Joyce Groote's original life plan was not to be an entrepreneur, a leader of three executive discussion groups or a successful businesswoman. She wanted to be a scientist.
Her early interest in genetics led her to earn both a bachelor of science and a master's degree in science.
"I'm actually considered the grandmother of tree biotechnology," said Groote, who is now chair of The Executive Committee (TEC). "My claim to fame is that I'm the first person to ever clone a tree gene. I did that when I was a graduate student [at the University of Alberta]."
She worked at Agriculture Canada and realized that, though she loved learning scientific truths, the work left her pining for something more.
Longing to break out of the laboratory and into the wider world, she realized that she had an entrepreneurial bent. She completed an MBA at the University of Ottawa and was headhunted to run the non-profit Food Biotechnology Communications Network.
She was later recruited to start and head the national lobbyist organization BIOTECanada.
"It's totally incongruous that she has such a strong science background because that's not at all what she's doing now," noted Bob Sinclair, who is the TEC practice chairman for the Pacific region and who nominated Groote as a Business in Vancouver Influential Women in Business award winner. "She's positive, bright and, in a nice way, intense. She's a terrific leader and a natural entrepreneur."
Indeed, Groote's best-known entrepreneurial success came after she bought Holey Soles Holdings (HSH) from a neighbour and produced foam-moulded shoes with holes, similar to those produced by U.S. footwear giant Crocs Inc. (Nasdaq:CROX).
HSH revenue surged 32,353% to $17.2 million in 2007 from $53,000 in 2003 – good enough to rank No. 4 on BIV's list of fastest-growing companies in B.C. at the time.
It also helped her earn a nomination from Ernst and Young (EY) as its Pacific region entrepreneur of the year.
Groote told BIV that she did not need a patent on the shoes because they were invented by an Italian years earlier. However, that did not stop Crocs from waging costly legal battles against Groote.
Sick of spending $1 million annually on legal bills, she put HSH into bankruptcy protection, created Holeys Canada and bought the HSH assets. That stopped the lawsuits and sired a new venture that produces differently styled shoes and ones with non-slip soles targeted at gardeners and chefs who work on slippery floors.
"It's a very profitable company," Groote said of Holeys, which is one of many ventures that she operates as part of the Crossing Sectors Inc. holding company.
Manufacturing is done in China, and orders are sent directly to retail buyers, thereby negating the need for an expensive warehouse.
Her main job is running three TEC groups, each of which meets for a full day each month and provides opportunities for CEOs to mentor each other by sharing experiences, successes and failures.
"I love doing that, so I spend a lot of time with the three groups," Groote said.
About a dozen CEOs are in each cohort. Each CEO in the group is in a different sector, so he or she need not fear divulging proprietary information to a competitor.
Outside work, Groote volunteers time as chair of the Women's Enterprise Centre and as a judge of the EY Entrepreneur of the Year awards.
"I also do some coaching," she said. "I take on someone new each year, usually a younger person, and I never have a problem finding that person because everyone wants help for free." •
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