“A
dream is an inspiration, it is happiness…it is hope. It is the reason you get up when you get pushed down…a reason to
go beyond all reason. Little dreamers
don’t understand what drives big dreamers.
Set no limits, take the first step, go the distance…and beyond.”
Dreams are the gift of tomorrow for those who dare.
Brenden’s thoughts on Dreams
(from what he
has read and experienced)
This case study is written
by Robert Sangemino and Jacqueline Wrightsell.
It has been prepared for class discussion at the University level,
specifically for those students with a business background. The concepts examined include:
Strategic/Tactical decisions, The Entrepreneur as an individual, and Stage of
Development. The analytic level of difficulty
is categorized as most difficult, the conceptual level as more difficult, and
the presentation level as more difficult.
An instructor’s manual accompanies the case to aid in class discussion
and clarification of concepts.
The story of Ottawa area man Brenden Keon is much more than a simple business case study. Rather, Brenden’s is the story of a lifelong dream, a dream so tightly woven into the fabric of his life that it is inexorably linked to each and every choice he has made, personal or professional, over the course of his life. It is this element of passion for his dream that will be a constant theme throughout this case study and will ultimately play a large part in Brenden’s decision about the direction his life should take.
Brenden is 23 and is currently living in Germany, pursuing his life’s passion: Horses. For as long as he can remember, horses have been an integral part of Brenden’s life. He has been riding since he was 11, seriously competing since he was 15, and training horses since he was 19. He is currently working for a German institution developing horses while maintaining a modest, but profitable, clientele of his own as a sideline.
This case study will cover Brenden’s life up until May 2000. It is at this point that Brenden reaches a crossroads on his career path and is forced to examine the career alternatives available to him, weighing them against his personal and professional goals in order to determine the best course to pursue.
Brenden is faced with the option of either starting his own horse training business or continuing to train horses on behalf of his current employer, maintaining his few personal clients on his own time. Furthermore, Brenden has begun to contemplate seriously pursuing his lifelong dream of competing in the Olympics and must consider the implications such a decision would have on his career as well as the impact his career choices would have on his attaining this ultimate goal.
Viewed as one of the oldest and most prestigious sports in the World, many see show jumping as a sport reserved for the wealthy, hailing it “The Sport of Kings”. Historically this may have been true however this elite sport is becoming increasingly accessible to all social stratas. In Canada, 30% or the population are horse owners. Interestingly, the newest and largest segment of this market is comprised of professional females aged 35-45 with average household incomes of $70,000 per year.
Opportunities in the industry are not limited to competition and horse ownership, but rather include an array of unique career and investment options ranging from suppliers of hay, grains, etc. to professional trainers and sponsors.
While popular and closely followed in both North America and Europe, Equestrian activities are considered much more prestigious in European circles. In Europe, competitors are given almost movie star status, frequently recognized outside of competition by both avid and casual followers of the sport.
In Canada, the fame of competitors is most often reserved for those who closely follow the sport. Still, with the recent rise in popularity, this might change to more closely reflect the situation in Europe.
In North America, participation in the sport requires considerable economic investment, while in Europe, competition is more avidly followed and competitors are paid for their efforts.
Growth
in recent years in the popularity and economic contribution of the sport are
great indicators of the business opportunities to be exploited. This industry alone contributes upwards of
$4 billion annually to the Canadian economy, a number that is growing
continually.
The
Jill Henselwoods and Ian Millars of the industry are icons to aspiring
competitors. Still, this path to
“greatness” was by no means an easy one.
Serious competition in this industry requires an intense monetary
investment. Early on in a competitor’s
career, this money must come from the competitor him/herself or, in most cases,
the competitor’s family. Later, once a
competitor has proven his/her potential in the riding community, there is the
option of seeking sponsorship to cover the costs associated with training and competition
(SEE APPENDIX C – Sponsorship request). Still, competition is fierce for this
sponsorship and it often comes down to how well connected you are in the riding
sub-culture.
Typically, the “greats” of the riding world go through the initial personal investment and sponsorship phases and move on to the ownership and operation of their own stables. For most, remaining close to the riding community throughout their competitive years is extremely important when it comes to seeking sponsorship or funding for business endeavors. The ultimate goal of serious competitors, Olympic level competition, depends almost as much on reputation and contacts in the industry as on the rider’s skill.
Brenden’s accomplishments and experiences to date have by no means been what you would consider insignificant or ordinary. Brenden is and always has been an extraordinarily motivated, innovative and driven individual with an innate aptitude for and interest in entrepreneurial endeavors. Brenden is forever seeking the hidden potential in any opportunity that crosses his path, and thinking up innovative ways to capitalize upon that opportunity. Moreover, Brenden’s entrepreneurial spirit does not stop with the generation of an idea, but rather is carried out in practice. In fact, a number of Brenden’s business ideas have become a reality over the course of his life, all of which have helped him to learn and grow as an entrepreneur, enabling him to put into practice that which his experience has taught him.
Brenden was born in Ottawa on July 17, 1977. Ironically, it is said that people born on this day are destined to be driven towards, and most often attain, success in whatever they set out to do. It is also said that individuals who invest in these individuals will be handsomely rewarded. Perhaps the astrologers are correct, and Brenden’s entrepreneurial future was “written in the stars”. It was at a very young age that Brenden was introduced to what would end up being the overriding passion in his life: Horses. It is this passion that has provided direction to Brenden’s entrepreneurial spirit, influencing most, if not all of his personal and career choices throughout his life.
At age 10, Brenden Keon shared the dream of many boys his age: Hockey greatness. When an asthma attack kept him from making a competitive team in a summer league, Brenden was extremely disappointed and frustrated. In an effort to blow off some steam, Brenden took his bike out for a ride. He came upon a nearby farm, offering a summer camp for kids. Brenden returned home and informed his mother that if he couldn’t play hockey, he would go to summer camp where he could swim, draw and RIDE HORSES. This opportunity born out of adversity marked the beginning of Brenden’s enduring passion for horses.
After watching a documentary on the annual wild pony roundup and auction on the island of Chincoteague, a then 11-year-old Brenden (with his new found passion for horses) mentioned to his mother that he would like to have a pen pal from this island off the coast of Virginia. He looked to his teacher for help in establishing a contact through an area school. Unfortunately, Brenden’s teacher came up empty-handed. Brenden was not deterred by this minor setback, as most 11 year olds would have been. Instead, he decided to take it to the next level and wrote a letter to the US Federal Trade Commission requesting that his enclosed note be forwarded to a school on Chincoteague. Within a short time, he received a response from a boy named Brian, with whom he subsequently corresponded for a year.
But the story did not end there. The following summer the Keon family found themselves returning from a “visit” to Chincoteague with a genuine Asateague Island wild pony in tow.
Even at this early age Brenden had already begun to exhibit some of those characteristics typically associated with entrepreneurs, namely the ability to think outside the box, the use of the “smart truth”, perseverance and determination.
At age 15, Brenden began to compete seriously at Juniper Farms in the “A” Circuit. This would mark his progression from a recreational rider to a competitor in the sport. The “A” circuit is the first step that an athlete must take in order to proceed along the path towards national level competition. Moving up the ranks and winning various divisional titles, Brenden began to establish his name within the riding community.
After having spent four years developing his skills under the tutelage of well-known Canadian equestrian Jill Henslewood, a 19-year-old Brenden decided that he was ready to take it to the next level. After detailed discussion with both his parents, as well as Top Canadian and World Champion equestrian Ian Millar, it was decided that Brenden would spend the summer at Millarbrook farms training under Millar himself. Thus began the mentor-protégé relationship that still exists between the two horsemen. Ian has been and continues to be one of the single most influential people in Brenden’s life and riding career.
At age 20, as Brenden embarked upon his second year of a Commerce degree at the University of Ottawa, he began working as a trainer for Lower Saxony farms. This was a pivotal move for Brenden. Although he had been given training opportunities at Millarbrook, this was Brenden's first independent venture into the horse development side of the sport.
Shortly thereafter he was given the opportunity to spend some time in Belgium where he was exposed to the European riding community. Brenden found the industry in Europe not only more developed, but also much more centred on the horse. He also found that a large majority of the world’s elite within the sport based themselves out of Europe. Brenden is a firm believer that to become the best one must surround themselves with the best. With this in mind, he promised himself to one day return.
Upon returning to his job at Lower Saxony, Brenden became increasingly frustrated with the rigidity of the owners, who would not afford him sufficient autonomy to develop the horses as he saw fit. Brenden had begun to formulate his own vision, a vision that was incompatible with that of his employers. In reaction to this dissonance, Brenden decided to ally himself with a new facility.
It was in his 3rd year at the University of Ottawa that Brenden began working as a trainer for Ashland Farms. Shortly thereafter, a contact of Brenden’s in the riding community offered him the opportunity to spend some time in Holland working for a horse training facility belonging to one of his friends. After two months, Brenden concluded that this was not the place for him. The atmosphere of conflict in which he was working became unbearable, and ultimately spurred him to leave the Dutch facility with no money, no place to go, and no plan of action.
Instead of returning home to the security of his family and his job, Brenden remembered a friend who lived in nearby Belgium and decided to give her a call. She took him in and mentioned to him that the Pesoas, members of the Brazilian National Equestrian Team, were based nearby. Brenden saw this as an opportunity to gain further experience, and made a point of introducing himself to the famed brothers. He offered the Pesoas his help in any capacity, free of charge. The months spent with the brothers proved to be a pivotal point in Brenden’s career. He worked like a demon, meanwhile learning everything he possibly could about riding and training from his new mentors.
Upon Brenden’s subsequent return to Canada, he went back to his position training horses at Ashland Farms. Just as he had at Lower Saxony, he began to feel constrained in his position. Once again, he found his vision to be out of line with that of his employer.
In an effort to spread his entrepreneurial wings, Brenden posted an ad to a website, advertising his horse training services. The Mendozas of the Dominican Republic were the only respondents to this obscure ad. Ironically, this proved to be arguably the most pivotal point in his career. The Mendozas are affluent horse owners and Mrs. Mendoza rides competitively. They entrusted Brenden with one of their most promising stallions to develop and ride for competition. His work greatly impressed them, and so began a profitable business relationship with the Mendozas and the opening of Brenden Keon stables out of Ashland Farms.
With the Mendozas as his business mainstay, Brenden began steadily building a client list, generating revenues by offering the following services to his clientele:
· Horse boarding
· Horse training and development
· Participation in competitions for development/resale purposes and prize money
· Training clinics
· Leasing of horses to developing riders
· Development of new riders (lessons etc…)
Brenden’s stables operated in a
niche market between businesses offering low cost boarding and lessons, with
little or no additional training services, and expensive high end training
operations of national and international caliber. Brenden’s plan was to take advantage of the growth in the
equestrian industry attributed to the new “accessibility” of the sport. In other words, Brenden planned on catering
to the middle income horse owners who could not afford high-end training, but
still wanted to develop their animals to their optimum potential. His business plan examined the feasibility
of the endeavor, complete with industry strengths and weaknesses, as well as
5-year financial forecasts (SEE APPENDIX A)
Brenden’s original business plan evolved into an idea for a related endeavor. Brenden explored the possibility of horse ownership for the purpose of development and resale. His plan consisted of purchasing horses demonstrating great ability and potential in the 4-6 and 8-10 year age ranges, developing these through training and competition, then selling them for a profit (or keeping and competing with those showing Olympic or World Cup potential and getting even greater returns). (SEE APPENDIX B)
These plans were put aside when, shortly thereafter, Brenden met up with a fellow, more experienced, rider and trainer by the name of Allan. Allan suggested that they both go to Florida for the winter circuit and then move on to Germany where he had a contact willing to take Brenden on as an employee. Immediately following the Florida circuit, Brenden left for Germany, where he began working for the small-scale facility with which he is now employed.
While a big decision in and of itself, the move to Germany was all the more shocking to friends and family as it meant that Brenden would not be completing the final year of his commerce degree. Brenden believed and continues to believe that success has much more to do with one’s natural abilities, experience and drive than that which can be learned in school. This move was his way of proving just that.
It is now May 2000 and Brenden is currently living and
working in Germany for a small-scale horse development facility while
maintaining a modest clientele of his own.
While he is content with his private clientele and the security afforded
by his position working for the German facility, Brenden wonders what having
his own business would mean for his career, not only economically, but also in
terms of his reputation in the riding community.
He has built a solid reputation as a trainer and equestrian
while in Germany, but suspects he would gain further prestige and credibility
if he were to go out on his own.
Furthermore, he is confident that he could be successful running his own
facility as he has the guaranteed business of his two personal clients upon
which he could build his business.
This endeavor would help Brenden build his network of
contacts, many of whom might prove valuable allies in the accomplishment of his
future objectives, namely the 2003 Pan Am Games and the 2004 Olympics (both of
which would require sponsorship support)
As for the feasibility of the idea, Brenden has experience
running a similar business out of Canada, he has 3 yrs of a 4 yr Commerce
degree under his belt, and he is functionally skilled as both a rider and a
trainer.
Some of his concerns include:
Brenden is faced with a big decision. He can go out on his own with his current 2 clients, one of which is the Mendozas who have provided him with a number of horses as well as plenty of encouragement since their first meeting. He also has the option of leaving things as they are, and continuing to train at the German horse facility with his private clientele as a sideline. Added to the complexity of his decision, Brenden must look at his dream of Olympic competition and consider what path would bring him to this ultimate objective.
Should Brenden start his own business?
What other alternatives does he have?
What factors need to be considered?
European Vs
Canadian Equestrian communities_
Brenden
Keon: An Entrepreneur is Born
Prepared by Robert Sangemino
and Jacqueline Wrightsell
For Bruce Firestone and John
Callahan
Entrepreneurialist Culture 42.491