The Edge, A Leader's Magazine | Michael Lee-Chin

T he Gl ob a l E c onom y

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MICHAEL LEE-CHIN Recession Proof Industries

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TOM COCHRANE KRISTIN KREUK DWIGHT DRUMMOND RENÉE MONTEZ-AVINIR BRAM A. LECKER

Visionary Billionaire and Philanthropist

On his journey to success and how to PUSH-Persist Until Something Happens

How

C L I M AT E CHANGE Impacts our Economy

EMERGING TRENDS OF FAILING

START-UPS

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OVERVIEW SPRING/SUMMER 2021

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EDITOR’S MESSAGE

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COVER STORY Michael Lee-Chin

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10 Recession-Proof Industries Canadian Waters Trading: Better Food, Better Farming, Better World Benefits of Global Competition Key Pillars of Doing Business in China

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Kristin Kreuk

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Dwight Drummond

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Renée Montez-Avinir

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Bram A. Lecker

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Tom Cochrane

NERS’ CIRCL

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WIN

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BUSINESS

OVERVIEW

SPRING/SUMMER 2021

MONEY & FINANCE How Climate Change is Impacting Our Economy

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Avoiding Economic Anxiety

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Analyzing Household Spending in Canada

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START-UP Elena Petrescu: Transformational Hypnotist

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The Emerging Trends of Failing Start-Ups

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EnRoute Cargo & Charter Inc: On the Move

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TECH AND INNOVATION The Future of the Sharing Economy

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Strategies of Business Transformation Through Technology

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Upcoming Start-Up: Fyyne

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Top 10 Fastest Growing Corporate Apps

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LEADERSHIP Canadian Leadership in the Global Economy

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Valeria Lipovetsky: From Modeling to Media

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Joella Almeida: Advocating for Equality of Access to Entrepreneurship and Health

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SPRING /SUMMER 2021 F OUNDER & E DITOR - IN -C HIEF | J ENNIFER M. W ILLIAMS P RESIDENT C URTIS E LLIS

EDITORIAL TEAM C OORDINATING E DITOR C ARLIE D OAN

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C ONTRIBUTING W RITERS & E DITORS D AVE G ORDON | R OB S HAPIRO | R OBYN K ARMAZYN | S EAN P LUMMER V ERUSCHKA M UNGROO | P ETER C AMPBELL | M ARCUS M EDFORD | O RVILLE G REEN J OSHUA C OOPER | S USAN G EBREZGIE | S TEPHANIE H AWKINS | L ISA D AY

S TAFF W RITTERS A RSLAN A HMED

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R OSE H O

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K ENNY H EDGES

C REATIVE D ESIGN & D IGITAL S TRATEGIES D IRECTOR O F D ESIGN A RMIS N. G OODARZI BUSINESS DEVELOPMENT

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editor's message

The Successful Entrepreneur’s ‘Playbook’ In an exclusive interview with The Edge Leaders, Michael Lee-Chin, billionaire, philanthropist, and veteran businessman, talked about his long journey to success that arose from gumption, courage, authenticity, and resilience.

The privilege of speaking with him provided me a rare opportunity to learn of the challenges in establishing, and maintaining, a successful business.

Entrepreneurs always need to adapt—and that is especially true when the economy continues to dip. But entrepreneurs also still need to navigate the unavoidable high risks of running any business. Survival depends upon perseverance, adapting to new strategies, and a deep passion for growth.

With these concepts in mind, I’m delighted to share some more take-aways from the interview, a list I consider to be an entrepreneur’s “playbook” for success.

Avoid Complacency Most businesses hit a plateau, and it’s not uncommon to become comfortable with the status quo. But an honest assessment of operations can help realize periods of ruts and dry spells. The key is to figure out how to improve overall productivity and morale. Ultimately, ditch every form of mediocrity, and eliminate anything—or anyone—that slows the business operation, or creates a bottleneck.

Learn New Skills I have seen that even the most successful owners can have deficiencies in sales, marketing, finance, and leadership skills.

Research suggests that, at some point, an entrepreneur should go back to school, or upgrade where they are lacking in knowledge or skill set. Going back to school is a soul-searching decision, and a rewarding and valuable investment in the long haul. A strong commitment to learning makes the difference between moderate success, and great success.

Don’t Put It Off Everyone at some point procrastinates.

I’ve been guilty of postponing some highly crucial decisions. I’ll admit, there have been times I’ve not acted when it was needed, such as transitioning an

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employee to a better role, or failing to demote underperformers. Guard against anything that stops your desire to move forward.

Know Your Customers Before embarking on any new marketing or sales strategies, take time to know, study, and maintain your customer base.

The long-term goal is to improve customer satisfaction. To that end, work with your teams to develop clear plans of action for identifying your customers’ needs.

Don’t be afraid to roll up your sleeves to use straightforward and practical tools to improve those business relationships, such as providing them a platform to offer you feedback.

Commit to Diversity Businesses and core missions play a crucial role in shaping society. So, an ongoing commitment to, and adoption of, diversity initiatives are paramount. Failure to be pro-active on this could result in a gradual decline in employee morale, and even customer relations. Each of us can exercise our influence through our beliefs, values, words, actions, and others’ acceptance.

America, we must support our families, customers, employees, neighbors, friends, and communities. Even though people will make mistakes in uncertain times, it’s important to stay focused on our jobs, adjust our lifestyle when necessary, and avoid the culture of fear. Keep moving, and stay balanced, to bounce back and thrive.

Empathy Now is the ideal time to offer compassion, gratitude, love, and kindness to those you encounter, because we are all morally responsible to help each other.

As always, thank you for the trust you place in us. We look forward to our ongoing partnerships and the opportunity to be of service.

Multiple Revenue Streams Entrepreneurs must diversify their goods or services. Build multiple streams of income around a model that is viable and sustainable. If one or more projects or businesses fail, accept the failure, and quickly create new, better, and more modern structuring systems. These lessons will help your next business venture overcome future challenges.

Embrace Adversity Life will likely throw you down repeatedly, with difficulties that can sometimes create ripple effects. When hardship and problems come, have the will to be courageous and face them head-on. Being oblivious or unprepared could be messy, confusing, and chaotic. Some of the most successful entrepreneurs endured very dark, heartwrenching, and disruptive periods in their personal lives and businesses. But they stayed the course and succeeded through sheer determination and inner strength.

Resolve Given the COVID-19 pandemic, and the ongoing racial unrest across North

In-Service of Entrepreneurship,

Jennifer M. Williams jennifer@theedgeleaders.com

“Ditch every form of mediocrity and eliminate anything—or anyone—that slows the business operation or creates a bottleneck.”

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cover story

PROSPERITY WITH CARE A Conversation with Michael Lee-Chin

by Jennifer M. Williams

Even as a young man, Michael Lee-Chin knew that achieving success often means taking risks and reaching for the top rung. Emblematic of this was his letter to the prime minister of Jamaica, explaining that he was desperately seeking financial aid to continue his civil engineering studies at McMaster University.

His plea was so convincing and his grades so impressive that even the prime minister of Jamaica knew Lee-Chin was someone to invest in. Lee-Chin subsequently received subsidy covering the next three years of his education. “When you need help, it’s a no, until you ask for it,” he maintains.

Jamaican-born Lee-Chin’s ambitions led him from modest jobs as a teenager, working as a hotel landscaper and cleaning the engine room of a cruise ship, to financial success a little more than two decades later. Today, the Jamaican-Canadian is in rare company as a Black billionaire businessman and philanthropist who currently sits at number 1,063 on the Forbes list. He is Chairman and CEO of Portland Holdings Inc., a privately held investment company.

Michael Lee-Chin’s philanthropy is vast, including sponsoring hundred of tons of meals to vulnerable communities in Jamaica and pledging and donating money to the Royal Ontario Museum, McMaster University, and the Joseph Brant Hospital Foundation. His donation to the Rotman School of Management at the University of Toronto established the Michael Lee-Chin Family Institute for Corporate Citizenship.

The Edge Leaders had the opportunity to ask Lee-Chin questions about his career, and in return, he offered his insight, life lessons, and bold suggestions for entrepreneurs.

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"COVID-19 teaches us to plan properly and have some liquidity to take us through when we get ambushed."

You’ve been active in the financial sector since you were 26 years old, during which time you have persevered and excelled in this industry. What motivated you to continue this career path?

I am driven. I will do nothing unless I am stirred by a purpose.

The mission has to make sense for me to fully embrace it. When I first got into business, I had to cold-call clients, and when I would sit with prospective clients around their kitchen table, I’d ask myself the question: “What is the highest value that I can give to this family as an advisor?” And the answer came back to me as, “Make them wealthy.” That’s the highest value I can give to anyone I’m advising. I have a protocol that I go through when I’m trying to solve a problem. I observe, number one. From my observations, I create a hypothesis and then I stress test the hypothesis to see if it makes sense.

My purpose is to lead by example and show people that they don’t need to be born wealthy. They don’t need to steal. They don’t need to marry wealthy, and I’m living proof of it.

You’ve received several awards—including The Order of Jamaica and The Order of Canada—for your significant contributions to business and philanthropy. Which award has the greatest importance to you personally and professionally?

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To live a fulfilled life, you must articulate what that means. So, what a fulfilled life means to me is one where I do well for myself, and I also do good for society. And I codified that which I just mentioned, in a mantra: "prosperitas cum caritate"—prosperity with care’. You must be prosperous, but you also have to care for your community, your province or your parish, your country, and the world. That is fulfillment to me.

You were ranked number 1,063 in the world on the Forbes Billionaires list, number nine on the world’s list of Black billionaires and, so far, you are the only individual from the Caribbean to hold that ranking. What does this recognition mean to you?

In my case, the fact that I am one of the few Black billionaires in the world—you look around, and you see how many Black people there are in the world. Lots! Here’s what it means to me: I have an opportunity to live a life that’s an inspiration to others, who can say “Look, that man looks like me, he sounds like me, he eats the same ackee and saltfish like me—he’s one of us!”

What distinguishes Portland Holdings from other financial firms?

Portland Holdings is run by an entrepreneur—me. Most financial firms are run by agents of the owner, not the owners themselves.

[It’s] a big, big difference because as the owner of your house,

cover story

you will make sure everything is perfect within your house. When you hire someone to look after your house, it’s not the same.

Most financial services need validation from what the herd is doing. I don’t need that validation. If I needed to feel that way, I wouldn’t be where I am today. I would be just part of the herd.

Do you think that privatization currently exists in Jamaica, if so, to what extent does it affect the economy and GDP? Privatization is accelerating in Jamaica. Last year, we privatized the Wigton—it’s the wind farm. We also privatized the Trans Jamaican Highway, which is the entire roadway in Jamaica.

When you privatize a business, you’re taking it out of the hands of government, and you’re putting it in the hands of the private sector. Government[s], historically, have not run businesses well.

So now you have a business, and you privatize it, mainly to thrive and become successful long term.

How do you think entrepreneurs across the globe should deal with economic fear and anxiety based on the effects of the COVID-19 pandemic on their businesses and personal lives?

I would encourage them keep on pushing hard. I’m going to use the word pushing… PUSH is an acronym, and it means "persist until something happens." Keep pushing. Once you set your course, and if it makes sense, PUSH. If it doesn’t make sense, then you should pivot.

How does COVID-19 affect investment choices?

COVID-19 came and it will go. When you invest, you should invest for the long term. You should look at an industry and

see if it’s going to be here for the next 10, 15, or 20 years. So, if you’re a long-term investor, COVID-19 should not affect your choices. But if you own a restaurant, you must make sure that you can survive the long term. One of the factors you should consider is that when you invest, you have enough liquidity to survive. You can’t just put everything into the business and not have any liquidity. Even if you own a restaurant today, you know that one day there’s going to be light at the end of the tunnel, and COVID-19 will be behind us by next year. COVID-19 teaches us to plan properly and have some liquidity to take us through when we’re ambushed.

Is now a good time to invest through the stock market? If so, what are the best types of investment, and why?

You need to find people you can trust, with experience and a reputable track record. You don’t just give money to anyone to invest because most people have no track record of creating wealth.

In today’s globalized world, what is your take on the key benefits of diversity and inclusion in our organizations and political spectrums?

Thank God the tide is now changing, and we must make sure it’s sustainable because what is most likely to happen is this could be just a fleeting moment. The companies that are not diverse are missing out on an opportunity to look at their customers through a different pair of eyes. When companies have too many of one group of people, they’re not seeing the perspective of other people—especially in Canada, where Toronto is now 50 per cent visible minority.

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You can’t sit in the board room without having visible minority representation and know what the visible minority wants.

We’re the bulk of your community. If you’re sensitive to customers’ needs, it should be represented throughout the corporation, starting with the board of directors. By having that sort of representation, that’s the only way you’re going to know and understand.

The government of Canada has pledged $221 million to help Black-owned businesses. What do you think is the best way Black businesses can benefit from this investment? How will this strengthen the cultural heritage of Black communities?

I don’t know if the $221 million will trickle down to the Black community. This is something I’m not too sure about. It’s a nice headline number, but where the rubber hits the road is how much of that $221 million will be distributed and allocated appropriately and fairly?

One of my questions: What is the mechanism being used to assure that this money reaches Black communities? Now if it gets to the communities, there has to be some type of training on how to utilize the funds to build businesses and the community. If you give people money, and they have no training, they’re going to blow it. There must be coaching. There has to be mentoring.

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Tell me about your philanthropic work with The Michael Lee-Chin Family Institute for Corporate Citizenship?

The purpose of that benefaction is to help some corporations realize that they have to be socially conscious because only when they’re socially conscious will they tie themselves and ingratiate themselves to society. They’re intertwined with the ails—and the gains—of society.

On many occasions, you’ve said that the Jamaican community was supportive in your business initiatives during your early years. How did they support you, and how have you given back to the Jamaican community?

I have been referring to the fact that I worked for a year in Jamaica before migrating to Canada to attend university.

I saved enough money for one year of university: room, board, tuition, books.

After the first year, I didn’t know where I was going to get my second-, third-, or fourth-year tuition, room, [or] books. I didn’t know where the money would come from. I needed $2,000 for the year. So, I took a job as a landscaper on campus at McMaster University. Working from April until July, I saved $600 and there was no way I could generate $1,400 in the next month and a half.

I was desperate. I’m not from a wealthy family, so I wrote to Mr. Hugh Shearer, the

prime minister of Jamaica. I said, “Prime Minister, I’m an engineering student in Canada at McMaster University, and I’ve been writing to you and your services commissions, asking for help, and so far, no one has responded. Prime Minister, I noticed that every year, you send an emissary of recruiters to recruit new graduates, but you can’t harvest unless you sow.” A month later, I got a letter from the Prime Minister of Jamaica and it said, “The next time you come to Jamaica, come see us.” I took $400 out of the $600 I earned, bought a ticket to Jamaica, and went directly to the prime minister’s office. I met with his primary secretary and showed him my university grades. They gave me a scholarship for the next three years of my university—$5,000 per year. When you need help, it’s a no, until you ask for it.

What has been your most significant failure? How did it change you, and what lessons did you learn from it, that you apply to your life?

My most significant failure was when I sold my two businesses, Berkshire and AIC, in 2007 and 2010. Looking back, I shouldn’t have sold them. But I learned from that experience and later got back into business in Canada, continuing the same asset management operations. Due to the financial crisis, it was a financial loss for me when I sold the businesses. Today, I’m a lot stronger because of that experience and I managed to bounce back but with a stronger purpose and set goals. //

www.jnbank.com

Lower 36 Queen East Street, Goodison Building Brampton , ON , Canada, L6V 1A2 Spring | Summer 2021

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business

TEN RECESSIONPROOF INDUSTRIES

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by Stephanie Hawkins ur economy is constantly being influenced by numerous factors. Although these variables are continually changing, one of the biggest impacts this year has been the COVID-19 global pandemic. Both directly and indirectly, it has had a major influence on our day-to-day activities, on our lives at home, our budgets, and on large and small businesses. It has set a precedent for how we think about our jobs, investments and what we regard as being recession-proof industries.

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Recessions are not new phenomena. Canada is currently in a recession, which has been driven by the impact of COVID-19 on the economy. When examining uncertain times, where money and opportunities could be limited, it is important to know which areas of the economy will be able to weather the storm of a recession and the challenges that it brings. However, even allowing for the additional stress and uncertainty of COVID-19, it is still possible to assess industries that will remain resilient despite such difficult times.

business

Healthcare When looking at the impact of a global pandemic combined with a recession, it is clear that, under all circumstances, healthcare remains essential to our economy. Frontline workers are facing the brunt of the COVID-19 effects, while trying to keep everyone safe and healthy (simultaneously navigating new information and processes). The healthcare system benefits from covering many different services under its umbrella. Not only does it include such things as hospitals, clinics, family doctors and long-term care homes, but it also benefits consistently from the demand for essential pharmaceuticals and medical equipment. Like other industries that had to pivot during COVID-19, healthcare is embracing and navigating this change, including telemedicine, with easily accessible Canadian options such as Rocket Doctor and Maple.ca. Even when spending is limited by a recession, money will continue to be spent on healthcare.

including providing vaccinations. The pharmaceutical industry will continue to invest in research that will lead to long-term gains and will play a vital part in moving the economy through this recession.

Grocery Stores Groceries are a staple—unlike restaurants, which have been heavily hit by COVID-19 lockdowns and restrictions. Supply and demand for groceries will continue to stay strong, even amid economic uncertainty, particularly when restaurants are not an option. Consumers also have the benefit of a wide variety of grocery-store options, from lower-end discount chains to high-end gourmet grocery choices. Many third-party delivery services are also connected to these grocery stores, making access even easier for consumers and even more profitable for the stores.

Home and Office Renovations

Being aware of your budget and maximizing what you can save during a recession is key. Discount stores offer a wide variety of products, from household items to food and drink. Many consumers may have to adjust their budgets and discount stores help significantly by having a positive impact on their bank accounts. Consignment stores can also be greatly beneficial as price points for products are much lower than at regular retail stores, allowing for spending on both essential and non-essential items while staying within a budget.

Staying home has become a new reality for many, and as a result, home renovations and do-it-yourself (DIY) projects are on the rise. This can mean simple repairs around the house, a new home office space, or a major renovation that preCOVID-19 would have involved hiring outside companies. With so many people taking on these tasks, home renovation and hardware stores are busy and doing well. Once thought to be more of a luxury, the pandemic has shown that certain industries, including house repairs and renovations, are potentially more recession-proof than previously thought.

Pharmacies

Automotive Repair

Gone are the days when going to a pharmacy meant that you could only fill a prescription and purchase very few items; nowadays, most pharmacies offer a wide variety of products. As an essential service, they will continue to stay open and thrive in a recession, especially since many consumers rely on them for potentially life-saving medications. As mentioned with healthcare, pharmacies are also fairly recession-proof, not only through filling prescriptions but also by acting as a vital component of public health services,

During the current recession, individuals and companies are less likely to spend money on brand-new vehicles and are instead focusing on ways they can service, maintain, and extend the longevity of their current transportation options. A new vehicle is a major commitment and with the uncertainty that comes with a recession, it’s one that many would prefer to avoid.

These circumstances benefit the automotive repair industry, which can help in keeping older vehicles on the road through routine maintenance and repair. The demand for these services will likely increase during difficult times.

Discount and Consignment Stores

Utility Companies Whether a person works in a high-rise condo in the middle of a major city, an office, or a house in the suburbs, there’s still the universal need for energy. Electricity, gas, water, and even phones are an essential part of day-to-day life, regardless of the state of the economy. Utility companies are a recession-proof industry that will continue to operate, even as the physical location of where work is taking place continues to shift and evolve.

Alcoholic Beverage Industry Due to COVID-19, we may have been unable to go inside our local bar to enjoy a drink with friends. However, the alcoholic beverage industry has made up for this, to a large extent, by increased sales for home consumption.

Wine, liquor and beer sales continue to do well, even as other industries struggle. Hopefully, this success is another sign that we are making progress in navigating through this recession.

Cheers to that!

Information Technology With the restrictions of a global pandemic, our “new normal” involves a lot of screen time using computers, tablets and smart phones. Whether it’s a boardroom meeting, updating your computer systems to be able to effectively work from home, or helping a child with online classes, the use of technology is a daily necessity. You may not be an expert (yet), but as technological needs continue to adapt and change, you can start to have a better understanding of various aspects of technology, including coding, with such options as LinkedIn Learning courses. Every little bit helps when our hours in front of a screen are continually on the rise.

Pet Needs Thankfully for our pets, the importance of taking care of our furry friends has continued.

Animal rescue organisations and local humane societies have seen an increase in adoptions from those interested in finding animals their new forever homes. Pet stores for daily supplies such as food (and maybe a new toy or two) are continuing to run throughout the pandemic.

Working from home can have its own unique challenges, but your companion certainly isn’t complaining about having you around more. //

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INDONESIA

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hen you think of Indonesia, your mind often goes to Bali, filled with exciting people, lush green forests, and ancient architecture. But there’s more to it than that, according to Leonard F. Hutabarat, Ph.D., Consul General of Indonesia in Toronto, Canada.

Indonesia is a member of the G-20, the world’s fourth most populous nation, as well as the largest economy in Association of Southeast Asian Nations (ASEAN) and it may serve as hub for a larger ASEAN with its more than 650 million population. Indonesia has the largest chain of islands globally and isn’t limited to Bali or its amazing views. Indonesia is looking to expand into the Canadian market to grow trade between both nations and for m a stronger partnership.

Not many know that Indonesia has a global company for the food industry, called Indofood, and is a seafood source, most notably of tuna.

Indonesia can produce oil, gas, crude palm oil, minerals, rubber, textiles, glass, and lumber—directly sourced from its many tropical forests, among various other advantages.

It’s also responsible for producing the following resources and industries: • Electronics, Cable and Audio • Footwear • Lumber, Furniture • Tile Ceramics, Wall Ceramics • Seafood • Steel, Construction Equipment • Oil, Gas and Minerals • Agriculture and Spices: Vanilla, Cocoa, Coffee, Pepper, Cinnamon • Spare Parts Indonesia is also proud to be partnered with its first food and distribution company in the Canadian market, Canadian Waters Trading.

W ith more than 270 million people and over 700 languages spoken, Indonesia is a place no one can afford to overlook.

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Leonard F. Hutabarat Ph.D. Indonesian Consul General in Toronto, Canada 129 Jarvis St, Toronto, ON M5C 2H6 | email: trade@indonesiatoronto.org

Indonesia goes far beyond Bali, just as Asia goes far beyond China, Japan, and Korea. For Hutabarat, Indonesia is at the heart of Southeast Asia; there’s a lot to discover and explore.

“Seeing is believing. People will not know Indonesia, but when you land in Indonesia for tourism or a business trip, you will have an idea.” It isn’t like any other place in the world, and once you get there, you will be begging yourself to spend more time there.

Indonesia is a unique, tropical country. If you want to find an experience in the tropical forest and tropical climate, then you can consider Indonesia as quite different compared to Mexico or Hawaii. “Whoever visits for the first time—I’m sure they’ll be a frequent flyer to Indonesia,” adds the Consul General.

Aside from its many trading possibilities, citizens of the world (not only Canada) will enjoy the music, culture, food, and discoveries that Indonesia offers. With countless islands to explore, tourists will find themselves on a jour ney of a lifetime, all while enjoying the country’s many surroundings.

A week-long vacation won’t be enough for what Indonesia has to offer, and you won’t regret one aspect of it.

Like any place, Indonesia has a story to tell. Once you return home, you won’t even notice that you volunteered to share all the fantastic things you experienced. //

Canadian Waters Trading Better food, Better farming, Better world.

Canadian Waters Trading (CWT) is a food distributor and importer located in Toronto. We specialize in seafood, spices, coffee, and beef, along with a wide array of other products. We have a strict policy of ensuring client satisfaction and experience while also meeting any and all of our clients' needs.

email: info@canadianwaterstrading.com tel: (905) 926-3085 Toronto, ON, Canada M5V 3L9 www.canadianwaterstrading.com

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business

BENEFITS OF GLOBAL COMPETITION

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by Sean Plummer all it patriotism or convenience but Canadians prefer to buy Canadian. Many of us buy our shampoo at Shoppers Drug Mart, shop for groceries at Loblaws, and fly Air Canada. And our morning commutes often include a stop at a Second Cup. According to a survey conducted by Rakuten (a cash-back shopping site), 92% of Canadians have reported buying local brands and products, of which the top five commodities are food (87%), beer (46%),

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clothing (45%), furniture (38%) and wine (34%). Whether one attributes these statistics to patriotism or convenience, the underlying factor is that most Canadians prefer to buy Canadian, although this may not hold for all.

Further research suggests that Canadian consumers sometimes abandon their homegrown business heroes to patronize foreign-owned competition for various reasons, including greater product variety, better quality and pricing, and a superior shopping experience. The

business

most recent example cites a combination of all of the above factors resulted in the downfall of Canadian clothing retailers Jacob, Laura and Smart Set in the wake of foreign fast-fashion brands like Zara and H&M expanding in Canada.

What can Canadian businesses do to compete, survive and even prosper in their respective markets against local-global competitors?

Challenging a foreign competitor is not easy, considering that with their growth and expansion into Canada comes an established brand, financial resources, marketing assets, superior technologies and well-established production efficiencies. However, there is no guaranteed success. The most famous examples include Krispy Kreme's initial 2005 bankruptcy after a strong launch in 2001, Target Canada's spectacular failure in 2015, and Forever 21's decision in 2019 to shut down their Canadian operations.

Canadians have an added advantage in a stable economy: relatively high salaries and a fraction of retailers' competition in the United States. Ultimately, what holds us back—both at home and abroad—may not be demographic hurdles as much as a state of mind, according to a 2017 Financial Post article, "How Canadian retailers can give U.S. competitors a run for their money."

Here are some tips to consider when taking on global megacorporations in the local Canadian market.

Know Your Market Do ample research into the local market. While larger global competitors may have the resources to do in-depth brand studies and market analyses, they don't have the boots-on-the-ground perspective of a smaller firm with the added advantage of experiencing the local market every day. Capitalize on knowing your neighbours' consumer habits and social circles by creating products and providing services that match local conditions.

Act Local But Think Global Always think globally in terms of delivering the best product or service, even if you have just expanded to one other store because of the foreign competition (most likely from the U.S.). Even if the impact of foreign competition is not inevitable, use it as a motivational hedge against complacency, as stated before.

Create a Better Customer Experience Take advantage of the current situation. In the wake of COVID-19 and the closure of international borders, political leaders have urged Canadians to support local. It is now up to you to take the reins and offer your customer a high-caliber shopping experience, which will result in better online reviews. According to "The eMarketer Ecommerce Insights Report," conducted in February 2018 by Bizrate Insights, 93% of customers read online reviews before buying a product or using a service. Connect with your customers, improve your brand image and encourage positive buying recommendations.

Shopping local has never been so important. Canadian companies that provide unique goods and services that are moderately priced or offer a bespoke experience have a significant advantage over foreign competitors.

Always Innovate

Respond to The Local Market

Starbucks' entry into the Canadian market in the 1990s (it softlaunched in Vancouver in 1987) was a big challenge to the Torontofounded national brand, Second Cup. The Seattle-based company had a more vertically integrated management strategy, modern branding, market saturation, an expansive food menu, and more coffee options. Second Cup was later struggling for a market share in the 2000s. Their 2018 rebrand was only semi-successful in restoring coffee lovers' good graces. The consensus was that Second Cup's decision to “keep on keeping on” in the wake of Starbucks' play for its customers left it behind in terms of public perception and, hence, profits.

Another added advantage that local companies and smaller businesses have over their global competitors is the minimal red tape and the ability to perform fast decision-making, aiding in a quicker reaction to trends, opportunities, and threats. Large foreign firms are accountable to boards of directors who can threaten to pull up stakes if profits don't match up to forecasts.

That ongoing pressure to innovate and create better products or offer better services as a response to global competitors may create a certain existential unease among Canadian businesses. But as Shopify CEO Tobias Lütke told Report on Business regarding the importance of competition: "[I]t's … harder to build a company with a lack of competition than when one has significant competition.

Wanting to relentlessly create a better product every day is much easier when you are under threat by some competitor."

The prospect of competing with global companies can be a scary one for Canadian businesses. But there are benefits—if you're willing to face up to the challenges. Taking advantage of your local knowledge, being innovative and providing customers with a better experience can lead to a leaner, more profitable business. //

Their size also means that pivoting to accommodate local markets —let alone individual customers—isn't easy. By definition, small Canadian businesses have the agility and ability to respond to market changes and their customers' needs.

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business

THE KEY PILLARS OF DOING BUSINESS IN CHINA

by Robyn Karmazyn

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business

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hen it comes to your business, how you choose to manage your operations in Canada (and perhaps the United States) will be quite different once you cross overseas—particularly into China. This influential nation has not become the global superpower that it has over the years by accident. As a more affordable place for labour and manufacturing, it may be fair to say China is the destination of choice for many large businesses around the world.

Respect the Culture Operating your Canadian business in China might seem daunting—and it should be. Quite understandably, there are many differences between our nations, from our language and culture to our beliefs and politics. One example of failing to show respect is Disney’s 2020 live-action movie Mulan, which was filmed a few years ago in a politically sensitive area of China. Ultimately, this movie upset foreign activists and viewers and led to overall negative reviews in the North American market.

What people were unhappy with more than the film itself was an American company failing to do its homework. Sure, achieving success should play a pivotal role in the choices you make when scouting locations and partners in China, but it shouldn’t come at the expense of insensitivity and disrespect. Researching the vast Chinese geography, government regulations, and societal norms is prudent for any business looking to enter the Chinese marketplace.

Speak the Language One of the many obvious contrasts between Canada and China is our culture, including the languages we speak. Although your Chinese partners may adapt to speaking English (as many people internationally have done so), reciprocating by learning their language—especially when visiting or operating in their home country—can mean the difference between success and failure. Being able to communicate with each other naturally helps to remove a barrier and reduce the chance of literally being lost in translation.

Even within China’s borders, there are numerous ethnicities and languages

China possesses an incredibly fast-growing economy, being the leading market for cars and phones, not to mention Canada’s second largest export market. But navigating through China’s business community to determine where and how you can succeed will take some serious effort on your part. The Western world as a generalization is notoriously ignorant about the discrepancies between it and other countries. Before fully setting up business in China, consider the following key pillars.

spoken based on location. Truthfully, you may not be able to learn the various dialects that are spoken throughout China, but ensuring there is at least one person on your team who can effectively communicate with local partners in the country will go a long way to solidifying relations there. For those not fluent or supremely confident in the language, keep any necessary conversations you have about business as basic as possible.

Be Mindful of the Politics Unlike the democratic structure in Canada, China has an authoritarian government with much more stringent rules on all aspects of life. That includes business and how day-to-day operations may be handled.

Coincidentally, however, Canadian products arguably have a better reputation in the country than Chinese products as consumers assume they are approved by regulators and deemed to be safer for consumption.

With that in mind, companies from our own soil can do well to expand into China and take advantage of the positive perception that their consumers have of Canadian products. However, business owners should also learn and understand the “national targets” laid out by the Chinese government, while simultaneously relying on our own Canadian government to help navigate through the process.

Consider the Area Although many larger cities in China attract business from Canada and elsewhere, some of the smaller cities offer a clear alternative.

Two clean-tech companies from British Columbia in particular, BQE Water and Corvus Energy (the latter of which works

in wind power), formed joint ventures with a Chinese mining company in Shangrao and partnered with a Chinese firm in Dunhuang, respectively, facilitated by the BC premier. Since forming, both companies have experienced steady growth.

You may be surprised to learn Shanghai and Hong Kong aren’t the only game in town. But as in other parts of the world, there is more affordability in starting small and a likely payoff in being part of the growth. Don’t necessarily write off bigger cities either, just because they may seem more expensive or saturated.

Regardless of where your instincts are pointing you, thoroughly researching Chinese geography will help you settle on the locale for your operations.

China as a Business Partner We all know some world relations are strained right now and business is evolving even more drastically, due to reduced travel and an increase in people (and entire companies) working from home. Despite the socio-environmental encouragement to buy locally, Canadian organizations should not overlook the potential of partnering with China. Smaller businesses can do more than offer a folksy alternative to big corporations—they can look to expand.

Consider the notion that stretching beyond our own country and aligning with other companies in the amazing powerhouse that is China is not a sellout. It is simply an explorative way to help you grow your organization. It will require some serious investigation and investment in resources but focusing on the aforementioned key pillars can certainly pay off. //

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TOM COCHRANE

by Dave Gordon

Photos courtesy of Tom Cochrane

A As 2019 came to a close, it was a year Tom Cochrane had already performed a string of shows to tens of thousands of people and released two albums (Revisited and Bare).

But—like with everything else in this mad, mad world —in just a few months things changed dramatically. 2020 meant the cancellation of nearly thirty of Cochrane’s shows, the longest stretch he’s had in decades without a live concert.

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But that didn’t mean the lockdown had locked down his song writing. He’s been hard at work penning new material, being one of the few rock acts of his generation still churning out the tunes.

He hopes by the summer of 2021, things will be “semi-normal” enough to gather for performances, and it will be the right time to release new music.

For the uninitiated, Cochrane has released 20 albums since 1974, solo or with the Red Rider band. The hits—including “Ocean Blues,” “Boy Inside the Man,” “Big League,” “Lunatic Fringe,” and others—have sealed his status as a rock icon.

In a bold launch of his solo efforts, the 1991 single “Life Is a Highway” soared on the charts, and together with its Mad Mad World album, sold six million units worldwide. Thirty years later, the rock anthem still gets regular rotation on the radio, and in recent years, tens of millions of clicks on streaming videos.

Songs of his have been featured in television episodes of The Office, Miami Vice, Baywatch, Melrose Place, and in films Bill and Ted’s Excellent Adventure and Disney’s Cars.

Over the course of his career, he’s shared the stage with Rush, Bruce Springsteen, The Beach Boys and other recognizable names.

Honoured numerous times for his contributions to popular music, he’s won eight Juno Awards, received a Grammy nomination, and was appointed both member of the Canadian Music Hall of Fame and an Officer of the Order of Canada, among other accolades.

The Edge caught up with Cochrane to discuss the business of show business and how he’s managed to keep going after nearly 50 years in the music industry.

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To what do you attribute your longevity, with nearly fifty years as a recording artist?

We just always put such a strong focus on the work, and on the music, and the reward of being able to make a living at it, and just uplifting people.

People come to you and they say, “That song changed my life,” or “It got me through some really tough times.” And that stuff means the world to me. That's really what it's about. That's what kind of shakes the tree and makes songs fall out of the tree.

myself more. I see myself more as a singer-songwriter, first and foremost. That's my stock and trade. That's how I started. I'm a storyteller.

Tom Cochrane's secret to success is ….

My secret to success is probably being stubborn. [The secret is] I didn't really sound like anybody else. And so, I think that's a big part of it. You got to have your own identity; you got to have your own signature. I got my own signature. I got my own voice. //

How do you keep performances fresh when you've performed songs so many hundreds of times?

They always feel fresh to me. I love playing stuff acoustically. I do a lot of acoustic shows. I'll tell you albums very cherished would be The Symphony Sessions and Songs of A Circling Spirit; a lot of those songs were recorded live on that acoustic tour.

I love breaking the songs down and doing them acoustically, and that way the songs change all the time. That's a big part of keeping it fresh too. It's just changing up instruments, sometimes changing the approach.

Can you comment on how to keep sane in a tough industry?

I'm just always amazed the ugly parts seem to happen to so many bands.

It always amazes me, just how a lot of cases, people have shared interests, and they start out playing together in a basement or garage. And inevitably, so many bands let the trials and tribulations in the storm of touring, the business, and so on, tear them apart.

There's few bands that survive the rigors of touring, celebrity and fame without having a breakdown. The ones that do survive, probably got along pretty good, from what I understand, like Rush, U2 and AC/DC. There's a lot of pitfalls in this state. And I'm amazed that I got through a lot of it without too many bruises. But it does absorb you. It does kind of put a lot of pressure on your domestic life.

And very few survive it really intact that way. It's very hard.

But it's what I've done for years, the touring and being in the studio, and making records.

“Rock star Tom Cochrane”—you hear that, and what do you think?

Ah, I get a smile on my face. I used to hate the term, like always in written interviews or articles—“Rocker Tom Cochrane.” And I always found that offensive because it was just a label they would stick on it.

I'd like to think my music has a little more depth than that. But because I am a rocker, I do like that side of it. I also like the acoustic side. I came out of that folk scene. I played a lot of those folk clubs.

The folk tradition of telling stories and songs has always been very important to me and dear to my soul. And that's how I see

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KRISTIN KREUK

by Dontei Wynter

I It’s not uncommon for actors to step behind the camera after years of perfecting their craft, and Kristin Kreuk is no exception. In the fourth season of her hit CBC show, which premiered on January 28 at 8 p.m.

ET, the Burden of Truth star gets to add executive producer to her extensive resume. There are always several producers responsible for different tasks with any TV project, and The Edge had a chance to catch up with Kreuk on what it means for her to produce and act during the COVID-19 pandemic.

Photo credit: Shauna Townley Caption: Kristin Kreuk stars as ‘Joanna Chang’ in Season 4 of Burden of Truth

Since you’re also wearing an executive producer hat, what does that mean for this series?

This series has meant a few things for me. Initially, it indicated that I was part of the team pitching and then developing the show. Later, I was involved in the creative aspects of the show.

Although [there are] many experienced executive producers on this series, I have mostly used the status to learn and grow.

I know Covid-19 is the last thing you want to talk about but how have you been finding work with all of this? How has production changed?

Working during a pandemic has been a challenge. For Eagle Vision, it meant developing and implementing protocols to

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protect everyone working on the show; these protocols were manifold, including PPE, social distancing measures, eating and drinking protocols, and reduction of hours to ensure everyone was getting rest. Of course, some of the fun in shooting the series is no longer there, but the set is a safer place to be working.

Honestly, one of the more challenging aspects of this was the increased difficulty in communicating and connecting due to being unable to see people’s faces.

What Covid-19 procedures did you take while both on and away from set?

In addition to on-set protocols, [due to] Covid-19, while I was off the set, I was at home or outside.

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You seem to always portray strong, confident, and powerful women, from Smallville to Beauty and the Beast and now Burden of Truth. Are those qualities you look for in a character, or has it just been a reoccurring happy accident?

I wouldn’t say that any of these characters were confident. Perhaps they put up a front of confidence, were satisfied in one aspect of their lives, or eventually developed a degree of faith, but, to me, they were/are all deeply insecure and uncertain. But yes, each woman had some power, whether it was through their career (a detective, a lawyer) or through powers they eventually acquired (Lana [on Smallville]), and they each are strong (or stubborn, [ha]) in some aspect of their lives. The three characteristics you mentioned are perhaps how others may perceive them, but not how they perceive themselves, which doesn’t answer your question.

I am not 100 per cent certain what I look for in characters, and I think it is ever-changing, but I want to see someone struggling.

How is this season of Burden of Truth different from last season?

Season 4 of Burden of Truth explores what it means to move forward in life with a full acknowledgment of the past. We always carry the past with us; our present and future contains our childhoods, our ancestors, our hopes realized and not, our betrayals, losses, loves, wins, and the mistakes we’ve made and damage we’ve done or have had done to us. Season 4 explores this through each of the characters as they make life-defining decisions. For Joanna, this is examined through parenthood and how she chooses to deal with one of the most damaging things she did as a young lawyer. But each character is confronting; this is a unique way. I think this season is the most well-rounded one yet. //

Photo credit: Steve Ackerman Caption: Joanna Chang (Kristin Kreuk) at the mine, looking for information to help her client

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DWIGHT DRUMMOND

by Dontei Wynter

T T h e o l d s ay i n g “childhood dreams do come true” has certainly held true for CBC’s primetime Toronto News anchor and veteran television journalist Dwight Drummond.

Despite his humble beginnings growing up in the notorious Jane and Finch area and as a Jamaican immigrant to Canada, Drummond defied all odds, and emerged as one of Canada’s “Best Local Newscasters,” according to his prestigious Canadian Screen Award.

The Edge caught up with Drummond to chat about the impact of COVID-19, his personal challenges and the future of media.

As a national journalist, there’s no doubt that there was a shift in your job since COVID-19. How has your job changed because of this and how have you personally adapted to these changes?

Personally, not a lot has changed as I am considered an essential worker and go to work every day. CBC has adapted well by setting up studios in relevant employee’s basements but for me it was not feasible. It has certainly been different in terms of processes and protocols as the writers and editors work from home, but we have been able to pull it off. We have adapted and evolved.

Due to COVID-19, industries around the world had to restructure. What were some of the distinctive changes and/or innovations you noticed in the media industry and how do you believe this will impact society’s interaction with each other and the media?

We are in a state of flux with the media presently. We tend to

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Photos courtesy of Dwight Drummond

politicize the media. People forget we are in this together as a society. We are not only working as journalists, but we go home to our families and we live like anyone else. The demonization of the media is something I worry about—like we’re picking sides instead of helping each other. We are the voice of the people, so when I ask you a question, I’m not asking for myself—it’s because the public wants to know.

The other problem which is a worrying factor is that the general public cannot differentiate between a columnist and a reporter.

The lines have been blurred and it’s our own fault in the media.

When one is watching CNN or Fox [News] at night—they’re not reporting, they are commentating. I call it “infotainment.” There is a confusion as to what is actual news and someone’s opinion.

What is a typical day in the life of Dwight Drummond at CBC? What’s your favourite and least favourite part of the day?

When I awake—I’m a news guy—I usually start my day with World Report on CBC, which has become a tradition. At 11 a.m., the

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team has a brainstorming session—the writers, producers, and reporters put our heads together for the broadcast.

What qualities do you think make a good leader and how do you lead by example at work?

Some days, I may do an outside broadcast with the cameraman.

After returning to the studio, the team goes through the lineup and we begin doing pre-shoots.

It is important to hear what people have to say and really listen.

When leading a team, one has to be open to ideas—be smart and compassionate, which I believe is lacking in many leaders today.

Due to COVID-19, we have been doing a lot more Skype interviews compared to previously and there’s no makeup room anymore, which I love, because I hate going into makeup. I love those working in the make-up room [laughs] but I hate getting the makeup done. Around 5 p.m., we shoot what we call the headlines and thereafter go live at six to seven [o’clock].

What does the future hold for Dwight Drummond—maybe something in politics?

Being a person of visible minority and an immigrant, what were some of the challenges that you had to experience prior to making a name for yourself in broadcast journalism and how did you overcome them?

No, not politics! I wanted to teach but now I don’t think this is my future for me. I’m now 52 years old, and hoping to leave the industry between 55 and 60 years old. It is still having to be decided what I would like to do. I enjoy the show and get to do other things outside of it, once in a while. This is the goal—if you told me as a kid on Jane and Finch that I’d be hosting on CBC, I would’ve laughed at you. //

It was daunting and scary at the beginning—but I didn’t allow to be stereotyped or be told “because I look different, I can only do this.”

When I got accepted into Ryerson [University] for Radio Television Arts and U of T [University of Toronto] for English Literature, my guidance counselor had said, “Well, Dwight, if you want a job, go to Ryerson; if you want a degree, go to U of T.” At the time, I was still living at Jane and Finch and I needed a job [laughs] so I ended up going to Ryerson. [It was the] best decision because the program was exactly what I needed to prepare me for the industry. It was difficult but it kickstarted my career. The English department at my high school, Runnymede [Collegiate], boosted my confidence, which really helped.

CBC has gone through a lot of changes, unfortunately, in a time that’s already full of uncertainty. What advice do you have for young journalists on what they should expect from a competitive field and the future of Canadian media industry?

Know the industry because it is continuously morphing. There are not enough jobs at traditional media companies, which is problematic. I worry about people coming into the industry because of the contraction and the lack of jobs currently.

One does not have to work for a large network to be successful, but put yourself and work out there without a CBC or BBC. If you want to be a writer, start writing. Publish your opinions online and you will be surprised at the opportunities that this will bring about. Increase your skills in the industry as much as possible, because the days of working 30 years in the same job and retiring to Florida are over.

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RENEE MONTEZ −AVINIR

by Dave Gordon Photos courtesy of Renée Montez-Avinir

I In the energy sector, few women are in leadership positions, and even fewer come from Africa, where women generally struggle to climb the corporate ladder. That is why Renée Montez-Avinir stands above the crowd.

As of September 2020, she became the managing director of Africa Oil and Power, bringing more than 15 years of

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experience to the highest level of Africa’s leading energy investment platform.

Originally from South Africa, where she continues to live, she has worked across the African continent.

She has distinguished herself as an ambitious business development expert, connecting national leaders and executives at all levels and leading many major investment events, including the CEO Institutional Investment Summit with NASDAQ in New York, the CEO DFI Summit in Washington, D.C., and the World Economic Forum on Africa.

On her watch, there’s an array of investment initiatives planned for emerging markets, including Angola, Nigeria, Mozambique, Senegal, Gabon,

Equatorial Guinea, South Sudan and South Africa.

Previously, Montez-Avinir was head of operations for Africa at UK-based Investor Publishing, a leading international events company.

She holds a degree in communication science from Endicott College in Massachusetts and two post-graduate diplomas in public relations and event management from Damelin Business College in South Africa.

The Edge asked Montez-Avinir about the pursuit of leadership as a woman, as well as what leadership qualities are important, and how to achieve workfamily balance.

You’ve had an impressive career path, reaching an executive level that is not as common for women as for men. What enabled you to reach such a high level?

Are there certain skills that have helped you see what your next step is and to make yourself known as someone who can perform the next-level job?

Investing in oneself is key to success. Remain calm under pressure as well as lead by example with integrity and credibility. Have a personal strategy with a strong foundation and know the value of not giving up on yourself. Persevere in the midst of any crises and keep going with focus. Stay motivated and committed.

Show your strength, communicate with confidence and network with emotional intelligence and agility. All this allowed me the opportunity to excel to the level where I am today.

It’s having self-awareness, integrity and strong business acumen with a clear vision. That includes delivery with strategic thinking and the ability to motivate, influence and make innovative decisions when required. Those are part of the skills within me that enable me to perform the next-level job successfully.

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winners' circle

What is your perspective on why there is a lack of women in C-level positions?

Women are never truly given the opportunity in these positions as they are often perceived as weak or challenged at every point when they step up and deliver. Additionally, women in leadership should engage in up-skilling and support each other in order to grow effectively in the workplace. They should not be intimidated by each other. This creates strain when promotions to C-level positions are looked at. Women should support women.

What challenges did you encounter on your path to an executive role? How did you persevere through these challenges?

I am constantly being challenged on decisions that I make as a woman leader. It’s important to remain focused, stay humble yet firm, follow through and overcome any fears. Have confidence, deliver beyond expectations and keep motivated. Balance stress and maintain positivity with perseverance. That’s what gives me balance to get through the challenges.

What advice would you offer women of colour who want to reach the C-suite level?

Describe your leadership style? Do you see this as being a leadership style that requires more emotional intelligence?

Take ownership of you. Invest in you. Education is important; so is self-confidence. Never give up on yourself. Read, research and support women. Challenge yourself daily, and if it gets hard, keep going.

I have both a coaching and affiliative style of leadership. Emotional intelligence is required in order to obtain maximum results, in delivery of vision, goal and mission, including achieving commercial return on investment for the company, staff and stakeholders.

How have you balanced work and family?

Who are your role models and how have these role models helped you along your career path?

Being organized with defined structures.

Is there a disadvantage for companies in your industry that do not have women in top-level positions?

Yes. Women challenge the status quo when they can equally deliver as a man can. Companies should increase their investment to up-skill and empower women for equal opportunity. They can just as easily deliver with precision.

Michelle Obama and Oprah Winfrey are two strong powerful women that not only inspired me but allowed me to learn from them. Their inner strength is admirable. Their impact to uplift the people and empower the community in words, action and determination to succeed in all they do is commendable and contagious. They are both revolutionary women who have championed a multitude of important causes throughout their lives. They have inspired, encouraged, and educated and provided support for many. They are indeed great role models and leaders to look up to. //

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winners' circle

BRAM A. LECKER

by Veruschka Mungroo

C Changing legislative labour laws, fighting for the rights of non-unionized employees and running a law practice with over nine specialized lawyers is all in a day’s work for one of Toronto’s top employment

Photos courtesy of Bram A. Lecker

litigators, Bram A. Lecker.

AA skilled advocate and trusted advisor, Lecker was recently voted one of the top three employment and labour lawyers in Toronto for the third consecutive year by way of votes on ThreeBestRated.ca, a site that uses the firm’s own clients’ ratings as a major criterion. In spite of his astounding portfolio, Lecker actively participates in client cases and mentors a stellar team of employment lawyers to achieve their objectives in complex disputes ranging from wrongful dismissal, minority shareholder oppression, workplace harassment and denial of disability benefits.

In a nutshell, can you briefly describe your career background and achievements thus far?

36

Lecker’s firm also encompasses trial and appellate advocacy in employment cases, job layoffs and severance package negotiations.

With experience in the legislative and judicial branches, he has acted as lead or co-counsel at all levels of court, including the Supreme Court of Canada. He also advises corporations, nonprofit organizations and executives on their legal obligations and has active directorships on York Community Credit Counselling and the Economic Club of Toronto.

The Edge spoke with Lecker about the secret behind his success and what motivates him on a daily basis.

I began my career 36 years ago as a general practitioner. However, 30 years ago, I identified a gap in a niche market to represent non-unionized employees in the field of wrongful dismissal and disability law. I took the bold step to open my own practice and a quarter-century later, I am now the principal in the practice, mentoring over nine talented lawyers in this topical and specialized field.

to be named one of the ten most important legal decisions in Canada in 2018. Another case that comes to mind that I did quite a few years ago ended at the door of the Supreme Court of Canada, when an employer requested an employee to be on-call for work on a 24-hour shift and the employee refused on the basis that he wanted to ensure quality time with his family. It was for this reason that he was subsequently terminated.

The court determined that the employer’s decision was wrongful. The decision evolved into Canada legally acknowledging “family values” that must be respected in the workplace.

One of my most influential cases resulted in a legislation being changed in protection of independent contractors and vulnerable employees, which set the law and precedent in Ontario’s justice system. It went on

I’m very proud of what I do. I am able to fulfil my passion for representing those who were wrongfully dismissed and those with disabilities, illnesses or accident[s] stemming from employment and protecting their rights.

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All lawyers will tell you that they went into law because they want to help “mankind”—quite altruistically. At the time, when I went into practice at age 26, I too felt like I wanted to change the world. But the reality is different—I make a difference by concentrating sufficient resources to help a person with their case and also make a good living at it. After all, it’s a business. We engage our service on a recovery basis, with no upfront retainers. In this way, I am fortunate to enable and help my clients achieve a favorable result and therefore maintain a secure financial operation at the same time.

Who is Bram Lecker as a person?

I like to call myself a prickly pear—tough on the outside, softer on the inside. To do this work, you have to have a passion for the rights of the “underdog” and my blood still boils when I see people being treated unfairly, especially when they are ill or injured.

I believe I have been successful thus far because I fervently believe I have learnt from my cultural background that it is imperative to treat clients like guests. Surprisingly, a lot of lawyers do not do so. Greet people with a smile, offer them tea and treat them with respect—it’s not that difficult.

What motivates and inspires you on a daily basis?

At this point, 36 years later, it’s putting together an effective, reputable team, which really gets me on a high right now. I am fortunate to work with self-motivated, energetic and passionate staff including my eldest son.

I take a lot of pleasure that my group of employees [who] are mostly millennials have essentially adopted my style in conjunction with their own. I still don’t understand why they eschew napkins and love bottled water so much. I have been able to develop some pretty good lawyers throughout the years. Just thinking about this is my daily reward—like a teacher.

Due to COVID-19, how has the current economic climate affected your business and your clients? I imagine your services are more relevant now more than ever before.

I don’t want to sound like a mortician, but unfortunately, what has been bad news to the world has been very good for us.

I believe some employers took advantage during this time—they were not financially stressed, yet they laid off staff to reduce costs. With the ensuing deluge of enquiries, we put out a blog essentially saying, “Employers, we understand your pain, but we hate to be the one to tell you—the Emergency Regulations did not suspend ‘Common Law’ contractual rights and you cannot keep employees waiting forever.” Our website received 33,000 hits for that blog.

What do you attribute as your greatest quality and how has that assisted you in becoming one of Toronto’s most prominent lawyers in your specialization?

Thirty years ago, I was told by a senior lawyer, ‘Lecker you are made up of nothing but 20 percent reason and 80 percent aggression’. I literally have this illuminated sign in front of my office that flashes Winston Churchill’s adage “Action This Day” to remind myself and staff that we exist in a never-ending sea of hostility with employers that do not respect our laws.

However, we are still Canadian lawyers and the aggression has to be tempered with reason and civility in the best interests of our clients—90 per cent of whom have never seen the inside of a courtroom.

What are some of the greatest lessons and challenges that you had to endure in your 30-plus years of being an entrepreneur?

Managing egos of both arrogant employers and sometimes unrealistic and emotional clients. We work a great deal with mediators and outplacement counsellors—if one could put emotions aside and basically sit around the table and just deal with the facts and law, with no politics or attitudes, we would get a lot more done and save time, stress and money. But then there would be no reason for lawyers, would there?

What is your secret to success?

Delegate to the right people. I am always able to know when it’s time to delegate. Lawyers tend to be hands-on and overwhelm themselves with work—this was me many years ago, but I learnt the hard way (with a back injury) that one cannot spread themselves too thin. It’s ultimately limiting to growth. Another secret to my success is spending money to expand. My dad used to say that sometimes you have to crack an egg to make an omelet—that goes for software, office environments and talent.

Any winning advice for future entrepreneurs and lawyers?

Sure. For lawyers specifically, I would say get themselves a good website and a good web marketer—they are rarely the same person. That’s almost a sure way to acquire business and keep the lights on.

Treat your clients as a customer, with dignity. Let them know that you are practically and metaphysically behind them and not just there to take their money.

I am a big fan of influencers as a source of referrals as well. Identify them and cultivate those relationships.

Finally, don’t live to work, work to live—one must have a balanced life.

As entrepreneurs, we are all guilty of waiting till tomorrow to really enjoy family and friends. //

Visit Lecker & Associates at leckerslaw.com.

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money & finance

HOW CLIMATE CHANGE IS IMPACTING OUR ECONOMY

S

by Susan Gebrezgie

ince the beginning of the Industrial Revolution, we have burned exceedingly more and more fossil fuels, pumping carbon dioxide (CO2), methane and other greenhouse gases (GHG) into the atmosphere. This activity also caused the greenhouse effect of global warming. Global warming is the gradual heating of Earth’s surface, oceans and overall atmosphere.

Climate change is a long-term change in the average weather patterns and CO 2 is the main reason for this transformation. Natural processes such as volcanic eruptions and respirations can also contribute to releasing carbon

dioxide, but these are minor components compared to human activities such as land-use changes, deforestation and especially burning fossil fuels. Therefore, CO2 is a result of mostly humaninduced activity, making us primarily responsible for climate change and any aftereffects. One of the major consequences of climate change has been the negative impact on our economy.

Many industries, such as insurance and agriculture, have suffered financially because of this phenomenon. Insurance companies have to pay for the damages occurring in other sectors and agriculture is affected by the increases in temperature as 30 percent of the world population is dependant on agriculture for their income.

By adopting an economic lens, this article aims to summarize how climate change is affecting our economy and how essential it is to adhere to climate-friendly objectives and policies to achieve a lucrative and low-carbon economy.

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money & finance

The Positive Impacts of Climate Change Agricultural Production Due to warmer year-round temperatures and longer growing seasons, new crops such as oranges, grapes and peaches flourish, leading to greater agricultural production. Some studies report that some crops and other plants are more droughttolerant and grow better in the presence of higher CO2 levels. However, this benefit is a doubtful advantage because weeds, invasive plant species, and pests will also thrive in a warmer climate.

Reduction in Energy Bills Now that projected warmer temperatures are on the rise during the winter months, hydro bills will also be substantially lower.

The Negative Impacts of Climate Change Endangerment of Indigenous People and Their Land Many Indigenous people are forced to relocate as their lands become uninhabitable due to climate change. For instance, in Newtok, a village in Alaska, melting ice means the whole settlement is sinking, and its highest point—a school standing at 20 feet tall—could be underwater soon.

Forest Fires The two major ways in which climate change is affecting wildfires are through an increase in the likelihood of wildfire and in longer fire seasons as a result of warming temperatures.

Many still remember the forest fires that devastated parts of British Columbia and Alberta in 2018, driving hundreds of thousands from their homes. Another

recent example is the Australian fires earlier this year that damaged 18 million hectares of land across Australia and surrounding territories. The fear of wildfires still exists today as each new spring threatens another catastrophe.

Public Health Concerns Chronic conditions such as kidney-related disease, depression and chronic obstructive pulmonary disease (COPD) have all been linked to climate change, according to medical experts. Vulnerable groups like the elderly are especially susceptible to deaths attributed to heatwaves. Furthermore, people are at higher risk of contracting Lyme disease (a disease caused by the bacteria Borrelia burgdorferi that is transmitted to humans through a bite from an infected black-legged or deer tick), because there is a greater spread of pests such as ticks carrying the disease now that winter is not cold enough to limit their range.

High Insurance Costs The increase in extreme weather events results in high costs to fix affected areas. From 2009-2017, insurance claims from extreme weather averaged approximately $1.8 billion a year, quadrupling from 2008 according to the Insurance Bureau of Canada. In 2018, Manitoba faced one of the worst droughts on record, resulting in the drastic increase of feed prices for farmers, while in the same year in Montréal, a summer heatwave resulted in over 50 deaths.

In 2019, climate change contributed to at least $100 billion in extreme weather damages, primarily resulting from an increase in flooding of low-lying coastal areas.

Despite these alarming figures, there is still hope. Canada has promised to reduce its GHGs to 30 per cent below the figure for

the year 2005 by the year 2030. This bold action projects at least $26 trillion to the global economy by 2030, along with 65 million new jobs.

Curbing Near-Term Climate Warming When it comes to reducing GHGs and protecting the economy, eight simple policies need to be enforced.

1. Impose a carbon tax 2. Invest in renewable energy 3. Expand public transit systems 4. Invest in energy efficiency tax breaks to help families and businesses save money 5. Invest in made-in-Canada technology and clean solutions 6. Invest in energy-efficient buildings 7. Double the amount of protected nature 8. Keep plastic in the economy and out of the environment

Ontario-based VeriForm is one of the many companies to practice reducing emissions and grow its economy. The steel fabricator earned $135, 000 in annual energy savings by investing in simple retrofits like smart thermostats and automated receiving doors.

Their GHG emissions fell by 77 per cent and the energy savings made it much more competitive, allowing the company to increase its workforce by 25 per cent

Is There a Moral Obligation?

We dare not forget the emotionally charged speech of 16-yearold Greta Thunberg in 2019 at the UN Climate Action Summit, where she charged UN leaders with unforgivable moral failure in ignoring the climate crisis. Was she wrong? Are we not all somewhat, if not largely, responsible for this climate crisis? If you ask children about pollution, they will most likely answer as taught: we should not pollute and we are all responsible for taking care of the planet. Yet somehow, it becomes so complex for adults to comprehend and practice.

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the EDGE Spring | Summer 2021

When COVID-19 adversely impacted our economy, we quickly became educated on the virus and the measures to take to stay safe. Because of this, we were able to reduce the spread and numbers and get the economy going again. If we all treated climate change like this pandemic, imagine how quickly we could reduce GHGs and achieve low-carbon, competitive and profitable economies. //

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money & finance

AVOIDING ECONOMIC ANXIETY

by Joshua J Cooper

T

hroughout history, the world economy has experienced its share of ups and downs. Economic instability can lead to a fair amount of anxiety for anyone at the best of times; these fears are exaggerated ten-fold during a pandemic. Here are a few tips on how you can assuage those fears and come out of the current pandemic calm and with your head above the water.

Managing Your Flow The first thing you need to look at amid a pandemic is your cash flow and expenses. To start, make a list of what you owe and how much you owe. Having all your debts at the forefront will help you analyze your finances' larger picture. The next step is to make a realistic spending plan, including phone bills, Internet bills, hydro bills, etc. Doing so will make it easier to determine your spending priorities and help you make the minimum payments.

Set up a separate savings account, as well as a spreadsheet to keep track of your money and help you see how far ahead or behind you are each month. It will also help you budget and know where you are spending and what expenses you can reduce or eliminate.

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Emergency Back-Up Plan As stated, you should set up a separate savings account as an emergency contingency plan should any unforeseen expenses arise. Without a proper savings strategy, you will quickly fall into severe debt.

Set both short-term and long-term savings goals. Eventually, you want to have enough saved up to cover about 3-6 months of living or business expenses. Doing this will set your mind at ease during an economic downturn when your cash-flow may be volatile. Your savings can help expand your business or help you perform any needed upgrades in brighter economic times. It's a great idea to have multiple avenues to tap into when you're facing lower customer returns or a budget crunch at home due to a market downturn.

Learning to manage your expenses takes patience, compromise, and discipline. Creating an emergency fund will convey these virtues and come out of the economic downturn no worse for wear, and maybe even ahead of where you expected yourself to be.

Sight Your Sources Suppose you are looking for new income sources throughout the pandemic to tie you over until the economy stabilizes; in that case, there are plenty of resources available for businesses to utilize. Some enterprises have pivoted from their traditional stock to supplying much-needed supplies on low inventory throughout the coronavirus outbreak.

You could also turn to sell oversupplied stock that you have saved up throughout the years that is of no use to you at this point. You can even look towards other avenues for gaining revenue, such as sharing your skills and expertise with other businesses and people.

It would help if you looked back on any superfluous expenses you or your company are currently incurring. Whether it be a monthly Netflix account or your daily paper, cutting back on unneeded spending is a significant way to cut down on your bottom line and come out ahead in these tough economic times.

On-the-job Training Office Administration Filing Reception Customer Service Phone Answering

Another thing you should take a long hard look at is your investments. While the market has been volatile, you can still invest safely. For example, bonds are a good, secure investment that can provide you a safety cushion and help you earn money in the long run.

Economic Calamity An essential step in avoiding economic stress is trying to lower your expenses. Choose low-cost products, hire temporary employees to handle menial work, or only do without supplying your workforce with pens and paper and moving to electronic communication channels. There are many ways you can lower your personal or company's expense account without sacrificing production and service quality.

Start by making a list of all the products and services you or your company can't do without, then make a list of all the less critical products or services that you can avoid for a while. Cutting out the fat in your company and streamlining things can help ensure you keep all the essential things that make you or your company unique while still providing you with avenues to save money.

Looking Ahead With a new president in the White House, economists are shifting their outlook on the Canadian economy based on new policies that could increase its potential growth. There could also be significant downturns in current tariffs, leading to more economic stability. The coronavirus vaccine launches should help pave the way for businesses to manage the market's uncertainty. //

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money & finance

ANALYZING HOUSEHOLD SPENDING IN CANADA

by Rob Shapiro

T

he events of 2020 have impacted the Canadian economy at every level, including individual households. Between an at-home workforce that is unprecedented in size, less commuting, business closures and general unease regarding finances and employment, Canadians have significantly shifted their spending habits.

Notable Household Final Consumption Expenditures

$10,997

$7,580

$12,054

Q4 2019

Q1 2020

Q2 2020

Q3 2020

$24,415

Q3 2020

$20,766

Q2 2020

$24,955

Q1 2020

10,000

$25,783

Q4 2019

20,000

$25,654

Q3 2019

0

RECREATION

$82,683 Q3 2020

$42,177

$81,263 Q2 2020

$28,222

$80,874 Q1 2020

$43,981

$80,076 Q4 2019

20,000

Q3 2019

0

30,000

$49,187

$78,811 Q3 2019

0

40,000

$13,073

Q3 2020

5,000

$13,079

Q2 2020

CLOTHING

Q1 2020

$49,068

HOUSING & UTILITIES

Q4 2019

60,000

75,000

25,000

Q3 2019

10,000

0

100,000

50,000

$32,176

Q3 2020

$32,589

Q2 2020

$32,056

Q1 2020

0

$29,962

Q4 2019

10,000

$29,715

Q3 2019

FOOD & BEVERAGE

100,000

20,000

TRANSPORT

HOUSEHOLD

200,000

$313,995

15,000

$275,657

30,000

300,000

$321,251

20,000

$329,197

40,000

$325,991

400,000

FINAL CONSUMPTION EXPENDITURE

Current prices in CAD (seasonally adjusted at quarterly rates) from 2019 and 2020

Q3 2019

Q4 2019

Q1 2020

Q2 2020

Q3 2020

0

Source: Statistics Canada. Table 36-10-0124-01 Detailed household final consumption expenditure, Canada, quarterly (x 1,000,000)

Financial Snapshot Canadian households might have limited spending ability as debt loads rise and the employment market suffers. Essential goods will continue to be the focus of household spending, including: Groceries, Medical Supplies, Personal Hygiene Products, Toiletries and Cleaning Supplies * Online grocery shopping has seen a dramatic spike for most households in 2020. In September 2020, it was responsible for over 30 per cent of grocery transactions, up from the spring.

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the EDGE Spring | Summer 2021

Source: The Conference Board of Canada, August 13, 2020 Source: Statistics Canada, Catalogue no. 62F0014M, May 11, 2020

money & finance

Bank and Government Support

Pandemic Effects

Going forward, banks will play a key role as available credit could dictate household spending. There has been a ripple effect caused by creditor leniency, including mortgage deferrals and rent breaks.

Spring 2020 saw several expected and unexpected irregularities in spending from previous years.

Government intervention in the form of programs like the Canada Emergency Response Benefit (CERB) and the Canada Emergency Wage Subsidy (CEWS) curbed a further decline of spending, as well.

$77B CERB

October 2020

$18B

Canada Recovery Benefit

-37.5%

Drop in debit and credit card spending in March from the prior year.

+78.9%

Spike in buying groceries over last year in March, holding steady at around an increase of 14-33 per cent from early April to mid-October.

+792%

In the first week of March 2020, hand sanitizer sales spiked, but by midApril, sales dipped to an increase of 345 per cent compared to the same time last year.

+68%

Due to the closure of coffee shops and people choosing to make coffee at home, coffee filter usage was up compared to the same time in 2019.

July 2020

$77B CEWS

July 2020

$5.5B

GST Credit Top-Up July 2020

Source: KPMG LLP, July 14, 2020 Source: iPolitics, October 7, 2020

Demand and Decline Total household spending dropped roughly 51.3 per cent in the second quarter of 2020. The first quarter experienced a 9.0 per cent decline. Household spending stats are impacted by the lack of demand—and subsequent price drop—for common expenses like gasoline.

The second quarter of 2020 saw the Canadian economy face many challenges, including the Gross Domestic Product dropping by 11.5 per cent. This decline was the most severe since 1961 and household spending contributed to this.

Household discretionary budgets could be minimized in favour of essential purchases. Some of the largest declines in household spending include:

Transportation Services

Food & Beverage

Clothing

*Households spent 71 per cent less on travel compared to last year.

There was a steep decline in the purchase of big-ticket items.

This could continue well into 2021.

Online spending continued to capture a larger share of spending with 51 per cent of transactions occurring remotely versus about 46 per cent in mid-summer.

Source: The Conference Board of Canada, August 13, 2020 Source: Trading Economics: Canada Consumer Spending 1961-2020 Data Source: RBC COVID Consumer Spending Tracker, Guldimann. November 16, 2020

-34%

By the week of March 28, hair styling and grooming supplies dropped 34 per cent in sales only to rebound two weeks later, rising 17 per cent due to salons and barbershops being forced to close.

Source: Statistics Canada, Catalogue no. 62F0014M, May 11, 2020

Consumer spending in Canada dropped to 998,375 million in the second quarter of 2020 down from 1,148,851 million in the first quarter of 2020.

2021 Outlook Some financial experts predict that 2021 could see a rebound in average household spending in addition to interest rates lowering and an emphasis on buying items that were ignored in 2020.

Household spending should stabilize or even increase as we approach periods of stability. This will vary by region. Ultimately, it will be determined by the COVID-19 response and the availability of a vaccines. // Source: Bank of Canada, June 18, 2020

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elenapetrescu

TRANSFORMATIONAL HYPNOTIST

Understanding Non-Verbal Communications

D

id you know that most of our communications are non-verbal?

That is correct—55% of our communications are nonverbal, 38% of our communications come from voice intonation and only 7% of our communications come from words that we say.

Imagine how different you would feel if you could tell whether someone was lying or telling you the truth. If you are a business owner or a coach, it is important to know what your client is feeling at a particular time.

Hypnosis taught me that the brain controls all behaviour. We are all about feeling and emotions. When we feel something, we project that emotion. From simply scratching our nose to smiling, there is nothing that we do that is not governed or directed by the brain.

We use these behaviors to interpret what the brain is choosing to communicate. Our brain is designed to always protect us.

Our limbic brain is the brain that reacts to the world in real time and without thought. It’s the brain that will reveal true feelings.

Emotions show us how other people are feeling and this information is necessary to know who may attack you or who might be your friend. Even animals have their signals to show their intentions and why they act in different ways towards their enemies and their trusted friends. They know exactly who their friend or enemy is.

This happens due to their instinctive emotional reactions. Emotions have the same protective functions for human beings. In our social environment we could not survive without our ability to distinguish between different emotions.

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the EDGE Spring | Summer 2021

There are 7 universal emotions and 26 variations of those emotions. When you learn and master these universal emotions called “Micro Expressions” you can determine the meaning behind your client’s, friends and/or children’s facial expressions.

What Are Micro Expressions?

Micro Expressions are half-a-second or shorter involuntary movements of the facial muscles. Most people are unable to control these involuntary muscle contractions which are affected by their emotions. It is an unconscious process. The seven universal emotions are happiness, disgust, contempt, anger, fear, sadness and surprise.

Let us look at the emotion of happiness for example. This emotion can be seen on someone’s face when both lip corners curl up, symmetrically. This is particularly useful in daily life.

For example, you wish to take a potential client to a restaurant of their choice. You may tell them that there is the option to go to a Greek or an Italian restaurant nearby. They, being an Italian food lover, might smile in response to the mention, revealing in a non-verbal cure their preference.

Micro Expressions are universal in each culture and everybody shows them the same way. Micro expressions will help you recognize very accurately what others feel and think just by watching their non-verbal signs that they cannot hide from you.

To learn more, Go to: https://elenapetrescu.com

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Hypnotherapy Services: For Weight Loss For Eliminating Anxiety For Quitting Smoking

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start-up

EMERGING TRENDS OF FAILING START-UPS

by Peter Campbell

T

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the EDGE Spring | Summer 2021

hings don’t always go the way we would like or imagine. We all know this and are somewhat prepared for this harsh reality.

Start-ups are not immune to this truth. Due to the unfolding challenges created by COVID-19, what we previously knew to be difficult has now become nearly unsurmountable. Nearly!

We should never underestimate the power of entrepreneurial drive.

start-up

Signs of the Times Start-ups are failing. But as a start-up entrepreneur, you knew getting into business that the road to start-up success was not going to be a smooth one—and the road certainly is bumpy nowadays, to say the least. Being flexible, keeping up to date on trends, rolling with the socioeconomic punches, adapting and evolving were always going to be necessary to survive. In fact, previous figures told us that 90 per cent of start-ups fail.

These statements would all be true even if the pandemic had never occurred.

Factor in a global pandemic and the failure rate has risen to 92 percent.

“If it bleeds, it leads”has long been the motto of many a news broadcast. As a result, the news has informed us of larger companies that have become so-called “coronavirus corporate casualties.” Huge names—including JC Penney, Pier 1 Imports, and GNC, as well as JP Morgan, Wells Fargo, and Sears—have suffered huge financial losses.

We don’t always hear of the start-ups that have also fallen by the wayside.

those on the front lines but also enabled the company to future-proof its business.

Be flexible with your business model A global leader in precision medicine, Avellino adapted its business model during the crisis to fill a gap in the testing market for COVID-19.

Take advantage of your fortes Frontline workers were overworked—AIpowered Contextere was able to ease that burden through the deployment of artificial intelligence.

Keep connected Financial services and blockchain company Diginex rapidly updated its technology solutions to switch from in-person communicating to doing so virtually/ remotely.

Learn before you leap When the pandemic struck, Andreas Kunze —founder and CEO of AI/IoT tech start-up, KONUX—reflected on two questions: In a scenario where our market collapsed, what assumptions would I still not challenge?

What’s the core of what we do?

Statistic Canada reported that Canadian corporations posted an 8 per cent decline in net income before taxes in their 2020 second quarter– a decrease of $4.5 billion to $52.3 billion.

“In times of great change,” said Kunze, “we need to learn about the market, customer, product and people impact as fast and as much as we can.”

Business as Unusual: Make Lemonade

Livinguard, a maker of face masks and other PPE, scaled up its production while ensuring its staff could work safely and transport the necessary products—especially difficult due to the challenges faced from the substantial decreases in air and ground travel.

The pandemic has reshaped how businesses run and how leaders lead. Being able to adapt and pivot quickly has never been more important, as displayed by these six start-ups.

New business normal Realizing its technology could help generate respirator connectors and PPE, 3D printing company 3YOURMIND not only aided

Think even further outside the box

The great unwinding Martin Pichinson, head of Sherwood Partners—an advisory firm based in Silicon Valley—referred to what was taking place with start-ups as “the great unwinding”.

Pichinson went on to say that, in recent weeks, his firm had taken three or four times the number of calls pertaining to failing start-ups than he had ever witnessed.

Venbridge’s 3 Reasons Start-Ups in Canada Fail, And The 3 Reasons They Succeed (published June 25, 2019) lists the main reasons for failure to be: • • •

Not the right team No market fit Not enough cash

Their top reasons for success: • • •

A strong founding team Effective utilization of their network Efficient use of funds

These may sound like common sense, but they are timeless and invaluable trends/ reminders—regardless of the time, country, or situation.

Trends—Like Numbers—Don't Lie (Much) The current failure rate is 92 per cent.

That’s enough to make even the hardiest of us pale. But life is all about variables— what’s 100 per cent true one day may not carry the same mathematical perfection the next day.

Basically, start-ups consist of two key principles: • •

Innovation Growth

Canada has two entries (three cities) on Startup Genome’s worldwide list of top cities to launch a tech start-up: TorontoWaterloo ranked 18th and Vancouver ranked 25th. However, Startup Blink has Toronto ranked 11th and Vancouver 19th. //

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start-up

FACTS AND FIGURES Breakdown of Why Start-Ups Fail

Marketing Team Finance Tech Operations Legal

56%

18%

16%

6%

2%

2%

Source: “Startup Failure Rate: Ultimate Report + Infographic [2020]” by Failory

Choose Wisely Key Small Business Statistics shows that approximately 7,000 businesses go bankrupt every year in Canada—almost half of them within the first three months.

With challenges ranging from a global pandemic to economic/ societal unrest and political upheaval to rampant environmental, personal, and financial catastrophes, most of us would agree that 2020 was a year best placed in the rear-view mirror. And the history books.

But it’s not all doom and gloom, nor is it too late for 2021.

Being aware of failing trends can lead to success in your startup. It may be an age-old phrase but learn from your mistakes as well as the mistakes of others—otherwise, failing start-up history could repeat itself.

Simply put, paying attention to trends (whatever they might be) is often the best way of forecasting your start-up’s future. //

Top 10 Causes/Trends for Small Business Failure

14%

No market need

13%

42%

Ran out of cash Not the right team

14%

Got out-competed Pricing/Cost issues

17%

29%

User-unfriendly product Product without a business model

17%

Poor marketing 18%

19%

23%

Source: Forbes – Why Entrepreneurs Fail – Top 10 Causes of Small Business Failure

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Customers ignored Badly timed product

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by Arslan Ahmed nRoute Cargo & Charter Inc. provides a full suite of services from logistics-handling and transportationby-air to leisure and business travel, with its fleets of freight and passenger aircraft and warehousing infrastructure. They are supported by a trusted network of freight forwarders, customs-clearing agents and experts in infor mation technology.

The company focuses on the following services: •

Air freight handling on company-owned chartered planes

•

Passenger flights for personal or business purposes

•

Freight forwarding in partnership with other logistics services

•

Customs clearance in select destinations

•

Warehousing for safe and reliable storage of goods

•

Delivery of machinery and perishable foods over a retail network

The company is the brainchild of partners Trevor Fortune and Glenn Logan, experts in business and aviation.

From his youth in his early twenties in Canada, Trevor Fortune demonstrated an entrepreneurial drive that led him into the world of business, foraying into corporate management, marketing and sales in various organizations over the years. All along this journey, he was motivated by an altruistic vision—to support

Offering Chartered Cargo flights internationally to North, South, Central American, and Caribbean Locations.

Photo: Glenn Logan, CEO / Co-Founder (Left) Trevor Fortune, President / Co-Founder (Right)

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the development of small businesses in the African-Canadian community. Today, financial inclusion and the empowerment of marginalized business communities in the developing world are the central tenets the founding partners stand by. To achieve these goals, they have partnerships with African and Caribbean governments to aid farmers and growers in these regions to be export-ready for the North American markets through a reliable network of agri-business professionals.

Starting his career with Air Florida, Air Jamaica, then British Airways Holidays and Canada 3000 Airlines in passenger sales and airport operations, Glenn Logan possesses more than 40 years of experience in the air travel industry. Serving in various fields such as marketing, sales, airline operations, aircraft leasing and piloting, he has gained a holistic perspective in the business of air travel. This broad experience enabled him to setup EnRoute Cargo & Charter Inc. in partnership with Trevor Fortune, and grow it into a flourishing global enterprise with ambitions to address all its customers’ needs, striving to provide an excellent experience within all budgets.

Core services: Ad Hoc Air Freight Handling Ad hoc delivery services supports the dynamic needs of your business. If you want fast, reliable, reasonably priced and timely deliveries of your goods, EnRoute Cargo & Charter Inc. has you covered with last-minute solutions.

Private Passenger Aircraft Services Whether you need to get to an important meeting or event at short notice or escape to a vacation, EnRoute Cargo & Charter Inc. has a fleet of passenger aircraft for business or personal travel.

Warehousing Services EnRoute Cargo & Charter Inc. knows that not many manufacturing and trade businesses have the capacity for warehousing. Indeed, it may not make business sense for those companies to invest in warehousing operations. With the company’s temperaturecontrolled storage facilities, EnRoute allows businesses to stay focused on their core activities without making a major investment in self-storage.

To know more about how the company can provide travel or transportation-related solutions, visit www.enroutecargo.com or email us at info@enroutecargo.com

416-290-0332 or 647-700-7796 +829-752-1115

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tech & innovation

THE FUTURE OF

THE SHARING ECONOMY

I

by Rob Shapiro t seems as if everyone uses Uber to get somewhere or Facebook Marketplace to buy new toys or sell furniture. These are examples of the sharing economy, which since its beginning has pervaded lives and transformed consumer habits. Furthermore, it has made certain goods and services more accessible, while opening opportunities for millions to earn extra income.

The potential of the sharing economy is limitless with respect to revenue and market penetration. At its heart, this model reflects a societal desire to undermine existing business methods and practices. Sometimes, it values time over savings. Other times, it offers convenience for an additional fee.

The sharing economy has arrived at a pivotal stage largely due to the COVID-19 pandemic. This makes it a good time to re-evaluate where it’s heading and if consumers should go along for the ride. We need to ask ourselves if this way of life and style of consumerism will vanish, or will it continue to push more traditional businesses to the point of extinction?

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tech & innovation

Giants of the Sharing Economy

Growth by Technology

The sharing economy has too many companies to count, but only a few are considered true giants. These companies have reached impressive levels of revenue and brand recognition to the point that they are labelled “industry-disrupters.”

The sharing economy is almost completely enabled by technology.

Despite there being human interaction, like with Uber or eBay, the logistics and transactions happen solely with the help of technology and occur exclusively on mobile or web applications.

Uber is a prime example of the sharing economy’s principle that people will pay more for convenience and ease. Instead of standing on a corner desperately trying to hail a cab, you can simply summon one with a few taps on the Uber app. Users agree to the fee beforehand and get real-time tracking as to when their driver will arrive and when they will reach their destination.

Even a simple trading platform, like Bunz, relies on technology to connect users, encourage engagement, and facilitate transactions.

This economy is fuelled by tech companies that seem to be expanding exponentially by the week. There is simply no way to remove technology from the equation.

Uber Eats, SkipTheDishes and DoorDash—among others—allow you to order meals from a variety of restaurants. These restaurants can be independently owned or part of a chain, upscale or fast food, and everything in between. The model usually calls for customers to pay an additional service fee, and some menu items might be more expensive than if bought in-person.

This model illustrates the power of technology to influence the economy, and it’s not remotely close to peaking.

Potential for Greater Success No economy is impervious to failure, but the pandemic has made people more invested in using the app-based sharing economy to make money or to purchase goods and services.

The current reality is that most local businesses can have only a limited number of customers—or none—inside their establishments.

This might continue for another year or more. The benefits of apps and the sharing economy (whether it be staffing, operations, marketing or sales) have helped businesses stay afloat or even expand to meet the evolving needs of consumers.

The value of the sharing economy resides in the potential benefits it offers to the working class. This demographic stands to gain much from this model. Theoretically, it can help students, the unemployed, families and immigrants who are looking for resources to establish themselves financially and professionally.

TaskRabbit lets you hire tradespeople on a freelance basis. It pairs labourers with relevant jobs posted by users. Anyone who has hired movers or a carpenter knows it can be quite difficult and often requires a degree of blind trust. TaskRabbit eliminates the murkiness and lets users feel at ease with who they are hiring and what the cost will be.

These are just a few examples of companies that have catapulted the sharing economy to brave new heights. They’ve risen to the top by meeting the needs of demanding markets and offering services that simplify the lives of users.

Another aspect of the sharing economy that could experience a significant boost is talent sharing. As more companies go remote and virtual, talent sharing can play an important role in organizational growth and professional development. For instance, if a business needs a worker in a pinch to fill a certain role, they could find the necessary support by partnering with another business to share staff or to provide opportunity for those laid off or furloughed.

One reason to believe in this model’s continued success is because its tentacles extend into most industries—hospitality, transportation, consumer goods, and healthcare, to name a few—and most businesses can utilize it in some way.

Yet, their success might not give a clear indication of where this model is headed.

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Will it Fail?

While many companies playing in this world are experiencing growth or heading toward an initial public offering, many are struggling. As more competitors fill the market, it’s morphed into something of an arms race.

C U- SAI N - T - R - IE -R NI N- G G B E S- SE C AT

One element that can’t be overlooked is the reliance on humans to be the service providers. It’s no secret that companies like Uber have experienced pushback from their workforce, governments, and the public for their lack of oversight and low wages. If people feel they can earn more in other full- or part-time jobs, then they may not see Uber as a viable employer.

Perception will also have a hand in determining future success or failure. If the overall perception shifts and people start to approach these companies with trepidation, they will be quick to leave if red flags consistently emerge.

COVID-19 has helped the sharing economy gain popularity and importance at an impressive rate. As Canadians stay home and rely on apps and digital services to keep their households and lives moving, the industry is discovering immense growth potential that could outlast the pandemic.

A Healthy Dose of Skepticism There’s little denying the success of the sharing economy in its current iteration. Its presence can be felt in most corners of our world.

We should continue to enjoy what it offers, but remember that, as employees and consumers, we hold the keys to where it will go next. Our role will be to hold these companies accountable to more than just shareholders.

They must operate in a way that is economically feasible and in the best interest of the people they serve. //

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the EDGE Spring | Summer 2021

tech technology & innovation

S T R AT E G I E S

OF

BUSINESS TRANSFORMATION THROUGH TECHNOLOGY

by Marcus Medford

I

t has been a year since COVID-19 hit globally and completely changed the world as we know it. But is a pandemic something one can ever quite get used to? As a society, we’ve had to adjust in many ways, such as how we conduct business and adapt to consumer behaviour changes. Many businesses, especially small ones, were hit extremely hard due to shutdowns and other restrictions and subsequently forced to find solutions to survive. The pandemic has birthed and accelerated several trends. We have identified these major changes and their impact on businesses.

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tech & innovation technology

Embracing Digital Transformation Business owners and entrepreneurs need to keep their businesses relevant in a competitive and ever-evolving landscape. A digital transformation (DX) forms an essential part of this process, and an integration of digital technology into all areas of a business. It requires businesses to fundamentally change how they operate and deliver value to customers.

An ideal DX model involves experimentation, challenging the status quo, and bringing about a culture shift that starts with leadership. According to a 2020 McKinsey Global Survey of executives, nearly half of the executives said that they did not implement digital changes earlier because it was not a priority before the pandemic and they were hesitant to make changes out of fear that customers would resist these changes, or it presented too much of an operating risk. The pandemic has shifted both trends as businesses were forced to prioritize digital solutions to deal with lock-downs and restrictions, and a majority of people’s interactions were moved online.

The survey also revealed that companies have accelerated the digitization of their customer interactions, supply-chain interactions, and their internal operations by three to four years and digitally-enabled portfolio by seven years. Despite global economic uncertainty (and a slowdown in spending on technology) in May 2020, IDC (International Data Cooperation) forecasted that global spending on DX technologies and services will grow by 10.4 per cent in 2020 to $1.3 trillion.

Companies who’ve invested in a digital transformation have focused on cloud connectivity, virtual interactions, digital marketing, and digital distribution methods.

Virtual Vendors One of the biggest changes due to the pandemic was the shift to online channels for people buying and selling goods. According to data from McKinsey, three-out-of-four Americans tried a new

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shopping behaviour during the pandemic. Respondents said they were three times more likely to have digital interactions with consumers now than they were before the pandemic. Businesses and entire industries have responded to this growing trend by adapting how they deliver products and services to consumers online.

For example, some experts believe that the digital shifts we’ve seen in areas like cashless payments, buying groceries, and online fitness are trends that will likely outlive the pandemic.

In 2020, CNBC’s Disruptor 50 list featured eight logistics and delivery companies, and 12 fintech companies. The fact that these kinds of companies dominated the disrupters list is proof of the paradigm shift towards a stay-at-home economy.

Remote Work and the Cloud Another trend expected to extend beyond the pandemic is the increased popularity of remote work. Before the shutdown, only 21 per cent of companies had a majority of their employees working remotely; now the number has skyrocketed to 70 per cent. According to the Associated Press, 40 per cent of companies are planning to keep a majority of their employees working from home moving forward. For that to be a reality, companies must invest in solutions like cloud-management services, and access to corporate networks and devices.

Ninety per cent of business decision-makers consider cloud management a top digital priority. Unfortunately, most businesses don’t have the proper IT infrastructure and security systems in place to permit safe remote work. Early in the pandemic, some employees were reduced to using their own unsecured personal devices to do work, which was a problem because detecting and mitigating security threats is one of the biggest challenges around working remotely. Other things businesses should consider are distributing work-approved devices, building network infrastructure and securing the network.

Storage and the Cloud Another trend accelerated by the pandemic has been remote data storage systems, now a necessity among companies. Many top companies employ cloud computing to provide them with support on everything from teleconferencing to food delivery.

Cloud storage allows employees to access data without creating duplicates or different versions of important documents, keeping things consistent and making it easier to track and collaborate on projects.

A Zero Trust approach to cloud storage is a set-up where nothing inside or outside of the platform’s infrastructure is trusted automatically. That means only verified users can access the data, which decreases the risk of security breaches.

From a customer’s standpoint, it’s vital to ensure and explain how their data and personal information is secure—especially considering so much of our lives exists online now.

Customization and Customer Experience It’s important to understand how customers are using technology. By allowing customers to choose how they use these technologies, you’ll develop a better understanding of what their wants and needs are. Not only will this likely lead to more satisfied customers, it will also give important insights into the minds of key demographic markets, hence, leading to more effective decision-making. //

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by Dontei Wynter

A

s consumers, finding beauty services that meet your individual needs can be a time-consuming and frustrating p ro c e s s . T h i s i s m a d e m o re d i ff i c u l t f o r t h o s e l o o k i n g f o r specialized or culturally specific beauty services, including m a n y f ro m t h e d i v e r s e c o m m u n i t i e s t h a t m a k e u p a c i t y l i k e To ro n t o . F y y n e u n d e r s t a n d s t h e s e c o n c e r n s , m a k i n g it possible for artists and consumers to connect, in a time w h e n i t ’s n e e d e d m o s t .

Fyyne is a mobile-first platform that allows beauty artists to run their businesses more effectively and efficiently. They use their own proprietary technology to connect relevant artists with customers and simplify the entire booking process, from discovery to payment. Fyyne is operated by co-founder and CEO Jeffrey Fasegha, who is just one of six team members of diverse backgrounds and disciplines. Together, they are dedicated to helping fill the void left by COVID-19, which left many unemployed and unable to find a suitable stylist or barber. Fyyne is about fostering relationships with trusted professionals and potential customers looking for specific hairstyling services.

All of Fyyne’s artists are handpicked and the best-in-class. They are invited to join the platform so that Fyyne can optimize for a smooth customer experience. As the platform scales, it has strict community guidelines and criteria for artists that will ensure ongoing customer satisfaction.

Fyyne is a direct response to people of colour not being able to find stylists or barbers who can appreciate the unique care needed to work certain hair textures. And since the pandemic took away so many jobs, Fyyne offers artists the opportunity to rebuild their lives and grow their community. Its easy-to-use technology makes it simple for any artist to start their business and acquire customers anytime and anywhere. Fyyne eliminates any friction in running a business and allows artists to focus on what they love most.

In addition to its many accomplishments, Fyyne has established an exclusive partnership with several community organizations, including the Ontario Barber Association, which has agreed to use Fyyne as their exclusive booking platform for their network of 3,000 barbers.

Visit fyyne.com to learn more and to find an artist that fits your needs.

@FyyneHQ FyyneHQ FyyneHQ www.fyyne.com

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tech & innovation

TOP 10 FASTEST GROWING CORPORATE APPS

T

by Rose Ho here’s no denying the prevalence of apps in our personal and professional lives.

New ones come out each month, leading to a super-saturated marketplace. The ones worth downloading or investing in are sometimes hard to parse. Below is a list to help you find the ones that have risen to the top and become the fastest growing corporate apps according to Okta’s Dashboard. They run the gamut from performance management to workflow platforms and privacy services. You are sure to find something to increase productivity or provide a layer of extra security in your workplace.

Amazon Business Companies big and small can purchase on Amazon using a business account. Stocking up on office, cleaning, or professional supplies is made easier with bulk purchase discounts, free shipping, and flexible payments. Another useful feature is account management— different users or teams can purchase under the company name with a spending limit and approvals process. https://business.amazon.ca/en/ Amazon Business is available on the Apple App Store and Google Play.

Miro Collaborating is easy thanks to the creative canvas that Miro offers. With tons of widgets, templates, and other capabilities, teams can brainstorm and map out various projects through an interactive whiteboard. Miro is especially useful in remote workspaces. It can display multimedia—like video, messaging, and screen sharing—making it extra functional

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and dynamic. Miro also integrates with dozens of other apps, including Google Drive, GitHub, and Slack.

Monday.com Monday’s workflow platform allows for organized and effective scheduling and project management for individuals and teams. Onboarding is especially easy thanks to a clean presentation of data. Templates are customizable and Monday.com integrates with most of Microsoft’s and Google’s productivity apps. https://monday.com/

https://miro.com/

Monday.com is available on the Apple App Store and Google Play.

Miro is available on PCs and Macs, on Apple, Android, and Microsoft mobile devices, and on Surface Hub whiteboards.

Fortinet

Figma Figma offers easy-to-use and collaborative design tools for web and mobile development. Create functional and beautiful mock-ups in the cloud and mirror tests on various mobile devices. Figma is also built for a complete and seamless workflow, from team brainstorming to refining code. High-profile customers include Dropbox, Zoom, and Uber. https://www.figma.com/ Figma is available on PC and Mac desk and Figma Mirror is available on Apple and Android mobile devices.

As a cybersecurity solution provider, Fortinet offers powerful and complete security systems for enterprises as well as governments. Their initial product was FortiGate, a physical firewall, and they have since expanded their offerings to Security Fabric, which offers broader protection and self-healing networks powered by AI. https://www.fortinet.com/ Fortinet is available to purchase directly from the website.

Lattice Lattice offers employee performance management through its comprehensive platform. Keep track of reviews, goals, feedback, praise, and updates for all employees and keep them engaged with transparency and full support. Lattice also has helpful analytics for HR leaders and managers to continually develop employee performance. https://lattice.com/ Lattice is available on the Apple App Store and Google Play.

Snowflake Offering cloud-based data solutions, Snowflake helps to engineer and manage data architecture for a variety of applications.

Workflow can also be simplified with a single, secure data storage point. Snowflake allows for unlimited performance and scale and removes the need for maintenance. Pricing is based on the volume of data stored as well as computing time used. https://www.snowflake.com/ Snowflake is available to purchase directly from the website.

VMware Carbon Black Cloud Acquired by VMware in 2019, Carbon Black Cloud is a softwareas-a-service (SaaS) that provides antivirus protection, endpoint detection, threat hunting, and vulnerability management using a cloud platform. About one-third of the companies on Fortune 100 are customers. Their two main products are Cloud Native Endpoint Protection and Cloud Workload Protection.

RAHIM MOHAMMADI

https://www.carbonblack.com/ Carbon Black is available to purchase directly from the website.

Sentry Sentry is an error monitoring software used by over one million programmers for diagnosing, fixing, and optimizing code. It finds and presents issues in dozens of languages, frameworks, and libraries, such as JavaScript, Python, and Cocoa. Sentry also integrates with GitHub, Slack, and Jira (among many others) and is used by companies like Microsoft, VMware, and Reddit. https://sentry.io/welcome/

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1Password Beyond securely storing website passwords under the lock and key of a user’s master password, 1Password can also store other sensitive data like banking information, credit cards, and addresses.

It also actively checks for privacy breaches in other companies and warns users if their information may be compromised. Users can rely on the convenient sharing function, allowing teams or even family members to have access to specific accounts. https://1password.com/business/ 1Password is available on desktop and mobile and as a browser extension on all major operating systems, devices, and browsers. //

3601 Highway #7 E. Suite 210 Markham, ON L3R 0M3 P: 905.305.8771 F: 905.305.8122 E: ramo200055@yahoo.ca Spring | Summer 2021

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leadership

CANADIAN LEADERSHIP IN THE GLOBAL ECONOMY

by Lisa Day

F 64

the EDGE Spring | Summer 2021

rom economic growth and global trade to immigration and human rights, Canada is seen as a leader on the global stage on several issues. While most are positive, there is one area that Canada is now known for and it’s not something to brag about—national debt.

According to the Financial Post, Canada saw the “biggest jump in non-financial sector debt this year, beating Japan, the U.S. and the U.K.” With pandemic spending, Canada also shows a large increase in household and non-financial corporate debt. However, we still remain leaders in the following valuable sectors.

leadership

Economic Growth Economic growth is the increase of a nation's production of goods and services as well as the gross domestic product (GDP) of its residents. Canada is often a leader in economic development in the G7 countries, which includes the world's most advanced economies—Canada, France, Germany, Italy, Japan, the United Kingdom, and the United States. Since 2017, Canada has consistently been in the top spot for economic growth.

Global Trade Canada relies on international trade, which accounted for 65 per cent of its GDP, according to the Government of Canada in 2019. The country’s top-three exports are energy, motor vehicles/parts and consumer goods, which the government says account for 45 per cent of all the country's exports.

Canada’s top-three trading partners are the United States, the European Union and China, although trade was down slightly in 2020 due to COVID-19.

The Government of Canada has reported that the country has all the key ingredients for a “global trading hub”—including being located next to the United States (the world's largest economy), having ports on both the Atlantic and Pacific oceans, and its highly educated and multicultural population. Canada's natural resources along with its agricultural and manufacturing industries (such as automotive and aerospace) are also keys to this country’s standing as a global leader.

Immigration In 2019, approximately 340,000 new residents called Canada home, including almost 70,000 Syrian refugees, the highest number of immigrants in more than 100 years. These new residents are part of the one-million people the government wanted within its borders by 2020.

Canada enjoys a reputation for being a welcoming and inclusive place as people from a wide variety of cultures and ethnicities call the country home.

About a fifth of its population was born elsewhere. It's for this reason that many

other countries—even those that also welcome new residents—turn to Canada for advice and “creative solutions” on how to make it work, as posted on the Toronto Region Immigrant Employment Council website.

Chief Filippo Grandi of The United Nations Refugee Agency (UNHCR) has commended Canada “for being a 'champion' of refugees with its farsighted and generous resettlement efforts.” Immigrants have helped Canada counteract the dual problem of its aging population and low birth rates, while increasing its economic growth. Many of its new residents are highly skilled professionals. In addition, Canada hosts about 800,000 temporary workers and international students, according to the Council on Foreign Relations.

Furthermore, Canada has adopted the Feminist International Assistance Policy, which is aimed at doing more for refugee women and girls at risk. At least 95 per cent of Canada's foreign aid helps improve the lives of women and girls.

Human Rights Canada is an advocate of human rights and democratic governance issues within its borders and abroad. According to the government, the country has been a strong leader in the protection of rights, including those of women and refugees, since it helped draft the Universal Declaration of Human Rights in the 1940s. Key issues include gender equality; freedom of religion and belief; human rights against lesbian, gay, bisexual, transgender, queer, and intersex (LGBTQIA) individuals; and people with disabilities. Canada is known as a global leader through its work with the United Nations, the Commonwealth, La Francophonie, the Organization of American States, the G7 and the Organization for Security and Co-operation in Europe (OSCE).

COVID-19 Prime Minister Justin Trudeau was ranked highly among world leaders on how he handled the COVID-19 pandemic.

Canada's provincial premiers were also

ranked even higher in their handling of the pandemic. To offer relief in response to COVID-19, the prime minster and premiers offered financial support to Canadians struggling to survive the pandemic.

Canadian business leaders also stepped up to ensure that their employees and others were safe, donating to charities and evolving business practices to ensure Canadians had access to personal protective equipment (PPE) and other necessary items.

Canada was one of the first countries that purchased vaccinations for its citizens and is among the first countries to receive them, once approved. The majority of Canadians could be vaccinated by September 2021.

Canada-U.S. Border Canada and the United States closed their shared border in March to prevent the spread of the coronavirus. However, diplomatic trips and essential travel were still allowed. In late 2020, Canada chose to extend the closure of the border as COVID-19 cases in the U.S. continued to climb.

Environment Despite the dire warnings about the environment, Canada is still considered a global leader in its effort to protect the planet. According to a Fraser Institute report, which offered a ranking system of 33 high-income countries, Canada came in 10th place in a range of measures that included air and water quality, greenhouse gases and biodiversity. Canada was only three points behind third-place New Zealand, with Sweden ranking first.

Canada consistently ranks among the top countries in the world as a place to live because of its healthcare and public education systems, safety, solid job market and stable political system. It can also be included among leaders on the world stage for economic growth, global trade, immigration, human rights, COVID-19 response, the Canada-U.S. border, and the environment. //

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Photo courtesy of Valeria Lipovetsky

FROM MODELLING TO MEDIA: HOW VALERIA LIPOVETSKY FOLLOWED THE RUNWAY TO SUCCESS

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by Dave Gordon

One Toronto-based influencer has gained herself fourmillion followers in four years, across

multiple platforms, having risen above an already crowded arena.

The influencer (an online content creator) is a phenomenon that has been rapidly growing in the past half decade. They are countless, accruing millions, tens of millions or even hundreds of millions of hits and followers.

Valeria (pronounced Val-air-ya) Lipovetsky is now a popular content creator and entrepreneur, who developed her very own brand. Through

a variety of online media, she informs and entertains her viewers on topics such as beauty, health and motherhood.

Together with her husband, Gary, they present paradigmatic lessons for many entrepreneurs: the patience to learn new technologies and the ability to recognize the value of media for modern businesses.

Valeria Inc. was built from a modest start and eventually found its niche and success.

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After a decade in the modelling industry, Valeria believed video content creation to be the “natural transition.”

“I felt pretty comfortable in front of the camera. After I got my nutrition degree, I realized that I wanted to contribute the knowledge I had on a larger scale. Social media just made sense for me. I didn’t think that being an influencer was an actual career,” she notes.

“I just did it as a side project, where I learned how to edit and upload and all these small little things.”

She went from dabbling in YouTube to being a fulltime content producer, when she and Gary—a former online media maven—decided to join forces using their respective talents (Gary later began his own channel, Bestie).

It was a relief for Valeria, who no longer wanted to be “in a situation where I’m putting my success in other people’s hands.”

Like with any new beginning, the operation was a learning curve, as much on the technical side as the business side.

“Back then, even pricing and the way we work with companies, and usage rights, and creative control, all of these things, I, as a model, never had any part of because I was represented by middle people, like agents. That was a very interesting thing to learn—a lot of trial and error,” Valeria explains.

Today they are a fully functioning media company with a 25-person staff, working directly with clients and agencies.

With literally hundreds of videos produced, she received 104 million views for her pregnancy transfor mation video; three million hits for their birthing vlog; over a million hits for “Eight Instant Ways to Look More Attractive,” and a half a million hits for “Ten Weight Loss Mistakes.”

How the product (the content) remains popular and alluring to audiences is all about knowing how, or when, to make adjustments.

“For us, it’s always being ready to pivot or change because our industry is so dynamic and changes so fast.

It’s really feeling comfortable with the uncomfortable, every day,” she says.

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Gary adds: “We can start doing things a certain way, and then a few weeks later, that content doesn’t hit anymore. So, now we have to change course. We have to constantly reinvent ourselves. That’s a weekly pivot we are doing—being constantly ahead of the game.”

One recent example was adopting TikTok: “We were a bit late to the game, and we should have been there earlier,” Gary notes, but now, they have amassed an audience of a million followers.

“Every time you start creating content for a new platform, it’s like starting all over again—not only from an audience development and growth standpoint, but also understanding what type of content resonates on that platform.”

“Still another major shift”, he says, “was powering up [our] e-commerce operation,” which now consists of five employees that oversee their fashion and accessory line, Leia, Valeria’s “tried and tested” line of shirts, sweatpants, and jewelry.

“Rather than taking the time to figure it out ourselves, we hired top people in the industry to do that. It is a critical entrepreneurial lesson,” he says.

An important idea he wants to impart is how visuals and multimedia are increasingly vital to market a business, and he advises newcomers to the field not to be daunted by the challenge.

Admittedly, there are algorithms and analytics to become familiar with, “[B]ut at the end of the day, it is not this elusive thing, where you need to be a rocket scientist to figure it out.”

He recommends to “start putting out valuable content, and leveraging your expertise, to educate people. If you do this, you will find through trial and error, what works, and what doesn’t work.”

Gary suggests to not be shy about sharing your knowledge online to gain a solid reputation in your field.

The key, ultimately, is to be authentic: genuinely and passionately talk about your topic.

“This is a buzzword that goes around in the industry.

As opposed to creating content that you think people want to consume, to ‘game’ the system; it’s just a losing battle,” he explains. That authenticity, after all, is one of the many reasons why Valeria has accumulated such a vast following. //

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JOELLA ALMEIDA

Advocating for Equality of Access to Entrepreneurship and Health

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by Carlie Doan

T he COVID -19 outbreak and subsequent per sona l a nd economic impacts have, no doubt, had vast ramifications on daily life for both individuals and businesses—a fact sadly truer for some Canadians more than others. Fortunately, there are leaders like Joella Almeida, whose work—which focuses on equitable access in both the non-profit sector and through a health-tech start-up—could not be timelier.

Through her role as a director of strategic partnerships with the Canadian Women’s Chamber of

Commerce (CanWCC), Almeida works to enhance opportunities for women entrepreneurs and business owners to overcome commonly faced challenges, including systematic barriers to success and a lack of community connection. In 2019, Almeida also co-founded MedEssist, alongside Michael Do, whose inventory-based platform is playing a critical role in the current COVID -19 vaccine distribution to Canadians, connecting patients to doses based on personal risk and priority.

MedEssist has been right in the thick of things amid the current vaccine rollout, having just partnered with the Ontario Pharmacists Association, but Almeida took time out of her busy schedule to speak with The Edge about the challenges women and marginalized groups have faced during the pandemic and the future of digital health in Canada.

Photos courtesy of Joella Almeida

In a nutshell, briefly describe your career background and your current work with both the Canadian Women’s Chamber of Commerce and MedEssist.

There is no way I can do justice to this answer in a nutshell! My full-time role is leading Operations at MedEssist, a start-up that provides technology and digital infrastructure to pharmacies solving population scale health initiatives like COVID-19 vaccine dissemination. It’s a unique role where I work with my team to improve the everyday health of Canadians by empowering them to access, understand and manage their health through technology, actively participating in the current vaccine rollout across Canada.

In my longer-standing, part-time role with the Canadian Women’s Chamber of Commerce, I lead Strategic Partnerships to level the business playing field for Canadian women entrepreneurs across the country so they can access growth opportunities for their businesses.

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Have you had a defining moment in your life and, if so, how has this changed you for the better?

There have been multiple defining moments stemming from my time at the University of Toronto and to learn from them has taken a lot of meditating on actions and past intentions but also focusing on what the learnings in each challenging moment were.

The strongest thing I could point to is sticking to my core values and beliefs and I’m very grateful for my third culture background and upbringing for enabling me this grounding.

What has led you to want to work with women in an advocacy role and how have you been able to do this through your work with the Women’s Chamber of Commerce?

I’ve studied, observed, lived and seen first-hand how women have still not achieved equity in so many areas of society, especially as entrepreneurs and business owners. The year 2020 showed us that advocacy is incredibly powerful. Through COVID-19, the rise of the Black Lives Matter movement and civil unrest [in] almost

leadership

all of North America, we’ve seen a return to grassroots activism and political advocacy play a huge role in garnering change in leadership and actions at the highest levels of government. Right here in Canada, we saw funding disproportionately restricted from underrepresented groups like Black and Indigenous women as well as the LGBTQ community.

The Canadian Women’s Chamber of Commerce surveyed members and produced a report in March at the onset of the pandemic called “Falling Through The Cracks,” that led to the release of $15 million in funding for the women entrepreneurial ecosystem.

Throughout the pandemic, the Chamber supported members and the women’s entrepreneurial community by advocating for funding, resources and holistic support for entrepreneurs. In our pre-budget consultation, we recommended the government consider recovery funding, refundable tax credits for mental health expenses and a universal childcare plan; all of which were referenced later in the Throne Speech.

With your vast experience working with women business leaders, and as a woman executive and entrepreneur yourself, what do you think are the main obstacles facing women in the workforce in today’s economic climate?

A lack of financial, operational and policy support. We found that 53 per cent of women entrepreneurs experienced an additional burden of childcare compared to only 12 per cent of men entrepreneurs in a national survey conducted in March, for example. Operationally speaking, women entrepreneurs struggled to balance work from home alongside virtual classrooms during the pandemic that urged for adopting new models in the way we work from home by either offering flexible hours or providing stipends for parents to access services to assist in childcare while working from home. An intersectional gender lens was missing from policy decisions and left many women of color and underrepresented groups with an inability to access government programs and benefits, including financial subsidies and even emergency benefits. I don’t think it’s up for debate anymore.

Research from FreshBooks confirmed this year and showed that on average it took Canadian women-owned businesses ten weeks to rebound from COVID-19 versus five weeks for men. Even industries that are normally women-dominated (e.g., healthcare and social assistance) are now seeing male-owned businesses recovering significantly faster as often they don’t have the burden of care (of family members) placed on them.

Tell us more about the origins and need for a service such as MedEssist. Upon co-founding in early 2019, pre-COVID-19, what was your mission and vision for the company? Has the pandemic since changed this strategic direction?

Our mission pre-pandemic was to improve the everyday health of our patients by empowering them to see, understand and manage their health through technology. We also wanted to do this in a way that eased the process or workflow on pharmacists who are actually the most accessible front line health care workers during the pandemic. The onset of the pandemic brought our strategic plans to achieve this forward from three years to six months. We were not only able to scale our solutions across Canada despite the move to a virtual environment, but we succeeded at helping thousands of Canadians get access to healthcare services like flu shots across the country despite delays in supply and the ever-changing provincial regulations due

to the pandemic. Today we’re solving population-scale health initiatives like distributing COVID-19 vaccines to Canadians through their pharmacies across Canada, and actively through the Ontario pharmacy pilots across Toronto, Windsor and Kingston. However, we’re also providing digital infrastructure for other areas of pharmacy practice as well, like easier access to services such as asymptomatic COVID-19 testing, staff screening, medication reviews and much more.

What developments would you like to see in the Canadian health-tech sector in the near future?

It’s a cliché but Canada really is behind in adopting digital health compared to the rest of the world in some respects.

However, the pandemic brought forward a lot of new initiatives and an unwavering prioritization of patient care like we’ve never seen before. Virtual doctor visits, digital consultations, online prescriptions, [and] access to lab work and patient records all saw a huge leap forward that is probably here to stay. I’d like to see stronger legislation around access to healthcare services that isn’t restrictive and even more patient-centered care without barriers by regional and provincial governing bodies but more interoperability that’s built into the design of solutions.

What have been some of the greatest challenges that you’ve had to endure while building your business and what lessons have you learned from these adversities?

During the height of the pandemic, trying to find a sense of normalcy and work-life balance was absolutely impossible, especially as close acquaintances dealt with health issues and remote work robbed us of a sense of in-person camaraderie and physical community. The biggest lesson was how resilient my teams were. I consistently say that working at a start-up and a non-profit have a lot in common—both have incredibly passionate people at the helm, are constantly under resourced but overly motivated, and both attract strong, resilient folks looking to make a difference in the world.

Due to the current instability and an uncertain future, what advice would you give to budding entrepreneurs wanting to start a business now and especially to those who are afraid to do so?

There really is no better time to start than now purely because if you can overcome all the challenges that present itself during a pandemic and are still able to rise to the occasion and start something, you may certainly be able to channel that energy into long-term success. All the greatest innovations were born from tough times. COVID-19 has definitely disproportionately affected women and people of color, however, so if you’re still finding yourself itching to start something now, do it. Your ambition will guide you and you’ll be better for it. Fear is the great paralyzer, so don’t give in; take the leap and in the worst-case scenario you [will] learn something new and gain new transferable skills!

What does success mean to you?

I find success really hard to define, but, at the moment, it’s about being able to live a life that’s authentic to my values of empathy, loyalty and chasing how much positive impact I can leave on the world through what I build at work, my interactions with people and supporting those around me. //

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