July 1, 2012

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Around Utah



Tori Baker: Leading Lady of Salt Lake’s Art House Theater

Mark Meadows: Enjoying the Journey

Legal Briefs
Business as Usual—For Now

Money Talk
Funding Your Dream

Economic Insight
Summer Reading

Lessons Learned
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Get Found

Know Your Options

Business Trends
Forging a Career

Living Well
The Need for Speed

Utah’s Alcohol Problem

Ernst & Young Entrepreneur Of The Year

Capital Gains

Editor's Note
Utah’s Tech Industry is Booming

Special Section
Meeting & Event Planning Guide

Industry Outlook
Technology Industry Outlook


Ernst & Young Entrepreneur Of The Year

Candace Little

July 1, 2012

Kirk T. McGary
CEO, Real Property Management

“Our dramatic growth is a reflection of a lot of hard work from a lot of good people throughout the U.S.,” says Kirk McGary, Real Property Management CEO. “We just happened to see the vision many years ago and provided good people with good opportunities.”

His company’s success also came by paying his personal mortgage on credit cards two months in a row—something McGary admits is not the best strategy, but as a young company it was a way for him stay competitive, build sound processes and hire strong talent. Those sacrifices and risks paid off.

Within three years of opening, Real Property Management was arguably the top property management company specializing in single-family rental homes in Utah. Four years later it was franchising throughout the region, and now—after 25 years in business—has more than 200 offices in the United States and Canada.

Larry Stevens, President, CEO and Co-owner
Brent H. Allen, Executive Vice President and Co-owner
Med One Capital

Brent Allen and Larry Stevens have known each other for 47 years. Friends first and business partners second, they started Med One Capital in 1991, where they filled a need in the medical equipment leasing and acquisition industry.

Allen says being an entrepreneur is rewarding. “For the first time in my life, I discovered that I loved my job…it has been the greatest experience of my life.”

At one point the company was on the verge of collapse, but the two leaders found another form of funding and a banker who believed in their business, and as Stevens says, “Fate was kind to us.”

Stevens describes what motivates them to work through challenges, big or small. “We understand that behind the dollars and cents of each deal are people who need proper care. The lives that we touch continue to provide the greatest motivation to continue pushing forward.”

Jeff Smith, CEO
Kevin Plumb, President
Ingram Medical

Jeff Smith likes this quote from Warren Osborn: “Successful startups typically take 3X the time, 3X the energy, 3X the capital and are 3X more difficult than you might expect. If you knew in advance how hard it would be you would not likely do it. If you knew in advance how rewarding it would be and how much you would learn and grow by it, you would likely do it.” This is a lesson Smith has learned many times since he has launched, run and sold many businesses. The first business he and business partner Kevin Plumb acquired was sold for 29 times the return.

Smith and Plumb started Ingram Medical (first called Medsource RX Pharmacy) in 2008, distributing diabetic test strips and meters. Today, the company supplies to more than 45,000 patients every month at a competitive price. Ingram Medical plans to expand its product line into markets beyond diabetes, such as catheter supplies and wound care.

Garett Robertson
CEO, Deseret Health Group

Deseret Health Group was founded in 2006 and currently manages 24 long-term nursing facilities in Utah, Kansas, Minnesota and Nebraska, and employs more than 1,300 people. CEO Garett Robertson, who first joined the company as a financial analyst, furthers the company’s goal of converting distressed nursing homes into fully functioning facilities that offer first-class care.

Robertson says one thing that has made him successful is always planning for the worst. “If you do that, you don’t need to worry, you just need to make a decision as to whether or not you think the risk is worth the reward and then work hard to avoid the worst case and make the best case happen.”

One thing Robertson has learned is, “You could work yourself crazy if you really wanted to. There is always something else to do, so organizational skills are about as important as anything.”

Brad Caldwell
CEO, SecurityMetrics

Brad Caldwell built a company from scratch that takes on the challenge of securing the payments industry. Caldwell admits that the unknown was scary, but he says that’s what business is about. “I’ve stuck with SecurityMetrics long enough to build out all the systems, products and procedures I was afraid of in the beginning. Future business always means additional unknowns to conquer.”

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