Meet our Wolves’ Den Competitors: Derek Kernan

Posted on Tuesday, March 22nd, 2016

Derek Kernan

From a young age, Derek Kernan learned the value of hard work and was personally influenced by several entrepreneurs. After working in the concrete trade for 10 years, in February Derek officially launched Capital Concrete Finishing, a company that offers modern custom concrete finishes for walkways, patios, driveways, and more.

Derek is participating in this week’s Wolves’ Den – Algonquin College’s very own Dragon’s Den – for a shot at legal help, seed money, and a mentorship opportunity. Will the Wolves think Derek’s concrete business is a solid investment, or will they find a crack? Let’s learn more about contestant Derek!

Can you summarize what Capital Concrete Finishing is all about?

Capital Concrete Finishing is about custom concrete finishing. More specifically, decorative finishing. We do finishes like stamped and exposed concrete and high density polished floors.

There is a bit of a gap in the concrete finishing market. It’s a big investment to get started in this business, and some companies don’t believe in it or don’t want to take that risk. However, we believe it’s a great product that is worth the investment. I’m a firm believer in what we do.

I understand you’re a mature student. What did you study at Algonquin College and how have your additional years of experience informed your entrepreneurial journey?

I started out at another college, but after reviewing Algonquin’s Business Management and Entrepreneurship program, I decided to transfer. I find that the College’s classes are a lot more directed toward starting a company. The courses really assist you in getting you going. I’m finding them very useful, so I’m definitely looking forward to finishing the program. I like what the College has to offer.

As for my additional years of experience, I have been involved with the trade for a long time. It was working for seven years at another company that made me want to start my own business. Because of this experience, I was more confident in my skills to start my own company.

Besides your studies, has the College’s community helped you out in any way?

There are definitely some teachers here that I would love to keep as mentors. Chris Castillo was one of those great teachers, as is Chris Doré, who is my mentor for the Wolves’ Den.

Had the idea behind Capital Concrete Finishing been gestating for a while, or can you pinpoint the moment you wanted to start your own business?

It had been an idea of mine for a while. I have always looked up to my grandfather because he started his own business and had been very successful. Like me, he was a believer in doing what you love.

I joined the concrete trade after high school and that’s where I developed a passion for it. I had been with a family company for seven years, and wanted to start a new division within it. I showed them what I could bring to the table, but they weren’t interested. I continued working on my idea for about a year before I decided to pursue my own finishing company.

I believe in doing what you are passionate about, and this is a trade I love.

Now that we know why you became an entrepreneur, why have you stayed one?

I like the idea of being my own boss. I’m still open-minded, but I’ve been in the trade long enough to know what works.

Ultimately, I’m all about doing quality work. The reputation of my business is important to me. The trade has so much more potential than it’s known for. That’s a problem I want to address: that demand for concrete finishing would be higher if more people knew about it. Having my own business means I can devote enough time to advertising to solve this.

There are also aspects of the trade I want to explore further down the road. There are new techniques and products I can work on if I have the control to do so.

The skills to become a successful entrepreneur are quite varied. What do you think are the most valuable?

Self-discipline and being hardworking are good traits. Your work is going to consume your life, and you’ll be working on it day in and day out. You’ll have to make sacrifices for it. You certainly learn from your mistakes, but you also have to make smart decisions.

Another important skill is being able to manage your finances. A major reason I wanted to take these courses at Algonquin College was so that I could learn these skills and practice them.

Finally, you also have to be open-minded. Try new things in new ways. In this trade particularly, things are constantly changing. You always need to be reading and educating yourself on what’s out there. I was also open-minded about going back to school, and it’s a decision I do not regret at all despite being told it was a waste of time. For the experiences and connections Algonquin provides, it’s 100% worth it. It’s important to know that you can always improve.

Good luck to Derek and all our Wolves’ Den competitors! Join us March 23 at 11 a.m. in the AC Hub to cheer them on!


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