Scott Thompson is an award-winning entrepreneur and Founder of Lifematters—a home care service for seniors that has made the Inc. 5000 Fastest Growing Company list 9 times. He bootstrapped a 1,500 person concierge home care service company.
Prior to creating Lifematters, Scott founded a professional employer organization, HR Tech, with $5,000. Six years later, he sold that company when it reached $132 million in revenue.
He’s also invested in many start-up and early stage companies across various industries throughout his career.
I caught up with Scott during our adventure to Antarctica to learn more about how he thinks about building businesses.
You’ll hear how he disrupted an antiquated industry and scaled Lifematters to 1,500 employees before selling. This was a company Scott bootstrapped with $40k of his own money and developed over the course of 15 years.
“When I built the business, every step of the way, I questioned the status quo. If someone said to me, this is the way you have to do things, I’m going to listen and then I’m going to ask, ‘but why? Are we sure about that?’ The reality is, you find that that’s not necessarily true. There are these best practices that industries adopt, and truthfully, it just becomes lazy after a while. And that’s why they get disrupted over time, and quite frankly, lose business. And that’s how I built all my companies.” – Scott Thompson
“The number one thing that we look at, no matter what industry, what company we invest in, without question, without fail, every single time is, who are the founders or who is the management team? Can they execute? End of story.” – Scott Thompson