Entrepreneur Elias taps triggers to sales success - Business Edge Media
←
→
Page content transcription
If your browser does not render page correctly, please read the page content below
volume 18, issue 2
Entrepreneur Elias
taps triggers to
sales success
BY M ARIO TO NE GU ZZI
Business Edge News Magazine
O ver the years, Craig Elias has
discovered a unique approach
to turning more prospects into loyal
customers. This year it resulted in
Elias being named the #1 Canadian
(#15 Globally) on LinkedIn’s list of the
world’s top 50 B2B sales experts. It also
resulted in Elias winning a billion-
dollar-idea pitch competition, which
came with a $1-million prize.
His unique approach to building
business is to harness “Trigger Events”
to repeatedly get in front of the right
people at exactly the right time.
Elias, the creator of Trigger Event
Selling™, and the chief catalyst of
SHiFT Selling, Inc., is a highly sought-
after speaker, trainer, and adviser
who focuses on delivering unique,
compelling sales content.
S E E ‘L U C K Y ’ O N PAG E 1 0
INSIDE
PAGE 6 PAG E 1 4 PAG E 2 8
Hey politicians – Understand dynamics What in the World
please make before investing in Wide Web have
some decisions! cannabis we done?
By Norman Leach By Anthony Dutton By Dr. Tom Keenan
NATIONAL O FF I C E Articles may not be reproduced,
#301, 1640 12th Ave SW rewritten, distributed,
Calgary, Alberta disseminated, transmitted,
Hmmm . . . what to do? Millar time
T3C 0R2 displayed, published or
Make a @#%!ing decision, that’s Business Edge cryptocurrency
P: 403 968 7638 broadcast, directly or indirectly,
what you can do, Norman Leach expert Alex Millar helps assess risk
BusinessEdge.ca in any medium without
says to our ruling governments ... levels in the blockchain realm.
the prior written permission
albeit in a more polite manner :) Page 16
PUBLISH ER of Business Edge.
Page 6
Rob Driscoll Cross-country checkup
CANADA P O ST
403.968.7638 Greenfields of dreams Columnist Tim Reid opines on the
Rob@BusinessEdge.ca PM 42880023
Boutique cannabis grower state of real estate from coast to
Return undeliverable mail to:
Greenfields Premium Brands coast.
EDITOR #301, 1640 12th Ave SW strives to become an industry Page 24-25
David Robinson Calgary, Alberta leader by leveraging strategic
News@BusinessEdge.ca T3C 0R2 land development, plant yield World Wide (tangled) Web
optimization and strong Sir Tim Berners-Lee, credited with
DIGITAL MED I A management. inventing the World Wide Web,
Info@BusinessEdge.ca WANT TO REACH Page 7 is worried about the future of
the Internet. In a world of online
157,000 BUSINESSES
M ARK ETI N G / Cannabis Investing 101 scams, fake news, doctored videos,
A DVERTI SI N G IN ONE WEEK? Cannex Capital CEO Anthony and Russian trolls, Business Edge
403 968 7638 Dutton provides key insights to tech futurist Tom Keenan says
Ads@BusinessEdge.ca
CONTACT BUSINESS EDGE: investors who are considering we all have good reason to be
403 968 7638
wading into the fast-evolving concerned.
Ads@bsnessedge.ca
S UBSCRI P TI O N S cannabis sector. Page 28
McKinnley Prince Page 14
403 968 7638 Destination M for
Subscriptions@ NEXT ISSUE Jericho STACKs up marvelous
BusinessEdge.ca Special editorial sales and Recognizing value in low-cost Travel blogger Angela Driscoll
marketing spread in next production in the STACK basin, has high praise for Destination
issue: The #1 rule in S&M – Jericho Oil strives to acquire M after a one-week stay at the
never fall in love! a significant land base in international luxury vacation
Oklahoma. company’s Kelowna property.
Page 15 Page 30
GET YOUR RETIREMENT KIT AT WEALTHYEDGE.CA
Page 3
AREV Brands raising eyebrows
in cannabis sector
M ike Withrow has a lengthy
record of success as an
entrepreneur in the natural products
and technology sectors, but he has
a particularly noticeable spring in his
step these days. AREV Brands’ Acquisition of BC Bud AREV Brands has also secured 28
His latest venture, AREV Brands Depot (BCBD) allows for the complete acres of land in a strategic location in
International Ltd. (CSE: AREV), at control of an award-winning seed Sorrento, B.C. The company is working on
which Withrow is CEO, is a Canadian- bank of rare cannabis genetics. The its application for cultivation under the
based cannabis company with a acquisition has strategically positioned Access to Cannabis for Medical Purposes
strategic international presence. AREV, enabling the company to partner Regulations (ACMPR).
AREV Brands produces and with selected licensed producers (LPs) to AREV has a full line of cannabis-based
delivers functional ingredients grow specific strains on request, utilizing (THC and CBD) products that target the
from the company’s world-class AREV Brands’ advanced extraction top five specific medicinal applications
extraction system and is focused systems for ingredients and consumer- (anxiety, pain management, insomnia,
on the continued innovation within ready finished product lines. The central nervous system and sexuality/
the cannabis sector. AREV has spent company is launching www.bcbudradio. disorders.)
the last 2+ years on research and com this month for consumers to listen CBD sports nutrition supplements
development, and has developed and learn about this new burgeoning are also part of the business plan, as are
a comprehensive line of finished industry. advanced extraction systems. The
products. AREV also acquired BARE Topicals, Company has three advanced extraction
"It’s been years since being this an award-winning line of topical THC systems strategically positioned in B.C.
excited about a company's growth and CBD-based skincare products, as and Quebec for the production of CBD
prospects." says Withrow. "We have well as German subsidiary Deutsche oil and other terpenes.
a strong management team and a Medizinal Cannabis UG (DMC” for the For more information on AREV Brands,
fantastic business model." purpose of cannabis brokering. including regarding early-stage investment
The company has full market As a result of AREV Brands’ opportunities, contact Mike Withrow at
testing completed in topicals, strategic acquisitions, partnerships and 778-896-6536 or at mike@arevbrands.com.
genetics, edibles, extracts and infused industry experience, the company has Visit us at arevbrands.com.
beverages. As AREV Brands continues quickly defined several components of
to progress on its licensing in Canada, differentiation when compared to other
it has made recent key acquisitions. big players in the cannabis space.
Page 4
Oliver Heights is a piece of paradise
In the heart of Canada’s wine
country, Oliver, B.C., offers
stunning views, a great climate and all
the amenities your heart could desire.
For these and many other reasons,
Oliver is becoming a natural draw for
homeowners looking to buy property
in the Okanagan.
Oliver, known as the wine capital of
Canada, boasts over 40 wineries within
minutes of the town’s limits. It’s a
picturesque region that is known as the
warmest and driest region nationally.
Oliver has 5,000 residents but services
a community of 15,000-20,000 in the
surrounding area. Mt. Baldy ski hill is
26 kilometres away, two major golf
courses are within 5 minutes of Oliver
Heights, the Penticton airport is 25
minutes away, the U.S. border is 30
minutes away, in addition to a Formula
1 racetrack, a regional hospital and a
variety of schools.
“Keep in mind that there is “The Phase 1 & 2 lots are suited for “It’s a very active area. There are
virtually nothing for sale in the Town single-family homes, but future phases many lakes and hiking and biking trails
of Oliver,” says Scotty Grubb, CEO include townhomes and duplexes,” in the area, unexplored by many. Oliver
of the Oliver Heights Development Grubb says, adding that the lots are Heights community is a 10-minute
Corporation. Grubb says Oliver Heights being sold as a bareland strata. Current walk to the town services. All of the
development encompasses 21 acres strata fees are expected to be about properties have great views of the
in the southwest corner of Oliver. $95 per month and would include orchards and the rich wine valley on
Ultimately, the community will have up snow removal and landscaping. one side, and backing onto picturesque
to 300 homes. It is a benched property “This project is ideal for people crown park land on the other.
affording stunning views for all homes looking for an investment opportunity, “We are excited about creating a
Phase 1 of the project is sold out. as housing in this region is in demand. master planned development in the
The road and lot servicing is underway Oliver has a zero vacancy rate,” heart of wine country. With the amazing
for the completion of the Phase 1 lots, Grubb explains. “Rental revenue is an range of local amenities and recreational
with Phase 2 lot sales just launching. attractive component to many looking opportunities, Oliver Heights will be a
There are 17 lots in the first phase to buy and eventually retire in the area. remarkable community in which to live.”
and 23 in the second with pricing The target demographic is retirees and See the adjacent advertisement
starting at $129,000. The average lot young families, as you can basically and visit oliverheights.ca for more
size is approximately 40 feet wide by have a lot and a city home with a full information.
100 feet (12m x 30m). basement starting under $400,000.”
Page 5
ng
lli
Se
ow
N
B e i n g O n
I t ’ s L i k e d
Y e a r R o u n
a c a t i o n —
V
r
Oliver, Canada’s Wine Capital, is surrounded by orchards and vineyards. Oliver
Ol i v e
Heights, an exciting new residential development, boasts breathtaking views and
easy access to a variety of recreational opportunities, including championship golf,
water sports, cycling, hiking, bird-watching - even racecar driving!
Whether you're a first-time home buyer, have a growing family, or are thinking of
investing or retiring, Oliver Heights offers you the opportunity to own your own land
in BC’s southern Okanagan. Its prime location is steeped in nature, yet has every
convenience just minutes from your door. *Note: Oliver has no speculation tax.
KAMLOOPS
VERNON CALGARY
WHISTLER KELOWNA SERVICED LOTS STARTING UNDER $110,000
VANCOUVER CRANBROOK
OSOYOOS
1-888-481-4941 • info@oliverheights.ca
www.OliverHeights.ca
USA
Page 6
OUT OF THE NORM
Government indecision dooms us
to doldroms
governments waffle and the the building. Either way, the taxpayers will adjust. We just
N ORMAN LEAC H business community is thrown politicians can clam a victory need to know where we are
Business Edge News Magazine into windless doldrums. while Canada suffers. going, and that politicians will
Calgary, once an economic It is no longer acceptable stay the course.
W
powerhouse, is an excellent for governments to act as Norman Leach is an
hen sailing ships example of what happens though decisions don’t Edmonton-based international
dominated the when governments waffle. have consequences. As a business consultant, author
world of trade, they depended Whereas four years ago country, we are well past that. and historian who is interested
on the wind to fill their sails Calgary had virtually no Politicians needs to walk the in the intersections of
and push them to ports around unemployment, today nine talk. Simply tell business what government, business and
the world. Trade came to a stop percent of Calgarians are you are going to do, and then citizens. He can be reached at
when the wind stopped – and out of work. Whereas once do it. Business will adjust, nsleach@telusplanet.net.
if the wind stayed stopped, Calgary’s downtown was
trade stopped and economies charging premium rents while
suffered. companies clamoured for Thinking of buying a home
Today, at least in Canada space, today 25% of Calgary’s and want to fully understand
we are in the doldrums. Sadly, office space is sitting vacant.
the numbers?
these doldrums are caused not Whereas once oil and gas
by a lack of wind but by lack of were kings, now our locally I CAN HELP!
government decisiveness. produced oil sells at massive
Business can survive discount. This strengthens
With a simple no-obligation coffee meeting or
anything except government other producing nations and phone chat, I will help you better understand the
uncertainty. When weakens Canada. market and the important numbers.
government says taxes are U.S. General George S.
I can also help you with:
going up, the business world Patton once said, “Lead me,
adjusts. When government follow me, or get the hell • debt consolidation • real estate purchasing
says minimum wage is going out of my way.” It is time for • refinancing • real estate investing
up, the business world adjusts. every politician, at all levels
When government says we to follow the general’s advice.
are building a pipeline, the It is time to either build the
business world adjusts. When Trans-Mountain pipeline, or
government says we are not. Lead – make a decision.
not building a pipeline, the Politicians at all levels are
business world adjusts. trying to suck and blow at the Contact me any time!
The challenge today is same time. They claim in the MICHAEL DINGWALL
that our governments are media that Canada needs a Mortgage Associate, Apex Mortgage
no longer making decisions. pipeline to get its products to 403 804 4374
Afraid of the electorate on market and then cry crocodile mdingwall@mortgagesbyapex.com
both sides of the spectrum, tears when the courts halt
Page 7
Greenfields Premium Brands Inc. poised to
become leader in cannabis industry
Greenfields has acquired a 14-acre
medical cannabis business development
park with a pending ACMPR application to
become a licensed producer in Alberta.
This 20,000-sq-ft facility is projected to
produce about 6,000 kg per year of cured
medical cannabis, as well as 600 kg per year
of high-grade cannabis oil.
The company’s existing test facility just
south of Calgary serves as a laboratory
On
for examining baseline design controls,
a tour of Greenfields Croteau and Larsen have high automation, and standard operating
impressive development integrity, and they know how to run a procedures. Ongoing testing of lighting
park on Calgary’s southern outskirts, rock-solid, profitable business. systems, security controls, environmental
it was easy to see why principals “Coming from the financial sector controls, and automation gives Greenfields
Jay Croteau and Lance Larsen are gives us an important advantage,” adds the proven processes that will maximize
so enthusiastic about the boutique Croteau, who ran his own financial plant yield as the company scales up.
cannabis company’s prospects for advisory business profitably for many Greenfields is expanding into retail
growth. years. That success was tied to his Cannabis by opening as many as 5 retail
Decades of experience in the science ability to help businesses operate tax locations to start, with as many as 15 retail
of growing combined with strong efficiently and with a healthy balance locations available in Western Canada.
backgrounds in the financial industry sheet. These retail locations will be a key element
give the Greenfields management team The opportunity to invest in an in executing the distribution model and
a leg up on most of the competition in early-stage cannabis company with generating brand awareness.
the burgeoning cannabis sector. solid roots and a great business plan in In Canada, Greenfields’ focus is to
“We understand the business at the appealing to say the least. complete the design, build, and license of
deepest level,” explains Larsen. “We Buoyed by the legalization of medical cannabis facilities. This growing
have worked extremely hard in testing cannabis use in Canada, the industry technology company is developing purpose-
and monitoring countless aspects of is expected to see 700,000 registered built, automated, vertical production
lighting and temperature controls. We patients (Mackie Research – April 8, facilities designed to maximize production
have superior moisture control so there 2016) and an ACMPR market of $2.1 and minimize consumption cost.
is zero mildew, zero mold on our plants. billion (Health Canada report) by 2020. Greenfields is positioned to be a leader
“We are keenly aware of the genetics Another Health Canada study in the global cannabis revolution. If you are
and the science of cannabis plant growth indicated 89 licensed producers in interested in joining the green movement,
in general. We know how to maximize the country with market potential of contact Jay Croteau in Canada at 403-922-
quality while ensuring a very high output $22 billion annually for cannabis and 2912, the U.S. at 702-710-8909 or email
per plant.” ancillary market (Deloitte Report 2016 jayc@greenfieldssupply.com.
Greenfields mission is to lead high- — Recreational Marijuana: Insights and
Disclaimer: This feature is for informational
growth investment in the Canadian Opportunities). purposes and is not an offer for sale. Anyone
cannabis sector, leveraging strategic land Greenfields is rolling out an effective considering investing in Greenfields Premium Brands
development, plant yield optimization, plan to carve a lucrative slice of the Inc. is advised to first consult an independent
and management expertise. enormous cannabis pie. financial adviser.
We’ll
help you be
found faster.
Meet Melissa. She’s been working at Richardson Lighting –
where she’s a partner – for 27 years. Melissa’s seen lighting
fashions come and go, but one thing remains the same; people
always need lights. And when they’re looking, she knows her
business will be found. Her Mysask411 profile gives potential
customers all the info they need, plus links to her website and
Facebook page. It all ensures Melissa’s business stays
in the spotlight.
directwest.com
Page 10
CONTINUED FROM FRONT COVER
‘Lucky sales guy’ hit entrepreneurial jackpot
Flanked by wife Heather
Wootton and son Liam
Elias, Craig Elias picked up
a Gold Award of Excellence
in Entrepreneurship recently
at the biennial congress of
the World Federation of
Colleges and Polytechnics
in Australia.
Elias helps people identify the specific Trigger Events that He also concluded that there was a business opportunity
create demand for their products or services, discover which to create an exchange that shared information about
decision makers recently experienced these Trigger Events, decisions makers who recently experienced what Elias calls
and how to close more sales by reaching these decision makers Trigger Events, which, he says, make them five times more
before the competition. likely to switch suppliers. With that knowledge, he started a
‘‘For years, we have been conditioned to believe that there company called InnerSell. Elias had it up and running for five
is no such thing as a silver bullet in sales. I can tell you there months when he got involved in a billion-dollar-idea pitch
is a silver bullet in sales; it is called ‘timing’ getting in front competition. He took home the top prize of $1 million US.
of the right person at exactly the right time. When you have The author of the best-selling book SHiFT! recently
the right timing, the sale almost happens by itself – you have spoke with Business Edge. Here is an edited version of the
no challenges getting to the decision maker, understanding conversation:
their dissatisfaction, presenting a solution, or closing the sale,’’
says Elias. ‘‘Every single day, thousands of decision makers 1. You talk about three keys to sustainable growth.
experience a Trigger Event that makes them more likely to What are they?
switch vendors.’’ Be first, be preferred, and be chosen - those are the keys to
Elias says that for almost 20 years he was just a lucky sales any company’s sustainable growth. If you can nail those three
guy with an incredible knack for showing up in front of the things, it becomes a lot easier to get new customers faster and
right people at the right time. grow business with existing customers.
He was a top salesperson for every company he worked for,
including his last employer, WorldCom Canada, at which he 2. Who are the best people to target as potential
became the #1 sales person within six months of joining the customers?
company. I’m a big fan of two things. First, focusing on decision
His luck ended when WorldCom admitted to conducting $11 makers who have money, authority and influence. Second,
billion in accounting fraud. Suddenly, nobody would buy from focusing on those decision makers who have recently become
Elias. At that point, he began reflecting on his luck as a sales dissatisfied with the status quo.
person, and realized it was not so much luck but timing.Page 11
5. How can our sales-minded readers determine the
best Trigger Events for what they sell?
Status quo can be viewed as For 20 years, my sales managers taught me this process
when people are happy with called “Lost Sales Analysis”. Analyze the sales you lose,
hoping – with the emphasis on “hoping” – that you can
what they have, and they see figure out how to win more sales. The way that I come at this
no reason to change. What problem is how do you analyze the deals that you win, rather
than the deals you lose? How do you conduct a “Won Sales
people don’t understand is Analysis”? And how do you ask a few key questions so you
that the status quo is not understand what events made somebody more motivated to
become your customer? When did these events happen? And
just your competitors; it’s what was it that you have that made them say, “I want to buy
your competition. from you instead of somebody else?”
6. How do you get the attention of these motivated
buyers?
You pick up the phone. You find a way to create something
I call a “Seven-Second Sale”. A sentence with seven or eight
3. Can you expand on that? words that gets the person on the other end of the line asking
Status quo can be viewed as when people are happy with the question, “How do you do that?”
what they have, and they see no reason to change. What
people don’t understand is that the status quo is not just your 7. What do you recommend people say when asked,
competitors; it’s your competition. “What do you do?”
So if a competitor does the exact same thing that you You need to create interest in what you do by using verbs
do, the competition solves the same problem or delivers that describe the value of being your customer. When you
the same value outcome by using a completely different use nouns to describe the product or service, you lose the
product or service. For example, if you own a jewelry store, opportunity because they tell you, “Oh, we already get that
your direct competitors are other jewelry stores. But your from someone else,” and the conversation is over.
competition is any other way a person could say “I love you”
to their significant other – flowers, chocolates, perfume. So 8. What about word of mouth?
the competition is another way to solve the problem by using Research says that word of mouth outperforms every
a completely different product or service that delivers the form of paid advertising by a factor of two. And the majority
same outcome or value. of the time, the first thing people do when they hear of you
is go to Google. If they don’t go to Google, they go to the
4. What turns decision makers into motivated number two search engine on the planet, which is YouTube.
buyers? They search for certain keywords. One of the things I love
I describe motivated buyers as those who are in what is about social media is owning profiles, or in some cases,
called a window of dissatisfaction. These people are unhappy domain names, related to those keywords that they might
with what they have but are so busy solving other problems use those two- or three-word combinations. People aren’t on
that they haven’t done anything about it yet. Motivated Twitter looking for you. They’re on Google looking for you.
buyers are created by events that trigger dissatisfaction with They find your social media profiles and your competition
the status quo and generate interest in doing something then is on Page 2 or 3.
different.
CO N TI N U E D O N TH E N E XT PAG EPage 12
Crucial goal is to become prospect’s emotional favourite
9. What about people who fill in forms on a
company’s website?
I’m a big fan of having valuable content, not just pricing,
and having a visitor fill in a form so you can turn an unknown
visitor on your website into a known visitor. Research from
MIT says that if you phone someone that fills in a form in five
minutes or less, you are 900 per cent or nine times more likely
to actually talk to that person. But at this stage of their buying
process, you can’t sell when you get them on the phone. You
have to ask the right questions. For me, the three questions
that you should ask are: Did you get the email that has the
information you were looking for? When you heard about us
or read about us, what resonated that made you say, “Hey I
should check this out?” The third question should always be
something like, “I’m curious, what happened recently that
made this content more important or more relevant?” You 12. What about at networking events?
are listening for if there has recently been a trigger event that I’m a huge fan of networking events and staying in touch
creates dissatisfaction with the status quo. with those I meet through LinkedIn. I’m LinkedIn user 3,956
of over 500 million, and over the last 15 years I have used
10. That helps people be first, but what about being LinkedIn to build and maintain connections with over 25,000
preferred? people. To help make that happen, I use an application that
Now, I’m first. I need to now find a way to be the person takes a picture of a business card, puts their information on
that someone would rather do business with. So how do you my phone, emails them my contact information and sends
get an advantage? How do you become the preferred vendor? them a LinkedIn connection request right away.
People make decisions based on emotion. And they justify
with logic after the fact. What you want to do is find a way to 13. What can people do to convert more people into
be what I call their “emotional favourite”. And the emotional customers?
favourite is the person that they share information with that The challenge that most people have is that they have
they don’t share with other people. You need to find a way to all these prospects, but they are not closing the deal. The #1
build a connection with somebody, so you have experiences, reason that they can’t close the deal is people can’t justify
interests, values or aspirations in common with them. By the purchase to other people. So the challenge is helping the
having these things in common, you are more likely to become prospects justify the decision. You got them first. You become
their emotional favourite. the preferred vendor. But now they need to justify their
decision to others, and the way they justify that is through the
11. How can social media help with that? acronym RIPES.
I’m a big fan of a term called propinquity which is the
impact of nearness. I’m a big believer that when people go 14. Please explain RIPES.
to your LinkedIn profile, they shouldn’t learn how great you RIPES are the five ways that people justify a purchase
are. They should learn who you are. When they go to your either to themselves or other people. Risk avoidance, image,
Twitter profile, there should be a visual up there that somehow productivity (which you want to improve), expenses (which
represents something about you so they can make this you want to reduce), and simplicity or speed.
emotional connection. By having these things in common with Data suggests that somewhere close to 30 per cent of the
people and using social media to share them, you are making it time the person who is easiest to do business with was the one
easier to become the emotional favourite. who was chosen.Page 13
I think I have the best job on the planet. I spend my days helping
students come up with ideas, launch ideas, grow ideas, and help them
become role models that inspire the next batch of students.
15. Why is it so important to make it easier to an entrepreneur. I recently was given the Gold Award of
become a customer? Excellence in Entrepreneurship at the biennial congress for the
People these days are extremely busy, and the more effort World Federation of Colleges and Polytechnics for the work I
it is to become a customer, the longer it takes. What happens do at Bow Valley College.
all too often is someone says, “I’ll get to that later” and later,
unfortunately, ends up being never. If the customer has got 18. How can entrepreneurs and salespeople benefit
five minutes, let’s do it now because you want to move them more from peer mentoring?
as far along in the process as you can. It’s a process that’s When you have been an entrepreneur for a while, it is hard
called “First-call Effectiveness”. to find a mentor who can teach you new things. So to help
entrepreneurs who have this challenge, we are putting in place
16. Where should people get or share testimonials? a peer mentoring program for the entrepreneurs at Bow Valley
If it’s a personal testimonial about an individual, it College.
should go on your LinkedIn page. For business, you should Peer mentoring is about having regularly scheduled
have a testimonials page, and because there are more people meetings at which you learn from your peers, share your
on LinkedIn than there are going to your website, you should challenges, help each other solve problems, and then hold each
put them on your company page on LinkedIn. other accountable for the things you promised you would do.
What I like about a good testimonial on LinkedIn is that if I learned the power of peer mentoring by visiting some of the
it’s from someone people already know or have heard of, that many peer mentoring groups in TEC Canada.
gives the testimonial more impact.
19. Any last advice for our ambitious readers?
17. What do you like about being an on-campus My last advice is that if you want something, just ask.
Entrepreneur-in-Residence at Bow Valley College in What’s the worst thing someone says? They say no. No does
Calgary for the past three years? not mean never. It just means not today, so don’t be shy about
I think I have the best job on the planet. I spend my days going back a month later and asking, “Has anything changed
helping students come up with ideas, launch ideas, grow recently that makes what I sell more important or more
ideas, and help them become role models that inspire the relevant?” A really good example of this is a YouTube video
next batch of students. What I love about this job is you start with Steve Jobs. Go to Google or YouTube and search for “Steve
with people who have just an idea and help them develop Jobs just ask video”. There is a very powerful message in that
the four skills needed to become a successful entrepreneur. video.
Curiosity first, confidence, competence and then
connections. I help them validate their business idea, build 20. Where can we get a copy of your award-winning
some skills and teach them how to pitch. We have a business sales book?
idea competition on campus called VentureQuest. Students I If people want to get a free copy, they can go to
work with in the competition are completely different people ShiftSelling.com/Business-Edge, and if they fill in the form,
when they are finished with the competition. I love how I get it will immediately email them back the entire book in Adobe
to be the person who starts them on the journey of becoming Acrobat (.pdf) format.Page 14
INVESTING EDGE
Understanding industry dynamics key
to investing in cannabis
With IBC Advanced Alloys, The industry structure is and running. Cannex acquired
we introduced a range of similar to the oil patch, in BrightLeaf Development LLC,
remarkable, proprietary which you have upstream which, through subsidiaries,
rare-metals-based alloys (producers), midstream holds real estate assets,
that are still being used in (transporters) and downstream property leases, brands and
various industries including (refiners and marketers). intellectual property, and
A N THON Y DU TTO N
precision manufacturing With Cannabis, the upstream material supply agreements
Guest Columnist
and military aerospace. The represents the growers, with Northwest Cannabis
Business Edge News Magazine
problem was, it took many midstream is the extractors/ Solutions (NWCS). NWCS is
This column is part of an ongoing years to develop and prove processors/manufacturers, and the Pacific Northwest’s largest
series of expert opinion pieces that the product actually did downstream the retailers. full-line cannabis producer/
from industry insiders who add what we said it would do. In Most of the cannabis-related processor.
a new level of insight to Business spite of the alloy finally being investment to date has been Meanwhile, Cannex has
Edge’s editorial lineup. a significant and important directed to the growers such $48 million in cash to help
technical achievement and as Canadian giants Canopy, acquire other high-calibre
commercial success, the story Aurora, and MedReLeaf. These assets. For now, we are focused
L
lost its lustre over time and companies have performed on purchasing assets and
ike many, you might did not produce big wins for very well for investors and establishing partnerships in
be wondering if now investors. boast billion-dollar-plus the U.S. as well as Canada. The
is a good time to invest in the Cannabis is a completely market caps. U.S. is a very lucrative market
cannabis industry. different story. A huge We believe that the best with eight states already
As the CEO of Cannex market exists, and research opportunity for growth having legalized recreational
Capital (CNNX-CSE), I have an and common sense indicate and profitability is where marijuana use, and 29 having
inherent bias, but I believe that that the industry will grow Cannex Capital is positioning legalized possession and
there are many compelling sharply in the coming years as itself – as a provider of the consumption to some degree.
factors that make this an ideal countries liberalize legislation highest quality cannabis and California alone, according
time to invest in the industry. pertaining to medical and derivative products such as to ArcView, is projected to be
First, there is a massive recreational marijuana use. branded oils, concentrates the largest cannabis economy
multi-billion dollar market The global cannabis market and edibles. This is where in the world with projected
that already exists, and the currently sits at about $8 companies can create strong annual revenues of US$6
transition of cannabis to billion, and a 2017 report brands with excellent margins. billion by 2020.
a legal, regulated industry from the Brightfield Group We will be operating primarily Anthony Dutton is
presents well-positioned predicts that the international in the midstream/extraction/ Director and CEO of Cannex
companies and their investors cannabis market will hit $34.1 processing s and downstream/ Capital. He has a lengthy
with an opportunity to reap billion by 2021. The upside retailer spaces, and our success track record of success
huge rewards. for well-positioned, well-run will be complementary to in the start-up space and
Comparing the opportunity companies is tremendous. that of the large commodity decades of experience in
here to a tech company that I Once you have decided growers. corporate finance and
took through the start-up and to invest in cannabis, it is We have a leg up on much of business development. He
development phases helps important to understand the competition as we possess can be reached at adutton@
paint the picture. some industry dynamics. great assets that are already up cannexcapital.com.Page 15
Low-Cost Oklahoma STACK production
paying dividends for Jericho Oil
target horizons (about 900 feet thick), STACK boasts top-tier well economics
extensive production history and similar to the Permian, which translate to
historically high drilling success rates. very low breakeven prices near $25-$30
The STACK fields were originally per barrel, which help insulate Jericho to
developed by the majors (Exxon, Texaco the downside.
and Shell) and were drilled vertically. Jericho has assembled its low-cost
The recent introduction of horizontal STACK acreage through the backing
drilling and hydraulic fracturing has of its long-term shareholder base. Of
reinvigorated the play, and billions note are three of the largest investors
T
of dollars of investment have been in Jericho: the Breen Family (Ed Breen,
he past few years have been directed into the STACK basin because CEO of the chemical and agriculture giant
brutal for the junior oil sector. of the repeatable stacked, multi-zone DowDuPont), Gibralt Capital (Vancouver’s
The sustained oil price downturn of successful drilling and development Belzberg family) and a prominent
2014-2017 obliterated the small-cap across the play. While the larger U.S. Oklahoma oil family. While the equity and
oil and gas landscape, and those that E&Ps continue to have significant assets credit markets were virtually closed to
remain are still battling high costs and and investments in the STACK, during E&Ps during the oil price downturn, Jericho
low returns. the recent oil price downturn a number was the exception, raising $45 million in
With oil prices having rebounded to of smaller companies were forced to equity with its key shareholders, enabling
a recent range of $55-$75 per barrel, divest their investment. it to aggregate a sizable, high-quality land
it is time for savvy investors to scour Enter Jericho Oil (TSX-V: JCO), a position at the bottom of the market.
the oil and gas marketplace for those well-capitalized junior company with So far in 2018, Jericho’s STACK JV has
surviving junior companies that will a strategy of buying low in proven drilled and reported on two successful
provide superior returns. The winning plays. Having recognized the value of horizontal STACK wells. The first, targeting
attributes come down to this: low-cost production in Oklahoma and the Meramec formation, achieved a peak
1. Low-cost, high-return exploration the STACK basin, management set out 24-hour rate of 957 oil-equivalent barrels
and production with systematic precision to acquire a (BOE), while the second well, targeting the
2. Experienced management team with significant land base in this region. Osage formation, hit a peak 24-hour rate
proven success Today, Jericho, with its private joint- of +500 BOE.
3. Well capitalized with access to venture partner, owns and operates There are several catalysts ahead for
growth financing three high-quality oil and gas plays shareholders as the coming months look
One of the lowest-cost oil and gas across Oklahoma, including ~16,000 to be filled with positive activity. Jericho
plays in North America is the Oklahoma acres in the prized STACK play, through recently announced two new horizontal
STACK. its STACK Joint Venture (STACK JV). STACK wells (drilling underway) and
STACK is an acronym describing Large E&Ps such as Continental expects additional “tuck-in” acquisitions
both its location and formation – Resources, Devon Energy, Marathon contiguous to its current acreage
Sooner Trend Anadarko Basin Canadian Oil, Newfield Exploration, Chesapeake increasing Jericho’s already, envious
and Kingfisher (County), with multiple, Energy, XTO (Exxon) and Alta Mesa position.
stacked productive formations Resources, collectively hold over 1 “We believe Jericho will have significant
present in the area. The STACK is million acres in the STACK play. Why? growth opportunities ahead of it and be
a prolific hydrocarbon system with Because of the superior well results well positioned as a leader in the STACK,”
high oil content, multiple horizontal from stacked-pay formations. The said Brian Williamson, CEO of Jericho Oil.Page 16
INVESTING EDGE
Not All Blockchains Are Secure
A L EX M ILLAR
Business Edge News Magazine
In an attack earlier
this year, the
Bitcoin Gold (BTG) blockchain
had two hours of transactions
rolled back and altered,
costing someone tens of
millions of dollars. Mining
BTG does not consume much
power, so one entity was able Blockchains are touted as problems. So far, however, Alex Millar is a Queen’s
to dominate the mining, and panacea for the problems the most useful applications engineering physics grad. Alex
re-write the blockchain. They of online reputation, to emerge from it are digital first heard about bitcoin in 2011,
pretended to send some BTG smart contracts, and even Beany Babies called Crypto bought his first in 2013, and has
to someone, got bitcoin in supply chain management. Kitties, and digital Canadian been studying cryptocurrency
return, then re-wrote the BTG Block chain and supply Tire money issued in full time since 2014. He shares
blockchain to send the same chain — seems like a perfect unsanctioned IPOs known as his research and thoughts
BTG back to themselves. match! In last volume of ICOs. on a YouTube channel, which
Performing this kind of “51% Business Edge, we read that, Blockchain sounds cool, features technical videos such
attack” on bitcoin would be far “Blockchain is a technology but its only real use case as, “What Bitcoin Miners
more difficult and expensive, that permanently records right now is with boring old Actually Do” and “How To Do
primarily because mining transactions in a way that bitcoin: nerd money that A Multisignature Transaction”
bitcoin uses roughly 170x more cannot be amended, altered, tends to increase in value by as well as the hit pseudo-
power than BTG. It is bitcoin’s edited, or erased.” The BTG 10x or so every few years. SO comedy: “Don’t Buy Bitcoin.
great power consumption that incident demonstrates that BORING! It’s Gonna Crash.” Alex has had
makes its blockchain so hard this is not always true. If someone starts their essays published on CoinDesk,
to mutate. As far as anyone I Even the second most own blockchain to make their including “Bitcoin and The Law
know knows, such an attack powerful blockchain, own “immutable database” or of Conservation of Energy”.
has never occurred on the Ethereum, was altered after ledger, that person is either In 2015, he ran for member of
bitcoin blockchain. (If you are The DAO attack of June 2016, scamming or ignorant. Their parliament in East Vancouver
transacting large amounts, you re-assigning $50 million blockchain won’t be any as an independent to raise
could wait 20 or 30 minutes worth of ETH. Ethereum, of less mutable than an Excel awareness about bitcoin.
for two or three confirmations course, is the blockchain most spreadsheet. Be careful out Alex is most active on twitter
to be sure.) hyped to solve all the world’s there. as @thealexgalaxy.Page 17
MetCredit pumps oxygen into your
business by bolstering cash flow
D ebt collection agency
MetCredit, following the
vision of president and CEO Brian
Summerfelt, is boosting the bottom
lines of businesses by helping them stay
on top of their accounts receivable.
“Cash flow is oxygen to business.
When it gets suppressed, the
consequences can be severe — even
catastrophic. That’s why one or two
non-paying customers can be enough Brian Summerfelt,
to keep a business owner awake at President & CEO
night,” says Summerfelt, who has built
the company on the pillars of trust and “Ultimately, the name of the game MetCredit doesn’t just believe in that
respect. here is to increase cash flow for our as a lofty vision written on a plaque on the
“Most clients view us as an customer but at the same time make wall. It practises that core value each and
extension of them. They don’t have the sure the person who is paying that every day.
infrastructure to handle the receivables delinquent account remains on good Its strict code of ethics and conduct
end. They do whatever they do well terms and still has goodwill toward the ensures that each employee represents
whether it’s making gadgets, selling client.” clients in a confidential, professional and
equipment or services such as telco Summerfelt has created a great discreet manner throughout the entire
companies.” atmosphere for the company’s collections process. In all its collection
The company was founded in 1973 employees, and that is reflected in agency offices Canada-wide, it’s a core
with its head office in Edmonton. how staff operate in its debt-collection value it lives and breathes. Respect
Branch offices exist in Vancouver, initiatives. He has helped create a is at the heart of its training, policies,
Mississauga and Montreal. different approach in the industry. procedures and operational philosophy.
With Summerfelt’s leadership, “Most of the people we are MetCredit is the trusted debt recovery
the company is deeply rooted in its competing with are huge, huge partner of many top businesses from
dedication to providing professional, companies,” he says. “We are really telecom companies to banks, credit unions
reliable service characterized by the the only one of the bigger current and large consumer credit providers. Trust
highest ethical standards. For years, it collection agencies that has its primary and satisfaction are the foundation upon
has sustained among the debt-recovery office in the West. Second, is our style which Summerfelt has grown the company.
industry’s highest success rates. or approach to debt collections; the MetCredit has developed an easy, one-
“We’ve got a lot of technology individual has to be respected at all of-a-kind online debt-collection system
and infrastructure in place to reach a times, and that is number one in our for loading one or many overdue accounts
large number of people very quickly,” code of ethics. day or night. Once a client has been set up,
explains Summerfelt. “So that’s why it’s “The individual is everyone – it’s the there is no easier way to collect business
convenient for businesses of all sizes debtor, it’s the client, it’s the employer, debt.
to use us. We’re reaching people by it’s our coworkers. If you treat someone For more information about the
mail, by telephone, by text, by email with respect – true respect – you’re company, email Brian at bsummerfelt@
campaigns. going to get it back in return.” metcredit.com or visit metcredit.com.Page 18
ONLY READ THIS AD IF YOU ARE INTERESTED
IN GROWING YOUR BUSINESS!
“
Business Edge has delivered excellent results
every time I have used them for advertising
“
After my firm ran just one full-page
advertorial, I was inundated with requests
various real estate developments as well as for our services. Wow. I received over $55
delivering high-quality leads for investment fund- million in funding requests and we were
raising. Publisher Rob Driscoll is a very creative able to close over $30 million of these!
writer with an excellent understanding of creative Response went on for over three months.
branding and campaign execution. Keep up the great work!
RANDALL WHITE LYLE GUIDOLIN
PRESIDENT, DAVINCI INTERNATIONAL APPROVED CAPITAL FINANCE
” ”
“
We used Business Edge to help promote a company to a new audience and secure
investment via investment meetings in various cities across Canada. We could not believe
the amount of response that our full-page ad received – and not just in major centres.
We asked prospective investors to contact us through our web site and fill out the form to
receive the investment package. In three weeks, we received over 130 requests.
JIM R. THOMSON
CEO, VENTUREFUNDER.CA
”
BUSINESSEDGE NEWS MAGAZINE
For more information on how delivering your message directly to
decision makers at an unrivaled 157,000+ businesses per issue can
do really cool things for your business, contact us now:
ADS@BUSINESSEDGE.CA 403 968 7638Page 19
Page 20
Don’t you wish you could just wave a magic wand
and make sky-high legal costs disappear?
Well, at CourtWizard Legal Support Services, we might not be able to
cut humans in half like those illusionists at the circus, but we can cut
your legal bill by much more than half.
The fact is, lawyers have been making our assets disappear for years. They use this really cool
make-believe trick - as in they make you believe that they must prepare all of the legal documents
and charge you thousands of dollars for work that is often nothing more than minor adjustments
to a template.
With Houdini-like precision, our three-ring team of high-calibre lawyers, professional writers and
a personal account manager helps you prepare legal documents that optimize your prospects for
success while slicing your costs to a fraction of the regular rates.
If you are self-representing, we will help you navigate the complex legal system without feeling
that your head is in the jaws of a lion.
CourtWizard can levitate you above your counterparts
in a wide range of legal matters including:
* Small claims (we can appear in court alongside you as your agent)
* Lawsuits of any size; personal or in business
* Contracts for business or personal use
* Family/divorce proceedings
* Litigation of virtually any kind
We do not charge you $400 per hour. We charge
you $250 PER MONTH or $1,800 PER YEAR.
For an initial, no-charge consultation, contact
Rob at 403 968 7638 or info@courtwizard.ca
CourtWizard.caPage 21
Proper capitalization in this
market is Paramount
COMMERCIAL MORTGAGES
BUSINESS CAPITAL
STRATA LOANS
EQUIPMENT FINANCING
Paramount
Financial
Services
A DIVISION OF PARAMOUNT HOLDINGS LTD.
CONTACT US TO LEARN MORE
paramountfinancial.biz | 604.552.4392
IN OUR 20TH YEAR!
Because
__IT Happens
Shouldn’t your business data be a bigger priority?
Uniserve Enterprise has brought together the best in
class security products and services to provide your
business with the security coverage required to meet
the demands of your market.
enterprise.uniserve.com
Don’t let _ _ IT happen to your business. Call Today 604.395.3961Page 22 Q&A with Dominique Forand ROB D RIS CO LL Business Edge Business Edge caught up recently with Montreal- based executive coaching star Dominique Forand. We are honoured to share her insights with our audience in a Q&A format. 1. What made you decide to a vision that would bring me irreplaceable. One of my executives to drive better make a career out of helping top beyond my own boundaries by clients called me last week results faster. executives transform and grow helping people grow. and said: “Dominique! I lost We spend the first month their businesses? Specifically, I believe that my best vice-president and clarifying, reinventing and In 2006, after selling a people can make changes and I don’t know how to replace positioning your organization business of 10 years and that changes happen if the top her.” Leadership and talent for future success. Then we completing my master’s decision makers lead the way are among the top concerns define our focus, design new degree, I knew I was ready within their organizations. By of Canadian executives. foundations in the areas of for more. It wasn’t easy to being able to share my own Canadian executives should opportunity or concern and start a business that became experiences and by working provoke, challenge and even start implementing the Elite recognized as one of the Top with diverse groups of people, frighten leaders so they system as it applies to move 50 fastest-growing companies I am able to attain results identify the great leaders from your business forward. The after only 18 months of that help leaders position the good ones. Strategy has no ultimate goal is to enable operation with 175 employees. themselves for success while value without effective leaders decision makers to execute I faced many struggles that providing them with the to execute it! their business strategies serve me well today. ability to achieve their overall while providing them with Afterwards, I knew I was vision. 3. Please describe the typical the ability to better segment ready for something much process – if there is such a thing their daily activities. Then bigger. Throughout my life, 2. What are the biggest – when you are hired to help share their overwhelming people have told me that I am challenges facing Canadians transform a business. responsibilities with top courageous, that I am a “go executives and the companies I have my five-step proven management. getter,” that I am a leader and they run? system that includes a an achiever with a big vision One of their biggest program called Reach For 4. I understand that you for a better world. I quickly challenges is that they don’t ELITE™. The value is that have customers hundreds or understood that just owning have the time to develop the you can implement it right even thousands of kilometres a business wasn’t going to next generation of leaders. away in your business. It is away from Montreal. When be enough. I needed to go This makes executives a 12-week, result-driven, working with such clients, beyond that goal and reach for vulnerable to being practically immersive reset for top do you travel to see them in
Page 23
person or do you rely on such executives discover their blind Canadian and I work in agreement, which will replace
things as teleconferencing and spots, clarify their vision. both French and English. NAFTA. Our GDP growth
videoconferencing? That is where my genius zone Montreal has developed into forecast for 2019 remains
In today’s business resides and thus the value of an international, bilingual unchanged at 1.9% and
environment, everything my Reach For ELITE™ proven and cosmopolitan centre the new trade agreement
must be accessible through system. that is open to the world. is certainly influencing
technology and there’s no That works perfectly well our Canadian dollar. Yes,
question that technology 6. What do you least enjoy for me. I love the Montreal I am content with the
has radically changed the about your work? culture, its restaurants and current economic climate.
way companies do business, What I least enjoy is its energy. However, it is a big When it comes to the new
extend their influence and working with the effects of city and I am a country girl trade agreement, I must
connect with others. However, internal politics that hinder at heart. I have a passion for first experience it before
I don’t underestimate the an organization’s ability to horses, so I live close to them I can provide an opinion.
value of meeting face to face grow. Sometimes I become in the Eastern townships of However, the result of the
with my clients. I also like to frustrated when a company Montreal, which is less than new trade agreement can be
visit their work environment, loses its valuable employees a 60-minute drive from the predictable. Currently, 75
so I can better connect to because of the effects of city centre. Although I really per cent of our exports go
their operations. I believe its internal politics. The enjoy being part of this city’s to the U.S. and only 20 per
that meeting my clients management procedures vibrant business community cent of U.S. exports go to
in person contributes to and result-drive of the Elite and environment, I like to Canada. It is not surprising
helping me build stronger system can eliminate this type know that I can go home to a that Canada had more to lose.
business foundations and of chaos and opportunity loss quieter place when I am not at Canadian business boards
provides me with the ability very quickly. the office. are not overwhelmingly
to better understand the real concerned with global issues
challenges they are facing. 7. Is Montreal a suitable home 8. Are you content with the such as political instability,
base from which a bilingual current economic climate in climate change, terrorism
5. What do you most enjoy entrepreneur can grow her Canada? or recessions. Their main
about your work? business? After months of challenge remains the
What I enjoy the most is to Montreal is my home negotiations, our country development of leaders who
partner with executives who and I am proud to be from finally agreed to the US- are capable of driving and
may sometimes experience a this city. I am French- Mexico-Canada trade executing their strategies.
feeling of loneliness because
of the large amount of
Accept credit cards?
responsibilities they handle.
According to a Harvard
Business Review, 50 per cent
of CEOs have expressed No setup or monthly fee. 2.5% + 30c per transaction.
such a feeling at one time or
another. Such executives do Process transactions in CAD or USD without currency conversion.
not have anyone to confide
Free virtual terminal and online invoice payment processing.
their frustrations to. Although
they do have a vision of where Honest pricing with true interchange passthrough on all card types.
the company should go, and
they do understand what
needs to be done to get there,
Canada’s longest established provider
they can’t seem to find anyone of multi-currency payment processing.
who wants to challenge them
or help them step up to the www.merchant-accounts.ca
next level. I love to helpYou can also read
