The Finance Cafe

In this episode Shauna sits down with Melissa Houston, founder of She Means Profit, to discuss 5 tips on managing your cash flow in your business as a women entrepreneur. Did you know that approximately 7,000 businesses go bankrupt every year in Canada? Surprisingly, 82% of small businesses that fail, do so due to poor cash flow management. However, as entrepreneurs, we have the power to change this statistic by improving our cash flow management. With the right tools and knowledge, we can avoid the pitfalls of poor cash flow and keep our businesses thriving. Learn about what cash flow is, why it’s important that we monitor cash flow and not just that balance in our bank account, where you can find this information on your financial statements, and of course Melissa’s top 5 tips on managing your cash flow - plus a BONUS tip! 

Melissa is the author Cash Confident, An Entrepreneur's Guide to Creating a Profitable Business, and the founder of She Means Profit. Melissa is a CPA and Finance Strategist who helps business owners and high income earners build their wealth. A regular contributor at Forbes and other publications, Melissa is passionate about teaching others about money management.

Resources

Episode Blog: https://thefinancecafe.ca/5-tips-on-managing-your-cash-flow/

Breakeven Reference: https://www.visa.practicalbusinessskills.com/resources/business-templates

Connect with Melissa

Book: https://melissahoustoncpa.com/cash-confident-book/ 

Website: https://shemeansprofit.com/ 

Sponsor

For more resources and information for women entrepreneurs be sure to connect to our incredible podcast sponsor the Women Entrepreneurship Knowledge Hub 

Connect with Us

Website: thefinancecafe.ca/ 

Instagram: @thefinancecafeofficial 

LinkedIn: The Finance Cafe 

Learn more about our financial literacy program designed specifically for you and don’t forget to use code PODCAST10 to save 10% off at www.thefinancecafe.ca/   

In this episode, Shannon sits down with Stephanie Andrew, founding partner of Women’s Equity Lab to discuss how Women’s Equity Lab is creating opportunities to invest in more women-led companies and bring more women investors to the table. Stephanie shares how WEL is breaking barriers for women founders and women investors, what exactly venture investing is and how it’s different from borrowing money, myths around VC investments and How more women can get involved as early-stage investors.

Stephanie Andrew is the Women’s Equity Lab National Managing Director, Managing Partner and Co-Founder WEL Victoria. The Women's Equity Lab was first launched in late 2017 in Victoria, BC by 23 founding partners with the support of the National Angel Capital Organization, (NACO), the Capital Investment Network (CIN) and Osler, Hoskin and Harcourt, LLP.

WEL now consists of a powerful community of over 150 women investors from around the world managing a growing portfolio of investments which should reach about 40 company investments by the end of the year. Over 70% of WEL investments are in women-run and women-led businesses. There are funds operating in BC, Manitoba, Ontario, New Brunswick, Newfoundland and Labrador, Prince Edward Island, and Nova Scotia as well as Silicon Valley which also accepts investors outside of North America.

Each group has their own investment thesis and connects closely with the businesses in their region while also making investments across Canada. The groups do not only provide capital to the companies that they invest in but each investment is also backed by a strong network of women who are able to act as advisors, connectors and champions of the investee.

Across regions WEL teams network and share deal flow, education, expertise and resources to support our investees and our communities.

Resources

Episode Blog: https://thefinancecafe.ca/leveling-the-playing-field-in-venture-investing/

Connect with Women’s Equity Lab

Website: https://womensequitylab.com/ 

LinkedIn: https://www.linkedin.com/company/women-s-equity-lab/ 

Instagram: https://www.instagram.com/womens_equity_lab/ 

Sponsor

For more resources and information for women entrepreneurs be sure to connect to our incredible podcast sponsor the Women Entrepreneurship Knowledge Hub 

Connect with Us

Website: thefinancecafe.ca/ 

Instagram: @thefinancecafeofficial 

LinkedIn: The Finance Cafe 

Learn more about our financial literacy program designed specifically for you and don’t forget to use code PODCAST10 to save 10% off at www.thefinancecafe.ca/   

In this episode, Shauna sits down with Jen Rogers, the co-owner of Wild Winds Brewery to discuss business collaborations. Jen shares the landscape of collaborations in the craft beer industry including some collaborations she’s formed, the benefits of collaborating as a business, key questions to ask when considering a collaboration, how to approach a company to propose a new collaboration, and more. 

Jen wears multiple hats as a brewer, website designer, social media content creator, sales rep, can label designer - summed up, she's the Chief Awesome Officer. She graduated with distinction from the Olds College Brewmaster Program in 2019, is a Certified Cicerone, and loves brewing beers that are true to style. Her brewing experience includes Village Brewery, Last Best Brewing and Distilling, and Railyard Brewing. She was an instructor for the Olds College Brewmaster program in 2022. She is passionate about craft beer, creating recipes and sharing the fruits of her labour with others.

Wild Winds Brewery produces craft beer made with the highest quality ingredients and standards. They believe in supporting local businesses, caring for people, giving back to their community, creating experiences, and providing a FUN place to hang out (when they have a brick-and-mortar building).

Resources

EDC Coming together: How women entrepreneurs can excel through business collaboration: https://www.edc.ca/en/blog/women-entrepreneurs-excel-through-collaboration.html?utm_source=ti&utm_medium=edc-email&utm_campaign=content_tradeinsights&utm_content=prospect_newsletter_test_Hero2-int-1a_apr-18-23_e

Episode Blog: https://thefinancecafe.ca/the-must-knows-of-entering-into-successful-business-collaborations/

Connect with Wild Winds Brewery 

LinkedIn: https://www.linkedin.com/company/wild-winds-brewery/ 

Instagram: @wildwindsbrewery 

Facebook: https://www.facebook.com/WildWindsBrewery/ 

Website: www.wildwindsbrewery.ca 

Sponsor

For more resources and information for women entrepreneurs be sure to connect to our incredible podcast sponsor the Women Entrepreneurship Knowledge Hub 

Connect with Us

Website: thefinancecafe.ca/ 

Instagram: @thefinancecafeofficial 

LinkedIn: The Finance Cafe 

Learn more about our financial literacy program designed specifically for you and don’t forget to use code PODCAST10 to save 10% off at www.thefinancecafe.ca/   

In this episode, Shauna sits down with Nadia Ladak, the co-founder and CEO of Marlow, a new menstrual wellness brand that has created the first-ever lubricated tampon for smoother and more comfortable insertion. Shauna and Nadia discuss the creation of Marlow and where this idea first started, challenges they’ve encountered as a company along the way and how they’ve overcome these obstacles, changing the conversation around periods and menstrual cycles, the strategy for pitching their business concept which raised over $400K in non-dilutive grants, and tips for entrepreneurs listening that have an idea but are unsure where to start. 

Nadia led the team’s fundraising strategy and has raised $700,000 from investors and received $400,000 in non-dilutive grants. The brand is going viral on TikTok with over 50M views and has been featured in Global News, Canadian Living, Vancouver Sun, the Kit, and more. Beyond the product, the team is taking a community-driven approach to reduce the stigma around menstrual health through education and conversations. Nadia is a member of the G20 Young Entrepreneur Alliance where she works on international entrepreneurship policy and on Startup Canada's Women Advocacy Network where she speaks with government leaders to advocate for women entrepreneurs. She has been recognized as one of Canada's top 30 under 30 leaders by Bay Street Bull and as one of The Peak's Emerging Leaders.

Marlow is transforming the way we experience and talk about periods, starting with an all organic lubricated tampon designed for smoother and more comfortable insertion. Marlow is leading the modern menstrual movement and is empowering menstruators to take charge of their health.

Resources

Episode Blog: https://thefinancecafe.ca/a-startups-journey-to-bringing-a-better-product-to-market/

Connect with Nadia 

Twitter: https://twitter.com/nadialadak 

LinkedIn: https://www.linkedin.com/in/nadia-ladak/ 

Instagram: https://www.instagram.com/nadia_ladak/ 

Connect with Marlow  

TikTok: https://www.tiktok.com/@wearemarlow 

Website: https://www.wearemarlow.com/ 

Sponsor

For more resources and information for women entrepreneurs be sure to connect to our incredible podcast sponsor the Women Entrepreneurship Knowledge Hub 

Connect with Us

Website: thefinancecafe.ca/ 

Instagram: @thefinancecafeofficial 

LinkedIn: The Finance Cafe 

Learn more about our financial literacy program designed specifically for you and don’t forget to use code PODCAST10 to save 10% off at www.thefinancecafe.ca/   

In this episode Shauna sits down with Ashli Phippen, a Chartered Professional Accountant, Co-founder of Grow CPA, and mother of two, to discuss why it’s so important to be prepared for that year-end meeting with your accountant and what you can do to be prepared with her 5 key tips, to make the most out of the meeting.  From understanding your financial information to setting realistic goals, these tips will help you approach your year-end meeting with confidence and clarity. So whether you're a seasoned entrepreneur or just starting out, tune in to this episode and get ready to take your business to the next level.

Grow CPA was founded with a BIG mission: to empower Canadian business owners with the financial knowledge and expertise they need to understand their numbers and make better business decisions.

Having spent many years in traditional accounting roles, founders and CPA's Ashli and Martina, noticed that business owners needed more than just their annual filings, they needed guidance, education and coaching. 

They’re on a mission to give Canadian business owners the financial knowledge and tools they need to build a wildly successful business and lasting financial legacy.

Resources

Episode Blog: https://thefinancecafe.ca/5-tips-for-preparing-for-the-year-end-meeting-with-your-accountant/

Connect with Ashli

Website: www.growcpa.ca 

LinkedIn: www.linkedin.com/company/growcpa 

Instagram: www.instagram.com/growcpa/ 

Facebook: www.facebook.com/growcpa 

Sponsor

For more resources and information for women entrepreneurs be sure to connect to our incredible podcast sponsor the Women Entrepreneurship Knowledge Hub 

Connect with Us

Website: thefinancecafe.ca/ 

Instagram: @thefinancecafeofficial 

LinkedIn: The Finance Cafe 

Learn more about our financial literacy program designed specifically for you and don’t forget to use code PODCAST10 to save 10% off at www.thefinancecafe.ca/   

In this episode Shannon sits down with Dr. Wendy Cukier, Founder & Academic Director of the Diversity Institute, Academic Director of the Women Entrepreneurship Knowledge Hub, and Research Lead of the Future Skills Centre, to discuss the current state of women’s entrepreneurship in Canada and their recently launched 2023 State of Women’s Entrepreneurship annual report which synthesizes new research on women entrepreneurship in Canada to inform policy and practice. Learn about the key findings in the report, how we assess economic impact, important statistics on women entrepreneurship, what surprised her most, and much more. 

Dr. Wendy Cukier is a professor of Entrepreneurship and Strategy at the Ted Rogers School of Management, Academic Director of the Diversity Institute and Research Lead of the Future Skills Centre. She co-authored the bestseller “Innovation Nation: Canadian Leadership from Java to Jurassic Park" and is a leader in disruptive technologies and innovation. She is the former VP of Research and Innovation and has authored more than 200 articles on aspects of diversity, inclusion and innovation. She leads Toronto Metropolitan University’s Diversity Institute which has 130 research staff, 100 research associates from around the world and more than 200 industry partners focused on dimensions of diversity and inclusion in the workplace, future skills, and entrepreneurship. She also leads the  Women Entrepreneurship Knowledge Hub, funded by the Government of Canada which promotes inclusive supports for women and other diverse entrepreneurs. and the Inclusive Innovation and Entrepreneurship Network (IIE-Net). She is also the research lead for the Future Skills Centre with a comprehensive research agenda and supporting innovative pilot projects.

Her work on the DiversityLeads project helped shape Bill C-25 and the 50-30 Challenge. The Diversity Institute is now an ecosystem partner supporting organizations that sign up for the 50-30 Challenge committing to gender parity and increased diversity on their boards and or senior leadership roles. 

She has been recognized with many awards including the Harry Jerome Diversity Award, and recognized in the 100 Most Powerful Women by WXN. She has been named a YWCA Woman of Distinction, one of the "100 Alumni who shaped the Century" by the University of Toronto and International Women’s Forum 2020 Women Who Make a Difference. Wendy holds a PhD in Information Systems, an MBA, an MA, and honorary doctorates from Laval and Concordia. She also received Canada’s Meritorious Service Cross, one of Canada’s highest civilian honours. She is also the founder of several startups, social enterprises and nonprofits.

Resources

Women’s Entrepreneurship Knowledge Hub: 

Website: https://wekh.ca/ 

LinkedIn: https://www.linkedin.com/company/wekh-pcfe/ 

Instagram: https://www.instagram.com/wekh_pcfe/ 

Twitter: https://twitter.com/wekh_pcfe 

Facebook: https://www.facebook.com/WEKHPCFE/ 

See It Be It Campaign: https://wekh.ca/see-it-be-it/ 

Sponsor

For more resources and information for women entrepreneurs be sure to connect to our incredible podcast sponsor the Women Entrepreneurship Knowledge Hub 

Connect with Us

Website: thefinancecafe.ca/ 

Instagram: @thefinancecafeofficial 

LinkedIn: The Finance Cafe 

Learn more about our financial literacy program designed specifically for you and don’t forget to use code PODCAST10 to save 10% off at www.thefinancecafe.ca/   

In this episode, Shauna sits down with Laura Gassner Otting, Author, Catalyst, and Executive Coach to discuss passion vs purpose, comparing ourselves to others and how we can use this in a positive way, defining our own definition of success as women, and advice for women entrepreneurs around ambition. 

Laura’s secret superpower is seeing your greatness and reflecting it back on you, so that you can get “unstuck” — and achieve extraordinary results. 

A frequent contributor to Good Morning America, the TODAY Show, Harvard Business Review, and Oprah Daily, Laura’s 30-year resume is defined by her entrepreneurial edge. She served as a Presidential Appointee in Bill Clinton’s White House, helping shape AmeriCorps; left a leadership role at respected national search firm to expand a tech start-up; and founded, ran, and sold her own global search firm, partnering with the full gamut of mission driven corporate and nonprofit executives. 

Laura is turned on by the audacity of The Big Idea and that larger-than-life goal you just can’t seem to shake. She’s an instigator, motivator, and provocateur, and she’s never met a revolution she didn’t like. Just ask her enduringly patient husband, two almost-grown sons, and two troublesome pups with whom she lives outside of Boston, MA.

Laura is the author of Limitless: How to Ignore Everybody, Carve Your Own Path, and Live Your Best Life (2019), which debuted at #2 on the Washington Post bestseller list (right behind Michelle Obama), has been translated into Arabic, Korean, Turkish, Portuguese, and German, and which Good Morning America’s Robin Roberts chose as one of her Favorite Books of 2019, as well as Mission-Driven: Moving from Profit to Purpose (2015). Her forthcoming book, Wonderhell, is being released on Tuesday, April 4, 2023.

Resources

Laura’s Books: https://www.lauragassnerotting.com/books 

Connect with Laura 

Website: https://www.lauragassnerotting.com/ 

Twitter: https://twitter.com/heylgo 

Instagram: https://www.instagram.com/heylgo/ 

Facebook: https://www.facebook.com/heylgo/ 

LinkedIn: https://www.linkedin.com/in/heylgo/ 

Sponsor

For more resources and information for women entrepreneurs be sure to connect to our incredible podcast sponsor the Women Entrepreneurship Knowledge Hub 

Connect with Us

Website: thefinancecafe.ca/ 

Instagram: @thefinancecafeofficial 

LinkedIn: The Finance Cafe 

Learn more about our financial literacy program designed specifically for you and don’t forget to use code PODCAST10 to save 10% off at www.thefinancecafe.ca/   

In this episode Shannon sits down with Kristine Beese, founder of Untangle Money, to discuss the gender wealth gap, and what we can be doing to close this gap. They discuss what compelled Kristine to create Untangle Money, why taking a gendered approach to finances is so important, myths around women and money, and financial tips for women. 

Kristine helps companies foster stronger relationships with the women and fems who work at their firms. By offering a women-centric approach to financial literacy, not only does Kristine reduce women’s biggest source of anxiety; she also helps companies demonstrate their commitment to gender-equality and helps their employees feel seen.

Kristine is a former national pairs-figure skater who brings tenacity and bravery to her role as a founder of the fintech startup Untangle Money. A problem-solver by nature, her P.Eng. helps her look at problems from a first-principles perspective. And with over a decade of experience in the finance industry, she brings the strategies employed by high-net-worth people to the masses.

As a woman and a mother, Kristine has learned through lived experience in male-dominated industries that women experience the world differently from men. This is especially true of our personal finances. As such, it was critically important that the solution that we developed at Untangle Money worked for women and is grounded on women-specific data. 

Resources

Wealth Simple retirement calculator: https://www.wealthsimple.com/en-ca/tool/retirement-calculator 

Connect with Kristine

Untangle Money: https://www.untangle.money 

Listener Discount Code: IAMGREATWITHMONEY

Twitter: https://twitter.com/UntangleMoney 

Instagram: https://www.instagram.com/untanglemoney/ 

LinkedIn: https://ca.linkedin.com/company/untangle-money 

TikTok: https://www.tiktok.com/@untanglemoney 

Pinterest: https://www.pinterest.com/untanglemoney/ 

Email: [email protected]

Sponsor

For more resources and information for women entrepreneurs be sure to connect to our incredible podcast sponsor the Women Entrepreneurship Knowledge Hub 

Connect with Us

Website: thefinancecafe.ca/ 

Instagram: @thefinancecafeofficial 

LinkedIn: The Finance Cafe 
Learn more about our financial literacy program designed specifically for you and don’t forget to use code PODCAST10 to save 10% off at www.thefinancecafe.ca/  

In this episode Shauna sits down with Alysha, Sr. Financial Planner in Tax and Estate Planning at Richardson Wealth Limited, to discuss why estate planning is so important and what this looks like as an entrepreneur, breaking down what estate planning is and what it entails, who should be involved in the process, and 5 estate planning tips for women entrepreneurs.

Alysha takes a holistic approach to wealth management, leading the wealth planning process in its entirety — from goals-based discovery to developing detailed financial and estate plans, through to strategy implementation.

With over 10 years experience in the investment industry, Alysha provides clients with comprehensive wealth services including expert insight on tax, intergenerational wealth transfer, philanthropy, business succession and continuity planning and estate planning. She holds specialized designations in financial planning, family enterprise advisory, estate planning, and risk management. Alysha is actively involved in the industry — she is Chair of Programs Committee for the Society of Trust and Estate Practitioners (STEP) Vancouver Executive, a mentor to students through Junior Achievement of British Columbia, STEP and the BCIT Financial Planning Program, and serves as Director and Chair of Education for the Financial Planning Association of Canada (FPAC).

Resources

Being an Executor

The digital hereafter

Domestic Agreements: A Primer

Dying Intestate

Estate Conflicts

Estate Planning Checklist

Estate Record Keeper 

Connect with Alysha

LinkedIn: https://www.linkedin.com/in/alyshato/

Website: https://richardsonwealth.com/wealth-strategies/

Sponsor

For more resources and information for women entrepreneurs be sure to connect to our incredible podcast sponsor the Women Entrepreneurship Knowledge Hub 

Connect with Us

Website: thefinancecafe.ca/

Instagram: @thefinancecafeofficial 

LinkedIn: The Finance Cafe 

Learn more about our financial literacy program designed specifically for you and don’t forget to use code PODCAST10 to save 10% off at www.thefinancecafe.ca/

In this episode Shannon sits down with Karyl Akilian, Director of Marketing and Business Development at Financial Alliance for Women to discuss the power of the women’s economy, why we need to take a gendered approach as Financial Service Providers, barriers Financial Service Providers face when it comes to creating equality in the economy, key tips for financial service providers, advice for women entrepreneurs when it comes to their finances, and her future vision for accelerating women’s financial success.

Karyl’s responsibilities include increasing the impact of the Alliance’s communications, providing institutional support to members on Women’s Market program development as well as supporting the expansion of the Financial Alliance for Women. Prior to joining the Alliance, Karyl worked for 12 years at BLC Bank, Lebanon, where she served as the Head of Product Development until she was assigned Head of Brand Management in 2013, leading the strategic planning process for the Bank’s brands to build the brand equity.

She played a fundamental role in developing, implementing and overseeing the execution of We Initiative, the Women Empowerment program launched in 2012 by BLC Bank. During her years managing the We Initiative, she was a speaker at numerous international conferences and in 2016, was selected as one of the Global Banking Alliance for Women network’s “All-Star instructors”. Throughout her years at BLC Bank, she has trained more than 50 banks around the globe on how to develop a Women’s Market Program.

Due to her active role in the women empowerment scene, she was elected on the board of the Lebanese League for Women in Business in 2015 and re-elected for a second term in 2017, where she holds the function of Treasurer.

Resources

Connect with Karyl

LinkedIn: https://www.linkedin.com/in/karyl-akilian-momjian/

Instagram: @Karyl.akilian

Twitter: https://twitter.com/karyl_akilian

Connect with Financial Alliance:

LinkedIn: https://www.linkedin.com/company/faforwomen/

Instagram: @FAforWomen

Twitter: @FAforWomen

Website: www.financialallianceforwomen.org

Email address: [email protected]

Sponsor

For more resources and information for women entrepreneurs be sure to connect to our incredible podcast sponsor the Women Entrepreneurship Knowledge Hub 

Connect with Us

Website: thefinancecafe.ca/

Instagram: @thefinancecafeofficial 

LinkedIn: The Finance Cafe 

Learn more about our financial literacy program designed specifically for you and don’t forget to use code PODCAST10 to save 10% off at www.thefinancecafe.ca/