On February 29, 2008 Burnaby’s Jack Gin realized a dream to which many entrepreneurs aspire. On that day, he closed a major chapter of the extremely successful technology company he founded 11 years ago.

With the sale of Extreme CCTV to German giant Robert Bosch GmbH, Gin executed the exit strategy he envisioned when he and his wife, Sylvia, used their home to secure a $250,000 line of credit to start the company.

In those 11 years Gin has traveled the complete entrepreneurial road, guiding the company from two to 150 employees, from zero to $42 million in annual revenues, becoming a publicly traded company and acquiring two other firms along his journey.

Bosch, a privately held German technology company based in Stuttgart, discovered a gem in Burnaby-based Extreme CCTV (a world leader in security cameras that can operate under extreme conditions like low light, high shock and low temperatures) and acquired all of the issued and outstanding shares for $93 million.

In this interview with Make It Business, Gin talks about his journey, his philosophy and his future plans.

What prompted you to sell the company you started at this point?

I should emphasize first that Extreme was a publicly listed company, with shares traded daily as a company that is of course subject to being acquired at any time. Our board of directors were advised by me, as the President and CEO, that Extreme was of acquisition interest to large companies, and this was a matter of fact that warranted consideration by a committee of independent directors.

My job was to continue to grow the company through organic business development and through possible acquisitions of our own.

But in my personal opinion, I felt that it was time. The company had reached the right time in its maturity to consider being acquired as both an opportunity for a shareholder liquidity event and to get scale for further growth of its product line and its great team of employees within a larger organization.

There were also many other considerations that weighed on us. The company had reached another “platform of success” from which it could launch to new levels. But this time, it was about going big … from its $40-plus million towards $100 million in annual revenues. Our management team got together to chart out that plan. And with every big plan, there are risks to consider.

Were there external issues that factored in on your decision?

Some external forces included the increasing cost and demands of operating as a public company, and the huge swing in both the US and UK currencies that affected both our top and bottom lines.

When the opportunity to engage with Bosch came up through our investment banker, I was very much intrigued with the prospect of merging our company into one of the best run privately-held companies in the world. While our staff were and remain excited with the business of Extreme CCTV, our mandate remains “extreme” and I expect to see growth at all of our existing operations.

Taking care of my staff through the continued health and growth of our company was a primary issue in selling the company. Taking care of the shareholders was of course taken care of with the right share price.

Are you maintaining your position as president and CEO?

Yes, I remain the president and CEO, but Extreme is already strong on leadership with two managing directors who are responsible for our operations on two continents. Bosch have expressed an interest in keeping me on. It’s up to both parties. Are there other things I want to do outside of work? The answer is yes … I do have a life to catch up on outside of Extreme. But I also want to see the continued success of our Extreme people, and if I am needed, I will continue. I’m between a good place and a good place.

When you started Extreme CCTV, did you have an “Aha” moment for the the business?

Did I have a eureka moment?

For the business startup, there was no eureka moment, but rather a devastating setback when the security products division that I had built at a previous company was taken over. I was tossed out and everything that I had built up to 1997 was suddenly at risk.

The bad news was the setback that hurt me tremendously. The good news was the opportunity for me to start again, but this time, on my own without partners. And of course, I knew my market like the back of my hand. And I had a good understanding of the physics that went into surveillance technology.

The setback became the set forward that got Extreme started.

Was Extreme CCTV your first full-fledged business?

Yes, this was my first wholly owned business. Although I was a minority-shareholder in Weatherhaven, I joined them so I could earn a stake in the company. In other previous positions, I was always intrapreneurial. I took companies to places that they might have considered risky. In each, there was a great return both for the company and for me. At Silent Witness, there were some who did not want me to take the company into the security industry.

But it was the right thing to do, and when it became obviously successful, they dropped almost everything else to focus on this new profitable division. I have been fortunate to have gained greater confidence-building experience at every job I have had since graduating from UBC decades ago. I would recommend to others to gain experience first in achieving, effecting, and causing positive changes before embarking on your own entrepreneurial ride.

And you were confident that you could build Extreme CCTV to what it is today?

I was confident that I could market to the world and get a venture up and running. Ten years ago, the focus was on getting cash flow … not on how big we were going to be, so I wasn’t then thinking about what we are now. I should also say that I have always learned a lot in all my gigs. I’m still learning today. I’ve been so blessed with opportunities to learn and achieve things. The act of doing things, gets results. And getting results, nets you confidence. Because I have been so fortunate in my career, I like to see our young staff with the opportunity also to achieve so that they can grow their confidence.

A quote that people will hear at our office is, “if you aren’t learning, you’re not living.”

You wanted to get Extreme CCTV started. To pay for that, you put your house up as collateral in 1997?

Yes, but it started with my visit to a banker to open a line of credit with a personal guarantee. I had the benefit of owning my house and having no debt at all. It was easy for me to accept my banker’s request to include my house as collateral since I only intended to borrow money that I promised to return. A promise is indeed a promise, and if the bond of my word is not good enough, I can put my house on the line.  

How many people were with you at the start?

It was me and my wife. Sylvia was the administrator; I was everything else. We made no income, so we ran lean. She’d seen me succeed at other companies, so she was confident that I could build this company. She said she would give me five years to help at the startup. We hired when we could afford to and built this company “one more employee” at a time.

Some people would see what you did as huge risk. You had young children at the time of the startup; you were putting your family on the line.

Family time was indeed on the line but we did not sacrifice taking care of our children. Everything else was sacrificed. There is personal cost in starting up your venture. We lost contact with friends as there just wasn’t any time outside of the business and children. My kids have grown up with a dad who went to work every day, often for weeks at a time, but they always knew I was committed to them as a father, which is the most important role for any father.

When you started the company what kind of hours were you putting in?

More hours than were humanly possible. I can say that now because I was indeed maniacal in my commitment to making it work. And we had great success from the get go. Our first quarter saw a modest $12,000 in sales that was followed by three consecutive 100 percent growth quarters. We were hitting $250,000 quarters in our second year.

How many hours were you putting in on February 29?

I’d get in sometime after nine and leave sometime after seven. But my day doesn’t end after the office. I have a Blackberry and am on high-speed at home. With Extreme employees working in Asia and the United Kingdom, I can still work around the clock. But the company is now in the position where it has been running on its own without me. Thanks to the quality of our people, I’m very grateful for how well our company operates. The quantity and quality of the products that we produce every day are amazing to me. Our reputation for technical performance and our level of quality are what keeps bringing customers back for the most important surveillance projects in the world.

From the moment when you wrote down your plan on the back of a napkin, as entrepreneurs tend to do, was it your intention to take the company public as opposed to keeping it private?

It was blind ambition. We said we’d do it, so we did it.

From a purely financial aspect, why would you choose to be public as opposed to staying privately held?

If we had stayed private, I thought we would have had to raise some money, perhaps get some venture capital. I would have had to have a financial partner. I didn’t want to see that happening. At that time in my life, I didn’t want a partner.

You wanted more control of the company?

Yes, but control was not the issue for me. Getting things done without politics and impediments was the issue. As for venture capitalists, I did not have time to consider them during our start up. Plus, there weren’t any investment angels knocking on my door with a bucket of money for me. 

Our mission was to go public so that everyone could become shareholders, so that all employees could have stock options.

Does what you’ve achieved in the sale of Extreme CCTV resemble the idea that you had in 1997 when you came up with this idea, when you signed for your house?

I think you are alluding to fortune and money. We went into business so we could build a successful livelihood without it being at risk of being taken away. I find too many business publications writing about the lifestyles of the rich and famous as if that should be your goal in life. A successful life is not necessarily about being wealthy. Life itself is an experience. We’re all taught lessons in life for reasons beyond our understanding, at least for us to comprehend. I’ve learned a lot of hard lessons, experienced so many fantastic events and met great people all over the world, and I feel so much richer because of the ride, the journey of the past 11 years. I’m very grateful for everything, and especially for the people I have been able to work with.

How do the cultures of the two companies fit?

Both companies are very international. Both are technology-oriented. We both dig electro-mechanical engineering talk. And while Bosch is several orders of magnitude larger than Extreme, we are both young in outlook.

While Bosch is over 100 years old, the CCTV security division of Bosch is younger than that of Extreme. Our corporate cultures are not too dissimilar. We both want to innovate in the industry. We both have a great deal of respect for engineering, and we both expect high sales growth. And the official language of the Bosch security division is English. So we will do just fine together.

What’s your family background?

I come from at least three generations of forefathers who were immigrants. It’s something only the Chinese community can understand. The men were allowed entry to work in Canada but their families were not. So I am a descendant of a working-class people who, prior to 1949, weren’t allowed the opportunity to raise families here or attend universities to qualify to work as professionals.

Was your family an entrepreneurial family?

 My father ran a successful business with his brother. He was a grocer for a lot of East Vancouver families in the 1960s and 1970s. It was a different kind of entrepreneurism then. I don’t think the immigrant-entrepreneurial story is the same as mine. The previous generation had it a lot tougher. They didn’t have opportunities and choices like I had. I got to play on an even playing field. They had it tough. Thankfully in this great country of ours, everything has changed for the better

Did working in your family business – a grocery store – give you a business sense?

As a child, I got to see my father’s business grow from a modest single checkout store to a very busy five-checkout “Shop-Easy” supermarket that competed with Safeway as the adjacent competitor.

At an early age, I saw the practice of customer service, reliable delivery, positioning, and differentiation. So yes, there is likely a sense for business that has been pounded into me since I started working at the age of 10. 

I understand that as a part of this entire sales transaction you’ve also made a contribution to the Vancouver Foundation?

Yes, through the Vancouver Foundation, we have made a contribution which I am very excited about.

This city was built on the backs of hardworking people who gave to the community in many ways. The financially successful ones also gave with their money. Names like Van Dusen, Malkin, MacMillan founded the Vancouver Foundation, and I am honoured to be able to contribute to this fantastic organization.

Who is a British Columbian that you admire?

I would include former Lieutenant Governor David Lam. When I was at UBC, he donated millions to the university and he encouraged others like the Chan brothers in their philanthropy – now we have the Chan Centre. David Lam succeeded personally in his business career and after retirement began a new career of public service and giving back to the community. He set a great example for British Columbians.

Most important question: Where do you go for dim sum?

The Imperial on Burrard. Dim sum is a family occasion for me. I like to go there on Sundays. During the week, it is also a good place for a business lunch.