In the world of tech entrepreneurship, it's rare to encounter a figure as multi-faceted and grounded as Fred Thompson, the mastermind behind BuildEmpire and several other ventures that are shaping the future of software development and e-learning. In an enlightening interview with Matthew of The Bright Founders Talk at Temy, Thompson shared insights into his journey from a precocious tinkerer of software to a serial entrepreneur with a keen eye for gaps in the market.
His story, devoid of the traditional academic path, is a testament to the power of practical skill and entrepreneurial spirit over conventional routes. Starting as a freelancer, Thompson leveraged his software development acumen to create businesses that not only filled voids but also resonated with the needs of modern enterprises. From an ad-hoc business setup to managing teams across ventures, his trajectory is anything but ordinary. In our latest article, we delve into the mind of a man who personifies British understatement, discussing his reluctant embrace of the 'serial entrepreneur' label and his unique approach to building businesses that are both interconnected and distinct.
Join us as we explore how Fred Thompson's casual conversation on a stag do translated into cutting-edge warehouse management software and why sticking with his ventures through thick and thin has been the key to his success.
Tech Renaissance Man: Fred Thompson and the Art of Juggling Innovation
In the heart of our discussion, Fred radiates the kind of enthusiasm you'd expect from someone who's not just founded one, but three thriving tech companies. He laughs at the complexity of his professional titles, yet there's a glint of pride in his eyes as he describes the diverse territories his businesses encompass: from the frontiers of e-learning to the intricate world of warehouse management software. "It's hard to find common ground sometimes," Fred muses, but his casual shrug belies the razor-sharp acumen required to steer such varied enterprises.
Fred's journey reads like a coder's dream chiseled into reality. Skipping university in favor of immediate industry immersion, he describes a rapid climb from a solitary freelancer to the helm of a 20-strong workforce. Fred's narrative is punctuated with the nuts and bolts of tech entrepreneurship: growth, the first hire, and the joy of creation. "You get busier, you do a good job, you enjoy it, and it grows," he says, distilling years of hard work into a single sentence. And Fred's best quote encapsulates this ethos perfectly: "Sticking with things is always key." It's this tenacity, a blend of grit and passion, that's seen him evolve from solo developer to serial innovator.
You get busier, you do a good job, you enjoy it, and it grows
Yet, it's a stag do – that quintessentially British breeding ground for ideas – where Fred's tale takes an unexpected turn. Here, amid the revelry, he reconnected with an old school friend, and their lament over outdated warehouse management systems sparked a venture that would stretch from the UK to Australia. This anecdote captures Fred's entrepreneurial spirit – seizing opportunities in the unlikeliest of places and times. His approach to business is relational, not just transactional. It's about the bonds forged over years, sometimes decades, and the serendipitous collisions of right place, right time. Fred might shy away from the label 'serial entrepreneur' for its ostentatious ring, but his story is a testament to the power of that very archetype – British modesty notwithstanding.
Finding the Balance: Fred's Take on Juggling Startups, Teams, and Fatherhood
Fred's voice carries a warmth and practicality as he delves into the art of balancing multiple projects. The buzz of a passing car fades, leaving his thoughts clear to us. "You have to be like a parent with children, have a few businesses in case some don't pan out," he explains. It’s not about having a favorite child; it's about nurturing them all and seeing who stands up to the world's test. But isn't that a colossal weight to carry? Fred shrugs off the burden of fear, "The actual risk is quite slim... if it goes wrong, pick yourself up and try again." Entrepreneurs echo this sentiment, their successes often built on a foundation of past failures, lessons learned, and the unyielding will to improve upon yesterday.
As the sun dips below the horizon, marking the end of another day, Fred talks about stepping back. With a team that shares his vision, he has structured his businesses to run independently for periods, an entrepreneur's dream. The change wasn’t overnight, though. Fred reminisces about the days he used to be hands-on, his schedule stretching into the wee hours. "I've got two kids now. They need me, and that helps put things into perspective," he shares. There's a strong message here, echoed in the thoughtful structure he's built around his businesses—work-life balance isn't a luxury, it's a necessity. "We shut off and enjoy your evenings and weekends," he insists. This isn't just for him; it's a culture he's fostered throughout his enterprises. No emails after hours, a rule set in stone, encouraging everyone to recharge and value their time—a nod to the fleeting nature of the moments we often take for granted.
As our conversation veers towards team dynamics, Fred emphasizes the importance of a cohesive team. It's a dance of sorts, finding the rhythm between skill and cultural fit. Mistakes in hiring taught him valuable lessons, with each interview refining the process further. It's a two-way street where both parties must resonate with each other. "We’ve both got to work together," he states, underscoring the mutual selection process. Hiring isn't just ticking boxes for technical prowess; it’s about weaving a fabric that holds strong under the pressures of startup life. Fred highlights the significance of building trustworthy partnerships in recruitment, ones that understand the unique needs of his businesses. "Once you find that partner, you stick with them," he says, hinting at the symbiotic relationships that bolster a company’s foundations. In the intricate dance of building a successful team, every step, misstep, and leap forward counts.
In the game of startups, the real risk lies not in failure, but in failing to rise and try again
Navigating the Tech Tide: Fred’s Formula for Staying Ahead in Innovation
Moving into the heart of the conversation, Fred laid out the canvas of his ventures, highlighting the constant battle to stay relevant in a tech-driven market. "In the cloud sector," Fred remarked, "we're playing catch-up with legacy giants. But it's not just about feature parity; it's about delivering unmistakable value." His voice carried the weight of experience, stressing that while AI and cutting-edge tech are shiny lures, the real catch is in the net value they bring to the table. "We're in an outcomes-based business," he said, pausing for a moment, "and the bottom line is about upscaling staff, fine-tuning training, and enabling L&D teams to curate content more effectively."
We're in an outcomes-based business
Fred's approach isn't about deploying tech for the sake of buzzwords; it's about weaving it into the very fabric of operational efficiency. "It's about those 'how did we ever live without this?' moments," he explained, with a casual chuckle that belied the gravity of such innovation. The company doesn’t just stack features; they integrate solutions like a Swiss Army knife for business problems, syncing seamlessly with ERPs, order systems, you name it. It's the simplicity of the solution that belies its power—solving larger, complex issues by focusing on the most impactful enhancements.
Then, navigating the triad of his business responsibilities, Fred was asked about prioritization—specifically, what gets the red alert when the inevitable fires start? "Every customer is gold," Fred began, his voice firm yet contemplative. "But with Clara's, the stakes are sky-high." He painted a picture of a halted warehouse—no movement, spoiled goods, empty shelves—underscoring the critical nature of their software. "We leap into action because literally, nothing moves without us," he emphasized. The best quote that captures Fred's commitment: "It's so business-critical that when it does happen, we're on it first." But Fred's real mastery seems to be in recognizing when to step back and let his talented team take the reins, ensuring that the business machine runs smoothly, even amidst chaos.
Tapping into Tech: Fred Thompson's Candid Take on Building a Software Empire
In the digital gold rush of the 21st century, Fred Thompson has been panning out his success story with a refreshing blend of passion and pragmatism. Speaking of his company's journey, Fred shared the underpinnings of a tech enterprise that has not only survived but thrived in the ever-evolving cloud landscape. "We've seen natural movements in all the products and platforms we have," Fred explained, emphasizing the organic growth and adaptability that have been the cornerstone of their success. "Once we think we've nailed what we're currently doing, there's always more we can explore within our space, without reaching too far afield."
Diving deeper into the ethos that has fueled their triumph, Fred highlighted a philosophy that many budding entrepreneurs would do well to note. "It's about going for it and shedding the fear of failure," he advised, his tone earnest yet empowering. The essence of his approach is simple yet profound: "Love what you do before you do it." This maxim has clearly served him well, as he reminisced about his early days in love with software development, a passion that made the long hours seem like a breeze. His best piece of advice? "Always hire smarter people than you," he chuckled, "be the 'worst' in the room, because those are the people who will push your business forward." The interview took a turn towards the tangible, as Fred discussed the tactics that have helped build a strong rapport with clients and staff alike. "Answer the phone," he stressed, "Be honest with your customers, and treat your staff like adults." He believes in creating a culture where trust is paramount, and processes are designed to empower. Reflecting on the company’s trajectory, Fred acknowledged the learning curve, "I didn't know all this when I started, but sticking to these principles has set us up well." His approach is testament to a belief that treating people well and maintaining a transparent relationship with customers is the foundation of a sustainable business.
Always hire smarter people than you
As our conversation neared its end, Fred left us with a reflective nugget of wisdom, a question once posed by his father: "What were you panicking about this time last year?" With a knowing smile, he mused, "You'll probably not remember, because it’s likely been solved. This sets the precedent for your mindset today." It’s a perspective that underlines the transient nature of challenges and the resilience of the entrepreneurial spirit. For those eager to connect with Fred and learn more about his journey, he can be found actively engaging on LinkedIn and through his various business platforms, always ready to lend an ear to fellow entrepreneurs navigating the exciting yet solitary world of startups. His parting sentiment was an offer of camaraderie in an often solitary journey, a testament to the community spirit that Fred not only preaches but actively practices.
