Regardless of whether your ideal client is an independent business owner or part of a large organization, the time you spend in choosing the rights clients will put you further ahead in the long run than settling for work from those who don't "fit" you business model or professional value system.
Many in venture capital preach the gospel of raising equity, saying that a small piece of a large pie is better than a large piece of a small pie. This is often self-serving. Although sometimes raising equity makes sense, entrepreneurs are too often on the side of parting ways with equity too easily, so that isn't the best advice.
The Canadian fintech marketplace is growing with significant speed. Canadians' adoption of financial technology -- or fintech
As we shift from a resource-based economy to a market rooted in innovation, companies are increasingly looking to the startup ecosystem to remain competitive. It's no longer simply about trading on their cool factor; corporations want to gain a deep understanding of the culture of collaboration and partnership that drives startups' success.
In this day and age, digital marketing is like the vitamins for your business -- an essential part of growth. Here are 4 things that entrepreneurs need to understand about the importance of running digital marketing in parallel with product and service development.
Many people in corporate roles fantasize about breaking free and launching an entrepreneurial venture. Three years ago I took the plunge and did just that, leaving behind a senior role in management consulting to start a talent marketplace for freelance consultants. Unfortunately, my business model didn't gain traction, but the experience was the best thing that ever happened to me professionally speaking.
Approximately 140,000 new businesses are started every year in Canada, yet half of them don't make it to their fifth year. Small businesses are key drivers of economic growth in our country and we must equip entrepreneurs with the tools and resources they need for long-term success in order to help transform Canada into the innovation hotbed we know it can be.
Being friendly doesn't mean sharing every secret or disregarding competition. After all -- you're both after customers in a crowded marketplace. Just realize that strategically aligning with the competition can make your business better. McDonald's needs Burger King; FedEx keeps UPS on its toes. Healthy business rivalries help stave off complacency and will make your company stronger in the long run.
You set your hours, you choose your colleagues and you control your brand. Though entrepreneurship definitely has its upside, it can also be a rude awakening for those who don't have a realistic understanding of the challenges that come with being your own boss.
Pre-seed, a relatively new stage in the funding process, is becoming more recognized in the Canadian startup ecosystem and in other startup hubs around the world. The trend is growing for a number of reasons, and Canada would benefit from more capital dedicated to pre-seed from truly value-added investors.