- Build it and they will come, if you hire smart
- How a venture capitalist knows your deal is weak
- What Canadian entrepreneurs need to know before pitching to investors
- Raising capital or bootstrapping the decision that could make or break your start-up
- There is only one way to meet a venture capitalist
- Valuing your tech start-up is harder than you think
- Friends rarely make the best business partners
- A smart entrepreneur’s guide to choosing the right VC
- Choosing an investor is like choosing a spouse (but with less romance)
- Not much difference between angel investors and VCs anymore
- What to do if your startup is suffering founderitis
- How risk and failure drive entrepreneurial success
- Beware of the revolving-door venture capitalist
- Getting an investor to move from “not now” to “yes”
- Talk to your venture capitalist before you crash and burn
- Entrepreneurs need to know when to call it quits
How Canadian entrepreneurs can build a winning start-up team
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When examining the who, what, where, when and why of any start-up, it’s the who that will most directly impact the level of success that is achieved. Making the right connections and finding the right people will be entirely reflected in the management team, staff, advisory board, customer list and availability of capital.
While that statement may seem obvious enough, few entrepreneurs succeed in networking to such a degree that they tower above all others as they build their companies. When mentoring entrepreneurs, one of the most common questions is how to find partners, management team members, advisors and investors.
One CEO I once worked with was a networking powerhouse. He knew he needed a great management team before he could attract capital, so he created a list of 10 dream team executives for each of the three critical leadership roles in his company. He went after each one with a pitch—treating it like a sales process. Of course, he couldn’t afford them, but that didn’t matter. If he could convince them his company offered tremendous growth potential, there were numerous ways to attract and compensate top talent through equity participation. He performed the same exercise when building the board.
 Proven strategies to connect with investors, hire top talent, and grow your Canadian startup in a competitive market. |
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Industry events still offer a great way to make meaningful connections, but today’s networking landscape has evolved. In-person conferences remain valuable, but online networking is just as important. LinkedIn, virtual start-up communities, and curated industry groups have become powerful ways to find the right people. Entrepreneurs who only focus on in-person networking are missing out on a world of connections that can be made from anywhere.
At conferences, tabling yourself with the group you came with is a wasted opportunity, as is spending networking breaks with people you already know. Always have at least three goals for every event: identify people who can help your company, understand emerging industry trends, and make meaningful new connections. Many events now provide attendee lists in advance. Instead of waiting until you arrive, research key attendees beforehand. Highlight those who fit your needs, look up their profiles, and—if appropriate—connect on LinkedIn before the event to increase the chance of a warm introduction.
While introductions through mutual contacts are ideal, cold outreach remains one of the most effective ways to engage with potential hires, advisors and investors. The key is in the approach. Instead of saying, “I’m Mike, looking for a VP Sales,” it’s far more effective to say, “I’m Mike, seeking feedback about my start-up from people with your level of sector experience.” Out of 10 cold calls like this, you will get into the majority of meeting requests—but only if your request is genuine. If this person has significant industry experience, you should be listening to their advice regardless of whether they join your team. You won’t get an agreement in the first meeting, but you’ve started a relationship that could pay off down the road.
For Canadian entrepreneurs, the right talent may not always be in the immediate network. Many of the best hires, investors and partners are found in the second-degree and third-degree networks of your existing contacts. This is where platforms like LinkedIn, tech accelerators, and investor networks such as the Canadian Venture Capital and Private Equity Association (CVCA) or Startup Canada can be invaluable.
Entrepreneurs often believe they need to rely solely on private investors, but Canada offers numerous government programs that can help start-ups secure funding and attract top talent. Organizations like the Business Development Bank of Canada (BDC), the Industrial Research Assistance Program (IRAP), and regional development agencies provide financing and mentorship, reducing the early-stage financial burden and making it easier to build a strong team.
Expanding beyond local networks is also critical in Canada’s bilingual and regionally diverse business landscape. Montreal and Quebec City are thriving in AI and deep-tech sectors, but networking there may require some French-language skills. Toronto, Vancouver and Calgary dominate finance, tech and energy start-ups, while government contracts and funding often require bilingual capabilities. Understanding these regional differences can help entrepreneurs connect with the right partners and opportunities.
Beyond personal networking, joining a start-up incubator can help connect entrepreneurs to seasoned mentors, investors and advisors. Programs like MaRS Discovery District, Creative Destruction Lab, and Communitech offer structured networking that accelerates company growth. Many of these programs also provide access to non-dilutive funding and government partnerships, reducing the need for early-stage equity dilution.
Top talent is hard to attract—but it’s even harder to retain. The attraction of great people is a wasted effort if you’re not prepared to let them lead in their area of expertise. It takes discipline and maturity to hand off a portion of the company and trust others to execute. They will do things differently than you, and that’s the point. Can you put your ego aside to bring in people bigger than yourself, listen to their opinions and get out of their way?
Many entrepreneurs attract good talent, only to lose them when they realize the founder is still trying to micromanage everything. Investors notice this too—if you can’t trust top-tier executives to lead, your company will not scale.
Today, entrepreneurs don’t need to limit their talent search to their immediate city or province. With remote work and programs like Canada’s Global Talent Stream, top-tier professionals can be hired from anywhere, making international networking just as important as local connections.
Which leaves one final question: are you the only thing standing in the way of your company’s success?
Warren Bergen is the author of Swagger & Sweat, A Start-up Capital Boot Camp.
The views, opinions, and positions expressed by our columnists and contributors are solely their own and do not necessarily reflect those of our publication.
Troy Media is dedicated to empowering Canadian community news outlets by providing independent, insightful analysis and commentary. Our mission is to support local media in fostering an informed and engaged public by delivering reliable content that strengthens community connections, enriches national conversations, and helps Canadians better understand one another.
