Community involvement is of the utmost importance for Matt Paulson, who is an entrepreneur, author, and a private equity investor. On December 26, 2006, he started MarketBeat, a financial news and research software company.
“It’s an ‘overnight success story’ that took 15 years to get off the ground,” said Paulson. “I made a lot of mistakes and learned a lot of lessons along the way, but things have turned out pretty well.”
Perhaps the most difficult ambition so far has been building the startup ecosystem in the area because, as Paulson says, changing how people think about small businesses is a feat in itself. In 2019, he started Startup Sioux Falls.
“There is no shortage of volunteer opportunities in Sioux Falls. I encourage people to get deeply involved in one or two nonprofits that they are uniquely passionate about.” -Matt Paulson
“It’s also an ongoing effort and will take a few more years to develop a fully fleshed out startup ecosystem consisting of community events, founder peer groups, [and more],” he said.
He’s also involved with a handful of other groups like Cresten Properties and Falls Angel Fund. Paulson shares more—from advice to what espresso he drinks in the morning.
WHAT’S YOUR TOP TIP FOR YOUNG ADULTS WHO WANT TO GET MORE INVOLVED WITH THEIR FINANCES?
Put the value of your bank accounts, investments, house, or other real estate, cars, and any other valuable things you own on a spreadsheet. Then subtract out everything that you owe. That’s your net worth, and it should be going up every month if you are doing things right.
WHAT’S SOMETHING THAT YOU THINK IS A DETRIMENT TO PEOPLE ACHIEVING THEIR GOALS?
Everyone has dreams and big ideas, but most people never achieve their goals because they don’t have a good plan and aren’t willing to put in the work. You don’t have to have everything figured out on day one, but you do need to continually make concrete steps toward achieving your goals.
ARE YOU A NIGHT OWL OR AN EARLY BIRD?
Before I had kids, I was a total night owl and would often play video games or work on my business late. I’ve learned to become a morning person over the years and usually wake up around 6 a.m. now. It’s nice to have a few minutes of peace and quiet before children wake up and the workday begins.
DOES A SLIGHT CAFFEINE ADDICTION COME WITH THE LIFESTYLE?
My day normally starts with a latte. I use espresso beans from Queen City Bakery and organic whole milk. I really wanted to be able to create a coffee-shop level latte at home, so I paid up to get the home version of the espresso machine that many downtown coffee shops use.
WHAT’S COMING NEXT FOR YOU?
My future will involve more real estate and venture capital investing. I’ve developed a great partnership with Kevin Tupy to invest in Sioux Falls real estate, and we have purchased more than 20 properties together so far.