Host: Colleen O'Connell-Campbell, Wealth Advisor, RBC Dominion Securities

Guests: Sonya Shorey (CEO, Invest Ottawa), Jennifer Francis (Chair, Capital Angel Network), and Julia Elvidge - Co-founders of She Boot

Episode Summary: Only 2% of venture capital flows to women-founded companies - yet women start roughly 15% of all companies. In this episode, Colleen sits down with the three co-founders of SheBoot, a national nonprofit that is tackling this gap from both sides of the table - making women tech founders investment-ready and mobilizing women angel investors to fund them. What started in 2020 with 10 investors putting in $10,000 each has grown into a national program with a waitlist of investors, $300,000 in annual investment prizes, and $54 million catalyzed in follow-on funding. The conversation covers how SheBoot's dual mandate works, the special purpose vehicle structure that simplifies the cap table, real stories of founders who have scaled from pitch competition to million-dollar raises and beyond, and why getting more women investing is just as critical as getting more women funded.

Key Takeaways

Women receive approximately 2% of venture capital despite founding roughly 15% of companies. Women founders are far more likely to bootstrap - and research shows that is often by necessity, not by choice.

She Boot was born in 2020 when the co-founders noticed women were not showing up to pitch competitions. The program now operates nationally (incorporated as a national nonprofit in 2022) with founders from coast to coast.

The model has a dual mandate - helping women tech founders become investment ready, and activating women angel investors. Both sides are essential - founders need to see women in the room when they pitch, and investors need practical, hands-on education in how to evaluate deals.

Each year, 30 investors contribute $10,000 each for a total of $300,000 in investment prizes ($150K first, $100K second, $50K third). The investment is structured through a special purpose vehicle (SPV), so only one name appears on the founder's cap table while 30 partners share in the investment.

Investors receive practical angel investing education - including writing investment memos, conducting due diligence, and evaluating data rooms - paired with more experienced investors in a mentorship structure.

The program has catalyzed $54 million in follow-on funding across its portfolio of women-founded companies.

Notable alumni include Cinareo (customer support software, raised over $1M within six months of graduating), Ayrton Energy (hydrogen carrier technology for residential use, raised $10M), The Growcer (hydroponic shipping containers growing fresh produce in temperatures as low as minus 50°C, deployed in Indigenous and remote communities), and Flutter Care (med-tech wearable to detect early warning signs of stillbirth, beginning clinical trials at the Ottawa Hospital).

50% of SheBoot founders identify as BIPOC or LGBTQ+. The co-founders are actively working to build that same diversity into the investor group.

Capital Angel Network, one of the founding partner organizations, has grown from having two women members to roughly one-third women - with a goal of reaching 50/50.

In Canada, CRA data shows 90% of women-owned businesses file as self-employed, meaning most are not incorporated and not building a sellable asset.

Solving the 2% problem takes a multi-pronged approach - more women investing, more women-founded startups funded, and real-world impact that multiplies across our economy.

If today's conversation sparked ideas for your own growth-to-exit path, book a one-on-one Wealth Gap Analysis with Colleen O'Connell-Campbell onLinkedIn or via email.

📩 Leave a five-star rating and review - it helps more founders find the show.

***

The Cash Rich Exit Podcast is brought to you by O'Connell-Campbell Wealth Management at RBC Dominion Securities.

All opinions expressed by the host, Colleen O'Connell-Campbell, and podcast guests are solely their own opinions and do not reflect the opinion of RBC Dominion Securities.

This podcast is for informational purposes only before taking any action based on information in this podcast you should consult with a qualified professional.

Colleen O'Connell-Campbell is a Wealth Advisor at RBC Dominion Securities, a member of the Canadian Investor Protection Fund.

Revenue is vanity. Profit is sanity. Cash flow is sovereignty. In this episode, host Colleen O'Connell-Campbell sits down with Melissa Houston - CPA, business finance coach, fractional CFO, and author of 'Cash Confident' - to explore why so many business owners are working hard but not building wealth. Melissa shares her mission to close the business financial literacy gap, particularly for women entrepreneurs, and explains how a few key changes in pricing, expense management, and cash flow can completely change a business's trajectory. The conversation covers the emotional side of money (including both Colleen's and Melissa's personal money stories), the alarming stats on women-owned businesses, and why understanding your numbers is the foundation for building a business that is not just profitable, but sellable. Melissa also previews Profit Buys, her AI-powered tech platform designed to put a fractional CFO in every business owner's pocket.

Key Takeaways:

Financial literacy is not optional for business owners. Your accountant, bookkeeper, and financial advisor are partners - but they do not give you permission to check out of your own numbers.

Revenue and profit are not the same thing. Melissa has seen seven- and eight-figure businesses go bankrupt because they were not managing cash well. Volume does not equal profitability.

The three changes that move the needle fastest are ensuring your pricing is profitable, managing your expenses deliberately, and understanding that cash balances and profit are two different things.

Many business owners do not know which of their products or services is most profitable - and often assume it is their best seller, which is not always the case. Promoting your most profitable offer can change the trajectory of the business.

Money mindset is a muscle, not a one-time exercise. Everyone carries a money story from childhood, and those stories show up in business decisions - from hesitating on sales to underpricing services.

The stats on women-owned businesses are sobering: of 13 million women-owned businesses in the U.S., only 1.9% generate over $1 million in revenue, roughly 68% make under $50,000 per year, less than 2% of women have a financially successful exit, and less than 2% of venture capital goes to women.

In Canada, CRA data shows 90% of women-owned businesses are filing as self-employed - meaning they are not incorporated and likely not building a sellable asset.

Whether you are a startup, scaling, or thinking about your exit, your business should be an asset that supports your long-term goals and legacy. If this episode has inspired you to rethink your exit path, book a one-on-one Wealth Gap Analysis with Colleen O'Connell-Campbell. Reach out on LinkedIn or email.

📩 Please leave a five-star rating and review - it helps more founders find the show and build their path to a cash-rich exit.

***

The Cash Rich Exit Podcast is brought to you by O'Connell-Campbell Wealth Management at RBC Dominion Securities.

All opinions expressed by the host, Colleen O'Connell-Campbell, and podcast guests are solely their own opinions and do not reflect the opinion of RBC Dominion Securities.

This podcast is for informational purposes only before taking any action based on information in this podcast you should consult with a qualified professional.

Colleen O'Connell-Campbell is a Wealth Advisor at RBC Dominion Securities, a member of the Canadian Investor Protection Fund.

Episode Summary: Forget everything you thought you knew about pension plans being just for government workers. In this episode, pension lawyer Jean-Pierre (JP) Laporte, Pension Lawyer and Founder, Integris Pension Management, joins host Colleen O'Connell-Campbell to share a series of powerful, real-life case studies showing how registered pension plans - including Individual Pension Plans (IPPs) and Personal Pension Plans - are quietly and dramatically transforming the wealth trajectories of incorporated business owners across Canada. From a 73-year-old founder who saved his family $4 million in a single phone call, to a lawyer who discovered his pension was exempt from departure tax when relocating abroad, these are stories of what happens when the right strategy meets the right advisor. JP also breaks down the seven tax deductions available through a registered pension plan, the 2020 Ontario regulatory changes that removed the biggest barriers to entry, and why the only thing standing between most business owners and better retirement outcomes is awareness.

Key Takeaways

Since December 8, 2020, Ontario eliminated provincial registration requirements for connected persons, removing mandatory contributions, locking-in rules, and provincial fees - a major change for business owners.

Registered pension plans offer up to seven corporate tax deductions, compared to the single annual RRSP contribution - including past service recognition, higher annual contributions (up to ~30% by age 64), special catch-up payments, investment management fee deductions, loan interest deductions, and terminal funding contributions for early retirement.

Family business owners can add children to the pension plan once they are employed, creating a multigenerational wealth transfer vehicle with no 21-year deemed disposition rule (unlike family trusts).

Business owners holding passive investments inside their corporation can sell capital properties to fund the pension plan, offset the capital gain with the pension deduction, and generate tax-free capital dividends - creating a "corporate TFSA" effect.

Pension assets are exempt from departure tax when a business owner becomes a non-resident of Canada, and cross-border pension income is taxed at just 15% under most tax treaties (versus 25% for RRSP withdrawals).

Upon death without a spouse, pension plan assets can be split among multiple beneficiaries (including charities), with each taxed only on what they receive - a significant income-splitting advantage over RRSPs.

Pension plan assets enjoy creditor protection in Ontario, unlike RRSPs held outside of insurance companies.

Ideal Candidates: Family business owners with multiple generations, C-suite executives earning high T4 income, and incorporated professionals (doctors, lawyers, accountants, pharmacists).

If you are an incorporated business owner

• An IPP can be a tax smart retirement engine for the right incorporated owner, but it comes with rules, admin, and costs that need to be understood up front.

• You can fund with more flexibility as you age, but access is not as instant as an RRSP unless you plan for wind-up timing and implications.

• The structure can support creditor protection and estate or succession planning in ways many founders do not consider early enough.

Book a one on one Wealth Gap Analysis with Colleen O'Connell-Campbell to pressure test whether your personal plan is aligned with your exit and retirement strategy.

📩 Leave a five-star rating and review please. It helps more founders find the show and build their path to a cash-rich exit.

***

The Cash Rich Exit Podcast is brought to you by O'Connell-Campbell Wealth Management at RBC Dominion Securities.

All opinions expressed by the host, Colleen O'Connell-Campbell, and podcast guests are solely their own opinions and do not reflect the opinion of RBC Dominion Securities.

This podcast is for informational purposes only before taking any action based on information in this podcast you should consult with a qualified professional.

Colleen O'Connell-Campbell is a Wealth Advisor at RBC Dominion Securities, a member of the Canadian Investor Protection Fund.

In this episode of The Cash Rich Exit Podcast, host Colleen O'Connell-Campbell sits down with Muneer Feeroze and Clark Steffy of Canadian Benefits Associates to unpack two powerful retirement tools for incorporated entrepreneurs: individual pension plans (IPPs) and retirement compensation arrangements (RCAs). Together, they walk through where these plans can outperform an RRSP, what "tax smart" really means in practice, and the operational realities founders need to understand before setting anything up.

In this conversation, they cover:

Who an IPP is for, and when it starts to beat an RRSP

Muneer explains that IPP contribution room increases with age, and outlines a crossover point where the IPP can become more compelling than the standard RRSP approach.

The income detail founders often miss

If you want to build contribution room, the plan is tied to T4 income rather than dividend income. This becomes part of the "prep phase" for incorporated owners who have flexibility in how they pay themselves.

The alphabet soup explained: why RCAs show up in the same conversation

They position an RCA as a way to fund retirement benefits beyond the IPP's cap, and discuss how these tools can work as a broader strategy for lowering tax burdens and boosting retirement outcomes.

Flexibility versus access: what you can (and cannot) do with IPP assets

They discuss the reality that IPPs can be funded with flexibility, but accessing the assets is more rigid unless you wind the plan up, which takes time and has costs.

Creditor protection as a strategic feature

They explain how an IPP is funded into a beneficiary trust structure, and why that can provide meaningful creditor protection relative to keeping assets inside the corporation.

What it costs to run an IPP

Unlike an RRSP, IPPs require actuarial and regulatory filings, including valuation reports filed periodically. Muneer shares a concrete annual fee example for 2025 and what it covers.

What happens to the IPP if you sell your business

They explain that an IPP needs a sponsoring corporation, and outline common paths business owners can take (including sponsorship through a Holdco, or winding up the plan). They also flag that wind-ups can trigger maximum transfer rules, which may force a portion to be paid out as taxable cash in the year of wind-up.

Family and succession planning use cases

They discuss how an IPP can be used in a family succession context, including why some people refer to it as a "family pension plan" and how intergenerational wealth transfer can become part of the strategy when a business remains the sponsor over time.

Key takeaways for incorporated founders

• An IPP can be a tax smart retirement engine for the right incorporated owner, but it comes with rules, admin, and costs that need to be understood up front.

• You can fund with more flexibility as you age, but access is not as instant as an RRSP unless you plan for wind-up timing and implications.

• The structure can support creditor protection and estate or succession planning in ways many founders do not consider early enough.

Book a one on one Wealth Gap Analysis with Colleen O'Connell-Campbell to pressure test whether your personal plan is aligned with your exit and retirement strategy.

Please leave a five star rating and a short review to help more founders discover The Cash Rich Exit Podcast.

***

The Cash Rich Exit Podcast is brought to you by O'Connell-Campbell Wealth Management at RBC Dominion Securities.

All opinions expressed by the host, Colleen O'Connell-Campbell, and podcast guests are solely their own opinions and do not reflect the opinion of RBC Dominion Securities.

This podcast is for informational purposes only before taking any action based on information in this podcast you should consult with a qualified professional.

Colleen O'Connell-Campbell is a Wealth Advisor at RBC Dominion Securities, a member of the Canadian Investor Protection Fund.

Host Colleen O'Connell-Campbell breaks down the basics of individual pension plans (IPPs) for Ontario incorporated business owners and professionals. She explains what an IPP is, who it fits best, and why it can be a powerful tool for turning corporate success into predictable personal retirement income as part of a cash rich exit strategy.

Episode overview

If you are incorporated in Ontario, this is a practical primer on how an IPP works as a defined benefit pension plan set up by your corporation. Colleen covers why IPP contribution room can outpace RRSP room after age 40, how contributions are generally tax deductible to the corporation, and how IPP planning supports personal income clarity after a sale or as part of succession planning.

What you will learn

What an IPP is, in plain english, and how an actuary sets the funding math under Canadian rules

Why IPPs can allow bigger deductible contributions as you get older, especially after age 40

How IPP contributions move value from corporation to personal income, in a structured way

The common fit profile (Ontario corporation, T4 income, age 40–71, profitable business that can fund contributions)

How IPP funding can include current service, past service, make-up contributions, and terminal funding near retirement What your options can be at retirement or if you sell (start pension income, commute value, or annuitize)

The tradeoffs: IPPs are not "cash jars," and they come with cost, complexity, and an ongoing contribution commitment

Key highlights

Why IPPs show up in exit planning

Colleen frames IPP planning as part of the "personal income clarity" that founders want after an exit, while still interacting with tax strategy and transferable business value decisions (including how you pay yourself).

Governance and guardrails

An IPP sits inside a trust structure with investment rules and periodic actuarial valuations, adding oversight designed to keep the pension on track.

Family and legacy considerations

Colleen notes you can design a multi-member IPP that includes a spouse and adult children who actually work in the business and receive t4 income, with survivorship dynamics that can support intergenerational planning.

Connect with Colleen O'Connell-Campbell on LinkedIn. Book a one-on-one wealth gap analysis with Colleen to discuss whether an IPP fits your exit timeline and plan.

Subscribe on YouTube here: https://www.youtube.com/@oconnellcampbellwealth and follow on your favourite podcast platform, and leave a five star rating and review to help more founders find the show.

***

The Cash Rich Exit Podcast is brought to you by O'Connell-Campbell Wealth Management at RBC Dominion Securities.

All opinions expressed by the host, Colleen O'Connell-Campbell, and podcast guests are solely their own opinions and do not reflect the opinion of RBC Dominion Securities.

This podcast is for informational purposes only before taking any action based on information in this podcast you should consult with a qualified professional.

Colleen O'Connell-Campbell is a Wealth Advisor at RBC Dominion Securities, a member of the Canadian Investor Protection Fund.

It's time for an annual tradition on The Cash Rich Exit Podcast: the Fun Frank Advice montage.

In this special episode, host Colleen O'Connell-Campbell curates a fast-moving mashup of "wisdom, wit and wonderfully unfiltered moments" from this year's guests.

It's designed to be easy to consume when you're driving, between meetings, or out for a walk. This montage is both a recap of the year and a highlight reel of the mindset shifts, practical realities, and straight talk leaders wish more founders heard earlier.

Colleen also shares a key message that anchors the show: every business owner will exit, and the real question is whether yours will be intentional.

She frames a well-planned exit as more than a transaction. It can be a transformation for your family, wealth, and life after the sale.

What you'll get from this episode is a quick, high-signal listen that helps you:

• pressure-test how intentional your current plans really are

• pick up patterns and principles that apply across industries

• hear how experienced operators think about preparation, risk, and legacy

Also announcing a new space to watch Colleen! The Cash Rich Exit Podcast has expanded to YouTube. You'll find video versions of recent interviews, plus new conversations and content to help you plan, prepare, and profit from an intentional cash-rich exit. Please subscribe here: https://www.youtube.com/@oconnellcampbellwealth

As you hit play on this episode, please leave us a 5-star rating and review to help the show reach more founders and CEOs.

***

The Cash Rich Exit Podcast is brought to you by O'Connell-Campbell Wealth Management at RBC Dominion Securities.

All opinions expressed by the host, Colleen O'Connell-Campbell, and podcast guests are solely their own opinions and do not reflect the opinion of RBC Dominion Securities.

This podcast is for informational purposes only before taking any action based on information in this podcast you should consult with a qualified professional.

Colleen O'Connell-Campbell is a Wealth Advisor at RBC Dominion Securities, a member of the Canadian Investor Protection Fund.

"Too Much Money Chasing Too Few Good Businesses" - Candid Insights from M&A Veteran Chad Morissette

This episode dives deep into what actually drives a successful business sale - from the emotional readiness of the founder, to internal due diligence, to navigating PE firms and family offices.

Key Highlights

Chad's journey from tech entrepreneur to M&A specialist

The difference between Main Street vs lower middle-market businesses

Why personal readiness is more important than business readiness

The 2-year preparation window that can make or break a deal

Why most owners underestimate due diligence by a mile

The value of net proceeds analysis - and why it prevents last-minute deal panic

The types of companies buyers are fighting over

Why too many businesses are owner-dependent and therefore discounted

The emotional roller-coaster of selling - and how to psychologically prepare

You'll walk away with a clear understanding of:

✔ How to make your business more attractive to buyers ✔ What PE firms actually look for ✔ Why having your team, not just your finances, ready matters ✔ What it really feels like to sell a company - as a human being, not just a founder

Fun Frank Advice from Chad

"It's an emotional roller coaster. It is full of surprises. Just keep your eye on the prize. Focus on the payday."

In this episode of 'The Cash-Rich Exit Podcast', host Colleen O'Connell-Campbell welcomes back serial entrepreneur and M&A advisor Scott Duke, founder of Business Succession Group. Scott talks about his latest innovation - The Value Acceleration Calculator (VAC) - a practical, data-informed tool to assess sellability, estimate value, and identify key levers to increase enterprise value over time.

This conversation covers:

• Why 80% of businesses never sell, and why most founders never realize the enterprise value they hoped for.

• How the VAC can score your business' sellability and identify where risk lives inside your operations.

• The three levers every founder must understand: revenue, profit efficiency, and multiples - and how each affects your future exit.

Key Highlights

Most businesses aren't sellable in their current state. Scott explains that many founders assume every business can be sold at some price - when in fact, buyers will simply walk away if the future cash flow risk is too high.

Sellability comes down to risk reduction. The most critical factor? Dependence on the owner. If a founder is the primary relationship-holder, salesperson, or decision bottleneck - buyers see future cash flow uncertainty.

Future cash flow is everything. Buyers don't buy past success - they buy the probability of future earnings repeating. Historical financials are just the rearview mirror.

Three levers drive valuation:

1. Revenue

2. EBITDA efficiency ("how many pennies you keep per dollar")

3. Multiple

Scott emphasizes that many owners obsess over revenue (the "vanity number") rather than profitability and valuation mechanics.

Energy matters. A founder's personal capacity to implement change can determine whether the strategy should be: a buildup to sale, or a multi-year harvest of cash flow instead.

You can request the Value Acceleration Calculator by contacting Colleen O'Connell-Campbell directly via Linkedin

If this episode sparked your curiosity about:

• increasing enterprise value

• reducing exit risk

• preparing for a sale in 3-10 years

• or planning a personal Cash-Rich Exit

Reach out to Colleen O'Connell-Campbell for a 1:1 Wealth Gap Analysis.

And don't forget to follow and rate the podcast - five stars appreciated!

***

The Cash Rich Exit Podcast is brought to you by O'Connell-Campbell Wealth Management at RBC Dominion Securities.

All opinions expressed by the host, Colleen O'Connell-Campbell, and podcast guests are solely their own opinions and do not reflect the opinion of RBC Dominion Securities.

This podcast is for informational purposes only before taking any action based on information in this podcast you should consult with a qualified professional.

Colleen O'Connell-Campbell is a Wealth Advisor at RBC Dominion Securities, a member of the Canadian Investor Protection Fund.

In part two of this insightful two-part conversation, host Colleen O'Connell-Campbell reconnects with Elizabeth Kilvert, founder of 'The Unrefined Olive', to go deeper into how she built, grew, and ultimately exited a purpose-driven business.

Elizabeth shares her candid reflections on:

• Transitioning from founder to seller - and how she knew the timing was right.

• The emotional side of stepping away from a business built around community and values.

• How staying connected to purpose helped her navigate both growth and exit with integrity.

• What she learned about leadership, legacy, and letting go after years of being deeply hands-on.

This episode highlights the rarely discussed human side of business transitions - what happens when a mission-led founder has to hand over the reins, and how to do it in a way that preserves both value and vision.

If you've ever wondered how to make sure your exit aligns with your personal and professional purpose, this episode is a must-listen.

If you haven't heard it yet, catch Part 1 of this conversation (Episode 333) for the full origin story of 'The Unrefined Olive'.

Connect with host Colleen O'Connell-Campbell on LinkedIn Book your complimentary Wealth Gap Analysis with Colleen to understand how your business values translate to enterprise value.

If you enjoy this conversation, please ⭐ leave a 5-star review. Your feedback helps the show reach more founders preparing for their own cash-rich exit.

***

The Cash Rich Exit Podcast is brought to you by O'Connell-Campbell Wealth Management at RBC Dominion Securities.

All opinions expressed by the host, Colleen O'Connell-Campbell, and podcast guests are solely their own opinions and do not reflect the opinion of RBC Dominion Securities.

This podcast is for informational purposes only before taking any action based on information in this podcast you should consult with a qualified professional.

Colleen O'Connell-Campbell is a Wealth Advisor at RBC Dominion Securities, a member of the Canadian Investor Protection Fund.

In this episode, Colleen O'Connell-Campbell sits down with Elizabeth Kilvert, the founder and owner of The Unrefined Olive, an award-winning olive-oil and balsamic tasting bar in Ottawa.

Elizabeth shares how she transitioned from a career in environmental policy to running a thriving retail business rooted in quality, sustainability, and community connection. She and Colleen unpack the realities of small-business ownership - from managing risk and growth to understanding what a "cash-rich" exit looks like when your brand is deeply personal.

Key Highlights

From public service to entrepreneurship: How Elizabeth took a leap from government to business ownership and built a loyal following from scratch.

Lessons in resilience: The role of adaptability and creativity when facing economic changes, global supply-chain shifts, and market pressures.

Community over competition: Why Elizabeth believes relationships - not just revenue - define a business's long-term success.

Defining legacy as a founder: What it means to build something that reflects your values, supports local economies, and still allows you to plan for the next chapter.

Preparing for transition: Elizabeth's reflections on creating optionality - how to design a business that can run, evolve, or sell on your own terms.

🎧 Tune In To Learn

• How to apply a mission-driven lens to small-business ownership

• Why emotional connection can still align with financial value

• What founders can do early to create transferable, resilient businesses

If you're an entrepreneur who wants to grow your company with both heart and value, this episode is for you.

💬 Connect with Colleen

If you're a Canadian business owner planning your own cash rich exit, it's never too early to start.

Connect with host Colleen O'Connell-Campbell on LinkedIn

Request a complimentary Wealth Gap Analysis to see where you stand on your exit timeline

🎧 Subscribe and Share

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