Updated: Jul 3, 2020
Tell us about who you are and a little bit about your background?
I’m Samuel L. Thompson III and I was born and raised in Northern California. I was born in San Francisco and grew up in Hayward, CA. I’m married and a father of three amazing young minds. One son and two daughters. I’m a man of faith and I’m in my faith daily.
Tell us about your business. What services do you offer?
My company is called Sync Meeting Management. We are a full-service event planning company. We specialize in helping our clients from the planning stage through the actual event. We offer assistance with Group Travel, site-selection, sourcing, and event planning/consulting.
When did you decide to start your own business and why?
Me and my business partners started the business in October 2015. We felt we could educate our clients while providing protection with our event logistics expertise.
In addition to our expertise, there was a lack of diversity in the industry and I wanted to change that, while bringing two decades of hospitality experience to the table.
What would you say is the secret to a successful business?
Building the right team from the beginning. Have humility in your business model and plan. Not growing too fast to where you cannot meet the demand. Never over promise and under deliver.
Have you ever felt like you wanted to give up?
The first two years were a very humbling process for us. We had a partner leave us after the first year and I started to question, did I make the right decision in being an entrepreneur? We could not land the big fish accounts our first year and we were surviving on small programs at first. However, with transition comes change and with change comes growth.
What was the biggest challenge that you have experienced owning your own business?
Learning how to simplify things. I’m very analytical and sometimes I get in my own way with my train of thought. Learning how to sell your own business that seems clearly defined is not always the case.
Have you ever experienced negativity from those closest to you? family or friends?
How would you encourage those who are experiencing negativity to power through?
Well before I started my business, I prayed and consulted with family and my closest friends. To my surprise, my own mother told me not to do it. She was worried I would fail, while everyone else knew I would be a success. So I took a lead of FAITH! It was through Faith I have received my biggest blessings. Trust in the LORD and not in people. We are all on our own journey and you have to walk on your own sometimes so you might as well Trust GOD since he knows where you are headed.
What are your future goals regarding your business?
Future business goals are to remain a small business with roughly 20-25 employees. I wanted to remain small and intimate with a good work and quality of life balance. Grow to 100-125 clients spread amongst the 25 of us. Commanding revenue’s that gives each of us a healthy and financial portfolio. We also want to produce enough revenues where we can impact our communities and grow a platform to sponsor diversity in the industry and introduce to the next generation of event professionals.
What advice would you give new business owners?
Build the right team and be very conservative in the first two-three years of your business spending. Set realistic goals so you have progress that promotes confidence in your business model.
Are there any success quotes you’ve adapted that you now live by that you want to share to encourage others?
Many fail at what they don’t want to do, so you might as well try something you would love to do! You won’t learn how to fly until you really try!