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Weldon LeBlanc
By Weldon Leblanc
“Every sale has five basic obstacles: no need, no money, no hurry, no desire, no trust.” – Zig Ziglar
The challenges of running a small business are enormous; the rewards are often greater. At least this is what I’ve been told… many times… by many people.
I am always impressed when I meet someone with a fresh idea and the vision and passion to bring that concept to market. Last night at the Kelowna Chamber’s Business After Hours I chatted with someone starting a new company (it will be launched in the next few weeks).
We talked about the challenges of getting to this point, but noted that it was so nice to have the flexibility of doing it in your own timeframe; as opposed to working on a corporate agenda. Oh, the life of an entrepreneur.
In doing research on common challenges of setting up, or even running, a small business I came across five common themes: not having sufficient financial resources, ineffective branding/marketing, not looking at the big picture, trying to do too much, and lacking business skills.
Stats Canada recently released a report call “Key Small Business Statistics” (special edition) which explores the characteristics of businesses in Canada. There are just over 1 million businesses employing people in Canada; there are 168,000 (16% of the total) in British Columbia.
Throughout Canada, 75% of the businesses employ 10 or fewer people. This statistic closely mirrors the Okanagan economy.
In the Okanagan the traditional economic drivers are sectors such as tourism, construction, forestry, agriculture, and manufacturing. Add to this base the stability of the institutional sector (government, health care, and education institutions). Then, add the emerging economic sectors such as technology and film industry. It is this economic diversity that has carried us through the recent economic downturn.
But at the very heart of this economy are the entrepreneurs. This sector is undoubtedly the heart and soul of any economy. The Okanagan is an entrepreneurial economy with a strong focus on the ‘business to business’ service sector.
Not too many people will say the life of an entrepreneur is easy, as a matter of fact it can be absolutely terrifying. Bottom line is you need a saleable product, the resources to bring it to market, and the desire and skills to overcome the obstacles. And it all comes down to you to make it work.
Weldon Leblanc is the manager of the Kelowna and District Chamber of Commerce.
