Local Leaders – Turning a simple, local concept into a serious business
Date: June 4, 2015
Name: Local Leaders – Turning a simple, local concept into a serious business
Presenter: Andrew Shepherd
Many local leaders start their entrepreneurial journey from a simple idea. Furthermore, with enough executions, they turn their ideas into profitable business. Local Leaders event, hosted by Small business BC, invites Andrew Shepherd, the CEO of Vancouver Island Salt Co, to share his journey of building his company from scratch. In this presentation, leaders will learn the challenges and strategies from Andrew Shepherd and apply them into their businesses. Moreover, Andrew Shepherd will discuss the motive behind his business.
Andrew Shepherd, the CEO of Vancouver Island Salt co, came from the background of culinary arts. With over many years of working in the kitchen, Shepherd established the passion toward gourmet retail products. Based on rare bet for a case of beer, Shepherd discovered the sea salt from Vancouver Island. Shepherd was awarded as one of the Western Living Magazine’s Top Forty Foodies Under 40, Canada’s Top 20 Food Artisans, and 2014 Winner of the Telus and The Globe and Mail’s Small Business Challenge.
Shepherd mentions within the 6 years of business, he focused 5 years on sustainability. There is a huge demand market that wants the sea salt. Shepherd starts his business from a simple concept of boiling water. By continuously boiling water, he managed to discover a system to process sea salt with efficient procedure. Shepherd considers himself as the expert of sea salt.
Canada is a country with clean water. Shepherd believes Canada has the prime position to make sea salt. The opportunity can potentially turn Canada into sea salt nation. Shepherd shares it is important to build the industry because it can create opportunity for people. When they begin to see the trend, they will become the innovator to evolve a simple idea into an amazing business.
It is important to differentiate from locals. Shepherd believes his company value comes from delivering high value of sea salt globally. The growth is unlimited.
Shepherd suggests local leaders to be the first, be the best, be the fast, and be different. Leaders should review their current services and try to discover ways to be different from their competitors.
“Be the first, be the best, be the best, be the fastest and be different”
Many people think they need business plan to start a business, but Shepherd started his business without a business plan because he did not have the chance to do it and he was forced into it. Shepherd recommends leaders to think simple. Business does not need to be fancy. At the start-up phase, business should only be simple and focus. The primary mission is to bring people who are interested into business. Everything can be self-taught from experience. Overall, Shepherd shares his 3 simple strategies.
- Start small
- Go beyond and change the market
- Expand
The important concept in Shepherd’s business is to set a strong price point. Shepherd believes it is important to keep it affordable for locals. This will narrow the economy of scale. Vancouver Island Company starts at a small percentage of the market, but with enough execution and actions, the company is able to sustain growth for future.
The advice Shepherd wants leaders to learn to be patient because business eventually will grow.
Shepherd mentions in his business, it is important to have FDA approval. The paperwork is required for going global because other countries only recognize approval and qualification.
Many major cities have gourmet stores except for Canada. Canada is missing out the opportunity. Shepherd believes salt is the next global impact. Moreover, Shepherd only focus on the quality of the sea salt. In his vision, the quality will help the company to rebrand for competitors advantage.
Shepherd spends a huge amount of time to know the clients. He discovers people are starting to care about health in this generation. Originally, Shepherd only focuses the target market from end users; however, it will miss out the business relationship. Therefore, he refocuses the primary market to wholesale or distributors.
There is a trend for local leaders to implement environmental aspects into their business strategies. Shepherd emphasizes the only way to do that is to allow government to subsidize the green. This will help reduce the price and help everyone to save the environment.
Shepherd has won the Telus and The Globe and Mail challenge award. He shares it is important to show a clear vision. The strategies must relate to local community. It is not necessary to project the future if the company is going to burst. By telling a good story, leaders will leverage their ways to enter the challenge.
In order to have the clean water, leaders can test the water sample. The conclusion shows the best water comes only in peak tide.
Shepherd believes the local community supports him all the way. With farming background, Shepherd mentions people do not make, they harvest. It is difficult to discover the right talent. The work from Vancouver Island is not normal.
Over sea discovery is one of the best way to improve the culture. Shepherd believes on day he will bring from Canada to Hong Kong.
“If your product is good, people will not ask money at front”