Mr. David Sidoo is a successful businessman and innovative industry leader based in Vancouver, B.C. As a businessman, former professional football athlete, and philanthropist, David Sidoo has shattered the mold at every opportunity throughout his trailblazing career. After Mr. Sidoo retired from his football career, he was introduced to the brokerage business. He went on to become a broker with Yorkton Securities, where he quickly became one of the company’s top revenue generators. He went on to become Partner and Advisory Board Member at Yorkton Securities, consistently generating commissions that ranked in the Top Five nationally. In 1999, he left Yorkton to pursue private investment banking. He became and still is a financier, board member, and founding shareholder of several companies in the Oil & Gas and Mining sectors.
Where did the idea for your career come from?
For social giving, the idea came from when I was young and went to school without breakfast. And lack of proper footwear. I decided one day if I was able I would form a foundation and give back to my community as much as I could with my time and funding to try and transform lives and neighborhoods for others. As I invested in the stock market via friends I knew who were brokers and financiers while I was playing pro football. I noticed a lot of people who I knew were making a lot of money and their lives were changing for the better. So I decided when I finished playing football I would try to become a stockbroker and build my own companies and take them public. I took the team approach in sports to put my investment team together.
What does your typical day look like and how do you make it productive?
Check my emails in the morning and prioritize which ones are important to return asap. Work out . Eat breakfast and make calls and have zoom meetings on various projects I have invested in or am working to raise money for. Have the odd coffee meeting. Wednesday Friday Saturday and Sunday I walk my dog Rocky with my wife and shut things down all morning on those days. You need to make priorities otherwise you will be on emails and calls all day.
How do you bring ideas to life?
Build a model. Look to see if there is a problem and need in a certain sector. Put a team together that has either been involved in the particular areas of interest or has knowledge and contacts that could be leveraged. Build the management team. Raise the seed capital from strategic investors including myself and build the business model to a point where you either get acquired or taken public.
What’s one trend that excites you?
Remediation of the tailing ponds. Tersa environmental Technologies.
What is one habit of yours that makes you more productive as an entrepreneur?
I never quit when I get an idea I like I see it through to the end. I do not waste my time with deals that come to me that I cannot bring value to.
What advice would you give your younger self?
Do more equality deals and not everything everyone introduced to you. Stop trying to please everyone . and do your due diligence on the people who bring you deals better. In venture capital if you have a good reputation you want to keep it.
Tell us something that’s true that almost nobody agrees with you on.
Trump did some good things while he was President.
As an entrepreneur, what is the one thing you do over and over and recommend everyone else do?
Keep true to who you are. I pray a lot over and over and ask god to give me direction. Guide me. So lately I pray a lot and talk to god a lot during the day for work I try to pay attention to detail as much as I can .
What is one strategy that has helped you grow your business?
Work hard and be with like minded people. Don’t surround yourself with “yes” people. Bringing smart talented people that add value builds your organization and leads to more success. I’ve always had that team mentality my entire life. May be the hub of the wheel but without all the spokes the wheels won’t turn.
What is one failure you had as an entrepreneur, and how did you overcome it?
I try to be more patient and tolerant through life’s struggles, where in the past I have not been.
What is one business idea that you’re willing to give away to our readers?
Be passionate about what you want to do in life Don’t be a passenger. Don’t just come and go without making a difference. And be your own person. Don’t listen to negative people and be a follower. Making an impact takes courage and to say no is important. and think differently. Listen to your gut instinct. 9 times out of 10 it’s right. Had I listened to mine I would not have made that mistake. Remember too good deals are hard to get into and easy to get out of and bad deals are easy to get into and hard to get off.
What is the best $100 you recently spent? What and why?
Getting a massage. Took my stress away for an hour and I relaxed.
What is one piece of software or a web service that helps you be productive?
Zoom calls. You don’t need a office and all the overhead associated with having an office. One of the best tech every. Calls are fast and can be just as personal as being there. I am always better with in person meetings rather than conference calls and zoom and google meets makes it lie your there.
What is the one book that you recommend our community should read and why?
Born Again. By Chuck Colson (president Nixon’s right hand person) Its not a religious book . it focuses on some of the deadly sins. When one gets too much power and wealth. Fascinating read about what life is all about. Your faith and family and friends that stand by you. Live for god and all else will follow.
What is your favorite quote?
Sidoo’s never quit. I’ve told my sons that for years now. We laugh about it but it’s true. also, “ to whom much is given much is expected” President Bill Clinton.
- I’m not perfect none of us are. We all just take turns making mistakes. It’s how you respond from your mistakes that defines you.
- Failure is our greatest gift It gives us a chance to grow. You will know who your friends are when you fall. All of us will fall at one point in our lives.
- You need some luck to be successful. Hard work is good and being smart helps a lot.
Carlyn runs the day-to-day publishing operation here at ideamensch and interacts with our awesome customers and entrepreneurs. She is likely editing this with a cat on her lap.