In the News – Vik Palan was recently asked by Andrea Wahbe at Telus to share his tips with new entrepreneurs on starting a business. Vik’s advice, “Focus on adding one ‘0’ at a time. Most billion dollar companies had no idea how big they could get when they were a startup. Follow a simple logic – create value in your product and know the value of what you have created. Also, set short-term goals to achieve your long-term vision”.
Vik Palan is President of iToolPro Systems Inc. and CompareMyRates. Vik is no stranger to entrepreneurship, his father is a real estate developer and his grandfather owned an insurance firm. Although he benefits from this rich resource of experience, it took him many years of hard work, sacrifice and a lot of lessons learned along the way; plus Vik has developed a great talent for technology, design, and finance. Vik understands his audience and the Canadian consumer; which makes him successful in sales and the social media aspect. Vik began with iToolPro.com, a professional website design and development firm that builds and designs custom web and mobile applications. Many of iTool’s clients were in the financial and telecommunications industries, so this was how CompareMyRates was first developed. CompareMyRates.ca is a rate comparison website that was created intuitively through Vik’s tech savvy ability and creative design to provide a user-friendly vehicle for the consumer to save money; and for providers to connect to their target market.
Telus is the second largest telecommunications company in Canada that delivers innovative telecom solutions to Canadians. Telus offers a wide range of communications products and services including wireless, data, Internet protocol (IP), voice, television, entertainment and video, and is Canada’s largest healthcare IT provider.