Entrepreneurs Chart Their Own Course
A closer look at some entrepreneurial Men of Character
(Published in Past & Present, Fall 2016)
Crescent alumni can be found working at leading firms around the world. However, many have chosen to chart their own course as entrepreneurs. Here are five Men of Character who are applying the lessons they learned at Crescent to the businesses they founded.
(Published in Past & Present, Fall 2016)
Crescent alumni can be found working at leading firms around the world. However, many have chosen to chart their own course as entrepreneurs. Here are five Men of Character who are applying the lessons they learned at Crescent to the businesses they founded.
Mike McDerment ’94
Founder and CEO of FreshBooks, a cloud-based accounting software system for freelancers and small business owners. He launched FreshBooks when he was in his late 20s.
What inspired your company?
In 2003, I was running a small web design firm and using Word and Excel to bill my clients. When I accidentally lost an invoice, I knew there had to be a better way to create simple, professional-looking invoices. That’s when I created a cloud-based system that became FreshBooks.
What have you learned the most from starting your own company?
The best thing I have learned is to surround yourself with people with shared values, and to focus your alignment on those shared values.
How did your Crescent School experience help your career?
The size of the school and the support from my teachers made me feel like I could do anything if I applied myself. In particular, Ms. Linda Gray was an incredible teacher. In fact, she connected me with my first client for my web design business.
What advice do you have for aspiring entrepreneurs?
Starting your own business can be messy, but don’t give up! And if you don’t know what you want to do, then focus on the things you love and let that drive you.
Oleg Baranov ’11
Co-Founder and Chief Design Officer of CleanSlate UV, a portable solution for sanitizing mobile devices in healthcare and other bacteria-sensitive industries. He was 20 years old when CleanSlate UV launched.
What inspired your company?
My family has definitely been the biggest inspiration. I come from a family of entrepreneurs, and seeing their examples as I was growing up had a profound effect. They have been extremely supportive.
What have you learned the most from starting your own company?
Starting a business is a marathon, not a sprint. You really have to pace yourself and prepare for the long haul. Quick successes that cause a stir in the media are just outliers. And even if you have all the odds stacked to favour you, it’s all about execution and your ability to deliver.
How did your Crescent School experience help your career?
I got involved with FIRST LEGO League in Grade 7 and over the next two years I became engulfed in robotics. I was exposed to engineering and design, teamwork, leadership and a healthy dose of competition. In Grade 9 I joined Team 610, and the rest is history. This unique environment gave me an opportunity to grow and develop as a person on many different levels. It challenged me intellectually, through designing and manufacturing components and creating game strategies during competition. At the same time, I learned critical time management and decision-making skills that I use to this day. It was the hardest and most exhausting fun out there, but I wouldn’t trade it for anything else.
What advice do you have for aspiring entrepreneurs?
It’s okay to fail – everyone will at some point. But it’s not okay to not try.
Chris Candy ’02
Co-Founder and Director of Business Development at SevenMedia Inc., a mobile marketing lab that specializes in developing augmented reality apps. He was 26 years old when he launched SevenMedia.
What inspired your company?
I was working in the finance sector following university, but I realized that wasn’t what I wanted to do with my life. I had much more of an entrepreneurial spirit. My company launched as an SMS texting-type system that companies could use for “text to win” programs. It evolved into what it is today in response to market demand.
What have you learned the most from starting your own company?
The importance of patience is huge! When you’re first starting out, you’re going to want things to happen immediately. Most times these things are out of your control and you just need to have patience and let things happen without forcing it.
How did your Crescent School experience help your career?
Crescent helped me learn great time management and organizational skills that I continue to use today. At Crescent, you’re encouraged to get involved with extra-curriculars, volunteer opportunities, music etc., while still getting your work done. When you’re first starting out with your own business, you’re expected to do everything – you’re the accountant, HR personal, office manager, business developer and more. Therefore, you need to be able to balance and wear all those hats without becoming too overwhelmed.
What advice do you have for aspiring entrepreneurs?
Never be afraid to say “no,” whether it be to possible business or to an existing client or customer. When you're starting off, or even four years in, you're trying to grow and bring in business. You end up wanting to make everyone happy when it's just not possible. A lot of entrepreneurs and sales people will say “yes” and then try and figure it out after the fact. Saying “no” keeps you on track and focused on your core competencies. It also helps with customer service. We could have taken on more jobs on a few occasions but at the expense of the ones we already had in development. Saying “no” made sure we weren't upsetting our current customer base and the potential clients were impressed enough to wait for when we were ready.
Trevor Wallace ’00
Principal at Reflect Architecture Inc., an architectural services firm whose clients range from small-scale residential projects to multi-country commercial outfits. He had just turned 30 when he officially incorporated Reflect Architecture.
What inspired your company?
Clients often hire architects because they want a space designed for them. I wanted to focus on first delivering a collaborative consumer experience within the design phase, after which the piece of architecture will follow naturally. If the former is well executed, the later will be innovative and considerate.
What have you learned the most from starting your own company?
Everyone is different, so awareness and flexibility are essential. Stay rested and stay healthy. No one can work all the time – at least not efficiently. Endeavour to build your networks with care, and always play the long game when making business decisions.
How did your Crescent School experience help your career?
I wouldn’t have known it at the time, but the most valuable skills I took away from Crescent never had marks associated with them. They were learned somewhere in the extracurricular and social minutia of the school.
What advice do you have for aspiring entrepreneurs?
Be unique, be confident and be humble. Ask good questions. People want to work with people they like. Find good mentors. Understand what you are good at, but more importantly, understand what you are not good at and figure out how to fill your skills gaps.
Cam Heaps ’92
Co-Founder of Steam Whistle, an independent brewery based in Toronto. He was 24 years old when Steam Whistle launched.
What inspired your company?
My two friends and I lost our jobs at Upper Canada Brewer when it was bought out by Sleeman. While travelling together, we realized that making good beer is what we wanted to do the most, and that was our inspiration to launch Steam Whistle together.
What have you learned the most from starting your own company?
There is no such thing as a smooth ride, there is no perfect execution, and how you handle those bumps in the road is what will determine if you have what it takes to follow through. Secondly, in the beginning you will need more money than you think you will. Take the time to raise that capital beforehand, because it is a lot easier to do it in the beginning!
How did your Crescent School experience help your career?
I felt respected at Crescent, which is a value that is important to us at Steam Whistle. The teachers and students were viewed as equals – teachers respected their students and let them be who they really were.
What advice do you have for aspiring entrepreneurs?
Starting a business doesn’t need to be a massive risk. If you are already working, you don’t need to quit your job to write an incredible business plan – use your evenings and weekends to craft your plan. And you don’t need to be rich to start your own business. Just put in what you can to ensure that you are investing in yourself.
Back
Founder and CEO of FreshBooks, a cloud-based accounting software system for freelancers and small business owners. He launched FreshBooks when he was in his late 20s.
What inspired your company?
In 2003, I was running a small web design firm and using Word and Excel to bill my clients. When I accidentally lost an invoice, I knew there had to be a better way to create simple, professional-looking invoices. That’s when I created a cloud-based system that became FreshBooks.
What have you learned the most from starting your own company?
The best thing I have learned is to surround yourself with people with shared values, and to focus your alignment on those shared values.
How did your Crescent School experience help your career?
The size of the school and the support from my teachers made me feel like I could do anything if I applied myself. In particular, Ms. Linda Gray was an incredible teacher. In fact, she connected me with my first client for my web design business.
What advice do you have for aspiring entrepreneurs?
Starting your own business can be messy, but don’t give up! And if you don’t know what you want to do, then focus on the things you love and let that drive you.
Oleg Baranov ’11
Co-Founder and Chief Design Officer of CleanSlate UV, a portable solution for sanitizing mobile devices in healthcare and other bacteria-sensitive industries. He was 20 years old when CleanSlate UV launched.
What inspired your company?
My family has definitely been the biggest inspiration. I come from a family of entrepreneurs, and seeing their examples as I was growing up had a profound effect. They have been extremely supportive.
What have you learned the most from starting your own company?
Starting a business is a marathon, not a sprint. You really have to pace yourself and prepare for the long haul. Quick successes that cause a stir in the media are just outliers. And even if you have all the odds stacked to favour you, it’s all about execution and your ability to deliver.
How did your Crescent School experience help your career?
I got involved with FIRST LEGO League in Grade 7 and over the next two years I became engulfed in robotics. I was exposed to engineering and design, teamwork, leadership and a healthy dose of competition. In Grade 9 I joined Team 610, and the rest is history. This unique environment gave me an opportunity to grow and develop as a person on many different levels. It challenged me intellectually, through designing and manufacturing components and creating game strategies during competition. At the same time, I learned critical time management and decision-making skills that I use to this day. It was the hardest and most exhausting fun out there, but I wouldn’t trade it for anything else.
What advice do you have for aspiring entrepreneurs?
It’s okay to fail – everyone will at some point. But it’s not okay to not try.
Chris Candy ’02
Co-Founder and Director of Business Development at SevenMedia Inc., a mobile marketing lab that specializes in developing augmented reality apps. He was 26 years old when he launched SevenMedia.
What inspired your company?
I was working in the finance sector following university, but I realized that wasn’t what I wanted to do with my life. I had much more of an entrepreneurial spirit. My company launched as an SMS texting-type system that companies could use for “text to win” programs. It evolved into what it is today in response to market demand.
What have you learned the most from starting your own company?
The importance of patience is huge! When you’re first starting out, you’re going to want things to happen immediately. Most times these things are out of your control and you just need to have patience and let things happen without forcing it.
How did your Crescent School experience help your career?
Crescent helped me learn great time management and organizational skills that I continue to use today. At Crescent, you’re encouraged to get involved with extra-curriculars, volunteer opportunities, music etc., while still getting your work done. When you’re first starting out with your own business, you’re expected to do everything – you’re the accountant, HR personal, office manager, business developer and more. Therefore, you need to be able to balance and wear all those hats without becoming too overwhelmed.
What advice do you have for aspiring entrepreneurs?
Never be afraid to say “no,” whether it be to possible business or to an existing client or customer. When you're starting off, or even four years in, you're trying to grow and bring in business. You end up wanting to make everyone happy when it's just not possible. A lot of entrepreneurs and sales people will say “yes” and then try and figure it out after the fact. Saying “no” keeps you on track and focused on your core competencies. It also helps with customer service. We could have taken on more jobs on a few occasions but at the expense of the ones we already had in development. Saying “no” made sure we weren't upsetting our current customer base and the potential clients were impressed enough to wait for when we were ready.
Trevor Wallace ’00
Principal at Reflect Architecture Inc., an architectural services firm whose clients range from small-scale residential projects to multi-country commercial outfits. He had just turned 30 when he officially incorporated Reflect Architecture.
What inspired your company?
Clients often hire architects because they want a space designed for them. I wanted to focus on first delivering a collaborative consumer experience within the design phase, after which the piece of architecture will follow naturally. If the former is well executed, the later will be innovative and considerate.
What have you learned the most from starting your own company?
Everyone is different, so awareness and flexibility are essential. Stay rested and stay healthy. No one can work all the time – at least not efficiently. Endeavour to build your networks with care, and always play the long game when making business decisions.
How did your Crescent School experience help your career?
I wouldn’t have known it at the time, but the most valuable skills I took away from Crescent never had marks associated with them. They were learned somewhere in the extracurricular and social minutia of the school.
What advice do you have for aspiring entrepreneurs?
Be unique, be confident and be humble. Ask good questions. People want to work with people they like. Find good mentors. Understand what you are good at, but more importantly, understand what you are not good at and figure out how to fill your skills gaps.
Cam Heaps ’92
Co-Founder of Steam Whistle, an independent brewery based in Toronto. He was 24 years old when Steam Whistle launched.
What inspired your company?
My two friends and I lost our jobs at Upper Canada Brewer when it was bought out by Sleeman. While travelling together, we realized that making good beer is what we wanted to do the most, and that was our inspiration to launch Steam Whistle together.
What have you learned the most from starting your own company?
There is no such thing as a smooth ride, there is no perfect execution, and how you handle those bumps in the road is what will determine if you have what it takes to follow through. Secondly, in the beginning you will need more money than you think you will. Take the time to raise that capital beforehand, because it is a lot easier to do it in the beginning!
How did your Crescent School experience help your career?
I felt respected at Crescent, which is a value that is important to us at Steam Whistle. The teachers and students were viewed as equals – teachers respected their students and let them be who they really were.
What advice do you have for aspiring entrepreneurs?
Starting a business doesn’t need to be a massive risk. If you are already working, you don’t need to quit your job to write an incredible business plan – use your evenings and weekends to craft your plan. And you don’t need to be rich to start your own business. Just put in what you can to ensure that you are investing in yourself.
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