♪ >> Hello, I'm Jim Deeks This is Canada Files .

I thank you for joining us.

Our guest on this edition is Arlene Dickinson.

A lady familiar to most Canadians, perhaps not to you.

Arlene has been a Canadian tv fixture for nearly 15 years.

As an expert panelist on Dragons' Den our version of Shark Tank .

She is also an extremely successful business woman, philanthropist and entrepreneur herself.

How she got to where she is, is a very interesting story.

>> Arlene Dickinson, thank you for joining us.

>> Jim, it's really great to be here.

>> I'm looking forward to our conversation.

>> So am I!

>> I would say just about everyone in Canada knows who you are.

Just about everyone admires you greatly, not just for your success but for your personality.

Let's back to the age of 32 before all this began.

I'm sure no-one at that point, least of all you, had any idea of the rest of your life to unfold.

Take us back to that time, about 1988.

Where you were in your life and the crossroads you were looking at.

>> That's a trip down memory lane.

1988, I was going through a divorce.

I had just started to go into the workfore, had gotten a job at a marketing company, a tv station in sales which I got fired from.

I went on to join a venture as a partner but that meant working for free, getting sweat-equity in exchange Up to that point, I had been married at 19, raised four children with everything going along.

I was not in a great marriage for a bunch of reasons.

I ended up divorced, kind of alone with no money.

No education nor skill sets.

It was quite a journey.

>> You were raised as a member of the Mormon church.

At that time we are talking about, your relationship with the church ended very suddenly.

Tell us why.

Did that change your faith for the rest of your life?

>> I was raised in the Latter Day Saints Church as a Mormon.

It was certainly a religion that taught me a lot of my values relative to my approach to people and who I am as a person.

When I was married, I'd had an affair which came out.

I was ex-communicated from the church.

It was devastating to me at the time.

There were two sides to this and I wasn't being heard.

That was the rules of the religion.

The ex-communication did change me in terms of my relationship with that church.

It didn't change me in terms of my faith and my belief in a God, kindness and who I am as a person.

>> As you said, you got a job with Venture Communications, shortly after this point.

Within a decade, you ended up owning the company outright.

As a single mom with four kids, that is impressive.

How did you do in those first months & years as a sole owner?

How did the company do?

>> When I look back at that time, I just kept my head down and worked hard.

I had been given a strong work ethic.

My father always taught me we're a result of the work we put in.

Things come out only when you put the hard work in.

I was working very hard.

It was difficult making decisions on my own.

I found out that I was an entrepreneur.

I wanted to make my own choices.

When I bought my partners out, it was almost like freedom to decide.

The weight of decisions came on me as well.

Freedom to decide is one thing, the repercussions is another.

>> By 2007, within a decade, you had established a profile as a very successful Calgary business woman.

At that point, you were approached by theCanadian Broadcasting Corporation to become a panelist on Dragons' Den .

Which was like manna from heaven for you.

How that approach happen?

How did you think you would do on a panel of formidable colleagues?

>> Not manna from heaven.

When they called me, I was terrified of being on tv.

I really didn't want to do it.

I was worried how I would be judged for being on tv.

Thinking about my appearance.

Am I too old?

All these things that go through your mind.

They called me out of the blue, asked me to audition.

My family talked me into doing the audition.

I wasn't going to do it but I did.

I wasn't going to do the show when they asked me to join.

My kids said, "Why are you worried."

"Who is watching that show anyway?"

Famous last words.

It was the second season.

>> Let's talk about some of the opportunities that you had on Dragons' Den here in Canada.

How many businesses have you invested in during the 12 seasons that you've been on the show?

>> I don't know the exact number but it would be dozens.

It's been a journey.

We do a lot of deals every year.

A lot of them fall apart through due diligence.

I have been a successful investor in dozens.

>> Which are some of the most successful?

>> Some great successes... Chickapea Pasta is one.

Cook It, a meal kit delivery company based in Quebec.

It has done incredibly well-- from several to tens of millions in revenue.

OMG Candy, Greenlid which is a disposable composting bin.

There a lot that have done really well.

It's great because Canadians supported them along the way.

>> Have any of them failed and if so, why?

>> I'm not sure I would characterize them as failures.

There's a few where I did, or didn't, get my money out.

I walked away because the company really needed capital.

It wasn't a business that was going to continue to grow.

Those businesses were not run by entrepreneurs trying to build something and they stumbled.

That happens all the time.

>> What was your role in these opportunities?

Were you generally a passive investor or getting your hands dirty as an active leader?

>> At the beginning, I was more involved with some businesses.

With more and more businesses, it was impossible for me to be actively involved.

Now I or my venture capitalists team sit on the boards.

District Ventures Capital invests $100 million in these companies.

Now we have a group of people that get involved beside me.

>> Were there opportunities your colleagues got into but you didn't that you wished you had?

>> There's two I wish I had gotten involved in.

I tried.

One was Coreshorts, compression shorts for working out.

The other was Saxx, a men's underwear company.

Didn't get either one of them but I wished I had.

>> Were there any that you got into but regretted or realized maybe I'm in over my head or I was oversold?

>> I don't regret any.

There's some that could have gone better, had we helped more or the entrepreneur had done things differently.

It's easy to lay blame but I don't regret any of them.

I learned from all of them.

The show deals led me to a venture capital career and starting a fund.

It's a great opportunity to learn.

These entrepreneurs did the best job they could.

Sure we can always do things differently.

>> We see in most episodes of Dragons' Den, a deal being made by you or your colleagues.

Do most deals go through, or after due diligence, or the show recording, do they fall through and not proceed?

>> I can't keep track of what the other Dragons are doing.

It's a handful for me to track my own.

I have closed more deals than any other Dragon on the show.

I closed a lot of deals and am committed to seeing these deals to fruition.

They don't always work out.

Lots don't.

People select the Dragon they want to be in business with.

>> One of the unexpected elements of Dragons' Den that most viewers are aware of is that you and Kevin O'Leary.

who has gone onto Shark Tank , were co-panelists for many seasons.

It was obvious on the show that you didn't see eye-to-eye.

on a lot of issues.

Kevin has gone on to be quite a star in America.

How do you feel about his success?

>> I don't begrudge him his success.

We all come at capital investment differently.

We all are different types of people.

When making decisions on who they want to invest in them, you are choosing something like a marriage partner.

Make sure you're choosing wisely.

He has people who like his style and people who like mine.

We just have very different styles.

>> What do you look for in a new business opportunity?

Is it potential return on investment or other criteria?

>> The ROI only comes after success in building the business.

I work hard to decide if this entrepreneur is somebody I want to be in business with.

You're picking a partner so you want to believe they're honest, genuine and believe in a win-win.

And that they have a great idea!

It's this combination of this idea but there's lots of great ideas, notlots of great entrepreneurs.

You're looking for somebody you believe in.

>> If the Dragons' Den opportunity had not come 14 years ago, how would your life have unfolded?

>> Such a hard question to answer.

If somebody had asked me if I'd be here today, I'd have said it's highly improbable but not impossible.

I believe we make our own paths.

If you're prepared to take the risk, open unexpected doors.

I didn't want to go on the show at the beginning.

I told myself I'd show my kids that you should try anything.

If you're given an opportunity, give it a shot.

I'd like to think I'd be trying to make a difference in our country, maybe not through tv.

That's what matters to me.

I always wanted to be an actress so maybe an acting career?

>> I'm sure you would have been a huge success.

You started with Dragons' Den in 2007 and your life was peachy .

But in 2013, a natural disaster in Calgary, your home town, triggered a major personal crisis for you.

Tell us what happened, and what happened to you.

>> You're referring to a flood in Calgary, the largest natural disaster that happened in Canada.

I was busy doing so many things.

Someone was running my marketing company, Venture Communications.

The flood hit and almost put the business out of business.

I went through this period of reckoning.

This was the company that brought me up, employed people that I cared about deeply.

It wasn't my livelihood any more but...

I felt an innate responsibility to ensure it survived.

Through that, I re-invented it, wrote the book on re-invention.

What we can do when we believe we have something we want to ensure doesn't disappear.

Simply because waters rush in and ruin something.

There is something left to rise from that disaster.

That's the lesson I learned.

>> To your credit, following that disaster, you've applied your expertise and success into new business ventures that focused on assisting and underwriting entrepreneurs.

Particularly in the health, food and beverage sectors.

I want to ask about your writing --you've written three books.

The last which you just mentionned is called Re-invention.

Changing your Life, Your Career, Your Future.

Was this a subject that your publisher came to you saying, "We could market this if you're willing to co-write it".

Or did you say to your publisher, "I would like to write a book on this theme."

>> It was a topic I selected and said to my publisher, "I think I have something to say."

It's easy to get in a trap where you feel you have to write book after book.

And you don't necessarily believe in what you're writing.

My books focus on what I care deeply about.

This re-invention had struck home for me.

It's hard to be seen as a successful person on tv and in the world and have something major happen.

And have to admit it happened and seen as a failure!

It wasn't my fault the flood happened but it was impacting my business.

I talked to the publisher, HarperCollins, a great group.

They said, "Absolutely.

Let's talk about this."

So we undertook the book... it was great.

>> What is the overall premise of the book?

Should everybody re-invent themselves or think about doing that?

>> The premise is that people sometimes wait for something tragic or a disaster before they re-invent themselves.

They're not happy with their life but they wait for a trigger--like a divorce, flood or a job loss.

When those things happen, we ask if we are happy with our life.

Is this an opportunity to re-think everything.

The book is about not waiting for those moments that force you into re-invention.

To assess your life and determine if you can take the steps necessary to re-invent the life you really want.

The hypothesis is that many of us are living for other people's sake.

Not doing things that really fulfill us as humans.

>> It would appear, from your background and career history, that you haven't had to struggle very much.

Since the age of 32, you've had a pretty charmed time.

Credit to you, it's not that you've been lucky.

As a woman in business in Canada, you are very aware that the glass ceilings still exist.

Wage disparity between men and women still exists.

I'm sure you've talked to a lot of young women.

What's the advice you give young women who are determined to be successful in business.

>> I haven't led a charmed life.

I have been in special loans at the bank-- close to bankruptcy numerous times.

Suffered deep depression, and anxiety.

I always say how you see people on the outside is not necessarily what they're going through inside.

Part of success is living the life you want and getting where you want to get to by having a life filled with purpose.

That's the advice for young women thinking about a career.

Find your purpose.

Once you find your purpose, going through highs and lows, big hills and valleys, feeling ecstatic and depressed.

When you do those things, that is the journey.

As long as you're on that path because you're aiming for your purpose of life.

Your why .

Why you're getting out of bed every day.

Why you're doing what you're doing.

Then you will find success.

Because this is what success is.

It's living your life with purpose.

I say, "Everything is going to be okay."

"When you're at your low, things are going to get better."

No matter what, they're going to be okay.

There's times I didn't think I could get out of bed.

When I got up, I realized it wasn't as bad as I thought.

I could get through it.

My advice for any young woman is, "You can do this!"

>> Let me ask you about entrepreneurs.

For the last 20 years, you've spent a lot of time with them.

Do you find Canadian and US entrepreneurs different?

Most of us have the impression that Americans are more willing to take risks than Canadians.

-- and to invest in new ideas than Canadians.

Do you agree with that assessment?

>> As a society, Canadians are taught that we should have low risk lives-- that there's a safety net for us.

The beauty and social support of Canada... the healthcare and education systems, all the things that Canada gives us.

Also gives us a security that doesn't invite risk.

Americans are more about the individual dream and quest.

Canadians are about the social dream-- to have a community and a society that is equal and better for everybody.

That social side of Canadians does bleed into whether entrepreneurs are as brave, supported as much by other Canadians.

The "tall poppy syndrome" is real.

Coming out of that, Canadians are getting braver-- starting to believe in ourselves more, understanding you can be entrepreneurial and take risk.

Not be harming but contributing to society.

Those aren't opposite ideas.

Running a business, capitalism and capitalism with a heart, can live together.

That's where I think Canada is very different than America.

We do have compassion and empathy driving business value.

>> What's the biggest mistake entrepreneurs make?

>> Underestimating the time, energy and money for success.

People think they've had a start-up for a couple years and it hasn't hit yet.

Start-ups are generally 7 years before they gather steam.

You've got to be in it for the long haul.

There's an underestimation of the work involved.

Another mistake-- maybe it's a Canadian thing, is we're not dreaming big or pushing far enough.

Not striving for the big goals.

We temper our ambitions.

I've seen entrepreneurs do that, especially females.

They temper their ability to really grow.

We have to get past that.

What I would say, "Reach hard and high!"

>> As somebody who has reached hard and high, what's ahead for you?

You're approaching an age where people are thinking retirement.

You've achieved phenomenal success-- received many honours-- four university degrees.

Is it time to sit back and smell the roses?

>> I can't imagine.

I love what I do so much .

My biggest fear is I'm going to run out of runway.

Not that I need to slow down on the runway.

I get so much joy helping businesses in Canada be successful.

Being successful as a result is icing on the cake.

I'm going to continue to raise capital... invest in Canadian companies.

Continue to believe age is not a barrier to success.

I'll be 65 this year, by the time this airs.

I love my age and am proud to be my age.

It sure beats whatever is in second place.

Why do we need to be ageist?

As long as we're contributing, happy, allowed to be all we can be, that's happiness and joy to me.

>> I ask this of all our guests.

As a self-made woman, thanks to living in this country.

what does "being Canadian" mean to you?

>> It means freedom and peace.

Opportunity in the context of community.

Being Canadian...I'm an immigrant to this country.

I can't imagine living anywhere else in the world and I've been all over the world.

Freedom, peace, opportunity and community.

It means home to me.

>> You set a very high bar for Canadian women to emulate.

Thank you so much for sharing your time with us on Canada Files .

>> It was an absolute pleasure and a lot to think about.

I love interviews that make me think harder.

>> Thank you for that.

>> You're very welcome.

>> And thank you for joining us on Canada Files .

We hope you'll do so next time.

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