A in-depth profile of Dayne Williams, CEO of PlanSource, was featured in The Orlando Sentinel. Text from the piece is below and the full article can be found here.
PlanSource’s Dayne Williams: Entrepreneurs must go ‘all in’
February 14, 2016
Copyright © 2016, Orlando Sentinel
Dayne Williams has been involved in founding two successful companies in Orlando, corporate consulting firm ZeroChaos and PlanSource, which focuses on health-benefits administration technology. Williams, 49, lives in College Park and is building PlanSource with $70 million in venture capital received in 2015. Senior business writer Paul Brinkmann spoke to him about his career.
CFB: You’ve started two successful companies in Orlando that continue to employ hundreds of people, ZeroChaos and PlanSource. Is there a secret to starting a good company that is common to both of those?
It all starts with a driving passion and a good idea. Once you have the right idea, you should never be afraid to hire people smarter than you. They will help you make the right adjustments during the tough times to become a viable company. One of the best pieces of advice I ever received about starting a business came from Jimmy Hewitt, founder of the Magic and several community banks. He told me, “It is imperative to not leave yourself a life raft, and cut all ties to the dock. Every business will have a moment of truth and you must be 100 percent committed to making the business successful.” We had many moments of truth we had to figure out.
CFB: What are the challenges and benefits to hiring in Orlando. Is it a struggle sometimes, and how?
We love being in Orlando. It’s a vibrant community with so much to offer. We are in close proximity to several prominent universities, so we benefit from having a good pool of new grads to recruit. Orlando is not known as a tech hub, however, and is easily overlooked by technology professionals. But as more technology companies come, that perception will change. I’ve had visitors to our office in downtown that are blown away by how much is going on in the city.
CFB: Your current company, PlanSource, is based downtown in the Exchange Building. Why do you like being downtown?
In just the past 10 years, downtown Orlando has made a massive turnaround. There is new life in the city and it’s been incredible to be in the heart of it. New businesses are opening every day, and we love being able to walk out and grab a bite to eat at the many new cafes and restaurants. There is always activity and it doesn’t turn into a ghost town after businesses close for the day.
CFB: How much growth at PlanSource is fueled by the Affordable Care Act? If the Republicans succeed in overturning the ACA, would your business dry up?
Change is good for business. Anytime a deadline for change is imposed on the market, demand is created. While PlanSource has experienced a short-term bump from the ACA’s Employer Mandate, it’s just one piece of what we have to offer.
The demand for benefits administration and human capital management solutions is a longer wave. Repeal of the ACA would not remove the need of employers to automate processes, comply with regulations and control the costs associated with managing their employee benefit plans.
CFB: What’s your biggest challenge in the coming year?
One of the biggest challenges for PlanSource in 2016 is finding and keeping the right people. PlanSource hired 180 people in 2015, nearly doubling in size. While that is a very good thing, it does present some challenges.