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The best startup advice for entrepreneurs in 2018

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The best startup advice for entrepreneurs in 2018

This week marks the end of January. An innocuous time that represents the so-called ‘quit date’ for almost 80 per cent of the population who made new year’s resolutions. According to U.S. News, it’s the most popular time of the year for people to abandon their goals and to-do lists.

Of course, entrepreneurs — just like everyone else — have a hard time sticking to resolutions. Regardless of whether its boosting time management or just saving money, turning thought into reality can be tough. To help readers stick to their goals we’ve collected some common startup-related questions DMZ companies posed last year and paired them with the perfect advice from today’s top entrepreneurs.

Launch a successful new product

 
In today’s non-stop world, being first can sometimes feel like the most important thing in the world. However, putting out an inferior product is all it takes to tank a company’s reputation for good. In a 2017 Rolling Stone interview, Elon Musk confesses some of his past mistakes and what he’s learned over the years about what it takes to launch a successful product.

“Better to do something good and be late, than bad and be early.” @ElonMusk, CEO of @Tesla and @SpaceX

Advice: Make sure your product is significantly better than the competition. If it isn’t go back to the drawing board and make those necessary improvements. Tiny incremental upgrades won’t be enough to sway the marketplace. Consumers will usually choose a trusted and well-known brand over a new one. Figure out if your product is ready enough to go to market before wasting time on promoting it.

Always test your product with industry insiders who aren’t friends or family. Sometimes friends will encourage your progress without divulging their critiques. This will only hurt you in the end.

Find the right people for your team

 
Hiring the right talent to grow your company, especially when you’re just starting out, is hard. Startups don’t have the extended network or expertise that older companies do at their disposal. Steve Jobs, infamous for being fired from the company he once co-founded, found a way to get around this.

“It doesn’t make sense to hire smart people and then tell them what to do; we hire smart people so they can tell us what to do.” Steve Jobs, cofounder of @Apple

Advice: Entrepreneurs should look for smart people who are passionate about their role not just the most experienced in the room. It’s these people who can help further your company’s goals and are likely to put in the extra work needed in the very beginning.

Don’t neglect potential hires because their background and education differ from what the industry expects. Hire based on their ambition, skills and openness to learning on the job. For example, one of Job’s most famous hires was Debi Coleman, a 32-year-old English Lit major from Stanford. She was hired as a controller for the Macintosh project in 1981 and later became the company’s chief financial officer.

Overcome bad press and/or industry coverage

 
Uber isn’t out of the gates just yet, but it could serve as the perfect case study for future companies on what not to do. The ride-hailing company has been criticized for years over everything from its surge pricing to security mishaps. And even though it still has several issues it needs to address and overcome it’s now working to overturn its image. The company’s new CEO has apologized for the company’s past behaviour and on a mission to change its public image.

“We don’t have a PR problem; We have an ‘us’ problem.” @Dkhos ‏, CEO of @Uber

Advice: When a company makes serious mistakes sometimes the best next step is to acknowledge it and start making amends. Uber did that through its public apology to London users last year. It also pledged to do better and launched a new campaign.

Address the issues that created big mistakes. Uber did this by removing its founder Travis Kalanick and implementing a new board. While firing an entire group of people may seem a little extreme, the lesson here is to make sure the problem never happens again.

4 Toronto startups to watch out for in 2018

Last year saw explosive growth in the Toronto startup scene. Some of the city’s most popular homegrown companies raised million-dollar investments, extended their services across the country and expanded into the U.S.

While it’s never easy to pick which startups to highlight for our must-watch list, the following truly stood out in 2017 and arevexpected to do big things in the coming year.

TopHat


TopHat is one of the few Canadian startups dominating the education technology (edtech) space. It offers college and university instructors an easy-to-use platform that combines online tests, interactive tools and digital textbooks. In fact, the company’s products have even caught the eye of high-profile schools at home and abroad (Dalhousie University, California State University and Indiana University, just to name a few).

Standout: Last year, the company won ‘Startup of the Year’ at the Canadian Startup Awards for its new learning tools and raised a whopping $30 million. Insiders expect it to do big things in 2018 after taking on international education giants, like Pearson and McGraw.

Ritual


Ritual’s app isn’t used by everyone in Toronto. However, you’d be hard-pressed to find a store in the downtown core that doesn’t feature the company’s logo.

The foodie app lets individuals pre-order food ahead of time for easy pickup and since launching has signed more than 100 businesses across the GTA. Its 2017 wins include a massive Series B round; likely a precursor to more high-profile developments in the coming months.

Standout: Aside from a never-ending list of positive press (everything from features in the Washington Street Journal and Canada’s BetaKit), it also snapped up $43.5 million. The company’s executive team also revealed its 2018 plans to expand into several U.S. major cities.

Rumie


The words ‘nonprofit’ and ‘startup’ may sound like an oxymoron, but companies like Rumie are proving it’s possible. They’re transforming the for-good sector and bent on changing the world by using new technologies.

The Toronto startup develops and delivers low-cost digital learning tools to underserved communities around the world. Its reach extends to Jordan, Turkey and Syria where it teaches refugee youth basic education. In northern Canada, the company is connecting communities that suffer from unreliable bandwidth with offline learning materials.

Standout: Any startup that wins Google’s ‘nonprofit of the year’ award is likely destined to do great things. This year, Rumie plans to expand its presence in Canada and beef up its Toronto offices to take on even more challenges.

StackAdapt


The software company, based in the city’s trendy King St. East area, is no novice in the tech field. The advertising firm counts industry leaders like Google, Banque Libano and Kodak as clients. Most recently it garnered headlines with its #HackDiversity campaign.

The initiative highlights the company’s free app, Unbiasify, which removes names and profile photos of candidates applying through online recruitment platforms.

Standout: Diversity is a well-known problem in the tech community. This startup could help make a real difference with its latest project.

The best tech conferences in North America

If you’re looking for new ways to better your business or boost your startup’s product in the new year you’re in luck. We’ve done all the hard work for you and listed the best startup conferences in North America.

Here’s the best tech conferences taking place in 2018 you won’t want to miss out on.

CES 2018

Las Vegas, Nevada
Jan. 9-12, 2018

CES is one of the top tech conventions in the world. Since launching in 1967, it has served as the testing ground for new innovators and breakthrough technologies. Up-and-coming entrepreneurs have a chance to preview their company’s latest offerings to a bevy of international media, investors and businesses. On top of that, hourly networking, lunch and learns as well as marketing sessions round out the event making it beneficial for both seasoned and new entrepreneurs alike.

TechCrunch Disrupt NYC

New York, New York,
*May 15-17, 2018

TechCrunch Disrupt NYC is often seen as one of the best tech conference on the east coast, and for good reason. It features pitches from up-and-coming startups, world renowned speaker, and onsite demos. For Canadian entrepreneurs who qualify to work out of DMZ’s new office in New York City’s financial district, it’s a great opportunity means you have a dedicated workspace and meeting rooms throughout the week.

Code Conference 2018

Rancho Palos Verdes, California
May 29-31, 2018

The exclusive Code Conference brings together the best tech innovators from across the globe. Some of the biggest names in business — like Jeff Bezos, Elon Musk, Marc Andresson and Sheryl Sandberg, for instance — gather together for in-depth conversations about the current and future impact of digital technology. The event is invite-only, but entrepreneurs can apply to attend the conference starting in January. Bonus: The series offers those lucky enough to attend the chance to hobnob with some of the biggest names in tech over one week.

Forbes Women’s Summit

New York, New York
June 18-19, 2018

There aren’t many tech conferences aimed at women that are bigger than Forbes’ Women Summit. Over the years, the event has featured a roster of the industry’s most successful women entrepreneurs, lifestyle guru Kim Kardashian West, SpaceX president & COO Gwynne Shotwell and Little Lotus Baby founder Jane Chen. The summit is one of the few all-star conferences designed to empower and support women entrepreneurs and influencers. For those lucky enough to attend, it can be a great opportunity to learn from some of the biggest names in the world and network with industry heavyweights.

TEDxToronto

Toronto, Ontario
Fall 2018

A good conference is about more than just hands-on showcases and displays. A great event will push participants to be better and inspire those in the audience to try new things.

While TEDxToronto isn’t exclusively focused on technology its seminars, presented by local influencers, tackle subjects and ideas that impact every facet of life and often touch on business in some form. These profoundly inspiring talks deal with everything from company leadership to career motivation and entrepreneurship.

Last year’s speakers included Paul Rowan (co-founder of home design store Umbra), Gimmy Chu (co-founder of green technology startup Nano Leaf) and Peter Sloly (partner at Deloitte Canada). Of course, Torontonians who can’t afford a ticket can also watch highlights online in the weeks following the event.
*According to last year’s prices (excludes tax).

Elevate Toronto

Toronto, Ontario
Sept. 25 – 27, 2018

This three-day conference in the heart of Toronto is designed with techpreneurs in mind. Founders from Canada’s top companies are on site doling out advice, guidance and tips to those lucky enough to score a ticket.

Toronto entrepreneurs can also rub shoulders with influential government officials and meet with some of Canada’s top tech CEOs and influencers on their home turf. Last year, those willing to splurge on an all-inclusive weekly pass were also able to tour and meet with employees at some of Toronto’s most innovative tech companies.

Mesh Conference

Toronto, Ontario
Winter 2018

If you consider yourself a professional who works in both marketing and technology, then Mesh Marketing could be the most useful conference you attend all year.

This one-day schmoozefest deep dives into operational issues and discusses strategy-focused topics to help individuals better understand today’s top marketing technologies. Although, some of the best perks are found in its invite-only networking events that take place after the conference where you can meet, chat and engage with marketing leaders face-to-face.

The best coworking spaces around the world

The number of coworking spaces around the world is on the rise. In 2017 approximately 1.2 million people worked out of shared spaces; and that number is expected to only grow in the coming year, according to the Global Work Survey.

It’s not hard to see why these types of new-age offices have spiked in popularity. As the economy shifts, more adults are taking on freelance work or launching their own startups. For those who don’t require the kind of mentorship that an accelerator provides, these are a great alternative. Not to mention, many now offer extravagant features — everything from in-house masseuses, to on-tap prosecco and 20-ft swinning pools.

If you’re a digital nomad looking for a cool office while travelling the globe, or an entrepreneur just in need of workspace, there are a ton of places to choose from. Here’s are list of the top offices around the world. 

Parisoma, Silicon Valley

parisoma
Parisoma is an outlier in Silicon Valley, because it successfully blurs the line between an accelerator and coworking space. Members get more than just a place to work; they get access to business classes related to marketing, web development, freelancing and more. Entrepreneurs can network with the 200-plus other entrepreneurs working out of its space or its extended network at any time. Prices range from $325 per month for its “open spaces” with no assigned desks to $7,000 for closed offices.

Standout features: Free community space, in-house admin support, free wifi, access to technical workshops and classes.

Primary, New York City

primary

If you’re a Canadian entrepreneur heading to the Big Apple save money (and alleviate any stress) by working out of Primary.

The co-working space is located in the heart of the city’s financial district. Tech entrepreneurs can apply to join for free through the DMZ at any time throughout the year. If accepted, startups get unfettered 24/7 access to its suite of offices, as well as snacks, complimentary yoga and other wellness classes. Bonus: Entrepreneurs can also take advantage of the office’s exclusive workshops and learning events.

Standout features: Free for select Canadian entrepreneurs, 24/7 access, located in the heart of financial district, lockers and hot desks.

WeWork, London

wework

WeWork — a tech company that operates shared coworking spaces across the globe — has a whopping 24 offices spread out across London and the greater area. Each one has its own design, but carries the same perks found at each of its international locations. Namely, that means big open spaces, private rooms for meetings and dependable wifi.

Prices vary by location, but range from £400 ($677 CAD) per month to £34 ($57) for an ‘on-demand’ day pass. Of course, working out of any office in England’s biggest city doesn’t come cheap. Thankfully membership comes with a few unique perks: The company’s free app lets users do everything from book conference rooms to network with its other creators across the globe. Users also have the opportunity to work out of the company’s other WeWork spaces located in 67 international cities.

Standout features: Pet-friendly, located in the core of London, 24/7 access, meditation rooms, bookable offices, high-speed internet.

Naked Hub, Beijing

Naked Hub
Beijing’s fast-paced tech scene is growing by leaps and bounds. This year the metropolis (along with Shanghai) made its debut on Startup Genome’s top startup cities and companies are taking notice. 

Naked Group may not well known within Asia, but the company’s winning business model in Asia is attracting entrepreneurs (and media attention) from across the country. The luxury resort company opened its first Beijing office, located in a refurbished factory, this spring.  Entrepreneurs who join can connect with other startups working out of its other Chinese offices through its exclusive network and get access to onsite services, like on-demand admin help and wellness services. Digital membership — access to the company’s online community — costs approximately￥300 ($57 CAD). Meanwhile, desk space ranges from ￥1800 ($346) to￥3000 ($577 CAD).

Standout features: On-site dedicated admin staff a.k.a ‘Naked Angels’, hot desks, shared community space and wellness rooms

East Room & Spaces, Toronto

eastroom
If you’re looking for something a little closer to home, then, you’re in luck. Toronto already has a variety of co-working spaces open in the city more planned for 2018. One of those places is Amsterdam-born Spaces, located at 180 John St., Toronto.

Another go-to office is the city’s East Room. Club members get access to its boardrooms, reception services, wifi and more for $500 per month. The highest level, premium membership, starts at $3,300 per month for enclosed offices.

Standout features: Access to its onsite programs, which includes community events with industry insiders.  

 

CBC Dragon Michele Romanow, Upside’s Jennifer Couldrey on bouncing back

Life as an entrepreneur is tough. Constant bootstrapping, non-stop criticism and never-ending capital raising can be overwhelming.

For those that make it — the Bezos, Musks and Zuckerbergs of the world — fame and fortune await. For those that don’t, failure can be a financially (and emotionally) crippling nightmare.

That puts a lot of pressure on founders to always be selling, dealing and, more importantly, winning. But sometimes failing can teach an entrepreneur their most useful lessons. In a world where more than half of all startups shut down knowing how to bounce back has quickly become a badge of honour instead of embarrassment.

If you’re going through a hard time or just not sure if you’ll make it through 2018 here’s some advice from the pros about how to beat back the bad times.

The f-word

Michele Romanow knows better than most the demands founders face. The e-commerce entrepreneur has launched four successful companies before the age of 30. She also regularly wheels and deals investment money as an investor on CBC’s hit show, Dragon’s Den.

When things go south it’s easy to turn negative, but surrounding yourself with entrepreneurs who see the bigger picture and can offer up advice is crucial to long-term success. Invest in people and resources that can help you deal with the inevitable ups and downs ahead of time. “It’s important to have great co-founders and surround yourself with other entrepreneurs who have been successful,” she explains.

“I think when you have people who have done that it makes it so much easier to remind you that ‘oh, there was this time that didn’t go right, but it got better. You always have to be swinging for the fence.”

Keeping your ego in check is also important. Most stories about high-flying entrepreneurs that go from rags to riches gloss over the dark times. Understanding that success doesn’t happen overnight will light a fire under your belt. “You go to 100 meetings and you get three term sheets. That means you’re gonna hear 97 nos and every time you hear a no you have to keep going.”

The art of bouncing back

Jennifer Couldrey works with startups every day.

As the executive director of the Upside Foundation — an organization that inspires high growth companies to give back by donating equity to charity — she gets a first-hand look at some of Canada’s best up-and-coming startups. Sometimes they succeed and end up giving back, but other times they fail.

When it comes to failure she believes investing in personal relationships can act as a great way for entrepreneurs to take their business to new heights. While putting in hard work is important, personal connections can help a business get back on track when it loses its way.

She knows first-hand how real-world connections can help an initiative succeed. A social media campaign she created for “Giving Tuesday” in the organization’s early years failed to take off because few people knew how to engage with the foundation.

“It absolutely did not work the way I wanted it to, but what it taught me is that you can’t depend on the internet to make things happen,” she says. “Especially in the early days, everything is about relationships. It’s about having those connections. Most people who contributed to the campaign did so because I asked them to,” she explains.

Finding people who can help

Couldrey’s experiences are a good lesson for entrepreneurs who can’t seem to find traction for their company’s products or service. “You can move online, use social media and automate things once you have a core set of established relationships, and then use tools like Twitter to maintain and enhance relationships. Until you have those initial in-person relationships you can’t think people are going rally behind you.”

Meanwhile, personal relationships also help ward of self-doubt. In a world where mental health is rarely discussed one-on-one relationships help entrepreneurs ensure that professional failures don’t encroach on their personal life. An entrepreneur’s self-worth should not be dictated by their company’s failings.

“A lot of people wrap up their identity in the success off their business. You have to delineate so that if your company fails you don’t feel like a failure as a person. You have other areas of your life where you feel valuable, like in your personal relationships, so you can keep going when things go wrong.”

Canada’s tech entrepreneurs cashing in on cannabis

Alex Blumenstein, 28, never thought he’d one day end up working in the marijuana business. In his previous job, the entrepreneur worked as a consultant dealing with corporate clients like airline companies and land developers. It was a world he was familiar with and a job he was successful at.

“I was good at it, but it was very unrewarding work. Even when you did win [for your client] it was only incremental gains,” he explains.

But, all that changed in 2017.

Earlier this year he launched a new business inspired by consulting work he did for a local marijuana company. While there are ample opportunities for big firms, support for small-scale entrepreneurs was non-existent, he found. So, he decided to take a chance and build something that did.

Now the twentysomething is the co-founder of Leaf Forward the first cannabis business accelerator in Canada. It helps founders turn their their weed-related ideas into reality.

.@ONgov and Canada are preparing to legalize cannabis by summer 2018.

Since launching in January, Leaf Forward has mentored a handful of startups. It’s also hosted meetups with some of the industry’s’ biggest players and partnered with leading cannabis organizations across the province.

“There’s a lot of opportunities for startups in the marijuana industry outside of just cultivation. Currently the industry is driven by licensed producers [government sanctioned weed cultivators] but it’s the technology, ancillaries and value-added products that will drive real rewards,” he says.

The rise of the weedpreneur

 
Entrepreneurs aren’t waiting around to find new ways to invest in what is expected to be one of North America’s fastest-growing industries. Many are already cashing in right now.

Big deals south of the border include Casa Verde Capital (known for its partnership with Snoop Dog). Since launching it’s raised a whopping $10 million. High-profile investments include tracking platform Leaflink and point-of-sale company Greenbits. Another well-known Silicon Valley VC firm called Benchmark recently invested $8.1 million in Hound Labs. A startup that produces breathalyzers that trace THC (the component that produces a euphoric high) in users.

Legal cannabis sales in Canada are expected to grow to $22.6 billion by 2021 and surpass medical use. cc @BDSAnalytics

Meanwhile, in Canada, we’re starting to finally see that same momentum. Earlier this week, Constellation brands (the maker of Corona beer and other alcoholic drinks) purchased a 10 per cent stake in weed company Canopy Growth for $245 million. In the last year alone investors have dumped approximately $700 million into Canadian cannabis companies, according to wealth management firm Canacoord Genuity.

Homegrown talent

 
One of Canada’s most recognizable homegrown success stories is Ample Organics. The Toronto-based startup produces seed-to-sale software that manages plant cultivation, shipping, and purchases. Like most of today’s weedprepreneurs, the company’s founder,  John Prentice, earned his tech stripes outside of the weed business.

As Canada’s novice marijuana industry matures new opportunities will be born out of tech innovation created by forward-thinking entrepreneurs. Enter: Prentice who launched a successful business based on this ingenious thinking.

“The cannabis industry will be gigantic… because of the strict regulations and the unique ways in which the cannabis industry operates, adaptation and modification need to happen. When that’s impossible, new products need to be created,” he says. “It’s a brave new world out there, and we’re all looking for innovative technologies to help maximize the opportunity.”

The future of Canadian ‘cannabiz’

 
For techpreneurs looking to enter the space, the potential rewards are big. Everything from plant growing systems to weed patches and marijuana-infused edibles will require technical expertise.

Jordan Rodness, the marketing manager for Emblem, sees a new world open up for tech startups interested in creating ancillary products that help businesses like his. In fact, his company already works with a local tech startup called Strainprint that helps users track intake. The licensed producer cultivates marijuana out of its 24,000 square feet facility in Paris, Ontario.

“As a company, we’re very much trying to get ahead of the trends. We’re looking for anybody who’s an innovator and has a really great idea that they want to bring to the market or that’s going to be really useful in the industry.”

Michael Garbuz agrees. The lawyer — who works at CannaRoyalty in a corporate strategy role and mentors early-stage companies through Leaf Forward  — understands how competitive the industry is.

He sees innovation and technology playing an important role in the developing cannabis industry. Especially, since Canada’s product market is less developed than the U.S, which saw a handful of states legalize cannabis in some form as early as 1996. At home technology will be key to the country’s growing cannabis industry and maintaining its edge in the international market.

“A lot of individuals nowadays are working on really advanced technologies to improve and optimize the formulation and delivery of cannabis. We are seeing new technologies that control how quickly you feel the effects, the consistency of effects, and the entire consumer experience. Tech innovation and ongoing R&D are ingredients that the industry needs to continue to mature and grow.”

Secrets of a tech reporter: How to get your company media exposure

It’s no secret that entrepreneurs who can get their company mentioned in popular publications often benefit from the exposure. For journalists tasked with writing about the latest in tech, finding companies to feature can be hard. Especially for busy journalists like Jessica Galang.

Everyday entrepreneurs bombard the BetaKit news editor with emails about their new “revolutionary” products, company or partnerships. It’s all in a bid to get her to write about their company for her publication. That means she’s forced to sift through dozens of email pitches almost hourly. It can exhausting  since she’s  charged with staying up-to-date with Canada’s tech ecosystem and also writing about it.  

“I’m basically responsible for most of the [BetaKit] editorial planning, I look at what’s happening every day in the tech ecosystem and I sort of evaluate what’s priority and what’s not priority,” she explains. “Pretty much my job is to keep on top of the Canadian ecosystem and to decide what news we’re going to cover and how.”

In this one-on-one Galang shares what she looks for in a startup and how entrepreneurs can get journalists, like herself, to pay attention to them.

This interview has been edited for clarity.

Q: How do you evaluate what company or product is “newsworthy”?

 
Jessica Galang (JG): I mostly look at the sort of traction they’ve had so far. For example, I look at the number of customers they have, their target market or if they’ve reached a unique milestone. Sometimes even if they’ve partnered with a big enterprise that helps make them (or their product) stand out.

Q: What’s the best way to pitch a story?

 
JG: I think, email is usually the safest way, because journalists are expecting pitches in their inbox. For me, personally, DMs [direct messages through Twitter] are totally fine as well. I find my DMs are also less crowded, so I don’t mind and it’s easier to read through messages.

Q: What should entrepreneurs do before pitching a journalist?

 
JG: I think sometimes entrepreneurs make the mistake of just sending an email with a link to their website and saying ‘hey, we just launched this [and] hope that you cover us. Please follow up if you want more information.’

But I don’t have time to follow up with every single person to get more information about their company.

When pitching journalists entrepreneurs should be prepared. They should look at press releases as examples of what a pitch could possible look like. They should be prepared to explain why their product is valuable, what market they’re targeting. And, perhaps why their product is different from any other one that’s launched in that sector as well. They need to be able to answer why I would cover them versus a competitor. Why I would spend time writing an article about them now instead of six months from now.

Q: What are some helpful additions entrepreneurs can include in their pitches that will set them apart?

 
JG: Media kits are always helpful and having pictures if a startup is announcing something specific — like funding or a partnership — is great.

If it’s just a simple pitch then I suggest writing three paragraphs explaining what their news is about. If I like their story I can follow up later. The biggest thing is that they need to be explicit about what news or product they think I should be interested in.

Q: Should startups hire a PR agency to help generate some media buzz or just do it themselves?

 
JG: That’s a little tough to answer, especially if you’re an early stage startup hoping to get coverage. It can be tough for some to afford PR services. If they can’t there’s so many free resources out there that can help them do it on their own. You don’t need to hire PR, but it can help.

If you’re in an early stage startup I think just learning best practices can go a long way. I’ve worked with a lot of companies that don’t have in-house PR or a PR agency, but they know the BetaKit brand. They know what we cover and send us really targeted pitches that work.

Q: Is it bad etiquette to reach out to more than one reporter at the same time?

 
JG: I accept that sometimes [entrepreneurs] are going to reach out to other reporters. If it’s a huge announcement then I understand why they would reach out to other publications for embargos or big news. I think it’s key that you make sure you’re really transparent with everyone.

It’s my expectation that other publications are probably going to cover this news if it’s big. But when you’re shady and you pitch something to a journalist and you give them one time and then you give another journalist another time, that’s when it’s really bad.

I think it’s also bad etiquette when someone is pitching me, but they forget to change the name of the publication in the email. So, it would say ‘Hi Jessica, I think this would be a great pitch for the Financial Post’ and I’m left thinking, like, oh, thanks, that’s really nice do you even want us to cover your company.

Looking for more about how to get your startup media ready? Check out our previous post about public relation and communication with Erin Richards.

What the Equifax hack can teach startups about cybersecurity

On Sept. 5 credit reporting service Equifax revealed that criminals had hacked and accessed personal data for approximately 143 million of its customers.

The attack may not be one of the biggest breaches in history but could be one of the most dangerous. The hack exposed highly sensitive personal information — social insurance numbers, credit card details, and addresses — for anyone that used its services from May to July 2017. The hack also affected 100,000 Canadians and included  “limited personal information” for customers in the U.K. and Argentina.

Aside from the much-publicized toll the attack took on the company’s reputation, the exposure also hit its bottom line. Equifax stock dropped eight per cent almost overnight. Meanwhile, its downward stock trajectory isn’t likely to stop anytime soon considering three company executives are being investigated for insider trading.

As of right now, things don’t look great for the 118-year-old company. However, it’s not all bad. The incident serves as a reminder of what not to do when it comes to cybersecurity.

“It’s all part of running an online business,” says Shane Murphy – cofounder of Law Scout, a Toronto-based law startup — about potential breaches. “You can’t always avoid hacks so you need a strong privacy policy within your company.”

There are no shortcuts when it comes to cybersecurity plans. However there are some tricks companies can implement to limit exposure, he explains. Here are a few things entrepreneurs can start doing today.  

Create an all-encompassing privacy policy

It’s in every business’ best interest to have their own cyber policy. It should include: What to do immediately after the information is accessed, 2) How to share that information with the public and 3) Evaluate its legal options.

Being upfront with customers about what could happen after a hack can help mitigate future lawsuits.

“Privacy policies should always anticipate a hack. They’re the best defense and show that [a company] has taken serious and reasonable precautions to prevent a breach,” Murphy explains. “It should be on your website and disclose what type of information you’re collecting, how you’re using it and then a step beyond that how you’re storing that and how users will be notified in the event of a breach.”

Train your employees to recognize fraud

There’s no technological replacement or solution that trumps common sense. Phishing scams try to trick employees into sharing sensitive information. However, they can be stopped with the right type of employee training.

Phishing attacks work by installing malicious software or disguising an attacker’s identity so it mimics a trusted source. Both large institutions and small businesses have fallen victim to these sophisticated (and sometimes not-so sophisticated) schemes over the years.

One easy way to avoid them is to provide employees with the skills they need to spot fraudulent communication in their tracks. Some tips include not opening emails from unknown sources and using only secure websites that feature ‘https’ or display a ‘padlock’ icon. Last, but not least, avoid digital communication that features time-sensitive or urgent requests for wire transfers.

Better understand the services you’re using

Providing the best cyber security means continuously updating what partner companies and services you rely on. Vetting the providers your company uses is paramount since nowadays breaches come from all sources.

For instance, many companies rely on cloud computing services to store complex data. These services are usually provided through third-parties that follow their own security protocols.

Startups should always analyze their partners’ privacy policies. If necessary press for better security protocols, especially if your businesses deals with sensitive information. “If your business is going to be collecting that type of sensitive  information you’re going to be held to a higher standard,” says Murphy.

The 4 best entrepreneurial comeback stories of all time

There’s nothing people love more than a redemption story and the tech world is full of ‘em.

It shouldn’t come as a surprise that some of the best business stories involve entrepreneurs who persevered against all odds. While not an easy thing to do, it can be done with the right product, timing or, most importantly, people by your side.  

If you’re looking for a little motivation after a hard day at work or inspiration to fuel your next big idea look no further. From an entrepreneur who spent a decade following his dreams to a founder who was unceremoniously ousted from the startup he co-founded, there’s something that everyone can relate to in our list.

Jame Dyson

 
The straight-talking British billionaire may have revolutionized how people clean their homes, but his success didn’t come easy. It took the entrepreneur 15 years to perfect his bagless vacuum cleaner and turn his idea into a reality.

During the time he spent working on his invention, he mostly relied on his wife’s income to make ends meet. He also made a whopping 5,126 prototypes before he was able to create his company’s trademark device, the DC40. While some of his peers mocked his early attempts, Dyson’s commitment never wavered and ultimately paid off.

After his vacuum became a hit in Japan he turned that momentum (and cash influx) into a worldwide success. Since then, his company, Dyson Ltd, has brought in annual revenues of $4.5 billion and now sells a wide range of home appliances around the world.

Lesson: There are no shortcuts when it comes to winning. Find dependable, trustworthy people who believe in you and can help support your vision.

Bill Gates

 
Journalists might now refer to Bill Gates as the ‘Father of the Internet’ but before he found fame, money and success he was just a regular, ol’ entrepreneur struggling to pay his bills.

Gates and his partner, Paul Allen, launched their first software company called Traf-O-Data in the 1970s. It analyzed traffic data and provided analytical reports to local governments for a fee.

The duo’s startup would become obsolete in 1989 when the state of Washington would provide the same service for free. It wasn’t a total loss, though. The entrepreneurs took all the business know-how they learned and software created and apply it to their next company, which they initially called ‘Micro-Soft’.

Lesson:  Take all the lessons learned from past failures to use to make future businesses better.

Arianna Huffington

 
The Huffington Post is one of the most-read online publications around the world and operates international editions in India, Greece, the U.K. and South Africa.

Before its creator, Arianna Huffington, turned the online magazine into the success it is now she faced off against critics who derided its unpaid blogging model and dismissed its editorial content.

After launching in 2005, it took years before it turned a profit and generated enough buzz to sustain itself. But Huffington didn’t let that deter her (or her team). All their hard work eventually paid off, because in 2011 AOL purchased the website (and its related verticals) for $315 million.

Lesson: Focus on your goals and ignore the competition. Success is dependent on finding an untapped resource or avenue and exploiting it.

Steve Jobs

 
There’s no greater comeback hero than Steve Jobs. The entrepreneurial genius is just as well known for his failures as he is for his successes.

Early in his career, he was ousted from Apple, the company he helped launch. Later he would return and transform it into one of America’s most influential tech companies. Instead of giving up after being dumped by his company in 1985, he launched a competing startup called NeXt, with a few fellow employees.

Not long afterward, a floundering Apple would go on to acquire his startup and reinstall the notoriously ill-tempered entrepreneur as CEO. Later Jobs would shake up the industry by introducing game-changing technologies like the Macintosh computer, iPod and iPhone.

The rest is, as they say, history.

Lesson: Don’t let professional or personal setbacks deter you from pursuing your entrepreneurial dream. Learn from your mistakes and use them to grow.

The best tech conferences left in 2017

Tech conferences are more popular now than ever before. From Toronto’s Elevate to TechCrunch in San Francisco there are a bevy of industry-focused events entrepreneurs and business owners can choose from nowadays.

If you’re interested in diversifying your personal network, learning new skills or trying out the latest gadgets on the market now is the time to do it. Here’s your guide to the top tech conferences in North America

So many tech conferences, so little time:


Elevate Toronto


Dates: Sept. 12 – Sept. 14, 2017
Location: Toronto
Ticket price: $647 CAD

This three-day conference in the heart of Toronto is designed with techpreneurs in mind. Founders from Canada’s top companies will be on site doling out advice, guidance and tips to those lucky enough to score a ticket.

Early-stage startups can rub elbows with talend developers looking for work and pitch the city’s lawmakers and top on their home turf. Investors like Michelle Scarborough (from BDC) and Bruce Croxon (from Round 13 Capital) will dole out advice. Those willing to splurge on conferences can take a private tour of Toronto’s most innovative tech companies.

Bonus: This year festival organizers will provide 40 free passes to minority and low-income conference goers. To apply make sure to check out their website starting August 25, 2017.

TechCrunch Disrupt SF


Dates: Sept. 18 – Sept. 20, 2017
Location: San Francisco
Ticket price: Starting at $1,995 USD

If you’re a Canadian entrepreneur looking to meet new clients, drum up some media publicity south of the border or just learn new industry tricks from some of the best and brightest influencers then TechCrunch Disrupt is for you.

Entrepreneurs can take part money-making startup competitions, attend conference showcases presented by well-known investors or attend one of the many networking and skill-based sessions. Tickets for this showcase aren’t cheap – early-bird tickets start at $1,900 US, (link) which doesn’t include airfare, accommodation or food – but for companies looking to build traction in the U.S. it can be worth the cost.

Money2020


Dates: Oct. 22 – Oct. 25, 2017
Location: Las Vegas
Ticket price: $2,995 USD (discounts available for eligible startups)

If you’ve ever wanted to learn more about the fast-paced world of fintech then Money2020 — billed as “the world’s largest payments and financial services innovation event” – is the place to go. Last year’s event included attendees from over 85 countries and this year features hour-long sessions on everything from data privacy to new-age mobile banking in developing countries and blockchain technology.

A range of skill-testing startup competitions and hackathons are also on offer for developers hoping to showcase their skills or find new employment opportunities. Regular tickets retail for $2,995 but discounts of up to 50 per cent are available for select retailers and startups (link).

TEDxToronto


Dates: Oct. 27, 2017
Location: Toronto
Ticket price: $500 – $1,000 CAD

A good conference is about more than just networking and tech demonstrations. A great event will push participants to be better and inspires attendees to try new things.

While TEDxToronto isn’t exclusively focused on technology its seminars, presented by local influencers, tackle subjects and ideas that impact every facet of life and often touch on technology in some form. These profoundly inspiring talks deal with everything from company leadership and career motivation.

This year’s speakers include Paul Rowan (co-founder of home design store Umbra), Gimmy Chu (co-founder of green technology startup Nano Leaf) and Peter Sloly (partner at Deloitte Canada). Torontonians who can’t afford the $1,000 price tag can also watch highlights online in the weeks following the event.

Mesh Marketing


Dates: Nov. 6, 2017
Location: Toronto
Ticket price: $299 CAD

If you’re a professional who deals with both marketing and technology, then Mesh Marketing might be the most useful for your long-term goals.

This international event deep dives into operational issues and discusses strategy-focused topics to help attendees better understand marketing technologies. Attendees also take part in the invite-only networking events that take place after the conferences and get a front-row seat to other related marketing events the company throws throughout the year.

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