Clemson Entrepreneur of the Week

James L. Speros

Chairman & CEO, The Velocity Group, LLC

B.S., Recreation and Park Administration, 1982 


What role do you play in the entrepreneurial ecosystem?


My role of an entrepreneur has been as a Founder and CEO. I have spent my career building things: teams, brands, and businesses. In my opinion, that is what entrepreneurship is really about. I have been involved with over a dozen start-up companies, three of which I took public. These ventures were in sports entertainment, technology, real estate and restaurant and hospitality industries. My expertise is in the formation, funding, and management of these start up enterprises. In each of these companies, I have had the opportunity to create a culture of family and teamwork. An example would be my restaurant group that not only delivered great food and memorable experiences for our customers but also created both local jobs and incredible community connections. I believe in mentoring young leaders, investing in people and sharing the playbook that has helped me succeed.



What are some of your best memories of your time at Clemson?


Clemson truly shaped me. As a former football player for the Clemson Tigers, nothing compares to running down the hill before a game in front of a packed, sold-out stadium at Death Valley! The band playing “Tiger Rag”, the crowd cheering, thousands of balloons in the air and the smell of the smoke from the cannon after being shot off. The energy was electric! The camaraderie with my teammates and coaches, and of course, the football culture…all of that pushed me to compete harder and lead better. Oh, and tailgating with family, friends, and teammates after the games wasn’t too bad either!



What were the key inflection points in your career after you left Clemson?


After Clemson I was fortunate to build a career that combined my passion for sports, marketing and leadership. My time in the NFL with the Washington Redskins and the Buffalo Bills taught me how to think big, move fast and lead under pressure. The most significant inflection point in my career occurred in the hospitality arena during the chaos of the pandemic – COVID 19, in March 2020, and how I had to adapt to keep my Velocity restaurants and hospitality company operational. I had multiple restaurants with over 400 employees, and lease commitments and mortgages in real estate tied to my restaurant operations. A government mandate was put into action in Virginia requiring all restaurants to follow new guidelines and procedures and adhere to strict limitations on the number of patrons and staff allowed in the restaurants at one time. Overnight I lost 90% of my revenues to operate my business. I had to pivot, and fast. Within 30 days I adjusted from a primarily dine-in business model (with all restaurants combined, served over 15,000 dine-in customers per week), to a primarily take-out and delivery business model. I changed menus, the employees learned new roles and had to multi-task, I created new marketing plans, and I had to renegotiate contracts with landlords and banks. Fortunately, I had long term relationships and a good track record with these people, enabling me to negotiate new terms, giving me the flexibility to work through this confusion.


Within six months I was able to stabilize the business, building it back to profitability. Throughout this bazaar set of circumstances, where our country was shut down and companies suffered, many eventually going out of business, my organization was able to sustain through the disorder. Most importantly, I was able to retain nearly 100% of my employees. It took hard work, innovation, and new partnerships with companies like Grub Hub, Uber Eats, and Door Dash which ultimately became a significant revenue stream to our company, changing my restaurant business model forever.



What are your personal and professional dreams?


Personally, my dream is to become a published author. I am currently working on a manuscript that tells the story of how I was able to acquire, fund and build two championship professional football teams, the Baltimore Stallions and the Montreal Alouettes, with the Canadian Football League from 1993-1997. My goal for this project is to take the reader on a journey from improbable to success! I had a vision which I cultivated, was able to execute and achieve. The process of telling my story has been a labor of love!


Professionally, I am a serial entrepreneur who loves creating and developing new businesses. I’ve been blessed with mentors and opportunities, and I believe it’s my responsibility to pay that forward. I also look at myself as a “manager of people and concepts.” With the variety of businesses that I’ve owned and operated (professional sports teams, real estate, technology, and restaurant & hospitality) I would like to be able to share the “highs and lows” and “do’s and don’ts” of my experiences. One constant in my journey is that I have always led by example. Don’t demand from your employees anything you aren’t demanding from yourself.



What would you recommend students do to maximize their remaining time at Clemson?


This can be taken as a two-part question:


Personally, I would tell them to enjoy what Clemson has to offer outside of studies. Enjoy your friendships, seek out all the resources…hiking, boating, biking, kayaking, clubs and socials, athletic events, concerts, etc. This remaining time at school won’t ever be repeated, so take advantage of your youth while you can.


Professionally, I would strongly recommend students work in a service industry, if possible. You will learn customer service and people skills that can’t be taught in class. It’s ‘on the job training’. Also, be curious. Be relentless. And surround yourself with people who challenge you. Clemson gives you access to incredible resources: professors, alumni, and a network that genuinely wants you to succeed. Use them. Ask questions. Get uncomfortable. The habits you build in this life: discipline, teamwork, and the drive to compete will carry you through every chapter of your career.



What else should we know about you?


At this stage of my life, I am very blessed to have more time to spend with my family. My wife Ellen and I have three children: Jimmy, Alexa and Justin. Jimmy and his spouse Farah have two children, Sophia and Leo and live in Northern VA; Justin and his spouse Kaycie are both Clemson graduates and live in Charlottesville, VA and Alexa lives and works in Northern VA. I enjoy boating, golfing, traveling, working out and going to various sporting events. At my core, I’m a competitor who loves people. Whether it’s on the field, with my team, or in a restaurant dining room, I care deeply about culture, connection, and performance. I’ve lived my life believing that leadership is service. You show up, you listen, and you lift people higher. I love being an entrepreneur and the Sports Entrepreneurship Symposium of the Brook T. Smith Launchpad gives me the ability to give back to students at Clemson University. GO TIGERS!!


Share Jim's story with others by copying and pasting the following link:

https://conta.cc/48YUc3Q


IThe Brook T. Smith Launchpad, Clemson's entrepreneurship hub, promotes and fosters Entrepreneurship & Innovation across Clemson University. 


Through our research, teaching, and service activities, we impact approximately 2,000 faculty, staff, students, and alumni every year.


To learn more, reply to this email or click here


For daily and weekly updates, follow @clemsonentrepreneurs

and alumni every year.

Brook T. Smith Launchpad | 716.998.6000

390 College Avenue, Clemson, SC 29631

Facebook  Instagram  LinkedIn  Web  YouTube