Seven Questions for Tom Burgess

Interview by Amanda Repose


Tom Burgess CEO of Linkable Networks has successfully launched four companies out of Newport, Rhode Island. Tom is the true definition of an entrepreneur and offers some great insight about starting a company, valuing family and the people surrounding you, and the thrilling journey of an entrepreneur.

Tell us about your background growing up.
“I grew up all over New England and went to Providence College. I met my wife in Rhode Island, who has lived here her whole life. We’ve traveled around the world but always come back to the Ocean State. For one, we love sailing and two, Rhode Island has such a strong Italian heritage built on family. That is why we love it here.Tom BurgessI’ve launched four companies since 1994 and they’ve all been launched out of Newport, Rhode Island. –Isn’t that crazy! They have all been in the advertising industry. The first couple culminated in the founding of Third Screen Media, a mobile advertising technology company, launched in 2001. It grew very quickly and was acquired in 2006 by AOL. The issue back then was Rhode Island did not have the very robust investment community that it does now so we had to move the company to Boston. Linkable Networks, my current company, also launched in Newport and then moved to Boston still has a solid core of Rhode Island based employees.”


What was the first business that you started when you were younger?
“This is really goofy but when I was younger I asked my father to buy me a John Deere lawn mower. I drove around my town cutting lawns and my father made me pay him back. At the time, I had hundreds of dollars invested into this lawn mower. My father and I had a big discussion and we put together a plan in terms of how many yards I needed to secure in order to pay him back; that early business venture taught me volumes about running my own shop.”

Tell us a little more about your current business, Linkable Networks.
“We are what is known as a shopper attribution company. We began Linkable Networks to solve a problem. It’s a formula I’ve developed over time where I find problems in large industries that can be solved with advertising dollars. In particular, Linkable was created to infuse advertising dollars into the payments industry.

“We see ourselves as the founders and entrepreneurs that have built the first version of the standard in the industry. Who we are in 5 years – that starts today. We take it as it comes.”

We saw a trend happening, the collision of the advertising world and the payments industry. When you and I swipe our credit cards to pay for something banks charge the retailer a toll called the interchange fee. There’s been an ongoing battle between retailers and banks regarding the cost of that interchange fee. Linkable created and patented a software solution that allows a third party advertiser, or Consumer Package Good Brand (CPG) to fund or offset that interchange fee. In return, the CPG is able to close the shopper attribution loop by receiving data that confirms what advertising is driving consumers into the stores to buy their products. It’s a win for both the retailer and the CPG.”

What is your vision for your company?
“We’ve solved a very big problem in the industry and we see our business scaling quickly. We see ourselves as the founders and entrepreneurs that have built the first version of the standard in the industry. Who we are in 5 years – that starts today. We take it as it comes.”

Give us three tips for potential entrepreneurs thinking of beginning their journey?
“I have very specific points here:

  1. If you want to be or think you want to be an entrepreneur, go work for one. Find an early-stage start-up needing help. Try to bring something to the table. Dive in, get completely immersed. See if you understand it, learn from the process so you can start your own company with the knowledge needed for success
  2. The other piece, sell a prototype before you build anything. Don’t build and expect people to come. You may sell a prototype, or a mock-up, or slide-ware; sell the idea and if people buy it then build it.
  3. Lastly, don’t fall into the trap of doing one thing and doing it well. This is probably my biggest pet peeve. So many businesses fail because they don’t adapt. That is a very strong belief of mine. In order to succeed you need to adapt.“

What have you learned most about yourself in the process of growing businesses?
“I need help! That is likely one of the biggest challenges for an entrepreneur… We are confident and we want to do everything ourselves. I have been very fortunate to surround myself with fantastic people that have helped me along the way. You cannot underestimate the value of great partners, employees, investors and the support from your family. My wife and I co-founded our first company so she knows the game plan first hand. I even bring problems home to my kids. I lay out the business problems and let them solve it over a period of time, then return to my business with their feedback. At Linkable I’ve surrounded myself with experts in our field. I don’t like to settle; I want the best. They’re not always easy to find but the extra effort pays off in the end.”

Do you have someone you model?
“The entrepreneur I admire most is Richard Branson. His persistence, refusal to accept failure and outrageous success is awe inspiring.”

 

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