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March 16, 2010

Cardmember Profile: Victory Enterprises

Cardmember Profile: Victory Enterprises

Summary

Steve Grubbs is the Founder of  VictoryStore.com  and  Victory Enterprises .   First job... In

 Steve Grubbs is the Founder of VictoryStore.com and  Victory Enterprises. 

First job…
In my first paid position, I worked as a grassroots organizer for Senator Bob Dole's Presidential campaign in Iowa.

I started my own business because…
I am an entrepreneur at heart. I enjoy working hard and reaping the rewards of that hard work.  If I fail, I have only myself to blame, and therefore, self-employment is the only option.

When not at work…
Typically, I am at activities with my children. I am the high school debate coach and with four children in both academic and sporting activities, my wife, Kelli, and I are both on the run.

My role model…
Historically, I like the way Thomas Edison worked and implemented.  Most people don't understand that Edison's real genius was creating the electrical grid that could power his light bulbs.  In the modern era, I try to follow in the footsteps of visionaries like Elon Musk.

What defines leadership in business …
Leadership in business requires first, a willingness to try and fail.  We launch new products and new product lines all the time. Most fail, but some succeed.  Our most recent success, www.BigFunnyCards.com has started off with solid growth. Having said that, we have plenty of failures.  The second part of business leadership is forging into areas that are generally uncharted.  This requires critical thinking and a certain amount of nimbleness.

Best business advice I’ve received…
Start a business with a large potential market. It's better to have 5% of a large market than 50% of a small market.

My advice to other business owners…
Don't 'gamble it all on one idea or product.  Most of the time, succeeding in business means 'living to fight another day.' So, be measured in your gambles, but put a strong effort behind each new line.  The second piece of advice is to take advantage of new technologies to capture downtime. When a few minutes of downtime present themselves between meetings or while you are waiting for the kids to get out of the locker room, use that time to be productive. Productivity has a compound effect over time.  Finally, dedicate at least 30% of each day to business growth. Most business owners are so consumed managing the present, they put little time (or no time) into future growth. This is the greatest of mistakes.

I’m most proud of…
Building VictoryStore.com (our Internet company) and Victory Enterprises (our consulting company) into a $20 million per year enterprise after starting in my basement in 1997 with $500.

How OPEN helps my business …
It is nice to have a set of resources at ones fingertips for almost any business issue or challenge.