How to Find Business Success in the First Two Years

One of the most surprising business-related statistics is the fact that 80% of entrepreneurs fail within the first two years. As somebody who has been part of a company from its conception, I have been through a tumultuous journey, and on this journey I have become wiser and more receptive to the challenges that have been thrown at me. Here are some of the pearls of wisdom I can offer to ensure that your business has a greater chance of success within the first two most difficult years…

Keep track of everything:

Every single payment, measurement, conversation and email sent needs to be kept track of and well documented. Organization within a workplace can be the key to its success. If you create written systems for everything, then you will most certainly see the benefit. A great way to maintain a level of consistency and organization is to make sure that you ingrain these systems into every fibre of your business and train your employees accordingly. Be sure to make your daily decisions and set your targets and expectations based on the data you collect, whether that is based on figures, inquiries or anything else related to your industry. Although this may seem like a really obvious thing to do, as a business owner there are a million tasks that can easily shift your focus and making decisions based on advice or hunches can often be tempting.

Hire smart and don’t micromanage:

A great business owner will tell you that your employees make your business. Their success is your company’s success, and their failures are your company’s failures. Only welcome people through the door if they share the same passion as yourself. The hiring process is an excellent time to gauge the strengths and weaknesses of a person, so be sure to really get a feel for how the person thinks and feels before bringing them on board – however tempting it may be, never ever fall into the trap of making quick hires!

If you recognize the strengths of your employees and delegate effectively, then then success will follow. Don’t fall into the trap of micromanagement as this can demotivate your employees and distract you from other tasks within the business. Use incentive-based reward systems to motivate and inspire your employees and ensure that you have proper training procedures in place to get maximum results.

Don’t be stubborn:

A successful business owner is versatile and receptive to change. Never marry yourself to your business plan, as markets change, industries change and in order to stay relevant, you must change with them. Don’t let your ego get in the way of your businesses success, if your plan isn’t working then take a step back and explore other avenues to take. Remember, that every day is an opportunity to learn more about your industry and about how the world works, so be receptive to change and open to advice.

Alice Porter is a business writer for Roger Hannah, she is passionate about sharing her knowledge with like-minded professionals and new business owners.

Entrepreneurship Camp is Back!

You asked, and we delivered! CEED is excited to announce we will be offering our popular Entrepreneurship Summer Camp in five locations across the province this summer.

Camp gives kids in grades 4 – 7 the opportunity to learn and experience what it takes to be an entrepreneur. Campers are encouraged to generate business ideas, identify opportunities and put together a running business in just three days. Campers will “open up shop” and test the viability of their product or service by running their business for a day. Last year, with a little mentoring and guidance, our campers earned over $1,000 in profit to take home!

This year, join us in Sydney, Truro, Kentville, Halifax and Dartmouth as we help more kids than ever before experience the excitement and challenges of being a business owner.

Registration is now open and spaces are filling up fast… Don’t miss out on the chance to send your kids to an awesome camp filled with fun, creative and engaging activities to help them grow, and perhaps even make some money!

Welcome to our new website!

We have revamped our website to create a more visually appealing and user-friendly experience for our clients. Working with our skilled web partners, we’ve put a lot of thought into the change. We’ve streamlined and reorganized navigation, as well as simplified content – with the goal of helping you find what you’re looking for quickly and easily.

We’re proud of our efforts! Along with a crisp and engaging new look, it’s faster and more responsive, and formats seamlessly for whatever device you are using.

We’ve also used this opportunity to make some much needed under-the-hood improvements that will make our jobs easier, allowing us to operate our site and communicate with you more efficiently.

We hope you find it as fresh and exciting as we do!

CEED Welcomes New President and CEO: Craig MacMullin

CEED will be kicking off 2017 with an exciting change of faces as Craig MacMullin makes his debut as President and CEO. Along with an infectious attitude, Craig brings many years of widespread experience and looks forward to making the most out of the his time with CEED.

As a native Cape Bretoner, Craig is always making an effort in getting to know the people around him. This outgoing attitude was reflected as he sought out to form a relationship with each and every employee. In the short span of time he has been here, Craig has displayed his strong leadership skills remarkably well.

Leading his first staff meeting, Craig encouraged everyone to participate in finding and suggesting solutions for various challenges that the organization faces. By welcoming this collaboration, employees feel their opinion is valued and that each person plays a vital role in the organization’s overall success. Craig is effectively working toward a good-humored work environment structured upon a foundation of teamwork.

Craig believes in having his team share their perspectives on issues. He believes this is the best way for him to see a situation from every angle thereby allowing him to make the best decision and thus the right strategic move.

A system based on accountability is another aspect Craig wishes to bring to the table and put forward into CEED’s work environment. By helping facilitate an individual’s ability to hold himself accountable, Craig encourages said individual to learn from their mistakes. Craig believes that failure isn’t viewed as the end, but rather an opportunity to learn from your mistake to go forward. Viewing failure as a learning mechanism to re-evaluate what and how you are doing something and devise a new strategy to reach your goals is what the entrepreneurial spirit is all about.

CEED is enthusiastic to welcome Craig MacMullin as our new President and CEO. We are eager to be a part of his vision for CEED and excited to continue encouraging members of our community to have the courage to chase after their entrepreneurial aspirations!

Larger Than Life

Although many small business owners strive to keep the “little guy” in mind, Large Lad Clothing creator, James Weir, is trying to do just the opposite.

As a bigger guy, James Weir has had his share of challenges trying to find stylish clothes that fit. He recalls experiencing a shopping trip in late 2014 when he yet again failed to find decent wardrobe options, as the moment when decided to create Large Lad Clothing. With the encouragement of his wife, and the Self Employment Benefits Program at CEED, he went on to establish a quality clothing company, tailored exclusively to larger men.

From a Food Truck in Fall River to a Restaurant in Antigonish

blog photo 1In 2014 Fernando Maceira opened Fernando’s Grill, a food truck with a semi-permanent location in Fall River. He served Portuguese and Canadian Specialties and, according to my taste buds and the comments on Facebook, very good ones.

After two seasons it was sad to see the space empty. But I knew there was more to come.

Entrepreneurship Summer Camp!

After last year’s successful pilot, CEED is excited to announce that we will be hosting another interactive and fun-filled summer day camp for youth grades four to seven!

Participants will grow solid roots within the world of entrepreneurship during the CEED Entrepreneurship Summer Camp – they will experience problem solving, creative thinking, teamwork and risk taking, and walk away with the ability to apply these skills in their daily lives and future business endeavors!

The Mindset Project

Calling all entrepreneurs – this is your chance to take part in innovative research that is looking into the mental health of entrepreneurs!

The Mindset Project is a privately-led national research project looking deeper into the mental health impacts of entrepreneurship in order to develop stronger supports for business owners. The Project was initiated by Michael Devenney, President of Bluteau Devenney, who has recently begun sharing his journey with anxiety and depression throughout a successful career as an entrepreneur.