Point of no return

Next Steps

Thursday, October 1st, 2009

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Profit Magazine did an exclusive feature on how Razor Suleman turned a struggling business into an award-winning growth company with venture capital.

What they said about us:

That dark evening in November 2005 marked an emotional low point for Suleman, a lifelong entrepreneur who had founded his first promotions firm in his dorm room at Wilfrid Laurier University in 1995 — and guided it to PROFIT’s list of Canada’s Fastest-Growing Companies by 2000. Five years later, he was ready to pack it in.

Today, however, Suleman’s company, I Love Rewards Ltd., is a $12-million-a-year success story. Suleman’s software-as-a-service offerings have become the toast of corporate Canada, and now that his company is cash-flow positive, venture capitalists are lining up to get rejected by him. The firm is also lauded as one of Canada’s best workplaces.

“It’s sort of a point of no return,” says Suleman, an energetic 35-year-old who paces as he talks. “Once you set out on that [venture capital] road, it’s really, really difficult to go back.” But Suleman decided that a well-funded U.S. invasion is ILR’s best chance to reach its full potential, and he’s willing to gamble that he’s the best person to lead the charge. “Lone wolves,” he says, “build small companies.”

Click on the link to read the full article, “Point of no return.”