VN Power Solutions
Smart50 rank: 10
Revenue: $3.89 million
Growth: 91.02%
Founders: Lui Venturini, 38; Cameron Newman, 33
Based: Victoria
Employees: 34
Industry: Construction
Website: www.vnpower.com.au
In 2003, Lui Venturini and Cameron Newman started VN Power Solutions to address the shortage of professional trade services. At the time it was a cottage industry with individuals touting for business and in desperate need of a professional overhaul.
The company diversified into an electrical, air conditioning and plumbing installation company, with a lifetime guarantee and customer service departments backing up each department. It now offers all trade services in the domestic and commercial sectors.
The company, which ranked 19th in last year’s SmartCompany awards with revenue of $1.9 million, now has $3.89 million revenue and 34 staff.
Managing cash flow has been a key challenge. “Finding the money to grow the business and keeping an eye on costs and the figures has been helped by taking on a full time accountant,” Venturini says.
The company had a near-death experience after employing inexperienced and lowly paid workers and expecting more than they were capable of delivering without training.
The company, which started in regional Victoria, has now expanded across Melbourne and plans to open an office in the Melbourne CBD. Revenue is expected to reach $5 million in 2008-09.
