Export smarter: Tips from new EDC podcast host Bruce Croxon

Doing business in global markets takes resilience, strategy and the right expertise. For Canadian exporters, having a trusted mentor in your corner can be the key to success.

Enter Bruce Croxon. You may know him as the co-founder of Lavalife, an early online dating platform, or as a dragon on CBC’s Dragons’ Den, a reality TV show where entrepreneurs pitch their business ideas to investors in hopes of securing financing. Now, he’s sharing his expertise as the host of the second season of Export Development Canada’s (EDC) Export Impact Podcast.

A lifelong entrepreneur, Croxon has a lot of respect for anyone trying to grow their own business. “I know how hard that is,” he says. “I know getting from zero to $5 million or $10 million in sales— which is still considered a very small business—it’s a very tough thing to do. The people we’re going to be talking to this year are doing it.”

This season, Croxon speaks with trade experts and business leaders to share insights and advice to help Canadian businesses stay resilient in uncertain times. 

Inspired by his father, who immigrated to Canada “with $40 and a Grade 8 education,” Croxon says he understands the benefits of working hard and surrounding yourself with the right people.

“I’ve always done my own thing and tried to carve my own path,” he says. “I’m very familiar with two steps forward and one step back.”

His first big break came with Lavalife, a pioneering online dating platform that changed how people connect. “I co-founded what was arguably the first online dating site in the world,” he says. “We were breaking new ground back in the late ’80s, mid-’90s.” Lavalife quickly attracted millions of users in Canada, the United States (U.S.) and Australia.

Croxon later joined the long-running show, Dragons’ Den, in its sixth season, spending three years providing funding, mentorship and strategic advice to Canadian startups. He credits the show with shifting his career from operator to investor, enabling him in 2013 to found Round13 Capital, a venture capital firm.

More than just providing a cheque, he says Round13 aims to share “expertise and advice to help small businesses become medium-sized business.”

When he’s not working as an investor, or hosting the Export Impact Podcast, the proud father of two likes to ski, play tennis and surf. This love for adventure complements his approach to work.

“I try and travel pretty light, but still focused on the investments that Round13 has made and making sure we’re continuing to grow and advise the entrepreneurs we’ve cut cheques to,” he says.

Croxon knows firsthand the risks and challenges of exporting. During Lavalife’s early expansions into the U.S. and Australian markets, he and his co-founders faced unique challenges.

“We took a bold step on a hunch that people wanted to get together wherever they might be in the world,” he says. But they quickly discovered that customer preferences varied, and local services needed to reflect these differences.

For example, in San Francisco, their first U.S. market, customers preferred a personal, community-based approach. “(Knowing) that they were from the local area seemed to make a big difference to their comfort and their familiarity with our product,” Croxon explains. This experience shaped their strategy for adapting technology and marketing in new regions.

It also helped him see the value of having expert guidance when entering new markets. “There were nuances to each market that we had to become aware of along the way,” he says. “If I had had EDC advice earlier, it would've saved us some time.”

Drawing on decades of experience, Croxon offers valuable advice to help business leaders and entrepreneurs succeed in Canada and abroad.

1. Solve a real problem: Focus on creating solutions for universal human needs, which makes products and services more adaptable to international markets. “It really makes a big difference if you're solving a real problem,” he says, adding, “The bigger the problem you’re solving, the less you’ll need to spend on marketing.”

2. Be selective about opportunities: “One of the characteristics that make people entrepreneurs in the first place is that they see opportunity around every corner,” he says. While that’s a great quality, it can lead to overextension. He quotes a former business partner who used to say, “Focus is choice,” emphasizing the importance of prioritizing opportunities that align with long-term goals.

3. Invest in the right people and partners: “You need to put an extraordinary amount of time into making sure that you choose the right people and partners to work with,” Croxon says. He advises finding trusted partners who share your core values and can support you through challenges.

4. Build relationships through trade shows and associations: He advises businesses to connect with local buyers and distributors at trade shows, or industry meetups. "It’s very difficult to replace what you get from a face-to-face meeting,” he says.

5. Stay agile and prepared for rapid change: In today’s global markets, opportunities won’t wait. “Supply chains, logistics and technology have helped all of this move a lot faster,” he says. “You need to be in a position to be agile and take advantage of opportunities as they arise.”

6. Research foreign markets: It’s key to understand your target market, legal infrastructure and regulations. “Understanding how different markets react to disputes, how you get paid—if you’ve provided a product or a service and there’s trouble with the money coming your way, what do you do? Every market’s different,” he says.

7. Learn from mistakes: “I call it my 51/49 rule as an entrepreneur: 51% of the time, you’re moving the ball ahead; 49% of the time, you’re taking it in the teeth,” Croxon jokes. Taking it in the teeth, or making mistakes, is inevitable, but he urges entrepreneurs to see setbacks as opportunities to learn and refine their approach. 

Croxon brings entrepreneurial expertise and a passion for learning to season two of the Export Impact Podcast. “I’m a curious guy by nature,” he says. “I love asking questions and I love learning about people’s endeavours.”

He’ll talk with trade experts in promising global markets such as the Indo-Pacific and Latin America, and leaders from innovative companies, including:

• Big Mountain Foods, a family-run, plant-based food company in Vancouver
• Alvéole, a Montreal company that integrates beekeeping into urban commercial spaces

Through candid discussions, Croxon will explore strategies for scaling internationally, expanding into emerging markets and the importance of diversification. Whether you’re just beginning your exporter journey or refining your global strategy, you’ll find actionable advice and insights to help you succeed.

Listen to the Export Impact Podcast on the EDC website, or subscribe on Spotify, Apple or Amazon Music, and start turning your global business goals into reality.

This content was partially created using generative artificial intelligence (GenAI).