Three time competitor Tait Labs received some great media coverage earlier this month in the Financial Post newspaper.
Tait Labs President Andrew Tait is profiled by Denise Deveau in an article titled Business strategies: Staying on top of finances is in the details.
Andrew Tait’s story is pretty typical of a startup. The founder of Tait Labs in Vancouver started his company three years ago fresh out of university with a goal to develop natural ingredient products for brain health.
It started off basically as a glorified science project,” he says.
While he admits to having some background in sales and business, time was not on his side when it came to finances. “When I took over a small office I had no viable business plan. But you have to know how you plan to raise money and what to do with the proceeds. Every penny needs to be accounted for.”
He decided some help was in order. “I didn’t have any difficulty with the basic concepts of finances. My first part-time job when I was in Montreal was filing tax returns for an accountant. I just wanted to focus on other things.”
Tait Labs was a competitor in 2011, 2013, and 2014.