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Darla Moore School of Business

MBA alumnus shares tips for owning a successful franchise with aspiring entrepreneurs

Moore School alumnus Kimico Myers (’05 MBA) has utilized the skills and knowledge that he gained from the Professional MBA program to start his own franchise of a successful national IT company and mentor other entrepreneurs in the Columbia, South Carolina, area.

When Myers began the MBA coursework in 2003, he worked full time at Bank of America and liked the idea of still being able to work full time while pursuing his degree through the Professional MBA program.

“I chose the PMBA program because of its reputation as being one of the top programs in the nation and also because the program provided the flexibility for a working professional, husband and father like me to obtain my MBA,” said Myers.

Myers originally decided to pursue his MBA so that he could advance into a more senior-level position at Bank of America and continue on his projected career path. 

“I wanted to advance into senior leadership at my company at the time and made the decision that pursuing an MBA would help me reach this goal,” he said.

However, after being laid off for financial reasons in 2013, Myers decided that he wanted to use his MBA to pave a new career path for himself. In 2015, Myers became a franchise owner of TeamLogic IT, one of the nation's leading provider of computer support and managed IT services for small- and medium-size businesses. TeamLogic IT was awarded first place by Channel Futures for the 2020 Managed Service Provider 501 Special Awards

“There were several reasons for wanting to start my own business, but probably the biggest was the desire for job stability,” he said. “Being able to call the shots by running my business as I saw best as an owner also factored into my decision. I was confident that I would be a successful entrepreneur and would be able to earn far more money over time. And finally, I believed that in starting my own business, I could build something that I could pass down to my children and grandchildren someday.”

Myers said that he uses the skillset that he gained through the Professional MBA program on a daily basis as he operates and continues growing his business.

“Accounting, leadership, sales and marketing, networking, strategic thinking: I could go on and on,” he said. “I use all of these skills and more to manage and grow my business on a daily basis.”

The skills and experience that Myers attained from his MBA have proven to be instrumental in making TeamLogic IT a successful business. In fact, Myers was appointed to be the Entrepreneur in Residence at the Richland Country Library in February 2020 so that he could share his knowledge with other entrepreneurs.

“During my tenure [February 2020 to May 2020] as the Entrepreneur in Residence at the Richland Library, I had the opportunity to meet a number of amazing people at varying points in their entrepreneurial pursuits,” he said. “My goals as Entrepreneur in Residence were to provide support and mentorship, along with sharing my experiences as a business owner — both good and bad — with everyone that I spoke with.”

While in the Entrepreneur in Residence position, Myers was able to support individuals that were starting their own businesses by teaching them topics that he mastered while in the Professional MBA program.

“The skills that I learned through my PMBA program were directly relatable to the assistance provided during my time as Entrepreneur in Residence,” he said. “For example, I discussed accounting in a number of sessions, reviewing basic accounting statements such as balance sheets, income statement and cash flow statement, along with explaining the purpose of each statement and how they provide an overview and condition of a business.”

Although COVID-19 forced Myers to cancel several in-person programs that he had scheduled, he was still able to mentor the entrepreneurs via teleconference or phone call instead of meeting at the library.

Myers said that he’s grateful to have had the opportunity to share his knowledge that he gained from the Professional MBA program to assist others who also hope to one day open their own businesses.

-Claire McGrath

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