Building Mi-Co hasn’t been a ‘hard slog’ but a mission, says CEO

RESEARCH TRIANGLE PARK, N.C. — Greg Clary, the technical wizard behind Mi-Co, is passionate about the company’s mission, not just its technology. To me, that’s a lesson any entrepreneur should learn. If you don’t believe in what you are doing, who will?

So many startups are led by execs looking to cash in on an idea and head for the beach or day-trading – or to launch another venture and turn that into more cash. There’s certainly nothing wrong will building businesses and selling. That’s free enterprise.

However, over the years, I’ve enjoyed most dealing with the entrepreneurs who are looking to have an impact on society, not just billfolds.

Clary, the CEO at Mi-Co, is working with his father and company chairman, Jim, to raise venture funding to finance a big expansion drive. And Greg says he remains committed to Mi-Co’s mission of making electronic forms and mobile data-capture easier technologies to use.

I asked Greg recently if the march toward acceptance of his technology had been a long, hard slog? And what advice would he offer other entrepreneurs who are following a similar path?

“Long, yes; hard slog, no,” he replied. “We’ve enjoyed it, and being around for a while means we’re stable and mature, both as a company and as a technology.

“We’ve been in a great position to adapt to and accommodate new devices for both data collection and data display as they hit the market.

“Customers can more rapidly take advantage of end-to-end solutions because the hardware devices make more sense and are in more widespread use than they ever have been.

“As for advice, it’s never easy as a startup. There are always times when you wish you did not have to make choices, but could instead do more things. Our advice to entrepreneurs is to look at the value you can bring and the difference you can make. Sure, you have to have a product or service that makes sense, and you have to have realistic business plans and expectations. But you also need to bolster your dedication for the bumpy ride. The days of silly valuations and rapid cash-outs are gone – and they should be.

“Be an entrepreneur because you believe in something, because you have a dream and a need to create something – to create value. If you want to be an entrepreneur, be one now. This is an uncertain time, and the challenges you’ll face in this market will make you smarter. Be true to the customer, and you’ll create value. Even if you never become the next Google, you’ll have created something lasting for your shareholders, employees, family and yourself.”

That’s advice we all should follow.