Marketing, Finance and HR Tips for Business Growth
Jan 30, 2020
In the beginning of 2020, we co-hosted our second Foxquilt Entrepreneur Summit with Deloitte Private at the Deloitte office in Toronto. We wanted to give small business and start up owners in the city an opportunity to learn from leaders in Marketing, Finance and HR and meet other entrepreneurs to connect with. Each panel shared many tips for business growth - from early stage investing to retaining your talent. If you didn't get a chance to attend the event or just want a recap of the panel's discussion, we compiled some of the top takeaways from each panelist.
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Growth Tips for Marketing
On taking advantage of new technology in Marketing:
"We're often stuck in old school marketing...people aren't considering new types of marketing like podcast advertising...it's a good way to market to new audiences."
-Fatima Zaidi of Quill Inc.
On forming relationships in Marketing:
"We want to make sure we have strong teams too...make sure the relationships you have with the people around are strong...they are paramount to growing your business too."
-Duong Thai of Deloitte Canada
On using AI and machine learning in Marketing:
"AI is still definitely growing and getting better and better...But you should give strategic thought to how it's solving customer problems and if it actually is solving it."
-Jared Kligerman of The Think Tank Marketing
Tips for Financing Early Stage Companies
On finance for early stage companies:
"Traditional bank financing tends to look backwards to historical performance and results...For newer companies, look for value in a bank's cash management...Can a bank help a company manage cash flow?"
-Josh Spagnoletti from CIBC
On what investors look for with early stage companies:
"Do you have a vision? Have you thought about how you're going to finance? Not a lot of people think about that...we like to hear if you have a back up plan."
-Jerome Hamilton from BDC
Advice for early stage companies & investors:
"Stuff goes wrong...You need to be comfortable with opening up on that with investors; they can open doors for you...Explore what other value can investors add...They can help."
-Snita Balsara from MaRS IAF
Growth Tips for HR and Talent
On crafting your business story when hiring:
"Regardless of size you're at, you should think about what is your employer brand. What is your story? What's your mission? What can you craft to make them want to join you?"
- Leah Brighton from Mirae Talent
On hiring outside of your local area:
"The new trend is that the Earth is your talent; you're not just limited to the GTA. There's no shame in having a fully remote team."
-Ali El-Shayeb of Nugget.ai
On how to interview potential talent:
"A lot of magic happens in the interview...Show you can provide a good future...At the end of the day, it's about relationships; it's a two way street...it's about selling your company to them too."
-Charlene Teed of SOTI Inc.
On work culture as your business grows:
"We tend to default to founder worship; it can really affect new employees and hurt your efforts as you scale. Demonstrate your excitement for people from the beginning and newcomers; they're both important."
-Yiorgos Boudouris from Jobber
Check out more tips on small business management.
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