Lifetime Achievement

Age: 79
Company: Schwartz and Co. Ltd., Sydney, N.S.
Business: Retail & Telecommunications
2008 EOY Category: Lifetime Achievement

Being born in 1929 takes on an extra significance these days, as it was the last time financial markets saw such losses. Approaching the age of 80, Irving Schwartz estimates he’s been involved with around three-dozen businesses, half of which he claims to still operate. Born in the coal mining town of New Waterford, N.S., he got his first job cleaning out horse barns, with the effect that no one wanted to sit beside him in school.

By age 12 he was in charge of heating the local movie theatre, getting paid in free admissions and helping with his popularity. Seven eventful decades later, he’s been granted numerous honourary degrees and business excellence awards, and has been inducted into the Order of Canada, which he calls his proudest achievement. An elder statesmen of business, a technology pioneer, and an angel investor in his own right, Irving Schwartz possesses more fire for business than most people half his age. And he still loves to talk about it.

Entrepreneurial style: Ethics is important in anything I do.
Biggest triumph: Seaside Cable [Cape Breton’s first cable company, formed in 1980]. I started with 20 investors from New Waterford and Glace Bay. They were teachers, doctors, miners—people from all walks of life. Eventually I bought them out and ran the company up to today. We recently won a contract to supply Internet to all of rural eastern Nova Scotia, probably the single biggest deal I ever made. I compare it to the time when the rural areas got electricity. It’s just as important.
Biggest challenge: Because the steel plant and the coal mines were here, it was difficult for local people starting businesses. We never developed an entrepreneurial culture on the island. Now that heavy industries are gone, that has changed.
Biggest advantage: We have a software company that’s doing business in Bermuda and Gibraltar, we recently got a contract in Ontario, and are bidding on another contract in Winnipeg. We can operate from here and do business anywhere.
On relationships: You can have a great business idea and a poor partner and you can get into trouble. On the other hand you can have a great partner but a lousy business idea and that will get you in trouble. You have to trust your instincts. After all these years I’ve come to the conclusion that you have to learn about that partner as much as you learn about the ‘numbers’ on the business. I’ve had many mentors too—people I can talk to, get advice from, information. Jim Gogan, the former president of Sobey’s; Bill Blondell, former president of Canadian General Electric; my mother, Rose; even my own accountant, George Unsworth.
The journey: I still look at all this as a learning experience. I’ve never graduated from “the school of business” or ever thought I knew it all. I’m just as cautious and inquisitive today as I was when I started. People treat me differently than they used to, but the basic “me” has not changed one bit. The respect I have for fellow entrepreneurs, or just the ordinary guy, hasn’t changed. And I can still make as big a mistake today as I did years ago.
On role models: My work ethic I learned from my mother. I remember her going to work at 7:30 in the morning and coming home at 7:30 at night. And on Saturday nights the store [Schwartz & Co., clothing store] was open until 10 p.m. in New Waterford. [His mother took over the store when Irving’s father died in 1932 and raised six children at the same time.] It was like a “guilt sandwich”—you knew you had to perform because she was putting all this effort into you. I also learned of the many kindnesses she showed to people that came to her with problems. You can’t inherit brains, but the first lesson is that whatever you do is going to take a lot of effort.
Biggest strength: My ability to make friends with people and get to know them. Another is my great desire to succeed—not necessarily financially, but to create things and make things happen. My hobby is coming to work, meeting customers, walking around. I still handle the odd complaint. I can’t imagine not doing it.
On the Order of Canada: From the day my mother arrived in Halifax and kissed the ground, she thanked her father every day for the rest of her life for bringing her to Canada. To think that the second generation would be honoured with the Order of Canada for giving back to the country was a great emotional experience for me.
Advice for aspiring entrepreneurs: First, it’s not a 9 to 5 job. Second, look down the road a little and shore up finances. Get a plan B, C, and D in place to make sure you have enough capital. Third, pick the right people to help you. And finally, I’d say look after your reputation. Never get into a situation where people can’t trust you. If you make a mistake, admit it and move on.
On giving back: The Canadian International Demining Corporation (CIDC) works all over the world. We started about 11 years ago and work in 22 countries. Today we have 50 people working in Bosnia lifting unexploded landmines out of the ground. Even though this venture has been financially draining, it’s been emotionally rewarding for me. I used to think I missed out on several opportunities to help others. I was too young to enlist in World War II, and I came to think of unexploded mines as a scourge around the world. And I said if the opportunity ever came up to do something about it, I would. An ex-soldier came to me with the idea that he’d like to do de-mining. Little did he know that my mind had already been made up. Within 15 minutes I’d made a deal to go ahead.

For more profiles on our other Entrepreneur's of the Year please following the links below

Click here for George Armoyan
Click here for Wadih Fares
Click here for Curtis Howe
Click here for Bill Sanford
Click here for Harvey Stewart
Click here for Greg Roberts