January 7th, 2013 by Scott Meyers
After earning a bachelor’s degree in business administration from the University of Michigan’s Flint campus in 1991, Scott Meyers set his sights on working in a large corporate environment. Initially the Indianapolis office of telecommunications company AT&T Technologies/Lucent Technologies. (now Alcatel-Lucent, headquartered in Paris) seemed like a good fit.
“It wasn’t until I was in the working world for a while that I realized I didn’t like people limiting my success by forcing me to conform to the company’s direction,” he said.
In 1994, while still with AT&T/Lucent, he founded Zion Management LLC, a residential real estate investment company, and began buying, rehabbing and selling single-family homes to supplement his retirement.
“It took on a life of its own,” he said.
In 1998 Meyers got his real estate license and a year later he founded Fishers-based Temple Asset Management, the holding company for all his companies. To date, Meyers has purchased, rehabbed and sold 77 single-family homes and four apartment complexes, totaling 186 units and valued at S55 million. He also owns and manages The Brigadier Apartments at Fort Benjamin Harrison, a 72-unit complex, through Brigadier LLC. From 2001 to 2004, Meyers taught classes on how to run a real estate business through the University of Indianapolis and the Central Indiana Real Estate Investors Association, a not-for-profit agency designed to educate investors. He now serves on its board. Meyers said branching out into small business incubation, via the Indianapolis Enterprise Center (formerly the Entrepreneur Business Center), which he acquired and reopened in 2005, was a “natural step,” although a totally unexpected one.
“I was looking to buy an office building for my business,” he said.
“I was searching for a building that currently had other ten-ants to help offset the costs and ran across this facility. During our due diligence, we discovered that it was formerly run as a small-business incubator, and decided that its highest and best use was to return to its roots. So I bought the building and bought myself a job as the executive director.”
Since May 2005, its client companies have created about 200 jobs. Meyers reestablished partnerships between the incubator and U.S. Small Business Administration and Small Business Development Center and joined the National Business Incubation Association. The center has a resource library, shared access to business services and equipment and helps businesses apply for SBA-backed loans. Temple Asset Management offers an internal “micro-loan” program for businesses that don’t qualify for other funding. Since opening the facility, Meyers has added 16,000 square feet to accommodate growth. The center ranked second on 113.1′s list of largest Indiana business incubators in 2007—up two spots from the previous year. The rankings are based on total square footage. Last year Meyers added self-storage to his list of businesses. He owns Alcatraz Storage, which has one facility in Muncie and other locations under construction, and is a partner in Storage Now in Fortville. He considers his major business accomplishment to be self-funding his businesses and the fact that they have survived.
“When you look at the fact that 80 percent of all small businesses fail, survival is probably the greatest accomplishment so far,” he said.
In April 2006, Meyers was invited to serve on the Indianapolis Economic Development advisory board, which acts as a sounding board, lead generator and advocate for the group’s economic development efforts. He is an active budget counselor and leader for Crown Financial Ministries in Central Indiana, a national religious organization, and serves as Crown Financial coordinator for Northview Christian Life Church in Fishers.
In addition to running five businesses and working in the community, Meyers and his wife Christina have three children — Sydney. 6: Gavin, 4; and Ella. 1. They adopted Ella from China in December. Meyers reverts to a tactic from his childhood to make time for family—delegating.
“I think we all get better at delegating as we go along,” he said.
“I keep good property managers in place and I have a very qualified operations manager. Outside of that, it is just working efficiently and only focusing on what is important and what absolutely has to be done and making family a priority.”