Entrepreneur of the Year: Zig when others are zagging — and don’t be afraid of the word ‘no’
October 13, 2022 | Nikki Overfelt Chifalu
Bold strategies helped lead BacklotCars to one of Kansas City’s biggest-ever startup exits, said Justin Davis, and ultimately brought the lauded founder to the stage Wednesday to accept one of UMKC’s Entrepreneur of the Year honors.
Justin Davis, BacklotCars, receives the 2022 Kansas City Entrepreneur of the Year award
“Taking ‘no’ for an answer wasn’t an option,” the co-founder and CEO of BacklotCars, a web-based, dealer-to-dealer automotive platform, told a crowd gathered at Plexpod Westport Commons. “I remember when I told my idea to people, and they laughed at me because it had never been done. And what did I do? I — with my team — proved them wrong. … It’s important to zig when others are zagging and it’s just so important to think differently.”
Davis was named the Kansas City Entrepreneur of the Year during the University of Missouri-Kansas City’s Henry W. Bloch School of Management Entrepreneur of the Year awards, which also included honors for an international and student winner, as well as an award for social entrepreneurship.
”Don’t ever give up even though people will tell you you’re wrong and you will fail,” Davis said, “But you won’t.”
He founded BacklotCars in 2014 with Ryan Davis, Josh Parsons, and Fabricio Solanes. In fall 2020, BacklotCars posted a then-record $425 million exit, selling the Kansas City-headquartered auto platform to KAR Global.
Click here to learn more about BacklotCars’ exit.
Justin Davis, BacklotCars, speaks during the University of Missouri-Kansas City’s Henry W. Bloch School of Management Entrepreneur of the Year awards
Davis has had a lot of practice with not taking no for an answer, his father, Bob, pointed out in a tribute video. The honoree started doing it when he was 3.
“Anyone that knows Justin well knows that there is one thing about Justin and that is he doesn’t like being told ‘no,’” his brother and co-founder, Ryan, concurred. “Justin’s the type of guy who — when he’s told ‘no, you can’t do that’ — he goes and does it 1,000 times over. I think, in the context of this award, that’s what really sets him apart.”
To be an innovator, not an imitator, Davis said, you have to be willing to fail fast and learn faster.
“It’s not always making the right decision on the first move,” he explained. “It’s about how fast can you fail and learn from those mistakes and then course correct and make another move.”
Justin Davis poses with family members and the BacklotCars team during the University of Missouri-Kansas City’s Henry W. Bloch School of Management Entrepreneur of the Year awards
On top of boldness, Davis said, teamwork is also important.
“I think entrepreneurship is about bringing an unlikely group of people together and building something special and being vulnerable and putting it all on the line,” he explained.
He made sure to first thank his family and friends, his BacklotCars team, and investors.
“While I’m the leader of BacklotCars, it’s really about teamwork,” he explained. “I think it’s so important to have a community that supports you.”
Kansas City, Davis continued, is a growing and maturing entrepreneurship community.
“I challenge us, as people in the community, to continue to support entrepreneurs and young business owners, to push them outside of their comfort zones, and start something great,” he said. “Because great things can happen and the support of the communities is really, really needed.”
Also during Wednesday’s event, David Steward, founder and chairman of St. Louis-based World Wide Technology was honored as the Henry W. Bloch International Entrepreneur of the Year; Jay Coen Gilbert, Andrew Kassoy, and Bart Houlahan, co-founders of B Lab Global were given the Marion and John Kreamer Award for Social Entrepreneurship; and Tate Berry — a senior in business administration and jazz studies — was named the UMKC Student Entrepreneur of the Year.
Click here to see past winners.
Featured Business
2022 Startups to Watch
stats here
Related Posts on Startland News
KC Black Owned’s fall summit returns this weekend with corporate backing, tools for Black entrepreneurs
A summit planned for Saturday at the Kansas City Convention Center aims to inspire Black business owners and equip them with the resources, strategies, and connections needed to thrive in today’s competitive marketplace. The Global Strategies Summit for Market Innovators — organized by KC Black Owned — is deeply rooted in its founder’s drive to…
This Midtown pizza shop sliced through challenges, topping years of popup work with grand opening
Orange By: Devoured — the flagship pizza shop from Jhy Coulter — is finally ready for the public, she said, after enduring years of pop-ups to keep the dream alive, renovations, and the closure of business lending platform Mainvest that took founders by surprise. “I am tired — I’m exhausted,” Coulter said with a laugh,…
Exited founders: Face the tough conversations first; avoid a messy post-honeymoon breakup
Preparing for an exit begins with co-founder alignment at the startup’s launch, three veteran Kansas City founders agreed. “You are getting married to your founders,” explained Tony Caudill, who co-founded two tech startups with his best friend — including aware3, which was acquired in 2018 by Nelnet. “Just like when you find your mate of…
Hy-Vee’s small biz competition sends Midwest entrepreneurs racing for $50K checkout; Here are the winners
BaKIT Box, a Chicago-based subscription service offering baking kits inspired by diverse global cuisines, took home the $30,000 grand prize at the 2024 Hy-Vee OpportUNITY Inclusive Business Summit. Shelley Gupta, the founder and CEO of BaKIT Box, was thrilled to receive the grand prize, she said. “It feels incredible,” Gupta said. “I flew here last…