Line of Business
Munch n' mingle your way to business success - three experts show you how
New communities of interest are mushrooming across many Canadian cities offering startups and entrepreneurs incredible networking opportunities, as well as a wide array of tools and resources to effectively build their business. Three experts reveal how you can participate in these communities, and the tremendous benefits when you do so. INCLUDES VIDEO.5/26/2008 9:00:00 AM By: Joaquim P. Menezes
Communities of interest in various Canadian cities are offering startups and entrepreneurs a wide array of resources and tools to effectively grow their business.
The activities of these communities – and the benefits of they offer – were highlighted by experts at an event organized by Canadian Innovation Exchange (CIX) in Toronto recently.
CIX offers new Canadian technology companies a forum to meet and network with one another, as well as with potential investors. During the two-day event industry experts share insights, ideas and success stories. This year's event also included sessions about private and public funding and how to get it.
A highlight of the Conference was a roundtable titled Social Networking for Entrepreneurs, during which three industry experts talked about bar-camps and other communities of interest being hosted in Toronto and other Canadian cities.
In most of these communities membership is free and requirements for participation in community events pretty simple.
New entrepreneurs and small business owners no longer go to events they have to pay to get into because they don't need to, noted Jevon MacDonald, co-founder of Firestoker.com, an online collaboration forum used by a wide range of North American companies.
Instead, he said, in cities such as Toronto, Montreal and Vancouver budding entrepreneurs are either "attaching themselves to communities that other companies are building or that PR firms have set up."
That's a huge contrast from the situation just five years ago when such communities of interest for new entrepreneurs were virtually non-existent.
From an entrepreneur's perspective, what are some specific benefits of attaching oneself to a "community of interest" and participating in its events?
The panellists threw out this one to attendees at the conference.
Monetizing community?
Money (access to new investment), networking opportunities, resources (such as learning new skills) and the good chance that you might pick up talented people from among event attendees to join your new venture – were some responses from the audience.
The panellists agreed but offered a caveat.
People ask if you can monetize community, said Will Pate, Community Manager, VenCorps.
His answer: "Yes you can. But it's the same way you monetize a blog. Not directly – but on reputation and the things you get out of it. Very few companies monetize community directly. Facebook and MySpace, and all those guys are still trying to figure it out."
According to Pate, a better way to view these communities is as forums to increase the number of stakeholders in your business – partners, coaches, potential customers or employees, investors…folk that you can receive from and give something to.
Page Navigation 1) New entrepreneurs are no longer going to events that they have to pay to get into. – Page 1
2) "These communities are forums to increase the number of stakeholders in your business." – Page 2
3) JavaRanch is one of the greatest examples of online community. – Page 3
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