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Monday, October 28, 2013

Entrepreneurship can live forever

I can't wave a magic wand, but I can provide advice and inspiration!

Entrepreneurs have learned to dream big and they often never stop.  They learn to live with adversity and failure.  One of the great things about interacting with a wide range of entrepreneurs is having the chance to meet those with repeat startup creations.  Over the years, I have met founders of significant and profitable businesses and a number were repeat founders.

You may have read much of the press on attempts to change immigration laws.  Some feel the laws should be stricter while others want them more lenient.  People sometimes forget that the only inhabitants in America were the Native Americans prior to Columbus.  Everyone other than Native Americans had family that immigrated to this country from somewhere.  I bet, if one could look far enough back in time, the Native Americans migrated to America.

Immigrants are entrepreneurs that built this country.  I had the great fortune to meet a 69-year-old immigrant that came to the USA on a 1-way ticket.  The immigrant’s father was a farmer and the family was very poor.  This individual could only afford the single way ticket and did not have enough to buy a ticket back.  Recognizing that failure was not an option, this person went to school and managed to obtain a Ph.D. followed by obtaining a job with a Fortune 500 company.

After a layoff, the budding entrepreneur realized that developing a product was something to consider.  Starting a small test lab a novel product was developed using the small amounts of money from friends and family (mostly friends).  The product caught the attention of a larger company that flew the CEO out to meet the entrepreneur and request to buy the company.  This was the first of 5 (yes FIVE) successful BIG exits this individual experienced from the next 5 companies created. 

Today, the 69 year old loves working in the lab of the new company that is profitable.  While there are no plans to sell the highly profitable company, one never knows.  There are more than 30 people drawing excellent salaries in this company.  Their work is high quality and the business has customers that are large and small companies.  The entrepreneur loves working and creating. 

It turns out that I know a friend of this entrepreneur.  Another immigrant entrepreneur (my friend) stated that of the 5 companies he invested in 2 and received a more than 10x in 2 years on just one!   I do not know about you, but that return is something I find exciting. 

This is not the only entrepreneur that has created multiple businesses and I have been fortunate enough to meet several.  I can only hope that you are one of those success stories in the future and that I can meet you after such great success!
  Taffy Williams is the author of:  Think Agile:  How Smart Entrepreneurs Adapt in Order to Succeed to via Amazon