Archive for February, 2010

We stumbled across an article in an old volume of Exchange Magazine profiling our CEO, Sol Algranti. Before forming Northbridge, Sol worked in the manufacturing industry for many years, where he learned about the SR&ED program and how to successfully claim for it. Soon he was helping associates and friends put their claims together – and out of that, Northbridge was born. We are firm believers that our background with the manufacturing industry is what sets Northbridge apart.

Read more about Sol Algranti’s pas in manufacturing.

1. Arrive at any networking events early, and stay late. The majority of the networking typically happens after or before an event takes place. If you arrive early, you can both prepare yourself mentally for the event and meet those others who arrive early. Afterwards, the discussion will likely be more relevant to what happened at the event and may lead to more opportunities for you to build relationships with these people.
2. Be prepared. Look into who else is going to be attending the networking events, to see what you could do for each other. Think up questions that you want to ask them. Practice your self-introduction and a 10-second description of you and the business you do.
3. Have a plan. What do you want to get out of this networking event? Is there someone in specific that you want to meet? Some objective that you want to accomplish? For example, some people attend networking events looking to meet 3-5 quality contacts.
4. Go for quality, not quantity. Sure, you could meet every single person in the room, but if that means that you don’t have time to speak with that one person who could potentially use your services, or purchase your product, then you’ve missed out on a great opportunity.
5. Don’t be afraid to give out more than one business card to each person. They may know someone who could use your products or services. Along the same lines, don’t be afraid to ask them to pass on your information to people they know.
6. Take note of the business cards you get. Stop to read them when they are handed to you before putting them away – this will show the person that you are talking to that you are really interested in them and what they are saying. This also could help spark a couple of questions from you to keep the conversation going. As well, make notes on the business card that will help you when it comes time to follow up with this new contact.
7. Remember that first impressions count. Make a good, strong one. Smile, be friendly. If you have had a hard day at the office beforehand, make sure your attitude doesn’t show it. People are more likely to communicate with someone in a good mood.
8. Choose the right networking groups and events. Make sure the event you are attending has the type of people you want to meet in it. At the same time, if the networking group is aimed at a certain group (CEOs who knit, for example), make sure that what the group is focusing on is of interest to you.
9. Don’t spend your networking time trying to sell. The goal of networking is to build relationships that will help both you and the person you’re building a relationship with at some time in the future.
10. Follow-up! The networking process is more than just meeting someone; in fact, it is a three-stage process. First, you meet the person. Second, you build the relationship with the person. Third, you get business or support from the relationship with the person. If you don’t follow up with the person after meeting them (and on a regular basis) then you won’t end up with a strong relationship that can bring you business. Remember, networking is a long-term process, and you won’t get the results overnight.

The Conference Board of Canada issued a report on Tuesday on the state of Canada’s innovative abilities. Unfortunately, although we have the world’s best R&D funding program, we do not seem to rank very well on the global scale of taking the innovation we do and profiting from it. In fact, we ranked “14th among 17 industrialized nations for its ability to turn knowledge into money-making products and services.”

One of the sources of the problem suggested is that Canadian companies feel insecure about purchasing innovative products from other Canadian companies – and if a company cannot sell its products to other Canadian companies, then global companies start to question the value of the products.

Another source of the problem that is suggested is that Canada exports raw materials to be processed elsewhere instead of processing it here ourselves.

The report is not all bad news, however. It has been suggested that biofuels is an industry where Canada could become a leader.

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