Recognize a hurdle and find a way over it. Then, take time to reflect on what created that situation so it can be prevented moving forward. Never allow yourself to become complacent.
Connor Mulvey grew up in the suburbs of southwest Chicago. In his youth, he displayed a strong liking for math and history. He excelled in his studies as early as the fourth grade. In his school, he participated in various extracurricular activities and was the head of the team for the school’s Lacrosse Team. Upon graduation, Connor Mulvey enrolled in Loyola University Maryland where he studied finance, economics, and market trends. He graduated in 2014 with honors and was on the dean’s list.
Upon receiving his bachelor’s degree, Connor Mulvey felt more ready than ever to start his career in the financial industry. He had some connections with very knowledgeable people who worked on Wall Street. As such, he swiftly secured a position as a Junior Associate at The Genesis Group. He has worked there for more than 5 years with plans to move back to Chicago, Illinois, so he can spend more time with his family.
Once back in the Windy City, Connor Mulvey and his father came to the realization that with their combined experience they could offer a necessary service to companies trying to increase their value in the biotechnology and life sciences arena. The purpose of their practice is to provide companies a strategy for bringing their ideas the potential of limitless value.
In his spare time, Connor Mulvey enjoys reading the news, listening to podcasts, keeping himself updated on current events, and working out. He particularly enjoys listening to political debates and often tunes in to these debates on digital video sharing platforms.
Where did the idea for your company come from?
We saw a need for companies that are in the health and life science fields to generate value for their products. As a consulting firm, we don’t have a tangible product. What we do have is an excellent team of engineers with years of experience that can take an idea and create a market. With our assistance, our clients’ ideas can attain limitless value.
What does your typical day look like and how do you make it productive?
My typical day consists of several calls between clients and employees. I get updates on how we are doing with each customer. I maintain a daily log on what hours we are contributing to their growth. I create revenue forecasts, balance our books, and take care of the company’s general accounting needs.
How do you bring ideas to life?
Well, I am not the mastermind behind new ideas. That is done by our great employees. They have backgrounds in science and engineering that is needed to conceptualize the vision that our clients have and help to bring their visions to life. I’m just the guy behind the computer making sure everyone gets paid.
What’s one trend that excites you?
The growth in biotechnologies and life science has been just unbelievable, especially in the last five years. There is no end in sight. As that industry grows, so does our value and the need for the services that we provide. I’m excited to continue to watch this growth.
What is one habit of yours that makes you more productive as an entrepreneur?
I have a relentless tenacity and taste for success. I consistently put our clients’ goals before our own. I feel it’s important to build strong relationships with the companies we work with. Every client, no matter how big or small, is important and they need to feel that they are.
What advice would you give your younger self?
The best advice I could give younger Connor Mulvey would simply to listen to Mom and Dad. They know a lot more than you realize when you’re young.
Tell us something that’s true that almost nobody agrees with you on.
I believe that everyone on the team needs to pull their own weight. If they cannot contribute meaningfully to the team, then there’s no place for them in the company.
As an entrepreneur, what is the one thing you do over and over and recommend everyone else do?
Being self-aware is so important and should be practiced by any entrepreneur. You need to be able to recognize a hurdle and find a way over it. Then, take time to reflect on what created that situation so it can be prevented moving forward. Never allow yourself to become complacent.
What is one strategy that has helped you grow your business?
I think we have implemented several strategies that help with our success. Our marketing has produced excellent results. We build great partnerships with our customers, including several blue-chip companies. When we are meeting with a new potential client, they see some of the existing clients we have and gain more confidence in our techniques. We have internal and external referrals that also help our own growth.
What is one failure you had as an entrepreneur, and how did you overcome it?
I think the biggest hurdle we have overcome is best described as maybe biting off more than we could chew right at the beginning. It was a bit chaotic because the experience we have established with our employees meant companies came looking to work with us and at first, we just didn’t have the manpower. Payroll is one of the biggest liabilities on a company’s balance sheet and we really needed to build up our staff to fulfill the promises we had made. We had to learn how to structure the business in a way that accommodated both our clients and ourselves.
What is one business idea that you’re willing to give away to our readers?
Really, the best advice I have for an entrepreneur stems from our own beginning: the temptation to grow quickly is going to be there. You need to be mindful and use caution when establishing yourself. You don’t want to overwhelm yourself. If you try to please everyone, you end up not pleasing anyone. Just be cautious that you are not trying to burn the candle at both ends.
What is the best $100 you recently spent? What and why?
I recently took a one hour putting lesson to help my golf game. That was definitely worth the cost.
What is one piece of software or a web service that helps you be productive?
Quickbooks Pro is definitely a huge help for me. It allows us to get our books organized before we send it out to our external accountant.
What is the one book that you recommend our community should read and why?
Capitalism and Freedom by Milton Friedman. The general consensus of this book is the link between a capitalist system and how it is synonymous with freedom and liberties. Having the choice on what you want to do and how you provide for your family can only be achieved through a capitalist society.
What is your favorite quote?
Theodore Roosevelt’s “Man in the Arena”:
It is not the critic who counts; not the man who points out how the strong man stumbles, or where the doer of deeds could have done them better. The credit belongs to the man who is in the arena, whose face is marred by dust and sweat and blood; who strives valiantly; who errs, who comes short again and again, because there is no effort without error and shortcoming; but who does actually strive to do the deeds; who knows great enthusiasms, the great devotions; who spends himself in a worthy cause; who at the best knows in the end the triumph of high achievement, and who at the worst, if he fails, at least he fails while daring greatly…
Key Learnings:
● Bring the best in their fields into your company and the clients will follow
● Be self reflective and self aware to avoid repeating hurdles
● Build strong relationships with your clients to gain more business
● Every client is important and should feel that they are
Connect:
Steve (Stefan) Junge hails from Germany and helps with the day-to-day publishing of interviews on IdeaMensch. While he and Mario don’t share a favorite soccer club, their enthusiasm to help entrepreneurs is a shared passion.