Tag Archives: Entrepreneurship

Great businesses are built around knowing what the customer wants, understanding what your company does best, and delivering exceptional value.  This is much easier said than done.  Hall of Fame quarterback turned business mogul Roger Staubach once said, “There are no traffic jams along the extra mile.” It takes great intentionality and skilled execution to deliver remarkable service again and again.  For companies that do like Four Seasons and The Ritz Carlton, people line up to pay a premium price for premium service.

Andrew (Drew) Adams

Drew Adams and his partner Stephen Miles are building a fast growth client service company because they are committed to that level of service excellence.  They formed Addicus, a multi-family office in 2011, and have experienced substantial growth by understanding the needs of their high net worth and high income earning clients and delivering great value.  Adams grew up outside of Birmingham and Atlanta before getting his undergraduate degree and MBA from Ole Miss.  Adams spent eleven years in the financial services business working in Memphis and Tupelo before joining up with his business partner Stephen Miles to form Addicus.  Adams noted, “Our purpose was to fill what we saw as a void in the marketplace, offering deep advice to families and business owners to optimize their wealth.”

The concept of a family office began in the era of Mellon, Carnegie, Rockefeller, etc.  These families realized they couldn’t get conflict free advice and the attention they needed without employing directly most, if not all, of their advisors (wealth managers, accountants, attorneys, human resources, etc.).  Adams explained, “Today, a single family office is not efficient for families with assets less than $1 Billion.  Therefore, there has been a large shift where single family offices are banding together with other wealthy families to spread the resources and costs to gain efficiency.”  The financial industry has adopted this model which has led to the rapid growth of multi-family offices.  Unlike many multi-family offices, Addicus offers its family office services to clients with a net worth from $25 Million and up, and does not manage money, instead they remain focused on unbiased advice, custom designed solutions, and complete implementation and management.

In addition to their family office services, Addicus provides holistic planning for high income earners as well.  To serve this type of clientele, Addicus has been committed to continually innovating and looking for ways to deliver exceptional service.  What high achievers understand is that they must always be striving to get better personally and professionally.  I noted that Adams participates in the renowned Strategic Coach program personally, and he and Stephen regularly use a business coach for their organization to help it continue to evolve as a team. In addition, they are members of the Family Office Exchange and have industry leading mentors.  Very few people take the time and invest the money to continually make themselves better like that.

Adams shared that he is inspired by the Vince Lombardi quote, “Perfection is unattainable, but if we chase perfection, we can catch excellence.”  Adams credits his father with instilling in him a commitment to leadership and service.  He shared, “I would go to work with my Dad as a young boy, and I was always in awe of the way his employees looked up to him.  He always seemed to have the vision that at first no one could truly understand or see until it was executed.”  I am impressed with how Adams and Miles have turned their vision into reality and how they are building a growing and successful organization.  They, along with their organization, will be ones to watch in the years to come.

Ted DiBiase, Jr.

As regular readers of this column know, I enjoy finding outstanding leaders on the rise in Mississippi and sharing their stories.  This week I was able to catch up with Ted DiBiase, Jr. who is fast becoming one of Mississippi’s entrepreneurial success stories.  If his name is familiar to you, it is likely that you know from his days as a professional wrestler with the WWE or you remember his father Ted DiBiase, Sr. a/k/a “The Million Dollar Man.”  Despite having a celebrity father and getting to hang out with people like Hulk Hogan and Andre the Giant, Ted had a fairly normal childhood growing up in Clinton and being active in several sports and student government. Ted reflected on the consistent message he heard from his father growing up.  “Son, I came from a small town with one traffic light, and the only one who ever believed in me, my father, died when I was 15. No one believed I would ever leave that town. If you want something bad enough, you’ll do whatever it takes to get it. It won’t be easy, and it will seem very lonely. Whatever you do, don’t follow the crowd. Blaze your own trail, and be a leader.”

Ted has heeded his father advice. After graduating from Mississippi College with a degree in business, he decided to follow in his father’s footsteps to become a professional wrestler.  Just because he had the last name DiBiase did not mean he had a free pass to stardom.  He had to work for it.  He moved to Eldon, Missouri and began his training to pursue his dream.  Ted shared, “I worked 4 jobs while training to become a professional wrestler. I would wake up at 4:00 a.m. to go cut 18 fairways on a golf course then go stock produce at HiVee grocery store. On the weekends, I folded underwear and T-shirts at a Polo store at the outlet mall, and I would sweep and mop a gym floor for a free membership. I did this while training 4-5 days a week learning how to wrestle in hopes that I would one day work for the WWE.”  The hard work and dedication paid off.  He worked his way up to becoming a WWE superstar and traveled the world before retiring in 2013.

Ted credits his success to faith, focus, commitment, and sacrifice. He shared, “Without these, I never would have overcome the sleep deprivation, the depression of being away from friends and family, or the fear of failure.” Despite retiring from the ring, Ted has not slowed down.  In fact, he is in high gear as a serial entrepreneur.  He is the co-founder of GiveChat, a tech start-up which is an online platform that raises money for charity by leveraging celebrity’s social media platforms and fan bases to award fans with VIP experiences, and part owner of CollegeGarageSale.com.  Ted is also the co-founder of Dofflin Strategies, a strategic planning and development firm dedicated to producing results through business development. Dofflin has quickly taken off and his company is working with clients from around the country. Ted has a “pay it forward” mentality and regularly speaks to large audiences on the topics of leadership and teamwork.

Ted is one of those rare individuals who dreams big dreams but has the drive and focus to turn those dreams into reality.  As leadership guru John Maxwell said, “The dream is free; the journey is not.”  Ted will certainly be a leader to watch in the years to come as he channels his talents and energy into building great businesses and serving others.

One of the great joys I have in writing this column is that I get the opportunities to meet a wide variety of leaders.  Some have been leading for decades and are in a stage of life where they are mentoring others while others are in the building phase of their career.  Having studied the lives of so many leaders, I like to think that I am able to spot leaders on the rise.  My interviewee this week, Tyler Harrison, is one of those young leaders that I believe will be making his mark. Harrison, a native of Monroe, Louisiana, is the owner of Harrison Homes, a residential construction company in Madison, Mississippi.

Tyler Harrison

A talented athlete, Harrison played junior college baseball before continuing on to Delta State where he played his junior and senior year and graduated with a degree in business.  Following a dream to be in the construction industry, he went on to earn a second undergraduate degree at the University of Louisiana at Monroe in construction.  For the next 12 years, Harrison worked as a construction project manager with Brasfield & Gorrie, a large Alabama based construction firm and Mid State Construction, a Mississippi based firm.  During this time, he had the opportunity to work on large scale projects such as expansions at Baptist Hospital, St. Catherine’s Village, and Jackson Academy.  He also worked on a large condominium project in Houston, Texas.  Harrison noted, “B&G and Mid State both approach business relationships with honesty at the top of the priority list.  That’s something that’s ingrained in their culture, and is also ingrained in me.  They also provided me many opportunities as a young leader to learn and develop as a leader.”

Pre-2008, it seemed like everyone I knew was trying to get into the construction business whether qualified or not.  Most of those people have returned to their old jobs or moved on; however, Harrison decided to follow his passion and step out of his fast track trajectory as a commercial construction industry leader and start his own homebuilding company.   He explained, “My initial interest in construction rooted from an interest in homebuilding.  This seemed like the right move for a long time.  I enjoy time at home and love thinking about the aspects of a home that can make it better or more enjoyable for a family.”  As any entrepreneur knows, it is never easy launching a new business, but Harrison’s experience, leadership style, and commitment to excellence have allowed him to develop a thriving business quickly.

Harrison shared that his baseball days have been influential on his character and leadership style. He shared, “Playing college baseball taught me to be a team player, to take constructive criticism, and push through tough times.” He also emphasized the life lessons he learned from his family that have prepared him for this journey.  “My dad has a work ethic that is contagious.  He will not cut corners and always finishes what he starts.  While my maternal grandfather died when I was young, he was a colonel in the air force and was regarded highly because of his achievements and humble nature.  My paternal grandfather was a successful small business owner in southern Arkansas, who was very diligent, yet quiet and humble.”

Harrison is a humble “hands on” leader.  He explained, “I have always been impressed with people who lead by example, and I strive to lead by example rather than by portraying myself as better than, or above someone else.  I strive to help those around me succeed, but continue to work hard and stand firm to ensure my own success as well.”  For other aspiring leaders he emphasized the importance of learning from others and becoming a working “not only a leader but also a teammate.”  I am always encouraged to be around talented leaders who have the courage to follow their dreams.  I expect we will see Harrison making an impact in the community for years to come.

Mississippi, the home of literary greats such as Faulkner, Morris, and Welty, arguably has had more than its fair share of people talented with the gift of words. Joe Stradinger, Founder and CEO of Edge Theory, and I recently discussed this cultural history.  We joked that perhaps the soil is richer here in Mississippi.  Joe’s company is tapping into this tradition in a very exciting and unique way. They are marrying innovative technology with the rich Southern tradition of conversation to achieve measurable results for companies in the realm of social media marketing.  Joe grew up in the Mississippi Delta and earned his accounting degree from Mississippi College before traveling the world as a business consultant with Arthur Anderson.  In 1998, he started Musicforce.com, an online Christian music site, which was an instant success and was acquired by Gaylord Entertainment shortly after its launch.  After working for Gaylord Entertainment and launching Gaylord Digital, Joe went on to success in real estate projects before returning to his knack for technology innovation.

Joe Stradinger

As social media was just ramping up, Joe saw its potential and was on the leading edge of thinking about how to apply it to help businesses grow.  He consulted with companies like Viking Range and Home Away on how to authentically engage and connect with customers.  Joe’s research and work in this field led him to launch Edge Theory (formerly known as Leadify) in 2012.   Joe noted, “I realized that the true power of social media is not in likes, follows or favorites.  Instead, social media has the greatest impact and the greatest return from the indexing of content that occurs daily across hundreds of search engines and content aggregators, effectively raising authority and disseminating content to thousands of people who will never like nor follow a business’s social media accounts.” He continued, “Companies pursuing authentic conversation (beyond the overt repetition of self-promotion) can connect with thousands of people before they ever think about a company or search for a product or service. Every day, a business can connect consumers with their interests.”

He contrasts traditional search engines where people already know what they are looking for with what he does which he describes as a “Find Engine.”  Interestingly, he helps companies connect with customers before they are even customers.  Joe calls these “pre-customers.”  His company does this by helping clients create and engage in conversations with these pre-customers around their passions and connecting them with his client’s location, features, & unique value.  Former Netscape CEO Jim Barksdale recognized the potential of this new company and now serves on the Board of Directors.  The company is quickly scaling its business and now has offices in Boston, Dallas, Los Angeles, and New York in addition to their headquarters in Jackson. They have clients on three continents which include well-known brands as Neiman Marcus, Match.com, Mayo Clinic, and Travelocity as well as Mississippi based Trinity Apparel, University of Mississippi Medical Center, and Mississippi College.

I am always on the lookout for great companies on the rise in Mississippi, and I was excited to learn of Edge Theory’s aggressive plans for growth.  Joe’s energy and passion are contagious.  In addition, I was struck by his pride in his Mississippi roots.  As he travels the globe evangelizing for his company and this innovative marketing model, he is often asked how he could create a company like this in Mississippi as opposed to the normal technology centers like San Francisco, Austin, or Boston.  When he explains Mississippi’s history and knack for the art of conversation, he is able to say, “There is no place I would rather be!”

In February of 2005, I was practicing in a two person law firm when my law partner and good friend Jesse Harrington passed away.  It was a time of great difficulty, and I considered what path to next take in life.  I distinctly remember someone sharing with me to not make any drastic changes for at least a year.  That was great advice. Towards the end of that year, I had the opportunity to get to know a young talented attorney named Patrick McCraney.  Patrick was several years younger than me, but had a great resume as an Ole Miss graduate and a law degree from Washington & Lee.   He had recently served as President of the Jackson Young Lawyers and was building a reputation as a real estate and business lawyer.

Patrick McCraney

The son a prominent Jackson physician, Patrick was the youngest of four high achieving siblings.  Out of law school, he had an entrepreneurial drive which led him to explore some different avenues to combine his love of the law with his passion for business.  Some may describe that entrepreneurial drive as an affliction, if so, it is one that I have suffered for most of my life.  With a similar drive to help businesses grow and prosper, Patrick joined my law practice and over the next several years built a thriving practice. Except for a brief stint as a general counsel of a real estate company, Patrick focused on building his client base and continuing his leadership development including being a part of the inaugural class of the Mississippi Bar Leadership Forum and serving in leadership roles with Young Business Leaders of Jackson and the Capital Area Bar Association.

When I stepped away from practicing law day to day and assumed my current role with Butler Snow Advisory Services, Patrick took the leap to form his own law firm which today is McCraney, Coco & Lee, PLLC.  It is with great satisfaction that I have watched him develop as a leader in the law and build a thriving law practice.  I know first-hand how challenging it is to start a practice from scratch and juggle the demands of taking care of clients as well as running the operations of a law firm.

Patrick credits his parents with modeling for him the qualities of a leader.  He noted, “My father demonstrated consistency, priorities, faithfulness, discipline and compassion.  He had zero fear of being ‘unpopular’ in our world if that meant doing what he believed was right for our family or our well-being/personal development.”  His mother also assumed multiple leadership roles in the community, and he shared, “She clearly demonstrated that leadership roles were to be embraced and you should serve when called upon if at all possible within the context of your schedule and priorities.”

For future leaders, Patrick encourages them to “Be yourself!”  He shared, “You can certainly learn from and emulate others, but everyone’s leadership style is unique.   Lack of authenticity is very transparent and easily detected.   As much as people are drawn to authentic leadership, they are equally repelled by disingenuous actions and attitudes.”  Patrick also emphasized the importance of being a good listener and noted, “You can’t truly lead others when the only perspective or viewpoint you hear is your own.”   With four young children and a law practice to manage, Patrick keeps a very busy schedule; however as modeled by his parents, I expect that we will see continued commitment to leadership in his profession and the community.

If we are not careful, we can find ourselves living someone else’s version of our life rather than our own. Whether from a parent, spouse, friend or simply societal expectations, the pressure to follow a path in life that is not our own choosing can be enormous. In his 2005 commencement address at Stanford University, Steve Jobs emphasized this point to the graduates. “Your time is limited, so don’t waste it living someone else’s life. Don’t be trapped by dogma — which is living with the results of other people’s thinking. Don’t let the noise of other’s opinions drown out your own inner voice. And most important, the courage to follow your heart and intuition.”   Jobs struck a chord with this speech which went viral on YouTube. I was reminded of this quote as I visited with my interviewee this week, Tyler Raborn, co-founder of Raborn Media. Tyler and his wife, Amanda, are young entrepreneurs on the fast track to success.

Tyler Raborn

Tyler moved around a lot growing up (over 19 times), but he finished high school in Metro Jackson before going off to Mississippi State where he majored in accounting. After interning with Pricewaterhouse Coopers in Atlanta, he decided to pursue a law degree at Tulane University. He excelled in school and worked as a law clerk as he plotted his career path as an attorney. However, sometimes life takes you in a different direction as Tyler soon found out.

While he was in law school, Amanda worked at a marketing firm in New Orleans where she specialized in social media. At heart, they are both entrepreneurs and so they felt the tug to pursue a different path.

In early 2013, they began to discuss and pray about starting their own marketing company. They shared a passion for technology, marketing, and helping people. They conducted significant research and planning and in early fall 2013 launched Raborn Media. By the end of 2013, their business had exploded with clients as their ROI oriented approach to digital marketing connected with many business owners searching for answers on how to grow their business. Tyler faced a difficult decision as he needed to focus full time on his growing company, but he still lacked one semester to finish law school. He made a difficult decision and chose to focus on his business and relocate to Jackson.

Tyler candidly noted, “In addition to the financial risk of starting a business, I realized that I was breaking a societal norm by pursuing this path.” He was on the track to be a tax lawyer, but that was not his passion.  He shared, “While I was interested in helping people protect their assets, what I truly enjoy is helping people grow their assets through effective use of digital marketing.” I respect that fact that an early age Tyler has taken the “road less traveled” and pursued his dreams.  Journalist Christopher Morley once noted, “There is only one success — to be able to spend your life in your own way.” It takes wisdom and courage to understand what you really wanted to do with your life and to vigorously pursue it. I think that is why Steve Jobs emphasized it to the class at Stanford. Faced with significant health issues, Jobs knew that life was short and that you have to sometimes block out the noise of the voices of others to make sure you understand your own inner voice.

Amanda and Tyler have clearly followed this advice and are charting their own course. I always kept my eye out for up and coming entrepreneurs, and I believe Tyler and Amanda are ones to watch.

I  often hear people say about a particular business or idea: “I thought of that a long time ago, but I never acted on it.” They indeed may have had an idea for a very successful business, but unfortunately, it remained just that – an idea.

Novelist Andre Malraux said, “Often the difference between a successful person and a failure is not one has better abilities or ideas, but the courage that one has to bet on one’s ideas, to take a calculated risk – and to act.”

Unfortunately, the prize only goes to those who take initiative.  I subscribe to the theory, “Ideas are cheap; execution is expensive.”  Obviously, the reality of taking action is that there is risk.  However, as author Denis Waitley noted, “Life is inherently risky. There is only one big risk you should avoid at all costs, and that is the risk of doing nothing.”

Gary Watts, Founder and CEO of Broadband Voice, is one of those entrepreneurs that is not afraid to turn ideas into action.

Gary Watts

Watts grew up in Jackson and graduated from Mississippi College.  Upon graduation, he had the opportunity to own and operate a Dairy Queen franchise which he did for almost a decade. He went on to work in the sales division for a startup technology company, Unity Communications, based in Jackson. He was rapidly promoted to VP Sales in 2000, and in 2006,

Watts recognized that the next generation of telephony would be rooted in hosted VoIP solutions. That realization led him to start Broadband Voice to provide Voice over IP (VoIP) products and services for small to medium-sized businesses.  The company has now become one of the fastest growing VoIP technology companies in the Southeast.

Watts shared with me some words of wisdom for other leaders and entrepreneurs.  “Take chances. One thing that I do (probably to my wife’s dismay) is take chances. I’ve never heard of anyone growing and learning without some failure. And failure affords us opportunities that we might not otherwise experience.”  Watts candidly noted, “I walked away from owning a franchise in a situation that most people would have seen as a failure. But if I never had that experience, I would have never been able to establish the relationships and learn what I have to help build our growing business at Broadband Voice.”

One of Watts’ other key beliefs is that it is critical to operate a business with integrity.  He noted, “I’m a firm believer in running a business of ethical excellence. More and more, I see that honesty is becoming less valued, and it concerns me for our future. Our business and communities will thrive if we focus on transparency in our relationships.”  He also emphasized that trusting the people he hires is a key business philosophy.  Watts said, “I remain dedicated to choosing good people to lead Broadband Voice and allowing them to enhance their skills set within the workplace so that they are aligned to help lead this company to great things. Micromanaging leads to stifling the people within your business, which can lend itself to high turnover and an unhealthy business model.”

Watts is a great example of a leader who is not afraid to take a calculated risk and act.  Once he realized there was an opportunity in the marketplace to serve customers using VoIP technology he thoughtfully analyzed the marketplace and then with passion and persistence executed on his plan to deliver great service to customers.   Leaders like Watts remind me that true accomplishments occur when ideas are put into ACTION.