Rising Star: Nick McCord found his niche

As a student at Taylor University, Nick McCord had a hard time finding a major that fit him. After visiting a counselor, a career test revealed he should focus on entrepreneurship.

“I kind of always knew I wouldn’t want to work for someone else,” McCord said.

He left Taylor University to pursue a degree in entrepreneurship at Ball State University. Even then, he didn’t have thoughts of taking over his father’s business, Garage Doors of Indianapolis.

But during his junior year, his father talked to him about one day running the business. McCord realized that’s what he had wanted all along.

He ended up not finishing his degree at Ball State, because part of the program was to come up with a new business model and plan. Instead, he left school to learn the family business from the ground up.

McCord became president of Garage Doors of Indianapolis in 2011, with the main goal of transforming standard industry beliefs and focusing on learning more about business ownership.

“It’s going to give me the platform to do other entrepreneurial things,” said McCord. “One of my visions is to have a storage unit company.”

Another one of his goals is to change the culture from an “It’s always been done this way” attitude to “We could try this . . .”

“We are re-creating the mission statement. I’m challenging the way things are done,” McCord said. “We are planning for how we can keep evolving our business and the industry.”

How did you manage to stand out in a crowd and advance quickly in your career?

I find myself always thinking of new ideas and/or ways to make existing process better. I never settle for mediocrity, and I never accept an attitude of “It’s always been done this way.”

What was your first job or entrepreneurial experience? How did it affect your future?

My first entrepreneurial experience was when I was in sixth grade. I was watching my classmates raise money for band and choir by selling candy. I decided to buy candy in bulk and sell it for less.

This went on for a month or two before the fundraisers were noticing a loss in revenue and the principal shut me down.

I also lived on a golf course growing up, so I would collect golf balls out of the ponds and sell them to the golfers at the tee box.

I also started and maintained a lawn mowing business in my teens. I had about 10 lawns at my highest point.

What’s the toughest mistake you ever made, and what did you learn from it?

In general, I sometimes wait for too much information to make a decision instead of going with my gut and moving on. At some points you have to trust yourself, make the decision and move on.

How important is it to have a mentor? Did anyone in particular help you advance in your career?

My biggest mentor has been my father, Cecil McCord. He founded Garage Doors of Indianapolis in 1979. He has shown me and given me the tools to lead a company.

As I worked my way through GDI, I learned most of what I know about this company from the employees here. We have some great people here that are happy to teach others and instill confidence in them.

I am also part of a CEO peer advisory group called Vistage International. I am young, so it is great to learn from more experienced CEOs, and it gives me the ability to get different perspectives on my own company.

What advice would you give to other young entrepreneurs?

First and foremost, you better really enjoy whatever it is you are starting.

Treat your employees like your most valuable asset, because they are. Have a vision; know what you want your business to look like in five, 10 and 20 years.

Join a group of other CEOs, because it can be a lonely position.

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