Self-employment
'Why-not' attitude motivates entrepreneurShe was just 13 when her father handed her a blank book with a brief inscription: "Things I want to do before I die." Forty years later, entrepreneur Viive Tamm has accomplished most of her goals. The last item on her list -- establishing her own business -- has been accomplished several times over. |
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 [ 2008-02-20 ] |
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Since 2002, Viive Tamm of Tamm Communications has been honoured annually by Profit Magazine as one of Canada's Top 100 Women Entrepreneurs.
'DO ANYTHING'
"I grew up believing I could do anything I want," says Tamm of Tamm Communications Inc., an advertising and communications agency in Toronto. She credits her Estonian parents with instilling in her a "why-not" attitude and has learned the value of putting goals to paper.
Her father, a physician, represented Estonia in the 1936 Olympics. Unable to practise medicine when he immigrated to Canada, he attended university at night while working in an assembly plant during the day and earned his law degree.
Tamm studied physical education at the University of Toronto, where she became the country's first female football referee. It never occurred to her that her application would shock the interviewer. "I was told that I had a calming influence on players and that I was fair," the Collingwood native says. "Some people thought I could be bullied, but they soon learned that I couldn't be."
Massive teacher layoffs forced Tamm to reconsider her goal of becoming a teacher and she landed a job in advertising. "I didn't know anything about advertising and sales, but put my hand up to do anything that needed to be done," she says.
Her first entrepreneurial venture was as co-owner/ publisher of the critically acclaimed music/lifestyle magazine Graffiti. While there, Tamm co-founded Ad-Link Advertising. "Our production department was only really busy one week a month. I thought I'd start an advertising agency with our creative folks so they could be busy all the time."
A recession took its toll on the magazine, which eventually folded, and Tamm sold Ad-link to her partner in 1996. Two years later, she created Tamm Communications with business and life partner Iain Rankin. "I had to start from below ground zero because I couldn't touch anyone I knew (from Ad-Link) for three years," she says. "I was at a huge disadvantage."
She put that disadvantage to work and since 2002, has been honoured annually by Profit Magazine as one of Canada's Top 100 Women Entrepreneurs -- moving from 76th place in 2002 to 47th place in 2006. "It's a great feeling, but it is a little humbling, too," Tamm says. "It's fantastic to see yourself moving up every year. That tells me the company and our team is doing well."
Along the way, Tamm gives her time to such organizations as Big Sisters, Operation Migration, SOS Children's Village and Golden Rescue, which rescues abandoned or abused Golden Retrievers.
EMPLOYEE OWNERSHIP
A decade after founding Tamm Communications, Tamm and Rankin began to think about their future retirement. They faced grim statistics: companies sold to a third party have a 30% chance of survival and those sold to a family member have a 50% chance of survival. Odds increase dramatically to 80%, however, when the company is sold to employees.
Tamm was also worried by statistics that suggested 70% of her staff would not survive a buyout. "I didn't want to do that to a group that made this company what it is," Tamm says. A decision to put 49% of Tamm Communications in employee hands through an employee share ownership plan was not without selfishness, she admits.
"I think it's a win-win for everyone," Tamm says. By maintaining ownership of 51% of the company, Tamm and Rankin will preserve a hands-on role in major decisions for years to come. "Succession planning is the only way this company is going to live on," Tamm says.
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