With Hockeystick, Futurpreneur Canada is measuring impact and making it grow.
Futurpreneur Canada (Futurpreneur) provides startup financing, mentoring and support tools for young Canadian entrepreneurs. For two decades, Futurpreneur has fueled entrepreneurial passion by offering an array of resources, services and events across the country.
Leaders at Futurpreneur turned to Hockeystick to help them collect better insight about their entrepreneurs and the effectiveness of their programs. Listen to their Communications Manager and Senior Program Manager talk about how they use Hockeystick.
Established in 1996, Futurpreneur is the only national, non-profit organization that provides financing, mentoring and support tools to aspiring business owners aged 18-39. As of March 31, 2016, Futurpreneur has issued almost 7,500 loans to entrepreneurs whose businesses have created more than 35,900 new jobs and over $224 million in tax revenue.
When it came time to improve their reporting process, key decision-makers were looking for a solution that addressed the organization’s challenges with data collection.
Hockeystick: What is your mission at Futurpreneur?
Meghan Paton, Public Relations and Social Media Manager: To play an integral role in the entrepreneurship experience of Canadians aged 18-39 by providing financing, mentoring and tools that will help them build sustainable businesses. We are the only non-profit organization in Canada that does this.
Hockeystick: And how does data fit into that mission?
Nick Yeo, Senior Program Manager: Data is an increasingly essential element of business intelligence. With good data, we don’t have to guess how everyone and everything is doing, and it allows us to make more analytical, data-driven decisions.
Meghan: Keep in mind that as a non-profit, we rely on funding from partners to offer the programs and services that we do. It’s critical that we collect this information to illustrate the impact of our work.
Hockeystick: What’s it like at Futurpreneur ‘before and after’ Hockeystick?
Nick: Before Hockeystick, we would send out quarterly status reports that had very low response rates—around 20%. But with Hockeystick, we completely flipped that number. I can confidently say that our response rate is now over 85%.
Meghan: The biggest impact Hockeystick has had on our organization so far is that it helps us collect, manage and present data in a meaningful way. We now get a timely view of our operations and can proactively address issues as they come up.
Hockeystick: So Hockeystick has really changed the way your team is operating and making decisions.
Nick: It has. The Hockeystick platform makes business intelligence faster and easier. It’s given us more insight into our clients’ experience and allowed us to understand where we’re excelling and areas that need attention.
Hockeystick: What is it like working with the Hockeystick team?
Nick: We’ve worked with a lot of vendors, and know that it can be challenging when you’re working with someone who is off-site, managing other clients and requires time to get up to speed on your business. Before we even started building this solution, the Hockeystick team took a lot of time to meet with us and understand our business. At every point in the process, we’ve always felt like their number one client.
Meghan: I agree. When we first started using Hockeystick, it was only for our financing and mentoring program. Recently, we onboarded a new program, and that process happened quickly and easily. We’re looking forward to doing more with the team as we have new programs and needs.
Hockeystick: What sort of customization options has Futurpreneur taken advantage of?
Nick: The email trigger is a key value-add. It determines what report an entrepreneur needs to fill out and has made our reporting process more seamless. The other neat customization is the summary reports. Essentially, they show us a snapshot of what’s happening with our portfolio. The types of data we’re looking for has been quite different than Hockeystick’s other clients, so the ability to view this information in a report that meets our business needs is a testament to the team’s flexibility.
Hockeystick: What would the impact be if you didn’t have Hockeystick?
Nick: Without Hockeystick I think we'd be a lot less responsive, and I think ultimately we would be less effective. Data allows us to build the best experience for clients and connect with them.
Meghan: Every day we find the software more valuable. It's really helping us drive organizational performance and better serve young Canadian entrepreneurs.