Start-ups Snapshot 2014
It takes a certain temperament to launch a start-up. Determination, confidence, inventiveness and passion are common traits of entrepreneurs. Whether nurtured in the classroom, tested in a business case competition, or part of a student’s DNA, the drive to launch a business has been acted upon by many of the school’s students and alumni.
“Entrepreneurship is where human creativity meets day-to-day business reality,” says Douglas Reid, QSB Associate Professor and Distinguished Faculty Fellow in Strategy. “Usually, it’s the road not taken by many grads. For those who choose to build the path they travel upon, life, while always challenging, can be exhilarating, too. And those who persevere, and have a bit of luck and a lot of help, experience the pure joy sought by every creator — that moment of pride when one can say, ‘I built this’.”
QSB Magazine reached out to several entrepreneurial alumni on our radar to invite them to deliver the equivalent of a 60-second elevator pitch to our readers.
Lloyd & Co. Bespoke Tailoring
My company, Lloyd & Co. Bespoke Tailoring, offers custom-made suits and shirts for both men and women. I’ve met with more than 300 clients since May 2013, and have opened two offices in downtown Toronto. I’ve also launched ‘Society Suits’, a program that provides a group discount and donates to the United Way 20% of the total sales from these corporate events.
Scope: 3 employees, $200,000 annual revenue
My ‘aha’ moment: When I wasn’t able to find a summer job in 2012, I decided to go into business for myself. I saw an opportunity in the market to partner with a great supplier to offer affordable custom-made clothing. With my shared-office model, my concept is expandable and has the potential to succeed in other major financial centres. I’m looking to open an office in Glasgow, Scotland, when I’m on exchange there next semester.
The most fun I’ve had so far is looking out from my corner suite on the 26th Floor at Bay and Wellington. I love it when clients are blown away by the stunning view and point out their own offices in neighbouring buildings.
Future plans? Because of my entrepreneurial drive, I was offered a position this summer at Oliver Wyman, a major consulting firm, in Toronto. I’ll be hiring full-time staff to manage the day-to-day operations of my business this summer. I hope to get into consulting after I graduate, but will continue to oversee the business now that I’ve been bitten by the entrepreneurial bug.
Amego Electric Vehicles
My company, Amego Electric Vehicles,designs, distributes and retails electric bikes and electric scooters that require no insurance, licence or parking fees. Amego’s customers are leaving their cars at home, saving time and money, foregoing public transportation, and having fun! The company offers stylish electric bikes that emphasize safety and durability, and are available through 18 dealers across Canada and at a corporate store in downtown Toronto.
Scope: 4 employees, $400,000 annual revenue
My ‘aha moment’: I was inspired to pursue the business at a Queen’s Business Club event that featured Trend Hunter Jeremy Gutsche, AMBA’05, author of Exploiting Chaos. The light-bulb moment happened when Jeremy was asked what he saw as the next big market opportunity: “Electric bikes!” he exclaimed. Soon after, I went to China and connected with a pioneer in the industry, who showed me the ropes and travelled with me from Guangzhou to Shanghai. That’s where I selected the models that would set Amego apart from the competition, and where I found the best manufacturers of motors, controllers, moulds, batteries and frames.
The most fun I’ve had so far was when I formed a co-branding partnership with Ferrari’s Canadian professional race team, AIM Autosport, and travelled with them to promote our Ferrari-endorsed Amego Brave and Bold bikes.
BraTopia
My company, BraTopia, is a women’s lingerie and swimwear store specializing in perfectly fitted foundation garments and swimwear. We fit women across the size spectrum, from petite to plus and everyone in between, in a comfortable, all-female environment. We also feature specialized products, for nursing mothers, cancer survivors, and athletes looking for the perfect sports bra.
Scope: Calgary store employs 9, and has revenues approaching $1 million
My ‘aha moment’: While looking for a proper-fitting sports bra in Calgary, I could not believe how challenging it was to find such a thing, especially in a city this size. When I finally did find one, it was at a store in an industrial area that operated by appointment only. That’s when I knew I wanted to make this process easier for women.
The most important thing I’ve learned about starting a business is that nothing is certain. Your best laid plan can get derailed, and your pay is typically unpredictable. You need to trust your gut instinct, and be firm when necessary. Nobody will care more about your business than you, the owner.
The most fun I’ve had so far was when I saw the elation that a properly fitting bra can bring to a woman. Some women have been reduced to tears of gratitude, so it’s been incredibly rewarding to be able to help them. I was also extremely gratified when I requested donations from my suppliers to help Calgary’s flood victims. I was amazed at how highly these women valued the donated bras, especially those who had lost so much.
MyOwn TM
Scope: 4 employees
The business problem that my service solves: Students often lack professional networks and a practical work history, factors that most professional platforms emphasize. MyOwn TM enables students to showcase themselves professionally online, and also provides practical tips on building and promoting their personal brand.
Companies are challenged to find candidates who ‘fit’ their culture. MyOwn TM profiles help demonstrate job candidates’ character traits as well as skills.
The most important thing I’ve learned about starting a business: Patience. Coming from a corporate background, I was used to things happening quickly. In the start-up world, the timelines and agendas of others involved are rarely aligned with your own.
The most fun I’ve had so far was when: We tested the concept in front of students from several U.S. and Canadian universities. Getting live feedback after so many months of working in isolation was terrifying and terrific!
Social Focus Consulting
Scope: 28 employees
What is the business problem that your product/service solves? We develop innovative marketing strategies that help non-profits stand out among the 180,000+ Canadian organizations that are all fighting for public awareness and a limited pool of funding.
Something we tried that didn’t work: In the summer of 2012, our entire team operated virtually. There was little, if any, face-to-face contact. This resulted in less engagement with the organization and project outcomes that weren’t ideal. Ensuring that we now meet in person as often as possible is a top priority.
The most important thing I’ve learned about starting a business: Resilience is the key to success. There have been failures, big and small, in founding and managing Social Focus Consulting. Learning from these failures and staying focused on our goals has allowed us to enjoy our accomplishments to date.
TeachMe Inc.
Scope: 11 employees, Edmonton-based
Why I started the company: For all the time they spend on it, parents and teachers still can’t get every student to love math. MathGames combines the worlds of learning and play in a powerful new way. We know how to entice kids to play games. We’ve built some of the most popular gaming sites on the web by making fun, free games that compete (we admit it) with homework for kids’ attention. We’ve used that expertise for a greater good. Our first product, MathGames is driven by the belief that if students applied even a fraction of their free time to math, it would amount to something significant — something that could change their lives.
The first thing children learn is how to play. With MathGames, they play to learn.
The most fun I’ve had so far has been building and testing the user experience to motivate students to keep answering questions. Our efforts have been so successful that we now have more than 75,000 students using MathGames.com and they’ve answered more than five million math questions to date. A recent highlight was when TeachMe was accepted to join a leading accelerator in the education technology sector in Silicon Valley.
Journal Prep
My company, Journal Prep, provides academic researchers with services and resources to help them accelerate the academic publication process. Our services include English editing, pre-submission peer review, statistical support and more to be introduced soon.
Scope: 30 employees, Montreal-based
What is the business problem that your product/service solves? We help level the playing field for non-native English-speaking researchers who want to submit their research papers to English-language journals. We also critique academic papers and offer researchers, including native English-speakers, advice on how to reduce the time it takes to get their papers published.
The most important thing I’ve learned about starting a business is that it isn’t easy, and you have to be prepared for not receiving financial compensation for the time you put in, at least not for quite some time. When cash-poor, you have to be creative and efficient in your expenditures.
Other lessons learned? Starting my own business has really helped me grow up faster than I likely would have otherwise. Having other people depend on me means I need to ensure that I don’t let anyone down and that I stay focused, even amid the distractions of a university setting.
Human Logistics
My company, Human Logistics, moves people and cargo with unparalleled precision. Specializing in aircraft charters of all kinds — from helicopters, to executive jets, to cargo and passenger airliners — Human Logistics is moving the industry forward by introducing a new standard of service and accountability.
Scope: 1 employee, Toronto-based
What is the business problem that your product/service solves? Human Logistics acts as an outsourced business development department for aircraft operators on a global scale. We deliver long-term contracts to air operators at no cost. Conversely, we supply our customers —the charterers — with a multitude of offers and the specifics surrounding each air operator and aircraft. We put the decision power in our customers’ hands, enabling them to select the aircraft and operators that best suit their requirements.
The most important thing I’ve learned about starting a business: My professional network has been invaluable. The advice and guidance offered me, often casually over a meal, have proven to be the most important lessons learned to date.
How my QSB connection has helped the business: I’ll always remember Prof. John Pliniussen’s comment, “Pressure makes diamonds,” Those of us intent on reaching our true potential, in either our lives or careers, must work harder than what is sometimes comfortable — applying pressure on ourselves, on others, and on convention itself.
An offer for budding entrepreneurs: It’d be happy to advise alumni on their business plans and to act as a sounding board. I encourage collaboration and will always make time to meet with fellow entrepreneurs.
AppArmor Mobile
Our Company, AppArmor, develops custom mobile apps that provide tools to foster community safety. Our custom mobile safety apps can be modified in real time and are branded to each client organization. AppArmor enables institutions to aggregate safety resources, send emergency mass notifications and communicate with users in distress. Our custom safety apps are downloaded 50 to 100 times more often than those of our competitors. We currently serve 60 institutions in Canada, the U.S. and Australia, including Queen’s University, the University of Florida and The Australian National University.
Why we started the company: As an undergrad member of the Alma Mater Society, Dave was involved in an audit of the on-campus emergency blue-light poles that found that a number of these weren’t working. In coordinating efforts with university administrators Dave determined that a smartphone app could act as a massive connected network of virtual security intercoms and, with other features, could help make the Queen’s campus a safer place. Dave and his co-founder and brother Chris worked to build the app (called SeQure) now used by Queen’s Campus Security and more than 67 other institutions around the world.
What is the business problem that your product/service solves? Universities and colleges, healthcare facilities and other organizations struggle to find new and innovative ways to improve the safety of their staff and those they serve. Traditionally, improving safety is a very expensive undertaking and physical-safety infrastructure can be unreliable. As well, there is significant apathy among people when it comes to safety; finding a meaningful way to reach individuals can be challenging.
The most fun we’ve had so far was: Seeing our safety apps help first responders and students handle ongoing threats. It is incredibly powerful to see your own product help make the difference in a crisis.
A Smith School of Business connection? AppArmor started at Queen’s, developed in close consultation with the Campus Safety Working Group, which helped us build SeQure. We were also recipients of the Battat-Steffensen Dare to Dream Internship from the business school in 2013, which helped us expand our young enterprise.
SimpleTax Software Inc.
My company SimpleTax is the friendly, fast, and fun way to file your income tax return. With an innovative design and pay-what-you-want pricing model, we’re changing the way Canadians do their taxes.
Why I started the company, maybe an ‘aha moment’: SimpleTax was born out of frustration. Every time I sat down to tackle my tax return, I found the available options to be poorly designed, slow, and expensive. Year after year, it wasn’t getting any better. I believed there had to be a better way.
What is the business problem that your product/service solves?
On the surface, the problem we solve is very straight-forward: we help you file your personal tax return with the Canada Revenue Agency. We make that process simple and pain-free.
The bigger problem we’re trying to solve is the fear people have of doing their own taxes. Fear is a common tool employed by companies in our space: “if you do it yourself, you’ll make a mistake”. This is why tax preparers are able to charge a significant sum, or take a percentage of your refund, for even the simplest returns. While accountants add value for those with complex tax situations, most Canadians, with the right tool, should have the ability to complete their own tax returns.
The most fun I’ve had so far was the day we opened up our app to the general public after being certified by the CRA. It was both exhilarating and scary. After spending almost a year developing our product, would it be well received? Would anyone even use it? And then, it happened: our first payment.
Hundreds of thousands of returns later, we’re still having fun. We’ve been covered by BetaKit, Techvibes, the Globe & Mail, Financial Post, Vancouver Sun, Metro, CBC, Canadian Business, and Marketing Magazine. We also have an incredible community of users who continue to entertain us with their emails, tweets, and Facebook messages.