My Best Mistake

According to James Keirstead, director of marketing and information technology at Blue Falls Manufacturing Ltd. >

My Best Mistake

Gary Browning, president
Company: Browning Horrocks Golf Design Inc.
What they do: Design golf courses
Best mistake: Giving up lucrative Chinese contracts >

Angie Sampson, owner
Company: Limetree Media Ltd.
What they do: Sell Adpads, a vinyl pad bearing advertising messages that can be laid on paved surfaces or floors
Best mistake: Forgetting what the company was supposed to sell >

My Best Mistake

Arlene Flock, owner
Company: Flagworks Inc.
What they do: International flag and corporate-wear retailer
Best mistake: Saying no (finally) >

My Best Mistake

Brian Cymbaluk, director of operations
Company: Axe Music
What they do: entertainment equipment retailer
Best mistake: neglecting to check zoning >

My Best Mistake

Wesley Wall, vice-president, development, Genics Inc. >

My Best Mistake

Call it accidental success. When smart leaders turn around bad circumstances, it’s a win-win situation.

Cliff Vallentgoed, owner
Company: Redbike
What they do: bicycle retailer and repair shop
Best mistake: being an absentee owner

In 1997 we opened Redbike in Edmonton. We were severely undercapitalized and depended on receiving stock on credit from suppliers. As risky as that can be, we finished our first fiscal year in the black, and stayed there. In 2000, we started looking at expanding and Red Deer looked like a good market. We checked the regional growth and local income figures and, most important, there was no competition. Everything looked absolutely positive, and that’s when the mistakes started piling up.

We hired a manager we knew and trusted who was from Edmonton. But he quickly grew tired of being away and started spending more time away, until he moved back here. We went through that twice, and couldn’t find someone to dedicate himself to running a successful business.

We looked at the numbers then and realized we had done nothing but lose money and had diluted our business as well. We closed our doors after 18 months. I realized no one will ever take care of your business the way you will, and I was able to put it in perspective. Now I can dedicate myself to our customers, and still concentrate on expanding the company. That’s a very integrated process.

My Best Mistake

Call it accidental success. When smart leaders turn around bad circumstances, it’s a win-win situation. Alberta Venture invites entrepreneurs to share their inspiring tales by sending an e-mail to feedback >