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BUSINESS 101: COMMON SENSE JASON’S STORY: THE BIRTH AND GROWTH OF VIVERE LTD.

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Presentation on theme: "BUSINESS 101: COMMON SENSE JASON’S STORY: THE BIRTH AND GROWTH OF VIVERE LTD."— Presentation transcript:

1 BUSINESS 101: COMMON SENSE JASON’S STORY: THE BIRTH AND GROWTH OF VIVERE LTD.

2 1976 TO 1995 PETERBOROUGH, ON, CANADA BORN AND RAISED ON A DAIRY FARM FARMING WAS FINANCIALLY CHALLENGING HARD WORK WAS MODELED BY MY PARENTS SPORTS DRIVEN TO WIN COW KING 1995: AMERICAN FOOTBALL AT THE UNIVERSITY OF GUELPH

3 1995 TO 2000 UNIVERSITY OF GUELPH AMERICAN FOOTBALL SUCCESS COW KING IDEA WAS DEAD 1999: GRADUATED WITH A BSC (AGRICULTURE) FLORICULTURE INDUSTRY START A FLORICULTURE BUSINESS MBA

4 2001 TO 2002 MBA FINALLY! FLORICULTURE BUSINESS IDEA WAS DEAD UNIVERSIDAD DE GUADALAJARA, MEXICO, AUGUST 26, 2002 TO DECEMBER 20, 2002 MEXICO! OCTOBER 5, 2002: THE BIG EVENT!

5 SATURDAY OCTOBER 5, 2002 http://www.flickr.com/photos/toekneestuck/4661834402/in/photostream/

6 JANUARY 2003 MEXICO JANUARY 14 TO 24: MERIDA, MEXICO DAY 1: SUCCESS! DAY 2-8: PURE ENJOYMENT DAY 9: JANUARY 23, 2003 RICHARD DAY 10: RETURNED TO CANADA

7 2003 CFO PLAN HAMMOCK VILLAGE LAUNCH FOR 2004

8 2004 JANUARY 10: MARRIED FAYE CFO JOB: 5 TO 4 DAYS PER WEEK FEBRUARY: FIRST CONTAINER (20FT) FROM BRAZIL, $60,000 USED STUDENT FUNDS, SAVINGS AND PROCEEDS FROM FAYE WAREHOUSE: MY RENTED HOUSE SALES STRATEGY: COLD CALLS TARGET MARKET SALES: $21,000 PROFIT: -$12,369

9 2005 SALES: $30,558 (50 % GROWTH) PROFIT: -$881

10 DECEMBER 29, 2005

11 2006 DECEMBER 29, 2005: 540 HAMMOCK STANDS FROM CHINA $25,000 FEBRUARY 14: ANNIKA IS BORN 2004 CONTAINER LCL SHIPMENT FROM BRAZIL $20,000 SALES STRATEGY: STILL COLD CALLING TARGET MARKET: GARDEN CENTRES/NURSERIES SALES: $60,888 PROFIT: $1,001

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13 2007 CFO: 2 DAYS PER WEEK ADDED ROPE & NYLON HAMMOCKS, 15FT STANDS VISIT CHINA CANADIAN SHOWS SALES: $146,000 (GROWTH OF 140 %) PROFIT: $9,300

14 2008 JANUARY 25: QUIT MY CFO JOB. MARCH 3: JACOB IS BORN SALES: $250,000 (GROWTH OF 71 %) PROFIT: $41,000 (EBT)

15 2009 INCORPORATED: HAMMOCK VILLAGE LTD. HIRE FIRST SALES REP FOR QUEBEC BIG BREAK: HOME HARDWARE (1,200 STORES, $5B SALES) SALES: $614,000 (GROWTH OF 146 %) PROFIT $100K+

16 2010 JANUARY 1, 2010: VIVERE LTD. “INSPIRED OUTDOOR LIVING” AND “DRESS UP YOUR BACKYARD” JUNE 28: BUY A FARM DECEMBER 19: RUBY IS BORN SALES: $722,000 (GROWTH OF 18 %) STABILITY: QUALITY CONTROL GOOD NETWORK NOVEMBER 5: HIRE FULL-TIME ADMINISTRATOR IT’S TIME: “PEDAL TO THE METAL”

17 2011 CYPRESS WOOD STAND 6 MORE SALES REPS: JUNE 2011: USA LAUNCH SALES: $1,035,000 (GROWTH OF 43 %)

18 2011 LAUNCH INTO USA STRATEGIES HIRE REGIONAL SALES REPS ATLANTA GIFT SHOW AND CHICAGO OUTDOOR SHOW EXTREMELY COMPETITIVE PRICING STEAL MARKET SHARE ONLINE RETAILERS SMALL BUSINESS – SPECIALTY RETAILERS (NOT MASS MARKET) WAS IT A SUCCESS OR FAILURE?

19 2011 LAUNCH INTO USA FAILURE! - MAJOR DISAPPOINTMENT….WHY? TOTAL SALES $112,000 TOP 5 CUSTOMERS: $40,212 (36 % ) $19,750 (18 % ) CLOSEOUT SPECIALISTS $16,589 (15 % ) $ 9,400 (9 %) LIQUIDATORS $ 6,379 (6 % ) MAKE CHANGES OR BE PATIENT

20 2011 LAUNCH INTO USA ONE YEAR LATER… 2011 STRATEGIES HIRE REGIONAL SALES REPS ATLANTA GIFT SHOW & CHICAGO OUTDOOR SHOW EXTREMELY COMPETITIVE PRICING STEAL MARKET SHARE ONLINE RETAILERS SMALL BUSINESS – SPECIALTY RETAILERS (NOT MASS MARKET) 2012 STRATEGIES HIRE ONLINE SALES REPS & IN HOUSE REP LAS VEGAS INT’L HARDWARE & CHICAGO OUTDOOR SHOW COMPETITIVE PRICING FOCUS AND PROMOTE OUR NICHE ITEMS ONLINE RETAILERS (EXTRA FOCUS) GET READY FOR MASS MARKET, SPECIALTY RETAILERS WILL COME NATURALLY

21 2011 LAUNCH INTO USA ONE YEAR LATER…

22 2012 USA MARKET TOTAL SALES $1,000,000 AMAZON.COM OTHER MASS MARKET DIRECT IMPORT SPECIALTY RETAILERS DISCOUNT RETAILERS

23 2012 TOTAL SALES $2.5M (146 % GROWTH) HIRED MORE PEOPLE LARGER WAREHOUSE EDI SOFTWARE MORE FINANCING

24 2013 TOTAL SALES $5.7M (123 % GROWTH) USA $3.5M CANCELLING ORDERS VERTICAL INTERGRATION NEW FACTORIES EXPANDING EXISTING FACTORIES HIRING MORE PEOPLE MORE FINANCING

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26 SUCCESS FACTORS NICHE PRODUCTS ECOMMERCE QUALITY PRODUCT SERVICE! SERVICE! SERVICE! QUANTITY TIMING PATENTS ASIA

27 MARKETING STRATEGIES SELL WHERE THE TRAFFIC EXISTS COOP ADVERTISING CONSUMER REVIEWS BRANDING SHOWS/EXHIBITIONS SOCIAL MEDIA WEB-SITE

28 TAKE HOME MESSAGES WORK WITH SOMETHING YOU ARE PASSIONATE ABOUT BE FLEXIBLE AND PERSISTENT INVEST TIME AND MONEY FOCUS ON AREAS THAT ARE GOING TO GENERATE MONEY BE FORWARD THINKING WITH BIG STRATEGY, BUT LOCALLY FOCUSSED

29 EUROPE WHAT WOULD BE YOUR STRATEGY TO LAUNCH VIVERE LTD. INTO YOUR HOME COUNTRY? CAN YOU IDENTIFY DIFFERENCES BETWEEN WESTERN EUROPE AND NORTH AMERICA?


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