Secrets of a Canadian Company with 465% Growth and $10 Million in Sales
I recently got the chance to interview Tony Lourakis, CEO of Complete Innovations. Celebrating its 10th year in business in 2010, Complete Innovations has increased its revenue by 465% within the past five years, achieved over $10 million in revenue, and has over 30,000 mobile subscribers.
Here is what I asked him and how he answered:
1) Please tell me a little bit about yourself and Complete Innovations.
I’m Tony Lourakis, CEO of Complete Innovations. It is a company that provides mission-critical software solutions that optimize operational efficiencies, monitor, manage and track company fleets, to meet the growing needs and business challenges of mobile workforce and transportation-related companies.
Complete Innovations was founded in 2000 and continues to see significant product and partnership growth over the years. We have tripled our revenue since 2006, increased our customer base by approximately 700 per cent and aggressively expanded our global presence. In the past couple of years, we’ve been named one of IDC Canada’s “10 to Watch” and ranked as one of Canada’s Fastest-growing companies by PROFIT 100 two years in a row.
2) The mobile market is full of tough competition – what really makes you different?
I believe that Complete Innovations is forward thinking and innovative in all aspects of the business. Having a go-to-market strategy, a strong product, a clear understanding how the market will evolve and positioning ourselves as having the right solutions in the right package at the right time have been the keys to our success. You can introduce a product too early; there is “bleeding-edge” and “leading-edge”.
3) Where did the idea come from to start Complete Innovations and how did you get your first client?
I’ve always been an entrepreneur. I founded my first software and IT consulting company at the age of 18 and as a result of my work and partnerships in the 1990s, I had a vision for transforming the courier service industry through the use of innovative GPS-based technologies.
My first client came about when I was dabbling in social media. I was promoting Complete Innovations on an online courier forum and started getting leads. I landed my first customer, who was based in Oregon, within 3 weeks of launching.
4) What 3 pieces of advice would you give to a startup entrepreneur who is trying to grow his / her business?
1. Make your business cash flow positive as quickly as possible.
2. Surround yourself with the right people. Your first few hires are extremely important. They need to be the best of the best; people who will over deliver and believe in your company from the start.
3. Get out there and get customers as fast as possible rather than waiting for the perfect infrastructure. Speed is often better than quality in the beginning. Generate business and revenue quickly.
5) What’s the biggest mistake you’ve made so far in your business career?
Not firing when I should have. If you have someone that doesn’t fit, but chose to ignore it or hope it will go away, reconsider. Trust your instinct.
6) If you sold Complete and signed a non-compete so you couldn’t be in the mobile space, what would your next business be and why?
Depends on how much I sold it for. If it’s enough, I’d open a winery in the Mediterranean.
What do you think about Tony’s advice? What would your 3 pieces of advice be for startup entrepreneurs?
I’d love to hear your thoughts if you leave a comment below!
RT @TopsyRT: Secrets of a Canadian Company with 465% Growth and $10 Million in Sales http://bit.ly/bT6zci
This article is very interesting.
Nice article.
It is an awesome experience to read this blog. The interview must be essential for someone involved in business, the growth percentage of the company is really unbelievable. I have a plan to set him as my role model.
Very impressive article. I like it. This article gives good information about this Canadian company. Thanks for writing it.
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One more wonderful post by you. Your posts are really inspiring for new businessmen like us. I have really started liking your blog now. Great work. Keep it up.
Nice article to read to get an idea about entrepreneurship.
Interesting conversation, and I really like the way and tone he answered all the questions. It really impressed me and gave the inspiration on how to follow your instinct.
Secrets of a Canadian Company with 465% Growth and $10 Million in Sales http://bit.ly/bT6zci
The innovation is in your own Company brand. Your policies and strategies are basic and everlasting. After six years of hard work the next six years your dedicated effort turned to triple revenue output. A good interview article about a young entrepreneur. Evan, you did the best and I enjoyed reading the article. Thank you for your effort.
Good blog. Nice content. Good design.
Good content.
Hey, Evan:
Tony’s advice is excellent! In particular, point #3 noting that “speed is often better than quality in the beginning. Generate business and revenue quickly.”
As an online entrepreneur, one of the biggest challenges I have is getting targeted traffic to my marketing sites and generating sales. And I believe one of my “mistakes” has been to try to get all my ducks in a row before focusing on traffic methods. Tony’s advice – and his success – is inspiring!
Very nice and interesting article.
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Your article is very interesting. It gives helpful information about the tricks of growing a company.
Very nice site. Useful content. I like this article.
Nice. It’s a very interesting article. It has very useful information about this Canadian company.
Interesting and useful article. The answers given by Tony Lourakis are useful tips for newbies in business.
This article touched on something very fantastic and useful for study.
Very nice to read and interesting article.
Great achievement in a short time. Doing the right things at the right time will bring this kind of success with this much of profit of 465%.
Those are some serious growth numbers. I have never seen anything like it. This could be great information for any business no matter how large or small.
It’s a good subject and the best person to interview. What an achievement for this company. All the conversations above are really good and very useful, all of them are very informative. Thanks for this.
Great interview. I completely agree with #2. Hiring the right people is an important part of the equation. And his last answer is interesting…is Tony a wine connoisseur, perhaps?
The article is very impressive. The Complete company is really a forward-thinking and efficient company. Tony Lourakis, CEO of Complete Innovations, has really done hard work for the success of this company. The article is really useful for novice companies.
It is a very interesting and useful article. I like this. thanks.
The article is awesome and very interesting. The article shows how Complete company through firm determination reached success. The article is more useful to those firms that are growing at slow rate.
It’s a good article and interview with a great person, who achieved a very big goal in business. This is very informative, useful and inspirational, keep sharing this kind of useful interviews.
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It is very great to know about the super growth of this Canadian company. It shows the potential of hard work. It is really a very useful article, I really appreciate it.
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Nice article.
This is such useful information for those starting new businesses. Nice article.
This blog shares the secrets of a Canadian company and is great information for the startup entrepreneur. Thanks for the great article.
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Really a nice article. I especially liked the advice for new entrepreneurs.
Very informative content. I’ve found your site via Google and I’m really glad to have found the information you provide in your posts. Keep up the good work!
Tony Lourakis, he’s the man. 465% growth and $10 million; whoa, amazing production. I still can’t believe it.
This article is very nice, obviously great.
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This nice interview is essential for someone involved in business. The growth percentage of the company is really unbelievable. I have a plan to set him as my role model.
Actually, it’s a very interesting interview. I would like to see more of the same.
Your article is very nice.This is article is very helpful for new business ideas. It is very interesting to read. This article gives more knowledge about growing a company. Thank you very much for this article.
Good blog. Gives Tony’s interview of how to success in life and how he had faced the challenges in bringing the company to such a level.
It was amazing reading the interview of Tony Lourakis, CEO of Complete Innovations. Really informative.
I join everyone else in congratulating this fine entrepreneur. He has vision and daring to take the right decisions at the right time. I wish him greater success in the years to come.
One of the world’s best.
It’s a very informative article. Thanks for sharing success tips for those running a company.
I like this blog! The articles are very interesting.
Enjoyed reading this informational and inspiring blog post. The author has done a commendable job. I am sure this article is going to inspire many wannabe entrepreneurs to dream of becoming as successful as Tony Lourakis some day. Moreover, the three pieces of advice mentioned by Tony are pretty useful and worth following. Generating cash, building the right team and marketing aggressively, all are important, if one wants to survive in today’s highly competitive market environment.
Great article,
465% growth and $10 million AMAZING
I am completely amazed by his success within such a short period of time. Truly inspiring!
I will bookmark your blog and have my kids check up here frequently. I’m certain they will understand more new stuff here than anywhere else. I do appreciate that you’ve added relevant and intelligent commentary here though. Thank you!
Secrets of a Canadian Company with 465% Growth and $10 Million in Sales http://ow.ly/2C2OH
A great Leader. He is a leader who can take the right decision at the right time. Success will definitely come to his feet.
Dear Evan, Why can’t we share your blogs to facebook, all these jems of professional mentoring?
RT @EvanCarmichael: Secrets of a Canadian Company with 465% Growth and $10 Million in Sales http://bit.ly/bT6zci