A Q&A with Chuck Sheldon, Donor

Our department had the recent pleasure of sitting down and chatting with Chuck Sheldon. He and his wife Missy have been donating to UCSB and our New Venture Program for years. Read the following interview to learn more about his background, what brought him to Technology Management, what he’d like to tell burgeoning entrepreneurs, and more!

A Brief Introduction to the Sheldon Family

Chuck and his wife Missy have provided unerring support to UC Santa Barbara for years, with Chuck specifically devoting a large share of his attention to the New Venture Program in the Department of Technology Management. Chuck and Missy are both passionate about the power of innovation and entrepreneurship, and aim to inspire students to gain business experience through access to a practical education. 

Early in his career, Chuck worked for IBM in sales and sales management in various locations, and Missy taught elementary school as they moved across the country. Eventually, they chose to settle in Hermosa Beach, CA, where Chuck started his entrepreneurial journey with various startups. Both were active in the Hermosa community as they raised their two children. Chuck was a coach of youth sports, started the Youth Basketball Program, served on the Planning Commission, and was elected to the City Council and served as Hermosa Beach Mayor. In the meantime, Missy became active in educational and community activities, and operated a real estate brokerage. Chuck eventually founded and grew Network Hardware Resale in Santa Barbara, pioneering the resale of internet hardware, with the help of both sons. The company was sold in 2016 with 600 employees and operations globally.

They have two sons and daughters-in-law, Mike and Nancy Sheldon and John and Jill Sheldon, and six grandchildren. Their son John graduated from UCSB and currently lives with his family in Boulder, CO. Their son Mike and his family currently live in Santa Barbara, and grandson Max attends UCSB. Missy and Chuck are both deeply involved in the Santa Barbara community and have been active in supporting professional theater, seeking solutions to homelessness, and supporting the Food Bank, among other organizations.

I chatted with Chuck and asked him a few more questions about his connection with our department and advice he’d like to give our students and donors, as well as new entrepreneurs. Check out the full Q&A below!

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Q: How did you first hear about the department of Technology Management?

A: Well, it was many years ago. At the time, it wasn't Technology Management that I heard about; it was the New Venture Competition (NVC). I got involved with NVC in some detail several years ago during its infancy, and I've been involved with Dave Adornetto on a variety of different initiatives since that time.

Q: What got you excited about the department, and what continues to bring you back? It would be great if you could talk specifically about the New Venture Competition, now known as the New Venture Program. 

A: I'm a business guy, and I built my business from scratch hoping to transform it into a large company. I have been an entrepreneur all my life in various capacities. UCSB doesn’t have a business school, right? But I think that this—NVC, is the closest thing that UCSB offers for a business education. 

Q: Can you tell me more about the business you built? 

A: I led Network Hardware Resale for around 25 years. I was the founder, CEO, president, sales director, and frequent floor sweeper [laughs]. Both my sons joined me, John very early and Mike in early 2000. With their significant contributions and a great group of early hires, the company grew exponentially. We all figured it out together and clearly we were in the right place at the right time.

You know, I'll give you a small example. I bought a million dollars worth of routers and switches from IBM, Florida, and without ever seeing them, sold them to IBM, Washington State for 2 million. When someone upgraded with Cisco, for example, they would take the products that were previously in use and put them in a warehouse. Normally, they just sit there, right? But I would call them and I'd say, “Do you have any products in the warehouse?” And they’d say, “Yes.” I’d ask them to give me a list, and once I got the list, I’d buy them for 20 cents in the dollar, then turn right around and sell them to another business, who could use those products, for 40 or 50 cents in the dollar. To the seller, it was found money! We refurbished and tested, as necessary, offered a lifetime warranty, and always under-promised and over-delivered.

The fact is, every major business has things in their warehouse: whether it's furniture, PCs, routers, or tables and chairs. The only difference between what I did and what others, who sold used items, did was that the value of the routers et al. was thousands versus hundreds! 

Q: What are some of the key priorities you’d like to help the department achieve?

A: Several hundred kids, for years, participated in NVC for no credit. They put hundreds of hours into developing and refining their businesses, participating in all of the contests that took place , and received no UCSB credit for it. I think that my primary goal for this endowment is for them to get UCSB credit for all of their hard work. Eventually—hopefully—I’d love to also be able to help the department form a minor program in entrepreneurship. 

My hope is that this endowment and subsequent monies that may come into it, as more students will be able get credit for their participation, will allow the department to hire the necessary instructors and professors and expand the curriculum. 

Q: If you could give advice to students just entering the business world today, what would you say? 

A: Buy low, sell high, and get paid! 

Really, though, if they're going to be in business, the best thing they can do is to either get a business degree, or go to UCSB and get the closest equivalent through NVC, right? Which may be better than a business degree from somewhere else. NVC is real practical business education, not theory. These students need formal training on all of the details of a new business. So my advice is, don't wing it. Learn about it, and perfect the things that come with starting a business.

The first is, you've got to have a product with a large enough market that makes it worth pursuing. All the rest of the things you need to know include market validation, user testing, marketing, sales, finance, how you fund the early stage, and how you entice investors once you’ve confirmed that your product is salable, interesting, valuable, and needed. 

Of course, I could go on for an hour about this topic, but that's the net!

Q: If you could give any advice to other donors/potential donors, what would you say? 

A: UCSB will never have a business school. Never might be too strong, but that’s the current reality. NVC and its extension—with classes, credits, minors, and a major— is the closest UCSB will ever get to having a business school, and it’s arguable that NVC is better training than the theoretical from another institution. I think, if other donors are able to internalize that, it would become very important for them to add to my donation so that NVC can grow and prosper even more.

Q: Is there other advice, or anything surprising about yourself and your experience, that you’d like to relay to our readership?  

A: I don't think a technical degree is required to do well in business. I was never a technician, and frankly, I’m not even good at computers, but I had an instinct for sales and salesmanship. Market validation carried me in the early years, just enough so I could fund my business. I think instinct plays a much bigger role than a technology background, or even a computer background, in starting a business. It's instinct, tenacity, hard work, and lots of hours. 

I came to the industry with an instinct for business, as well as an interest in providing a product that was widely used and salable. I knew there was one, but I had several startups that didn't work years, you know? I think that if anyone knew me, they would say I'm a rather tenacious entrepreneur! Tenacity is absolutely mandatory, no matter the field you decide to enter. You can’t just slide and succeed. You've got to work at it, right? And I did.