Empowering newcomer entrepreneurs through mentoring: A Q & A with Futurpreneur Alex Chunga 

This story is presented as part of My Canadian Startup, a newcomer entrepreneur initiative presented by Futurpreneur and TD through its corporate citizenship platform, the TD Ready Commitment. 

In December 2015, Alex Chunga moved to Canada from Zambia, where he was a wildlife biologist. As a newcomer, he was inspired to take the leap from employee to employer in 2017 when the general contracting company he worked for was selling off some of its equipment. 

Alex, who had a background in construction and carpentry — but no experience in running a business — decided to buy the equipment and start his own general construction company. His business, iHome Prestige Luxury, based in Kawartha Lakes, Ontario, specializes in home renovation and restoration as well as building new homes. Now, Alex looks back on his experience as a Futurpreneur and how he found support and success on his entrepreneurial journey. 

What were the biggest hurdles you faced when launching your small business in Canada, and how did Futurpreneur help you navigate some of those challenges?  

The mentorship, resources and funds I got through Futurpreneur really boosted the startup part of my business when I had no means to support myself, no credit history, and no idea about business plans or cash flow or anything in relation to that. On Futurpreneur’s website, there’s a link that sends you over to a cash flow template where you fill in all the details and they guide you through creating a two-year cash flow. And Futurpreneur’s business plan writer was really, really great. With the funds that I got from Futurpreneur, I was able to purchase tools and materials for my first job and to give me a boost to get more jobs. 

My mentor, Bonnie, helped me learn how to get going, to understand how the Canadian system works. I didn’t know how to speak to clients, how to draft up contracts or quotes or a scope of work. Thanks to Bonnie’s guidance, I was ready to get going on my own. 

I still reach out to my mentor sometimes, just to say thank you for helping me navigate through my first years and giving me the confidence to let me know you can do this regardless of the challenges, regardless of where you’re coming from, your background. If you put your work into it, you will definitely be able to achieve it. 

What other supports beyond Futurpreneur have made a difference on your entrepreneurial journey?  

I have gotten support from my previous employer, who I purchased the equipment from. 

Other than Futurpreneur and my mentor, he was the “left hand man” who walked me through the other side of the business, helping me figure out how to price work, because by the time I purchased the equipment from him, it came with a bit of clientele. I also got clients by networking with local retail stores and manufacturers. 

How important is it for a newcomer to do research on the Canadian market for a product or service, and how did you go about researching the market? 

It’s really important to understand the field that you’re getting into by doing the market research. For me, being in a different country, it was a surprise that the field I’m getting into was somewhat different in Canada than what I’m used to where I come from. 

I did quick research about construction companies that were in my area, what type of services they were providing, and I tried to identify how I would be able to fit into a competitive market. 

I reached out to one guy who was my competitor, just trying to figure it all out. He took it pretty good and he gave me all the answers that I was looking for. Even stuff that I had no idea about, he walked me through. 

Are you a newcomer entrepreneur looking to start, buy or grow a business in Canada? Learn more about My Canadian Startup, here. 

What advice would you offer a newcomer entrepreneur who wants to launch a business? 

My advice to newcomers thinking about starting a business in Canada would be to find yourself a mentor to help guide you through getting started in a new country. 

And second, I would say just try to find your niche— where can I fit in best in this field and be able to flourish? I would say get started with a business plan that helps you understand the market you’re getting into — Futurpreneur’s business plan writer has sections in it to help you do market research, like who your competitors are. Third, I’d probably say, just be who you are, and trust yourself, and it’s going to work out. 

What are the most important things you’ve learned about doing business in Canada?  

The most important thing I’ve learned about doing business in Canada is the importance of networking and socializing with the community that’s in the field that you’re getting into. And I would also say, being in the construction industry, doing good quality work with big volumes. 

What’s the most important thing you’ve learned about yourself on your journey in entrepreneurship?  

The most important thing I’ve learned about myself throughout this journey the past seven years, I would say is how resilient, strong, hardworking and focused I am. I refuse to accept failure. I’ve never looked back since then. I always tell myself to stay focused, be patient and work hard, and the rest will follow suit.                                                                                                                                                                      

Every Futurpreneur loan comes with mentorship and resources. If you are a young entrepreneur looking for information about the benefits of mentorship, click here to learn more. 

Presented by the TD Bank Group

Mental health as a superpower: Jennifer Marotta’s approach to entrepreneurship and well-being

Entrepreneurship is full of challenges—from big decisions to managing teams to growing a business. For many, mental health can either be a hidden hurdle or, as Jennifer Marotta, owner of Halifax-based East Coast Dog, has discovered, a source of strength and inspiration.

Jennifer’s story shows how embracing mental health struggles can help entrepreneurs thrive. Her journey, marked by compassion and resilience, offers lessons for anyone navigating the intersection of business and well-being.

Building a business rooted in care

Jennifer’s entrepreneurial path was shaped by her own mental health challenges. “What inspired me to start my business was my struggle with mental health and the frustrations I faced in traditional workplaces,” she explains. Having spent years in the service industry, Jennifer witnessed burnout and a lack of support firsthand.

Instead of letting these challenges hold her back, Jennifer used them as motivation to create a workplace where mental health is prioritized for herself and her team.

Tip: Use personal experiences, even the tough ones, to shape your business vision. Often, challenges can lead to meaningful solutions.

The power of community

Jennifer emphasizes the importance of connection for mental well-being. “Building a community of support has been essential for me,” she shares. For Jennifer, that means surrounding herself with family, friends, mentors, and fellow entrepreneurs. Therapy has also been an essential resource, helping her process challenges and gain clarity.

Tip: Seek out support networks, whether through mentorship, peer groups, or professional help. Sharing experiences can lead to invaluable insights and encouragement.

Creating a culture of well-being

Jennifer makes employee mental health a priority at East Coast Dog. Wellness days, an Employee Assistance Program, and a culture of openness allow her team to take care of themselves without guilt.

By fostering a supportive workplace, Jennifer has created a thriving team that feels valued and motivated.

Tip: As a business owner, prioritize your team’s mental health. Simple steps like flexible time off or mental health resources can make a big impact.

Mental health can be a superpower

Jennifer’s advice to entrepreneurs is clear: “Your mental health challenges are not a weakness—they’re your superpower.” By addressing her struggles directly, Jennifer has built empathy and resilience, traits that enhance her leadership and decision-making.

Tip: Embrace your mental health journey and see it as a strength. It can help you lead with greater understanding and compassion.

Futurpreneur is partnering with Business Development Bank of Canada (BDC) to offer free mental health resources to approximately 200 Futurpreneur-supported entrepreneurs. If you have received a loan with mentorship from Futurpreneur, check your email to learn more about this offering.

“Know your money and know yourself”: Financial success tips for young entrepreneurs from Shay Myers

Knowing the ins and outs of your money is a powerful step toward business success, says Shay Myers, an Ontario-based licensed financial professional and founder of Finance for the Culture. The company offers an accessible, fun approach to financial literacy, with a special focus on young entrepreneurs.

From personal journey to professional impact

Shay’s own story is a testament to the power of understanding your finances. Four years ago, she had only $200 to her name, a 476 credit score, and no savings. But after diving into financial education and learning the rules of the money game, Shay’s entire outlook—and finances—transformed: she saved $40,000 in just nine months and invested $25,000 by the end of the year. Her journey inspired her to become a licensed financial professional, empowering others to make the same changes. “I wanted to help people understand how money works so they could make real, lasting changes,” Shay says.

In this guest blog post, Shay shares her top tips from her recent Master Your Money workshop hosted by Futurpreneur, where she offered valuable advice to help young entrepreneurs better understand financial fundamentals and build a solid money mindset.

Start with the basics: Your budget

If you’re reading this, it’s NOT too late to get your money right! We often know more about the financial moves of celebrities than we do about our own, and that has to change. The only way to know how well you’re doing financially is to dig into your numbers—because in the wise words of Drake, “know yourself.”

A budget is more than a list of things you can’t buy. Today’s budget is elevated. It’s an outline of your income and expenses, giving you a clear view of where your money is going. It’s your financial plan that helps you tell your money where to go rather than wondering where it went.

Most people cringe at the word “budget,” imagining restriction and guilt, but the truth is, a personalized budget can give you financial freedom. Knowing your numbers is the first step toward building financial confidence and making better decisions for your future.

Personal finance: It’s all about cash flow and credit

On the personal finance side, it’s crucial to know how your money is moving. Understanding your cash flow (the money left after paying bills) helps you adjust your spending habits. If your income can’t support both your bills and the lifestyle you want, something has to change.

Your credit score also plays a huge role in your financial life. Knowing your credit score allows you to make smarter decisions about managing debt. For young Black entrepreneurs, this is especially important. If your business doesn’t yet have established credit, lenders will look at your personal credit when deciding whether to loan you money. A solid personal credit score shows financial reliability, making it easier to secure the capital you need to grow your business.

Quick guide to knowing your personal finances:

• Income: What are your main sources of income? Do you have side hustles? Is it enough to sustain your lifestyle?
• Expenses: What are your fixed and variable monthly expenses?
• Debt: What’s your total debt? How much do you owe monthly, and at what interest rate? Are you seeing progress in paying it down? What’s your credit score?
• Savings: Do you save each month? How much do you have in savings? Is it earning interest? Do you have an emergency fund that can cover at least six months of expenses?
• Investments: Do you invest? Where are your investments, and what are they earning? Are they aligned with your long-term financial goals?

Business finance: Track everything from Day One

Whether your business is new or established, tracking your business finances is key to growth. Potential lenders and investors want to see what you’ve done so far—your revenue, expenses, and plans. Knowing your business numbers not only helps you stay on track but also positions you for success when applying for grants or investments.

Essential business finance questions:

• Revenue: How much does your business make each month?
• Expenses: What are your fixed and variable business expenses?
• Profit: Are you operating at a profit (in the green) or a loss (in the red)?
• Marketing: How much do you spend on marketing, and is it driving growth?
• Delegation: What’s the cost of outsourcing or delegating tasks?
• Projections: What’s your projected revenue for next year?

Even in the early stages, knowing your business numbers can make all the difference. Grant judges and investors will want to know how well you’ve managed your income and expenses and how you plan to use any additional funding. They’ll also want to see your business plan, including your financial projections for the next 3-5 years.

Personal and business finance go hand-in-hand

Your personal finance habits often spill over into your business. If you’re disorganized with your personal finances, that will likely carry into how you manage your business finances. You can’t just wipe the slate clean by starting a business. Building strong money habits now will benefit both your personal and business financial success.

In short, get to know your numbers, and you’ll know yourself better as an entrepreneur. Because YOLO? That’s not the motto when it comes to your finances.

Ready to take control of your finances?

There are so many resources available to help you gain financial confidence. If you’re ready to take your finances to the next level, explore free tools and templates from Futurpreneur’s Business Resource Centre. Check out our cash flow templates, including a BESP-specific template designed for Black entrepreneurs.

And for more on Shay’s financial literacy work, visit Finance for the Culture. Stay tuned for details on upcoming Futurpreneur events and Master Your Money workshops to keep building your financial know-how. For a deeper dive into these personal finance basics, Shay recommends Investopedia’s Personal Finance Checkup as a helpful resource.

Five reasons young entrepreneurs should experience the G20 Young Entrepreneurs’ Alliance Summit

Looking to take your business to the next level? A global perspective could be the game-changer you need on your entrepreneurial journey.

The annual G20 Young Entrepreneurs’ Alliance (YEA) Summit brings together some of the most driven young entrepreneurs from across the globe to collaborate, innovate and grow. Hosted by a different international delegation every year, recent iterations of the Summit have taken place in locations ranging from Brazil to India.

As a founding member of the G20 YEA, Futurpreneur is proud to support young entrepreneurs in representing Canadian voices on the world stage, joining a powerful global network. By participating in the annual summit, Canada’s young entrepreneurs have opportunities to gain international insights and contribute directly to the future of global entrepreneurship. Here are the top five reasons why you should consider attending.

1. Join a global network

The G20 YEA Summit offers participants access to an unparalleled global network of entrepreneurs, industry leaders and policymakers from G20 countries. Imagine the possibilities of connecting with over 500,000 young entrepreneurs from diverse backgrounds and industries. You’re not just making contacts—you’re building an international network that can open doors to partnerships, resources and new markets.

“The response was overwhelming,” says Nina Lantinga, CEO and Co-Founder of Nets for Net Zero. “Sharing my journey at the G20 YEA in Brazil led to collaborations I could never have anticipated. It’s a community where shared goals and collective action are more than just words.”

If you’re looking to expand internationally, these connections can be crucial. You’re gaining not only business contacts but also allies who can help you understand market dynamics in other regions, offer new perspectives on challenges and spark fresh ideas for growth.

2. Shape policies that impact global entrepreneurship

As a G20 YEA delegate, you’ll be in a unique position to make your voice heard in international policy discussions. By participating in the policy taskforces at the G20 YEA, young entrepreneurs help shape recommendations presented to global leaders. This is a chance to directly influence policies that can benefit entrepreneurs everywhere.

Bryce Mathew Watts, Founder of Forager International and the Innovation Taskforce Leader as part of the G20 YEA Canadian delegation, emphasizes the impact of these discussions: “It’s an opportunity to bring forward new ideas and solutions to issues that matter to us as entrepreneurs. Knowing our input might reach policymakers makes it worthwhile.”

If you have ideas on innovation, sustainability or diversity, the G20 YEA provides a platform to share those insights. You’re not just learning about policy; you’re actively shaping it.

3. Develop leadership skills in a supportive environment

The summit is more than an international gathering—it’s a place to grow as a leader. Through collaborative projects, discussions and workshops, delegates are able to sharpen their leadership skills while learning from peers who bring unique perspectives and experiences to the table.

Andrea Bomo, a health practitioner and founder of Ann & Eli Apothecary, reflects on her time as the Diversity, Equity and Inclusion (DEI) Taskforce Co-Lead within the G20 YEA Canadian delegation: “Balancing the role with my own business was challenging, but the support from Futurpreneur and my co-lead helped me stay focused. We learned so much about collaboration, project management and leading effectively.”

The experience can be particularly valuable if you’re looking to strengthen competencies in leadership, decision-making and cross-cultural collaboration—skills that are highly transferable to any business setting.

4. Make an impact by advocating for issues you care about

As a delegate, you have a platform to drive conversations around issues that matter to you and your business values. Whether it’s innovation, equity or sustainability, the G20 YEA lets you connect with other entrepreneurs who share your passions. The summit allows you to bring your unique experiences and advocate for positive change.

Kathy Pellerin, Founder of VisaVie Canada and Co-Lead of the Diversity, Equity and Inclusion (DEI) Taskforce within the Canadian delegation, found her purpose in advocating for underrepresented groups. She recalls a team-building activity at the Summit in India where language barriers disappeared as delegates worked towards a common goal: “It was a powerful reminder of what we can achieve when we’re focused on solutions, regardless of background.”

If you’re passionate about social impact, the summit is an inspiring setting where you can champion causes close to your heart and see firsthand the power of collective action.

5. Gain a fresh perspective on entrepreneurship

The G20 YEA Summit goes beyond networking and policy—it offers a space to rethink what entrepreneurship means on a global scale. You’ll get an inside view of how other entrepreneurs and countries tackle common challenges, from scaling a business to embracing sustainable practices. Learning about diverse approaches helps you see new possibilities and rethink how you approach your own business.

As Lantinga shares, “The summit broadens your thinking. You realize that while our challenges are shared, solutions can look very different from one country to another.”

This exposure to diverse perspectives and business practices can broaden your outlook, inspire fresh ideas and leave you with new strategies to tackle issues within your own business.

Ready to join the next G20 YEA Summit? For young entrepreneurs, experiences like the G20 YEA Summit offer so much more than just knowledge—they provide a transformative opportunity to connect with other driven entrepreneurs, shape policies, advocate for meaningful change and gain an international perspective on business. If you’re ready to expand your horizons, gain new insights and take your business to the next level, visit Futurpreneur’s G20 YEA page to learn more about the summit and how you can get involved.

Embracing opportunity: Five newcomer entrepreneur success strategies from the co-founders of Whipdd

Starting a business is always a bold move, but doing so as a newcomer to a new country? That’s a whole new level of daring! Meet Akshay Kalekar and Shruti Priya Agarwal, the dynamic duo behind Whipdd, a fast-growing flavoured butter brand that’s making waves across Canada. Originally from India, they brought with them a wealth of experience in business and culinary arts. With the incredible support from Futurpreneur, they transformed their journey as newcomers into a thriving business success story.

Here are five key success strategies from their journey that can benefit newcomer entrepreneurs like you:

1. Secure the right support: Financing and mentorship are game-changers

For Akshay and Shruti, securing Futurpreneur’s loan with mentorship was a turning point. With access to up to $75,000 in startup financing and guidance from an experienced mentor, they gained the tools needed to navigate Canada’s entrepreneurial landscape. Having the right financial backing and a trusted mentor at your side can make all the difference when you’re launching a business in a new country. It’s more than just funding—it’s about having expert advice to help you overcome challenges and seize opportunities.

2. Be prepared for challenges: Understand the rules and regulations

Starting fresh in a new country during a global pandemic was no easy feat. One of the biggest hurdles Akshay and Shruti faced was navigating Canada’s regulatory landscape. For example, understanding Canadian Food Inspection Agency (CFIA) requirements around food safety, labeling and packaging was overwhelming at first. But through research and persistence, they were able to meet these standards and grow their business. Their advice: take the time to thoroughly understand the regulations in your industry—being well-prepared can save you time and setbacks.

3. Find the right mentor: Align with someone who understands your industry

A key lesson for Akshay and Shruti was finding a mentor with expertise in the Consumer Packaged Goods (CPG) space. Futurpreneur helped them connect with a mentor who understood the ins and outs of their industry, which accelerated their business growth and helped them avoid common mistakes. Their advice: make sure your mentor is aligned with your brand and industry. A mentor with relevant experience can offer invaluable guidance that is tailored to your business needs.

4. Stay flexible: Adapt to challenges and pivot when necessary

Running a business means being ready to adapt to unexpected challenges. For Akshay and Shruti, one of the biggest hurdles was meeting Canada’s food safety regulations, which required them to revamp their packaging. Instead of giving up, they embraced the changes and moved forward. Flexibility and adaptability are key traits for entrepreneurs, especially when facing regulatory or operational challenges. Remember, being willing to pivot when necessary can set your business up for long-term success.

5. Build personal networks: Leverage connections and be persistent

Before securing national brokers, Akshay and Shruti relied on personal connections to get their products into stores. They went directly to store managers and owners with samples of their flavored butters, building valuable relationships along the way. Networking and persistence were critical in their early stages. Their advice: don’t be afraid to knock on doors and introduce yourself. Building personal relationships and being persistent can open doors, even when traditional channels seem out of reach.

What’s next for Whipdd?

Akshay and Shruti have big dreams for Whipdd. They aim to become a household name in Canada’s butter industry, with plans to expand into major retailers across the country and enter the U.S. market by 2025. With their drive, strategic planning and continued support from Futurpreneur, their future looks bright.

Final thoughts for aspiring entrepreneurs

Akshay and Shruti’s journey highlights the power of mentorship, persistence and adaptability. Their story shows that newcomers can overcome obstacles, leverage their cultural strengths and use available resources to succeed in Canada’s entrepreneurial ecosystem. They encourage other young entrepreneurs to focus on time management and networking—two key factors that can help turn your business idea into a thriving reality.

Ready to take the next step?

If you’re a newcomer to Canada and dreaming of starting your own business, Futurpreneur’s My Canadian Startup initiative, presented by TD Bank through their corporate citizenship platform, TD Ready Commitment, offers free workshops, networking events and digital resources to help you launch and grow your business. Learn more about how you can get the support you need to succeed on your entrepreneurial journey with My Canadian Startup.

10 ways to use ChatGPT to level up your small business

As a small business owner, your marketing, communications, business and product development departments probably consist of … just you.

Even if you have a co-founder or administrative assistant to help out with the various tasks that keep your doors open and customers coming in, you’ve likely got enough tasks to keep twice as many people plenty busy. 

Enter the robots! Artificial intelligence, or AI, has reached the mainstream, and a wide variety of AI tools can help you perform a range of tasks that might otherwise cost you valuable time that could be put to better use elsewhere.

What is ChatGPT and what can it do for you?

ChatGPT is a large language model (LLM) program that understands and generates human-like text. One of the most popular AI tools, ChatGPT, like all LLMs, has been “trained” on a massive amount of text from various sources to learn grammar, context, and information on nearly every topic on the internet. The instructions you give ChatGPT are called a prompt, and how you write the prompt influences the quality and relevance of what the bot responds with. 

It’s important to understand that while LLMs can make your business life so much easier in so many ways, they aren’t infallible, and they may not always make sense for every use case (see our Tips section for more about this!) 

Any time you put AI to work for your business, it’s important to proceed with caution and carefully weigh each situation to determine whether using it is appropriate. Additionally, since all chatbots can produce inaccurate or misleading information — and will sometimes create fictional data to provide an example or fill word count — only use what they generate as a starting point rather than a finished product. Thoroughly fact-check it — and put your own spin on it so that it sounds authentic, not robotic.

ChatGPT is free and easy to use, once you get the hang of it — and once you do, it becomes your very own virtual assistant that can understand what you’re asking it to do and respond accordingly as if engaging in a conversation. Here are 10 tasks ChatGPT can perform for you so you can maximize your time and put your focus where it’s most needed.

1. Write your blog

Creating engaging content is a cornerstone of effective marketing, and a blog is a great way to speak directly to your audience to engage them and help them solve a problem. ChatGPT can write an entire blog post in less time than it takes you to tell it what to write. 

Decide on the topic of your blog post, and craft a clear prompt that tells ChatGPT what the topic is and how long it should be. Clearly communicate the main points you want to cover, outline the structure of the blog post, and provide information like the audience, keywords to include, the tone of voice (casual, formal, persuasive), and any additional information you want the bot to include. You can also keep it simple by starting with a general overview and then refining the blog from there with more and more detailed prompts.

Review your blog article for accuracy, clarity, and your brand voice before you post it on your website. Add your own insights, expertise, or personal touch to the blog post. This adds authenticity and value that AI-generated content might lack.

2. Create employee manuals

Whether you own a bakery, boutique, or barber shop, if you have employees, you need an employee manual — and ChatGPT can write it for you. 

In your prompt, tell ChatGPT the structure of the employee manual—list the titles of the sections and the key information you want to include. Give an overview of your company’s purpose and mission. Ask the bot to write an introduction and table of contents.

After ChatGPT generates content for a section, review and edit it to ensure accuracy, clarity, and consistency with your company’s voice and style. You can continue to refine the content by refining your prompts. 

3. Automate social media campaigns

Maintaining a consistent and engaging social media presence is a time consuming and often challenging task for many small business owners. ChatGPT can write and schedule posts, generate content ideas, respond to comments, and even assess the effectiveness of your social media campaigns. 

ChatGPT’s maker, OpenAI, provides API access that allows you to integrate ChatGPT into your social media platform. But before you can use it for social media posts and responses, you need to train it, which involves providing examples of the types of questions and responses you expect from users on social media and the voice and tone of your brand. Identify the triggers that will prompt the chatbot to respond, such as keywords, specific hashtags, or mentions. When the chatbot detects these triggers in incoming social media interactions, it will respond accordingly, based on how you’ve trained it.

4. Generate reports

Using ChatGPT to generate reports requires giving clear instructions and data to the bot and guiding it through the process of creating the report. 

Before instructing ChatGPT, clearly outline the purpose and scope of the report. Identify the key objectives and the target audience, and create an outline for the report — break down the content into sections, headings, and subheadings. 

Collect all the relevant data, information, and sources that you’ll need to include in the report. This could be data from spreadsheets, databases, research findings, or any other relevant sources.

In your prompt, be detailed and specific about what you want to include in each section. For example: “Write an introduction that provides an overview of the report’s purpose and the main topics covered. In the ‘Methodology’ section, explain the research approach and data collection methods. For the ‘Findings’ section, analyze the data from Sheet A in the attached spreadsheet and summarize the key trends.”

5. Brainstorm ideas

Whether you’re looking for fun and innovative ideas for a holiday sale, new products to offer, topics for a blog or white paper, or creative ways to market to a new demographic, ChatGPT can help you brainstorm ideas and get your creative problem-solving juices flowing.

Start by defining the purpose of your brainstorming session — what do you want to get out of it? Craft a clear and specific prompt, such as, “Generate 10 innovative ideas for a new product in the health and wellness industry” or “Brainstorm 25 content topics for a series of blog posts about sustainable living.”

If you’re looking for other tools and information to empower you to take your business to the next level, Futurpreneur can help. Learn more about how you can become a Futurpreneur today, or check out our business resource centre for articles on startup business planning, operation, sales, marketing and more. 

6. Translate anything

In an interconnected business world, language doesn’t have to be a barrier. Using ChatGPT to translate text is simple—just tell it the source language and the target language you want it translated into: “Translate the following text from English to French.” Paste in the text you want to translate.

7. Design surveys

Want to know what your customers’ favorite products are or how satisfied your clients are with your services? Use ChatGPT to create a survey for anything from gauging interest in potential a new product or assessing customer happiness and loyalty.

In the prompt, clearly outline the objectives of your survey. Determine what specific insights you want to gather from respondents—feedback on products, services, customer support, or overall user experience.

Brainstorm and identify the key questions you want to ask in your satisfaction survey. These questions should align with your objectives and cover various aspects of the user experience. Input prompts like “Generate survey questions about customer service” to brainstorm a list of relevant questions, then modify them to fit your specific needs. Tell ChatGPT the type of response scale you want to use, such as a Likert scale (strongly agree, agree, neutral, disagree, strongly disagree) or a numerical scale of 1 to 10.

Set up the survey on a platform like SurveyMonkey, which will collect your data and help you analyze it.

8. Summarize market research

Market research helps you make data-driven decisions by identifying trends, analyzing the competition, and more — and ChatGPT can summarize it for you in a tidy, actionable package.

Collect all the market research data, reports, surveys, and findings that you want to summarize. Review it before you prompt ChatGPT — outline the purpose of the summary and identify the most important and relevant points you want to include in the summary, such as key statistics or customer preferences. 

Create a clear and specific prompt for ChatGPT, such as, “Generate a concise summary of our recent market research findings, highlighting the top three trends and key customer preferences.”

9. Simplify booking and scheduling

Whether your client is booking an acupuncture session or reserving a spot in an art class, ChatGPT can automate appointment scheduling and service bookings. Automated scheduling is a great way to enhance your customers’ experience and reduce human error. 

Choose a platform or tool that will host your ChatGPT-powered scheduling interface — it could be your website, a messaging app, or a dedicated scheduling tool that’s integrated with ChatGPT’s API.

Design an intuitive, user-friendly conversation flow for scheduling — map out the conversation path and identify common scenarios users might encounter when scheduling, such as requesting a particular service provider, rescheduling or canceling an appointment, or checking availability.

Create prompts and instructions for ChatGPT that guide it through the booking process. Be clear and specific about the information you need from the user and how the AI should respond — teach the bot to understand date and time inputs and interpret phrases like “next week,” “Monday at 3 PM,” or “tomorrow morning.”

Incorporate steps where ChatGPT summarizes your client’s booking details, confirms the appointment, adds it to their Google Calendar or Microsoft Outlook, and sends reminders closer to the appointment date.

10. Write ads

Creating ad campaigns, whether they’re print ads, Google Ads, or social media advertisements. ChatGPT can write quality, engaging ad copy, as long as you provide clear instructions and creative guidance.

Clearly define the objective of your ad or ad campaign — do you want to drive sales, increase brand awareness, promote an event, or achieve another specific goal? Give the chatbot information about your target audience — demographics, preferences, pain points, and motivations.

Create a concise and specific prompt that outlines the purpose of the ad, the key benefits or selling points you want to convey. For example, “Generate a catchy Facebook ad to promote our new summer clothing collection for young adults” or “Write an engaging Instagram ad for our online fitness program targeting busy professionals.”

Instruct ChatGPT to highlight the key selling points or unique features of the product, service, or event you’re promoting. This could include benefits, discounts, special offers, and more.

Ask ChatGPT to generate several versions of the ad copy so you can choose the one that best fits with your brand’s voice and resonates with your audience. Edit the ad for clarity, accuracy, and creativity. Ensure that the copy is free of grammatical errors and flows smoothly.

Tips for getting the most out of ChatGPT — and using it wisely

The more you use ChatGPT, the more intuitive your prompts will become, and the better the bot will perform. When using ChatGPT for your small business, it’s important to keep the following tips in mind:

• Quality control: Regularly review and fine-tune the responses provided by ChatGPT to ensure accuracy and align the content with your brand’s tone, values, and messaging.
• Talk to experts: Talk to a lawyer or an expert in your field before you use ChatGPT for use cases that may have intellectual property or other legal and technical implications, such as if you need to own the copyright to the work or you want a bot to write code for your SAAS. 
• Initial training: Spend time training ChatGPT with relevant information about your business to improve the bot’s understanding of your industry, offerings, and specific needs.
• Ethical considerations: Be transparent with customers about their interactions with ChatGPT.
• Terms of use and data privacy policies: Consider privacy and security issues of the text you’re inputting as prompts — especially if it contains sensitive or confidential information. 
• The human touch: While AI can increase your efficiency and take on tasks that would take you hours to complete, ChatGPT and other LLMs can’t fully replicate the human touch. Add your own spin to the content for authenticity, genuine interactions, and an empathetic approach. 

Ready to start your entrepreneurial journey? Get connected with a dedicated team member to learn more about Futurpreneur’s loan with mentorship and resources. Reach out to start your entrepreneurial journey.

Empowered to succeed: Jessica Wylychenko’s Growth Accelerator experience 

Futurpreneur Jessica Wylychenko was interested in accelerating the growth of her small business. The Futurpreneur Growth Accelerator, presented by Spin Master and Lexus Canada, has helped her to do just that. 

Geared towards ambitious Futurpreneurs, the Growth Accelerator program, presented by Spin Master and Lexus Canada, is your launchpad to successfully propel your startup toward rapid growth and success. Participants engage in interactive workshops over an eight-week period, culminating in a strategy pitch competition judged by Spin Master, Lexus, and entrepreneurial ecosystem partners in Toronto. The Growth Accelerator panel of judges includes representatives from Spin Master and Lexus, as well as other partners. The pitch competition awards $10,000 to the Futurpreneur who presents the most compelling vision for growth. 

Jessica’s entrepreneurial journey led to the successful Hudson Bagels, an establishment that has since become a beloved local business in Winnipeg, Manitoba. Reflecting on her journey, Jessica recalls how her passion for entrepreneurship was rekindled during her time with the Growth Accelerator program. 

The Growth Accelerator program provided Jessica with new perspectives and opportunities for her business. Surrounded by passionate entrepreneurs, the program’s environment fueled her ambition, pushing her to think bigger and explore new avenues for growth. Each workshop served as a stepping stone, providing actionable insights and prepping her for future challenges. 

One pivotal session on cash flow management transformed how Jessica viewed her business’s financials. The guidance helped her dive deep into understanding and managing her cash flow, laying a solid foundation for future growth. This newfound financial acumen allowed her to project and plan for her business’s expansion more effectively. 

In today’s business landscape, social impact and sustainability are non-negotiable. While her business was already involved in community initiatives, the Futurpreneur Growth Accelerator two-day summit event and pitch competition in Toronto helped her address sustainability challenges. Inspired by the discussions, she plans to implement small yet significant changes, such as reducing plastic use in packaging and collaborating with delivery companies to adopt sustainable practices. 

Networking played a crucial role in Jessica’s journey. The summit provided a platform to connect with a diverse group of entrepreneurs, industry experts, and even a Futurpreneur board member. These connections opened doors for growth and strategic development, reinforcing the importance of building a robust professional network. 

The pitch competition was a defining moment for Jessica. Her meticulous preparation, clear understanding of the requirements, and extensive practice paid off, despite the nerves of presenting to a large group. Jessica used her pitch as an opportunity to candidly share the ups and downs of her entrepreneurial experience with the Growth Accelerator cohort. The experience underscored the importance of confidence, transparency and preparation in business. 

And the pitch competition winners were… DOUBL. While this wasn’t the result Jessica was hoping for, the experience was still fulfilling. Co-founders Jessica Bosman and Bryn Davis Williams from British Columbia impressed the judges with their innovative business, DOUBL, which specializes in made-to-measure bras powered by AI technology. Learn more about their exciting venture on their website and check out Futurpreneur’s Instagram post celebrating DOUBL’s win. 

A unique activity at the summit involved writing a letter to her future self. Jessica used this exercise to set a vision for her business and remind herself of her potential. It was a moment of reflection and motivation, reinforcing her commitment to growth and self-improvement. 

Jessica’s journey through the Growth Accelerator program was marked by significant learning, growth, and invaluable connections. Her story is a testament to the power of seizing opportunities, continuous learning, and the impact of a supportive entrepreneurial community. Through her experiences, she has not only grown her business but also solidified her role as a passionate and resilient entrepreneur. 

Futurpreneur can help you take your small business to the next level. Benefit from our loan with mentorship and resources, as well as our programs, like the Growth Accelerator, that can empower you, like Jessica, toward your small business goals. 

Learn more about the Futurpreneur Growth Accelerator. 

Top 3 benefits of Futurpreneur’s Indigenous Entrepreneur Startup Program 

The journey of entrepreneurship can be challenging, but with the right support and resources, it can also be incredibly rewarding. For young aspiring Indigenous entrepreneurs, Futurpreneur’s Indigenous Entrepreneur Startup Program (IESP) provides invaluable support to help turn business dreams into reality. Here are the top three benefits of the IESP: 

1. An all-Indigenous team supporting Indigenous entrepreneurs 

One of the key strengths of the IESP is that it is led by an all-Indigenous team. Our team brings deep understanding of the unique challenges and opportunities that Indigenous entrepreneurs encounter. They provide customized programming tailored to the diverse needs of Indigenous communities across Canada. This culturally aligned support ensures that young Indigenous entrepreneurs feel understood, supported, and empowered to succeed in their business endeavours. 

Dustin Murdock, founder of Adapt Physical Therapy in Winnipeg, shares his experience: “When I was first starting to open a business, I was looking at different options for support. The first thing that came up was Futurpreneur. So, I looked into it and realized there’s an Indigenous program I thought would be a good fit for me.” 

2. Ohpikiwin Workshop Series: financial knowledge through an Indigenous lens 

The IESP proudly includes the Ohpikiwin: Journey to financial empowerment workshop series. This series is designed to empower young aspiring Indigenous entrepreneurs with financial knowledge, tailored through an Indigenous perspective. Participants in these workshops gain a deeper understanding of the power of credit and learn how to leverage it to support and strengthen their communities. Presented through an Indigenous lens, this series ensures the content is both relatable and resonant for future Indigenous entrepreneurs. 

3. Comprehensive support: loans, mentorship, and resources 

The IESP offers more than just financial support. In addition to a startup loan, participants receive one-on-one mentorship and access to a wide range of resources to help them start, buy, or grow their businesses. This holistic approach ensures that Indigenous entrepreneurs are well-equipped to navigate the complexities of running a business. Since Futurpreneur’s launch in 1996, we have supported approximately 1,000 Indigenous-led businesses on the path to success. 

Danielle Drudge further emphasizes the value of this comprehensive support: “Futurpreneur offered me a startup loan and helped me do a lot of research that I wasn’t even aware of, that I needed.” 

Empowering Indigenous entrepreneurs for inclusive economic prosperity 

Futurpreneur’s Indigenous Entrepreneur Startup Program reflects our commitment to empowering young aspiring Indigenous entrepreneurs. By providing culturally relevant support and resources, led by our all-Indigenous team, we are committed to playing an important role in advancing Reconciliation. Our team’s unique insights and experiences ensure that the support provided is resonant and meaningful, fostering inclusive economic prosperity in communities across Canada. 

To learn more about Futurpreneur’s Indigenous Entrepreneur Startup Program, click here. 

7 tips to support your mental health as a young entrepreneur

You know that marketing plan you just can’t seem to finish? Or your inability to get a good night’s sleep, or that ongoing, low-grade headache you can’t seem to shake? Those are all very common signs of stress.

There was a time when entrepreneurs of any age avoided speaking about their mental health issues due to a very real stigma. Today, thanks to the willingness of young entrepreneurs to talk and share openly, the topic is slowly becoming front-and-centre at startup networking events, business conferences, on entrepreneur-related blogs, and across social media. Today, most governments, organizations and small businesses recognize stress and anxiety are mental health issues. They exist in every area of business, impact bottom lines and affect people’s quality of life.

Yet, according to a 2023 study conducted by our partner, Business Development Bank of Canada (BDC), Canada’s only bank exclusively devoted to entrepreneurs, specifically, young business owners experience more mental health challenges than others — and they’re less likely to access support. Of even more concern, the study showed the mental health of many young entrepreneurs declined significantly year over year.

Good stress vs. bad stress

Not all stress is bad. In many cases, acute (short-term) stress can inspire, motivate and help us focus our energy and enhance our performance. But it can be challenging to pinpoint concrete causes of good or bad stress because everyone has a different stress threshold and response. 

For example, a new plan to expand your small business might mean extreme stress for you, while another may look at it as an exciting opportunity. Planning a business development event could cause one person “bad” stress while another enjoys the rush and finds the “good” stress inspiring and motivating.

Chronic stress — in some cases, even of the positive kind — can negatively impact your physical and mental health. Here are seven ways you can reduce your stress and protect your mental health so you can enjoy — not dread — navigating your startup journey.

1. Take more (or at least a few) breaks

Many young entrepreneurs are reluctant to take even one day away from their businesses, but regular breaks are vital for your mental health, even if you’re not necessarily feeling stressed. Your body is designed to respond to short bursts of good stress — but even good stress, when prolonged, can become chronic and unhealthy.

If a full-blown vacation isn’t possible, a staycation can do the trick — engage in some self-care, meet friends for lunch, spend time outside or binge-watch movies. When you’re taking a break, turn off your notifications or better yet, ignore business emails, and leave your laptop behind where possible — it’s not a true break if you’re spending time thinking about work.

2. Take care of your physical health

Regular exercise is a great way to let off steam, clear your head and improve your mood. Throughout the day, strive to move your body at least once an hour — take a short walk, do some yoga or dance around the house or office to your favourite tunes. Get at least 30 minutes of exercise most days of the week.

A healthy diet is also good for your mental health. Consider weekly meal prepping to get ahead of the “what’s for dinner” game, which is a real source of stress — and fast-food binges — for many. For some tips and inspo, check out these meal-prep YouTube videos. 

Finally, get ample sleep, which is essential for optimal physical and mental health — and a better mood. Go to bed and get up at the same time every day to help your mind and body get into a solid sleep routine.

3. Shift your mindset

A healthy perspective can help reduce your stress. Start by acknowledging your accomplishments, and work to keep your perfectionist tendencies in check. Reframe negative experiences to find the opportunities in them. If you have the bandwidth or financial wherewithal, consider cognitive behavioural therapy (CBT) or free resources like those offered by the Canadian Mental Health Association (CMHA). 

If you’re stuck in a dark place, plant yourself in the present moment — pet the dog, hug the kids or indulge in a really great cup of coffee to help lighten your mood. Practice daily gratitude to help shift your mindset to one of abundance. Consider starting a gratitude journal, in which you list the things you feel gratitude for. You’ll find there are no shortage of ways or tools you can use to help you get yours going. 

4. Don’t go it alone

Feelings of isolation contribute to stress for entrepreneurs, and nurturing your relationships with friends and family can help ensure you have someone to talk to about both business and personal issues. Be realistic about what you need to handle personally, and in business, and delegate tasks to your staff or external contractors where feasible.

5. Talk about it

It’s important as a young entrepreneur to speak honestly about your struggles. If someone asks, “How are you doing?” (and really wants to know), it’s okay to say, “Not so great.” As the saying goes, it’s okay to not be okay. 

If you feel like you don’t have anyone to talk to, candidly, this is another instance where you may want to consider online therapy — especially during periods of high stress. Executive coaching can also be a great way to get support on your entrepreneurial journey.

6. Join a support group

If you’re feeling the stress of running a business or you lack work-life balance, you can be sure there are other young entrepreneurs who feel the same way.

Look for groups who gather in your area to discuss similar issues and solutions. They don’t have to specifically be support groups. Networking groups that meet regularly can also help you cultivate relationships with other entrepreneurs and provide you with opportunities for helpful discussions and interactions. Talking to your peers who may be facing similar challenges or problems to you can be powerful and difference-making.

Not ready to speak your truth in person? You can look online for support groups made up of others feeling the pressures of being a young entrepreneur.

7. Ask for financial help and advice

Money is a major stressor for any entrepreneur. If you’re experiencing challenges with cash flow, revenue generation or your supply chain, there may be ways your suppliers, lenders and ecosystem can help — but you won’t find out unless you ask.

Your lenders may suggest solutions that you had no idea were even options, including restructuring loans, deferring payments, delaying shipments or financing purchase orders. For example, during the 2023 summer wildfires, which affected small businesses across Canada, here at Futurpreneur, we provided relief programs to entrepreneurs who were affected, either directly or through their supply chain. It’s always worth exploring how your ecosystem can support you through tough times.