SMALL BUSINESS WEEK REFLECTIONS

As I reflect on Small Business Week this past week, I think about the many amazing small businesses and their owners I’m surrounded by that I get to do life with. From businesses within @The Light House Cowork, to throughout the Downtown District - Leduc Downtown Business Association, to other The Leduc, Nisku & Wetaskiwin Regional Chamber members in the region including Leduc, Nisku, Wetaskiwin, Devon, to family who have businesses… the list goes on. I also consider the incredible organizations that support small businesses in our area like the board of the Downtown Business Association and of course for my amazing Chamber team, the board members, and members.

This past week during small business week The Chamber held events in Leduc and Wetaskiwin with panels of small business owners and I heard so so many nuggets of wisdom from them. Here are some of my key takeaways from the panel discussion in my own words and my thoughts:

1- There was several discussions about staffing and how to treat team that was such a great reminder of why small businesses really add so much value to our communities. So many small business owners really care about their team like family and they treat them like it. It was so refreshing to hear and a great reminder about the things we can do as small business owners to treat our team well - because when you take care of them they will in turn be able to help take care of your business.

2-“When they say it takes 3 to 5 years to really get a small business going, that’s true.” I feel this deeply. When I first started The Light House Cowork, I thought I could do better than that—and I probably could have—but then COVID happened. We definitely had ups and downs at The Light House Cowork months before I saw profit and months where I did but then something else would come up. But truly at that five year mark, I really felt like we had a turning point and I could breathe a little. A turning point where leads and sales started to flow in that I had been working on for years. People who were just coming in naturally on their own and looking for exactly what we were offering. People who were coming in who walked in and right away understood the vision and what I have been trying to create for the last five years. So if you are still feeling that struggle and pinch please know you aren’t alone - don’t sit in it (and see my next my points)

3- Running a business is not for the faint of heart; it requires much more work to start and maintain your own business than to work for someone else. If you think it is going to be easy you are kidding yourself - if you think those first years will offer you work life balance you are probably wrong (depending on your business and the goals you have of course).

4- Given the hard work involved in running a small business, it’s crucial to soul-search and understand your "why"—the reason you are starting your business and what will keep you going when things get tough. You MUST have a passion for it. When there’s no money coming in and it feels like everything you try isn’t working, what is your reason for persevering instead of throwing in the towel? You need to be able to go back to your why when you are wondering if you made a giant mistake (because you will).

5- Get Others Around You! To existing small business owners: build your network and surround yourself with fellow entrepreneurs. Who are your people you can call to run an idea or talk through a problem - who will challenge you to come up with a creative solution. If you’re looking for connections, I would love to help! Even if I might not be your ideal person due to being in a different industry or because you’ve already surpassed me in knowledge (and should probably be mentoring me), together we can find someone who is right for you at whatever stage you’re at. To all of you small business owners and even those of you with a business idea, I encourage you to reach out. Through my role with the Chamber and our Start Up Leduc Wetaskiwin Regions I can help you with knowing all the details to think through before you get start to see challenge your idea and make sure it is feasible before you overly invest. I can help you with free tools and resources and help you create a network of supportive individuals who can encourage and support you on this journey. It’s not easy, and it’s certainly not for the faint of heart, but it is immensely rewarding.

If you’ve made it this far in my post I also want to say that I am also thinking about the amazing small businesses within The Light House Cowork. There are phenomenal people—owners and team members—whom I am grateful to work alongside. I am honoured that The Light House Cowork gets to be a resource to provide them the space they need to inspire their lightbulb moments and see their business goals come true.

Through my work at the Chamber as Director of the StartUp initiative and as Downtown Director, it is truly an honour to walk alongside these small businesses. Helping them figure out what their vision looks like, how to adapt, and how to handle challenges is incredibly rewarding. Sometimes being a listening ear during tough times is all we need. And sometimes I get problem solve with them and reassure them as a fellow business owner. So to all of you out there I want to say

“I see you you; you’ve got this; Keep going!”

Amber