A day to remember

It has been a couple of days since the conference and I admit I have just chilled, enjoying the emails flooding in from women saying how much the event had inspired them.  For some even life-changing.  Wow.

When you plan an event for a year, it’s easy to lose track of the impact it may have on the participants.  Particularly as closer to the event, you get caught up in logistics, who sits where, what to have to eat, and finalizing all the last minute registrations.

But as I listened to the speakers throughout the day, and heard the buzz in the room, I knew we’d “done good.”  Without realizing it, there seemed to be a real theme, a thread that wove its way throughout the day.  I never know what the speakers will say, but each message seemed to underscore and lead to the next.

We got off to such a lively start with Liz in her gangnam dance.  I knew she was going to do it, but frankly, being a YouTube luddite, had not heard of this video, so didn’t really know what she was planning to do.   She must have lost at least five pounds with all that bouncing and dancing.  Still it was all for a good cause – creating a fun, upbeat start to a day that would transport many to different and new horizons. 

Dr. Ginger Grant was quick to tell us that as women entrepreneurs we were the underpinning of the economy and we need to step into our spotlight (thanks Tsufit) to shine and share our talents with the world.   I could have listened to her for hours as she shared her wisdom and learning about creativity.   

While Ginger piqued our brains to start us thinking and going down the right creative path, our Courage Panel awakened our emotions. Linda Lundstrom, Fay Chapple and Trey Anthony were so open and honest in their discussions.  There were times when it was raw, and you could feel the pain and yet the message was clear.   You have to do what it right for you.  Life is too short to be stuck in a job, a relationship, a business that no longer feeds your soul.  My sense is this was the life changing moment for some in the audience.

From the opening Dragon’s Den clip that showed Barb Stegemann converting Arlene Dickinson and Brett Wilson to take on her business, to her frank discussion about her humble beginnings and then the development of a profitable business that also helped build the economies in war-torn countries, Barb had everyone spellbound.  So much so, that our afternoon plans had to be diverted as crowds gathered to purchase Barb’s book and perfume.

So in plan B, we had to somewhat shorten the group discussion and turn our immediate attention to the experts.  But then we had our own Making the Pitch challenge. It takes courage to enter something like this, and I commend all three finalists for taking that leap of faith.   Our congratulations to Daina Makinson for winning both the audience and the judges over, not just with her video clip, but her sense of humour.

So all told – an eventful day that while it didn’t altogether go to plan, was truly inspiring and impactful to all who attended.  My challenge, I can see, as I tend to compete with myself, is to make next year's conference even better.  See you at the 8th Journey 2 Success conference.

ENTERING THE DEN

Some call him a Shark, others a Dragon. But meeting Robert Herjavec of Dragons’ Den fame was less scary than you would think. He’s actually a likeable, down-to-earth, shrewd businessman who has worked hard to achieve his success.

Along with several other “media,” I had the opportunity to sit in on a media conference before he spoke at the Toronto Entrepreneur launch this weekend. What first struck me however was the length of his hair - it was longer than I thought. Overlapping on his collar, it gave him a younger look and he is a lot slimmer than he appears on television, but they say that the TV adds ten pounds.

He talked about the role Dragons Den has played in making entrepreneurship sexy. It is now considered cool to own your own business and at a recent talk at Wilfrid Laurier, he was encouraging the students to “become great at something you do and the money will follow.”

Being on the show he has seen many budding entrepreneurs and he encourages anyone thinking of pitching to the Dragons to do their homework, do the math. “When we ask you what you want the money for – don’t say marketing, “ he advises. “You are wanting us to invest in your business, be prepared for real world questions because if you can’t answer them, then you are in trouble.” he adds.

His parents who came to Canada with nothing and who could not speak English, are his inspiration. Because of the sacrifices they made for him, he was determined to be successful. In the early nineties, he was waiting on tables at a local restaurant and launching BRAK systems in his basement in between shifts.

Ironically, while the Dragons often seek a share of the business in return for their investment, Herjavec himself prefers to keep all the equity to himself. He wants to own his businesses 100 percent.

Herjavec sold his first business to AT & T for $100 million. At the time he was offered stock or cash. Unsure which way to go, he asked his accountant and other advisors, who recommended he take the stock. But that wasn’t sitting right with him, so he asked the one person he knew who would give him an honest answer – his father – who said take the cash. He took the cash but a few months later the stock value was on the rise and he started to question his decision, however not much later, the company folded. Had he taken the stock, he would have been left with nothing.

After a three-year hiatus, he started up the The Herjavec Group and he admitted that it hasn’t grown as quickly as he thought. “In some ways when you don’t have much money to invest, you stay laser-focused and less willing to take risks. Whereas this time I’ve thrown money at different things, and they haven’t all worked out. “

It was interesting to learn that no one within the company has a title on their business cards. From Herjavec’s perspective, all his staff have the same job – to keep the customer happy.

When asked about giving back, Herjavec started by explaining that culturally in Eastern Europe, you don’t give back. Having said that, he went onto say while he can’t help everyone, he’s chosen causes that have personal meaning to him. And family always comes first.

As Herjavec points out, we all have the same 24 hours in a day, it’s what we do with that time that counts. We have no one to blame but ourselves if we don’t use our time wisely.

Clearly Herjavec has made every second count.

Making the Pitch

“First you have to sell yourself, then your product,” advised Diane Buckner at the recent Coliseum competition at the Rotman School of Management. Buckner, who is host of Dragon’s Den and Fortune Hunters, knows a thing or two about making successful pitches and was the moderator for the event.

There were five finalists and each had five minutes to make their case. Like Dragon’s Den, there were three judges – successful entrepreneurs who knew all about making a business succeed.

It was interesting to watch each presentation, and even more interesting to see the outcome. The winner had a unique product, which if it is well-marketed and positioned right, could do really well. Although it didn’t appear that he’d done much math in working out the costs of this venture. But his concept captured the judges’ attention and everyone likes to be part of something new.

The runner up excelled at showing her passion and it was her ability to sell herself, that sold the panel on her business concept but again the important number-crunching wasn’t evident.

Yet, the person who got “honorable mention” was the one, in my opinion, who truly did the best presentation, she knew her figures, had clearly a solid business plan, but somehow didn’t sway the panel with her idea.

As for the other two finalists – all I can say, is don’t give up your day job!

In looking at the results, it becomes clear to me that none of us really knew or understood what the criteria was for selecting the winner. The audience got one vote, so it would have been helpful to know what the judges were looking for as then we could have all been on the same page.

One lesson to take away from this is just as Buckner said, if you can demonstrate your passion for your product, it will take you a long way. “

Dragon's Den

A small group of us gathered on Monday night to watch the Dragon’s Den. We had a vested interest in watching, because not only was Company of Women member, Marissa McTasney, one of the star pitchers this week, but several of us were part of her presentation. You’re allowed to bring props to the show, and Marissa chose to have 30women showcasing her hard hats, workboots, toolbelts and T-shirts.

It was fun to be part of that day, although I was glad no one asked me what type of handy work I do! The dragons interviewed her for over an hour. That’s a long time to be in the hot seat, but Marissa could answer all their questions, stood her ground and believed in herself. As I watched the extract shown on Monday, I was proud of her, and all the Company of Women members who gave up their day to be on the show with her. Now that’s women helping women.