Ryan Thompson

Owner and Operator of Tower Moving

A commercial and residential moving company located in the Durham region and servicing the GTA. Ryan opened for business in 2014. We recently sat with Ryan and asked him to share some of his experiences in getting started in business! Grab a coffee and enjoy!

Why did you think you wanted to be an entrepreneur?

I was at a cross roads in my life, and trying to decide what I was going to do. Continue playing professional football, go back to school or start a business. I decided I wanted to start my own business as I felt most passionate about running my own business. I was not scared about getting started and jumped right in. I had also worked in the moving industry before and saw that there was an opportunity for me to be in this industry and to have the autonomy to start my own business and manage it the way I wanted to. It just made sense for me, I saw an opportunity and felt that this was a good business to go into after completing my market research.

How did BACD help you get started?

Through coming here, BACD has been like a mentor and a coach for my business. We meet regularly and discuss many different topics such as marketing, my financials and budgeting as well as the sales process. I also take advantage of the connections, referrals and resources that BACD has to offer.

What has worked for you in marketing your business so far?

Building strategic relationships with businesses that help refer business to me. Direct Mail to my target market as well as Social Media.

What advice would you give to someone who wants to start their own business?

You have to educate yourself on the type of business you are planning to get into, really know the ins and outs of that business as well as the industry because you will learn more about running the business. You will be very busy marketing, learning about financials, logistics, customer service etc and therefore knowing the business makes it easier to focus on running and growing the business.

What was more difficult than you thought it would be?

I thought my sales would increase on an even trajectory and that’s not the case at all! Know that your business plan changes, often sales are slower to start than you originally forecast, be prepared for that to happen and don’t be discouraged, keep going!

Has technology impacted how you conduct business?

Technology has allowed me to run a pretty lean operation, it allows me to be mobile, automate my processes and be more efficient in my business.

Do you have any employees? How many?

I have about 6 employees I call when needed for different moves. I treat my employees how I want to be treated because having good employees who have excellent customer service skills and are presentable is very important. They are an extension of my business brand and reputation and I think that is often overlooked in business in general.

What do you do to keep abreast of the changes in your business and in your industry?

I subscribe to different industry newsletters and business blogs and I like to read different magazines and articles such as Entrepreneur magazine. I also research different industries so that I can see if there are any opportunities or practices that I can bring to my business.

What is the future for this type of business?

It’s not a business that can be outsourced! I like to get feedback regularly from clients and my team to see how we can improve our service and process – being more efficient gives us the ability to have more clients and creates bigger profits.

What would you tell someone who wants to start their own business?

Like Nike says… Just do It!

Whom do you seek advice from for your business?

I get advice from BACD, my Futurpreneur mentor, friends and peers in the moving industry.