20. RamCity
Annex Products is the business behind the popular Quad Lock, a product that enables people to have their smartphone within reach while running, driving or cycling.
Revenue: $4.25 million
Growth: 218.97%
Founders: Rod Bland, 44
Head office: Sydney
Year founded: 2003
Employees: 5
Industry: Retail and consumer products
Website: ramcity.com.au
RamCity was founded in 2003 with the aim of making it easier for Australians to upgrade their computer’s RAM and storage capacity.
The business has annual revenue of more than $4.25 million and has grown by 219% in the past three years.
This places the business at number 20 on this year’s Smart50.
Founder Rod Bland told SmartCompany he always wanted to run his own business and realised computer memory was a valuable niche.
“The most challenging part was getting the business off the ground,” Bland says.
“I was working full-time at another job whilst working on the new business at nights and weekends. I made a gazillion mistakes with the website, wasted money on ineffective marketing and advertising, chose suppliers that couldn’t provide a product or service that was not up to our high standards.
“I always say to people I’ve learned more ways to fail than most, but at the same time have always kept on trying to improve the business, so the mistakes were valuable lessons.”
As for his advice to other budding business owners, Bland says it’s all about trying new things.
“Discard quickly what doesn’t work,” he says.
“Be mindful of cash flow and make sure your customers are paying on time.”
Bland also points out that you don’t need to be a workaholic in order to be successful in business.
“I try to keep my life balanced between work, the kids, exercise, friends and personal life, so I sleep well at night,” he says.
“I generally don’t do any work after 5.30pm.”
