entrepreneurship

Success Will Come From Relationships You Build With People

December 19, 2022 by Jim Blasingame

Dave was the fifth of twelve children raised during the Great Depression. His father worked at a sawmill and was a part-time basket weaver.

Dave had some problems: He was a stutterer, he had epilepsy, plus a learning disorder, all of which prevented him from graduating high school until he was 21. How do you like Dave’s chances in life so far?

But Dave was a good employee: first a Fuller Brush salesman and next a route man for two bakeries. Then, with all of his personal challenges, he purchased and successfully ran a restaurant and a grocery store.

Remember Dave’s father’s part-time basket weaving? Well, he started selling baskets: first from his father’s hands, and later from Dave’s factory. Oh, that’s right. You didn’t know Dave had a basket factory. Well, it was the basket factory Dave sold his two very successful businesses to buy. Turns out Dave had serious entrepreneurial sap rising in his bark.

Dave’s friends, family, and bankers were incredulous. Why leave a successful and sure thing to make baskets? By the way, they knew Dave didn’t know anything about how to make baskets himself. Would you have invested in Dave?

We now know that Dave also had vision. He envisioned a world that would need baskets – lots of baskets. And Dave Longaberger wanted to fill that need. [Continue Reading]

Four Business Lessons I Learned On The Farm

December 8, 2022 by Jim Blasingame

Growing up on a farm provided many valuable lessons that have transferred beautifully to my life in the non-farming marketplace. Here are four of those timeless and universal lessons.

The Application of Patience

In civil society, patience is respected as one of the great virtues. Who hasn’t heard the admiration, “The patience of Job?” But in the marketplace, patience is half of a powerful paradox because of its alter ego – impatience.

Impatience can be a problem – everybody knows that. [Continue Reading]

Entrepreneurial Intangibles Are Essential To Tangible Success

November 20, 2022 by Jim Blasingame

Now in my fifth decade as a business owner, this Baby Boomer has been reflecting on what’s been learned that would benefit the next generation of entrepreneurs.

It’s understandable to focus most of our attention on the many hard fundamentals of how to sustain a successful small business operation. But after logging many hours in that tangible mode, you’ll discover that it’s just as critical to respect the softer entrepreneurial intangibles that tend to be the human being behind the venture. And those who recognize and incorporate these in their approach to ownership are more likely to achieve that elusive holy grail of human intangibles: happiness.

In that spirit, allow me to offer two intangibles that are just as essential to business success as cash flow and profitability: [Continue Reading]

Patience Is Not Standard Equipment On Entrepreneurs

November 5, 2022 by Jim Blasingame

One of the markers of American culture is the “sticker” on the window of a new car. This document reveals to shoppers a listing of standard equipment and options, plus, of course, the manufacturer’s suggested retail price, or MSRP.

But what if someone is shopping for an entrepreneur to work for? That may sound silly, but prospective employees increasingly do it all the time out here on Main Street. Yes, the money comes into play. But these days, it’s the list of “equipment.”

A prospective team member would be justified in expecting the list of entrepreneurial standard equipment to include characteristics like courage, creativity, perseverance, and adaptability. Innovative, creative, and visionary are other important line items. One of the newer expectations increasingly prominent here in the third decade of the 21st century is values. What are the values of this prospective entrepreneur/founder/employer? What do this business and its founder stand for?

But there’s one trait that’s historically not itemized on an entrepreneur’s standard equipment list: [Continue Reading]

The Quest For The Essence Of Entrepreneurship

October 29, 2022 by Jim Blasingame

Ever wonder what’s behind an entrepreneur’s decision to take a risk? There is a spectrum for this, with the calculation and reasoning of due diligence on one end, foolhardy on the other, and a variable called faith that lives in the middle.

We’ve all heard stories about the legendary entrepreneur’s hunch. But without some foundation of facts and reasoned assumptions supporting a financial projection, a hunch is the equivalent of a belt without loops. And everybody knows what you call trying to hold up pants with a belt that’s not connected to anything – foolhardy.

Still, that foundation you seek is challenged by the truth that the most important decisions are powered by their own urgency. The time will come – usually sooner than later – when an entrepreneur must take action without the benefit of all the answers; when the fog hasn’t yet lifted on your quest for clarity. And in that moment of not knowing, but going forward anyway, we find the quark of entrepreneurship, identified by the paradoxical twin emotions of apprehension and exhilaration.

These emotions presage possibility: [Continue Reading]

The Archenemy of Fear Is Performance

October 15, 2022 by Jim Blasingame

Anyone who has contemplated forsaking the perceived, if not real, security of employment to start a small business has come face-to-face with and overcome the greatest of all business challenges: the fear of failure. Countless would-be entrepreneurs have discontinued their self-employment pursuits for fear of losing too much – the risk being just too great. Everybody knows that.

But if you pushed through these trepidations and, against all odds, became a business owner anyway, you know that wasn’t the last time you experienced fear. Indeed, fear is so much a part of being a business owner that, in time, we recognize and accept fear as something that can be quite handy.

Not paralyzing fear, like when you’re ignorant of how to prevent or recover from danger. But rather the kind of fear that helps you seek excellence. The kind that motivates you to become more aware, knowledgeable, capable, prepared, decisive, and effective.

Remember these two things about fear: 1) it’s a shape-shifter, capable of appearing in many forms; and 2) successful entrepreneurs learn how to recognize and deal with fear in all its shapes. Let’s look at some of the manifestations of fear, followed by what each one might sound like. [Continue Reading]