The Edge, A Leader's Magazine | The Social

T he T r a n s i t ion I s s ue

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Financial Tips During a Crisis

THE SOCIAL

CTV’s Hit Daytime Talk Show hosted by Melissa Grelo, Cynthia Loyst, Marci Ien, Lainey Lui, Jess Allen

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Popular

Tech Trends

PINBALL CLEMONS CARLY FIORINA DAN AYKROYD KENNY ROGERS

Business Leaders

Who Jump to Politics The Future of

Education

COVID-19 IMPACT ON CANADA-US TRADE & RELATIONS

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OVERVIEW FALL/WINTER 2020

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EDITOR’S MESSAGE

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The Social

BUSINESS

24

Expanding Into New Markets

28

COVID-19 Impact on Canada-US Trade & Relations

Pinball Clemons

33

Carly Fiorina

36

Dan Aykroyd

38

Kenny Rogers

the EDGE Fall | Winter 2019

NERS’ CIR C L E

30

WIN

4

COVER STORY

OVERVIEW

FALL/WINTER 2020

MONEY & FINANCE 7 Tips to Manage Financially During a Crisis

40

9 Canadian Fintech Companies to Watch Out For!

43

STARTUP Impact Investments Could Help Your Business

46

Bloc Estate: Real Estate Reimagined

48

TECHNOLOGY The Future of Education

51

Popular Tech Trends to Improve Your Business

56

Roger Gordon: Green Energy Entrepreneur

58

LEADERSHIP When Business Leaders Make the Jump to Politics

60

Expert Advice on Being a Great Leader

64

Seth Mattison: The Luminary Entrepreneur

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Desjardins, Desjardins Insurance and related trademarks are trademarks of the Fédération des caisses Desjardins du Québec, used under licence.

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Fall/Winter 2020 Founder & Editor-in-Chief: Jennifer M. Williams President Curtis G. Ellis Coordinating Editor Carlie Doan Senior Editor Veruschka Mungroo

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Taxation

Recruitment & Staffing

Kanupriya Bhanot Shilpi Bhardwaj Monal Nandu

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Fall | Winter 2020 the EDGE

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editor's message

Charting a Post-Pandemic Course With so many changes in our lives resulting from the pandemic, there are undoubtedly new challenges ahead. They might involve re-opening business, re-launching, or simply adapting to shifts in our personal lives. It is also the time to take a hard look at how we lead, and how we handle chaos and crises, while we set the course for unprecedented transition.

The Edge Magazine may have had a familiar sudden adjustment experience to many.

We had been preparing to print our spring issue, when COVID-19 started to spread across Ontario. Without hesitation, we decided to put our publication on hold, including our summer issue. We quickly implemented available contingency plans, including working from home where possible.

At the same time, we remained mindful of how we interact with our clients and employees, to consistently maintain the lines of communication, and avoid the risk of letting our company culture fall apart.

While everyone has their own story, and the extent to which they are affected

by COVID-19, abrupt change can be frustrating and even traumatic. Surely, we’re already familiar with those who have been experiencing deep feelings of confusion, helplessness, hopelessness, and depression, among other overwhelming effects.

Despite the widespread loss of income, unresolved financial commitments, and mass social upheaval, there are numerous lessons that we can all learn from this. We cannot be cavalier and continue to do things as before; merely survive, or try to make ends meet without sustainable strategies. Predictably, this situation will require ongoing adjustments for a long time.

As such, a good suggestion is to identify some real benefits from this pandemic period. It sounds unbelievable, but it’s possible: prepare for future growth and development. As leaders, we must be vigilant, more focused, innovative and creative. Explore new and exciting business

opportunities – diversify - in order to generate more income.

Let change be one of your strongest allies, and know it can visit you at any time.

Retreating from difference is not an option, as there is no security inside our bubble.

Transition or adjustment in any form should not be a singular occurrence; it must be a continuous cycle, to avoid being knocked off-balance when we least expect it.

As always, thank you for your commitment and the trust you place in us. I look forward to our ongoing partnership, and the opportunity to be of service.

Tap into your hidden corporate talents and gifts. Engage in deep, uplifting, meaningful conversations, and meetings. Strive to offer improvements, whether it’s in daily interactions, communities, or business goals.

On an inter-personal relationships level, perhaps this is a reminder of much we’re all in this together, and how much we all need each other. It’s the perfect time to mend fences, build (or re-establish) relationships with family members, peers, employees, and clients.

We can all share some time and resources to elevate someone else’s life, or standard of living. It is incumbent on us to seek new ways to navigate together through this period of uncertainty.

Along those lines, it is fitting to talk about people who serve as role models to others.

In this issue of The Edge Magazine, we shine a spotlight on the hosts of CTV’s “The Social,” a much-admired daytime television talk show, since airing seven years ago. Its hosts are young, thriving, and inspiring entrepreneurs, who have excelled in establishing businesses and careers in sales, marketing, pop culture, fashion, publishing, and entertainment - across the economic spectrum. It was encouraging to hear their individual stories, and as I had anticipated, their responses were informative and delightful.

My hope is that you will be as uplifted as I was.

In-Service of Transition,

Jennifer M. Williams jennifer@theedgeleaders.com

“It is incumbent on us to seek new ways to navigate together through this period of uncertainty.”

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Photo credit – Photos courtesy of CTV

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POWERING THEIR WAY WITH FRESH PERSPECTIVES ON NEWS, POP CULTURE AND LIFESTYLE

by Jennifer M. Williams

Premiered in September of 2013, The Social is a popular Daytime Canadian Television Talk Show and socially interactive series, produced by Bell Media Studios and airs on CTV and CTV 2. The new season 8 which began on September 8, airs live every weekday at 1pm (2pm AT) .

The show's primary focus is to provide daily up-to-the-minute topics that resonate most with their audiences. They also include lively conversations and feedback on various social media platforms, such as Twitter, Facebook, Instagram, and LinkedIn, etc.

The show's success is due in part to the vast talent, leadership, and expertise that each host brings to the table. They took time from their hectic schedules to speak with The Edge, about their journeys as hosts, and entrepreneurs, and how they deal with transition and change.

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MELISSA GRELO

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The Social features a diverse cast of strong, opinionated women. How important is it to have a balance of different opinions, even if they might conflict?

Diversity comes in different forms: gender, race, age, life experience, and diversity of thought. Having different perspectives is the lifeblood of our show. Can you imagine how boring it would be if we all had the same views on any given topic? I wouldn’t watch that show! The fact that we don’t see eye to eye about certain topics, or have experienced one phenomenon very differently from one another, makes the show what it is. I will also add that how we communicate and share our different views, and yes, even resolve conflict, is a powerful thing to share with the country. In divisive times, we want viewers to know that you don’t always have to agree, but you should respect one another to be willing to listen to their opinions.

Being in the public eye, you sometimes face negativity from online harassers. How do you navigate the world of social media while maintaining a level head?

It’s been a learning curve, let me tell you! I was an early adopter of platforms like Twitter, Facebook, and Instagram. I began learning a long time ago that you can and will receive all sorts of feedback from being on air, being a public person. I have, sadly, developed a thick skin to most negative feedback, but have also learned to create healthy boundaries for myself and for those I engage with online. For example, I have a rule that I will debate ideas with anyone online, but the moment someone makes a personal attack on my character, looks, my family, the convo is done. I debate and defend ideas, not people’s characteristics.

Also, I only choose to read comments on some platforms, and not others, and log off the moment I feel any negativity getting to my soul. Luckily, I generally have a very positive experience online with fans and some have even become friends!

Along with Shayna Haddon, you run a children’s clothing line, marQ. Can you explain what you mean when you call the clothes “stereotype free”?

A society’s expectations for our girls and boys begins the moment they’re born. Don’t believe me? Just walk into a kids’ clothing store and an entire society’s values are distilled into slogans and designs of children’s clothing. In other words, we are either helping to uphold or to dismantle the status quo of gender roles in the clothes we choose to put on our children, when they are very young. In creating gender neutral clothes, marQ believes that a child’s spirit and soul can evolve freely without stereotypes like ‘Pretty like mommy, smart like daddy’ emblazoned across a child’s sweater. Stereotypes, like only boys like trucks and science, and the colour blue; or girls like princesses, the colour pink and only care about looking cute, are often reflected in clothing. These don’t reflect all children’s preferences, nor do they leave room for children who don’t identify with these typical roles at all. By creating unisex clothing, we are saying that a child can create their own reality, their own persona free of expectations, of what the world around them wants them to be.

Between their schedules at home, at work, and with friends and family, plus the schedules of their children at school, and their increasingly busy social calendars and extracurricular activities, just getting through the day is the biggest challenge.

In my house, we have a family activity board that lays out each person’s events and schedule for the week. Every Sunday, my husband and I work out who will cover what activities and make plans around days when either of us has to work early and/or late. We are sure to plan a minimum of one monthly date night, and ensure our daughter is spending adequate time with her extended family, especially her grandparents. We’ve also learned to say ‘no’ to a lot of invitations, preferring to focus on quality family time instead. Finally, we’re a big fan of routine! We eat breakfast and dinner together almost every night of the week and have the same morning and evening routine. Sameness equals saneness in our household.

What’s been the biggest transition in your life and how did you deal with it?

Having a baby was the biggest transition in my life, by far!

Nothing can prepare you for the complete upheaval a new baby brings. Essentially, it completely blows up the life you once had, and forces you to begin a new one, in the best way possible.

Of course, not without a lot of struggle, and yes, even some dark days. I was 37 when I had my daughter, so my life was in a groove, you could say.

My husband and I had a great routine, and ebb and flow to our daily lives, and we only had to take care of one another. After having a child, your relationships are tested, your patience is tested, and your relationship with yourself, your identity, your body, [and] your purpose are all tested. How did I get through it? You just go through it. If I would change anything, it would have been to be kinder with myself, and show mercy to myself during a naturally difficult time of change. I was too quick to want to return to my ‘previous life,’ to find myself again not realizing nothing was ever going to be the same as it once was.

Mourning the end of your previous life and opening your heart and mind to a new reality, was the most difficult, yet rewarding, part of having a child. //

Being so busy, how do you find an ideal work-life balance?

There’s no such thing as “balance” in my life, only juggling life’s day-to-day challenges. Ask many parents and they will tell you.

Photo credit – Photos courtesy of CTV

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CYNTHIA LOYST

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You appear on television, radio, and keynote speaking events, to talk about sex and relationships. How did you come to be the expert on such topics?

I was raised in a fairly conservative environment where no one talked much about sex. As a result, I grew up with a lot of questions, as well as a lot of confusion and guilt. Then, when my older sister became pregnant at 18, a light bulb went off in my head. I felt strongly that knowledge was the key to empowering young women to make safe and healthy sexual choices, so it became a mission of mine to learn as much as I could.

I first took a number of gender and women’s studies courses at university. Eventually I became a producer of an award-winning documentary series about human sexuality, SexTV, through which I was able to research and interview some of the brightest and most interesting minds related to sexuality around the world.

I won an award at the Society for the Scientific Study of Sexuality, for a film I wrote and directed, Losing It: Men, Women & the Myth of Virginity. More recently I studied with, and received a sex education certificate from, University of Michigan.

Can you tell us about your book, Find Your Pleasure: The Art of Living a More Joyful Life, and what can readers get out of it?

Find Your Pleasure: The Art of Living a More Joyful Life is a cookbook with recipes for life. It’s a deeply personal book, filled with stories and photographs from my life. This book is a culmination of my explorations: a treasure trove of where I found pleasure in the biggest and smallest of places, everywhere from the home to the heart, from the boardroom to the bedroom.

It is my hope that it empowers people to resist the notion that pleasure, and indulgence are inherently bad things, and inspires readers to be a part of their own pleasure revolutions.

What do you feel it is you offer to the show that’s unique?

In the history of daytime talk shows, I don’t think any other hosts have ever used the word vulva as much as I have. I use that word because it’s important, when we discuss anatomy, not to ignore the most pleasure filled parts of a woman’s body (which we do when we say “vagina”).

I also think that I bring a degree of empathy to all people probably even, at times, towards those who may not deserve it.

What’s been the biggest transition in your life, and how did you deal with it?

There are two: one was going from behind the scenes as a producer, to in front [of the camera]. I was deathly afraid and was absolutely awful when I started out. But, in spite of my fears and anxieties, I persisted: went to Toastmasters, took improv classes, and made a whole lot of mistakes. I’m so glad I stuck with it because the pain was worth it. It truly has brought a whole new dimension to my life.

Also, becoming a mother. Truth be told, I really wasn’t sure I wanted to be a parent. Growing up, I didn’t have much interest in kids, and loved my child-free life. But when I hit my 30s things slowly began to change, and I decided that I might regret it if I never even tried. We were lucky enough to get pregnant fairly quickly, and slowly I just kind of “leaned in” to the whole thing. I actually surprised myself at how much I have enjoyed becoming a mom. However, someone once described the feeling of becoming a parent is like putting your heart on the outside of your body, and that description is fairly accurate. It’s a hugely vulnerable feeling, but I think it connects us to other people in ways that we never imagined. //

Do you find that you do a good job following your own advice? How do your co-hosts at The Social respond to any relationship tips you might share with them?

When it comes to pleasure, I still have to remind myself to take my own advice, to prioritize it, carve out time for it and not feel guilty. I recently got back from a weeklong vacation, and I heard myself saying things like, “Oh I really indulged,” as if that was a terrible thing! I had to actively replace that narrative in my head with a new story: “No, it was a vacation – it’s okay to indulge!”

Regarding co-hosts and advice: I once did a segment about spicing up your sex life in long term relationships. I suggested that one thing you could do is meet up with your partner at a hotel lobby bar dressed in an entirely different kind of style than usual. Then act like strangers and flirt with each other. I won’t tell you which one of my co-hosts did this with her partner, but I will say that she said it was a lot of fun.

Photo credit – Photos courtesy of CTV

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MARCI IEN

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How has being on The Social changed your view on culture or the world?

I come from a news background. I’m used to interviewing others and sharing their stories. For the first time, professionally, I share mine on a daily basis. It is a big microphone and I don’t take it for granted. As a Black Canadian woman, I know that when I speak, I’m representing more views than just my own. I’ve learned that it takes courage to speak my truth and delve into topics and issues that are uncomfortable. Not everyone likes what I have to say. The world is a diverse place with diverse opinions. But that’s what our show is. Five women [who] aren’t afraid to speak out and speak up.

What are some important topics you would like to highlight on the show?

We have touched on Indigenous issues, but I’d like to delve deeper. Also, microaggressions and anti-Black racism. Both topics that don’t get enough airtime. Self-care is another. As women, we juggle so much, and we sometimes put ourselves at the end of a very long list.

What do you hope for your business?

We want to continue to learn and grow. Listening to our customers’ needs and wants are crucial as well. It’s the reason we incorporated comfy athletic shoes and slides into our collections after doing heels. Women told us they wanted both!

What’s been the biggest transition in your life and how did you deal with it?

When Canada AM ended in 2016 and I moved to The Social. It was a huge transition. I was open to change though and that was the key. I was ready. Also, four women (and an amazing crew and staff) welcomed me with open arms. They made it easier to share. If you watch the show, you see how I’m dealing with it on a daily basis. Pretty well, I’d say! My dad always says, “It’s always darkest before dawn.” The sun is definitely shining these days and I’m grateful. //

How’s your fashion line, IenLee, doing and what’s it like working with your friend, Diane Lee Clemons?

When Diane asked me to go into business with her, I didn’t take a moment before saying yes. I trust her implicitly. Trust is so important in a business relationship. We are also around the same age and really wanted to show other women that it’s never too late to start something new! We’re in our second year and have produced three collections that are available in our online shop: Sahara, Familia, and Italian. It’s hard work—but we love it. We also have a keen fashion sense, so it’s fun to research and design our shoes and accessories.

Photo credit – Photos courtesy of CTV

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LAINEY LUI

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You’ve always had an entrepreneurial spirit, which eventually led you to etalk and your blog, laineygossip.com. What tips do you have for women starting out on their entrepreneurial journey?

Everyone's entrepreneurial ambitions are different, and I don't think success, or getting there, is the same for each person. I think this is how female entrepreneurs are changing the landscape, because according to the old model, the word "entrepreneur" applied to men – and white men at that.

The fact that women have broken into and are continuing to push forward in business and industry, and creating space for themselves, is in itself a new path that has no precedent. And women are doing it in areas that not too long ago were not considered conventional business streams.

What’s one topic on The Social that you thought doesn’t get enough attention?

I'm always trying to work [South Korean boy band] BTS into any conversation on The Social. They're my obsession. The co-hosts, I think, are getting kind of sick of it. Which only makes me want to do it more. We can never have enough BTS.

How do you handle fear of the unknown in the industry?

It's undeniable that media is changing rapidly, and I find it as intimidating as the next person. That said, storytelling and the human need to tell stories, new stories, and to share and communicate will never go away. If you prioritize storytelling and make it possible for others to tell their stories, especially stories that have not been given the spotlight, this is a skill that will never age out. //

They're working from home; they're monetizing what used to be considered gendered tasks. In my case, I made a career out of blogging. No one had even heard of this 20 years ago. Women have been imaginative and resourceful - and, really, that's all you need at the beginning. Women can figure out for themselves what comes next.

How do you manage not being overwhelmed, given all the different jobs you have?

The truth is, I am overwhelmed. I don't ever want to pretend that my workload is easy, or that I can always keep up with it, because I can't. At least not without help. Being able to do all my jobs means that I don't contribute much at home, and I'm fortunate that my husband oversees all of the daily domestic responsibilities that are impossible for me. I also have colleagues who help me manage my schedule, and even then, I have to work in 5 to 10-minute multitasking blocks to be able to get it all done. So, it all comes down to strict time management and the downside to that is that I don't have much room for spontaneity.

These are things that I'll eventually have to address if I want to set and reach new goals.

Photo credit – Photos courtesy of CTV

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JESS ALLEN

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What key lesson have you learnt since you started on the show?

Blink, and there goes seven years.

You’re involved in a lot of projects including Jess Files, Foodies and The Beast, and My TV Dinner. Can you offer any insights on work life balance?

These are all former projects. Still, I don’t have any personal insights on work-life balance. But something Johann Wolfgang van Goethe wrote a million years ago has always stuck with me: “Most people toil during the greater part of their lives in order to live and the slender span of free time that remains worries them so much that they try by every means to get rid of it. ”Basically, if you can, don’t work to live and don’t live to work. And the good stuff often happens somewhere in between—when you least expect it.

How has your previous work experience helped The Social?

Do you use your background to navigate through some of the everyday challenges?

Maclean’s certainly helped me to find my voice, and with research, especially quick research. But the skills that were sharpened while working in the restaurant industry are probably the ones that still serve me best: Specifically, reading an audience and being able to adapt your own behaviour, speech, and actions to best suit and please that audience. Oh—and shucking oysters. One time on the show I got to do that. And let me tell you, I felt pretty pleased with myself. //

Do you have a personal mission statement?

I wonder if I’d be happier or more successful if I had a mission statement but I don’t think I’ve ever desired or sort of formal summary of my ambitions and aims. We’re lucky to squeeze in some love and a handful of beautiful experiences that become permanent memories in this little life. The rest is a bit of a mystery.

I’ve become (mostly) content in experiencing that mystery, rather than obsessing over finding the answers. Actually, maybe I do have a mission statement: “Anyone who claims to have the answers to it all is a charlatan.”

Photo credit – Photos courtesy of CTV

Fall | Winter 2020 the EDGE

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business

EXPA N D I N G INTO NEW MARKETS

E

by Sean Plummer

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the EDGE Fall | Winter 2020

xpansion is the goal of every successful business. At some point your company will reach its potential within its present market and you will have to look elsewhere to sell your products and services. That might mean finding a new neighbourhood, city, province, state, or country to conquer. But there are risks and challenges to any business expansion, especially when you’re operating in unfamiliar territory.

business

And Target’s venture into Canada was big, with the company announcing its $1.8 billion purchase of leases on 220 Zellers stores across Canada, in January 2011. It was a bold move initially praised by analysts and observers. It was only later, after the Canadian experiment was failing, that critics pointed out that many of the stores were in out-of-the-way places and didn’t look as appealing as their American counterparts. Making matters worse for potential customers was Target Canada’s seemingly unreasonably high prices, supply problems that kept store shelves empty, and the relative unavailability of popular brands found in Target stores in the US. Considerably more modest (but more enduring) has been Fresh Collective’s measured expansion across Toronto. Entrepreneur Laura-Jean Bernhardson started out selling her hand-made sweaters on consignment under the name Fresh Baked Goods in the 1990s. She eventually established her own store under that name in the city’s bohemian, tourist-friendly Kensington Market. Ambition drove her to open a second store in 2003, called Fresh Collective, on Toronto’s trendy Queen Street West.

There Bernhardson shared space with other local designers who sold their own products and worked directly with customers.

That concept evolved into a more traditional retail space in 2012. Fresh Baked Goods, meanwhile, fully rebranded as Fresh Collective in 2011.

Cultural differences and language barriers require reliable translators and fixers. Cunning competitors with established bonds to local suppliers and distributors can cripple even the best-financed marketing campaign. And jurisdictional challenges may see your legal team’s billable hours skyrocket.

So, is it worth taking a chance on doing business in an unfamiliar place? What are the best approaches for success? And if your new venture fails, will it jeopardize your core business? The answers differ greatly depending on the size of your company, its resources, your goals, and your tolerance for that aforementioned risk and challenge.

Bernhardson accumulated more debt than she intended with the Queen West store and felt burned out. But the itch to expand prompted her to open a third store, in the city’s west end, in 2011 because her brand’s core demographic of professional career women – or, as Bernhardson affectionately calls them, “grown-ass ladies” – were moving away from the city centre. She came to this conclusion through observation and data analysis conducted by a local real estate agent.

From the macro perspective, the spectacular flame-out in 2015 of American cheap-chic retailer Target in Canada serves as a cautionary tale to corporations thinking that success can be replicated in new markets without consideration of local conditions.

On the micro level, independent women’s fashion retailer Fresh Collective has seen steady growth over the last decade, with three locations in vastly different Toronto neighbourhoods, with (possibly) more to come. Both examples show that great risk can result in great reward... or great failure. To that end, here are a few strategies to keep in mind.

Know Your Location, Know Your Customer Target’s decision to expand into Canada did not seem unwise.

Many Canadians were already familiar with the brand through cross-border shopping and liked its reasonable prices and product selection, especially on clothing and housewares. And while rumours of Target’s Canadian ambitions had circulated since the early 2000s, the retailer waited out the 2008 recession until economic conditions were more favourable before proceeding.

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Know Your Competition Canada’s luxury market may have had room for competition, but Target entered a Canadian discount retail landscape already dominated by the likes of Walmart, Costco, Giant Tiger, and Sears – all large chains with established supplier relationships and, unlike Target Canada, fully-stocked shelves.

Walmart in particular was determined to not lose market share and engaged in a price war that Target found difficult to win.

Loblaws, meanwhile, launched the Joe Fresh clothing line, competing directly with Target on price and style.

Price and style were high on Bernhardson’s mind when she decided to relocate her Queen West store to Toronto’s Beaches neighbourhood, on Queen Street East. It was 2016 when she noticed Queen West “starting to slip.” Revenue was down, rent was up, and the store’s customers were primarily twenty -somethings rather than Bernhardson’s “grown-ass ladies.”

She finally settled on a “little fashion strip” frequented by style-conscious, working-age women on the other side of the city. She and her team introduced themselves to local store owners and made sure there wouldn’t be much product overlap with their new local competitors.

“That was something we ran into, that some of our strongest labels were already carried by the stores within a three- or four-block radius,” Bernhardson says. “And what will happen is that the supplier will actually protect that exclusivity. So there were certain brands that we couldn’t take over from our Queen West store. You don’t want to get into a battle of ‘it’s four dollars cheaper next door.’”

Know Your Limits Target’s play for Canadian retail dominance was ambitious but, in hindsight, presumptuous and overreaching. Bernhardson, meanwhile, has no immediate plans for more Fresh Collective locations, preferring to grow the company’s online store, but would open them in Toronto before venturing further afield.

“The thing that’s tricky is the flexibility we have to transfer product around in Toronto,” she says. “I think there could be a lot more Toronto stores we could open before we would be looking at too much further away. It also lets us build on a warm market. Even when we moved to The Beaches, we found we had a nice mix of people who knew us and people who were like, ‘I’ve never heard of you before.’ We hear from customers who live in North Toronto so I feel there is more room to expand within Toronto before dealing with the hassles of a store that was that much further away.” //

business

COVID-19 IMPACT ON

CANADA-US TRADE & RELATIONS

by Rob Shapiro

T

he world’s economy is based on international relations, ideally ones that provide nations with the aid and support that they need to endure the toughest of times.

Canada and the United States (US) have been neighbours, allies and key trading partners for a long time. It’s a relationship that—despite having faced some rocky moments in the past—has consistently remained diplomatically strong.

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COVID-19 has the potential to disrupt relations between these two partner nations, and any degree of fallout could be paradigm-shifting on a global scale.

As the dominoes continue to fall, it will be key to monitor how Canada and the US forge ahead with their business and economic relationship amid unprecedented challenges.

Importing and Exporting International trade is vital to Canada’s prosperity, driving (or impeding) growth and

greatly contributes to its gross domestic product (GDP). Furthermore, exporting goods to other nations keeps many industries productive and profitable.

There is also a trade balance between Canada and the US to consider. If one nation is importing more than it is exporting, then the deficit might grow and could result in more stringent tariffs or a sharp decrease in supply. Ultimately, this can stymie an economy and make COVID-19 recovery efforts more difficult.

business

Tariffs Recently, the US government imposed tariffs (essentially, a tax on imported or exported goods) on aluminum, which should eventually prompt a counter from the Canadian federal government. This will make certain products—many of which are necessary to produce everyday items—far more expensive.

This could hurt businesses that are already struggling to navigate the pandemic. If certain materials or items become more expensive, businesses will be faced with thinning margins or will be forced to make some tough decisions on how to afford rising costs.

The billions of dollars that Canada is threatening to levy on the US in tariffs could hurt Canadians more than the message they are trying to send. There is word that this could happen as early as this year after a series of consultations on what sectors and products to target.

Closed Border The border between Canada and the US should continue to be closed for discretionary travel, while still allowing most necessary commercial activity. For instance, all trucking between the two nations should continue for the time being with the only difference being greater restrictions and protocols in place, including more in-depth health questioning.

Border operations and security is one aspect of the relationship between Canada and the US that should be unaffected unless the bottom completely falls out.

Government Policies COVID-19 has forced countries to be more self-reliant but that hasn’t stopped Canada and the US from ensuring that trade continues to flow in both directions. This is good news for both economies, but the current relationship is somewhat tenuous.

Back in April, the US government enacted the Defense Production Act, which was initially conceived as part of war-time mobilization efforts. In 2020, it’s being used to slow the spread of the pandemic, hopefully, forcing it to reverse course by prioritizing the production of medical supplies.

This means that facilities that normally would not manufacture medical supplies are being required to do so until notified otherwise. This is the type of policy that could impact trade and business relations between these two countries as certain goods will not be as readily available.

Less supply or inflated prices on smaller inventories could cause a ripple effect to spread throughout North America.

The US Market Like most of the world, Canada is heavily reliant on importing goods from their neighbour. This includes but is not limited to metals, materials, vehicles and machinery that keep our businesses, factories, hospitals, stores and households running.

Additionally, the US regularly imports billions of dollars’ worth of products and materials from Canada. Regardless of the time it will take for the US to get COVID-19 under control, trading between these two neighbours needs to be productive, consistent and undisturbed.

“COVID-19 has the potential to disrupt relations between these two partner nations, and any degree of fallout could be paradigm-shifting on a global scale.”

New Possibilities It’s possible that the relationship between Canada and the US completely breaks down. While this would result in a wave of negative consequences, it could also open some interesting possibilities for Canada to strengthen other trade partnerships.

Trade needs to happen even during a pandemic. An unexpected result could be that Canada invests its efforts in forming relations with nations that were previously ignored because of the reliance of US imports.

How other nations deal with COVID-19 could also play a key role in Canada developing new diplomatic bonds. Time will tell what those bonds will ultimately mean.

COVID-19 Supplies Whatever happens nothing should impede the flow of medical supplies needed to combat COVID-19 and help frontline workers do their jobs and stay safe. There should be ample motivation for both sides to make sure no roadblocks to healthcare or safety emerge.

It would be unconscionable to use the threat of a public health crisis to strong-arm the other side to get what they want. This is where decades of support and positive relationship building needs to win out over anything else.

Going Forward A trade dispute between two allied countries is the last thing either country or the world needs right now. As Canada attempts to recover from the economic devastation of COVID-19 and as the US still grapples with its realities while approaching an election, resolution needs to be the priority.

Canadian businesses need to be put at the forefront, and not in the crosshairs of broken diplomacy. This is one situation that all Canadians and Americans must monitor. //

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PINBALL CLEMONS

W

by Dontei Wynter

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the EDGE Fall | Winter 2020

hen Torontonians think of the Toronto Argonauts, and the Canadian Football League in general, there’s no doubt that the first name that comes to mind is none other than Michael “Pinball” Clemons. More than just a Canadian football legend in his own right, Clemons has also become known for his many philanthropic endeavors. He’s the co-founder of The Michael Pinball Clemons Foundation, an organization devoted to helping and empowering Toronto’s at-risk youth through education. He isn’t just the face of the non-profit organization but an active member as well - choosing to volunteer personally with the community.

A few months ago, Clemons was officially named the new fulltime general manager of the Argos, a position for which he was approached previously but declined. For Clemons, it’s not about the money nor the need for a job—he has a job already that he loves. For him, joining the Argos family on the business side of things, is all about the love of the team and the need to improve performance.

The Edge had a chance to catch up with Clemons at one of his charities, Rally for Kids, to discuss his new gig and charitable goals.

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First of all, congratulations on being named the new general manager for the Argos! How does that feel?

“It’s time that we get to the solutions and begin to provide pathways for our young people to succeed.”

- Pinball Clemons

You know, it’s one of those things where you want to see your team doing well. So, I didn’t want to have this job, because my team’s not doing well, so we have to always put performance first. But we are starting to move into this and are certainly excited about the challenge. I would absolutely love to see my team doing well, (and) we’re going to definitely get there. Small steps (first)!

What’s your ultimate goal for the Rally for Kids?

Our ultimate goal is to raise funds for young people who are marginalized and who don’t have the same opportunities (as most of us), so we want to change this narrative. We don’t want to feel sorry for our youth, (but rather) we want to be proud of them, because they’re going on to post-secondary training - whether it be college, university, trades, or IT—whatever that might look like. And (ultimately) go into jobs that they desire and deserve. So that’s what our real goal here is - it’s to empower young people and not give them a handout but a hand up.

What do you think is one of the main obstacles facing youth in Toronto?

Well, I mean, there are multiple issues that face youth in Toronto.

It’s really not so much about ‘what are they facing?’ But rather ‘how do we get (them) to the next level?’ We spend so much time talking about the issues and the problems, that we don’t get to the solutions. It’s time that we create solutions and begin to provide pathways for our young people to succeed.

On the business side, can you explain your method, entrepreneurial spirit, and how you became a success?

For me, we [at the foundation] try not to brag about that stuff (our successes) God has blessed us with. We have worked hard and tried to be diligent in those things (our mission), but we have also been blessed and are grateful for that. And so, with regard to the successes we’ve had, it couldn’t have happen without God. Further to that, there are so many wonderful people who have been a part of our lives, who helped build (the organization), starting with our families. My mom was a single parent; and her parents and my wife’s parents didn’t have a whole lot but made a way for their eight kids. We have a story that is very organic, very grassroots that says - if you’re diligent, you keep moving, and keep working, you can make it (succeed).

Is that why you want to give back?

"That is a big part of it. The reason that we want to give back is because we’ve been there (fallen on hard times). //

Toronto Argonauts President Bill Manning (left) with General Manager Pinball Clemons (right) Photos courtesy of: Toronto Argonauts Football Club (Argonauts.ca)

Fall | Winter 2020 the EDGE

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Photos courtesy of Carly Fiorina

CARLY FIORINA

by Dave Gordon

B

eginning her career as a secretary at age 21, the now American businesswoman, multi-millionaire and political figure Carly Fiorina used her leadership and problem solving skills learnt in her earlier career to work up the ranks as the first female chief executive of a Fortune 50 company and a presidential candidate in the 2016 elections.

Within the span of about two decades her career spiraled from a secretary for a real estate company to become the first female chief executive of Hewlett-Packard, at age 44, in 1999, where Fortune magazine named her the most powerful woman in US business five years in a row, declaring "Carly Fiorina didn't just break the glass ceiling, she obliterated it".

She had entered the technology sector in 1980 when she joined US giant AT&T as a management trainee. In 10 years, she was the firm's first female vice president, and by 1995, a senior director at AT&T, spinoff Lucent Technologies.

Fiorina's success caught the attention of HP, looking for a reboot, after missing nine straight quarterly profit targets. She described the situation as “deteriorating profitability in every category, lagging in market share in every category but one.”

Under her leadership, revenue grew, innovation tripled, growth quadrupled, and HP became the 11th largest company in the US “It was a transformation of a great company. It happened because 80-plus thousand employees decided it needed to happen, and understood how to make it happen. So, we did,” she said.

“Much of what we accomplished during that transformation was actually about rediscovering and preserving who we really were.”

When the merger between HP and Compaq occurred in 2002, it was the biggest in the technology sector at the time, and created the world's largest seller of personal computers.

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In recent years, Fiorina has dedicated most of her time to her charity work. This includes being the chair of Good360, which helps companies give their surplus merchandise to various charities, and running Unlocking Potential, assisting heads of charities improve their leadership skills.

She was also Chairwoman of Opportunity International, an organization that lifts millions out of poverty around the globe through micro-finance. She also founded the One Woman Initiative in partnership with then Secretary of State Condoleezza Rice, to empower women in Pakistan, Egypt, India and the Philippines through increased access to economic opportunity.

Also, a bestselling author, her titles include Tough Choices, Rising to the Challenge, and her latest, Find Your Way.

Tell me about Find Your Way. One of the things I’ve learned "over again is that" people have more potential than they realize. So often, we get into our own way, or don’t tap into our own strengths.

I wrote it for young people. I think our culture is sending a lot of really confusing messages to young people. I think social media puts tremendous expectations on young people. Others' expectations get to be a heavy burden, and sometimes people can’t figure out how to make their own way under that burden.

I think our culture sends a lot of the wrong messages about what real leadership is. I think our culture lifts up the powerful, the rich, the famous, the outrageous, the controversial, the entertaining, and people with position and title. It’s natural that people say, ‘Oh, that must be leadership.’ In truth, none of those things are about leadership – although sometimes leaders have those things.

So, I wanted to talk to people about what the fundamentals of leadership are, and how the truth is every one of us can lead once we realize what true leadership is and that we have the capacity for leadership.

What, to you, differentiates a good leader from a great leader, from a manager?

Managers operate within the status quo. So, in the business sense, a manager would do a really good job of operating within existing competitive conditions, improving their market share with an existing product line. A leader changes constraints and conditions. A leader challenges the status quo. A leader creates a new product or changes the rules of the game.

is what I was brought to HP to do. I was brought to HP to solve a set of festering problems that had festered for a long time.

I learned how to work with people and solve problems. Over time, I came to learn that that is what leadership is all about – making things better by collaborating and leading others.

How did the employees feel about problem solving?

I purposely brought no one new in at the beginning. I did that for a very explicit reason, which was to send a very clear message to the organization that we could, and we would, figure out what the problem was, and we would fix it. It wasn’t about having the wrong people. It was about, perhaps, putting our energy on the wrong problem. Or, in HP’s case, getting too comfortable with the way things had been, for too long.

I believe that to successfully accomplish change, a leader does not mold others to their vision. A leader builds a vision that others share.

What advice would you give to budding entrepreneurs?

Now, the difference between a good leader and a great leader, I think, is all about the highest calling of a leader. I believe the highest calling of a leader – the purpose of a leader – is to change the order of things for the better. They have to solve problems. I think their highest calling is to unlock potential in others.

Courage. You have to take risks. You have to withstand criticism.

Courage isn’t the absence of fear, it’s getting through it.

What were the fundamental traits you credit to your success?

Collaboration. Don’t think you are going to do it all on your own.

You cannot collaborate unless you are humble and empathetic. If it looks like something really can’t get solved, there is something or someone you are missing.

I had no ambition to be a CEO. It seemed so out of reach. It never occurred to me. But, what I saw everywhere were problems.

Everyone knew what they were, but no one was taking them on.

The reason problems fester is that the status quo is powerful, and sometimes comfortable. So, what I did was solve problems. It

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“A leader does not mold others to their vision. A leader builds a vision that others share.”

the EDGE Fall | Winter 2020

Character. What keeps you going when the going gets tough – and the going always gets tough.

Finally, seeing possibilities. This can be better. We can solve this problem. //

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winners' circle

DAN AYKROYD

by Dave Gordon

A

s a much-loved Hollywood star, it’s fair to say that a great many movie fans will be relieved to know that Dan Aykroyd didn’t pursue his initial career plan to become a priest. Instead of following that path of spirituality, he pursued acting, for which he is best known for battling evil spirits in the 1984 box office smash Ghostbusters. In more recent years, Aykroyd has delved into the business of another kind of spirits – alcoholic drinks – selling both tequila and vodka.

His big break came in 1975 when, aged 22, he was appointed to the writing team of then-new comedy sketch show Saturday Night Live, and soon became one of the cast members, where he remained for four seasons.

Film work then followed, and in 1980 he had his first major hit starring in The Blues Brothers, for which he also co-wrote the screenplay. The movie remains a much-beloved comedy classic, and Aykroyd still occasionally tours with the "The Blues Brothers Band", singing as his character from the film – Elwood Blues.

Ghostbusters arrived four years later, which he again co-wrote, and was nominated for an Academy Award for best supporting role for 1989's Driving Miss Daisy. Other film highlights include Trading Places, Spies Like Us, Antz, and My Girl.

The move into the alcohol industry came in 2005, when Aykroyd set up a company to import Patron Tequila into Canada. Two years later he launched his pride and joy – made-in-Newfoundland –Crystal Head Vodka. Dissatisfied with the existing vodkas available, which he claims contain additives, oils and artificial flavours, he decided to create a pure version for the market. The unmistakable bottle – a glass skull – was a “mystic indigenous element.” To date 13 million-plus units have sold, it’s distributed across 70 countries, and has won 11 gold medals, including the Prodexpo in Moscow.

Meanwhile, back to battling spirits, the fourth installment of the slime-fighting franchise, Ghostbusters: Afterlife, is due to be released in theatres next year in March, 2021.

Photo credits: Amanda Nikolic, courtesy of Crystal Head Vodka

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What have you discovered about the business world?

Any business advice you’d offer?

The moment I entered the acting trade I was in ‘show business’, and I had to market and broker deals for myself. Any actor who goes into the business has to work with a broker or agent who establishes one value and make a sale. Every audition is a sale, then you have to follow it up with a contract, union obligations, tax planning, as well as – if you have a good job as an actor – investment. Then, when I was originating my projects; that is selling a piece of material, setting a value, brokering a deal. So, I’ve been in ‘show business’ all the way through. It’s not too hard to look at the numbers in another dimension.

Don’t give up! Keep at it! Prepare for disappointments, but those disappointments will filter your experience. Travis Kalanick (co-founder of Uber), I must say he had perseverance. He was beaten down several times before the point that he got Uber. He tried many things – two major ventures that were disappointing – but he stayed with it. All his past experiences have led to the success of what I believe Uber is really going to become.

What are some key qualities to leadership?

The first thing is that you have to respect what other people are doing for you, respect that they have skills and abilities that you may think you know something about, but you don’t, because you don’t do that particular function within an organization. Let them do their work. Let them teach you.

Learn about it. Lay back and enjoy the results.

What was it like to come back to the Ghostbusters gang and the iconic brand?

Oh, it’s spectacular to see Bill Murray at any time, Sigourney Weaver, Ernie Hudson; Danny Potts joined us. That aspect of it was really fun and satisfying, to see those guys again. But what is really outstanding is this new cast. The next generation of Ghostbusters are all big stars on television. It hands the DNA of the first two movies to the new generation in a really strong, organic and truthful way. It is a great tribute to the first two films in that it has a blood link to the first two movies. //

The other thing, in a team, is to immediately make the decision as a leader to remove any poisonous elements, any elements that are going to be clashing with personalities because of a fault with a person. You meet people sometimes and you think as a leader or executive, ‘They are so skilled and great, but their behavior is appalling. If their mother and father couldn’t alter their behavior, it’s not my job to do that.’ Those people have to go.

“Immediately make the decision as a leader to remove any poisonous elements”

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KENNY ROGERS

by Dave Gordon

L

egendary country singer and three-time Grammy award winner Kenny Rogers was a man of many talents, including being a film producer and actor. But a least known fact about the music icon was that he was also a successful serial entrepreneur.

Sadly, Rogers passed away, at the age of 81, on March 20, this year, of natural causes amid the mayhem of the COVID-19 outbreak, which superseded tributes to the legend.

The Edge was fortunate to catch up with him weeks before his passing in one of his last interviews. We therefore chose to run this interview as a tribute to the superstar.

Sure, Rogers has charted more than 120 hit singles across various music genres and sold over 160 million records worldwide in six decades, making him one of the best-selling American musicians in history. But he's also an interior designer, home builder and realtor, lent his name to professional racecars, Kenny Rogers Roasters restaurant franchises, and has published four photography books. In addition to all that, from time to time, he has also acted in scores of TV shows and movies.

Rogers released his signature hit, The Gambler, 42 years ago in late 1978. The single propelled the (then) 40-year old’s solo career and made his name synonymous with the song title. Soon after, other hits included Lucille, the Lionel Richie tune Lady, and the famous duet with Dolly Parton, Islands in the Stream.

Interestingly, he has also left his mark on the music industry in other ways. In 1968, he discovered the group that would eventually become six times Grammy award band the Eagles – via a chance meeting with front man Don Henley and bandmates. They all happened to be in the same Dallas boutique shop, as Rogers was on a tour stop with his band at the time, First Edition. In 1985, his recording studio was used to record We Are The World, the multi-artist song to raise money for famine relief in Africa.

In the business realm, he partnered with former Kentucky Fried Chicken (KFC) CEO, John Y. Brown Jr., in 1991 to launch Kenny Rogers Roasters. He lent his name to the Gambler Chassis Co., a sprint car racing manufacturer known in the 1980s and 1990s as one of the fastest and widely used sprint cars.

The Edge asked the singer all about his career and various entrepreneurial endeavors.

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“You only need three things to be happy: Someone to love, something to do, and something to look forward to.”

winners' circle

You’ve been involved in various businesses, like a restaurant, real estate, race cars, so on. I’m wondering if there’s a common link, and why you chose these?

The Roasters was an international concept...

I thought it was a fun project. It was very well done. When you think back on it, it was one of the first health food options – you know, [with] the grease stripped off the chicken. And the food combinations were wonderful. And I thought it had a good image to it. So, I didn’t mind being a part of that.

The racetrack, it was the same thing. Some guys brought me this thing and said, ‘Can we use your name?’ I said, ‘Well as long as you don’t do anything that embarrasses me, then you’re welcome to use it.’

I think, get involved in business, in something you care about. With me, I had recording studios, and I’ve always been a kind of real estate guy. I buy it, I fix it up, I sell it for profit, and I’ve done that 20 times. The only thing wrong is that when the real estate market goes, so do I. I’m an interior decorator, as well. Half the fun has been, for me, fixing them up.

Kenny Roger’s Roasters has some 200 locations – tell me about what it’s doing, today?

I’m still a shareholder, but it’s owned by a guy in Malaysia… I gave him the rights to do it internationally. He has done very well with it.

Being a successful businessman, what is your key advice to new and future entrepreneurs?

Well, I think what it really boils down to for newcomers – the best advice I can give you – is pay your taxes on time, put 20 per cent away, and then have some fun.

It is publicly known that you were broke by the age of 30 and then again by the age of 50. How did you turn things around?

I was broke in the sense that I didn’t have the money (therefore) I didn’t have options.

That’s what wealth gives you – options. I think at 30 and 50, I was trying to figure out (my life) – I was happy – but I knew I wanted to do something different. I wanted to accomplish more.

If you listen to my songs, they all fall into that category. I mean, country was really country when I came along. It was Johnny Cash and Merle Haggard, and it was beautiful country – and I miss that now.

But I couldn’t compete with them, and I knew I couldn’t compete with them. So, I did something different, and I was lucky it was successful. //

And, in my case, fixing up the property.

And sometimes I didn’t even get around to fixing it up. I’ve bought property that sold two months after I bought it – and I made a lot of money on it – and I didn’t get a chance to fix it up. Then, that was a little disappointing to me.

You only need three things to be happy: Someone to love, something to do, and something to look forward to. If you have those three things, you should have a very special life.

And I thought that made good sense. There are ups and downs in this business, but even in the down parts, I used to say, ‘You know what? I’m still making music. That’s what I set out to do.’ I really appreciated it more.

So, I really studied the music business. I realized there’s only two ways to compete: You can do what everybody else is doing and do it better – I didn’t like my chances – or you could do something nobody else was doing, and you don’t invite comparison.

My investments have been predominately – I’d say 80 to 85 percent – real estate…

And I’ve enjoyed it. You know, I think you have to. I don’t know that everybody has this option, but I think you have to find something to invest in that you can enjoy owning it, in case you can’t sell it right away. You know, bring you pleasure in one form or the other.

I know that sounds crazy, but money has never driven me. It’s always been my zest for life, if you will. I like getting up in the morning knowing I have someplace to go, and something to do.

be there, but if you aren’t happy where you are, you’ll never be happy.’

What did you think of the Seinfeld episode, “The Chicken Roaster,” that featured your restaurant?

Oh, I thought it was hilarious. You know, Jerry – there were two shows where he opened for me. He missed the first show.

He didn’t know where we were working, and he couldn’t find us. He never got there.

So, he did kind of a joke, and thought he was going to ride on my tour bus. We had to give him a lesson on ride seniority. But as always and usual, he was a great sport.

How did your parents influence you?

I got my sense of values from my mom. She really knew how to put things into words.

She once told me, ‘Son, always be happy where you are. Don’t (just) be content to

Photo credit: (left and right) Kenny Rogers performs in Washington, DC. USA, March 21, 1992, courtesy of Mark Reinstein / Shutterstock.com, (center) Kenny Roger Roasters Classic Healthy Plate, courtesy of kennys.com.ph/

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7 TIPS FOR MANAGING FINANCIALLY DURING A CRISIS

by Baisakhi Roy

I

n March 2020, COVID-19 upended our collective lives as we knew it, throwing countries and their healthcare systems into chaos, when governments around the globe announced an economic shutdown. The loss of human lives were immense as was the economic fallout. Businesses shut down suddenly, people lost their jobs and families went into lockdown mode, unsure when things would be back to ‘normal’. As we emerge gradually from this unprecedented situation, we are faced with scenarios that need our immediate attention - chief among them being income security and financial stability. We have seven solid tips from experts on how to survive this crisis, financially, one day at a time.

Curb Your Spending There’s no better time than a global pandemic to review your finances to see if there’s scope to cut back on non-essential spending. Perhaps, that big home reno can wait another year; focus on spending money on necessities. Little things help, such as cooking at home instead of ordering take-out too often; have a go at your yard or clean your home yourself instead of hiring out professionals or refrain from online shopping for non-essential items like new clothing. Surely, this year is when you recycle your outfits from last season for your innumerable Zoom calls. There are many ways to cut back – just separate your wants from your needs and learn to prioritize.

“Owing money is an overwhelming feeling but with the right plan in place, debt can be managed efficiently.”

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Build an Emergency Budget Once you’ve zeroed in on your essential expenses, it’s time to go back to the drawing board and build a roadmap for your financial future. This starts with budgeting where you are able to plan for the future and keep your finances on track. Some folks might need to build an emergency budget if their cash flow — whether from a job or business – has been significantly impacted. The first step is to access a free budget workbook or spreadsheet that is available easily online. Make a list of your essential expenses like your mortgage, car payments and food.

Keep going from most important to not so important expenses like fine dining or salon services. If you are paying membership fees for gyms or any other services where you have an automated payment system in place – pause them. Allocate your spending to the most essential items on this list and if there’s a bit left, save it for the future.

Take Stock of Your Debt If you’ve suffered a loss of income or incurred significant losses in your business, your debt payments are probably keeping you up at night. Don’t lose heart – Canada’s top banks have relief measures and programs like deferring payments, reduced payments to minimum amounts, loan extensions and other supports that you may need, especially for big ticket items like mortgage payments. The first step is to review all your current debt and figure out how much of it you will be able to pay off and what would be your altered payment plan. Consider enrolling into a debt management program where seasoned credit counsellors can offer advice and guide you towards a plan that is best suited to your needs. Owing money is an overwhelming feeling but with the right plan in place, debt can be managed efficiently.

Plan a Side Gig Income loss owing to layoffs is a harsh reality for many all over the world. Going back to full time work or going back at all may not be a possibility. Setting up a side gig or taking on extra work at this point may be a good idea not only to earn some extra money but also an opportunity to pursue a passion that you’ve not had time for because of your regular 9 – to – 5 job. Side gigs may not provide the same amount of money as a former regular job, but every bit helps in a crisis. There is also a possibility that what began as a side hustle could evolve into a full-fledged career or business in the future.

Seek Out Financial Assistance Programs The Canadian government has made provisions to assist individuals and businesses affected by the COVID-19 crisis.

In a crisis such as this, it is crucial to keep track of all the programs available for financial respite and make them work for you. Programs include child benefit programs, student loans, the Registered Retirement Income Fund (RRIF), wage subsidies for businesses, mortgage deferrals and more. Finally, find out if you are eligible for the new federal government relief program – the Canada Emergency Response Benefit (CERB), for Canadians who have suffered loss of income due to COVID-19.

Rahim Mohammadi

Licence# M15000307 | Fisco# K-137068

Mortgage Broker M12001193 Managing Partner

Cell: 647.389.5995

Draw On Savings And Investments For some who have incurred major financial losses, dipping into one’s emergency funds is a logical step to take. But one needs to use these funds smartly. For example, TFSAs are a good starting point since you don’t lose your contribution room and there are no adverse tax implications whereas you will have to pay full taxes on any RRSP withdrawals, and you will lose your contribution room. If you’ve invested in stocks and are planning to withdraw from your portfolio, tap into your savings account or investment-grade bonds that are usually steady in a crisis.

Monitor Your Mental Health Last but definitely the most crucial piece of advice is to take care of your mental health and that of your loved ones. This crisis is unprecedented and there’s no foolproof way to navigate it. Be aware of the fact that this is a global crisis and you are not alone in your troubles. Firstly, learn to let go of what you can’t control and plan around things that you can. Reach out to friends and family and keep them close. Financial health is intricately linked to physical and mental health, so keep up a routine of a healthy diet, rest and recreation. Remember, this pandemic has affected all of us globally and the only way to weather this crisis is to trust in each other’s abilities and be there for each other. //

3601 Highway #7 E. Suite 210 Markham, ON L3R 0M3 P: 905.305.8771 F: 905.305.8122 E: ramo200055@yahoo.ca

www.jnbank.com

Lower 36 Queen East Street, Goodison Building Brampton , ON , Canada, L6V 1A2 42

the EDGE Fall | Winter 2020

money & finance

9

CANADIAN FINTECH COMPANIES TO WATCH OUT FOR!

STARTUPS MAKING AN IMPACT DURING THE PANDEMIC

by Lisa Day

N

ot all sectors in Canada are hurting because of COVID-19: fintech (financial technology) is using their innovative products and services to help Canadians during these challenging times.

According to Deallawwire.com (a popular blog

by M&A attorneys at Norton Rose Fulbright), the pandemic and Canada’s “friendly start-up environment” has helped grow the industry, which uses technology for monetary transactions.

Fintechs are often start-ups that move fast, take risks and target products and services to the younger generation.

Examples of fintech products and services include: Crowdfunding platforms; cryptocurrency, or virtual currency, and blockchain, technology that stores data; mobile payments; robo-advising (algorithm financial advice) stock-trading and budgeting apps − with the latest type of fintech being insurance.

Here are some Canadian fintech companies you should be keeping an eye on. Not only are they doing great things, but many have also used their products and services to help the consumer leverage during these ‘new times’.

1

Helcim www.helcim.com Calgary, AB

Using the Helcim cloud-based platform, entrepreneurs can accept credit and debit card payments, send invoices, create online stores and set-up recurring payments, among other things.

Helcim launched November 2, 2017.

Pandemic services: Helcim is waiving its monthly fee for the first six months to help entrepreneurs during COVID-19.

2

JUDI.AI www.judi.ai Vancouver, BC

JUDI.AI provides a platform that offers quick loans. According to their website, the innovative technology is transforming

the traditional ways of “lending for banks and credit unions.”

Founded in 2016, its mission is to decrease the time it takes to provide money to customers.

Pandemic services: The fintech company created services that will allow credit unions to support the Canada Emergency Business Account (CEBA) and the Business Credit Availability Program (BCAP), in a reduced time limit.

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3

European market – first in France and then in other markets.

KOHO www.koho.ca Toronto, ON

KOHO offers a re-loadable, prepaid Visa card; a no-fee spending account with instant cashback; and a money management app.

According to their website, the KOHO app works similar to a chequing account where consumers can put money into their account and spend it anywhere that Visas are accepted. And like a credit card there are perks – cashback and other rewards.

Pandemic services: KOHO users can access some government payments early; set up their Canadian Revenue Agency (CRA) payments to KOHO; and enjoy no fees or interest.

4

Manzil www.manzil.ca Toronto, ON

Considered the “only entity in Canada that follows all guidelines for Shariah governance established by the Accounting and Auditing Organization for Islamic Financial Institutions,” according to the company, Manzil's mission is to help Canadians balance their financial needs with their ethical and spiritual ones. According to a press release, Manzil is available on the NEO Concept under the symbol MANZL and is also listed on DealSquare. According to its website, it offers an “online private placements platform for dealers, investment advisors, investors and capital raisers alike.”

Canadians are also able to invest in the company through FrontFundr, which connects investors and entrepreneurs.

Manzil was founded in 2017 to tap into the spending power of Canadian Muslims.

5

Moka www.moka.ai Montreal, QC

Moka (rebranded, formerly known as Mylo) is an automated savings and investment app that helps users save money in order to achieve their financial goals. Launched in 2017, more than 750,000 Canadians have downloaded the app. Moka recently announced they are breaking into the

Pandemic services: With millions of jobs being lost during COVID-19, financial security has become priority and of utmost importance to most around the country. The company’s website features has a number of COVID-19-related articles to help its users navigate the ‘new normal’.

6

Nest Wealth www.nestwealth.com Toronto, ON

Founded in 2014, Nest West's goal is to increase access to wealth management advice. Its digital solutions are being used by financial institutes across North America.

Recently Nest Wealth announced a deal with National Bank, which will see the technology company remain independent while offering the bank “both a minority equity investment and a long-term services agreement,” according to their website.

7

Pandemic services: Consumers can switch their direct deposit to their STACK account, making it faster to receive their CERB.

9

Talem Health Analytics www.talemhealthanalytics.com Sydney, NS

The Sydney, Nova-Scotia -based fintech company's mission to is help the insurance industry decrease fraudulent claims and help speed the recovery of those who have been injured in an accident. The fintech does this by bridging “clinical expertise with technology” including an artificial intelligence tool that analyses data.

This organization is the second of two Canadian fintech firms that participated in the Montreal-based Holt FinTech Accelerator.

Ownest Financial is the other Canadian firm that participated (see above).

Ownest Financial www.ownestfinancial.com Calgary, AB

The goal of this Calgary, Alberta-based fintech is to innovate how financing is done worldwide. The company, which was founded in 2012, offers Canadians the opportunity to speak with more than 125 different lenders, ensuring they find the best deal.

This organization is one of two Canadian fintech firms that participated in the Montreal-based Holt FinTech Accelerator, a program that pairs up-and-coming fintech firms with advisors. Talem Health Analytics is the other fintech Canadian company that participated (see below).

8

STACK www.getstack.ca Toronto, ON

The STACK app allows entrepreneurs to put money on their reloadable Mastercard and spend it however they like worldwide.

There are no fees and there are instant rewards and tools to manage your money.

COVID-19 has been the deciding factor to show that companies who pivot and evolve are able to will be successful in the ‘new world’, we currently find ourselves in.

Fintech companies improve the lives of consumers through innovative solutions will continue to see an increase in the Canadian business landscape. //

Learn more about some of Canada's fintech companies, by visiting www.pwc.com/ca/en/industries/technology/canadian-fintech-market-map.html

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start-up

IMPACT INVESTMENTS COULD HELP YOUR BUSINESS 6 Questions to Ask Yourself Before Pitching to an Impact Investor

By Michelle Novielli

I

mpact investing is making waves as the new, cool kid on the block that everyone wants to befriend. This type of strategy allows investors to put their money behind social and environmental causes that they actually care about while also generating a financial return. With a do-good, feel-good mentality, it’s no wonder the strategy continues to rise in popularity.

According to the 2018 Canadian Impact Investment Trends Report, impact investing in Canada has grown at a rate

How Will My Start-up Measure Impact Investment?

Before you begin the search, set yourself up for success while drafting your business plan. In the early stages, it’s important to define how you’ll measure the results of any impact investments you secure.

Potential investors will be keen to hear about your social and environmental goals, as well as how you plan to evaluate them.

These metrics should be prominent in your business plan and pitch. Don’t overshoot your targets just to secure a deal; ensure your goals are realistic, practical, and timely for your business.

What Types of Investment Does My Start-up Need?

Now that you have a business plan drafted for your sustainable company, you likely know how much funds you need to launch or scale it. However, there are many methods that investors will use for sustainable start-ups. From capital to grants, inside knowledge, industry advice and even sharing important business contacts, investors can choose to contribute in

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the EDGE Fall | Winter 2020

of 81 per cent over the previous two years. The report cites an increase from $8.15 billion in 2015 to $14.75 billion in 2017 and counting. With current investors noting that the strategy continues to meet or exceed their expectations, word on the street is that impact investing is expected to continue climbing the ranks.

If you own a new or budding start-up and are looking to secure business resources through an impact investor, here are some questions to ask yourself before you start the process.

several ways. It’s important to be clear about your needs to potential investors and have a plan in place to acquire what you’re looking for.

What Do I Know About My Potential Investors?

In the same way that the types of investments will differ, so too will the people behind them. From angel investors to government groups, venture capitalists, financial organizations, and more, your ideal impact investor could take on many personas. Do your homework to ensure your shortlist of investors offers the type of investment your start-up is looking for. Helpful resources include the Canadian Investment Network, Global Impact Investing Network (GIIN), AngelList, and Crunchbase. Once you have a shortlist, investigate the businesses they’ve supported in the past. This will help you to understand their values and ensure you are aligned in your beliefs.

How Will I Build a Relationship Before I Make a Pitch?

Establishing a rapport with a potential investor goes a long way in making a better

pitch — and hopefully securing a deal.

You may choose to connect at a common industry event or ask a mutual connection to put you in touch. Either way, your goal with each communication or conversation should be to secure another chance to interact. When you feel confident in your relationship and are ready to make a pitch, be sure to set up a specific meeting. This will ensure both parties are prepared and ready to discuss the potential investment.

What Will I Cover in My Pitch?

Time is money and your potential investor would likely not give you much when it comes to a pitch meeting. To respect their time, ensure you have a short, compelling pitch prepared. Talk about your start-up, the social or environmental issues you hope to solve, your business goals and plans to reach them. Be prepared to speak to your mutual values and how they align, and what you’ve already achieved in business.

You also must know your industry well in order to answer any questions from your investor and to be able to set yourself apart so that they’ll invest in you, and not your competition.

From capital to grants, inside knowledge, industry advice and even sharing important business contacts, investors can choose to contribute in several ways.

Am I Prepared for Negotiations — or Worse, Rejection?

When it's comes time to make your pitch, prepare yourself for many types of outcomes. Your impact investor may decline you outright, may want to negotiate a deal or may want to think about your proposal for the future. Not every pitch will result in a positive outcome right away. By being open to discussion, questioning, and even criticism, you must go into your pitch prepared to be persistent. Even if your pitch is unsuccessful, the investor likely has a whole network of contacts who may be interested instead, so it’s essential that you maintain good relations and keep your head up. //

Benefits of Securing Impact Investments as a Start-Up If you’re new to impact investing or the startup world in general, here are a few advantages to becoming an impact enterprise:

Take advantage of a large investor pool. GIIN estimates that the global

investment market is valued at US $502 million and growing. Plus, securing an impact investment does not prevent you from seeking other types of funding and grants as well. Impact and non-impact funds can co-exist within your start-up.

Open yourself up to possible perks.

Some impact investors may be able to offer you better terms, low interest rates, a longer grace period, and other advantages.

Lower your susceptibility to risk.

NOW FOR SOMETHING COMPLETELY DIFFERENT!

Having an impact investor on board won’t ensure it will be entirely smooth sailing ahead for your start-up, but they can certainly guide you on the water. Take advantage of your investor’s business experience and be open to their advice.

Align your sustainable goals early.

Impact investors will be at the forefront of change when it comes to social responsibility.

They can help you implement your social and environmental goals in a sustainable way earlier and much more effectively than your closest competitors.

www.experiencepei.ca

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Real Estate Reimagined

by Veruschka Mungroo

W

ith digital and financial technology revolutionizing at a rapid rate, there is no surprise that Fintech companies are taking over the world with ingenious ideas, changing industries, businesses and how we transact daily.

Blockchains is the new kid on the block that has got everyone talking in recent years.

Bloc Estate, with its subsidiary, Bloc Pay, is one such company that is at the helm of its industry.

The company’s cloud service delivers sophisticated solutions

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the EDGE Fall | Winter 2020 2019

focused on the efficient, secure, and compliant conduct of financial and real estate operations at an enterprise level.

The Edge spoke with CEO Michael Clement Duenas Cambare, who claims that the aim of their company is to “revolutionize the alternative real estate and financial markets.”

Since its inception in 2018, the company, based in Downtown Markham has grown rapidly, launching three specialised branches namely - Bloc Pay – an online financial service; Bloc Estate – specialising in real estate and Bloc Shopping – a rewards program that incentivises users to pay off their credit cards.

“Imagine buying a house or condo in just under an hour. We leverage the sophistication of our software products and our expertise in the fields of financial technologies, compliance, machine learning, and blockchain, to generate solutions that are seamlessly integrated into the client’s needs,” said Cambare.

Every year millions of Canadians send billions of dollars internationally to family and friends or to buy international assets, but the process is tedious with exorbitant fees.

family and friends abroad. Historically, foreign transactions and acquiring international real estate is complicated due to international policies, anti-money laundering, regulatory compliance, inaccessibility and the general lack of knowledge to conduct such undertakings. The processes are performed by consultants who charge exorbitant fees.

“We cut out the middleman, so we are able to offer the same services without the high consultancy fees,” said Cambare.

“At Bloc Pay we eliminate the unnecessary, creating a streamline process to send money overseas efficiently with the lowest possible costs. We’ve made our system more transparent and a one-stop shop. Our design unclutters – so you can keep focused on the things that really matter and we deal in all major currencies,” he said.

He added that the real estate arm of the company - Bloc Estate – eliminates real estate agents, lawyers, etc. saving clients thousands of dollars in a far quicker turnaround period.

The former army personnel turned computer specialist said that the idea of an online financial and real estate solution was born from his passion for machine learning.

“We are currently working with high stake banking partners; well known international real estate agents and banking information.

Therefore, we have invested greatly in having the best cyber security in the industry, which also gives us a competitive edge.”

“As a computer science graduate, I always had an interest in machine learning and wanted to create an innovative system that makes life easier, especially for those immigrants that have

The company prides itself with a state-of-the-art online security encryption system to ensure that all information on their site is safe.

He added that the future goal of Bloc Estate is to make buying real estate as easy as buying off Amazon.

Buy and sell properties totally online. Search for a home smarter with machine learning and predictive search. Generate and enforce contracts with blockchain. Do all of this, with Bloc Estate.

For more information on the company

www.blocestate.ca

email mail@blocestate.ca or call +1 (647) 258-6352

www.blocpay.ca

email mail@blocpay.ca or call +1 (888) 302-5639 - Advertisement -

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the EDGE Fall | Winter 2019

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technology business

BRAVE NEW REALITY:

THE FUTURE OF EDUCATION

by Peter Campbell

Learning to Unlearn – The Next Steps in the Evolution of Education

W

hether it's an inkwell or an iPad, new technologies continue to emerge. With changing times (especially those in 2020), the ever-developing role technology takes to impart and foster knowledge has never been more needed or more beneficial. Just imagine self-isolation without mobile phones, MS Teams, Zoom, FaceTime, WhatsApp, social media, the Internet, television, radio, etc...

Long gone are the days of the 3 Rs (reduce, reuse, recycle), morphing into STEM (science, technology, engineering, math) as our world continues to change.

Then came COVID-19, and we had to react and adapt again.

Schools, colleges, universities, daycare centers – all closed. Many students were required to learn from home, as their parents juggled the challenges of being out of a job or working from home while also donning the educator's hat. Teachers and students were eventually able to reunite ... but in a vastly different forum. Yet, regardless of the situations thrust upon us, we still yearned to learn. However, the way of doing so forced a change. And with change, though occasionally unnerving, is often for the good.

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technology

Technologically Tackling the New Dawn Like COVID-19, the changes to education seemed to occur minute-by-minute. Online learning quickly became the new norm. Ontario's Minister of Education, Stephen Lecce, announced that his government would make 21,000 iPads with free data available to students who did not have access to the province's online learning tools. In an interview with CTV, on Morning Live, Lecce announced that the Ford government would ensure that Internet is available at all high schools and elementary schools

by September 2021. Broadband modernization was available in over 2,000 schools, and school boards had distributed over 200,000 computers.

As Lecce said in his announcement, "We know that our province’s and our country's future prosperity depends on our ability to embrace the digital economy and digital learning fully." He added, "The next generation of Canadian thinkers – of innovators and entrepreneurs – need to be connected to the global marketplace."

The New Educational Norm Years from now, historians may make an educational delineation between pre- and post-COVID-19.

Though offline (brick-and-mortar) universities and colleges will continue to exist, students learning online (‘EdTech’) will far outnumber the on-campus learning experience.

Similar to the way we now consume entertainment (rather than the ‘old’ way of going to movie theatres), the future of EdTech follows the same evolutionary pattern whereby the ‘fittest’ (i.e., the most technologically savvy) stand the best chance of adapting or surviving. The resulting educational impact will likely see a future of blended learning – a mixture of online and face-to-face instructions.

In effect, the pandemic will have provided us with combined technological and educational opportunities.

COVID-19 has illustrated how globally interconnected we are – both physically and technologically. It will be critical that we understand this inter-relatedness in order to work successfully with each other in a globally collaborative manner. Although technological tools designed to facilitate the transfer of teachers' wisdom to their students is nothing new, COVID-19 has created the need for doing this remotely.

Hardware (including laptops, iPads, and iPods) and software (such as D2L, and G-Suite for Education) have supplanted notebooks and chalkboards.

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"We know that our province’s and our country's future prosperity depends on our ability to embrace the digital economy and digital learning fully."

- Stephen Lecce, Ontario's Minister of Education

technology business

Intelligent Education Global changes necessitated that SMART learning or intelligent education be elevated to a new level. A series of articles by ETBrand Equity explores "the changes that the education sector can expect in light of the COVID-19 pandemic" – listing many emerging educational trends, perspectives, and learnings. Among them, from a technological standpoint:

»

Ar tificial Intelligence (AI) and cloud computing will enable MOOC (Massive Open Online Courses) and personalize learning MOOC allows students and teachers to access the latest knowledge in remote areas. They typically modify all applications for tutoring to the user profile of each student.

Such examples are Udemy – the largest learning institution in the world, even without a single classroom; Masterclass; Duolingo, etc.

»

Chatbots will provide personalized guidance and help An AI-enabled chatbot was tested at Spain's University of Murcia to provide immediate answers to nearly 39,000 questions from potential students, regarding the campus and its areas of study. They also obtained data regarding the students' concerns and fields of interest to improve their educational experience.

» ‹ HoloAnatomy® Suite augmented reality app, Photo courtesy of: Case Western Reserve University

A u g m e nte d R e a l i t y ( A R ) w i l l m a ke visualization, annotation, and storytelling more realistic Because AR allows a person to bring an object or concept from imagination to reality, AR benefits are boundless.

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The AR app HoloAnatomy® Suite (pictured left) – which offers minute 3D detailing of human anatomy – enabled all first-year medical students at Case Western Reserve University in Cleveland to learn from their homes during Ohio's lockdown.

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Smart caption’ eyeglasses allow patrons of London's National Theatre to see descriptions of a performance's sound, and a transcript of its dialogue, on the lenses.

•

The National Gallery of Prague uses ‘haptics’ (virtualtouch feedback) to help the blind and visually-impaired to experience iconic art sculptures brought to life through Neurodigital Touching Masterpieces.

“A Necessity a Day” Just May Keep the Virus at Bay Education technology (edtech) has been around for close to two decades. However, pandemic necessity has caused it to evolve – or to stay with the COVID theme, mutate – dramatically over the past several months.

To paraphrase Nelson Mandela: “You never lose; you either win or learn.”

The primary role of education is, of course, to educate. At its core lies the hope that students will emerge to take us to places we never imagined. Although phrases like "Our children are our future" may seem to be merely ‘warm-and-fuzzy’ clichés and song lyrics, they are arguably more accurate and of a more profound necessity than ever before.

Constantly-evolving technology and human resourcefulness are vital to answering questions we haven't even thought to ask as yet – since education is also the ‘Mother of Invention.’ //

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I

SAFER AND SMARTER MUNICIPAL ROADS RIS helps municipalities and civil engineers make data driven decisions, prioritize road repair and build better infrastructure. IRIS has these concerns in mind, working to create safer and smarter communities through humancentric AI technologies.

Iris Research & Development is determined to bring together communities, spark creativity and foster innovation and collaboration in solving Smart City & Municipal challenges. They believe that by leveraging existing city assets, V2X (Vehicle to Everything) IoT and open data - they can create AI-Enabled Data Points and Next-Generation Applications that solve community problems and barriers to progress, save operational and capital expenses, create opportunities and jobs, and help further Ontario’s innovation ecosystem through applied research collaborations, early adopter test pilots and commercialization of ground breaking, Canadian owned solutions in the Global market.

The award winning irisGO™ Dash cam, integrated with Artificial Intelligence and deep learning is used to detect road deficiencies and collect actionable data that help cities prioritize work and cut maintenance patrol costs in half. The irisGO™ gathers ground truth video data to support your driving decisions and help you visualize real time road conditions.

by-law vehicles and other ubiquitous city assets, the irisGO™ system can: • Expedite MMS patrols and automate work dispatch orders • Connect and track ubiquitous city fleets and assets • Collect city wide road network sensory data points • Track real-time road hazards and public infrastructure deficiencies • Manage maintenance evidence and statutory defence • Analyze data for capital planning and urban engineering • Immutable data points for building strategic asset management policies

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technology

POPULAR TECH TRENDS TO IMPROVE YOUR BUSINESS

by Marcus Medford

2020

has been a year of drastic change for many around the world due to COVID-19. Many of us have had our daily routines disrupted and have relied on digital solutions to get through these tumultuous times. Technology has played a significant role in how society has adjusted and these trends will stick around after the pandemic subsides.

Today, we’ll look at some of the major tech trends of 2020 that will play a prominent role in businesses going forward.

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technology

AI and Machine Learning Artificial intelligence (AI) and machine learning is one of the most significant and fastest growing trends in the world.

Using data and algorithms, AI machines are increasingly able to learn and act intelligently without consulting humans. AI is becoming more capable of managing more data and processes, and is appearing more and more across industries and will continue to grow.

Many companies already employ AI technologies to enhance the customer experience. For example, mass personalization refers to the ability to offer highly personalized services on a mass scale. There are also “micro-moments” which means knowing and responding to a customer’s need at the perfect moment, which improves their experience of your brand. Both micro-moments and mass personalization are made possible by technologies like AI and Big Data.

Big Data Big Data refers to the exponential growth in the amount of data being created.

Businesses use this information to analyze and better understand customers and to help improve their businesses. It also helps organize and manage copious amounts of information, allowing business owners to make better decisions. Many large ecommerce companies use Big Data and tools like Cloudera and OpenRefine to analyze their customer databases.

Augmented analytics are highly advanced data analytics which often use AI techniques to manipulate and make sense of large, complex data streams. Quantum computers are incredibly fast computers capable of solving seemingly unfathomable problems that puts our state-of-the-art technology to shame. Currently, quantum computers are mostly reserved for labs, but experts believe quantum computers could become commercially available during this decade.

Social Media Marketing Social media marketing has become the face of advertising during COVID-19 when all but essential services were forced to shut down. Businesses, particularly small enterprises, needed to find different ways to connect with past and potential customers. According to Statista, there were approximately 25.35 million social network users in Canada in 2019. This

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figure is expected to reach a staggering 32.07 million users by 2023. According to a Sprout Social study, 75 percent of people bought something after seeing it on social media.

A good social media marketing strategy allows your business to effectively reach its target audience, increase revenue, and keeps your business competitive. Business owners looking to improve their social media marketing should familiarize themselves with social media management tools such as Buffer, Hootsuite, SproutSocial and Klout.

You can also enlist the services of a digital agency or a marketing strategist.

Cloud and Edge Technology Cloud and edge-based software gives employers and their employees greater flexibility when it comes to working remotely.

In cloud computing, data is stored on computers and accessed by other devices via the internet. With edge computing, stored data is processed by smart devices like phones. In 2020, more companies are favouring edge computing because data is stored closer to the location where it’s needed. This means faster response times and less bandwidth used.

Technologies like cloud and edge-based softwares have helped many transition to online work. And for some employees and some industries, people can expect to work from home more often in the coming months. Some also argue that technologies that allow people to work remotely will increase their quality of life and improve their work-life balance.

Cybersecurity Cybersecurity measures such as blockchain technology help protect the money and information that’s stored and exchanged online. Blockchain is a powerful, secure method of storing, protecting and authenticating data that’s particularly useful for facilitating transactions. You can use blockchain to improve payment systems, verify identities, distribute digital information, and send transactions through various cryptocurrencies. The distributed ledger network of blockchain keeps verifiable records of each transaction made in the system.

Cybersecurity is increasingly important because cyberattacks are becoming more common and more sophisticated.

Internet of Things The Internet of Things (IoT) refers to the ever-growing number of “smart” devices and objects that are connected to the internet. These devices constantly gather and transmit data, further fueling the growth in Big Data and Artificial Intelligence (AI).

There’re all kinds of smart devices used for living healthier, being safer and living more efficiently.

5G Networks The fifth generation of cellular network technology, 5G, will create a faster, smarter, more connected wireless network. 5G technology will allow more devices to connect to each other and create richer streams of data, pushing the limits of what is possible. Businesses can leverage 5G networks and the IoT to optimize their workflows and automate certain processes.

Voice and Facial Recognition Technology Computer vision and facial recognition technology allows machines to “see” by visually interpreting their surroundings.

Facial recognition is a prime example of this technology. Typically, this technology is used to identify and verify people’s identity. People have raised concerns about the use of facial recognition technology, and rightfully so, but this technology is here to stay.

Similarly, natural language processing (NLP) technology allows machines to understand human voices and languages. NLP has drastically changed how humans interact with machines. AI voice-commanded assistants like Siri and Alexa are wellknown examples of this technology. These technologies will grow more prominent, accurate and effective with time.

Chatbots and Automation Chatbots are a software or computer program incorporated on a website used to help people communicate using AI. Chatbots are popular among companies that provide service 24/7 and are an excellent tool for managing customer service. With chatbots, customers are able to immediately get an answer to their inquiry which improves the user experience.

In addition to communication, automation tools can be used to organize data, improve sales, manage inventory and payroll for businesses which can increase efficiency and productivity. //

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ROGER GORDON: Green Energy Entrepreneur

by Dave Gordon The search for a practical green energy solution has been in full swing for quite some time. But green technology still faces many challenges, such as its unbearably high price tag, the fact that it can’t provide enough energy for mass use, and that it can be impractical to implement.

T

he good news is that lately the game has changed – a new, affordable breakthrough can make fossil fuels a thing of the past. Green NH3, a type of ammonia, is gaining traction as an alternative fuel for automobiles, airplanes, and factories. The icing on the cake? Its emissions are only water and air, and it costs less than 30 cents a litre.

Brampton-based pharmaceutical businessman Roger Gordon has developed and patented the technology to make Green NH3 a reality. Green NH3 has already received praise from Prime Minister Justin Trudeau, Shark Tank’s Kevin O’Leary, former Saskatchewan Premier Brad Wall, and former Ontario Environmental Commissioner Gord Miller.

The fuel is already in fairly wide use. Gordon’s truck, a Ford F350, runs on Green NH3, as do 100 other cars on the road. It’s as cheap as a $1,000 retrofit, he says. Additionally, some farm equipment in the US and Italy have also been fitted for the fuel.

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the EDGE Fall | Winter 2020

On an industrial and commercial level, NH3 has been used successfully in the past. In Belgium during World War II it was utilized to keep public transportation running during gasoline shortages. Just a few years later, NASA’s X-15 jet – which broke speed records – was fuelled by NH3.

Suffice it to say, weaning ourselves off of oil has many advantages, such as significantly paring down air pollutants and eliminating the need to carve into the ground to drill for oil, not to mention an end to oil spills and economic dealings with unfriendly regimes. It could also save lives, since 85% of airborne pollutants are responsible for the deaths of 600,000 children age five and under each year worldwide.

The Edge spoke with Roger Gordon about how Green NH3 can change the world, and what’s in store for this ground-breaking energy alternative.

How did you first find out about NH3? What was your initial involvement?

We were making pharmaceuticals starting with ammonia as a building block. That was the main product. Because we were using so much of it, we thought we could probably make this stuff.

We thought we could offer big companies something green to replace a barrel of oil.

Is Green NH3 completely safe in a car?

The tank is supposed to be outside the vehicle – the same with a fuel tank. You don’t want the tank inside the vehicle of any fuel.

If the tank is pierced or punctured, you don’t want to breathe that, because it is caustic. If you can hold your breath and get away from it, that’s fine. But it doesn’t burn. That’s the beautiful thing about NH3; it doesn’t burn or explode like other fuels.

Is there a difference between Green NH3, which you invented, and NH3?

Last July you met with Saudi Arabian developers, university professors, and even a Saudi prince to discuss ways to jumpstart Green NH3 in that country. How has that been going?

It’s the same molecule. But we don’t have to take coal and start cooking it to get the molecule. Ours is made from air and water. We take the nitrogen in air and the hydrogen in water.

The machine is continually sucking air in, to take in the nitrogen, and sucking water in, to take the hydrogen.

They are still on board… they want to be shareholders and partners in a couple of projects. They have a few projects they want to use to add Green NH3.

You have this machine the size of a refrigerator that creates Green NH3. How would the common person utilize it?

I would prefer you plugged it into a solar panel just to keep the price down, if nothing else – and keep it completely green. There are people now with solar who are paying less than 3 cents a kilowatt, as opposed to five times that or more.

We are at 500 litres a day, at twenty litres an hour. It’s something that people could put in their garages or, eventually, gas stations would have pumps for it. I’m hoping one day, hundreds of thousands of them will be across the country. Right now, each of them is about $10,000, so people could lease them, but it could get cheaper along the way.

What about going to factories, corporations, airlines?

We’ve made the contact, and they know we exist. We’ve tested it in jet engines. It isn’t like it hasn’t been tried.

One of the reasons the Saudis are interested because of [stateowned] Emirates Airlines – they see they are spending on some flights $5,000 to $10,000 in carbon taxes over Europe. They are looking for ways to avoid the carbon tax. General Electric are testing it in their operations; Rolls Royce are going to test it in theirs.

It’s just all the regulations and roadblocks. The government, big oil, the Canadian Safety Association, it’s all of these hoops you have to jump through. Government has been a threat to growing technology. It’s like you don’t want your daughter to go out with a guy, you can find a hundred reasons why not. It’s so easy to be the stopper.

But we are already talking to the Quebec government, and they are very interested in using it for the northern communities for 10 cents a kilowatt, rather than 25 cents. We’re also talking to northern communities, farms and mines. The mines, just because they are so large scale, and they need so much fuel to produce, they would use this because of the amount of money they would save.

What has being an entrepreneur taught you?

I always look at some business, and I see two people doing the job that one person can do. Streamline it. That’s all I see.

Where can people find out more?

The website is www.GreenNH3.com and for videos visit https:// tinyurl.com/GreenNH3.

Contact Roger Gordon for more info: info@greennh3.com - Advertisement -

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leadership

WHEN

BUSINESS LEADERS MAKE THE JUMP

TO POLITICS

by Josephine Mwanvua

I

f you’ve succeeded in getting your company out of debt, do you think you could do the same for an entire country?

If you turned your business from a small venture, to a thriving enterprise, would your customers also buy into the idea of you running their city?

There are times when business leaders want to get involved in politics, believing they have what it takes to drive their community forward, to be problem solvers or to revitalize a city.

Naturally, the most famous and prominent of any corporate type to enter the political realm is President Donald Trump.

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leadership

But scores of others in recent years and decades also fall in this category, some of whom include: •

•

Mitt Romney, the Republican presidential candidate against Barack Obama in 2012, and current Senator in Utah. Roughly a decade before entering politics, he co-founded Bain Capital, considered one of the top investment firms in the world, managing about $65 billion in assets.

Jon Corzine, former governor of New Jersey, was CEO of Goldman Sachs.

What Does it Mean to be a Public Servant?

Anyone considering entering a campaign should know there is a differentiation between an entrepreneurial venture and a social service role. In politics, debt and equity are on a much larger scale; diplomacy extends far wider (and far more complex) than the shareholders; and the politician requires a window to their community’s wants, forsaking the windows of the corner-office.

Running for office differs from working in the office, as it requires another set of managerial skills altogether. For example, while employees will do a task for monetary incentive, volunteers and voters need to be encouraged to act for the sake of the greater good. Would-be politicians need to find common ground with individual people, versus focusing on selling in mass distribution.

What Motivates the Transition?

•

Rick Snyder, 2011-2019, Governor of Michigan, served as the chairman of the board of Gateway, Inc. He also co-founded venture capital firm Ardesta.

•

In Canada, the last generation saw two corporate leaders become prime ministers. Brian Mulroney was executive vice president, and later president, of the Iron Ore Company of Canada. Paul Martin was CEO of Canada Steamship Lines.

•

Former New York Mayor Michael Bloomberg was general partner of a large Wall Street investment bank, Salomon Brothers in the 1970s, and later became a media mogul creating the multi-billion-dollar business, Bloomberg News.

Photo credits: Paul Martin by Dave Chan-PMO, Canadian Steamship Lines logo © The CSL Group Inc.

None of us have a looking glass into another’s head, so it’s tough to know anyone’s motivation for running. But since politics is often about perception, no candidate wants to appear as slick, out-of-touch wealthy, or going into it for the power or attention.

The latter appeared to be the case with Kevin O’Leary, the Canadian-born businessman and TV personality, who ran for leadership of the Federal Conservative Party of Canada in 2017.

Kevin O'Leary (left) with current MP and former leader of the Conservative Party of Canada Andrew Scheer (right) at a 2018 townhall event with Ryerson University students.

For O’Leary, who spends most of his time in the US, being prime minister seemed to be the way to grow his brand. His own former Dragons’ Den co-star Arlene Dickinson told the CBC that O’Leary “doesn’t do anything that doesn’t offer a path to power, fame or fortune – and that should have us all afraid.” (O’Leary quit the Conservative Party leadership campaign after about four months.)

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Much the same, for Mitt Romney’s first foray as a presidential hopeful in 2007-08, people portrayed him as “too packaged” and just another corporate suit out of touch with Americans.

Furthermore, Brian Mulroney lost his first bid for Conservative leadership in part because he became known as the “Cadillac candidate” – spending truckloads of money on his campaign, that made him look like he was unrelatable to ordinary Canadians.

Trump, on the other hand, was said to have tapped into that “something” with American voters, where he was seen not necessarily as a billion-dollar man, but more focused on bringing back jobs, and discontented voters. The alpha-male gruff resonated, unexpectedly, as the “anti-politician politician,” who connected to the middle class with straight talk. Love him or hate him, Trump made it about “the little guy” getting pinched by layoffs. Voters believed him when he said he wanted to “drain the swamp”, lessen bureaucracy, and rescue the economy – and supporters seemed to be convinced he wasn’t simply in it for the notch in his belt.

Who Succeeds – and Why? Once in power, the proof is in the action.

Michael Bloomberg, the mayor of New York City from 2002 to 2013, positioned himself as someone who made decisions based on statistics, results, and practicality.

As David Leonhardt wrote in The New York Times, “[Bloomberg] won a huge public-health victory by restricting smoking, and made more progress than many people realize on obesity.

Bloomberg rewrote archaic zoning laws, so they were no longer based on the notion that factories and residences were the main uses for New York’s real estate… He presided over a decline in both crime and the jail population.”

VIKRAMJEET SINGH CEO/MORTGAGE AGENT

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Herman Mashaba, former Mayor of Johannesburg and founder of Black Like Me.

Another successful example is Herman Mashaba, a self-made South African millionaire and former mayor of Johannesburg.

Mashaba owns Black Like Me, a successful line of natural hair products. He started off small in politics by chairing a seat in the Free Market Foundation, a liberal organization focusing on democracy and human rights. He successfully constructed homes in poor areas of Johannesburg. Mashaba lead with an understanding of the problems his city faced.

Both are great examples of successful entrepreneurs who sought to better their communities, and did so with heart. //

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the EDGE Fall | Winter 2020

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leadership

EXPERT ADVICE ON BEING A GREAT LEADER

by Dave Gordon

W

orld leader, freedom fighter and Nobel Peace Prize winner Nelson Mandela, once said, “A leader … is like a Shepard. He stays behind the flock, letting the most nimble go out ahead, where upon the others follows, not realising that all along they are being directed from behind. Leadership is about working with and for others to achieve a common goal that benefits everyone.”

The success of any organisation is dependent predominately on great leadership with top thought leaders, CEOs, business executives and industry giants identifying their own unique spin on what it means to be a great leader or a great manager. They have used their own strategies and pathways to discover what it means to excel in leadership.

So what key strategies associates one with being a great leader?

The Edge spoke with six successful executives in various industries about what differentiates between a good manager or leader, and a great one.

“

Trust that people can do things better than you. When they do it better than you, and you feel like they are putting you out of a job, that’s the best feeling you can have, not the worst feeling.

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the EDGE Fall | Winter 2020

- Colin Sprake

leadership

JAVED S. KHAN

Speaker and CEO of EMpression: A Marketing Services Company JOE MIMRAN Founder of Joe Fresh and Club Monaco, President of JM&A Inc and Chairman of Gibraltar Venture I think a great [leader] is one that can inspire people to be great. A good one is one that manages well. That’s the big difference. You can see them out in the marketplace. Great ones are inspirational, and push people to do things they couldn’t think they could do. Good managers just manage well.

I think there are a few things that make a leader great. One is that a great leader has the ability to delegate and trust their team around them and is able to manage that expectation with their team. Two, they are a strategist, a visionary. They have a mindset of where they want to go, and will, in some cases, be very laser-focused in where they want to go.

The biggest trait I’ve noticed is that great leaders are not there to make friends. I don’t mean they’re obnoxious, rude, crude, or disrespectful, no. They are there to be firm, fair, engaging, and bring everyone into the conversation, rather than the conversation going one way. They have the ability to corral a team, and they have the ability to communicate in a very effective way to make people who weren’t on board, come on board.

COLIN SPRAKE

Entrepreneur and Founder of Make Your Mark Training and Consulting

Realize that you are always being watched as a leader in a company.

Exceptional leaders create exceptional leaders. They don’t create exceptional followers.

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leadership

TONYA WILLIAMS

Actress, Producer and Founder of Reelworld Film Festival Women bring a unique talent and perspective to any project that is very different from how men look at things.

It is the balance of both the talents of men and women that create the most successful companies, like how our left and right hands are different, but can accomplish so much more when they work together.

Watching older actresses was the greatest lesson for me in wanting to diversify myself not only as an artist, but as a businesswoman. Having grown up watching my mother and father, who had solid careers (my father was a barrister, then Supreme Court justice), they never just relied on those jobs – they had income properties, other financial investments, savings. My mother is a big saver. All these things showed me that if I wanted more power and control in my life, I couldn’t rely on any one thing; since life is unpredictable, we have to hedge our bets.

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the EDGE Fall | Winter 2020

MICHELLE ROMANOW

Entrepreneur and Cofounder of Buytopia, Judge on ‘Dragons’ Den’ I think great leaders are able to constantly paint the amazing vision of what is not there, but what could be, and conceal their own fears. Because, the reality is when you lead, you have no idea what is next.

The best leaders just have such a strong sense of, “I can see this, I can build this, I can sell this to you, and I can actually hide the fact that I have no idea what’s going to happen.”

It’s not an ungenuine hiding. It’s that you need someone to say, “If this is going to happen, I believe in it.” Good leaders make good plans. They can rally good teams. Really great leaders just continue to see the future, and don’t share their fears as they bring the team along. Which is why it’s so lonely being a leader.

ISSIE SHARP

Founder and Former CEO of Four Seasons Hotels and Resorts From employees’ point of view, this manager or leader might have been anointed, rather than worked their way up. They don’t know anything about them. The leader, or manager, now has to earn others’ respect and trust, from the people they are now in charge of. That only happens over a period of time.

When you’ve reached that level, when people believe in you and trust you, you now have influence. Rather than them doing what you want because you’re the boss, they’ll do what they’re asked because of the trust they have in you. Then, you can get people to go way beyond what’s expected. Leaders unite, direct, and motivate. They get people to work together and accomplish more than they could have individually.

leadership

SETH MATTISON

THE LUMINARY ENTREPRENEUR

by Dave Gordon

Photo credit: Sarah Orbanic

L

leadership

eadership, change and innovation comes with a deep understanding of knowing where your strengths and weaknesses lie as a leader.

This is the expert advise of Seth Mattison, the genius who advises world-leading brands and organizations on the key developments around business strategy, change and innovation, leadership, and the future of work.

As co-founder of Luminate Labs with his wife Kristen Aldridge, they have created a network of 2,000 thought leaders from which entrepreneurs can tap ideas on how to remain relevant and competitive in an

What is your elevator pitch?

We help leaders navigate the future within their organisation.

We look at identifying, coaching, and training what are the leadership qualities and cultural competencies we must embody, in order to attract and retain great talent, and ultimately how a business creates differentiation and competitive advantage in the marketplace.

From your vast experience, what have you identified as being the core criteria of improving one’s business?

Everyone is feeling the pressure to keep up with the pace of change. So often individual leaders – whether it’s a small entrepreneur trying to build a small team, or even large institutions – fail to articulate a compelling vision of the future in a way that establishes trust and confidence. They need to be able to articulate in such a way that it stirs the hearts and minds of people, to make them want to rally behind that vision.

When you look at what ultimately drives engagement – at the top of the list, over and over, across generations is - trust, belief in the organization, and faith in leadership. So, if I don’t understand where the business is going, and I don’t believe in you, as a leader, who can take us there, everything else falls away.

What is the common factor that you believe leaders mostly need in today’s business world?

Humility. Today, given how fast and dynamic everything is rapidly changing, leaders need to show deep humility, willing to say, “I don’t know, what do you think?” and collectively build products, services, and solutions.

It’s not showing up from that place of, “Now that I’m the leader, I have to have all the answers.”

What traits should an employee possess in order to be successful?

They must have the same level of humility that we are asking for from our leaders. I’m looking for employees that are deeply curious. That helps them identify not only new ideas in the marketplace, but where all innovation comes from in a

evolving marketplace and create high performance cultures.

In conjunction with Entrepreneur magazine, they launched a “Luminaries” entrepreneur video series, which has been renewed for a second season. Co-author of The War at Work, Mattison has been featured in The Wall Street Journal, Forbes, and The Globe and Mail.

For the past decade Mattison has shared his insights with thousands of business leaders around the world and received accolades from many of the world’s best-known brands including MasterCard, Johnson and Johnson, Microsoft, Kraft Foods, AT&T, PepsiCo, Cisco, Dow, and Disney. He spoke with The Edge about leadership, entrepreneurship, and success.

business. Innovation doesn’t have to be launching a big new, expensive, or risky strategy, product, or service. It’s looking for new ways to improve small, internal processes. Where could we do this a little differently? Where could this be better?

Simultaneously, a willingness to learn and grow from those around them.

The skills they have today are not going to be the skills they need 18 months from now. They are selfless, and willing to support and collaborate with those around them. We see people who move into protection mode, and don’t support or have each other’s backs. They need to be humble, curious, gritty – meaning they are willing to continue to grind on their craft. They know they are going to fail and will have to push through to keep scaling up.

What’s your best entrepreneurial advice?

Know what you are great at, and what you are not, so you can gather the right people around you that are going to supplement where your weaknesses lie. Do not lie to yourself, or overcompensate, or over-inflate who you think you should be, or what your skills are.

What are entrepreneurs usually wholly unprepared for?

It’s really freaking hard! Are you prepared to go a stretch without making any money? For little or no fanfare? Grinding away on the craft and business. It’s very difficult to do it alone.

It’s difficult to be great at all those different aspects of the business, to be a master marketer, brander, and understanding social media, while simultaneously being a master of the finances and numbers.

What’s your favourite quote about business?

My favorite quote comes from Otto Scharmer, a Massachusetts Institute of Technology professor. He said, “Before we can create an external shift in our organization, an internal transformation must occur within ourselves.”

Our outer state is reflective of our inner state. We can’t change our company, culture, or brand if we aren’t first willing to self introspect and make changes within ourselves. Know thyself! //

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@Toronto.DowntownAcura

@acuradowntownto

Whether you are situated in Downtown Toronto or anywhere in the GTA, Honda Downtown is proud to offer the full lineup of new Honda vehicles along with an exclusive selection of premium-quality used cars, SUVs and minivans. Visit our modern showroom situated on Eastern Avenue in the heart of Downtown Toronto. We are proud to provide you with expert advice in a warm and welcoming environment that you deserve!

2020 Honda Civic Hatchback in Rallye Red www.hondadowntown.ca 47 Eastern Ave, Toronto, ON @Toronto.DowntownHonda @hondadowntown

Sales Inquiries:

(647)-492-4427 bdc@hondadowntown.ca

Service:

(647) 493-0620 bdcservice@hondadowntown.ca

Downtown Bodyshop:

(416) 363-1688 info@downtownbodyshop.ca