3Nov
What to Include in Your In-Person Slide Deck

how-to-create-an-in-person-slide-deck

Start-ups don’t fund themselves. The first step is raising money from investors requires a great pitch and an awesome slide deck. Why is it important to have a bank of slide decks for different situations? Because every contact point with an investor serves a different purpose, a slide deck appropriate for each type of interaction is necessary. For instance, because an e-mail slide deck usually serves to book an in-person meeting with an investor, you are better off using basic information for it (just enough to garner interest).

The in-person slide deck, on the other hand, is of huge importance because you will need to close people with it. It also will serve no purpose if not executed properly. For this reason, it will have to be more elaborate and detailed. Here we explain to you what you should be putting in an in-person deck. At this stage, an investor has agreed to listen to you pitch. The following tips and suggestions will allow you to use your time wisely.

Follow a Structure that complies with your time constrains. Given that you have limited time to present and captivate investors, presenting with passion, simplicity and power is very important. We suggest that you organize your pitch deck in the following order as a general guideline.

1: Vision / Elevator Pitch

2: Traction / Validation

3: Market Opportunity

4: The Problem

5: Product / Service (Solution)

6: Revenue Model

7: Marketing & Growth Strategy

8: Team

9: Financials

10: Competition

11: Investment ‘Ask’

11+: Appendices***

You may have followed a slightly different structure for your deck and that’s okay. Just make sure you are going over the critical information that focuses on a lucrative market gap that your company will fill. Most of your time should be spent on The Problem, Product, Marketing and Growth Strategy, and Financials.

If ever you want to add additional slides and are not sure of their relevance put them in the appendices. Remember to use relevant hyperlinks directing you to the intended appendix in order to avoid rummaging through slides in front of investors.

Brand your slides

Don’t use any features that will make your brand seem generic or amateur. Clip art, WordArt Slide transitions and too much animation will tend to lower the quality of your presentation. Keep note that sometimes less is more. Use your company colors, embed your logo onto all slides, don’t use a pre-made PowerPoint template, and don’t be afraid of standard-looking fonts. Even if you are not a graphic designer or PowerPoint whiz, making a professionally branded slide-deck may be time consuming, but it is far from complicated.

Create a Narrative

Having great slides without great execution will get you nowhere. Creating a narrative or storyline will help you captivate investors from the very beginning. Investors have short attention spans, and the last thing you want is for them to lose interest just a few minutes in. You want to find a narrative that will elicit an emotional response from your audience even if the subject is somewhat dry.

You should understand how to engage the listener and couple your narrative with the right PowerPoint visuals. Some of the most effective presentations use the same storytelling techniques. You have to remind people of the status quo and reveal your path to the better way.

Different investors may have different styles, but if you are able to efficiently convince them of a profitable business opportunity you have done your job. Show them why the market opportunity is worth their time and money. In order to succeed at this you must rehearse, rehearse, rehearse. Even if you don’t get the investment you hoped for, but managed to wow investors with your presentation, you will have created a lasting impression which will work in your favor next time around.

23Sep
A PME Success Story: Catching up with Revols

Daniel Blumer and Navi Cohen, founders of Revols, have reached and surpassed great milestones since we first met them in 2014. What started off as an idea to develop premium quick custom-fit wireless earphones is now approaching reality with shipping scheduled for early 2017. Earlier this year, in just two months their Kickstarter campaign raised $2.5 million (U.S.), breaking records and becoming Canada’s most funded project in Kickstarter history. We had the chance to catch up with the Revols CEO, Daniel Blumer, to talk about it his journey and what lies ahead for the company. He offers some interesting insight and some lessons learnt in retrospect.

Q: What helped you identify a gap in the market for your product when you founded your company with Navi?

A: Navi approached me with the idea of custom fit earphones and the whole concept was that custom fit provides this comfort level that is just so much better than a regular pair of earphones. That immediately struck a chord with me because myself, my wife, so many people, struggle with their earphones and are not comfortable. To me, that was the immediate compelling reason as to why we should go into this. Further justification came through doing the due diligence, doing the market research, seeing why people replace their earphones and why they buy premium earphones.

Q: You’ve had tremendous success with your Kickstarter campaign. It was the most funded Canadian project in Kickstarter history! Given that so many crowdfunding campaigns fail, what was your secret?

A: We spent around 3 months doing diligence, and learning about Kickstarter. We understood it. Some people think that you can just create a video and put it on Kickstarter. There is so much more to it. One of the biggest challenges which we saw right away was credibility. It’s not easy to be credible and show that what you are offering isn’t BS or a lie. You want to show that what you have is real, that it works, and that it can be trusted. For us one of the biggest things we did to succeed is that we hired a local PR firm and before the campaign started we went out to every single media outlet that would talk to us in Toronto, Montreal, New York, Philadelphia, San Francisco, and did the process on them. They then wrote reviews on us. If they liked us they would write good reviews which would then translate to trust and credibility and more people would back it. There was a direct correlation between when the media would release their review and how much we would receive on the Kickstarter.

Q: This success, while great, must come with tones of pressure. How do you feel about this?

A: More pressure than I’ve ever had in my life because to me the part that I hate the most is being in debt to someone else. I don’t have debt I don’t want to have debt. When you think about it you’re happy and so excited about the success of your Kickstarter and having all this money to make your product. But I’m so anxious to just deliver to all our backers. We have 12,000 people that supported us. A lot of them are Montrealers, friends, family, and people that have an interest in helping another Montreal company. Until we deliver there’s this pit in my stomach.

Q: What stage of development are you at presently?

A: We’re planning on delivering in November and December. We’re getting there.

Q: You are a Montreal-based company, what is it like having a hardware company here?

A: Hardware is not easy to build here. The first year and a half we were only in Montreal. It was difficult in terms of cost, and in terms of the time it took to make all product versions. Something that has helped us tremendously is our relationship with the hardware accelerator, Hax. We moved to China last summer for 4 months and now we have people on the ground in China overseeing production. Now we can iterate faster at a lower cost in China which is a great advantage.

Q: What are some pros of being a Montreal-based company?

A: Montreal’s start-up community is growing a lot. You see it. You see it by the events and by the different companies coming out of Montreal. It’s impressive. There are many advantages of being in Montreal. Tax credit-wise, when you’re creating a company with a lot of R&D requirements, the Canadian and Quebec government are phenomenal at helping fund projects. You don’t get that in the States.

Q: Now that Revols is doing well and growing, in retrospect, can you think of lessons learnt or things you wish you would have done differently?

A: To me, one of the biggest learnings is with something we’ve experienced over the past few months when trying to do everything in house. We wanted to have control over all our projects. Looking back, it’s okay to outsource to a third party who’s more competent in a particular project. It would have costed more but it would have saved us months. It would have been worth it, so that’s what we’re starting to do now. If it’s not your core competency it is okay to outsource to a certain extent as long as you have a certain level of control.

Q: How has PME helped you in your journey?

A: PME has genuinely helped us because they came in relatively at the beginning when we didn’t have a lot of money. There are 2 components to PME. There’s the money itself. The money allows us to develop and grow without having to look elsewhere. Our valuation at the beginning was smaller and we would have had to give up a lot more of the company then. So, that money was sufficient in allowing us to go to the point where we now have a nicer valuation, we’re going to get more money and give up less equity. That is because of what PME helped us with. On the other side which is equally, if not more important, is the mentorship side. The ability to have access to mentors who are tremendously experienced in different fields and the comfort in knowing you can go to them is phenomenal. A lot of people don’t have that opportunity.

Q: 10 years from now where do you see Revols?

A: 10 years from now Revols will be a recognized brand name in the premium retail space, but not just selling earphones. Selling many different ear-related products with a custom fit solution.

Revols has come a long way in the past 2 years. We can’t wait to see what is in store for Daniel and Navi moving forward!

Pro-Montreal Entrepreneurs (PME) is a social business model created to help young entrepreneurs build and strengthen their business roots in Montreal. PME offers business plan feedback, a network of mentors, and access to sources of funding. Entrepreneurs between the ages of 18-40 can also get access to capital of up to $50,000. Don’t hesitate to contact us for any questions that you may have.

31Aug
Comment créer un slide deck pour un envoi courriel

La communication par courriel et l’étiquette s’appliquant à l’usage de cette plateforme font partie intégrante de la pratique concrète des affaires. En tant qu’entrepreneur, vous devrez préparer et envoyer de nombreux slide decks par courriel avant de rencontrer tout investisseur en personne. Les informations présentées dans ces nombreuses diapositives peuvent vous sembler si redondantes que vous songez à créer un slide-deck unique dont vous pourrez vous servir pour toutes les occasions. Ne le faites pas! Bien sûr, il vous faut plus de temps pour personnaliser vos slide decks, mais n’oubliez pas que vos investisseurs potentiels ne veulent que l’information qui est pertinente pour eux, qui correspond à leurs besoins et intérêts à un moment donné. Quelques règles de base s’appliquent lorsqu’on envoie un slide deck par courriel pour susciter l’intérêt d’un investisseur. Soyez concis, concentrez-vous sur l’essentiel et allez droit au but.

Voici la structure à considérer pour un jeu de diapositive concis, centré sur l’essentiel et qui va droit au but :

Identification du problème

Dès le départ, l’investisseur doit connaître le problème. La façon dont vous le décrivez est des plus importantes. Vous devez être précis, clair et facilement compréhensible. Cette section doit mettre en place les dynamiques qui introduiront votre produit ou service comme solution.

Exemple: Les personnes souffrant d’embonpoint — 66,7 % de la population des États-Unis — refusent de monter sur la balance parce que voir leur poids réel leur parait trop déprimant. Il est donc impossible d’imaginer comment ces personnes pourraient arriver à perdre de 9 à 20 kg (quantité moyenne qu’un Américain souffrant d’embonpoint cherche à perdre). Le problème c’est qu’il est pratiquement impossible de perdre du poids volontairement sans les évaluations de la balance.

2. Solution — votre produit

Ne tentez pas de compliquer les choses en expliquant toutes les fonctionnalités de votre produit. Réservez cet aspect au slide deck à présenter lors de la réunion en personne. Pour les diapositives qui accompagnent un courriel, il est préférable de mettre l’accent sur l’expérience de l’utilisateur.

Exemple: SOMA indexe le poids de départ de l’utilisateur à zéro. Ensuite, l’appareil enregistre tout simplement les différences ascendantes et descendantes de poids sur une base quotidienne. L’utilisation quotidienne de SOMA par rapport aux balances régulières est de 87 % contre 14 %.

3. Équipe

Si vous avez plus de cinq employés, vous ne devez pas tous les présenter. Il suffit de mentionner les personnes qui gèrent les opérations. Poste, domaine d’expertise, réalisations passées, alma mater (le cas échéant, ou si pertinent) sont tout ce qui est nécessaire.

4. Créer de l’intérêt et présenter des données sur le produit

Même si vous n’en êtes qu’aux premiers stades de développement de votre produit cette section devrait être incluse. Votre investisseur potentiel ne s’attend pas à ce que la performance de votre entreprise soit au même niveau que celle d’une entreprise prospère, vous n’avez donc pas à vous soucier de cet aspect. L’objectif de cette section est de montrer que les gens veulent votre produit. Vous devez vous concentrer sur ce qui concerne les canaux d’acquisition de clients qui ont été testés, le coût d’acquisition de nouveaux clients, le taux de rétention, l’engagement des clients, etc. Si vous ne disposez que de peu d’informations, vous pouvez fournir des données économiques concernant ce que vous offrez (combien de clients vous avez, combien d’inscriptions par trimestre, le coût des marchandises vendues, les fournisseurs, etc.).

5. Volume du marché

Le marché dans lequel vous entrez en compétition représente un des éléments les plus importants pour influencer la décision d’un investisseur. Que vous cherchiez à vous insérer comme concurrent sur un marché important ou dans un créneau peut donner aux investisseurs une bonne idée du retour auquel ils peuvent s’attendre pour leur investissement. La taille du marché, la taille du marché cible, et le potentiel de croissance sont des éléments essentiels.

6. Concurrence

Même si vous prétendez être le premier dans votre secteur, vous aurez possiblement de la concurrence! Et même si personne ne vend le même produit que le vôtre, mentionnez des substituts potentiels ou la concurrence indirecte.

7. Coordonnées

Il va sans dire que les noms, numéros de téléphone — incluant les numéros de postes ainsi que les courriels de tous les principaux décideurs de l’entreprise doivent être inclus.

Ce slide deck ne devrait pas demander plus de deux minutes de lecture à l’investisseur! Sur le plan esthétique, assurez-vous que les couleurs sont bien choisies et subtiles. Rappelez-vous que le but de ce courriel est seulement d’attirer l’attention de l’investisseur et d’obtenir une réunion en personne. Vous ne vous attentez pas à ce qu’ils décident d’investir immédiatement, il s’agit ici de se concentrer sur les faits qui attireront les investisseurs et d’élaborer. Cela vient plus tard!

31Aug
How to Create an E-Mail Slide Deck for an Investor

E-Mail communication and etiquette is an integral part of business practicality. As an entrepreneur you will have many slide decks to prepare and send by e-mail prior to an in-person meeting with investors. Though you may find the information in your numerous slide decks redundant and contemplate one deck for all occasions, don’t. While it may take more time to customize your slide decks, keep in mind that your potential investors will want information catered to their needs and interests at a given time. When sending a slide deck by e-mail to spark an investor’s interest, a few rules of thumb apply. Be concise, skimmable and to-the-point.

Here is how you should consider structuring your concise, skimmable and to the point slide deck:

Problem Identification

At the very beginning the investor should know what the problem is. The way you articulate your problem is key. It should be specific, clear and easily comprehensible. This section should be building momentum for the introduction of your product or service as the solution.

Ex: Overweight people-66.7% of the US population refuse to step on the scale because their actual weight is too depressing, making it impossible to conceive how they can lose 20-40 pounds (the average an overweight American seeks to shed.) The issue is that voluntary weight loss without the feedback of a scale is essentially impossible.

Solution/Your Product

Don’t attempt to complicate things by explaining all of your product’s features. Leave that to the slide deck for the in-person meeting. For an e-mail deck, focusing on the user experience is your best bet.

Ex: SOMA indexes the user’s starting weight at zero. It then simply records upward and downward movements of weight on a daily basis. Daily use of SOMA vs. regular scales is 87% vs. 14%.

Team

If you have over five employees you do not have to introduce all of them. It is only important to mention the people heading the operations. Position, field of expertise, past accomplishments, alma mater (if applicable or useful) are what is necessary.

Traction and Unit Economics

Even if you are in the early stages of your product development this section should be included. Your potential investor will not expect your business’s performance to be at par with that of a successful business, so there is not much to worry about in that aspect. What this section should do is show that people want your product. Areas you must address should be with regards to: the tested customer acquisition channels, the cost to acquire new customers, retention rate, customer engagement, etc. If you do not have much information you can provide some of your unit economics (How many customers you have, how much sign up per quarter, cost of goods sold, supplier, etc.)

Market Size

The market you are competing in is one of the greatest influencers of an investor’s decision. Whether or not you are competing in a large or niche market can give the investor an idea of how much return they can expect from their investment. Market size, size of target market, and growth potential are the essentials.

Competition

Even if you claim to be a first mover, you still have competition! Even if no one sells the same product mention potential substitutes or your indirect competition.

Contact information

This is a given. Name, phone number with extension, and email, of all key business decision makers is to be included.

Your e-mail slide deck should not take more than two minutes for the investor to read! Aesthetically, ensure that your chosen colors are well selected and subtle. Remember that this is only to get an investor’s attention and to book an in-person meeting, not for them to invest. The key here is to focus on the facts that will attract investors to you, don’t worry too much about elaboration. That comes later!

24Aug
How LOJIQ Can Help You

How L'OJIQ Can Help You Montreal is a city with a great entrepreneurial climate, and provides many resources for start-up growth. Many of these opportunities present themselves in the form of contests, prizes, loans or government grants. Resources are also available through organizations set up especially to assist young entrepreneurs, and lead them to success. Les Offices Jeunesse Internationaux du Quebec, or LOJIQ, is an organization for Quebec residents that provides opportunities for start-ups to build international business ties. Founded in 2007, LOJIQ aims to enhance the professional networks and enrich the entrepreneurial experiences of Quebec youth on an international level. They offer internships, volunteer opportunities, and conferences in Europe, Oceania, America, Asia, and Africa. Of all the projects they offer, most fall into one of three categories:

1) Entrepreneurship Training
LOJIQ offers international seminars for students and aspiring entrepreneurs who are not quite sure how to start a business. These trips are often organized as group projects aimed to teach students the basics of entrepreneurship and inspire them to launch a start-up. These programs include lectures by successful professionals in the world of entrepreneurship. In order to participate candidates are not required to have an operating start-up, but must demonstrate passion and interest for entrepreneurship during the application process.

2) Entrepreneur Resources
Established entrepreneurs can also take advantage of a multitude of programs offered by LOJIQ. Programs offered include partnership opportunities, lectures and events, and international development. Although small and emerging start-ups are prioritized, all entrepreneurs are welcome to apply. LOJIQ programs are mostly focused on growing start-ups on an international scale, and helping you build worldwide business connections. If you intend to set up shop in different countries and make important connections in the business world, LOJIQ should definitely be considered.

3) Mentorship
Finally, LOJIQ offers international mentors to entrepreneurs to allow them to grow their start-up on an international scale. Entrepreneurs are matched with mentors based on their area of interest as well as their preferred location. These mentors are crucial to start-ups who need advice on how to develop their start-up in other countries, and how to reach new markets.

LOJIQ is heavily centered on international expansion for entrepreneurs. Furthermore, it offers grants and bursaries to new and aspiring entrepreneurs that range from 1000$ to 2000$. Most of the programs that this organization offers require international travel, but you can apply for funding to pay for all of your travel expenses.

If you want to attend an event that the organization does not currently offer, you can pitch your own business travel idea, be it to a conference or an event, and LOJIQ may be able to sponsor you. For entrepreneurs with international ambition, LOJIQ is definitely worth checking out. Note that program information is only available in French but you can speak to someone at the organization that could help you in English.

27Jul
How Businesses Can Use Snapchat to their Advantage

How Businesses Can use Snapchat to their Advantage If a prize could be awarded to social media of the year, it would without a doubt go to Snapchat. Just 2 years ago Snapchat was only used by a few avid users. Last year, though benefiting from a quickly increasing user base, it was viewed as a platform for people and not businesses. Snapchat today is not what it was a year ago, let alone 6 months ago. Just download the app and have a look. Acclaimed magazine publications, major televised events, and diverse businesses have found comfort in the social network. If your current marketing plan does not include Snapchat, you should seriously reconsider.

Snapchat is based on a very simple concept. You send a picture or a video to your contacts, they watch, and it disappears forever. Given that Snapchat’s primary user base is people between the ages of 13 to 25, and the fact that 77% of North American college students have Snapchat, this platform gives you access to a great pool of potential customers. As of May of 2016, Snapchat users spend between 25 to 30 minutes a day on Snapchat. Considering that most Snaps last only a few seconds, this is a tremendous amount of time to be spending on a social platform. So as you can see, the question is not whether or not you should be on Snapchat. The question is how you can operate your business’s Snapchat account in order to yield the best outcome. How do I get users to follow me? How do I get them to my company’s website? How often should I post a Snapchat story? These are just a few questions that can be running through your mind at this moment. Lucky for you we’re here to give you some input.

When looking at all the start-ups that have successfully promoted themselves and attracted new users on Snapchat, there is one common theme. When creating content, they do not focus on sales. They focus on storytelling and having people get to know their brands. Very rarely will you see a successful brand promoting their prices, specials, or discounts on Snapchat. The last thing millennials want is yet another blatant commercial. Story telling on Snapchat is a challenge, because you have just a few seconds to stand out. But there are different ways of doing this. Some successful start-ups such as MeUndies, come up with storyboard, plots and filming locations in order to keep their followers on their feet. Other businesses use Snapchat as a way to give people a glimpse of what happens behind the scene and share their company culture.

Snapchat geo-filters can also be used to your advantage to help market your business. You can create a customized Snapchat geofilter for areas that surround your headquarters, work base, or stores. Snapchat geo-filters can help in a few different ways. Firstly, they can increase the awareness of your brand amongst people in your surrounding areas. Secondly, they can drive people to your location in order to consume (if such is the case). Last but not least, your company name will be exposed to the various contacts of those who are posting your (hopefully) cool geofilter on their snapchat stories.
Aside from the features that Snapchat explicitly offer, there are unique ways of coming up with content. Giving a different employee an opportunity to snap pictures and videos everyday can help with showing different perspectives of what goes on behind the scenes. Additionally, you can add incentive for people to follow you. Many companies have included contest giveaways, scavenger hunts and couponing to their Snapchat Stories.

The great thing about Snapchat is that it’s probably the most casual way you will ever be able to interact with millennials. Though Snapchat doesn’t offer detailed analytics or graphs on the people who view your Snapchat stories, there are a few important metrics you should be paying attention to in order to measure your progress over time. Snapchat is constantly changing, and as it grows is continuing to offer more opportunities for businesses. The market access it offers is just too great for any entrepreneur to ignore.

8Jul
Top 3 Reasons to Attend the International Startup Festival

01_PME Blogpost Everyone knows that the beginning of a Montreal summer also means the beginning of festival season. However, unlike most festivals in the city, The International Startup Festival offers much more than just a good time. Welcoming the world’s top entrepreneurs, founders, investors and mentors, this festival is prime destination for anyone wishing to learn more about the experiences of some of today’s most creative minds. Harry Finkelstein, COO of Shopify, Alexis Ohanian, Co-Founder of Reddit, and Deepa Kunapuli, White House Digital Strategist, are just a few of the big names that will be in attendance. From July 13th to 16th in the Old Port, The International Startup Festival will provide a good and needed dose of unconventional and valuable learning that can help you take your start-up to the next level.

1. BUILD YOUR NETWORK

The Startup Festival’s tent village allows for authentic interaction between all festival goers. Meeting fellow entrepreneurs, key note speakers, and investors in a casual setting is a great way to build your network. Taking a step back from your smartphones and connecting with those around may very well lead you to your next investor, business partner or employee.

2. PITCH YOUR IDEA

If you dare to be bold, pitching your idea at the International Startup Fest can offer numerous advantages. This year 12 startups will get the opportunity to pitch in front of a live audience and panel or experts on the interactive stage. Not only does this give you a great opportunity to practice your public speaking abilities, it also comes with great visibility for your brand.

If you’re not one of the 12 startups pitching on the interactive stage, not to worry! Startup Fest also hosts numerous competitions with monetary rewards up to $200,000.

3. UNFORGETTABLE & UNCONVENTIONAL
Start-up fest is the biggest start-up event in all of Canada. It brings together investors, mentors and founders from some of the worlds hottest start-up cities. This is your opportunity to learn from the worlds best. They have either done what your looking to do or are doing it. What makes the event memorable is the best practices and know how that are shared and the collaborative environment that the organizers create.

4Jul
Top 3 Networking Spots in Montreal this Summer

02_PME Blogpost If you are an entrepreneur looking for networking opportunities in Montreal this summer, you are definitely in the right city. Whether a casual or formal setting, Montreal offers numerous opportunities for you to make new contacts and learn more about different industries in the startup world. Here are the top 3 events you should definitely visit this summer.
1. STARTUP DRINKS MONTREAL
If you enjoy socializing and having drinks with people who share your love and passion for startups, Startup Drinks Montreal is the place for you. This event happens on the last Wednesday of every month. This casual get together is one of Montreal’s longest standing events in the startup community. It’s an ideal place to meet new entrepreneurs, professionals, and students looking to learn from internship opportunities. No speakers, no agenda, Startup Drinks Montreal prides itself on its layed-back approach to learning from the experiences and interests of those in attendance.

2. INTERNATIONAL STARTUP FEST
The International Startup Fest is one of the largest startup event Montreal’s summer has to offer. Attracting people from different parts of the world, and some of the world’s most successful entrepreneurs, this festival should be at the top of your destination list. Happening from July 13th to July 16th, attendees will have opportunities to pitch, listen to experienced and accomplished speakers, learn about new startups, and connect with one another in the tent village.

3. JEUNE CHAMBRE DE COMMERCE- RESEAU DES JEUNES ENTREPRENEURS
The end of summer does not mean the end of prime networking season in Montreal. On September 1st, the Jeune Chambre de Commerce de Montreal will be hosting its training session for Reseau Jeunes Entrepreneurs (Young Entrepreneurs Network). By joining this network you will be presented with countless opportunities to meet other startup founders, coaching on market knowledge, and collaboration on different entrepreneurial projects.

These are just a few of our favorite hangouts this summer. Fortunately for you there are things happening almost every day in Montreal’s start-up community. Check out the Montreal new tech and start-up calendar for more!

3Jun
Stephen Bronfman CoFounder PME

http://maximum-impact.co/stephen-bronfman-entrepreneur-investor-philanthropist/

Allan Isfan interview Stephen Bronfman at C2MTL

Stephen Bronfman, ProMontreal Entrepreneurs(PME) co-founder, sat down with Allan Isfan from Maximum Impact and had a short chat . They discuss entrepreneurship and the various Montreal based initiatives his foundation is supporting with a particular focus on ProMontreal which he help start 16 yrs ago along with Jimmy Alexander.

He recorded this podcast at the C2 Montreal conference, an incredible conference that the Economist, coined as “the business conference unlike any other”. Approximately 5,000 attendees from all corners of the world come to Montreal to network, experience new things and learn from speakers like Mohammad Yunus, Chip Conley , David Suzuki and Stephen Bronfman.

To hear the podcast it it’s entirety, click here

Hope you enjoy.

29Feb
Mentorship for Entrepreneurs

PME funded business Main & Local talks about their experience with mentors.

There comes a time in every entrepreneur’s career when they are unable to make a decision or simply don’t know what to do, and require a certain amount of guidance. Asking for guidance is perfectly normal, but you must make sure you ask the right people. That is where mentors come in: a mentor is a successful professional that has experience in your industry, and helps your start-up by providing counseling and guidance.

Why do I need a mentor?

Getting a mentor can help you avoid some failure and will significantly shorten your learning curve: if you are unsure about which direction to take, you can ask your mentor instead of trying to do it yourself, and possibly doing it wrong. A mentor will also guide you. Sure, you are your own boss, but you still have to deal with investors, customers, and suppliers, so having a relationship with a mentor will increase your circle of confidants. Being an entrepreneur can also get quite exhausting emotionally and mentally: when you need support, you will always be able to turn to your mentor. If you are too emotionally invested in your start-up and can’t see things objectively, your mentor will be able to provide you with a fresh perspective.

Where can I find a mentor?

Note that some mentors work for free, under a volunteer model. Here are some examples of organizations that can help you find a free mentor:

ProMontreal Entrepreneurs: we match our mentor’s experiences to the needs of our mentees, and forge long-lasting relationships.
Yes Montreal: To apply to this mentorship program, you must be referred by a business coach. Yes Montreal mentorship provides entrepreneurs with a continuous mentorship relation for at least a year.

Other mentors require money for their services. The argument here is that mentors who have a monetary incentive are able to give better advice, and have better connections that they can introduce you to. Again, here are a couple of mentorship programs that function according to the paid model:

Highline: this organization offers a paid package where entrepreneurs can benefit from office space, mobile education, and access to a variety of mentors.
DreamIT: DreamIT is an accelerator that offers 3 to 4 month programs that include funding, training, and mentorship for experts across the United States.

I want to be a mentor. What’s in it for me?

Above all, there is the altruistic experience of helping a young entrepreneur seeking guidance and sharing your knowledge. Although this is a little cliché, changing an entrepreneur’s life can very well make your own life better. Furthermore, you never know where the relationship will take you: you might be pleasantly surprised. Many times mentors learn as much as the mentees do!

Apart from benefiting your own karma, mentoring will also benefit your career. Mentors are seen as more respected, knowledgeable professionals. You will improve your reputation in the business world, and will likely make new contacts that may be able to help you in the future.

Sounds tempting, right? If you are interested in becoming a mentor, why not consider ProMontreal Entrepreneurs. Our simple online application will get you mentoring young entrepreneurs in no time.