BCBusiness

BCBUSINESS.CA JULY/AUGUST 2017 BCBUSINESS 113 "This was a long-term learning and growing process," he says of the busi- ness he started in 2006. "There were six years where I was kind of just skipping along—making mistakes, learning from them, and always trying to be honest and accountable for my actions." Many contractors struggle with paperwork, a shortcoming that creates budgeting errors involving pricey materials and labour. Wainwright refused to have his customers pay for faults. In construction, miscalculations can be costly, he says. "If I ever do any- thing wrong, I'll pay for those mistakes. But when you're making a lot of mis- takes learning, it doesn't become very pro‚table." All entrepreneurs face a „ood of chal- lenges from the moment they start a business, and streams of newer ones as their companies grow. Many business owners learn their ‚rst lessons the hard way, like Wainwright did, through doing and messing up. Family and friends usu- ally o†er whatever advice they can. But sooner or later, most entrepreneurs ‚nd themselves in need of outside expertise to guide them to continued success. Thankfully, a wide assortment of peo- ple and organizations are ready to pro- vide help. Informal sources of advice, like peers in networking circles, are usually the closest at hand. Business associations and government-supported agencies pro- vide more structured support. And of course, there are paid consultants who advise on any challenge or problem a company may encounter. The tricky part is ‚nding the right advisers to suit your situation and needs. From starting a business to building a network Small Business BC o†ers education and advice to small businesses as they start and grow. It's a particularly good place to learn the basics. If you're ‚guring out how to register your company, get licensing or make a business plan, this provincial government–supported agency is for you. New clients are o†ered a free assessment to sort out where they're at, and what education and advice they may need. "Financing is our most common topic, with most people asking where to get it, how to get it and why lenders won't give it," says Bridget Field, Vancouver-based client services manager at Small Business BC. Market research is another critical issue that many clients struggle with. Some of Small Business BC's seminars and services are free. Its paid services are designed to be a†ordable. Seminars on topics like marketing, accounting and sales cost from $39 to $69. A business plan coaching and review service is avail- able for $299. For $49, entrepreneurs can sit down for a 30-minute consultation with industry experts on topics like intel- lectual property law, shipping or human resources, through the agency's Ask an Expert program. Once you've got your wheels in motion, building a robust, trustworthy network will be critical throughout the life of your business. "When you have almost no network, it's not just hard for you as an isolated individual, it's hard to grow your business," says Neil Belenkie, whose two-year-old company, The $2000 Coffee, helps businesses ACCELERATORS, INCUBATORS AND OTHER SUPPORT ORGANIZATIONS Business accelerators and incubators are green- houses for seedling start- ups, and B.C. is home to a growing number of them. Many are sector-specific; some are not. All surround budding entrepreneurs with mentorship and peer support. The Road to Good Advice Consider making these stops part of your journey FRIENDS AND FAMILY They love you and want the best for you. When you're starting to look for advice, reach out first to the people you can trust most. SMALL BUSINESS BC Need help with the basics? This government- backed agency offers affordable seminars and consultations to help you make a business plan, reg- ister your company and research your potential market. PAID HELP: consultants and other professional service providers You may be an expert at what you do, but consultants are experts at offering business advice. Ask people in your network to point you to pros who gave them help they valued. Choose advisers who have demon- strated expertise solving the exact problems your business is facing–and know the potential pitfalls you may not see. Do you run a manufacturer looking to streamline its supply chain? An IT firm that needs counsel on acquiring a rival? Find an adviser who has done just that for a similar company. YOUR PROFESSIONAL NETWORK Get to know experts and mentors in your field by connecting with industry asso- ciations, entrepre- neur meet-ups and business networking groups. The more smart people you know, the better the advice you'll get.

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