At 54 years of age, Richard Nadeau was laid off in 2012 from Publisher Douglas & McIntyre where he worked as an employee. He was contacted by Chris Labonte, a contract worker with D&M, and they decided to reinvent the business under Figure.1.
Turning Experience into Business
Richard took his twenty-five years of book industry experience in Canada and the United States, including ten years at D&M Publishers as Sales Director, to co-found Figure.1 Publishing with Chris Labonte and another employee from D&M. While Richard was still an employee at D&M, the business had started developing an imprint to produce books for galleries and restaurants. Richard and his co-founders decided to use the business model to build Figure.1 and haven’t looked back on their decision. Figure.1 has successfully filled a void for high-quality illustrated books.
Turning a negative into a positive
Even though a partnership agreement was put in place to ensure a smooth operation, Richard and Chris found the work load was too much for them to handle without any employees other than themselves. Employees were hired but there was still another other major challenge – marketing. Realizing they couldn’t do it themselves they reached out to contacts they had made over the years who were more than happy to help.
When they first started the business, they had a goal of publishing a total of 45 books in 3 years. They, however, have already surpassed that goal with 60 books having been published in three years. The business continued to grow, and they currently have eight employees with a current revenue of $1.5 million.
More Information on Figure.1 is available on their website.