Starting Strong
For one distributor, creating his own business was about "doing what I do best."
Many an entrepreneur has thought twice about starting a business in an uncertain economic climate. That was not the case for Sergey Kunin, CEO of IQ Dental Supply (Fairfield, N.J.) Nineteen years ago, when Kunin immigrated to the United States from Russia, he did so for freedom, he says. "I believe starting my own company has also been a freedom of choice." IQ Dental Supply was formally registered in February 2009.
Kunin is adamant that the most successful businesses often are started in a weak economy. "Pfizer was built in a recession," he points out. "When Henry Schein began, there were huge problems in the dental industry." And that’s not always a bad thing, he says. "In unordinary times, people start to think about what they are doing and how they are managing their business." That’s when they’re looking for experts to help them, he adds. "I believe that with my experience, I can do so."
Getting started
Soon after arriving in the United States, Kunin went to work for Becker-Parkin Dental Supply Co., eventually becoming the company’s executive vice president. After Becker Parkin was sold to Henry Schein in 2007, Kunin joined Schein’s corporate team. As much as he appreciated that experience, after two years, he was ready to move on.
"I wanted to do what I do best," says Kunin. And, that was to continue servicing dental practices and specialties. "I had some good connections with customers and manufacturers, and a solid reputation in the industry. But, what especially led me to start my own company was that my customers, vendors and friends were asking me to do this. They said, ‘If not you, who then?’" So, on Feb. 14, 2009, IQ Dental Supply was formally registered in the Tri-State business community, that is, New Jersey, New York and Connecticut.
His company may be only a little over a year old, but few would guess that, he points out. "If anyone walked into my showroom today, they wouldn’t believe we are only a year old," he says. "I have known what I was doing from the start. When I started out at Becker-Parkin, it was a $30 million company. In the end, it was doing $150 million in business. I was heavily involved in this growth, and the experience has helped me grow my own company." Today, IQ Dental Supply primarily covers the Tri-State area, but also reaches out to customers across the country via phone sales.
However, running a business is not only about dollars and cents, Kunin continues. "It’s all about relationships, new ideas and generally helping my customers manage their businesses." And, working with his customers is a two-way street, he notes. "My customers have been very open about their needs, which has given me specific goals to reach. This has made it much easier to start a company."
Another boost to his business has been Kunin’s private label products. "I believe [distributors] must always offer private labels in addition to brand names," he says. "I have a full private label IQ brand, which helps very much in this economy." Kunin points out he that is careful to work with a good vendor to ensure his private label offerings are strong ones. "Probably 30 percent of my sales are private label," he says. "The products are less expensive, yet very good quality."
When he first started out as an independent distributor, Kunin was running on automatic, he admits. "In the beginning, I was just doing what I had to do," he says. "But, to be successful, you need to build a solid customer base, with strong relationships. I believe that means you must always be honest with your customers and vendors." Indeed, his approach appears to be working. "Over the years, I have gained many friends in the industry," he says. "This has been my life." It has become his family as well. "I want my employees to feel like a family. I want [to build] a staff that’s happy and comes to work with a smile."
Then and now
Selling to dentists is much different than it once was, notes Kunin. For one, the demographics have changed. "Today, there are many more Asian and Eastern European dentists with practices in the United States," he points out. This transition has meant distributors have had to adapt their relationships, he points out. And they need to convey this to their employees, he adds. "You must ensure your employees understand different cultures and languages [in order to] work with so many different people."
Beyond that, dentists expect more of their distributors today, he continues. "It’s a much tougher business today, with dentists expecting their sales reps to help them make their practices more successful. I try to become business partners with my customers."
Regardless of how tough the sales climate has become, Kunin foresees good things to come for IQ Dental Supply. "We definitely are going to grow," he says. "We plan to expand our customer base, and I’m always looking to hire more salespeople." That said, this isn’t an easy market to pursue, he warns newcomers. "I’ve talked with dental distributor reps who are trying to start their own company," says Kunin. "Today, you need a strong computer system that can support your business. There are so many details to attend to."
No matter how much oversight running a business calls for, though, at the top of the list should always be developing a great company image, he says. "Your image tells your customers a lot about your company. And, you must always show your customers the [utmost] respect."
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