69. Building a 12-Time Fastest Growing Company with Irfan Rajabali

In this podcast episode, Dwayne interviews Irfan Rajabali, from EB Box Company, about his journey from a corporate role to leading a family-owned business that became one of Canada's fastest-growing companies for 12 years in a row without a traditional sales team or a modern website. The discussion delves into key aspects of entrepreneurship, such as identifying market gaps, providing additional value, focusing on customer needs, and building scalable processes and teams. Rajabali shares insightful strategies for managing crises, emphasizing consistency, and continuously investing in technology and people to sustain growth. This episode offers an in-depth look at practical steps and mindset shifts necessary for business success, providing invaluable lessons for aspiring entrepreneurs and business owners.

Time Stamps:

00:00 Introduction

01:32 Meet Irfan Rajabali

02:26 Journey into the Family Business

05:13 Navigating the 2008 Financial Crisis

05:55 Focusing on the Food Sector

06:32 Delivering Value to Clients

09:37 Early Challenges and Consistency

16:50 Evaluating Risk and Reward

21:55 The Importance of Industry Size and Scalability

30:31 Organic Growth and Client Relationships

38:16 The Importance of Quality and Technology in Business

38:57 Unpacking the Success of a Sales-less Company

40:00 Transitioning to the Food Packaging Industry

41:15 Understanding Customer Needs and Optimizing Production

43:08 The Impact of Crisis on Business Strategy

44:45 Building a Customer-Centric Business Model

45:47 Scaling the Business: Processes and Teams

56:26 Investing in Technology and Equipment

01:07:51 The Entrepreneurial Journey and Business Philosophy

Key Takeaways

• The importance of identifying market gaps and delivering consistent value

• How to transition from a corporate career to running a family business

• Strategies for scaling a business without a traditional sales team

• The power of reinvesting profits for long-term growth

• Building a customer-centric business model in the packaging industry

Strategic Business Growth

Crisis-Driven Decision Making

• Used the 2008 financial crisis as an opportunity to identify market needs
• Recognized that food industry remained stable during economic downturns
• Focused on solving specific customer pain points in food packaging

Value Creation Formula

• Identified and filled gaps in service and delivery
• Maintained 20% spare production capacity to handle urgent customer needs
• Focused on delivering all three elements: price, quality, and service

Customer-Centric Approach

• Built direct relationships with customers as the business owner
• Provided personal cell phone number to ensure immediate response
• Created systems to support consistent service delivery

Scaling Methodology

• Focused on removing internal bottlenecks before external growth
• Invested in technology and equipment that adds customer value
• Built robust processes before expanding customer base

Notable Quotes

"Ultimately entrepreneurship, at least in my journey, was about showing up, about having some consistency, about understanding that problem and the values that existed."

"The box in and of itself is somewhat of a commodity. It was about delivering that value that allowed them to accept orders, to allow them to react to changes in the market that allowed them to grow."

"Being an entrepreneur is probably the most expensive MBA he could have paid for."

"I remember telling my wife, I'm going to close my eyes, put my head down and work at this till I'm 40."

"If