquire with various entrepreneurial service providers in your community and see if they offer a group of their own, or if they can recommend any for your stage of business.

Finding a good fit might take some time and you might have to try a couple groups out before you commit to something. If you’re interested in a peer mentorship program aimed at women entrepreneurs with a strong desire to grow their businesses, be sure to check out our program. Applications for fall intake are currently being accepted.

Already have peer mentors? Share your best tips on finding mentors in the comments!

Client Feature: Tessa Martin

We sat down with Tessa Martin, Owner and Registered Psychologist at Serenity Now Wellness Center in Calgary to learn more about her new location, how she juggles her business and raising a family, and her experience with the PeerSpark™ program. 

Q: Tessa, tell us how you started Serenity Now Wellness Center

In school, I always knew I wanted to have my own private practice. It's a goal for many other Registered Psychologists. When I was finishing my residency, I decided to skip getting a job (since I was used to making no money!) and jump into my own practice as a solo practioner. This was in 2008 right before the downturn of the oil and gas industry. While many businesses were failing, I got busy- really fast! We are the opposite of most markets. When there's a downturn in the economy, there is an increase in the number of people seeking mental health services. 

In 2010 I decided to expand to a new location and bring on other practioners into my business. I knew by expanding I would have more leverage and not have to solely rely on my own income as I continued to grow the business.

In April 2017, we opened our newest location that offers both mind and body wellness and I am very excited about it! We now currently have 14 contractors working for the company.

Q: What would you say has been the most challenging aspect of being an entrepreneur?

A: It is definitely managing and motivating people. This is a completely different skill set! I would have thought as a psychologist that this would have been a natural skill but it is very different doing it as a psychologist and doing it as an employer. I am constantly re-inventing the wheel and finding ways to motivate those within my company to work harder and more effectively.

             The new Serenity Now Wellness Center is located at 1934 9 Ave SE in Calgary, AB.

Q: What's the best part of being an entrepreneur?

A: (laughs) Being an entrepreneur is crazy at times, but one of the best parts is not having a limited income. I feel like if I was in a job, I would feel stuck and not as free. With having my own business I can always take on more clients, innovate and find new streams of income to add to my business.

Q: How do you juggle being a Mom of young children and a business owner?

A: I am always mindful. I make sure that my kids aren't getting the short end of the stick. It's so important to be present as much as possible, however it doesn't always happen. I've been really good at setting clear boundaries for my work and my home life. I make sure that weekends don't include meetings or clients and that I am checking my phone minimally. 

Q: How did you hear about AWE?

A: My Mom and Sister were building a business at the same time I was. They were looking for different resources to help them succeed and that's how I found out about AWE. In the beginning, I started out with $5,000 loan and since then have used every service possible. 

“The ladies in PeerSpark™ are my life line. When I need encouragement the most, I reach out to them for words of wisdom.”

Q: What have been some key takeaways from the PeerSpark™ program?

I joined the program in 2016. I've learned so much from it, but most of all it comes down to being really clear on the business side of things. This includes being more strategic in determining my growth plan. In my education, there wasn't a business component. I would read a book here, and take a webinar there to help learn as much as I could about running a business. PeerSpark™ brought the business knowledge together in a more coherent way. 

Another amazing part about the program is the other women entrepreneurs. The ladies are my lifeline. When I was transitioning into the new space, I was feeling overwhelmed. I sent out an email to the group for words of encouragement and had an influx of emails back. Those positive words kept me going. It's nice to be surrounded by women that actually know what it's like. We are all working towards growing our businesses, not just stay complacent.

Be sure to follow Serenity Now Wellness on Facebook and check out their website www.serenitynowwellness.ca. If you're in the Calgary area, stop by their new space and check it out.

Interested in learning more about the PeerSpark™ program and how it can help your business? Get in touch with us today! 

Mission Accomplished!

Last month, AWE accompanied four Alberta-based, women-led businesses to the WBENC National Conference & Business Fair in Las Vegas. They say what happens in Vegas, stays in Vegas, but I am too proud of our delegates and what they accomplished not to share!

The BWIT trade mission to Las Vegas offered the chance for women business owners from across Canada, including our Alberta delegation, to explore the opportunities of expanding their businesses into the international supply chains with supplier diversity programs.

To prepare for the conference, we helped our delegates prepare a strong, impactful business pitch and capability statement to connect effectively into this network. On the ground, they had the opportunity to get to know Fortune 500 companies, other Canadian businesses, as well as businesses from China, India, Mexico, and the UK.

Our delegates made the most of this opportunity and initiated new business relationships or learned quickly that their targeted connection was in fact not the right fit for their business and they could pivot their focus elsewhere. Some of the best connections were made through informal conversations with new contacts and resulted in the potential for both sides to expand their business through strategic collaboration.

I was so impressed with this group of business owners who had really done their homework and were laser focused on identifying the right opportunities for them to grow their business. We will continue to work with each of these women to conduct follow up with their targets. I can’t wait to see what they accomplish!

If you’re interested in exploring a new market opportunity in a supported and organized environment, join us on our next Trade Mission, Go for the Greens, in September in Florida.

Happy sunny summer everyone!

Marcela

How to Know When to Fire a Customer

The customer is always right. We hear this business cliché time and time again, but do we ever stop to think if it’s actually true? We’re here to tell you that it’s not! The customer is most definitely not always right, and it’s important to be able to fire a customer in the same way that you would fire an employee who is causing the company grief.

Some customers are simply not profitable, or cause more of a headache than they’re worth. You shouldn’t be trying to please everyone because this is ultimately a waste of time, energy, and resources. You’re better off understanding who your profitable customers are, and how to attract more of them. When you are attracting the right customers who are in line with your brand and what it stands for, you will be providing better service and fostering loyalty with these customers. The more loyal your customers are, the more frequently they will come back, and the more positive word-of-mouth they will spread.

So how do you know when to fire a customer?

1. The customer abuses company policies and drains resources. Every business has experienced the customer who takes advantages of warranties, return policies, or sampling. These policies have been put in place to ensure great service for customers who will in turn be loyal and come back. If a customer is continually taking from a business and it is apparent that they will not be converted into a satisfied customer, they need to be politely turned away.
2. The customer delivers a much lower return on income than others. This situation is more difficult to spot because the customer is not intentionally causing any issues. However, in the long-run your employees are utilizing more resources to serve this customer than the customer is contributing back in return. They can usually be phased out by reducing the amount of effort employees invest into them over time, which will guide the customer out the door without any hurt feelings.
3. The customer abuses employees. Some customers can be real jerks, and it doesn’t matter how much they are spending with your business if they are draining employee morale while doing so. The toll this takes on employees will decrease productivity and leave them wanting to quit. You may suffer a short-term loss in revenue but in the long-run you will have created a more sustainable, profit-generating environment.

Now you’ve decided to fire, but how?

First and foremost you want to ensure you aren’t going to generate negative word-of-mouth by firing a customer unfairly or unprofessionally. Follow the next three steps to settle things amicably with the ex-customer.

1. Try to clarify disagreements. Take the customer aside and communicate to understand both sides of the story. The customer may be acting out because they feel they have been wronged by the company. Don’t mistakenly fire a customer because they are upset with your service, and if there was a service mistake on your end, it’s important to rectify it. If you were not in the wrong and they are still upset, empathize with them, but explain rationally why you cannot help them.
2. Be professional. Use a polite tone of voice and calmly explain why the business will not be a good fit for them in the future.
3. Suggest alternatives. Guide them to a business who may be a better fit for them so they leave feeling like they have another option.

Most importantly, learn from the experience and define why the customer was a bad fit so that you can avoid getting into similar relationships in the future.

Client Feature: Alex Favret

We sat down with Alex Favret, Founder of Powerhouse Print and former PeerSpark™ participant to learn more about her business, her adventure in growing a business and raising a family, and her experience with AWE.

Q: Tell us how you got started with your business?

A: I’m a serial entrepreneur! I started out in the event industry back in 2001 and those connections eventually led me into opportunities in the print world. I’m now also expanding my reach with my latest venture, Powerhouse CMO.

Q: What do you like most about being an entrepreneur?

A: The people and the flexibility. Each day I get to interact with interesting and inspiring people who I challenge me and help me grow. I also love the flexibility of my schedule which allows me to be nimble for my clients, while also not missing out on important moments in my children’s lives.

Q: Speaking of families, tell us how you balance raising a family and running a business?

A: The most important thing for me is staying diligent. Even though I often work from my home office, I am conscious of setting regular work hours and limiting distractions. My kids are officially on summer holidays now, but that doesn’t mean that I get to hang at the pool with them every day...at least not all day!

Q: How did you get involved with Alberta Women Entrepreneurs (AWE)?

A: My relationship with AWE started back in 2007 when they purchased a conference for women that I produced (which is now their Learning Day). From there, I have continued to work with AWE on their printing needs and I also became a member of PeerSpark™ in 2013. I am currently in the PeerSpark™ alumni program. AWE has also hired our Powerhouse CMO team to be their outsourced marketing department.

Q: What would you say was the most valuable takeaway from the PeerSpark™ Program for you?

A: Most definitely the insights from other entrepreneurs within the program. Everyone has taken a different path and is able to offer sage advice for situations you might currently be facing. I also loved the facilitated discussions, particularly the Colours Workshop from Juna Consulting. That session gave me great insights on working as a leader and collaborating with others.

Be sure to follow Powerhouse Print on Facebook and Twitter and check out their website www.powerhouseprint.ca

Interested in learning more about the PeerSpark™ program and how it can help your business? Get in touch with us today! 

Client Feature: Tracy Fortin

We sat down with Tracy Fortin, Founder of Flawless Interiors and current PeerSpark™ participant to learn more about her business, what she has gained from the program and what it takes to work with your spouse every day.

Q: Tracy, tell us more about your business.

A: I once heard my job described as a conductor of a highly aesthetic orchestra.  I love that – and it’s so true.  Really what we do, is take people’s needs and wants as they relate to their home or office spaces and turn them into plans that can be implemented.  Our clients are super busy and don’t have time to be running around from supplier to supplier to determine what will function and look the best in their space.  So whether they are renovating an entire home, building a brand new home or remodeling an office – we take that stress off of them right from the start all the way to the finish.  From permit ready architectural drawings to the last placed accessory – we make sure their design projects are done right.

Q: What was the biggest challenge you faced as you started to grow?

A: By far, knowing when the right time to hire has been the biggest challenge, and still is.  Getting comfortable with making mistakes helps.

Q: What advice do you have for those looking to run a business with their spouse?  

A: Get really clear on each of your roles right from the start.  Define expectations and be sure to hold to each other accountable.

Q: How did you find out about AWE? 

I attended a Learning Day event and met an AWE staff person who was promoting the PeerSpark™ program.  I knew it was exactly what I needed at that time for my businesss.

Q: What is your biggest take away from PeerSpark™? 

A: Being the architect of your own life takes fearlessness and a vision for your life plan.  You have to believe you can achieve and on the days that you don’t, have people in your corner who can believe for you.  That’s what PeerSpark™ is.  We were all in similar places emotional even though our businesses varied so greatly.  We are constantly lifted each other up and motivating each other to keep going.

Q: Who do you go to for advice? 

A: Well aside from my PeerSpark™ ladies, I read a lot.  There are so many inspiring books that have kept me excited about both running a business and the design industry.  My most recent favorite book is called “In the Company of Women” by Grace BonneyIt’s filled with inspirational advice from  female entrepreneurs around the globe.  I also have other friends who run their own businesses – so it’s a hazard of being an entrepreneur that we are constantly taking to each other about ways to do business better.

Be sure to follow Flawless Interiors on Facebook and check out their website www.flawlessinteriors.ca

Interested in learning more about the PeerSpark™ program and how it can help your business? Get in touch with us today! 

Celebration of Achievement Reception Re-Cap

We were thrilled to celebrate with some amazing women entrepreneurs, community partners, sponsors, friends and family on May 18, 2017 at our Celebration of Achievement Reception. 

This year we hosted the event at the beautiful Oasis Centre in Edmonton. The room was filled with joy, excitement and buzz. With over 200 people in the room, we were honoured to receive greetings from the Minister of Innovation, Science and Economic Development, The Honuorable Navdeep Bains and hear MLA for Edmonton-Meadowlark Jon Carson share his welcome from the Government of Alberta.

The event was dedicated to not only celebrating our 2017 Celebration of Achievement recipient, Jeanette DeBruin, but also announcing the recipients of our Emerging Entrepreneur Award, Emerging Innovator Award and Upsurge Award.

The anticipation built as a video of the finalists in each category appeared on the screen (to view these videos, please click here). We also had a surge of social media which had #AWECelebrates trending on Twitter. Check out our favourite tweets here.

We were thrilled to announce the following as our 2017 Award Recipients:

Jeanette DeBruin, AltaPro Electric, 2017 Celebration of Achievement Award Recipient

Kristi Stuart and Jill Belland, Barre Belle YYC, 2017 AWE Emerging Entrepreneur Award Recipient

Lane Edwards, Pura Botanicals, 2017 AWE Emerging Innovator Award Recipient

Nancy Klensch, Summit Kids, 2017 AWE Upsurge Award Recipient

From Left to Right: Jeannette DeBruin, Lane Edwards, Nancy Klensch, Kristi Stuart

We were very excited to celebrate with these amazing women. We would also like to extend a huge congratulations to all of our nominees and finalists. You are all doing amazing things for our communities and local economies.

A special thanks goes out to our presenting sponsor, ATB Business. We could not do this event without you! Thank you for recognizing the importance of entrepreneurship and making it a focus for your business. We would also like to thank Grant Thornton for your help with our nominee selection process. Thank you to Hillberg and Berk for the beautiful gifts for our recipients and generous gifts for all attendees of the awards program. And last, but certainly not least we would like to thank Quinn Ohler from Global Edmonton for volunteering her time to emcee this year's program.

Our awards program will open again in 2018. If you know someone who would be deserving of one of our four awards, let us know! We can't wait to celebrate with you all next year.

2017 Celebration of Achievement Recipient Announced

Alberta Women Entrepreneurs (AWE) is pleased to announce Jeanette DeBruin as the recipient of this year’s Celebration of Achievement Award, which recognizes an exceptional woman entrepreneur who has built a business in Alberta with a significant impact on the economy and the community.

The Edmonton-based co-founder of AltaPro Electric will be recognized at the 2017 Celebration of Achievement award reception on May 18th at the Oasis Centre in Edmonton.

Read the full release here.
 

We're Hiring!

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 Program Coordinator to join our team. We provide unique programs and services to women in business through mentoring, advising, financing and skills and network development. Our ideal candidate is a is an organizer extraordinaire who loves to create great client experiences by implementing excellent programs.

Interested in learning more? Click here.

Client Feature: Deidra Helmig

We sat down with Deidra Helmig, Founder and Senior Consultant of Boreal Services Group and current PeerSpark™ participant to learn more about her business and the advice she has gained since joining the program.

Q: Deidra, can you tell us more about your business and how it all got started?

A: It all started when I was working for my family business. They needed help writing a safety program for the business. I knew nothing about safety. They ended up putting me through the courses that started from very basic to advanced. From there I ended up working as a Safety Officer within my family's company. 

During that time, I was picking up my daughter from school one day and was chatting with another Dad about what I did for work. I told him I was a Safety Officer and as it turns out, he said he was looking for someone to help build a safety program for his company.

I ended up taking the contract and continued to work a combination of freelance and full-time in my role for my family's business. Eventually referrals continued to come in and four years ago I decided to leave the family business and run Boreal Services Group full-time.

Q: What would you say were some of the key challenges when starting your business?

A: There are always challenges I am facing as a business owner! There is always so much more work to do on-top of the work you are getting paid for. It's okay to learn and make mistakes- I still make mistakes some days.

Marketing was a large challenge for me when I first started. I have always been shy about talking about myself and selling what I do. At first I relied solely on word of mouth, which is great but not always sustainable if you are not getting out there and marketing yourself.

Another challenge has been cash flow. At times clients will take 30 to 60 days to pay, but the bills keep on coming and they need to be paid right away. I have spent a significant amount of time figuring out how to manage money, especially with the nature of the industrial construction industry!

Q: How did you first find out about AWE?

A: My first experience with AWE was at the 2015 Learning Day. I attended with a friend and fellow entrepreneur. At Learning Day I found out about PeerSpark™. I realized then that this program was going to be a great opportunity to help connect me with other women entrepreneurs and gain formal training from a business standpoint. 

Q: In the PeerSpark™ program there are a variety of workshops to help you as a business owner. Which one would you say has stuck with you the most?

A: I would say the Leadership and Human Resource sessions. In the last year we made our first hires. We hired three people! I don't think I would have had any idea of how to do that if it hadn't have been for the HR session. 

The Leadership session was more about me. To be a leader, you have to have people to lead. It was a good eye opener about how I work, what my strengths are, what my weaknesses are and if I want to get better at them or accept that they are my weaknesses and hire help where I need it. 

Q: What advice would you give to someone who is looking at expanding their own entrepreneurial journey?

I would highly encourage others to get involved with some sort of a group. Whether it’s formal like PeerSpark or whether you can gather your own group in more of an informal setting. Running a business can be lonely and frustrating. It's good to have a network to lean on who really understands. Sometimes friends and family members don't always get it because they don't have their own businesses.

AWE has provided me with so much information, resources and guidance. I am currently considering expanding globally and would have never thought I could really do it if it wasn't for my network in AWE and seeing other women take the leap and do it! Everyone has been so generous with knowledge and experiences.

Another important piece of advice I would give is to take care of yourself! I dedicate time every day to go outside, walk and spend time with nature. When I find myself getting too busy to do that, everything seems to fall apart. Self-care is critical.

I also encourage entrepreneurs to read everything! Even if it's not business related. Once again, you may say, "I'm too busy!", but I definitely recommend it. Right now I am reading Chris Hadfield's book and have been able to take away so many lessons about life, leadership and more.

Be sure to follow Boreal Services Group on Facebook and check out their website www.borealservicesgroup.com 

Interested in learning more about the PeerSpark™ program and how it can help your business? Get in touch with us today!