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Writer's pictureChris Herbert

Mi6 Round Up: October 2024

Updated: Oct 13, 2024



At Mi6, we curate these round ups to deliver essential, actionable insights that matter to entrepreneurs and marketing professionals like you. We sift through the noise to bring you the strategies, trends, and innovations that can genuinely move the needle for your business.



 

OCT 13 UPDATE

The Power of Customer Marketing: How to Drive Growth with Existing Customers

Customer marketing focuses on leveraging existing customers to drive repeat business and foster brand loyalty. Shopify highlights strategies like personalized email campaigns, loyalty programs, and customer advocacy to turn one-time buyers into long-term supporters. Entrepreneurs should prioritize customer retention by offering value through tailored experiences, upselling, and engaging with their community to maximize lifetime value and reduce acquisition costs, ultimately leading to sustainable business growth.


How TikTok is Empowering Businesses to Reach Global Audiences

TikTok is helping businesses of all sizes connect with global audiences through creative and authentic content. With tools like TikTok For Business, brands can create impactful ads, engage with communities, and tap into trending content to boost visibility. Entrepreneurs should harness TikTok’s unique platform to build brand awareness, develop organic connections, and drive sales by embracing short-form video storytelling that resonates with a highly engaged, diverse audience.


Why Return-to-Office Mandates Could Signal the Right Time to Start a Business in 2025

Return-to-office mandates are creating shifts in the workforce, offering opportunities for aspiring entrepreneurs. As employees seek flexibility, many are leaving traditional jobs, opening up a growing pool of talent and unmet market needs. Entrepreneurs can capitalize on these trends by offering remote-friendly services, flexible business models, or innovative solutions that cater to the evolving work environment, making 2025 an ideal time to launch a venture.


Using Content Marketing to Solve Common Business Challenges

A solid  can help resolve key business challenges like customer acquisition, brand awareness, and customer retention. By creating targeted, high-value content, businesses can address pain points, educate their audience, and build trust. Entrepreneurs should focus on consistency, aligning content with business goals, and using analytics to refine their approach, ensuring content not only engages but also supports long-term growth and problem-solving within their company.


How Small Businesses Are Using Community to Adapt to Change

Small businesses are increasingly relying on community support to navigate changing economic conditions. By building local networks, collaborating with other businesses, and engaging with customers, entrepreneurs are creating resilient business models. Leveraging community relationships helps businesses adapt to challenges such as supply chain disruptions and labor shortages. Entrepreneurs can strengthen their adaptability by fostering community engagement, sharing resources, and maintaining strong customer relationships to weather uncertainties.


Why Gen Z Entrepreneurs Are Skipping University to Pursue Business

Many Gen Z entrepreneurs are opting out of traditional university paths in favor of starting their own businesses. They prioritize practical experience, mentorship, and leveraging digital platforms to build ventures over formal education. With lower barriers to entry in e-commerce, social media marketing, and tech, young entrepreneurs see greater value in hands-on learning. For aspiring business owners, this trend underscores the importance of adaptability, creativity, and self-directed learning in today’s entrepreneurial landscape.


Scotiabank Invests in Local Growth by Supporting Peterborough’s ScaleUP Program

Scotiabank is backing Community Futures Peterborough’s ScaleUP program, aiming to accelerate the growth of local businesses. The initiative provides entrepreneurs with mentorship, resources, and funding to scale their ventures. This partnership emphasizes the bank's commitment to community development, highlighting the value of corporate support for small business ecosystems. Entrepreneurs can benefit from such programs by accessing critical tools for sustainable expansion and long-term success.


How Small Businesses Are Driving Foot Traffic with Creative Social Media Strategies

Small businesses are using creative social media tactics to increase foot traffic. From behind-the-scenes content to local partnerships, businesses are engaging with their communities in authentic ways. Entrepreneurs can leverage platforms like Instagram and TikTok to showcase unique offerings, run promotions, and build strong local connections, translating online engagement into in-store visits. The key is consistency and creativity, making social media a powerful tool for local growth.


How Small Businesses Can Take Advantage of AI to Boost Growth

AI technology offers small businesses powerful tools to streamline operations and enhance customer experience. From automating administrative tasks to personalizing marketing and improving decision-making with data analytics, AI can drive efficiency and growth. Entrepreneurs should start by integrating accessible AI tools like chatbots, predictive analytics, or automation platforms to reduce costs, boost productivity, and scale more effectively, ensuring they stay competitive in an increasingly digital marketplace.


Small Business Owner Uncertainty Hits Record Highs: How to Navigate It

Small business owner uncertainty has reached record levels due to economic fluctuations, inflation, and labor market challenges. To navigate this, entrepreneurs should focus on building financial resilience, diversifying revenue streams, and staying agile with contingency planning. By monitoring cash flow closely and leveraging digital tools to streamline operations, small businesses can mitigate risks and adapt more effectively to ongoing market changes, ensuring long-term sustainability amidst unpredictability.


UNL Student Entrepreneurs Find Struggle and Success in Building Small Businesses

UNL student entrepreneurs are navigating both challenges and triumphs in launching small businesses while balancing academics. These young founders face difficulties like managing finances and time, but also experience growth through innovation and community support. Their stories highlight the importance of perseverance, mentorship, and leveraging campus resources. For student entrepreneurs, overcoming these struggles can lead to valuable learning experiences and successful ventures.


The Toxicity of the Silicon Valley Entrepreneurship Model and Better Alternatives

The Silicon Valley entrepreneurship model is often criticized for promoting a high-stakes, growth-at-all-costs mindset, leading to burnout and unsustainable practices. The article explores alternative models that prioritize long-term sustainability, work-life balance, and ethical growth. Entrepreneurs can benefit by embracing these alternative approaches, focusing on steady, values-driven growth rather than the intense pressure of rapid scaling often associated with Silicon Valley culture.


Should You Start a Business with Your Friend? 4 Reasons to Try ‘Friendpreneurship’

Starting a business with a friend—or ‘friendpreneurship’—can be a smart move when approached carefully. The article outlines four reasons why it can work, including shared trust, complementary skill sets, and stronger communication. However, clear boundaries, aligned goals, and formal agreements are key to ensuring the friendship and business thrive. Entrepreneurs should focus on transparency and setting clear roles to turn a friendship into a successful partnership.


No Days Off: Why Your Small Business Marketing Should Include Weekends

Your small business marketing strategy shouldn't ignore weekends, as consumers often have more time and availability to engage. The article emphasizes that weekend marketing efforts can capture attention when competitors may be less active, offering a competitive edge. Entrepreneurs should schedule social media posts, run weekend-specific promotions, and engage with customers when they’re most likely to be browsing, ultimately boosting visibility and sales during high-traffic times.


How Digital Marketing Fuels Business Success

Digital marketing plays a crucial role in driving business growth by enabling companies to reach wider audiences at a lower cost. The article highlights strategies like search engine optimization (SEO), social media engagement, and email marketing

as key tools to attract and retain customers. Entrepreneurs should focus on creating targeted, data-driven campaigns to maximize their marketing efforts, boost brand visibility, and ultimately increase sales in today’s digital-first marketplace.


Is Marketing Dead for High-Expertise Fields? Excellence is the New Currency

In high-expertise fields, excellence is replacing traditional marketing. The article argues that for industries requiring deep expertise, demonstrating value and thought leadership through exceptional work can drive business growth more effectively than standard marketing campaigns. Entrepreneurs in specialized fields should focus on delivering high-quality service and building a strong reputation, leveraging their expertise as the primary way to attract and retain clients.


Building Market Share by Embracing Digital Transformation

Embracing digital transformation is key to gaining market share in today's competitive landscape. Businesses are using technology to streamline operations, enhance customer experiences, and improve decision-making. The article emphasizes that adopting digital tools like automation, data analytics, and e-commerce platforms can help companies stay agile and responsive. Entrepreneurs should focus on integrating digital solutions to boost efficiency, drive growth, and stay competitive in an increasingly tech-driven market.

 

OCT 6 UPDATE

How to Build a Product Customers Love: Lessons from Klaviyo's Journey to $1B in Revenue

Klaviyo CEO Andrew Bialecki shares insights on building a product customers love, focusing on customer obsession, data-driven development, and iterative improvement. He emphasizes understanding real customer needs, keeping the user experience simple, and fostering a culture of continuous feedback. Entrepreneurs should prioritize direct customer insights to create scalable solutions that resonate, turning passionate users into long-term revenue drivers, much like Klaviyo's $1B journey illustrates.


How TikTok Helps Small Businesses Maximize Shopping Potential

TikTok is transforming e-commerce for small businesses, offering tools like TikTok Shop and shoppable ads to drive sales. The platform’s algorithm amplifies visibility, allowing businesses to connect directly with interested audiences. Entrepreneurs should leverage TikTok’s interactive features—like live shopping and engaging video content—to build authentic connections, boost conversions, and tap into younger demographics, maximizing their shopping potential with a creative and community-driven approach.


Doubling Down on ABM: Key Insights from B2BMX East 2024 on Buyer Behaviors

B2BMX East 2024 highlighted the importance of understanding buyer behaviors to enhance Account-Based Marketing (ABM) strategies. Experts emphasized data-driven personalization, multi-channel engagement, and aligning marketing with sales for deeper insights into target accounts. Entrepreneurs should focus on leveraging behavior analytics to create personalized ABM campaigns, ensuring content relevance at each stage of the buyer journey, which ultimately leads to stronger relationships and improved conversion rates.


Harnessing the Power of Account-Based Marketing for Small Businesses

Account-Based Marketing (ABM) offers small businesses a way to maximize marketing impact by targeting specific high-value accounts with personalized campaigns. This approach allows for more efficient use of resources and higher conversion rates. Entrepreneurs should start by identifying ideal clients, aligning sales and marketing teams, and creating tailored content to engage key stakeholders, ensuring efforts are focused on prospects that are most likely to convert into long-term, valuable customers.


How Newcomer Entrepreneurs Are Driving Growth in Canada

Square’s Newcomers Report reveals that immigrant entrepreneurs are playing a key role in driving business growth across Canada. Many newcomers bring diverse ideas and unique business approaches, significantly impacting local economies. The report highlights the importance of accessible financial tools and community support to help these businesses thrive. Entrepreneurs can draw lessons from this by embracing diversity and leveraging digital solutions to build resilience and growth in their ventures.


Government Support to Reduce Costs and Boost Growth for Small Businesses

The Canadian government has announced significant new support to help small businesses reduce costs and spur growth. Initiatives include tax relief, reduced regulatory burdens, and enhanced access to funding programs. Entrepreneurs should take advantage of these measures to lower operational expenses and invest in growth initiatives. Understanding and leveraging such government support can provide crucial financial relief and competitive advantages in today’s challenging business environment.


Knowing When to Call It Quits: Essential Advice for Entrepreneurs

Entrepreneurs must recognize when to call it quits on a venture that no longer serves its purpose or drains resources without results. The article highlights key signs, such as diminishing returns, lack of market fit, or personal burnout, that indicate it may be time to pivot or close down. Entrepreneurs should regularly assess their business’s viability, understand sunk costs, and have the courage to make tough decisions to safeguard long-term financial and personal well-being.

 

OCT 1 UPDATE

Preserving Culture: How One Entrepreneur Brings the Cree Language Mainstream

St. Albert entrepreneur Delree Dumont is bringing the Cree language into the mainstream through her company, Native Del Creations. By creating products featuring Cree syllabics, Dumont aims to promote cultural preservation and education. Her efforts include apparel, art, and partnerships with schools to foster Indigenous language learning. Entrepreneurs can take inspiration from her focus on combining cultural heritage with commercial ventures, highlighting niche market opportunities that align with broader social causes.


Pop-Up Power: Boosting Women Entrepreneurs Through Community Showcases

A Fredericton pop-up shop highlighted women entrepreneurs, showcasing diverse local businesses. The event aimed to support women-led ventures, offering exposure and community engagement. Entrepreneurs can take a cue from this model by leveraging pop-up shops as cost-effective ways to test new markets, gain visibility, and establish direct customer relationships. Such events also foster collaboration among small businesses, boosting collective growth while emphasizing local economic impact.


Fueling Growth: How Grey County Grants Empower Local Business Expansion

Grey County businesses are experiencing growth, driven by new grant programs and community support. Local entrepreneurs have leveraged these grants to expand their operations, upgrade technology, and boost sustainability. Business owners should consider seeking similar regional funding opportunities to accelerate growth, modernize infrastructure, and enhance community ties. Highlighting local success stories can also improve customer loyalty by showcasing the positive impact on the community.


Understanding B2B Website Development Costs: What Your Business Needs to Know

The cost of B2B website development varies from $10,000 to over $100,000, depending on factors like complexity, customization, and integrations. For entrepreneurs, understanding this cost spectrum helps in budgeting effectively for features such as e-commerce capabilities, CRM systems, or custom designs. Prioritizing user experience and scalability in the initial investment can enhance lead conversion and long-term ROI, especially in B2B markets where functionality directly influences business relationships.


Save Time, Create Better: How AI is Revolutionizing Content Creation for Entrepreneurs

AI content creation tools are transforming marketing, allowing entrepreneurs to produce blogs, social posts, and product descriptions more efficiently. Shopify highlights tools like ChatGPT and Jasper that streamline content workflows, helping businesses maintain consistent messaging with minimal effort. Leveraging AI for content generation can save time and reduce costs, while allowing small teams to focus on strategic aspects like brand storytelling and audience engagement, essential for scaling marketing impact effectively.


The Undeniable Power of Email Marketing: Why It Still Drives the Best ROI

Email marketing remains a powerful tool for businesses due to its high ROI, personalization options, and direct customer engagement. The article emphasizes building segmented lists and crafting tailored content to maximize open and conversion rates. Entrepreneurs should focus on nurturing relationships through targeted campaigns, automated follow-ups, and value-driven content, which can drive repeat purchases and foster brand loyalty more effectively than many other marketing channels.


Delta V 2024: How AI Tools are Redefining Venture Creation for Entrepreneurs

Delta V 2024 spotlights AI's role in venture creation, highlighting tools that help entrepreneurs innovate more effectively. From AI-driven market research to product development tools, leveraging these technologies can streamline startup processes. Key insights include using AI for rapid prototyping and scaling customer service. Business owners should explore these tools to reduce costs and stay competitive, particularly in early-stage development where AI can significantly cut down on time and resource expenses.


Empowering Women Entrepreneurs: Building Leadership and Visibility for Business Success

Patricia Muir’s blog on empowering women entrepreneurs emphasizes the importance of visibility and leadership. She advises women to actively cultivate their personal brand, leverage networking opportunities, and prioritize self-promotion to drive business success. Entrepreneurs can apply these strategies to enhance credibility, expand influence, and seize leadership roles in their industries, ultimately leading to greater opportunities and a more powerful business presence.

 

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Chris Herbert
Chris Herbert
06 oct 2024

Tik Tok shop, last we checked, is not currently available in Canada. Let us know if this is no longer the case by commenting below.

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