News
Executives of CYRK Inc., a $400 million public promotional products company, told students about the trials and tribulations of starting a new company in a discussion last night at the Amos Tuck School of Business Administration.
The company, which is based in Gloucester, Mass., designs, manufactures and delivers promotional products to companies, according to Gregory Shlopak, the founder, chairman and chief executive.
After showing a short video explaining "What is CYRK," Shlopak went on to describe how he started his own company.
While teaching in the marine biology department of a women's junior college in Pennsylvania, Shlopak said he became interested in investing in a distribution company.
Shlopak said he always had a desire to start his own business.
After facing several successes and set-backs, he started CYRK in 1975 as a screen-printing business that produced t-shirts and other products with brand name logos, he said.
"It was difficult finding a good niche in a new business and being competitive in an easy-entry business such as the screen-printing business," Shlopak said.
The company was struggling at first, but soon developed a good reputation, a fine network and good relations with people in the industry, Shlopak said.
"Success will be determined by your relationships with people in the business," Shlopak said.