Ageless Entrepreneur. Fred Dawkins
do something and find ways to do it. Start in your personal life. Keep looking for real opportunities and you will do it! Most people are so busy living their lives that they don’t see opportunity when it’s right in their face. Remember, every problem is an opportunity. The solution doesn’t have to be earth shattering to be meaningful.”
The next question was asked by a young fellow that I didn’t recognize. He looked like he was a student.
“Well, sir, thank you for coming today. Do you believe that it’s possible to become an entrepreneur right out of school?”
Sam was smiling at the boy, encouraging him through his demeanour, pleased to see his interest.
“The short answer is yes. The broader answer is that it’s more difficult when you’re right out of school. What’s your name and how far have you gone in school?”
The boy was staring at the floor, reluctant to answer.
“Dominic, sir. I just finished high school, but I can’t see going to college or university. I have to borrow money to do it. My sister just graduated from Guelph and she can’t get a job. I don’t want to waste four years piling up debt for nothing like she has.”
Sam looked concerned.
“Well you’re not alone. Youth unemployment is a critical issue right now. This is the exact point where managing your career starts. If you research trends in the work force you’ll find areas where we need more talent. Then if you choose your courses carefully you’ll have a better chance of getting a job after college or university. That’s why it’s an advantage to think like an entrepreneur and start making strategic decisions early. Never start a business that can’t be viable. Never take courses that don’t provide a path to a future. That’s common sense that most ignore. Education is never a waste. With it your opportunities increase. Getting it develops determination. It takes commitment to graduate.
“But, if you don’t feel you should commit to school or just can’t afford it, here are a couple of ideas for you. Consider apprenticing for a skilled trade. You will probably still have to go to school, but if you get started with a tradesman, even in an unskilled role, you might get some financial help from your employer. That will depend on your determination and attitude. Once you have the skill it can often lead to your own business, and the trades are pretty much China proof because these jobs have to be done here.
“Another option is select the jobs you apply for carefully. Work on that entrepreneurial mindset and look for young growing companies that need flexible, resilient people. In other words, find a job where you can hang out and learn from entrepreneurs that are already in the game. If you can develop that positive attitude, these companies will see you as more employable. All of this is about making strategic decisions from the day you start preparing to enter the work force. For you that’s today.
“One last point: if anyone is serious about going the entrepreneurial route, no matter what age, they have to do a pretty frank assessment of their personal strengths and weaknesses. Lack of experience is a limitation. But every problem, including being young, is an opportunity. Enthusiasm can carry you far in an open learning environment. Avoid prison thinking. That’s something I say often. Those that prejudge limit themselves gratuitously. We face enough barriers without creating more. Young people can get work. Find your strengths, whatever they are, and build on them. Remember the term ‘SWOT Analysis.’ Constantly reassess the strengths, weaknesses, opportunities, and threats that exist in your business and your personal life. They’re dynamic and like the world we live in they’ll constantly be changing.”
Dominic sat down smiling, encouraged for the moment.
The next question came from another surprising source. Martin Goetz was the managing director of a large local company, which was, like my old employer, a subsidiary of an American firm. He had the reputation for being a demanding, hardnosed manager, very old school. He wasn’t really a local but had been transferred into the area by the company almost twenty years ago.
“My name is Martin Goetz. I enjoyed your talk but I’m not sure I agree with you on much of it. Do you really believe that large organizations will embrace entrepreneurship from within?”
Sam had no idea who was asking or what his background was, but he had a strong opinion.
“Well, Martin, there is an old expression I mentioned earlier about necessity being the mother of invention. I like to expand on that by saying if necessity is the mother of invention then opportunity is the father of entrepreneurship. I believe we will see more intrapreneurs and disruptors in large companies because they’re already needed. We’re approaching a tipping point after which the management culture will be forced to change. Need will create the adjustment. That’s the opportunity. Necessity and opportunity will dictate less rigidity and greater adaptability within every organization — large and small. Of course it won’t happen quickly because many current managers will resist.”
Sam had a pretty good read on Martin, who sat down shaking his head in disbelief. The implication was that he was one of those current managers resistant to change. At least that’s what I thought. Not many people in the room were sympathetic. No doubt some felt Sam was idealistic and maybe a little overzealous, but no one really liked Martin. Sam didn’t leave it quite there.
“Don’t assume that I think everyone can be a full-scale entrepreneur. That would be a pipe dream. Besides, I know that large organizations can never become as flexible or as proactive as small independent businesses. However, business methods inevitably reflect the times. That will mean welcoming more entrepreneurs into the big stage environment and taking a major step toward entrepreneurial thinking across the breadth of these organizations. Business is a war game, very competitive with high stakes. Competition plus a growing source of entrepreneurial graduates will make this change in culture happen. You can ride the crest of the wave or get smashed on the beach resisting it. Frankly, once companies recognize this need they will expand the horizons for those ‘in between’ people who have ideas and initiative but suppress them to conform because they can’t or won’t make the leap of faith into an independent business. As Doris suggested, entrepreneurship is being viewed by many as an economic wonder drug for the twenty-first century, and it may well be just that. If we can shift the average masses of talent in the middle away from craving stability and toward embracing the reality of dynamic change, who knows what will be possible. Remember, we need to trade in stability for agility.”
Martin was still shaking his head while muttering something under his breath but the rest of the room was quiet, even subdued, reflecting on what they had heard.
There were a ton of questions after that. An old colleague of mine, Paul Groves, asked one that had been plaguing me.
“At what age are you too old to start?”
That proved to be my personal favourite and the short answer augured well for my talk with Sam later.
“It’s never too late! If I can become a published author at my age anything is possible.”
The next question related to one of Sam’s favourite doubts, one that dissuaded many potential entrepreneurs. I didn’t recognize the guy who asked it.
“Based on the books I’ve read a lot of people think you’re limiting your upside if you never fail because you haven’t taken enough risk. That terrifies me. I can’t stand the thought or the humiliation of failing. Is failure really an essential part of succeeding as an entrepreneur?”
I knew this was a sore point with Sam. I had seen his reaction to the same question during one of his webinars.
“Fear of failure’s a great motivator. Let’s face it, no one likes to fail. But the idea that you have to fail to succeed is more than rationalization, it’s a crock. Worse than that, it’s one of the myths about being an entrepreneur that scares people like you off. Risk is part of the process, but you have to manage it. Much of the downside is within your control through the decisions that you make. If you make reckless choices failure is more likely. My best advice is to avoid failure if you can and learn from it if you must. We all learn more from failure.