Craig Fuller: In 2014, I left TransCard, and it wasn’t on my own accord. You actually went to University, studied business, entrepreneurship, also did your Master’s Degree, and you also worked for the family business.
You’ve got to think about what VCs do. I really got a lot of pertinent knowledge even though I was a teenager. If you do, I can’t help you, but I’m willing to let you intrapreneurship-side this business inside of my company.” I think my dad thought I would fall on my face. Throughout his 27 years of experience, Fuller has architected, deployed and managed cutting edge Networks, Security Systems, Facility Management and Aviation Operational Systems globally. : It was TransCard. But my dad thought it would be an experiment and a lesson for me. I think that has enabled me to become a much more effective founder and entrepreneur because I know what I’m working for. He didn’t put the money into a bank account, unlike an investor does, where the founder decides how that money is spent. So, more structure.
So, I left the city and moved to Dallas.
He writes big checks. The problem was that it took me too long to figure out that you needed distribution or you needed community. One was his biological son, my father, and one was a stepson, my uncle, and they went on to start two very large trucking companies. I’m tired of the way you’re handling it” versus directly handling it. Hello everyone, and welcome to the DealMakers show. : I would say the successes of these businesses are all about distribution.
We’re growing 200% year-over-year, and we’re scaling quickly. Because I had good credit, Bank of America extended me $50,000 of credit line for zero. The original idea was to create a futures market based on trucking. That can destroy not only your business decisioning but can also destroy your relationship. I went to my dad and my dad’s company when it was public, and I said, “I want to start a business based on on-demand transportation.” He sort of patted me on the head and said, “Well, I’m a CEO of a large corporation, and you can’t go start this business that competes with mine. I’m tired of this business.
That was difficult because you’re dealing with this emotion of your dad doing the things that dads do when you’re a kid when you have to ask for privileges or ask for an allowance. Effectively, I got ousted or fired if you will. His comment to me was, “Your family is doing really well, and you’ll do well.” The assumption or the comment he was making was because my dad and I – I didn’t own a lot of stock in the company. I used that $50,000 credit line to fund the starting of this business.
My grandfather was a pioneer of the long-haul trucking industry in the 1960s and built a patriarch of long-haul trucking. So I had a decade-worth of experience, and I was 24 years old when I left the family business. Chattanooga is a big, outdoors town. : How did you get into all this entrepreneurial and business-type of drive? Well, Craig, thank you so much for being on the DealMakers show today. I thought, “Why isn’t there one on trucking? Now, private equity/growth equity, for them, with a 3x, 4x, 5x return, they try to minimize their losses.
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