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Getting Started
Dolly Watts
Liliget Feast House
"I always wanted to own a business, but I didn't know what kind. I was always exploring. "This one came straight at me, and I couldn't turn it down. People wanted everything I cooked. I really had no choice."
Dolly Watts is a wonder. At age 49, she went to university; at 57, she started a catering business; at 60, she opened a restaurant. And at 69, she won the Gold Medal in an Iron Chef competition in Vancouver.
Dolly owns and operates Liliget Feast House in Vancouver, a restaurant that celebrates the aboriginal food of her childhood. In 2001, she won a National Aboriginal Achievement award for business and commerce. Dolly estimates that, between her catering business and her restaurant, she's spent "more than $1 million in wages for aboriginal people."
Liliget is a combination of all the things that matter to Dolly: she's an organizer and a manager, and she enjoys the business end; her family works with her; the restaurant features native cooking; and it gives her a chance to share her Git'ksan heritage and culture with customers.
"I knew it was the only native restaurant in Canada," she says, "and because I studied anthropology at university, I could talk to anyone about our culture. I was very outspoken and not shy to talk about it."
Even Dolly's website finds a balance between savvy marketing and being true to herself. She's a poet, and uses her website to give customers another sense of her life.
"When we launched the website, we launched it at an international market – especially the poetry. I wanted people to see what my life was really like – that it really was me picking berries, or participating in a large funeral. People are really thankful to learn about native people."
You have a great idea, and you wonder why no one thought of it before. Before you start filling out loan applications or renting office space, ask yourself some tough questions – and be prepared to do your homework.
1. Do you have what it takes to be your own boss?
To manage a successful business, you'll need:
- Passion for your idea and the ability to communicate it to others.
- Motivation to develop a plan and to work hard to carry it out.
- Problem-solving skills.
- Multi-tasking skills to handle a hundred details at once, as well as develop and manage your business strategy.
- Self-confidence: trust in your decisions and people skills.
- Flexibility to recognize and adapt to change, opportunities and unforeseen developments.
- Ability to sell yourself and your products or services.
- Persistence to see your idea through.
2. What's your vision?
Why do you want to go into business? Is it to follow your passion, take control of your life and career, achieve influence and success, or become financially independent? How would a business help you achieve that? How do you expect things to look three years down the road? See "Building Your Plan" .
Sole proprietorship: that’s just you.
Micro business: under 5 employees.
Small business: 5-50 employees.
Medium-sized business: 50-100 employees.
3. Who might want to buy your product or service?
It's all about people. Your decisions on everything from product to price to location need to be based on the characteristics and needs of your potential customers. See "Defining Your Market" .
4. How would you manage financially?
You may need money to pay for office space, supplies, equipment, inventory and to cover your personal income needs, perhaps for a year or more. See "Finding the Money".
5. What do you need to know to run a business?
Think multi-tasking: you will have to manage your space, inventory, suppliers, finances, marketing and correspondence. Even if you hire professionals to help, you will need to understand enough of what they do to oversee their work and apply it to your situation. See "Learning the Ropes" .
6. How would a business affect your personal life?
The first three years in a new business are usually de fined by a steep learning curve and long hours. Many business owners put holidays and personal plans on hold until they become established. Good organization, clear boundaries and the cooperation of family members are critical to success. See "Finding the Balance".
Resources
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Self-assessment and business resources for women, www.wes.bc.ca,
1-800-643-7014. -
"Getting Started," www.smallbusinessbc.ca.
Follow the Small Business link to Online Small Business Workshop, or call 1-800-667-2272. -
"Exploring Business Opportunities: A Guide for Entrepreneurs" www.gov.bc.ca/sbed. Click on Reports and Publications.
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Strategis Guides: "Starting a Business,"http://strategis.gc.ca
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"Business Start-Up Assistant: Your Guide to Starting a Small Business in Canada" http://bsa.cbsc.org.
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"Business for Beginners" ((3rd ed. ), Frances McGuckin. Eastleigh Publications, 2003.
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"Starting a Successful Business in Canada" ((16th ed.), J. D. James. International Self-Counsel Press, 2004.