Did you know millennials are twice as likely to start a business in the next year, compared to other generations? Entrepreneurship is often an attractive option for millennials looking for flexibility and purpose-filled work.
Enter Bailey Roth and Carly Silberstein—a great example of ambitious young entrepreneurs. They recognized a gap in the event and association management industry, so they took things into their own hands to create the Toronto-based Redstone Agency.
The pair (who serve as President and CEO) created Redstone to help organizations reach a millennial audience through event management, association management, digital solutions and consulting. Essentially, Redstone Agency works with professional associations to engage the future leaders of their organizations and their industries.
BMO and Your Financial Life sat down with Bailey and Carly to pick their brain about what drives their business. Here’s what they had to say…
Advice for other business owners
Striking out on your own and starting a business can be like completing a difficult puzzle. It’s tough to get all the right pieces together, while focusing on the big picture and all the little details. But with determination, anything is possible.
“To anyone considering starting their own business I would say that it takes a lot of time and dedication,” says Silberstein. “But if you have both of those things and passion, just jump right in and you’ll definitely be successful.”
At Redstone Agency, Bailey and Carly are passionate about serving their clients and ensuring their success. Their tagline makes that clear: “Your success is critical to ours.”
On core business values
The company was founded on four core values that help to drive the company forward and explain the how, why and what behind every project. These values are:
- Impact—using digital technology tools for a maximum impact
- Trust—creating an honest and open relationship
- Extra mile—going beyond what is expected and exceeding expectations
- People—creating a partnership based on respect
Using these values and their skill set, the driven duo have been able to catapult their business to success in just a short time (they started Redstone in 2015).
On celebrating success
Bailey and Carly celebrate their business success by strategically reinvesting back into their business: “When we do well financially, we want the company to do well,” says Roth. “We want to grow and continue to grow so our successes go back into the company and we share them as a team.”
How BMO supports their business
If you’re thinking of starting your own business, it’s important to have the right tools and resources to support your business—especially when it comes to your business finances. For Bailey and Carly, BMO plays an integral role in providing that support.
“BMO understands the shared service model,” says Roth. “They understand what our clients do, and they take the time to learn about what we do to help us leverage our relationships as well.”
Want to learn more? Check out RedstoneAgency.ca for more info.
Are you interested in starting your own business and need small business advice? Find out how BMO can help you get started. Plus, meet more entrepreneurs and get small business tips in our Small Business Spotlight series.