I’ve missed more than 9,000 shots in my career.  I’ve lost almost 300 games.  Twenty six times, I’ve been trusted to take the game winning shot and missed.  I have failed over and over again in my life.  And that is why I succeed.

- Unknown

I ran into a friend of mine a few weeks back.  The last time we had talked, he was still finishing up his PhD program in Political Science. As he explained, since our last discussion, he had grown tired of academic life.  He put his doctorate on hold and wanted to get some real work experience.  The tricky part was finding a related job in his field.  Teaching jobs were hard to come by and the current recession definitely didn’t make things easier.

With his bills piling up over the months, he did the one thing that he thought would bring in cash while giving him good leads for future teaching positions:  he became a cleaner at a college where he planned to one day teach.  It was an unusual job search method to the say the least.  However, he was already making progress.  He had apparently already met some big names in the college including the dean of the school, who was slightly confused when he found himself having an academic discussion with the same guy who empties his trash in the evening.

This encounter reminded me of what many entrepreneurs have to go through before seeing light at the end of the tunnel.  Take Mark Cuban for example, the billionaire technology entrepreneur who is now the owner of an NBA franchise, the Dallas Mavericks.  He left his first job after college not too long after he started (the boss did not appreciate his initiatives).  He then shared a 3 bedroom house with 5 of his friends for a few years while working at a computer sales company.  He was eventually fired for refusing to vacuum the place after a long shift.  His first taste of real success came after he launched a computer company with a former client more than 7 years later.

There’s no question that our society tends to glamorize success.  However, we often do it to the point where we completely forget (rather ignore) what the person had to go through before reaching his or her destination.  And more than likely, they were successful not because they were necessarily the brightest star in the field.  Rather, it was because they had a vision and were willing to endure everything along the way to realize it.  They were able to constantly re-adapt to changing circumstances and re-shape their original idea until they found the magical formula that worked.   Successful entrepreneurs are not flawless creatures by any means.  But one thing that new entrepreneurs should learn from these people is that the beginning is never easy.  One has to persevere and learn from the many setbacks along the way.

Perseverance is not something they teach in school.  You can have the greatest business plan in the world, but once you actually start your business and the roof over your head depends on the monthly revenues, it’s a whole new ball game.  So this post goes out to my friend, the PhD candidate who is carefully planning his next move while taking out the trash.  It also goes out to the countless people out there brave enough to let go of the daily comforts in order to pursue their passion or an exciting new opportunity.

By the way, the quote at the beginning of the post was not exactly by an unknown.  It’s by Michael Jordan, arguably the greatest basketball player in history.  If someone like him never had the luxury of avoiding setbacks, neither should the rest of us.

All these facts in light of a recent warning by the Competition Bureau that fraudulent activity tends to increase during recessions.  Small and medium sized businesses are especially vulnerable since they tend to be more aggressive in cost cutting measures in an economic downturn.

Don’t take security lightly.  Whether it means changing your passwords or encrypting your data, do what you can to protect your business, even if it means spending a few extra dollars.  It will pay off in the long run.

1. An increase of the small business corporate income tax threshold from $400,000 to $500,000.
2. A temporary CCA allowance rate of 100% for computers purchased after January 27, 2009 and before February 1, 2011.  In addition, there will be an extension of 2 years of the temporary 50% CCA rate for any investment in manufacturing or or processing machinery and equipment.
3. Greater access to credit through increasing loan amounts made available by Export Development Canada and the Business Development Bank of Canada.

I mentioned that although French was not a barrier for me (having spent part of my childhood in Montreal), there was a definite need for a networking group catering to people who are not bilingual.  A few of us took the lead and the end result was Edge Networking.  Though we conduct our events in English, it is by no means restricted to only English speaking members of the community.  Our platform has the following goals:

1. Networking:  This is an important part of being an entrepreneur.  The bigger their network, the greater the resources they can tap into when something goes wrong.  Many start-ups are so focused on their goals or their day to day operations, they completely forget about expanding their contacts through networking.  The rule of thumb I use is to go to at least one networking event every week.  Furthermore, I usually research the events  beforehand to make sure I’m not about to waste my time (e.g. ‘How to become a millionaire’ workshops).
2. Mutual support:  Starting a business is definitely the road less taken when it comes to career moves.  Often times, it can be a very lonely road where all we have at the end of day is a vision of what we’re trying to create.  Having the chance to exchange with other entrepreneurs gets rid of some of this solitude.  It also helps to get out of our shells every once in a while to see what the rest of the world is up to.
3. Sharing resources:  Most start-ups go through similar growing pains (e.g. lack of financing, qualified personnel, sales, etc.).  Even if another start-up is not in my industry, they can shed some light on how to tackle my problems.  Networking groups are also an excellent source of referrals (e.g. bankers, lawyers, accountants, etc.).  Personally, I have never used the Yellow Pages to hire a professional.  I always go with a personal endorsement from someone I know.
4. Access to professionals:  Networking groups for entrepreneurs sometimes forget that to be a successful entrepreneur, you need to have a solid team around you.  I read an article not too long ago that one of biggest reasons why many small businesses fail is that they hire professional help too late in the game.  Two experts you want immediately on board is a good accountant and a good lawyer.  They will give you valuable advice at one of the most critical stages of a business:  its start-up.  Edge will work to ensure that its events have a good mix of professionals that provide the valuable support services that can often  make or break a business.
5. Promotion of members:  Through our platform, we hope to provide ways for our members to market themselves.  A simple example is by creating a member directory with a brief description of what the company does.

Though we are still a new group, I think we gave ourselves a great start with our launch.  People were very excited and gave us a lot of good feedback.  The challenge going forward will be to keep this momentum going.   For those already on the mailing list, you’ll receive an email in the next few weeks about our next event.   For those who want to be added to the list, just leave me a comment saying you’re interested.  See you at the next event!

Name:  Adil Rahman

Company:  Second Cup Ltd.

Website:  www.secondcup9017.com

Location:  Ottawa, Ontario (St-Laurent Shopping Centre)

How long have you been in business?  Who is your target customer?

I’ve been in business since 2006.  Anyone passing by my café is a potential customer.  A special attention is given to impulse buyers as they’re a group that is willing to spend if the pitch is made properly.

How did you raise the start-up cash?

Years of small retail and wholesale operations in Ontario and Quebec.  I operated small kiosks and carts in shopping malls selling specialty items.  I was also involved in wholesaling unique products imported from the far east.  With the earned revenue, I acquired a Second Cup franchise.

What makes your business unique?

Genuine, fast, and consistent service.  My staff are well trained to deliver excellent customer service and a world-class product.

Why did you decide to start your own business?

I was looking for a sense of achievement.  I also didn’t enjoy the corporate life much and was looking to get out of the rat race.  I was looking for exciting projects and the freedom to work when I wanted.

What is the best part about being an entrepreneur?

Taking the road less traveled.  Not knowing what to expect but being ready for the challenge.  The freedom to use all your knowledge, resources and skills to the fullest.   Financial and personal rewards.  Taking control of your destiny and realizing your vision.

What is the worst part of being an entrepreneur?

Being alone in the dark.

What are a few lessons you have learned?

You will need to make sacrifices.  You will fail, come short of expectations, be stressed, and possibly, betrayed.  Anything and everything can and will go wrong.  Your ability to rise every time you fall is what will make you a successful entrepreneur.

What advice would you give to an aspiring entrepreneur?

Find something you love doing and excel at it.  Be aggressive.  Differentiate yourself by being unique.

A lot of entrepreneurs hesitate giving up established careers to strike out on their own.  What advice would you give them?

If you’re always complaining about your job, looking at the clock and not laughing most of the time, then your job will not make you happy.  As the saying goes, better to have tried and lost than never to have tried at all.

I thought about it again when I was at a networking event this past week organized by the Junior Chamber of Commerce, an association that caters to young professionals in their 20s and 30s.  There were about 50 people in attendance.  Though I didn’t stay long, I met two young people who made a strong impression.  One was Guillaume, a 26 year old who launched his marketing consulting company at the age of 21.  His company, 724 Marketing (www.724marketing.ca), specializes in the student crowd (which makes perfect sense since I’m sure this is a market he knows very well from his own experiences and circle of friends).  Sales must be good since he has a few full time staff already on board.  I also met Amelie, another twenty something, who, along with a few partners/friends, launched their own graphics design company called Magma Design (www.magmadesign.ca).   She checked out my business card and I’m sure she wasn’t very pleased.  My rather simplistic card (courtesy of Vista Print) paled in comparison to her colorful, slim, eye catching card.  Amelie’s story was a little different.  She did the whole 9 to 5 thing for a few years and ventured slowly on her own as her side business grew.

This just goes to show that creativity is not restricted to a particular region, group of people, or whatever other categories people want to use.  It’s anywhere and everywhere.  What’s more, I have a lot of faith in the young people of my generation, the so called ‘Generation Y’.  We traditionally get a bad rep in the media for our sense of entitlement, our impatience, our unusually high expectations, and our constant search for meaning behind a task.  But on the flip side, we are also passionate, highly motivated, technologically savvy, and more socially conscious than previous generations.

When we think of entrepreneurship, we typically think of the bold, courageous individual who, without a penny, overcomes great obstacles in order to create something of value.  I’m sure there are many examples of this ‘rags to riches’ type story, but I’m convinced that ‘flying solo’ is not the best approach.

The fact is, entrepreneurs, whether they want to admit it or not, are at least partially subsidized by public money.  Imagine trying to set up a business in a place with no financial backing, crumbling infrastructure, little or no public transportation, no access to adequate health care, limited means of communication, etc.  I don’t care how brilliant you are.  This lack of public investment will take its toll on your plans.  Here are some of the things that have helped me in the last few months as I ventured into the world of entrepreneurship in Montreal, Canada:

Public Transportation:   The public transportation system in Montreal is an absolute gem.  I’ve been without a car since my last one was stolen earlier this year.  So for the first time, I was dependent on  public transportation.  I was under the impression this would slow me down.  Someone starting a new business has to spend a lot of time on the road, whether it’s to pitch their ideas, get advice from industry players, seek financial backing, check out competitors, or just to network.  The metro system in Montreal made all this possible.  In fact, I think it saved me more time (very fast and efficient) and money (unaffected by high gas prices, parking /speeding tickets, etc.) in the long run.

In cases where I absolutely needed a car, I used my handy subscription to Communauto (www.communauto.com), which allows me to rent a car for, let’s say, 2 hours for around $1.50 an hour and a minor fee per kilometre.  The company recently created a partnership with the City of Montreal whereby the $500 annual subscription fee is paid for by the city, provided the user agrees to use public transportation for a year.  (On an unrelated side note, Montreal will soon be launching a public bike-sharing system called ‘Bixi’, which is a similar concept to Commnauto, but applied to bicycles.)

Grants & Loans:  I’ve realized that being a twenty and thirty something is one of the best times to launch a business.  There are numerous grant and loan programs catering to this group from the ‘Self Employment Program’ to the Mayor’s Foundation (www.fmmj.ca), the Jeunes Promoteurs Program, and the Canada Youth Business Foundation (www.cybf.ca).

Free Services:  There are several non-profits that provide valuable services to entrepreneurs at little or no cost.  My favorites in the Montreal area are YES Montreal (www.yesmontreal.ca) and SAJE Montreal (www.sajemontrealcentre.com).  Big kudos to YES Montreal for their informative workshops and their hands on involvement at all stages of the business development process (idea generation and evaluation, writing a business plan, mentorship opportunities following the launch, etc).

Free Information:  This is crucial in the start-up phase.  There are several valuable information sources available to entrepreneurs.  One of my favorites is Info Entrepreneurs (www.infoentrepreneurs.org).  I’ve used this centre extensively for market research, competitive analysis, and legal aspects surrounding my business.  Believe it or not, they even have an online service where I can send them a request to research a particular issue, and they get back to me within a few business days with the answer.  Did I mention it’s free of cost?

Another free resource is the public library.  I spend a lot of time at the national library in Berri-Uqam (www.banq.qc.ca) doing market research, reading newspaper articles, etc.  The library also has online resources with off-site access to many of its powerful information databases.  I sometimes also take appointments with their ‘Information Specialists’.  As the name suggests, they are information rich and there to guide people in their research needs.  Speaking of libraries, McGill University has an excellent business library (www.mcgill.ca/howardross).  Their powerful resources were recently made available free to the public.  I recently found a pair of reports by the Conference Board of Canada, free of cost, which would have normally cost a few hundred dollars to purchase.

So there you have it.  These are some of the ways my dreams and aspirations of being an entrepreneur are ’subsidized’ by you (and me), the taxpayer.  Although some of the services mentioned above are particular to Montreal, you are likely to find something similar in your city and I can’t stress enough their importance.  It can be the deciding factor between for example, someone unsure whether to stay at their current unfulfilling job or instead, take the risk to launch an exciting new venture they’re passionate about.  The entrepreneur, not to mention society overall, is better off with the latter choice.  Cities should do all they can to promote and encourage the small entrepreneur.  It’s an important source of creativity, jobs, and economic wealth.  As the saying goes:  “A mighty flame follows a tiny spark.”