Thomas Eide – Founder of PaidThx

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Thomas Eide - Founder of PaidThx

I wouldn’t do anything different. However, if we were to start again, I’d bet everything would be different. I love every minute of the adventure. 

Mr. Eide graduated from Virginia Tech with his Bachelor of Science in Physics. Mr. Eide worked as an engineer out of college before founding, growing and selling two high tech companies. The later company, Connect Me Services, integrated cutting edge high-speed Internet solutions and Voice-over-IP telephony services years before gaining its now-popularity. Prior to founding PaidThx, Mr. Eide served as President of VIP Development, where he successfully developed numerous student housing projects at some of the top tier universities through the worst housing crisis in history. Mr. Eide’s vision, entrepreneurial drive, technical prowess, corporate and team management, financial achievements in both local and national markets and his expertise in mergers and acquisitions combine to produce a veteran leader for PaidThx.

After speaking with his pastor, Mr. Eide realized that churches and other non-profit organizations were losing donation dollars because people were no longer carrying cash or checkbooks with them. PaidThx formed because of the need to give money easily and quickly. While he was familiar with pre existing mobile payment platforms, he knew PaidThx would be different because it’s free–no fees, no charges–and would also help people donate to the organizations that they love.

What are you working on right now?

PaidThx has been invited to several events over next few weeks and I work with my team on the final details of these presentations. Creativity is fun but execution takes teamwork and a whole lot of effort.

Where did the idea for PaidThx come from?

After speaking with my pastor, I realized that churches and other non-profit organizations were losing donation dollars because people were no longer carrying cash or checkbooks with them. I then decided that I wanted to create a tool that could be used to transfer funds to other user users and organizations easily. In these times, many don’t leave the house without their mobile phone, so why not create a tool that can accessed from a smartphone?

What does your typical day look like?

I start early reading on trends and opportunities for PaidThx. Before I get going every day, I use PaidThx just the way all of us will, constantly looking for ways to make PaidThx better.

How do you bring ideas to life?

The PaidThx team always comes first. The best ideas come to life after a team comes together.

What’s one trend that really excites you?

Smartphones are breaking into markets domestically and around the world to serve less fortunate–think of the possibilities and opportunities smartphones extend from education to finance.

What was the worst job you ever had and what did you learn from it?

Painting. No matter how hard I try, I can never get it perfect. I have a real respect for painters!

If you were to start again, what would you do differently?

I wouldn’t do anything different. However, if we were to start again, I’d bet everything would be different. I love every minute of the adventure.

As an entrepreneur, what is the one thing you do over and over and recommend everyone else do?

I’d work on our business. Planning is key and the minute you stop, you’re not an entrepreneur anymore.

What is one failure you had as an entrepreneur, and how did you overcome it?

I once succeeded in appealing the decision of a local government office. The same office I would have to work with following the appeal. What was I thinking? In the end, I threw my pride in the wastebasket and begged.

What is one business idea that you’re willing to give away to our readers?

Ever need a trailer, pressure washer or other piece of machinery? Everyone does at some point. Why isn’t there a website that lets me rent and insure one from one of my neighbors for a fraction of the cost? I’d sign up to make extra income. Someone needs to start this company and make it big. I’ve got my hands full.

If you could change one thing in the world, what would it be and how would you go about it?

I’d end abortion as the only option for young mothers-to-be that were embarrassed, ashamed or worried they couldn’t care for a child financially. I’d start a study-abroad program where these expecting mothers could receive health care, spiritual encouragement, education, nutritional and physical fitness support before joining an adoption program for their child.

What are your three favorite online tools or resources and what do you love about them?

Google, but let’s face it you can find anything on there. Facebook because I like to stay in touch with my friends and family as often as possible. And lastly, Pymnts.com so that I can stay informed with the industry and see what other brilliant entrepreneuers are cooking up.

What is the one book that you recommend our community should read and why?

Atlas Shrugged. Ayn Rand may have written this for women’s rights but it certainly speaks to every entrepreneur .

Three people we should follow on Twitter and why?

Me of course @Thomas_Eide.

@danieltosh – sometimes we need to laugh at ourselves and if that doesn’t work he finds videos of people we can laugh at. And then there’s @rickwarren – he’s just a downright inspirational guy!!!

When was the last time you laughed out loud? What caused it?

You have to see this for yourself. http://www.youtube.com/watch?v=pSucf1EO1kM This is one of my good friends and PaidThx founders James Rhodes. Well done, James.

Who is your hero?

John Carpenter, the first winner on Who Wants to be a Millionaire
http://www.youtube.com/watch?v=AeqPJojGqxc

What would you do if you knew you could not fail?

I try to remember that nothing is out of reach or impossible as long as you just go for it.

Connect:

Thomas Eide on Facebook: https://www.facebook.com/ThomasEideVT?fref=ts
Thomas Eide on LinkedIn: www.linkedin.com/in/thomaseidevt
Thomas Eide on Twitter: https://twitter.com/Thomas_Eide
Thomas Eide on YouTube: http://www.youtube.com/user/ThomasEideVT?feature=watch
Thomas Eide on Tumblr: http://thomaseide.tumblr.com/

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