Former Iams owner shares entrepreneurial philosophy

Raised on a farm in northern Ohio, Clay Mathile transformed his humble beginnings as the son of a farmer and a school teacher, into a career that led him from General Motors and Campbell's Soup to the ownership of Iams pet food company and its eventual sale to Protor & Gamble for $2.3 billion.

He has since gone on with his wife, Mary, to establish CYMI Holdings, a family-office based in Dayton, Ohio, providing wealth-advisory and investment services. He is also the founder of Aileron, a professional management and administration development group. Mathile wrote two books, "Run Your Business, Don't Let it Run You" and an autobiography, "Dream No Little Dreams."

"What we know about entrepreneurs is they will work 16 hours a day to avoid working eight hours for somebody else," Mathile said.

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