My Journey

 

I chose to provide you the learner with an essay chronology in consolidated sequential phases, call it an expanded vita, rather than a boring resume; as such, I will trace my experiences through the plateaus and pitfalls of my unique journey as illustrated below and detailed in my book titled Entrepreneurial Decision Making.

The chronology is divided into three major components beginning with my accumulated experiences in academia (phase I) followed by my entrepreneurial pursuits (phase II) and finally my career in corporate America (phase III)

 

Phase I: As an Entrepreneurial Educator

 

My development as an academician began after I founded my first venture when I was asked to join a group of academicians at the University of St. Thomas (Minneapolis/St. Paul, Minnesota) to co-pioneer a program in entrepreneurship as an accredited course leading to a degree in the subject. Our group developed an entire curriculum, which we also taught and continued to expand from the undergraduate level to an MBA graduate program over a period of ten years, which for my contribution, I earned a certified academic ranking of Adjunct Professor in their MBA program (1978-1988). This program, although greatly expanded, continues today and is one of the most respected programs available from any university.

I was also asked during this same period to help jump-start an MBA program for a newly launched school/institute founded by what was then the former Dean of the University of St. Thomas (UST). This request included developing and teaching a complete curriculum on the subject of entrepreneurship. The first year enrollment in this new school was so successful that UST decided to purchase the school and fold their program into their own forming an even more intense MBA concentration at UST and I continued to teach in the consolidated format.

I was still the Chairman and CEO of the company I founded during my academic university involvement; however, my journey in the business world (re: phase II) eventually led back to academia and I spent five additional years as an Adjunct Professor developing and teaching a new curriculum in entrepreneurship at Santa Clara University (SCU) similar to my curriculum development at UST. I was also asked, commensurate with my teaching duties SCU, to join the staff at the University of California/Berkeley-extension to design and teach a pioneering program in entrepreneurship for their newly launched online distance learning test project, which later became the catalyst for me to develop this site.

It was during the same period teaching in the above universities that I enrolled in a doctoral program, which I have not completed since my dissertation was focused on my hypothesis that "Entrepreneurs are born not made.” Unfortunately, my extensive research proved me only half-right, as it appeared that men seemed pre-disposed to becoming an entrepreneur as a function of genetics: whereas, women became entrepreneurs as a result of their environment; such as, divorce and the “Glass Ceiling” syndrome. Essentially my hypothesis was rooted in genetics not environment as the driving force for entrepreneurs or for that matter in life; however, there is more of a balance between the two forces than I first believed. Therefore, my basic tenet has now been somewhat modified, suggesting that genetics provides the opportunity through inheritance and the environment establishes the direction and implementation.

 

Phase II: As an Entrepreneur

 

I began my entrepreneurial journey in 1972, after a lengthy tour in corporate America (re: phase III), when I met a machinist, who wanted to grow his business and through a series of meetings and advice given by me, we joined together as equal partners, in a partnership, which later led to incorporation. This venture eventually evolved into a major small business with a series of acquisitions and internal growth leading to an IPO (Initial Public Offering). We had grown from a single machine shop to a diversified operation including an expanded machine shop, canvas products fabrication, sporting goods distributorship and proprietary safety products resulting in sales in the millions and a strong OTC (over-the-counter) stock by the time we sold the company (1979).

My next entrepreneurial venture was a lamp manufacturing company when a former client of mine, during my days as a commercial lender (phase III), asked me to join him with an opportunity that surfaced to purchase the company. I resigned from my position as Vice-President of a very prestigious bank holding company (phase III) with offices on the 43rd floor of a Miami office tower to join him in what turned-out to be a one year disaster and a major career faux pas on my part as my partner, whom I trusted and was acting as the company controller had been diverting company funds to his personal account. I was the Chairman and CEO responsible for growing the organization and discovered our poor financial condition when I ordered an outside audit, as a matter of policy, in anticipation of doing a limited public offering, which we were never ever able to execute due to the situation and was forced to liquidate the company by selling its assets and specific liabilities to a new owner/operator. (you will read a whole chapter on this issue in my book on partnerships and selection consequences).

However, I believe there is a pre-ordained path we are all assigned and found myself once again deciding to rejoin corporate America or starting my second entrepreneurial venture, which I did without much angst by forming an investment company, raising several million dollars, dedicated to purchasing management contracts of marginally priced mutual funds and eventually an under-capitalized community bank. The bank prospered but we were never able to overcome our capital deficiencies and eventually sold the bank, during the big bank merger era of the ‘90’s, which led to my retirement in 1994.

 

Phase III: As An Early and Seasoned Inductee In Corporate America

 

I began my career (1960) after my military duty with several small family businesses, as somebody’s executive trainee (whatever that means) and gradually networked (very important) my way to being hired by a Fortune 500 company, to grow their international business, as their Export Manager. This position afforded me a tremendous opportunity to travel half the world and organize new businesses for the company. There was no question that I was what was then called “a fair-haired boy” in the organization receiving many accolades for my performance; however, there is another side to being too successful in a big organization and that is being a threat to others, especially if one is your boss, so eventually I was fired right before Christmas and after the birth of my fourth child at the age of 36.

Naturally, my belief in corporate America had dramatically dissolved and I had my first taste of the “Bullcrap” that goes on in this venue and was once again ready to create my own destiny. I took another job as a buffer to organize my thoughts on when, where and what kind of business I would launch (the details are in my book and briefly stated in phase II). I then went to work for an entrepreneurial company before I returned to corporate America after the sale of my first venture (phase II) by joining three different nationally recognized commercial banking operations, specializing in asset based lending (ABL). I stayed in this industry for about twelve years in various capacities including several regional Vice-President positions. My role, as an asset based lender (ABL), was to interview, evaluate and determine the credit worthiness of small and medium sized business applicants; ultimately lending them money for their operations. This position allowed me the opportunity to work with many entrepreneurs in the course of conducting this business, all of which added to my own “Body of Knowledge” on the subject of Entrepreneurial Decision Making. I was fully vested by this time and resigned to create my last entrepreneurial venture as described in phase II.

 

Summary:

 

I have been teaching ENTREPRENEURSHIP, for fifteen years, as a second and much cherished career, commensurate with my 35 year career as an entrepreneur and banking and finance executive. At this point in my life I can safely say I have walked the walk and can talk the talk on the subject of entrepreneuring. However, I would be remiss if I did not say that throughout my career, I had exposed myself to some not so pleasant encounters with the SEC and the Government, which often happens to entrepreneurs when their intentions are honorable but the result is less than what was anticipated. Fortunately, I was able to resolve my issues and move-on; however, there are lessons to be learned from my experiences when dealing in the capital markets and with sometimes overzealous government agencies, which is why it is important to read my book and learn from, not only, my personal experiences, but also, how to prevent (not eliminate) problems from arising in the first place when you are carving-out your own destiny.

 

FYI : Of course, as I believe destiny is pre-determined, all three of the above phases led to my desire to author and teach the contents of my book. Read my book before you decide to pursue the life of an entrepreneur as it is my intention and promise to myself to give you as much information as is possible, so you can make the right decision to be or not to be-an entrepreneur. As I say in my book, you may rethink whether pursuing an entrepreneurial career is worth the risk but oh how nice it is when you reap the rewards in both personal satisfaction and financial and social independence.