Dream big and big things will happen. It’s a philosophy that has worked well for entrepreneur John Hoffe.
The 41-year-old Carlsbad business owner is president of Westco Remote Systems Inc., a company that sells commercial and residential video monitoring systems under the trade name Eyesitter. It is the third company Hoffe has run.
One of his early jobs was overseeing a chain of Canadian consumer electronic stores that had annual revenues of $6 million. The other was overseeing an ADT Security dealership that had $16 million in annual revenues.
Hoffe, who founded Westco less than two years ago, expects $1.1 million in revenues for 2006 , his first full year in business.
“I’m an individual who dreams big,” Hoffe said. “Currently, we are a small business but with aspirations of becoming a larger business.”
The company collects and stores data at its Carlsbad facility, as opposed to asking customers to fumble with videotapes or other in-home recorders, due to the Eyesitter system, which uses video monitoring technology.
Eyesitter systems can be accessed remotely by customers to check in on house help, older children or parents and it can also be used to let distant family members “virtually visit.”
Hoffe said family members in Canada have used Eyesitter to see his 2-year-old daughter as she grows up in San Diego.
VITALS
Name: John Hoffe.
Title: President.
Company: Westco Remote Systems Inc. (trade name Eyesitter).
Company address: 2195 Faraday Ave., Unit A, Carlsbad.
Company phone: (760) 476-0990.
Year founded: 2005.
Prior business experience: President and chief executive officer of a chain of consumer electronic stores in Canada; president and CEO of an ADT Security dealership.
Average hours worked weekly: 60.
Source of startup capital: Self.
Projected 2006 revenue: $1.1 million.
2005 revenue: $200,000.
Number of employees: 10.
Web site: www.eyesitter.com.
BACKGROUND
Birthplace: Calgary, Alberta, Canada.
Education: University of Calgary, bachelor’s degree in political science, commerce.
Age: 41.
Current residence: Carlsbad.
Family: Wife, Summer, and daughter, Grace, 2.
Hobbies: Tennis, hockey and golf.
JUDGMENT CALLS
Reason for getting into business: The effectiveness of a trip and ring security system was becoming more and more obsolete. Intruders have at least 30 minutes before they have to concern themselves with a police response. Eyesitter provides a better alternative.
How I plan to grow the business: Corporate sales in Southern California, national residential advertising programs focusing on young families and target demographics, and either a dealership or franchise program, most likely dealership.
Biggest plus of business ownership: Always having a dream.
Biggest drawback: Always dreaming, it never leaves you.
Biggest business strength: Understanding customer needs and wants, and finding a way to get it to them.
Biggest business weakness: Details.
Biggest risk: Being wrong.
Smartest business decision: To own my own company.
Biggest business mistake: Selling customers to others, such as ADT, DirecTV, cellular networks. You end up with little equity at the end of the day.
Toughest career decision: To start again.
Biggest ongoing challenge: Growing one’s business to the level of aspirations I have. It would be so easy to be satisfied with a local strong business but I have done that and want a new experience.
The most important part of my business: My customers’ needs, without them I have nothing to do.
My business works best when: We have met the magical number or place where all components connect: offer, price and delivery.
Best way to stay competitive: Never be satisfied and find competition.
How I measure success: Let me qualify just for business success: It’s when people you have never met know your company and recognize your brand in a positive light. It means you’ve got your company to work for you as opposed to you working for it.
GOALS
Goals yet to be achieved: To establish Eyesitter as the leader in cost-effective remote video solutions in the United States and Canada. To capture a significant portion of the market before any competitor can provide an adequate alternative solution.
My five-year business plan: To develop an industry and be the recognized leader in it, with more than 100,000 customers.
I would sell my business only if: It interfered with my relationship with my child and future children. I would consider selling part of the business if the partnership was right and had a mutual vision.
Guiding principles I will continue to follow: Fulfill the customer’s needs as effectively as possible. Build equity in your accounts and give them a reason to need you every day.
