You can't run a successful business if you're not a good leader, an Albuquerque entrepreneur said.
"If you want to start a company, want to be an entrepreneur, it really is all about leadership," said Jim McNally, CEO of TruTouch Technologies.
McNally spoke to about 40 students Friday at the Anderson Schools of Management.
McNally said he wanted to share his experiences, good and bad, to help students make better-informed decisions as they enter the business world.
That sort of information would have helped him when he was in school, he said.
"The experience of developing a well-thought-out business plan and the exposure to professional investors - venture capitalists - would have been invaluable to me," he said.
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His company, TruTouch Technologies, developed a device that can determine if people are intoxicated by scanning their hands.
"I was motivated to start TruTouch because we had a technology that can positively affect a very serious public health and safety problem - alcohol abuse on the roadways and in the workplace - and the opportunity to create strong franchise value in the company," he said.
McNally said he works for his employees - not the other way around.
He said students should be self-confident when starting a company.
"Don't do it on a whim. Don't do it because you can't find another job, and don't do it if you want to be your own boss," McNally said.
McNally is the fourth speaker to address students as part of UNM's Technology Business Plan Competition.
The competition asks students to create a business plan to compete for more than $100,000 in prizes.
Student Matthew Behm said he has been to every speech so far.
"I try to stay involved and participate in all seminars," he said. "I get to meet some really cool people."
Senior Brandon Schoen said he attended because he is interested in learning about starting a business.
"I always love listening to entrepreneurs," he said. "Seeing how he presented was interesting."
