Self-employment
Student fashions bright futureMike Nurmsoo has always had a bit of the entrepreneurial spirit in him. And it was two years ago, as a Grade 11 student at Northern Secondary, that inspiration struck. |
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 [ 2002-03-27 ] |
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"I was doodling in class, and I drew a logo I really liked that read 'Krome Athletix.'," says Nurmsoo, 17. "Other people liked it, and said 'why don't you do something with it?' -- so I did."
Nurmsoo's idea was to launch a clothing line with an urban athletic style. He had plenty of drive, but was lacking the know-how or the funds to get anything off the ground.
Then his mother, a high school teacher at Bloor Collegiate, tipped him off to Summer Company, a program run by the Ministry of Economic and Trade that gives young entrepreneurs the resources they need to get started.
Through the program, Nurmsoo was able to obtain a total of $3,000 in startup money, and pick up vital business skills through training sessions that covered everything from sales to accounting to marketing.
After conducting his own market research and pinpointing the right contacts within the industry, Nurmsoo was finally able to launch Krome Athletix in the summer of 2000 -- a line of casual clothes geared toward skateboarders, breakdancers and self-styled urbanites.
Nurmsoo was able to get additional capital by getting his friends to pay for half of the price of their shirts up front, and the other half when they were ready.
A few months into his endeavor, Krome Athletix, run out of his home, was turning a small profit, and Nurmsoo had become well-versed in managing a business.
"I started off with no business knowledge at all, and was trying to pick up what I could at every opportunity," says the Toronto native. "The program showed me it's really possible to run a successful business, as long as you're willing to work at it."
Nurmsoo says the response from those around him was really positive. His mother is very supportive, and his friends couldn't believe he was running his own company.
"They think it's really cool," Nurmsoo says. "I keep telling them about the program, and saying 'you guys are as smart as me, you have the opportunity -- why don't you do it.'"
What Nurmsoo learned most of all from the experience is that he really enjoys the freedom and independence of being his own boss.
"I don't have a problem with authority, but I like making the decisions," he says. "A lot of the time I think I'm right, and I think I would make the best decision in a situation."
Over the last six months, Nurmsoo has put the business on hold to finish up high school, and is focused on pursuing post secondary education at Royal Military College this fall.
"It (Summer Company) opened up the world of entrepreneurship as a viable profession for me," Nurmsoo says. "I intend to keep running this business down the road, and maybe start another business as well, depending on what looks good in a couple of years from now."
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