My Entrepreneurial Life

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I delivered this presentation to The University of Arizona Entrepreneurship Association. I have a blast! v20100914

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My Entrepreneurial Life

  1. 1. My Entrepreneurial Life<br />The University of Arizona<br />Entrepreneurship Student Association <br />
  2. 2. Background/Timeline<br />Born and raised in Spring Hill, Tennessee<br />Family Farm – Tobacco, Cattle and Forage<br />Contract labor for neighboring farms<br />Started Thompson Lawn Care (1993)<br />Started Pro-Seal Asphalt (1995)<br />Columbia State Community College (1996)<br />Middle Tennessee State University (1997)<br />
  3. 3. Background/Timeline (continued)<br />Started ACT! Certified (2000)<br />Started Think Outsource, Inc. (2004)<br />Co-founded Jennex, LLC (2006)<br />The University of Arizona, Eller MBA (2008-10)<br />University of California, Berkley (2009)<br />McGuire Entrepreneurship Program (2010)<br />Co-founded TruckItNow (2010)<br />
  4. 4. Should you get a job or start a company?<br />
  5. 5. What’s riskier: a Job or Entrepreneurship?<br />
  6. 6. If no one else wants it, why would you?<br />My 3rd company ACT! Certified<br />All Covered/Dell Computer Visit<br />Deemed a “Lifestyle Company”<br />All Covered Offered Management Job<br />Hired a Consultant (Charles Weaver)<br />Refocused on building Scalable/Sellable firms<br />
  7. 7. What one e-ship book do you recommend?<br />#3 Entrepreneurship <br />Book on Amazon.com <br />
  8. 8. What are some rules you follow?<br />I utilize the Pareto Principle in everything!<br /><ul><li>Also known as “The 80/20 Rule”
  9. 9. States that, for many events, roughly 80% of the effects come from 20% of the causes.
  10. 10. In business: "80% of your sales come from 20% of your clients."</li></li></ul><li>What are some rules you follow?<br />I live within my means (also known as “Debt-Free”)<br />No Student Loans<br />No Car Loans<br />No Credit Card Debt<br />No Business Debt<br />
  11. 11. Where is the start-up capital?<br />Customer Money (Best Method!)<br />Personal Savings<br />Grant (SBIR’s)<br />3 F’s (Friend’s, Family and Fools)<br />Investors (Angels and VC’s)<br />Banks and SBA Loans<br />
  12. 12. What type of lifestyle do you want?<br />Let’s take a look at my 2010.<br />
  13. 13. For more information…<br />facebook.com/truckitnow<br />Internship Position Available<br />mickythompson.com<br />
  14. 14. Thank you for the invitation!<br />The University of Arizona<br />Entrepreneurship Student Association <br />

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