Innovation Cluster Admin, Autor em Innovation Cluster

2022.08.19

6 Benefits of a Hybrid Work Model for Startups

In March 2020, millions of people worldwide shifted from working full-time at the office to working full-time from home. And although many would agree that the first few months were challenging for a variety of reasons, now almost 2.5 years later this mindset has largely changed.

With new workflows and routines in place, the majority of from-home workers do not want to return to the office, at least not full-time. The Harvard Business School surveyed 1,500 people who worked from home between 2020 and 2021 and found that 61 percent wanted to continue working from home 2-3 days per week.

Many professionals have embraced the benefits that working from home can offer such as greater flexibility, no time lost to commuting, and cost savings, but at the same time see value in returning to the office on a part-time basis so the advantages of a workplace environment are not lost.

But when you’re an entrepreneur trying to take your company to the next level, how can this arrangement work?

What makes a great work environment?

What are the benefits of a hybrid work model for startups?

How do you adopt a hybrid setup as an entrepreneur?

Let’s first review what a hybrid work model is and the different forms it can take.

What is a hybrid work model?

A hybrid work model is all about flexibility, supporting workers’ productivity, happiness, and well-being rather than focusing on their working location. This is typically a combination of working from home, the office, or on the go.

How many workplaces have adopted a hybrid work model?

In an April 2022 survey of 800 workplace leaders from around the world, 77 percent adopted a hybrid working model with an “At-will Model” being the most popular.

What exactly is an At-will Model? It is one of four main hybrid work models that are commonly used in workplaces where a hybrid setup exists.

What are the different types of hybrid work models?

At-will Model

This model gives people autonomy to choose work environments that best support their productivity and lifestyle. The environment where they choose to work can vary from day to day depending on their schedule and the type of project they are working on.

For example, some work weeks may require more meetings than others. During these weeks workers may choose to work from the office more often as in-person brainstorming and collaboration is often richer than on virtual platforms.

In contrast, if a person needs to focus on a solitary project and feels being surrounded by people at the office is a distraction, there may be a week where they only work from home.

The core of an At-will Model is not confining people to work in a certain environment but rather embracing what works best for them.

Split-week Model

The Split-week Model offers flexibility but within particular parameters. Workers split their week between working from home 2-3 days a week and working onsite on the remaining days.

This model within a larger company is often done by assigning certain departments days of the week they will work from home and which days they will come into the office.

Split-week models ensure that team members are connecting regularly and managers can check in with people face-to-face.

Shift Work Model

People work in shifts every day, alternating between working from home half of the day and working on site for the other half. Generally, this model is not ideal as it breaks up the working day forcing people to relocate to a new work environment.

Week-by-week Model

The last model has teams alternating between working from home and working onsite on a weekly basis usually as a collective, meaning everyone follows the same schedule.

This setup can be powerful as everyone works off-site at the same time to focus on individual projects, and then best utilizes in-person time as a team the following week with meetings, brainstorming, and project updates.

Why is a hybrid work model beneficial for startups?

Depending on what stage you are with your startup, you may have a tiny team of 1-2 people or you may be at a point where you have a team that has grown.

Whether you are in the beginning stages or have been growing your company for a while, teamwork, brainstorming, innovative ideas, and collaborative efforts are crucial to a startup’s success so the idea of implementing a hybrid work model may not seem like a good idea at this point in time.

However, there are many benefits to a hybrid work model that will not only benefit your team, but will also benefit you as a startup owner, and ultimately it will benefit your business.

6 Benefits of a Hybrid Model for Startups:

1. Increased Productivity

Every person within a company is different with varied strengths, weaknesses, and the type of environment in which they thrive.

As a startup business owner, you can recognize which team members work best in quiet, focused atmospheres, and which ones excel in high-paced, high-energy environments.

The beauty of a hybrid model is it brings out the very best in every person — those who love collaboration and the social aspect of the workplace can produce their very best work by coming into the office while having the option to work remotely if needed. In contrast, team members who work best on projects in their own space can work from home with the ability to come onsite if needed.

The main message is maximizing productivity is extremely important, and by coming up with a hybrid work model that best suits your company you can maximize your efforts.

2. Increased Work Satisfaction

Enabling both you and your team to be the best you can be through work environment flexibility will naturally lead to greater work satisfaction.

In a survey of 1,000 UK-based employees, 65 percent of people that were able to follow an At-will Hybrid Model were satisfied with their jobs, while only 53 percent working onsite exclusively and 57 percent working from home exclusively were satisfied.

Having your team feel accomplished, productive, and important to the company is something that is invaluable to a startup as it motivates and drives your team to achieve the next big goal or next phase of growth.

3. Improved Mental Health

Prioritizing the mental health of you and your team makes everyone feel appreciated and valued. When you or a team member is stressed, anxious, or overwhelmed it can lead to serious health concerns and is toxic for your startup.

Following a hybrid work model provides flexibility for both you and your staff to take mental breaks when needed, participate in physical activity, and work in a place that is conducive to feeling little stress.

As an example, many people find that taking a walk, doing yoga, or participating in another physical activity as part of their daily routine helps them feel relaxed and more focused when they return to work. With a hybrid work model, they can enjoy these activities and return to working as a better version of themselves.

Work environments can be a significant mental health trigger and some find that working from home is less stressful whereas for others it is the opposite.

4. Better Work-life balance

Let’s face it, life can get busy when we add in work, families, and other responsibilities. When business owners consider their employees’ challenges and personal interests outside of the company, it makes everyone feel happier and less stressed about juggling so much at once.

Since the beginning of the pandemic, many people have enjoyed working from home as it has allowed more time spent with families and enjoying hobbies due to eliminated commuting time. Adopting a hybrid work model is a great way for both you and your team to maintain a healthy work-life balance by being less focused on where someone must work. Working from home most days may remove a lot from some people’s plates, while working from the office may do the same for others.

Another consideration is to loosen the structure around working hours if it is feasible for your company. Some people perform much better in the earlier half of the day while others perform better in the evening. Allowing flexible work hours would allow your team to be most productive in their chosen working hours and take care of personal matters in their not-as-productive hours.

5. Meaningful Company Culture

You may think that not having all team members in the office together full-time could hurt your startup’s culture – but the opposite can actually be true.

Supporting the needs and preferred work environments of you and your team becomes a major contributor to your company’s culture and what you value as an organization. It sends the message that you value people, your time, and overall the well-being and happiness of those around you.

Having this culture is a great way to attract great talent to your team as hybrid work models are something more and more professionals are looking for. This will help greatly in your recruitment processes throughout your startup’s growth.

6. Save Money

Depending on the size of your startup and your team, following a hybrid model may allow you to not have the expense of a designated office, at least during the beginning stages of your company’s growth.

You may ask how a hybrid work model is possible if you do not have a physical workspace, but there are alternative options that allow you and your team to work in-person.

You can arrange to meet as a team once or twice a week for meetings, updates and brainstorming sessions by reserving a private table at a coffee shop or restaurant. Buying your team coffees or lunch once a week will be nothing compared to the overhead costs of running an office.

How do you adopt a hybrid work model as a startup?

Do you love the idea of following a hybrid work model but you’re not quite sure where to start or what you need to do to make it happen? Here is a list of things you should consider to make sure your hybrid setup is well thought out and successful for your business.

1. Requirements from your team

Does your team have what they need to work efficiently from home? Do they have the correct technology or software? Make sure that both you and your team can work as effectively from home as they could at the office.

2. Communication strategies

Because you may have all team members working remotely some days, and other days a mix, having solid communication strategies in place will be instrumental in achieving an effective hybrid work model.

When everyone is physically together, it is easy to quickly speak to each other about projects, but when you are remote these unplanned conversations need to translate to digital platforms.

3. Create effective workflows and processes

Whether a team member is working on the go, at the office, or working from home, the same workflow and processes for your team should apply. A person who typically prefers working onsite but one day needs to work remotely should not disrupt any projects or deadlines.

A hybrid model is dependent on having clear workflows established so the team is efficient and nothing falls between the cracks.

4. Joining a startup incubator

Joining a startup incubator is a great way to work within a collaborative workspace while having the option to have a hybrid work model. In addition to an inspiring workspace, startup incubators provide mentorship and support when working at home.

Innovation Cluster Peterborough and the Kawarthas offers a startup incubator program located 1.5 hours from Toronto, Ontario that supports entrepreneurs to launch and grow their companies from their workspace, virtually, or by following a hybrid work model.

Contact the Innovation Cluster to learn more!

Networking

2022.08.11

3 Ways to Improve Your Networking Skills

If you’re an entrepreneur trying to grow a business, you should already be well acquainted with the world of networking. Attending events, conferences, or speaking with industry professionals is a fantastic first step, but are your efforts effective? Unfortunately, merely participating in networking activities does not accelerate your business; you need to form good quality connections. Building relationships that will help in your company’s growth requires good people and networking skills, which for many of us can be intimidating. To increase your confidence and abilities, we have outlined 3 ways to improve your networking skills.

What are effective networking strategies vs. skills?

To start, let’s differentiate between networking strategies and networking skills. When we talk about strategies, we are focusing on the what and where, and with skills we are focusing on the how.

Having networking strategies is definitely important — what types of events you will attend, what forms of networking you will use (online, in-person), and where the best networking locations are that are relevant to your business.

However, what is less frequently written about or discussed is the how. If you don’t know how to network effectively at events and do not have the right skills, you are missing out on opportunities to form high-quality connections with people who can make a significant impact on your business’ success.

How do you improve your networking skills?

There are always going to be people who learn and master skillsets more easily than others. For some people, networking skills come more naturally but for many others, this is an area we need to consciously try to improve.

Building and improving your communication and networking skills is something that should have no end. It is an area you can always work on.

Our ‘3 Ls’ that will help improve your networking skills:

Listen

When most people think of networking, they think about how they will speak to others about themselves and their business. This is only 50 percent of networking. Many forget about how important it is to be a good listener.

People enjoy speaking to individuals who are interested in what they have to say. Having a conversation is a two-way street, and nobody enjoys speaking with someone who only talks about themselves.

Listen actively and respond in conversations by referencing details. If you meet the same person at a second event, this is where you can really show you enjoyed speaking with them by referencing something they discussed the first time you met. This shows people you are genuine and invested in getting to know them.

Loosen

Networking events are made up of professionals looking to network for business, but that does not mean you need to be super serious, stiff, and ultimately, boring.

The perfect balance is to come across as polished and professional as laid back and likable.

Loosening up a bit and approaching networking with the objective of forming human connections rather than networking your business can lead you to build stronger connections.

Sometimes, this means you are not discussing business at all.

Imagine you are having a great conversation with someone and they start telling you an amusing story from their past camping adventure. It is not wise, natural, or polite to cut them off to talk about business.

Continue this conversation with genuine interest, and it is almost a certainty that the conversation will organically lead to what you each do for work. The more organic and humanizing a conversation is, the better.

Laugh

Nothing will make you more memorable and likable to others than if you share a good laugh.

We know not everyone is a comedian or life of the party, but if you can find ways to naturally insert humour into your conversations it will go a long way. Humourous people are often seen as more approachable and someone people want to spend time with, and adding humour into professional environments can have many benefits.

You do not need to rehearse jokes that will not flow into conversations, but if you see an opportunity to insert some humour, even if it’s subtle, it will make people around you more relaxed and therefore the quality of your conversation can end up being much better.

How do you continue building networking skills?

Continually improving and building your networking skills comes down to one solution: practice. Participating in more networking events, preferably in-person, will give you more opportunities to practice your networking skills so they eventually become easier.

Networking truly can help your business grow, but it is the how to network that will form great connections.

Camila Duarte

Senior Innovation Specialist &

STARTup Visa Program Manager

Startup Visa

2022.08.05

Entrepreneur Immigration to Canada: How to Do it and Where to Go

Canada is one of the top choices for immigration amongst international entrepreneurs, and for good reason. In 2021, small businesses made up more than 98 percent of all employer businesses in Canada—that is a whole lot of entrepreneur-led companies. Between the country’s rapidly growing technology sectors and the government’s support for immigrant entrepreneurs, Canada is the place to grow innovative startup businesses into thriving companies.

But how do you start the process of moving to Canada? Where in Canada is the best place to live and grow your business? We have provided the building blocks to begin your journey as a successful business owner in Canada.

How do you immigrate to Canada as an Entrepreneur?

The Government of Canada offers a Start-Up Visa Program (“SUV”) for immigrant entrepreneurs, providing the opportunity to gain permanent residence in the country. The program is designed to attract entrepreneurs from around the globe to move to Canada to grow their innovative businesses, bringing diverse skills, job creation, and global competitiveness.

Basic eligibility requirements for SUV include having a qualifying business, a letter of support from a designated organization, sufficient and available funds, and entrepreneurs must be proficient in English or French.

Learning more about SUV’s program requirements and other details such as what is considered a qualifying business, the associated costs, and how to apply is a great way to begin planning for relocation.

Where is the best place in Canada for immigrant entrepreneurs?

Canada is the second largest country on Earth, with varying landscapes, cultures, industries, and cities across the nation. Every region of Canada has its own charm and advantages, but it is important to consider where you will most enjoy living and where your business will be most successful.

Living and Business Success in Canada: Rural vs. City

You may be familiar with Canada’s major cities such as Vancouver, Montreal, and Toronto, but the majority of Canada is made up of rural communities.

As an entrepreneur trying to grow a business in a new country, choosing a balance between rural and city is the best way to immerse yourself in life in Canada.

Living in a smaller, quieter town close to a large metropolis gives you the best of both worlds: You can enjoy idyllic lakes and landscapes, and belong to a tight-knit community while remaining a short drive from business opportunities that a large city can offer.

Building your business in a rural community also has the advantage of generally having fewer competitors, whereas in a large city it is likely that there will be many competing businesses offering similar products and services.

Peterborough and the Kawarthas: Ideal Community for Immigrant Entrepreneurs in Canada

In the province of Ontario, located a 1.5-hour drive east of Toronto and close to the U.S. border, is the region of Peterborough and the Kawarthas. Surrounded by hundreds of fresh lakes, rivers, and acres of farmland, the City of Peterborough is a thriving business community that is home to less than 100,000 residents.

Innovation Cluster Peterborough and the Kawarthas, a startup incubator designated to offer one of the only rural Startup Visa Programs for immigrant entrepreneurs in Canada, is located in downtown Peterborough along the bank of the beautiful Otonabee River.

Specializing in innovation and technology-driven companies, the Innovation Cluster’s STARTup Visa Program Canada provides business mentorship, knowledge, skills training, and networking opportunities to prepare international entrepreneurs for business success in Canada and the ability to compete on a global scale.

The Peterborough-based program sets entrepreneurs up for success beginning with a 3-month virtual accelerator program prior to arriving in Canada, followed by a 12-month in-person business incubation program.

The Innovation Cluster operates three cohorts of the STARTup Visa Program per year, with the next cohort beginning in October 2022. Apply today!

Operations

2022.07.28

Work Environment of an Entrepreneur: Why is it Important for Success?

Becoming a successful startup involves having core entrepreneurial skills such as passion, perseverance, leadership abilities, and financial management. These skills are certainly important for success, however, a work environment can also significantly impact a business. The work environment of an entrepreneur can either accelerate or hinder business growth, and focusing on what type of work environment will best support your startup, recognizing its benefits, and learning how to establish it can make a huge difference.

What elements make up a work environment?

A work environment is not created from one single element, nor can it be analyzed from one angle. It is made up of many elements in the workplace which typically fall into three main categories: physical environment, business culture, and working conditions.

Physical environment

The size, layout, location, facilities offered, furnishings, etc.

Business culture

The manner in which people work and interact with one another as well as the overall vibe or feeling. Business culture also includes company goals and values.

Working conditions

The employment terms for staff including compensation and working hours. It can also include the presence or absence of initiatives to encourage a healthy work environment.

What are different types of work environments?

According to Holland’s Theory, one of the most widely researched and applied theories of career development, there are six different types of work environments that correspond with six personality types. The six work environments are:

Realistic
Promotes physical activity and is best for “Doers” who often prefer using tools and working with their hands (i.e. engineering, construction).

Investigative
Built on critical thinking and problem-solving. People who are “Thinkers” thrive in this environment (i.e. healthcare, technology).

Artistic
Encourages innovation and personal expression, best for “Creators” who do well in flexible environments (i.e. design, fine art).

Social
Fosters communication and provides help between team members. “Healers” thrive in this work environment because they tend to have more empathy and compassion (i.e. social work, nursing).

Enterprising
Places an emphasis on supporting others to reach goals, an environment best for “Persuaders” who do well with selling, convincing, and debating (i.e. real estate, public service).

Conventional
A more traditional environment that attracts “Organizers” who enjoy order and practicality (i.e. finance, traditional offices).

What are the benefits of having a good work environment?

Depending on what type of business you are operating and what industry you are in, the type of work environment that will be best for your company and team to thrive in will vary from other businesses.

However, no matter which type is best for you and your business, there are common benefits to establishing and fostering a healthy work environment.

3 Major Benefits of Having a Good Work Environment:

Increases Morale

When your work environment properly supports you and your team, it boosts everyone’s morale reducing high tensions, stress, and promotes good mental health which is extremely important for entrepreneurs. Working every day amongst people who are generally happy, love their job, and are motivated and inspired is invaluable for your business.

Increases Productivity

Working in an environment that is unpleasant, without purpose, and generally chaotic is not conducive to productivity. When you establish an ideal environment it will naturally increase productivity as you will have the space, tools, and atmosphere to be motivated to accomplish more.

Attracts the Best Talent

As your business continues to grow, you will need to grow your team. One of the best ways to attract the best people is to have a great work environment that makes people want to work for you over other companies. As part of your recruitment process, you can highlight what sets you apart from other prospects they may be considering.

How do you begin establishing a good work environment as an entrepreneur?

As a startup business owner, especially in the beginning stages of your company, you most likely have limited resources to set up the ideal physical work environment that you have in your mind. Although the physical environment is only one aspect of a work environment, it can be difficult to have the business culture and working conditions that you want if you are operating out of an uninspiring space.

One of the best ways an entrepreneur can begin building a great work environment is to join a startup incubator.

Startup incubators are typically free to clients and offer a workspace that is designed to promote collaboration, productivity, and networking. This environment cannot be mirrored by a home setup or a small office; the entrepreneurial energy, support systems, and culture are unparalleled. Choosing to join a startup incubator will put your business on the right path to establishing its own unique work environment within the startup incubator space.

Startup Fundamentals

2022.07.21

Lifelong Learning: What it is and Why it’s Important for Entrepreneurs

Formal education (i.e. a university degree or college diploma) has long been considered what an individual needs to be successful. Although it is still certainly advantageous and necessary to do well in many industries, entrepreneurs have begun placing greater emphasis on lifelong learning, which was found to be the number one characteristic to achieve success as a small business owner in a 2021 study.

Technologies, tools, customer needs, and industry practices are constantly changing, sometimes on a monthly basis. To stay relevant and competitive in today’s business world, entrepreneurs must adopt a lifelong learning approach so their knowledge and skills continually evolve.

So what is lifelong learning? Why is it important and how do you do it? We have outlined everything you need to know so you can begin your journey.

What is lifelong learning?

Lifelong learning is the never-ending pursuit of knowledge that enhances personal growth and development. The term often refers to learning that takes place outside formal education settings such as a school or corporate training program, though these outlets are not necessarily excluded.

Lifelong learning as an entrepreneur helps you to grow your business, and build the essential entrepreneurial skills that help achieve business success.

Types of Lifelong Learning

There are many different types of lifelong learning which are essentially different motivations to pursue it. Some people are primarily driven by one motivator whereas others are driven by several. Main motivators include:

Curiosity – An eagerness and desire to be informed and gain knowledge.
Purpose – Wanting to learn information and skills to put into a particular practice including learning through first-hand experiences.
Social Improvement – Develop social skills, networking, teamwork abilities etc.
Self-Learning – Discovering your true strengths, weaknesses, purpose, and interests.

Why is lifelong learning important for entrepreneurs?

Humans are naturally driven to learn, grow and evolve, which is extremely easy to see in children. However, as adults, we sometimes need an extra push or encouragement to continue this healthy path of development.

As an entrepreneur, you want your business to be the best that it can be which means staying ahead of the curve and market trends, having the skills to adapt to business changes, and knowing how to lead your team efficiently and effectively.

Lifelong learning is important so you are remaining relevant amongst your customers and constantly improving so you have the capacity for growth.

Examples of lifelong learning

There are many examples of lifelong learning that can help you succeed as an entrepreneur which includes:

Developing new skills

Whether it is learning the art of public speaking, mastering how to use new technology, or you are training on how to become an effective business leader, constantly developing new skills will give you the tools to become a better business owner.

Researching new ideas and concepts

Self-initiating research through online searches, podcasts, news articles, and more is a great way to continually learn new ideas and spark creativity for your business.

Acquiring new knowledge

Expanding your knowledge on a variety of topics can bring different perspectives you had not previously considered, strengthening your ability to think outside the box.

Benefits of Lifelong Learning

Lifelong learning offers countless benefits not only for your business but for your own personal growth. Although at first lifelong learning can seem like another thing to add to your already long list of “to-dos”, the benefits you receive really do outweigh the effort put in.

New skills and knowledge gained

The most obvious benefit to lifelong learning is that it allows you to acquire new skills and knowledge on an ongoing basis. This alone comes with many other benefits such as improved business operations, personal growth, and overall fulfillment both professionally and personally.

Business growth

If you are continually learning and applying new skills to your business, there is a good chance you will experience business growth and an increase in revenue. Keeping informed about what your target audience is looking for and how you can meet their needs better than your competitors, is just one example of how lifelong learning can yield positive results for your business.

Refreshes your mindset

As an entrepreneur, sometimes it is easy to get caught up in day-to-day tasks. By introducing a commitment to lifelong learning, you will find yourself becoming motivated to seek out ways to learn new information throughout your day, even if what you learn seems small. Slowly, this will create a refreshed mindset so you do not feel bogged down by some of the daily tasks that come with owning and operating a small business.

Places a larger focus on what matters most

Every entrepreneur is goal-driven. If they weren’t, great business ideas would still be concepts and would not be transformed into businesses.

However, when trying to get your business off the ground, especially in the beginning stages, the bigger picture goals you had set for yourself and your business can become foggy as you are often more concerned with daily urgencies and troubleshooting.

Lifelong learning has the ability to make you want to find opportunities to seek out new skills and ideas that will evolve and grow your business and reach your ultimate goals.

Enhances and improves upon existing skills

One of the greatest benefits of lifelong learning is it’s not always about acquiring brand new skills or knowledge. It is just as beneficial to build upon existing skills that are valuable to have both personally and professionally.

For example, as an entrepreneur, you already have gained skills in problem-solving, critical thinking, leadership, brainstorming, and more, but these are the skills that can always be finessed and improved.

As your business grows, so should your skills as you will take on greater responsibilities, manage a larger team, and come across new situations.

Improves self-confidence

As you become more knowledgeable and skilled, you will naturally gain greater confidence in your abilities to take on the next big project or achieve bigger goals.

Perhaps at the beginning of your entrepreneurial journey, you were unsure about how to market your company, create a startup budget, or how to effectively participate in networking events, but after introducing lifelong learning you have not only acquired a pile of knowledge in these areas but you are confident in applying them in your business.

Gain a new qualification

Most often when lifelong learning is referred to, it is informal learning that is being referenced such as outside of a school or training course. However, this does not mean that these elements can not be a part of your overall learning journey.

There are many online and in-person training programs or certification courses that can really enhance your understanding of a particular subject. Once completed, you can add a new qualification or certification to your credentials as a business owner.

Tips for Lifelong Learning

1. Stay motivated

Lifelong learning is self-initiated, ongoing, with no real parameters. Therefore, it requires a great deal of motivation to make it a priority or it will always fall to the backburner. A tip is to set incentives for yourself to keep yourself on track.

2. Make a list

Once you decide that you are going to adopt lifelong learning, it can be overwhelming when there is a world of possibilities waiting for you. To stay focused on learning what is most important for you and/or your business, it is helpful to make a list according to priority.

This list should not be static, allowing you to constantly add, remove, or change things you want to learn.

3. Add structure

Because there are no parameters for lifelong learning, adding some structure can be really beneficial. Examples of this are implementing a schedule (i.e. every morning you start your day with 30 minutes of learning) or a ritual (i.e. writing down a goal before you start your 30 minutes and then writing down what you actually learned when you are done).

Adding structure will naturally make you approach your learning more seriously, and you’ll be a lot more likely to stick with it.

4. Proactively seek opportunities

Lifelong learning opportunities are endless, but you sometimes need to find them. Some opportunities do just “come along” but mostly they come from proactively searching for what is out there for you to grasp. Keep your eyes out for upcoming classes at local community centres, reading groups, or webinars.

5. Don’t make excuses

An entrepreneur’s life is busy, therefore it can be easy to justify why you haven’t dedicated time to learning. By staying motivated, adding structure, and seeking opportunities as listed above, there should be no reason why you can’t make lifelong learning an active part of your routine.

How to become a lifelong learner

There is no right or wrong way how to become a lifelong learner. Every individual’s approach to lifelong learning is unique because their goals are different.

However, there are some common ways you can become one.

Develop a sense of constant curiosity.

It is easy to become blasé about many things in life. When you transform this into curiosity, you will see how this significantly impacts your creativity which can benefit your business.

Read more books that will benefit you personally and/or professionally.

Books are a great resource that in today’s technology-driven world are often left behind. Books offer an in-depth look at specific topics rather than grazing the surface.

Utilize technology

Let’s be honest, as an entrepreneur, you do not have time to read a full book on every subject you are interested in. This is where podcasts, documentaries, and YouTube channels are fantastic. It allows you to become introduced to a topic which can lead to researching further podcasts and videos or searching for articles or books on the topic if you want to learn more.

Podcasts are a convenient way to soak in knowledge when you are busy doing something else such as driving in your car, riding transit, working on minor tasks, or on-the-go running errands.

Invest in short training courses

Training courses can offer information and skills development that cannot be learned as effectively through books or technology.

Training courses can be found online or in-person and are often taught by an industry professional who not only provides knowledge on the subject matter, but a first-hand experience that is invaluable.

Keep an eye on the news and market trends

Staying in the know on what is happening locally, nationally, and around the world is not only good for your own personal knowledge but can impact your business. Getting into a routine of spending some time at the beginning or end of your day reading news headlines and what the market is doing will make you feel like you have your finger on the pulse.

Talk to mentors or other professionals that have more experience

Business mentors have walked in your shoes and have personally experienced the ups and downs of being an entrepreneur. The first-hand knowledge they can provide is better than any other resource for learning because they can answer specific questions and provide tailored advice on how to handle circumstances you are currently navigating.

Learn the benefits of having a startup business mentor, and why forming this type of relationship will not only greatly contribute to your lifelong learning, but help your business succeed.

Health for entrepreneurs

2022.07.13

What are the causes and effects of workaholism?

It is no secret that entrepreneurs are passionate about their business and are driven to succeed. This can lead to becoming consumed with your startup, especially in the early stages. But when do your drive and passion begin to border the line of workaholism? What does it truly mean to be a workaholic? There are several causes and effects of workaholism and it is important to understand what being a workaholic is, the signs to watch out for, and how it can be detrimental to your health and business success.

What is workaholism?

Most people view workaholism as working long hours and always wanting to be at work. Although this can certainly be a big indicator, this is not always the case.

Psychologist Wayne E. Oates coined the term workaholic in 1968, defining it as someone who has “an uncontrollable need to work incessantly.”

It is a misconception that working a lot automatically means you are a workaholic, and similarly that working a “normal” amount means you are good at maintaining work-life balance. The reality is someone who loves to work is not necessarily a workaholic, and someone who works less can be.

What is the difference between workaholism and working long hours?

Dr. Oates’ work shows that workaholism is not necessarily determined by the number of hours worked, but rather by the extent to which work controls and negatively impacts one’s life and health.

For example, Person A may work 70 hours a week, but is relaxed and mentally “switched off” when they are on personal time. By contrast, Person B works 40 hours per week, but in their personal time are constantly worried about deadlines and projects, obsessively checking their phone and email, and feel guilty when they are not working.

A study on workaholism analyzing more than 3,500 employees found that the number of work hours was not related to health issues, but workaholism was. Employees who worked long hours but did not obsess about work, reported fewer health complaints.

However, those found to be workaholics, regardless of working long hours or not, reported more health complaints and had increased Risk for Metabolic Syndrome (RMS). The same people reported a higher need for recovery and more sleep problems, emotional exhaustion, and depressive feelings.

What are the causes of workaholism?

There are many causes of workaholism, and they are commonly found in three categories:

1. Psychological

If a person is a perfectionist, overly needs their peers’ approval, tries to escape life’s stresses, or has emotional voids in their life, they may be more apt to develop workaholism.

But at the end of the day, your 200 emails will be there whether you take a break or not, and you will feel better and ready to tackle those emails after a well-deserved break.

2. Childhood

Having to take on adult responsibilities at a young age or growing up with workaholic parents can have a large effect later in life. In addition, if someone is taught as a child that acceptance is earned through performance, this can also shape how a person behaves in their professional life.

Take the time to reflect on how you are feeling at work, and how you are feeling throughout the day.

3. Lack of emotional or social outlets outside of work

When someone has a lack of emotional or social outlets outside of work whether, through extracurriculars, family, or friends, it can lead people to gradually become workaholics, pouring all of their time and energy into something that gives them a sense of belonging or purpose.

What are the signs and symptoms of workaholism?

After learning what workaholism actually is, you may be questioning if perhaps you have workaholic tendencies. There are some common signs and symptoms of workaholism that may indicate you are a workaholic.

Every job requires perfection, regardless of how exhausted and mentally drained you become trying to achieve it.
Your days are completely filled with work-related tasks with zero room for anything else.
Building and maintaining social connections and relationships outside of work is difficult.
Feel anxious when you consider doing something other than work and feel guilty if you do.
Ignoring physical needs like food, sleep, and taking breaks because it cuts into your time to get work done.
The majority of your self-worth, feeling of acceptance, and personal identity are wrapped up in work.

What are the effects of workaholism?

Ignoring signs and symptoms of workaholism can be dangerous as it can take a severe toll on a person’s mental, physical, work, and social/family health.

Here are lists of common effects of workaholism:

Mental Health

Obsessive thoughts
Impatience and Irritation
Stress and Burnout
Poor concentration
Emotional disengagement

Physical Health

Headaches
Fatigue
Exacerbation of chronic diseases
Stomach pain
Loss of appetite

Work Health

Lack of productivity
Difficulty working in teams
Rarely delegate
Decrease in creative thinking
Unpleasant to be around

Social/Family Health

Lose touch with friends
Family relationships impacted
The feeling of isolation and loneliness
Are no longer invited to social functions
Work trumps everything else

How do you overcome workaholism?

Some strategies to overcome workaholism include setting firm work boundaries, being intentional about rest, and evaluating if your workload needs to be adjusted.

As an entrepreneur, you are determined to grow your business and succeed, but take notice of your behaviours and habits as you immerse yourself in work. Make sure you are keeping yourself balanced, healthy, stress-free, and happy.

Above all, you should seek the advice of a doctor or mental health professional if you believe you are a workaholic or are beginning to show signs of becoming one. They can give you accurate information and help form a plan to help you overcome workaholism.

Startup Fundamentals

2022.07.07

How to Write a Good Elevator Pitch for Startups

When you’re trying to grow a startup business, entrepreneurs should do a lot of networking to drive brand awareness and connect with the right people. Whether you’re attending a formally organized networking event, an industry conference, or you strike up a conversation with someone in public, it is essential that every startup is ready to go with a well-executed elevator pitch. Having a good elevator pitch can mean the difference between attracting interest from an investor, landing a new client, or connecting with a startup mentor who can contribute significantly to your company’s success. So, what exactly should a good elevator pitch for startups look like?

We have included all the essentials so you are ready to create an elevator pitch that is memorable and effective.

What is an elevator pitch?

An elevator pitch is a concise yet powerful description of your idea, business, or product that can easily be verbalized in the time you would be on a short elevator ride – about 30 seconds or less.

In that half a minute, the person you are pitching to should clearly understand what it is you do but left feeling intrigued, curious, and wanting to learn more.

Nailing your pitch is what will separate you from others, and it will open up large opportunities for your business.

What is an example of an effective elevator pitch?

An example of an effective elevator pitch comes from Text Request, a small business specializing in texting software.

Your business relies on communication with clients, but calls, voicemails, and emails are less effective with people under 40. But almost all texts are read within three minutes. Text Request makes live two-way texting possible for your business with our easy-to-use dashboard. People can text you, too, and we can even use your current phone number in many cases. Other businesses use Text Request to increase leads, grow revenue, improve operations, and drive customer satisfaction, all because of the power to connect instantly.

Using Text Request’s pitch as an example, we will outline how to write an elevator pitch, what information should be included, tips to consider, and things to avoid.

How do you write an elevator pitch for startups?

Capturing a person’s attention in a short amount of time can be a challenge. That is why effective elevator pitches are packed with vital information about the business (without being overbearing).

An effective elevator pitch should include the following important information:

Who you are

Text Request

What you do

Makes live two-way texting possible for your business with our easy-to-use dashboard.

Why you do it

Business relies on communication with clients, but calls, voicemails, and emails are less effective with people under 40.

What makes your product standout

Businesses use Text Request to increase leads, grow revenue, improve operations, and drive customer satisfaction.

Who you serve

Businesses that rely on communication with its clients.

3 Tips for Writing an Elevator Pitch

1. Capture their attention.

Beginning with a question or strong statement that highlights the problem your business is solving is a great way to capture your audience’s attention.

Example: Your business relies on communication with clients, but calls, voicemails, and emails are less effective with people under 40. But almost all texts are read within three minutes.

2. The simpler, the better.

When an elevator pitch gets too technical and complicated, you will lose your audience. Remember, no one knows your business more than you do, and sometimes industry terms and concepts are not as widely known as you may think.

Example: Makes live two-way texting possible for your business with our easy-to-use dashboard.

3. Focus on an issue faced by your target audience.

What issues are they currently struggling with and how does your business solve their problems?

Example: Calls, voicemails, and emails are less effective with people under 40.

3 Mistakes to Avoid When Writing an Elevator Pitch

1. Don’t be a robot.

Having a well-prepared elevator pitch is essential, but you also don’t want to sound too rehearsed. There is a balance between being prepared and sounding like you have memorized your pitch word for word. Practice saying your pitch in a way that seems natural and will flow at networking events.

2. Don’t give too much away.

There is a difference between providing all of the important information about your business and revealing every little detail. You want to leave your listener wanting more.

3. Don’t be pushy.

An overly aggressive salesperson quickly makes people uncomfortable and uninterested. Your pitch should exude confidence, but do not make your audience feel pressured to invest or become a customer on the spot.

How can you improve your elevator pitch?

Improving your elevator pitch really comes down to one word – practice. It takes time to master a pitch. Do not feel discouraged if, in the beginning, you feel a bit shaky in your delivery — the more you do it, the more natural it will come to you.

The mentorship of a startup incubator can help you finesse your pitch, work out the kinks, and help you prepare to “go live” at upcoming networking events.

Startup Fundamentals

2022.06.29

10 Entrepreneurial Skills Every Startup Founder Should Have

The only difference between a great business idea and a great startup business is making the decision to go for it. This can feel like you are standing on the edge of a tall diving board debating whether to take the plunge. If you are contemplating jumping in the water, knowing what entrepreneurial skills are essential for success will help determine if you are ready to embark on this new journey.

Why are entrepreneurial skills so important?

When you first transition from working for a larger organization to becoming a startup business owner, you experience a lot of exciting, new freedoms. What is also new is no longer having a full team of people with interdisciplinary skills to accomplish projects and reach goals.

Acquiring essential entrepreneurial skills will prepare you for the road ahead, especially in the beginning stages. When starting out, you truly are a jack or jill of all trades.

What are the essential entrepreneurial skills for success?

1. Perseverance

Every startup will experience some form of roadblock, rejection, mistakes, failure, and slow progress. These experiences do not determine the fate of your business, but how you react and deal with them can. The ability to persevere through harder times with resilience, optimism, and determination is arguably the most important skill to have as an entrepreneur, and it will ensure that you can keep your eye on growing your business no matter what scenario is thrown your way.

2. People Skills

It does not matter what type of business you will have or what industry or sector you will be in – well-developed people skills will always be critical for success.

Whether you are working with a team, corresponding with customers, or acquiring investors, knowing how to properly and effectively communicate and work with people will prove to be an essential part of running your business.

3. Passion

If you do not strongly love and believe in your startup’s product, service, or purpose, you will not have the same drive to reach success.

Passion is the only essential skill that cannot be taught, and it is a key ingredient that will not only help lead to success, but it will make your startup journey so much more enjoyable.

When we refer to passion, we are not saying you need to be head over heels with your business every minute of every day. In fact, there will probably be weeks where you feel deflated. What is important is that overall you have a huge desire to turn your once great idea into a viable business.

4. Communication

Learning how to communicate clearly, effectively, and creatively is what will set you apart as a brand or the next big investment opportunity.

As a startup, networking is a large part of growing a business and forming important connections, but if you do not know how to communicate what sets your brand apart from the competition and why there is a need for your product in the market, you will find it very difficult to win over new customers, investors, and potential new hires.

5. Time Management

This skill cannot be emphasized enough. Learning how to effectively manage your time will keep you working toward your goals and not becoming easily swallowed up by day-to-day operations.

Time management can be a tricky skill to master when it feels like you have a million things to do, but it will provide you with work-life balance which will lead to you being happier, more focused, and rejuvenated to give your best ideas and efforts toward your business.

6. Sales

Sales never end as an entrepreneur. You are constantly selling yourself and your business to everyone you meet whether it is a formal networking event, investor pitch, or you strike up a conversation with someone in public.

As a startup business owner, you are the first salesperson at your company, and you must acquire sales skills to initially get your business off the ground.

7. Ability to Learn

Entrepreneurs are constantly learning. You may have advanced technical expertise, but do you have any experience with marketing or accounting?

When you are first starting out, you will need to embrace the idea of lifelong learning and being open to trying your hand at many new skills to run your business.

Once you reach a certain level of success, you will be able to recruit team members with skill sets and expertise that will be an asset to your startup’s growth. Even once your company has added many team members, you will constantly run into new concepts and things to learn to lead your business in the right direction.

8. Teamwork and Leadership

The skill of working well in a team and leadership are typically referenced separately. However, with entrepreneurship, we feel these two skills are so closely linked that they should be placed together.

At a large corporation, there is a substantial division between team members (employees) and leadership (management). At a newly-formed startup business, teamwork exists daily between business owners and their employees as there are very few people to accomplish many goals.

Strong leadership skills are essential at any stage of growth but don’t forget that having strong teamwork in place will not only make you a better leader, but it will form a healthy work environment that will be most effective at achieving your goals.

9. Critical Thinking

Critical thinking skills are synonymous with entrepreneurial skills – they are required to develop business strategy, problem solve, rethink the effectiveness of projects, and look at situations from varying perspectives.

Critical thinking skills are also necessary for strategic planning and knowing when change should occur to improve your business.

10. Finance Management

Having financial skills does not mean you need to be an accountant. Financial management in this context means that you know how to create a startup budget and understand startup business taxes.

When it comes down to it, if an entrepreneur has many great skills but does not have any in the department of finance management, the business will be in trouble.

How do you develop entrepreneurial skills?

After reading our list of essential skills, you may realize that there are a few that you may need to work on. Not to worry! It is rare that someone has all of the necessary skills when launching a business.

Here are 5 recommended ways to refine your entrepreneurial skills:

Network with other entrepreneurs and industry professionals

Learn what your peers and industry professionals are doing. This can provide great insights!

Find a startup mentor

A fantastic way to develop the skills you need is to connect with a startup mentor.

Learn from a variety of sources

There are many books, articles, webinars, Ted Talks, and magazines that are rich in reliable and educational information. You may also consider registering for a course.

Attend industry or skill-based events

Find out about upcoming conferences, seminars, or online events that can refine your knowledge and skills.

Research the benefits of joining a startup incubator

Startup incubators are great organizations that help entrepreneurs develop a wide range of skills to help their businesses become successful.

How to use entrepreneurial skills to run your startup business?

When you begin running a business, you may have more advanced entrepreneurial skills than you think.

However, sometimes when you’re into the day-to-day operations of your startup, it can be easy for the essential skills to be forgotten.

Try to revisit this list of essential skills regularly and evaluate in which areas you are excelling and others where you could improve.

The key is to remember that no one is perfect, even seasoned entrepreneurs. The idea is to always practice these skills until they become natural in your daily routine.

Operations

2022.06.23

8 Productivity Hacks for Entrepreneurs to Be Successful

It feels great completing a project or task. You feel extremely accomplished like you are making real progress. But this moment is often followed by the realization that three more tasks now need to be done, and it feels like you are always taking one step forward and then three steps back. This feeling is common amongst entrepreneurs, but the key is to learn how to best allocate your time. To help you stay focused and keep your eye on what’s important, we are sharing 8 productivity hacks for entrepreneurs that will help you be more efficient and successful.

How can entrepreneurs increase productivity?

1. Stop creating to-do lists.

First things first, cancel the idea of to-do lists. You may think they help you stay on track, but they actually just end up making you feel more overwhelmed. We suggest taking your current to-do list and transitioning it onto a calendar.

Begin with one project. Estimate how long it will take you to complete it from start to finish. Then place the project on your calendar, working back from when it needs to be finalized.

If the project will require multiple days, weeks, or even months, schedule time each day to work on it. This will keep you on track, not overwhelmed, and meet your target deadline.

2. Multitasking accomplishes less, not more.

Startup business owners always have a lot on their minds and several projects on the go. As much it may seem that juggling multiple tasks is getting more accomplished, the opposite is true.

Multitasking disrupts your attention and thought process. As a result, you are giving subpar effort to multiple projects rather than exceptional work to one.

Schedule projects on your calendar (as outlined in # 1) so you can give your full attention to one project at a time.

3. Delegating is easier than you think.

Passing the baton to others can be scary. After all, as a startup owner, your business is your baby. However, your company cannot continue to grow when you try to do everything on your own.

Consider if you are ready to hire more team members that can help lighten your load. Hiring team members as a startup opens up a great opportunity to add new skill sets to your company, and you can acquire people who have expertise in areas that you don’t necessarily have.

4. Urgent tasks should not always come first.

Does this one come as a surprise? The truth is, many of us stress or panic when a job is labelled as ‘urgent’ by a client or team member. But urgent does not always mean it should become YOUR highest priority. It is all about balance.

It is of course important to deliver high-quality customer service and work well in a team, but sometimes dropping something important you need to work on is not productive for the company.

5. The word ‘No’ should be a staple in your vocabulary.

‘No’ is a difficult word for many people to spit out, but using it when necessary can be the difference between you being productive and not.

Often startup owners are pulled in many different directions, and their time is being demanded by too many people all at once. In these situations, the word ‘no’ is necessary so you can stay focused on your goals and what will truly make a difference toward your business’ success.

6. Schedule time for emails and messages.

As you are scheduling projects and tasks in your calendar, also schedule daily time slots for you to check and respond to emails, social media messages, or other platforms that may be important for your business.

We suggest scheduling 3 short time slots daily, approximately 10-20 minutes each, keeping strict to your time slot as it is easy to get sucked in by emails. Proper email management is something that can be a game-changer for your productivity.

7. Being detail-oriented can be a major con.

Being described as a detail-oriented person is commonly viewed as being a positive quality, and it certainly can be. But being extremely detailed can also lead to productivity issues.

When you begin tackling a task or project, consider how important it is to your overall business goals. This will guide you on how much time you should spend on it. Remember, it is ok for things to not be perfect, especially the more minor things.

8. Taking care of your mental health always benefits your business.

Simply put, if your mental health begins to suffer, so will your business. Maintaining good mental health is so important as an entrepreneur. Make sure you take time for yourself, exercise, and eat well, all of which contribute to your overall mental well-being.

Contrary to what some people may think, working longer hours does not actually make you more productive – but having a good work-life balance will. When you prioritize time for family, hobbies, and self-care, it actually will make you happier and more focused. This leads to a higher quality of work and allows you to come back to work with fresh ideas and new perspectives.

Lastly, getting at least 7-8 hours of sleep per day is a game-changer not only for productivity but for your physical and mental health. You may think working until 2 am is getting a lot accomplished, but if you need to be up by 6:00 am for your busy day ahead, your late night is not doing you any favours.

Embracing these productivity hacks will not only make your life easier, but it will set you up to grow your startup business more efficiently and quickly!

Recruitment

2022.06.16

Best Recruitment Process for Startups: 7 Dos and Don’ts to Hire a Strong Team

In the beginning stages of launching and operating a startup business, commonly startup founder(s) are doing it all; product development, attracting investors, sales, marketing, bookkeeping, and everything in between. However, when your startup reaches a certain level of success, hiring is essential to continue your growth as it will become impossible to do everything on your own. We have compiled the top dos and don’ts to follow that create the best recruitment process for startups.

What are the challenges of the recruitment process for startups?

Hiring as a startup comes with its own unique set of challenges such as budget limitations and difficulties attracting the right people. When your desirable candidates are considering all of their job options, they will weigh the differences between working for a startup and working for a more established business.

A few notable differences could be:

Modest Compensation vs. Competitive Compensation
Continual Change vs. Steady Routine
Unpredictable Projects vs. Structured Job Responsibilities
Feeling Worried About Job Security vs. Comfortable
Unorthodox Working Hours vs. Standard Working Hours

What is the best hiring process for a startup?

If you have prior experience working for a large company, your idea of how the hiring process works most likely begins with a standard online job posting, an advertised list of sought-after skills and qualifications, followed by a traditional interview process that is primarily facilitated by an HR department.

Due to the differences between startups and larger businesses, you must approach the hiring process more creatively and from a different angle.

7 Dos and Don’ts When Hiring as a Startup Business

To ensure you attract people that are a good fit for your business and will be instrumental in helping you achieve growth and success, there are some dos (and supporting don’ts) when preparing for and carrying out your recruitment process.

1. Build an attractive company.

Did you know that 56% of employees want to contribute more to society? Carefully craft your mission, vision, and values to reflect what your company stands for.

Don’t: Speed through this process. Establishing your ‘Brand DNA’ is at the foundation of everything you do, and job seekers are looking to work for a company that has a clearly defined purpose.

2. Create a standout online presence.

Think outside-the-box on how you can set your company apart. When you come across as truly innovative, you will appeal to people who are seeking to work in that type of environment. As a startup, there are low-cost marketing strategies you can follow that will give you the online presence you are aiming for.

Don’t: Underestimate the power of authenticity. There are many flashy websites and social media profiles out there, but do they accurately and genuinely represent the brand? Make sure your online presence is an extension of your startup.

3. Consider alternative platforms.

Research what platforms other startups in your region are using to build their teams. Often startups find talent in places other than popular job boards.

Don’t: Follow a generic job posting format. There will be nothing that sets your startup apart.

4. Highlight what your business can offer that others can’t.

One of the beautiful advantages of a startup is it can offer a unique work experience and benefits. Think deeply about what you can offer and what sets you apart from an employee’s perspective.

Don’t: Lead with compensation. There is no denying that it is very important, but chances are the compensation you can offer will not outdo larger businesses. Lead with the other benefits you can offer.

5. Approach Hiring as a Mutual Partnership

Many job seekers feel it is taking a large risk to work for a startup business. For this reason, you should approach the hiring process as a mutual partnership. What they offer you needs to equally match what you can offer them. Be open to collaboration and negotiation with interested parties to ensure both of you are equally happy and excited to work with one another.

Don’t: Focus all messaging on what you are looking for in a candidate. Focus equally on how your startup can help achieve their goals.

6. Let candidates’ skills and experience help craft new opportunities.

You may not have originally considered including a certain project or skill in your new position, but if the right candidate comes along with valuable ideas and suggestions, staying open can lead to amazing opportunities.

Don’t: Base hiring decisions solely on years of experience or academic qualifications. This is not to say these details can’t factor into your hiring process, but isn’t it true that some of the best entrepreneurial minds have taken the road less travelled? Non-traditional candidates can often end up being an asset to your team.

7. Attitude and outlook count for a lot.

You can teach an employee new skills, you can’t teach them personality or characteristics. Keep an eye out for people who are positive, driven, determined, self-reliant, and love learning new things.

Don’t: Form opinions of people off a formal interaction. Traditional first interviews can be stiff and not bring out an interviewee’s true colours. Because you are a startup, you will be working closely together. Try meeting for coffee for an informal discussion to get to know the person. This can set a more relaxed and natural environment.

Beginning preparations and planning to hire a new team member is often a brand new process for new startup business owners. It may seem overwhelming and you want to make sure you are doing things correctly.

Joining a startup incubator is a fantastic way to receive support, knowledge, and guidance through the hiring process along with countless other elements that you will need to learn as a startup business owner.