Local LED lighting company shines thanks to 2Phase3

2Phase3’s mission is to share our expertise and know how to inspire business owners so their business will grow and succeed into the 3^rd phase of their business cycle. We love what we do and mostly love it when our clients succeed.

That is why for us at 2Phase3, there is nothing quite as satisfying as seeing a client win a prestigious  business award. Knowing your client is grateful is nice. Seeing their (aka: your) business development initiatives generate results is wonderful. Seeing your client grow into their role as entrepreneurs is also extremely satisfying.

But having an external entity like a chamber of commerce or reputable business publication recognize a company that 2Phase3 has mentored is… you guessed it, priceless. 

That is precisely what happened for 2Phase3 recently. One of our local Ottawa clients, Rimikon Inc. a manufacturer of innovative LED products, was awarded the exceptional new business award by the Ottawa Chamber of Commerce and the Ottawa Business Journal. (Best Ottawa Business Awards)

After months of hard work by all, this recognition is proof that the light at the end of the tunnel wasn’t a train but indeed a light or in Rimikon’s case a Light Emitting Diode.

2Phase3 didn’t completely have to start from scratch since the owners (two brothers) are already entrepreneurs albeit in a very different space. They have been involved essentially in the service industry operating their own business which they bootsrapped with the help of family.

Their business was successful but had never really required the formal steps that the average start-up has to go through especially one that involves manufacturing.

Formal business plans, sales forecasts, marketing plans and strategies, distribution channels, shipping strategies and most important: raising venture capital were things they had heard of but had never needed to do.

This is where 2Phase3 came in.
 

• We helped them adjust their thinking from one suited to the service industry to the product and manufacturing industry.
• We worked with the owners to create a financially viable and sustainable business model.
• We accompanied the owners through the due diligence process and helped them secure a first round of financing.
• We shared our expertise with them to solidify their procurement and distribution channels.
• We increased their visibility by facilitating several important public relations events.
• We prepared the owners for presentations to angel investors.
• We were there at every step to make sure the owners didn’t make the mistakes that are so common in the start-up process so they would get to a position of growth as soon as possible.

That is what 2Phase3 is passionate about, helping our clients succeed. We become an integral part of our clients’ management team. Because we’ve been there, we understand the intricacies of the start-up process and business development better than anyone. We work hands on in close collaboration with our clients with unparalleled dedication to establish a solid business foundation, ensure continued growth and ultimate and consistent success.

We are only successful when you are !

2Phase3 -Recipes for Small Business a Mother's Day Special..Part 1

2Phase3 Blog – May 2013

Some Recipes For Small Business....– a Mother's Day Special... Part 1 (part 2 on Father's Day...)

Far too often we hear of the stresses related to owning and operating a small business. For many, the mere word “entrepreneurship” causes them to shake and quiver.  For others the fear of potentially losing everything- while gaining nothing brings nightmares far worse than the thought of another Sly Stallone comeback movie.

It doesn’t have to be this way. In fact with some careful initial planning, advice, and an open-mind to change small business owners can learn to work through difficult times (which will occur to any business) and lessen the stressful days and endless nightmares.

A few tips…

1)   Before you being your business- actually seek out those who can help you form objective opinions as to what path (if any!) the business should follow.

At 2Phase3 we often find ourselves being contacted in the midst of a business meltdown or collapse where miracles are needed and are often difficult to find.  We wish the owners contacted months earlier! Hiring an outside team around your business to work with the owners as objective leaders and advisors will be money well spent. Think of the cost versus losing your home.

Easy decision. 

2)   Listen, listen..and listen some more.  Just because this is YOUR business and you have put in the time, energy, tears and money doesn’t mean it is the perfect business. We often see entrepreneurs lose a sense of reality as they are too close to the business situation to see the forest from the trees.

Our consultants often hear from business owners that this is the way things are going to be- that this is MY business, I have planned this so we must continue to go down this path…and so on.

Small business owners have pride in what they are selling. They should! But they must also open their minds to change and to hear from others that their idea is not realistic…no good..’sucks’. This is a hard pill to swallow but to overcome this rejection of ideas from neutral outside sources (again the hiring of consultants who have seen it all) is a significant step towards many restful nights of sleep…and a bit of peace of mind knowing you are not alone in this venture.