Business in Vancouver December 30, 2008-January 5, 2009; issue 1001
Steve Wallace
VP sales North America, Coastal Contacts Inc., Age: 35
Steve Wallace believes he’s had more failures than successes in his business career, but his success is the result of an insatiable curiosity for life.
“I just call it the curiosity of wanting to try things. I think that I’m very curious, ask a lot of questions and I do try a lot of things,” said Wallace.
According to Coastal Contacts CEO Roger Hardy, in a little over a year Wallace has transformed Coastal into one of the world’s largest online glasses retailers.
He introduced a “try before you buy” model that’s proven successful for the company, and Hardy expects that glasses will make up more than 10% of the company’s business next year.
Wallace, a husband and father of two, began his entrepreneurial career in 1996 when he started Active Wireless, a chain of Telus Mobility retail stores.
He built his company into a successful business over the next nine years and eventually sold it before he joined 1-800 Got Junk?, where he managed a public relations team.
Wallace said he’d always admired Hardy and Coastal Contacts’ business model, and when Hardy was ready to expand his business from the realm of contact lenses into glasses, Wallace jumped at the chance.
“[Hardy] knows that’s always been my passion in terms of getting things off the ground and diving deep into a project,” said Wallace.
He’s also active in his community and is a member of a number of professional associations including: the International Council of Shopping Centers, the Greater Vancouver Home Builders Association and the Young Entrepreneur Organization.
Not one for burning out, Wallace has learned when it’s time to turn off his BlackBerry and go home to see his family, but he said he’s not ready to slow his career just yet.
“It’s just getting underway, we’re just starting to see momentum.” •
Birthplace: Hamilton, Ontario
Where do you live now: Port Moody
Highest level of education: University of Western Ontario
Car or chosen mode of transport: Volkswagon Jetta
Currently reading: Blueprint to a Billion by David G. Thomson
Last CD bought or music downloaded: Viva La Vida by Coldplay
Favourite movie: The Shawshank Redemption
Favourite local restaurant: Jameson’s in Newport Village
Profession you would most like to try: Pilot, Fire & Rescue
Mentor: My dad
Toughest business or professional decision: Selling my first company. Sentimental attachment I guess!