Canadian Small Business Women

Connection, Synergy, Community

Relationships, Reciprocity and Referrals

Sheralyn

I was having a great chat the other day with the founder of Canadian Small Business Women.  I hope she doesn’t mind me sharing this story.  The chat meandered from topic to topic but was memorable because as I thanked her taking time from her busy schedule to meet with me we both commented on the value of investing in developing relationships, even those that appear to have no immediate benefit.  Dwania and I met at an event I covered for the local paper but I instantly recognized in her a passion for what she does and knew I wanted to get to know her better. Lucky for me she agreed and we’ve been developing our connection ever since.  In doing so, the mutual benefits are becoming more evident each time we meet.  I also shared with her my experiences with forward thinking coach and mentor Tammy Elliott, who continually reminds her Forum participants to reach out and build relationships with others.  Throw into the mix my personal mantra of reciprocity and the theory of the “Three R’s” began to take shape. Recently, I wrote about another set of “R’s” but this conversation prompted me to blog about “R’s” again only this time they are:  “Relationships, Reciprocity and Referrals.”  We’re all familiar with the business cycle but the “Three R’s” are a business circle, one that can only benefit and enhance your bottom line.

Why practice the “Three R’s” in your business? Well, in any relationship whether personal or professional, I would suggest building relationships is equally challenging and important.  Choosing to invest your time, energy and (in business, often your hard earned cash) with a particular business and the people who run it can be a decision fraught with anxiety.  You’re relying on this relationship to provide a service for you, whether its supplying you with a website, tiling your kitchen floor or providing all the accounting services for your rapidly growing new business.  Whatever the case is, the relationship you develop with the provider is crucial.  Are they open, friendly and responsive to your needs?  Are they respectful, consistent and reliable? More importantly would you want to do business with them again? If you wish to be the recipient of this kind of service you have to govern your own actions accordingly and work hard to develop relationships where such expectations are mutual. If this is your guiding mantra, relationships will develop naturally and referrals and reciprocity will certainly follow.  Even if you met at a networking group and your businesses seem disparate and unrelated I would urge you to take the time to build a relationship. It’s amazing when you work at a conversation how small the world becomes and how often (think 6 degrees of separation) you will discover mutual connections.  Building one relationship often in turn has far reaching effects on existing ones.  Before you know it you have a circle of connections from which everyone potentially benefits.

Building solid relationships in turn leads to the “Second R” – Reciprocity.  Reciprocity simply means returning a favour.  It could mean trading services, providing something either in value or in kind.  All major world religions cover the concept of reciprocity in one form or another – it’s basically the “do unto others as you would have done to you” scenario.  If, as previously stated, you’ve developed great relationships and nurtured them along the way, reciprocity too becomes second nature and a part of your overall best business practices.

Which brings us to referrals.  Why is this the “Third R?”  Again, it comes back to this:  when you are building relationships and engaging in the spirit and practice of reciprocity, then the next natural outcome would be for you (and those you do business with) to act as a mutual referral source for one another.  Getting to know another individual, understanding their business and how they conduct themselves increases the likelihood that even if you can’t utilize the service they provide, you are comfortable acting as a referral source for them and their business.  You may not be their ideal customer but perhaps you know someone who is and because you have taken the time to foster a relationship you are confidant referring others and they in turn are comfortable referring you.  Perhaps it seems counter-intuitive but in helping others to succeed so too will you.  In practicing the “Three R’s” theory you are nurturing and developing a business circle based on trust, understanding and mutual support that will only enhance the bottom line of your business. (Did you notice that?  This blog also has come full circle!)

As Owner and Principal partner of “Writing Right For You” Sheralyn is a Communications Strategist – working together with entrepreneurs to maximize profit through effective use of the written word. Looking for web content that works, blog articles that engage or communications strategies that help you get noticed?  Contact Sheralyn today. Sheralyn is also the mother of two children now entering the “terrible and terrific teens” and spends her free time volunteering for several non-profit organizations.

Sheralyn Roman B.A., B.Ed.

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Networks, Peers, and Mentorship

Martina New

As small business owners and solopreneurs, most of us seek out some form of business network. Whether for the purpose of marketing our business or to practice our elevator pitch, it is important to be part of a group that is external to our business.

Such connection may be downright essential for some. Being the one in charge of our business and handling all aspects of it can, at times, be overwhelming and isolating. Where is that sounding-board when you need one? Who provides the voice of reason when you are stuck in some way?

I recently learned more about some of the differences between a network and a peer group and their distinct advantages.

The Merriam-Webster dictionary says:

  • A Network is a usually informally interconnected group or association of persons
  • A Peer is one that is of equal standing with another: especially one belonging to the same societal group
  • A Mentor (or business coach) is someone who teaches or gives help and advice to a less experienced [and often younger] person

Here in Toronto, business networking groups abound and can be found, often bleary eyed, over early morning breakfasts or occasionally later in the day in cafés and restaurants. Typically meeting weekly or biweekly, their main goal is to provide one another with referrals for potential or actual business. Casual conversation before or after the formal meeting part allows little time to get to know each other’s businesses in much depth.

A peer group, on the other hand, usually meets less often, maybe only monthly. Here, business referrals take place more incidentally with the main focus being discussing business challenges. The group will brainstorm ideas on how to solve someone’s particular business issue. Peer groups can hence provide that missing sounding-board for solo business owners, where challenges can be reviewed, dissected, and step-by-step solutions be offered without having to hire a personal business coach. Like the latter though, it provides a platform for accountability.

A specific structure for peer groups is described in a book and method by Elizabeth Verwey, called The Mentors Circle. In a recent Lunch & Learn seminar, she shared how her background as business coach and desire to enable others to coach and mentor one another lead to her formulating this method and book.

A Mentors Circle is a peer group who meets once a month for two to three hours. A facilitator or leader guides the group through the steps and exercises laid out in the book. The group may review one or more case studies from attending business owners, and brainstorm together.

The difference to a networking or other peer group is that the group’s existence is, or at least can be finite, meaning they commit to just six months’ of meetings. This provides a start, middle, and end so that after completion of this time period members can choose either to stop or restart a new circle of meetings.

Finding an accountability buddy is also important. As Elizabeth says, the probability of completing a goal you set yourself is only 50% if you only plan how you are going to do it, and 95% if you commit to reporting back and make an appointment (or set a deadline by when you will do it). Fittingly, the “M” in Mentors Circle stands for motivation, “T” for testing new ideas, and “S” for support and success.

Your peers then, as well as the book and accompanying workbook, provide the mentorship aspects. While I enjoy and benefit from networking groups – bleary-eyed early mornings or not – I really like the sound of a guided and structured peer group. Now who will be my accountability buddy?

 

Sources:

Merriam-Webster online dictionary, www.merriam-webster.com/dictionary

The Mentors Circle, www.officementors.com

 

Martina Rowley is the founder and operator of Beach Business Hub – THE co-working space east of the Don Valley. She combined her passion and experience in the environmental sector with her community engagement side to create a local work environment where space and resources are shared. She fosters and facilitates collaboration, networking, and learning for and with small business owners and new start-ups.  Contact her at:http://www.beachbusinesshub.ca, on Facebook and on Twitter

What to do with all the naysayers

Jennifer J

You’ve decided to step out on your own and defy the status quo. Internally you feel the trepidation and you hear the voices in your head telling you that you are never going to succeed. What is worse, however, is then having to hear the voices of others saying “that sounds stupid”, “no way that will work” or “that sounds risky – are you sure?”.

It’s inevitable when you decide to take life into your own hands and do something that only a rare few have been able to achieve that you will face criticism. Unfortunately,‘naysayers’ are a fact of life. So what do you do with these naysayers?

The many self-help books you read today tell you to ignore those naysayers and to eliminate them from your life. Do not allow them to be a road block on the path you have chosen to take.  Whilst this is prudent advice and definitely something to consider when you do begin to hear the criticism; it is important to note that not all naysayers are out to see you fall.  What ifthe naysayer were a mentor? What if they were parents or close friends?

More often than not, entrepreneurs become so consumed with their ideas that it becomes extremely difficult to take a step back and analyse what they are doing with clear and honest eyes. It just may be the case that the naysayers were right, but you just couldn’t see it and chose to ignore them. If only you had listened you could have saved a lot of time, energy and money. So what is the balance?

To determine whether you should listen to a naysayer you must look to  what the source of the opinion is. How valid is the opinion of a person who has spent their lives working a 9-5 job for a pay check, with no courage to pursue their dreams; or worse yet, has no dreams? They have never entered the arena of entrepreneurship and never dirtied their hands with the risk, vulnerability or failure of starting a business. Worse yet, they have no experience or qualifications in the industry you are about to enter.  How valid should their opinion be? Remember, you are the gate keeper to what opinions you let in and what you disregard; and this type of naysayer needs to be disregarded!

But what if your mentor does not believe in your idea? Your mentor who has relevant knowledge and experience to give you an informed opinion.  I had previously begun a business venture in a new industry with little to no experience. I had started spending money to develop products and had invested a lot of my time. My enthusiasm for the idea had blinded me from the realities of the industry I wanted to enter. However,  I was fortunate enough to speak with an expert in the field who really shed light on how overcrowded the industry was and how much money it would take and how difficult it truly was to create a following in that sector. Based on this advice, I decided not to pursue my idea any further and am now very thankful for listening.

Not all naysayers are championing for you to fail.  Maybe it is necessary for you to take the advice of your mentor and quit. It may save you a lot of time, energy and money that you may waste 1, 5 or 10 years down the track when you realised your idea really wasn’t that great.

What if the naysayer was your parents or best friend? It is so important to understand why they are being naysayers. They come from a place of love, but this usually means finding a respectable 9-5 job so you have a reliable income and they can have peace of mind.

It’s really important to understand that before you decide to entertain the opinion of a naysayer you need to look at the source of the opinion. It is hard to have this mind shift. But I guarantee if you try, it will soon become a habit which inevitably will make your life easier as it will allow you to step back and  better assess your idea so that you may evaluate whether you want to proceed with it or not.

Jennifer Jampala is a budding entrepreneur, traveler and yogi. She is passionate about building businesses, relationships and experiences. 

Four tips for Success in the Global Workplace

Praveeni Perera

As technology makes our world a smaller place many businesses big and small are engaging in commerce across international borders. The definition of workplace has now expanded to include not just new cities or regions but the whole world, we are indeed witnessing life in the global workplace.

Conducting business on an international level isn’t always easy  as social norms, greetings and introductions and even time restraints differ across cultures. Here are my tips for success in the global workplace.

1. Have an open mind
Being open minded makes the transition from national to international easier as you will be more willing to learn about new countries, their customs, and the way they do business. Things may not always go as planned and tasks that used to be simple before may become more complicated and tedious. Obstacles be they cultural, financial or logistical will arise and you need to be able to think outside the box and get creative.

2. Welcome and embrace change
Making changes to the way you do business, approach projects, and even shake hands is inevitable when working in a global workplace. Change is never easy but being ready for the change and approaching it with a positive attitude certainly makes the transition run smoother. Don’t shy away or be afraid of changing the way you do business, different markets demand different approaches. Chances are you will have a completely different business model or approach for each new market you enter. Think of each new culture, country, or market as a creative outlet, an opportunity to do your job in the different way. The result or product is the same but the method is different.

3. Do your prep work
Preparation and research are essential when working on a global level. You need to be aware of the cultural and social norms of the countries you are doing business in.  There are many sources online that allow you do conduct a cultural comparison between countries. It’s a good idea to compare the country you live in with the countries you wish to enter or are looking to do business with.  The World Factbook is an online tool that provides comprehensive and detailed information about countries, however it focuses more on general information rather than cultural comparisons. To compare cultural differences, we recommend using the TheHofstede Center website as it allows you to compare and contrast cultures using 5 detailed dimensions.  In addition to cultural research you should attempt to learn a few basic words in the native language such as hello, thank you, and please.

4. Seek out local mentors
Locals are the best guides when it comes to learning about a new culture and market.  Seeking out a local professional who can help you learn about the business culture in your prospective market is a good idea, as you will be able to get a first hand account of what corporate life is like.  You can reach out to professionals in your field or similar fields through organizations advocating for trade between your home country and your perspective market. LinkedIn is also a good way of researching professionals in your field, however since these would be cold connections asking for mentorship is not recommended. You can also ask for guidance and information about perspective markets from their local embassies in your home base. Most embassies have trade commissioners that provide information on conducting business in their country.

For more informationand a hands on training in doing business on an international level check out our next workshop Success in the Global Workplace this June in Ottawa. Registration is now open!

Praveeni Perera is the CEO and co-founder of Professional Edge Consulting a corporate training company based in Ottawa offering training and coaching services to clients around the world.  She can be reached via Website, Twitter, Facebook or her Blog.

The Mentor

Kerry George (1)

Several years ago I needed a mentor to continue in my educational path, so I approached a woman that I knew to be very skilled with many years of experience in my chosen career. She looked me over very shrewdly as she drank a cup of tea and then asked a piercing question, “Do you know what you are asking for dear?” She asked me to describe to her what I thought mentoring was and then she told me what mentoring meant for her. She laid out the ground rules and they were a standard that I have since come to live by. I knew from her instruction what a mentor was and how to follow a chosen mentor. I also learned how to become a mentor that would make a difference in the life of many.

What Is A Mentor?

A mentor is someone who has gone before you and who is willing to share insights on how to overcome during your own personal journey. A mentor is a friend that you trust and one whose advice you value. They are someone who you would follow. They are in life where you want to be and you can see that a relationship with them would help you get closer to your goals and save you from many pitfalls that you would certainly fall into on your own.

Selecting A Mentor

When you select a mentor you should be careful to pick someone who has similar values, so when they ask you to do something you are not continually questioning them. Often the mentor does not have a lot of spare time, and the act of mentoring implies that the one being mentored is there of their own free will having already made the decision to follow. A good mentor realizes that you have free will but as busy, successful people they may not be able to continually over-explain and sometimes one just needs to trust that the mentor has a deeper understanding of the situation and take their advisement.

The mentor that you select should be someone that you respect and admire. It should be someone that you want to listen to and that you aspire to be like. They are not going to be perfect people. Nobody is perfect. In time, you may discover weaknesses in their humanity and you will need to ask yourself if those weaknesses matter to your end goal. Are they things that you can live with? Are they irrelevant to their area of expertise? Or are they something that your own morals won’t allow you to overlook? If a mentoring relationship needs to be severed or adjusted it should be done so with the upmost of care. This is someone who took the time to sow into your life so you want to be honoring to them even if one must eventually take a different road.

How To Receive Mentorship

Successful people may be willing to sow into your life but not if they have to chase you. They are successful because they already know how to value their time. So they will usually require you to go where they go, and to do what they do so you can get a few minutes at a time with them before and after events. Volunteering to be part of their team can gain you the entrance that you need to get their time. Don’t take advantage of your mentor’s time. Respect that they are a professional in their field and that they are therefore in high demand. Others may pay them a lot of money for their counsel so if you are getting any of their time for free or for a small fee realize that this is a privilege.  Be on time when you meet them and try to fit your need for their time into their existing schedule as much as possible.

Don’t ask to borrow money or do anything that would affect the mutual trust that you have for each other. This is the last person you should ask to assist you in your drama. Your relationship should not be putting them into a position where they need to rescue you from your own bad management. A mentor is an advisor.

Value their advice and do what they tell you to do. In our democratic society many will take exception to this tidbit but here is the kicker, “Why do you want a mentor if you have no intention of listening to them?” Don’t waste their time with rebellion. If they are not worthy of being followed, then don’t ask them to mentor you in the first place. The whole idea is to accept the guidance of someone who can lead you to success faster than finding the way on your own. A mentor will save you time and money is mistakes that you will make. Learn from them and as you learn to follow you will also become a leader who is worthy of being followed. Someday you will be the mentor and you will be glad for the mentoring that you enjoyed along the way.

Kerry George is the owner of the Canadian Imperial Business Network which is currently the largest business network in Alberta and rapidly expanding across the country. She is a serial entrepreneur/author and speaker with a zest for life and a passion to help others succeed in increasing their potential and their bottom line. Kerry has several publications and blogs that you can follow and welcomes most interaction online.

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