Emerging talent unearths wealth of business opportunities
The typical path to entrepreneurial success is to build a better mousetrap. In recent years that has meant technological innovation: invent a new software program or a new telecommunications platform, and the world will beat a path to your door.
To be sure, this year's list of B.C.'s 40 most successful entrepreneurs under the age of 40 has no shortage of technical innovators. But far more prevalent are those who have found the fast track to success by uncovering opportunities in unexpected niches.
For example, there's Theo Kefalas, the 25-year-old who got a taste of the construction business working for his dad as a teenager. He saw the need for a personnel agency catering to that sector, and today he owns three businesses that together generate more than $6 million in revenue.
And who'd have thought that cleaning industrial wire would be a growth industry? Thirty-six-year-old Norman Chow invented an environmentally friendly way of stripping away residue from the manufacturing process, and today supplies 43 wire-makers, including clients as far afield as South Korea and Bahrain.
Richard Gibbs found yet another niche in the industrial sector. He looks after the nuts and bolts of automating industrial processes, such as filling giant vats for winemaker Andres Wines. An electrician by training, Gibbs applies his know-how to the factory floor.
It took rare foresight to imagine that supplying massage equipment and plush slippers to health stores and mall kiosks could become a $6-million business. Ron Kline and Ari Schwartz are the visionaries behind Relaxus Products, which has capitalized on the demand for feel-good products.
The good news on the technology front is that Vancouver is drawing the best and brightest from south of the border.
After founding an IT help line in Phoenix, Arizona, Venus McNabb-Matalon decided the grass was greener north of the 49th parallel. She moved to Vancouver, and continues to oversee 1-800-GeeksOnTime, which serves all 50 states through a network of 700 on-call contractors.
Gaming whiz kid John Schappert was only 24 when the Florida company he founded was bringing in US$10 million in revenue. After he sold that company to Electronic Arts, Schappert moved to Vancouver, where he heads gaming development for EA's Canadian operations.
The strong showing of software developers among this year's 40 Under 40 winners bodes well for Vancouver's continued strength in that area. Winners include the president of Maximizer Software, the president and CEO of Pivotal Corp., and the senior vice-president and general manager for the Americas for Business Objects. All are under 40 and at the top of their game.
Lifestyles seem to have taken a turn for the environmentally responsible among this year's crop of junior achievers. There are notably fewer SUVs among winners' personal rides. Three report no car at all, opting for biking, walking and taking transit. One drives an electric hybrid, and another plans to trade in his Saab for a Mercedes Smart Car. The model of choice? Three drive a 500 S series.
For those who prefer to rely on the internal combustion engine, the brand of choice among this year's smart set is Mercedes. Nine 40 Under 40 winners drive a one (including the one planning to buy a Smart Car).
The fitness challenge of the year? Climbing Mt. Kilimanjaro. One 40 Under 40 winner has met the challenge, and three plan to.
And if you're doing any gift buying for that successful young entrepreneur on your list, a CD by Thievery Corporation is a good bet.
David Jordan, Features Editor |
