Starting Your Own
Company
IT
The Journeys of Three St. Louis Entrepreneurs
MS/IS 480
Fall 2002
Lou Henderson + Sarah Smith
Starting Your Own
Company
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IT
Entrepreneurial Self-evaluation
Literature Review
Interviews with St. Louis IT Entrepreneurs
Conclusion
Bibliography
Starting Your Own
Company
IT
• Entrepreneurial Self Assessment
What are your entrepreneurial qualities?
Entrepreneurial
Self-Assessment
IT
1) Are you a self-starter?
• If someone gets me started, I keep going all right.
• I do things my own way. Nobody needs to tell me to
get going.
• Easy does it. I don’t put myself out until I have to.
Entrepreneurial
Self-Assessment
IT
2) How do you feel about other people?
• Most people bug me.
• I like people. I can get along with just about anybody.
• I have enough friends and I don’t need anybody else.
Entrepreneurial
Self-Assessment
IT
3) Can you lead others?
• I can get people to do things if I drive them.
• I can get most people to go along with me without
much difficulty.
• I usually let someone else get things moving.
Entrepreneurial
Self-Assessment
IT
4) Can you take responsibility?
• I’ll take over if I have to, but I’d rather let someone
else be responsible.
• There’s always some eager beaver around waiting to
show off. I say let him.
• I like to take charge of and see things through.
Entrepreneurial
Self-Assessment
IT
5) How good an organizer are you?
• I like to have a plan before I start. I’m usually the one
who lines things up.
• I do all right unless things get too complicated. Then
I may cop out.
• I just take things as they come.
Entrepreneurial
Self-Assessment
IT
6) How good a worker are you?
• I can’t see that hard work gets you anywhere.
• I’ll work hard for a time, but when I’ve had enough,
that’s it.
• I can keep going as long as necessary. I don’t mind
working hard.
Entrepreneurial
Self-Assessment
IT
7) Can you make decisions?
• I can if I have plenty of time. If I have to make up my
mind fast, I usually regret it.
• I can make up my mind in a hurry if necessary, and
my decision is usually O.K.
• I don’t like to be the one who decides things. I’d
probably blow it.
Entrepreneurial
Self-Assessment
IT
8) Can people trust what you say?
• I try to be on the level, but sometimes I just say
what’s easiest.
• They sure can. I don’t say things I don’t mean.
• What’s the sweat if the other fellow doesn’t know the
difference?
Entrepreneurial
Self-Assessment
IT
9) Can you stick with it?
• If I make up my mind to do something, I don’t let
anything stop me.
• If a job doesn’t go right, I turn off. Why beat your
brains out?
• I usually finish what I start.
Entrepreneurial
Self-Assessment
IT
10) Can you keep records?
• Records are not important. I know what’s need to be
known without keeping records.
• I can, but it’s more important to get the work out than
to shuffle numbers.
• Since they are needed I’ll keep records even though I
don’t want to.
Entrepreneurial
Self-Assessment
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IT
Grading
0 – wrong. Excellent. You are a born entrepreneur.
1 – wrong. Very good. You have what it takes to
succeed in a business of your own.
2-3 – wrong. You have the qualities of a successful
entrepreneur with some weak spots.
4-6 – wrong. Your prospects are doubtful.
6+ - wrong. No chance of success.
Starting Your Own
Company
IT
• Literature Review
What are the qualities of successful entrepreneurs?
Top 14 Characteristics Research Based On Frequency
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Self Confidence
Working Long Hours
Focused
Risk-Taker
Money = Accomplishment
Deep Knowledge/Head for Business
Passion
Loner
Competitive by Nature
High Energy/Good Health
Planner
Creative/Inventive
Support Network/Contacts
The Journeys of
Entrepreneurs
3
• John Forti, Next Century Design
• Greg Sullivan, G.A. Sullivan
• Susan S. Elliott, Systems Service Enterprise
Next Century
Design
John Forti
Born:
1971, St. Louis, MO
Family:
Mother and younger sister
Education: CBC High School
Meramec Community College
UMSL
Professional Experience:
President, Next Century Design, 1997 - Present
Company
Profile
Founded:
1997
Business:
Network design and security
System support, maintenance, replacement & upgrades
Office collaboration including company wide contacts,
calendars, and Internet/palm device-PC integration
Workers can work from anywhere in the world
Locations:
St. Louis
Sales:
1.2 Million
Employees: 3
Clients
Clients
• ESCO Technologies Inc.
• Sheraton Hotels
• Ameren Energy
.....
History
...
Childhood
• Favorite toy – Star Wars figures
• School likes - friends
• School dislikes – being told what to do, irrelevance of
subjects, teaching was too slow.
• Sports – soccer and baseball
• Activities – training and riding his horses,
Commodore 64 computer, BB gun fights
• Parents – Dad salesman and Mom entrepreneur
IT Transition
• 1994 Bought old computer from his dad and started
to get back on the bulletin boards
• Decided he would go to school, get a computer
science degree, and work for a company for two
years then start his own company.
• He went to UMSL for a couple classes and decided
that it was useless.
• He realized he needed to learn on his own so he
became Microsoft Certified.
Business Startup
• He learned how to run a business by managing his
mother’s for six years.
• Mom’s clients asked about John, so he put a sign up
in her shop stating what he had been doing and
business just started from there.
• His first job was buying new computers, installing and
making a network run for a neurosurgeon's office.
• Challenges – being self funded, licenses, federal &
state tax Ids, and hiring first employee
Critical Success
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Skills
His networking skills created this startup!!!
Strengths – ability to deal with people
Weaknesses – he cannot do everything his self
Most important skills for success – 52% people skills
and 48% tech skills. “ I have to know what the hell I
am talking about, but more importantly I need to be
able to convey that information in plain English to my
customers.”
Current
Status
Business
• Do you ever regret starting your own company?
“Sometimes. It is really hard and scary at times… I
mean my balls are on the line, everything revolves
around me. Everything in this business was bought
with my own money if it fails I am out all that money.”
• Do you ever feel like you have accomplished the
goals you set out for? “I am constantly raising the
bar. I feel like my goals are a dollar bill in the wind
and no matter how close I get to it I can never catch
it.”
Current
Status
Personal
• Works 50 – 60 hours per week
• Relaxation – play with dogs, TV, cycling, and spa
• Sports – weight training, cycling, some running
raising the bar. I feel like my goals are a dollar bill in
the wind and no matter how close I get to it I can
never catch it.”
Which Characteristics
Fit John Forti?
Characteristics We
Feel Fit John Forti?
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Self Confidence
Working Long Hours
Focused
Risk-Taker
Money = Accomplishment
Deep Knowledge/Head for Business
Competitive by Nature
High Energy/Good Health
Planner
Creative/Inventive
Support Network/Contacts
G.A. Sullivan
Business
Greg Sullivan
Born:
1958, Gladstone, MO
Family:
Wife, Christine
Daughter, Riley, Age 4
Education: Washington University in St. Louis, 1981
BS in Systems Science and Mathematics
Professional Experience:
Programmer. MARC 1982
President, G.A. Sullivan, 1982 Present
Company
Profile
Founded:
1982
Business:
Software development consulting services
Specializes in web-based application development,
a line of business applications, e-commerce, data
warehousing, company-wide intranets
Locations:
St. Louis (headquarters),Kansas City, Mo, Cincinnati,
Nashville, San Antonio, Detroit, Atlanta, Boston,
Seattle, Fairview Heights, IL
Revenues: $31 million (2001)
Employees: 250
Clients
Clients
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Ernst and Young, The Netherlands
Marathon Oil
State of Missouri
Kansas City Public Library
Bridge information Systems
Saturn
Clear Channel Communications
General Life
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Industry
Recognition
Industry Recognition
• National Small Business Person of the Year, 1999
• Inc's 500 list of fastest growing companies in America, 1997,
1998, 2000
• Deloitte and Touche Technology Fast 500 list of fastest growing
companies in United States.
• Ernst &Young Entrepreneur of the Year for the
Software/Information Services Category, 2000
• Deloitte & Touche St. Louis RCGA Fast 50 Company, 1996-2002
Beginning in
1982
Starting the business…
>>When I thought about it, there really wasn’t
anything else to do. There were no
opportunities for someone with a math degree,
and the job market wasn’t like it is now. I
didn’t have the heart to tell my mother and
father I didn’t have a job after that great
education<<
Journey
.....
The beginning…
• 1981 – Graduates from Washington University, takes
summer job programming….company folds
• 1982 – Starts own company at age 24 with $300 in
start-up capital…..Programs PC’s every day for the
next 10 years….has fun…falls in love
• 1992 – Celebrates 10th Anniversary with 5
employees…Decides to expand company…Develops
business plan, hires advertising agency and
marketing consultant, hires staff…
Journey
.....
The growing years…
• 1998 – Revenues near $14 million, employs 175 people
• 1999 – Sullivan named as Small Business Person of the Year
• 2001 – Revenues exceed $31 million
• 2002 - Celebrates 20th Anniversary
Enthusiasm
......
>>My philosophy about
business is to have fun along
the way<<
Focus
>>We do one thing, one thing
only, and that allows us to be
the best at what we do: we
develop software.<<
......
Which Characteristics
Fit Greg Sullivan?
Characteristics We
Feel Fit Greg Sullivan
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Self Confidence
Working Long Hours
Focused
Risk-Taker
Money = Accomplishment
Deep Knowledge/Head for Business
Loner
Competitive by Nature
High Energy/Good Health
Planner
Creative/Inventive
Support Network/Contacts
SSE
Inc.
Susan Elliot
Born:
1937, St. Louis, MO
Family:
Husband, Howard
Daughters, Katherine and Elizabeth
Education: Smith College, 1958
BA in American Studies
Professional Experience:
IBM 1958-1966
SSE Incorporated, 1966
Revived, 1983
Company
Profile
Founded:
1983
Mission:
To apply information technology to deliver solutions that
create value for customers. Services range from
computer network design and deployment to software
development, computer training, including custom
training courses and learning solutions.
Sales:
$8.7 Million (1999)
Employees: 120
Clients
Clients
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Anheuser-Busch
Bridge Information Systems
SBC Communications
Enterprise Rent-A-Car
Boeing
Mastercard International
SSM Healthcare
U.S. Army
Industry Recognition
Industry Recognition
• Fast 50 Technology Award
• One of the 25 Most Influential Business Women in St.
Louis, 1999
• Federal Reserve Bank of St. Louis (Chairman and
Deputy Chairman)
• St. Louis Business Journal’s 2001 Book of Lists –
Ranked 2nd largest software training company
Advice
......
>>You can go as far and as high
and as wide as you want to. All
you have to do is put your mind
to it and do it<<
Ronald Beasley, Mary Institute Headmaster
Journey
The beginning…
• 1958 – Graduates from Smith College…Hired by
IBM…Works 16-20 hour days as systems
analyst…loves work
• 1966 – Becomes pregnant…Required to begin
maternity leave at 6 months…Leaves
IBM…Incorporates SSE
• 1966 - Begins programming for First National
Bank…Daughter Kathryn born
Journey
The beginning…
• 1969-1973 Family relocates several
times…continues consulting…Daughter Elizabeth
born
• 1973 – Returns to St. Louis…Focuses on family and
community involvement
• 1983 – Attends 25th Reunion at Smith
College…Classmates encourage reentry into
workforce…Wins IBM PC at auction
Journey
The growing years…
• 1983 – SSE reactivated from basement of
home…installs IBM computers…initiates training
sessions
• Mid 1980’s– Company continues to grow – clients
include Emerson and Monsanto
• 1990’s – SSE expands services to include application
development, network design and deployment, and
blended learning.
Journey
The growing years…
• 1998 – SSE begins succession program…Hires
President/COO…Daughter Kathryn assumes
expanded role.
• 2001 – SSE ranked as 2nd largest software provider
in St. Louis.
• 2002 – Celebrates 19th Anniversary
Advice . . . . . .
Advice from entrepreneurs
• Assess your tolerance before you dive in
• Brace your home life
• Don’t take the entrepreneurial leap simply for
money…follow a real passion
- Tom Ashbrook
Reflection
......
>>Life is sort of a mosaic...we
do things in our life because it's
right at the time...all of a
sudden, all these pieces come
together.<<
Commitment
......
>>You never question
yourself...you just do whatever
needs to be done.<<
Which Characteristics
Fit Susan Elliot?
Characteristics We
Feel Fit Susan Elliot
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Self Confidence
Working Long Hours
Focused
Risk-Taker
Money = Accomplishment
Deep Knowledge/Head for Business
Loner
Competitive by Nature
High Energy/Good Health
Planner
Creative/Inventive
Support Network/Contacts
Similarities…
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Technical skills and business savvy
Creative
Forward thinking
Independent thinkers
Similarities…
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Modest beginnings
Personal and professional networks
Passion
Self-confidence
High energy
Conclusions…
Entrepreneurs are exceptional in the
way they live, work and think. They are
hard workers who are intense, focused,
energetic and innovative. Successful
entrepreneurs are to be admired for
these characteristics.
Bibliography . . . . . .
1) Amelin, Ron, “Small Business Person of the Year – Greg Sullivan’s Firm Grows
by Leaps and Bounds” St. Louis Business Monthly, Vol.12,issue
IV,May,1999,pp.1-4.
2) Bricklin, Dan “Natural-Born Entrepreneur” Harvard Business Review, September
2001, pp.53-59.
3) Business Town.com,”Profile of an Entrepreneur,”
www.businesstown.com/entrepreneur/article2.asp, viewed October 25, 2002.
4) --- “.Entrepreneurial – Myths about Entrepreneurs,”about
www.businesstown.com/entrepreneur/article2.asp, viewed October 25, 2002.
5) --- “Entrepreneurial – Self-Analysis,”
www.businesstown.com.com/entrepreneur/article3.asp , viewed October
25,2002.
6) ---.”Entrepreneurial – The Success Formula,”
www.businesstown.com/entrepreneur/article4.asp viewed October 25, 2002.
Bibliography . . . . . .
7) Department of Industry and Commerce, Women’s
Entrepreneurship Branch, Government of Quebec, “to Be or Not
to Be an Entrepreneur, Quebec City:1987,”
www.cbsc.org/alberta/tbl.cfm/fn=cutout, viewed October, 25,
2002.
8) Driessen,Martyn P. and Zwart, Peter S., “The Role of the
Entrepreneur in Small Business Success: The Entrepreneurship
Scan,” www.sbaer.uca.edu/Research/1999/ICSB/99ics079.htm ,
viewed October 25, 2002.
9) Elliott, Susan, Chairman and Chief Executive Officer, Systems
Service Enterprises, Inc., interviewed in person by Sarah Smith,
October 23, 2002.
10) Forti, John, President, Next Century Design, interviewed in
person by Lou Henderson, October 9, 2002.
Bibliography . . . . . .
11) Goodman, John P., “What Makes an Entrepreneur,”
www.imc.com/articles/growth/pers develop/burnout/3131.html viewed
October 25, 2002.
12) Littunen,Hannu, “Entrepreneurship and the characteristics of the
entrepreneurial personality” International Journal of Entrepreneurial
Behavior and Research; Vol.6,6,2000,starting page 295.
13) O’Reilly, Brian, “What it takes to start a startup” Fortune, Vol.139,11,
June 7, 1999, pp.135-140.
14) “Passing the Baton” Commerce Magazine, October, 2002, Reprint.
15) Small Business Resource Center, “The Successful Entrepreneur,”
www.successfulbusiness.org/allaboutbusiness/thesuccessfulentreprene
ur.htm viewed October 25, 2002.
Bibliography . . . . . .
16) Sullivan, Greg, President and Chief Executive Officer, G.A. Sullivan,
interview in person by Sarah Smith, October 8, 2002.
17) THE BUSINESSLINK Business Service Center, “Self-Analysis
Questions – Do I Possess Entrepreneurial
Qualities?”,www.cbsc.org/alberta/tbl.cfm/fn+self_analysis&pf=1.
18) “The Entrepreneur Test – an interactive quiz,”
www.liraz.com/webquiz.htm viewed October 25, 2002
19) Tucker, Daile, “Are you an Entrepreneur?”,
www.angelfire.com/tx/KnowledgeRUs/ viewed October 25, 2002.
20) “2000 entrepreneur of the Year Awards” St. Louis Commerce
Magazine, July, 2002, Reprint.
Bibliography . . . . . .
21) www.gasullivan.com viewed October 1, 2002.
22) www.ncdtech.com viewed October 2, 2002.
23) www.sseinc.com viewed October 1, 2002 Reprint.