In an exclusive interview with CanadianSME Small Business Magazine, Andrew Kanzer of Xero shares insights on how celebrating milestones, big or small, can fuel growth for Canadian small businesses. He highlights the importance of recognizing achievements and how Xero’s research shows that celebrating progress boosts morale, performance, and long-term success.
Interview By Kripa Anand
Andrew is responsible for shaping and executing Xero’s strategy to accelerate growth across the US and Canada. Andrew has had a career dedicated to empowering small businesses. Prior to Xero, he led mid market sales at Intuit and global SMB and mid market sales at PayPal. He also founded and scaled Swift Financial into a US $300M lending platform with US $100M in ARR — supporting thousands of small businesses — before its acquisition by PayPal. Andrew holds a Bachelor’s Degree in Political Science from the University of Delaware.
Xero’s new independent research sheds light on the importance of recognizing “Made-It Moments.” Could you share some of the most surprising or impactful findings from this study, especially as they relate to Canadian entrepreneurs?
What stood out most in the research is how modest Canadian small business owners are about celebrating success. Only 17% of Canadian entrepreneurs told us they celebrate all their milestones, compared to higher rates globally, and almost half said they’ve never even thought about celebrating. At the same time, Canadians report fewer milestones than their peers; just 49% said they had achieved one in the past year, compared to 57% globally.
But here’s the surprising part: when Canadians do decide to celebrate, they really lean in. The average spend on milestone celebrations here is over CAD $5,000 in the past 12 months, one of the highest globally. On top of that, the kinds of milestones they value most are very practical and personal: repeat customers (44%), being able to pay themselves (44%), hitting revenue targets (33%), and receiving positive reviews (33%).
To me, that combination of fewer, more meaningful celebrations says a lot about Canadian resilience and focus. It’s clear that Canadian entrepreneurs want milestones to feel substantial, but when they do pause to recognize them, the impact is both memorable and motivating.
You’ve described “made-it moments” as crucial to the entrepreneurial journey. How would you define these moments, and why do you believe they carry so much weight in shaping business culture and longevity?
A “Made-It Moment” is essentially that point in the journey when an entrepreneur can finally take a breath and think, “Okay, this is actually working”. It doesn’t need to be a massive, headline-worthy event. More often, it’s a small but powerful milestone, like paying yourself for the first time, getting that first glowing customer review, or hitting a revenue goal you’ve been chasing for months.
Owning and running a small business can often feel like a relentless grind. Having a Made-It Moment acts as an anchor, reminding founders and their small but mighty teams why they started in the first place. It reinforces their sense of pride, validates their hard work, and creates a memory they can look back on when challenges inevitably come. And this isn’t just about feeling good; it directly impacts the business. Our research shows that Canadian entrepreneurs say celebrating these moments improves morale (82%), boosts performance (78%), and strengthens wellbeing (82%). Those kinds of outcomes are what keep businesses resilient, innovative, and ultimately positioned for longevity. In short, Made-It Moments turn progress into momentum—and that’s invaluable for any entrepreneur.
The research reveals that Canadian small business owners are less likely than their global peers to celebrate achievements. From your perspective, why do Canadians tend to downplay their successes, and how might this cultural tendency affect long-term business growth?
That’s a great question, and it really gets to the heart of what we see as a classic Canadian tendency. Our findings point to two main reasons: nearly half of Canadian entrepreneurs said it had simply never occurred to them to celebrate, while 28% admitted it’s just not in their nature. That’s a reflection of a cultural reserve we often see in Canada; entrepreneurs prefer to keep their heads down, focus on the work, and let results speak for themselves.
The potential downside to this, however, is burnout. When you don’t pause to acknowledge the wins, business owners and their teams miss crucial opportunities to recharge, connect, and build pride in their accomplishments. Over time, that can quietly chip away at morale and resilience, which ultimately impacts growth.
The good news is that celebrating doesn’t have to mean extravagant parties. It can be as simple as a heartfelt thank-you to customers on social media or treating your team to lunch. Canadian entrepreneurs already demonstrate incredible resilience and pragmatism in their milestones, like valuing repeat customers and revenue targets. Pairing that with more frequent acknowledgment could help supercharge even stronger, more sustainable growth.
Celebrating milestones may seem symbolic, but it can have real, tangible effects on motivation, team morale, and even customer engagement. Can you share examples or insights into how pausing to celebrate can ultimately drive performance and innovation in small businesses?
Absolutely. The connection between celebrating and performance is incredibly clear, and it’s something Canadian business owners are already seeing. When they pause to mark a milestone, they report tangible improvements in employee wellbeing (82%), morale (82%), and performance (78%). Those aren’t just nice-to-haves; they directly fuel a healthier, more productive business.
Picture this: your small business hits a sales target you’ve been working towards for a year. Taking the team out for dinner or even just publicly acknowledging their hard work in a meeting energizes everyone. It builds confidence and reinforces to employees that their contributions are valued — which is a huge driver of creativity, collaboration, and ultimately stronger performance.
Celebrations also strengthen the customer relationship. Sharing milestones publicly, whether it’s a social post, a customer thank-you, or an event, signals that your business is thriving and that you value the community that helped get you there. Customers are more likely to engage with a brand that radiates pride and gratitude.
For any Canadian SMB, celebrating is a powerful way to turn a single achievement into a foundation for future success.
As someone who has dedicated your career to empowering SMBs, what advice would you share with Canadian entrepreneurs on embracing and celebrating success — both big and small — as part of their growth journey?
My advice is simple: don’t wait for the “perfect” or massive achievement to celebrate your progress. The journey of building a business is made up of countless small steps, from your first positive review to paying yourself a steady salary. Each of those moments is proof of progress, and
Pausing to recognize them can make the journey more sustainable and rewarding. It’s not just about the numbers; it’s about creating lasting memories that sustain you through the inevitable challenges of business ownership. For Canadian entrepreneurs in particular, I’d say: don’t underestimate the power of sharing your pride. Your community, your customers, and your team benefit when you share your progress. In a country where small businesses make up such a vital part of the economy, those success stories and celebrations matter more than you might think.
Disclaimer:
This interview is published in collaboration with CanadianSME Small Business Magazine. The views and opinions expressed by the interviewee are their own and do not necessarily reflect those of CanadianSME. The content is intended to provide insights and inspiration to small and medium-sized businesses, while respecting the individuality of each company’s journey.
