The O-Fer Entrepreneur

Posted on November 23, 2025 by anentrepreneurswords

In baseball the stat line for a hitter who strikes out, flies out or grounds out in all his at-bats during a game is shown as 0 – 4 or 0 – 5. The stat sheet for a basketball player who continually shoots and misses without scoring a point might show 0 – 7 or 0 – 10. In athletic terms this is an O-fer . . . O for 4 or O for 5 . . . O-fer. Going O-fer is an ignominious experience and generally brings on scorn from the fans. In 1922, Babe Ruth faced St. Louis Browns’ pitcher Hub Pruett. The first 14 at-bats for the Babe resulted in 10 strikeouts and two walks. During the 1922 World Series, Babe Ruth hit one single and one double in 17 trips to the plate. Arguably one of the greatest players to ever step on the diamond, Babe Ruth struck out 1,330 times. That was fewer than other baseball luminaries such as Barry Bonds (1,539), Mark McGwire (1,596), Mickey Mantle (1,710), Alex Rodriquez (2,287) and Reggie Jackson (2,597). Any student of the game will tell you that all these players were some of the best in the history of baseball.

There is another side to the story. Ruth had 2,214 Runs Batted In (RBI); Bonds had 1,996; McGwire had 1,414; Mantle had 1,509; Rodriguez had 2,086, and Jackson had 1,702. And each smacked a lot of home runs during their respective careers – Ruth (714); Bonds (762); McGwire (583); Mantle (536); Rodriguez (696) and Jackson (563). I know this is a lot of statistics and if you are not a baseball fan you may not fully understand the astounding nature of these feats. But there is a point to all of this. In life we do strikeout. Baseball players strikeout. Entrepreneurs strike out. Salespeople strike out. Going O-fer is just part of the game.

What matters is how we deal with going O-fer. When we flame out do we play the victim and blame someone else? Or do we examine our technique as well as the surrounding circumstances and look for ways to tweak our “form?” How easy would it have been for these great baseball players to have let their propensity to strikeout destroy their careers? Instead, they did something else. They figured out how to take the strikeout experience and find a way to hit the ball out of the park in a future plate appearance. Babe Ruth was number 118 in lifetime strikeouts, but he was number two in RBIs. I find this fascinating. Here is a man who drove in far more runs than he struck out – yet he had a lot of strikeouts over the course of his career.

I listened to a podcast a few years ago about a venture capital firm that was launching its first fund. The principals were doing the typical road show and calling on prospective investors in multiple markets. They would typically be gone for a week at a time – one week they made 25 meetings in Boston, Chicago, Atlanta, Miami, and New York. During that week they were O-fer through 22 meetings. Imagine how this might feel! Yet, on their final day, they went three-for-three and netted tens of millions of dollars in commitments.

There’s more than just resilience at work here. It is critical to understand that going O-fer is just part of the game. It does not mean the game is over. With each new meeting, pitch, visit or idea, we are starting zero to zero. It is a tie game. I have learned not to look at O-fer beyond zero to zero. If we do not win the last at-bat, we simply start over with the next one. We remember the instructive elements from the encounter and discard all emotion as we make the pitch again to the next customer. We only lose if we stop playing the game. We know in our bones that eventually we will hit a home run or an RBI. So, we keep playing the game.

If we understand that O-fer is just part of the game and can maintain our positive energy, we can erase our doubts and feelings of limitation. This sets us up to ultimately connect with the ball and score consistently.

This blog is being written in tandem with my book, “An Entrepreneur’s Words to Live By,” available on Amazon.com in paperback and Kindle (My Book), as well as being available in all of the other major eBook formats.

The “Danger Will Robinson” Entrepreneur

Posted on November 16, 2025 by anentrepreneurswords

Lost in Space was a classic television show broadcast on CBS between 1965 and 1968. A young Billy Mumy played the part of Will Robinson who regularly interacted with the Robot. For those of you too young to remember, the plot centered on a modern-day Swiss Family Robinson, marooned in space where the goal was to somehow figure out how to return to Earth. I enjoyed watching this show in black and white, and later in color, while Will and his family would constantly encounter misadventures. One of the most epic lines was spoken in a raised voice by the Robot – “Danger Will Robinson; Danger!” whenever Will was about to be eaten by some exotic space creature, or step into an abyss that lay below some cosmic quicksand.

We entrepreneurs need our own version of the Robot to help us avoid many of the missteps that we encounter in our daily lives. One such opportunity for disaster comes when we are in the middle of negotiating. In my world, we are always buying and selling apartment properties. Let’s use the acquisition of one such property as the example for this blog. The property in question seems to perfectly fit our acquisition strategy. The location is right, the property age falls within the target timeframe, the unit mix is perfect, and historical data shows a very strong operation for the past several years. But . . . the price is significantly higher than we can pay to generate the return on investment we are seeking.

We negotiate back and forth. Offers and counteroffers ensue, but we just are not quite at the price we are looking for. Here is where we need the Robot to save us from ourselves. There is a psychological threshold at which point we are committed to getting the deal done. We are vulnerable at this point to being taken advantage of. Maybe we start looking at our projections again and tinker with the annual rent increase percentage we initially underwrote. When we do this, the numbers work, and we can close the deal. Yet are the new rent increase projections realistic? Or are we simply looking for a way to rationalize the adjustment? I have certainly done it before. My reasoning went like this, “The standard 3% increase on this property is approximately $25 per month. Another .5% pushes the rent up by $29 per month. A renter isn’t going to balk at $29 any more than at $25, so I’m comfortable using an annual rent increase factor of 3.5%.” Now, it is very possible that this line of reasoning is sound. But it is important to understand the motivation behind it. Are we modifying our projections just to get the deal done, or are we really being ultra-conservative and there really is not going to be a problem with the rent increase tweak?

There is a fine line to walk between being creative to successfully complete a negotiation and allowing our emotions to drive the terms and conditions that we are willing to accept. By establishing strategic parameters in advance, we can avoid becoming vulnerable to doing a bad deal. For example, we will only acquire an apartment property that is of sufficient size so that we are not compelled to purchase a second or third property in the same market just to gain management efficiencies and economies of scale. It is also important to remember to separate business negotiations from personal ones. Buying a piece of artwork for a personal residence is an emotional decision and it is acceptable to allow emotions to enter the negotiations. Making a business acquisition of some sort should be completely divorced of emotion in all but the rarest instances.

In a business negotiation understanding where the line is between sound decision making and being vulnerable to manipulation is critical. Establishing strategic parameters before the negotiations commence and then sticking to them during the negotiating process will help us avoid crossing this line.

The Collaborative Entrepreneur

Posted on November 9, 2025 by anentrepreneurswords

Nike’s corporate tag line is “Just Do It.” And that could be the tag line for companies of all sizes. Leaders at all levels send the message of “Just Do It” to their “charges.” This notion boils down to a command and control style of management. And I probably do not need to point out how poorly this approach works with today’s Millennial and Gen Z workforce. We Boomers grew up in this environment and may tend to continue its practice. Perhaps it is time for something different.

I know that many entrepreneurs agree in principle with a more collaborative style of leadership. Yet, the language that is used may belie this agreement. Examine the following statement that rolls up many of the words used into a massive contradiction with collaboration. Mr. Smith is a senior executive with the ABC Company and he’s describing a recent business win for his company.

“My employees really came through with this project. I have a hundred people working under me and every one of them did their jobs like they were supposed to. I set their goals, and they achieved them. I’ve been focused on this opportunity for a long time. I love winning this way!”

At first blush Mr. Smith seems to be giving credit for the win to others. But the way he says it indicates that he is not yet a convert to a more enlightened style of leadership. Note the highlighted words. Clearly, he is in charge here and other people have done his bidding.

Entrepreneurs can change this narrative. When we are comfortable in our own skin, we are easily able to eliminate the unhealthy aspects of our ego from our interactions with others. It is often the case that having to take the credit for an accomplishment or reinforcing the fact that we were “at the top of the food chain” is a result of our own lack of confidence or some other insecurity. With our new level of comfort, we relax, smile, and become totally humble.

Here is another version of the previous statement. Mr. Doe is a senior executive with XYZ, Inc. and is celebrating recent success.

“The XYZ team is amazing! They worked together to establish the goal and drew upon our Core Values to develop a winning strategy. We are so appreciative of each and every one of the hundred team members who worked tirelessly on this project for more than a year. Their commitment, dedication and creativity are the reasons for our success.”

Sounds a little different, doesn’t it? There is not a single mention of the words “I,” “me” or “my.” The word “employee” has been replaced with “team member.” Mr. Doe simply delivers the message without allowing his ego to enter the picture. Clearly, Mr. Doe’s team members work “with” him – not “under” him. I have written before about how we need to be intentional about modifying our vernacular away from “I,” “me,” and “my,” and changing to “we,” “us,” and “our.”

Collaborative leadership is not decision making by committee – as a leader we still make the ultimate critical decisions. Collaborative leadership is about seeking out team members and listening to their thoughts and ideas. It is valuing others as human beings and the contribution they make to the enterprise. It is about having empathy and creating a culture of respect. And it is about using the words we say as a reflection of all these factors.

When we think about what we write and say we can ask ourselves this simple question – “Do my words focus the spotlight on me or on others?” Doing so helps us move away from the old command and control approach of the past.

The “My Word is My Bond” Entrepreneur

Posted on November 2, 2025 by anentrepreneurswords

This blog is a bit of a lament. I grew up in my industry during the 1970s and 1980s when a handshake was still as meaningful as written documentation. The proverbial handshake was not necessarily a legal contract, but it might as well have been. Once we gave our word, nothing could change the follow-through on our intent. Legal documentation was merely a formality and there was not a lot of haggling over the verbiage. Sadly, this notion of “my word is my bond” has diminished in recent times.

Sometime ago we sold two large apartment communities that were part of our portfolio for several years. We went through a painstaking process of listing the properties for sale with a national brokerage firm. The properties were marketed extensively, and we issued a call for offers. Dozens of offers were received, and we opted to have further discussions with the top ten bidders. Then we made a call for “best and final” offers. Once those offers were received, we interviewed the top four bidders and determined a winner. We then told the winners verbally that we were accepting their best and final bid. In both instances, one of the unsuccessful bidders reached out within 24 hours and increased their offer. In one case, the increase was $250,000, and in the other case it was $750,000 higher. In our minds there was no decision to be made. We had already given our word to the initial winning bidders, and we had no problem staying with their offers, even though it cost us $1 million.

Contrast that with a situation that occurred with another of our business units. This business is involved in the syndication of historic tax credits. We offered term sheets to a developer who verbally accepted our offer and confirmed the acceptance in an e-mail. A couple of weeks passed, and we had not received a return of the term sheets signed by the developer. When we reached out to the developer he apologized and said that he had decided to accept an offer from another tax credit syndicator. Legally, he had every right to do this. But it certainly left a sour taste in our mouths. For sure, his word was not his bond, and he did not even have the courtesy to let us know without being prompted.

It all boils down to the simple yet powerful premise of Integrity. Our company embraces five Core Values, one of which is Integrity. We are proud of the fact that we can demonstrate in real time that we practice what we preach. Integrity used to be a foundational principle for entrepreneurship. I believe that it still is, but it has become devalued – especially where the almighty dollar is involved. The problem is compounded by the fact that too many businesses throw around terms such as “integrity” and “honesty” but fail to deliver on them. Hearing Honest Harry yap about how you can trust him to sell you a car at “$1 over invoice” has caused society to tune out.

So, what do we do about this sad fact of life? At this point, I do not really care about whether I can believe that the word of other entrepreneurs is their bond. Instead, we will just keep doing things the old-fashioned way. If I tell you something, you can believe it whether we have a legal document or not. Hopefully, you will treat me the same way. If I screw-up, I will step up and make it right whether I have a legal document compelling me to do so or not. I cannot count the number of times over the course of my career this has happened – at a cost of literally millions of dollars. This may not be the smartest business decision, but it is the right thing to do, and I can sleep at night.

At the end of the day, as entrepreneurs we should want to be judged by the character we display over the course of our careers rather than the amount of money we will have made.

The Vengeful Entrepreneur

Posted on October 26, 2025 by anentrepreneurswords

Something happened in the entrepreneurial world that is so strange that I literally did a double take. Here is what was reported in the New York Times on May 25, 2016.

“A billionaire Silicon Valley entrepreneur was outed as being gay by a media organization. His friends suffered at the hands of the same gossip site. Nearly a decade later, the entrepreneur secretly financed a lawsuit to try to put the media company out of business.”

“That is the back story to a legal case that had already grabbed headlines: The wrestler Hulk Hogan sued Gawker Media for invasion of privacy after it published a sex tape, and a Florida jury recently awarded the wrestler, whose real name is Terry Gene Bollea, $140 million.”

“What the jury — and the public — did not know was that Mr. Bollea had a secret benefactor paying about $10 million for the lawsuit: Peter Thiel, a co-founder of PayPal and one of the earliest investors in Facebook.”

We have all heard the phrase, “don’t get mad – get even.” I think this example takes the concept to a whole new level. Ultimately Gawker filed for bankruptcy, so I suppose that Thiel achieved his objective. Thiel claims that his financing of lawsuits against the company was about deterrence rather than revenge. But that is a bit hard to swallow. Several issues surface with this situation including whether it is right for wealthy people to use lawsuits to attack free speech. But that is a subject for others to discuss. The focal point for this blog is how we as entrepreneurs choose to react when we perceive that others have been unfair to us.

Undoubtedly, we have all experienced a time when the Golden Rule was taken out of the drawer and used to beat rather than measure us. And when this happens our first instinct may be to fight the injustice that we have experienced. Thoughts cross our minds like, “we’ll sue,” or “let’s steal one of their clients or employees.” This is perfectly natural . . . and totally unproductive. Of course, there are situations where it is perfectly valid to take legal action. But doing so out of revenge or spite may not be in our best interest.

I am making no judgment about Peter Thiel. But I know for myself that even a hint of vengeance in my persona is a very bad thing. Vengeance is nothing but negative energy which can lead to all sorts of undesirable consequences. Why take a chance to attract illness, loss of relationships, financial hardship, and other unfavorable outcomes because we dwell in the negativity of revenge? Instead, why not focus on the goals and objectives at hand and deny the temptation to wander down the payback path? Rather than looking for retribution, look to use the injustice as a powerful incentive to succeed.

The English philosopher Francis Bacon once said, “A man that studieth revenge, keeps his own wounds green, which otherwise would heal.” In other words, wallowing in revenge keeps reminding us of our negative experience. It crowds out other thoughts and feelings that might be the new idea we need or the solution to a problem we have been seeking. The pursuit of punishment and retaliation keeps us stuck in neutral and prevents us from moving forward. Competition is tough enough these days – why allow our competitors to lap us while we are stuck in the metaphorical pit stop of vengeance?

As entrepreneurs we fortunately make our own choices. Choosing not to accept the negative emotions that are associated with unfair or unjust treatment puts us that much closer to prize which we desire.

The Entrepreneur and the Bus

Posted on October 19, 2025 by anentrepreneurswords

“Tom’s personal preferences on his footballs are something that he can talk about in much better detail and information than I could possibly provide,” Belichick said, “I can tell you that in my entire coaching career, I have never talked to any player (or) staff member, about football air pressure.” This is a quote from a press conference held by New England Patriots coach Bill Belichick during which he spoke about Patriots quarterback Tom Brady and the infamous “Deflategate” case. What just happened here?

This was a classic case of someone being “thrown under the bus.” In this instance it was very public and left some massive tire marks. In an entrepreneurial environment this is pure poison. Throwing someone under the bus destroys team spirit and leads to major internal trust issues.

As children, we tend to point fingers at others rather than accept responsibility for ourselves. The blame game was in full swing and a normal aspect of childhood. We should have seen its destructive nature then and refrained from carrying it into adulthood. How often have you heard something like this? “Our revenues are down because the salespeople didn’t move enough of our product.” Or “The contract was late being delivered to the client because my administrative assistant was sick.” And how about, “I’m sorry we delivered poor customer service – I’m going to fire John Doe whom you spoke to on the phone.”

Wow! These are some heavy-duty statements and perfect examples of what it looks like to be thrown under the bus. They are also perfect examples of scapegoating, finger-pointing, excuse-making and general lack of accountability. At all costs, the speaker wants to distance himself from what went wrong. It is obvious that this is not enlightened leadership. How simple it would be to change a few words and ultimately the whole message. Consider these alternatives. “We’re pulling the whole team together to identify a new strategy to increase revenues.” No one is being blamed here, and a positive step has been identified. “I’m very sorry the contract was late. Please let us know if there is anything that needs to be changed.” The client does not really care why the contract was late. Thus, a heartfelt apology is all that needs to be said. “I’m sorry our customer service wasn’t satisfactory. What else can we do to make this right?” Again, a straightforward apology and no one is blamed.

Teams become strong when each member knows everyone has his or her back. What if clearly someone screwed up and made the whole team look bad? Shouldn’t that person be held accountable? This is a fair question, and the answer is yes to accountability. But as leaders, we should never publicly do so – to a customer or in front of the whole team. Individual issues should be dealt with individually. We accomplish nothing when we embarrass a member of a team in front of others. Not only does that team member resent such treatment, but the other members become afraid of making mistakes for fear of being called out in similar fashion. Rather than move forward with positive energy, the team then becomes tentative and apprehensive.

A respected leader will always take one for the team. He or she understands that an individual failure is a team failure. The failure could have happened because the team members did not have the training or the resources to succeed. It could have happened because systems and processes within the organization were broken. Perhaps there was a lack of communication or understanding. And it is possible that the organization failed because it placed a bet on a team member that really was not qualified for the job. Rarely is failure isolated to a specific individual. Recognizing this, the strong leader will resist the temptation to single out an individual and instead accept responsibility on behalf of the entire enterprise.

Being thrown under the bus is humiliating and painful. People want to work within companies that create a climate of trust and avoid blaming individuals for problems when they arise.

Messy Entrepreneurship

Posted on October 12, 2025 by anentrepreneurswords

Years ago, I remember watching with great interest when my then-2½ year-old grandson and his then-11-month-old sister explored their relatively new lives. Building an entrepreneurial business is a lot like raising a child. There is a tremendous amount of nurturing required. Let us look at the parallels.

My grandson was prone to tantrums which come with the territory during the terrible twos. Usually this happened because he was frustrated or did not get his way. In a growing business we can feel extreme frustration when things do not go our way. We may tend to take out our frustration on others in the form of an adult tantrum – possibly we say or do things that are less than kind. I also noticed what happened when baby sister picked up one of his toys. Now, this may have been a toy that he had not touched for weeks, but if she latched onto it, he suddenly wanted and needed it right then and there. He would push her, and she would push him back – and trust me, she was a strong little cuss! In our entrepreneurial endeavors we may regularly experience conflict with others who see things differently. As with children it sometimes seems like all we do is attempt to resolve such conflicts.

Do you want to talk about hyperactivity? I am an expert on this subject. When you look up the word in the dictionary, my grandson’s picture is there. He and his sister have both been afflicted with this tendency all their lives. They are all over the place all the time. When he was younger, he would put together a couple pieces of a puzzle, then zip over and ride his tricycle, then run upstairs and bang on his drum set (a hand-me-down from his older cousin who received it from yours truly – kind of a Karma thing). Baby sister was motoring around and climbing on everything during every single waking moment. Think about the entrepreneurial environment. It is hectic. The pace is frenetic, and we are constantly putting out fires and incubating new ideas – all at the same time. The downside of course, can be a lack of focus and a failure to complete tasks and projects.

Kids make ginormous messes. Several years later, when I visited at my daughter’s house, I am always struck by all the “stuff” that is strewn about even though they were no longer toddlers at this point. At our home I watched these kids drag things out of the toy box and leave them in their wake as they move on to the next “thing.” Fortunately, we have fewer “stuff” items at our home, but there is no question that the little munchkins could pull everything out and cover the floor in a matter of seconds. And when it comes to eating, that is a whole other story. There is no other way to put it – it looked like a daily occurrence of an Animal House food fight. There was oatmeal on the floor, eggs on the walls and cheese stuck to the ceiling! Our businesses may look the same way. Building an entrepreneurial organization is a messy proposition. Things break. The prototype product we created is not the sleek game-changer we had anticipated. Systems and processes are half-completed and sometimes customers are less than pleased.

For all the trials and tribulations of raising children, there are many rewarding moments. Watching my grandson take his first few steps and become more confident every day thereafter was pretty cool. Listening to a 2½ year-old sing the “ABC Song” perfectly was a proud moment. Seeing the smiles and hearing them lovingly call me “Poppa” still melts my heart to this day. I guess it is true what they say about grandkids being the reward we receive for not killing our children. Likewise, our hearts sing when things come together, and we take three steps forward as entrepreneurs. Oh sure, there will be two-step-backward days as well, but the net effect is positive. How do we make sure that the rewards are always there? Like parents, we remain committed to building our business just like we are committed to raising our kids. We learn how to be patient. We learn how to be positive. And we learn how to celebrate victories along the way.

When we grow an entrepreneurial business, we know there is going to be oatmeal on the floor. But if we are committed, patient, positive and celebrate success, eventually our baby will grow up and make us very proud.

The Swivel Headed Entrepreneur

Posted on October 5, 2025 by anentrepreneurswords

A good pilot has his head on a swivel. He is constantly scanning his instrument panel as well as the skies around him. There may be other airplanes in the immediate area to avoid. Maybe there are TV towers or smokestacks to miss. Engine performance gauges must be monitored, and navigational displays are critical to comprehend. All of this can be summarized in two words . . . situational awareness. Without situational awareness we are more vulnerable to physical dangers around us. A lack of it can result in an auto accident, stepping off a curb and breaking an ankle, or starting a fire when the grill is too close to the house.

In the entrepreneurial world, situational awareness is worth its weight in gold. Now, you may be wondering how this concept applies to business situations. It has less to do with physical proximity and more to do with possessing a sixth sense about a multitude of factors. As entrepreneurs we can attain a much higher degree of success as we develop our entrepreneurial awareness. For example, how well do we sense what is happening in our marketplace? There is more to this than just crunching numbers. The key is to look behind the empirical data and understand what is truly happening. Here is a simplistic illustration. A quick look at market share might show that our firm is way ahead of the competition. And yet, we know that a start-up company has won three of the last five contracts for which we have competed. Not enough to move the market share needle but could signal trouble down the road. Situational awareness would have us take immediate action to understand why they are winning, and we are losing, and then do something about it.

Situational awareness from an entrepreneurial perspective involves a deep understanding of our customers and what makes them tick. Customer satisfaction surveys help in this regard, but we may need more than data. In person meetings are the best for getting a good read on our customers. If not in person, the next best option is a phone conference. At the root, we are looking for little tells that might indicate whether our customers are 100% in our camp. We encountered a situation a few years ago where we thought our client was totally satisfied with our services. Our team was convinced that we had performed as well as or better than expected. And yet, I had a gnawing feeling that something was amiss. When we dug in deeper, we learned that the client was hiring a competitor. The reason had nothing to do with our performance and everything to do with the fact that a corporate decision had been made to consolidate its business to a national company. I have always wondered whether we might have saved the business by doing some things in a radically different manner had our situational awareness enabled us to act sooner.

Finally, we must keep our finger on the pulse of our team. Are we on the lookout for signs of tension, boredom, or anxiety? It is easy to get caught up in the day-to-day chaos that we all experience and miss the signals that are flashing relative to our team. Perhaps an outgoing team member who normally participates in company activities gradually pulls back and is less gregarious. Without situational awareness, we could easily overlook that this individual is headed for the exits until it is too late. Realizing this sooner might have given us a chance of resolving whatever issue is causing our teammate to look elsewhere.

Situational awareness at the entrepreneurial level requires a certain degree of intuition. But even more important is our being intentional about having a deeper understanding of what is happening around us. Then we are less likely to unwittingly step off the cliff and into the abyss.

The Mind Control Entrepreneur

Posted on September 28, 2025 by anentrepreneurswords

I am sure that it is no surprise to know that the most powerful machine on earth is the human mind. A quick check on the Internet reveals many fascinating facts about the brain. How accurate they are is up for debate, but interesting, nonetheless. For example, the brain can store an estimated 2,500,000 gigabytes and operates with 86 billion neurons that travel 150 miles per hour. The average attention span is 20 minutes (12 minutes shorter than 15 years ago), and we are finding that easy access to information is making it harder to remember.

Entrepreneurship is a mind game – maybe close to 100%. How we manage our thoughts has a direct impact on our probability of success. I know people who are brilliant at a genius-level but cannot function in society. Emotional and psychological issues are too much for them to overcome. For most of us, however, mind control is a learned behavior. We have the capability to fine tune the way we think in such a way that our mind-power is amplified.

Our thoughts and emotions are inextricably linked. I have found when my emotions overwhelm my thinking nature, that’s when trouble begins. We entrepreneurs are especially vulnerable to a wide range of emotions that can run rampant and wreak havoc. Think about it. We learn that a major customer is taking its business elsewhere, and immediately our mind may go to the darkest possible depths. We see our business collapsing; the bills cannot be paid; our key team members see the writing on the wall and bail on us; the bank calls our loan, and on and on and on. What is worse, we may begin making decisions based upon the fear that is manifesting from the loss of this customer. Panic ensues and our thinking is so clouded that our decision-making process becomes impaired.

Back in the late 1970s, I started flying every week. In 1981, we had our first child, and I allowed my mind to play tricks on me. I became obsessed with the notion that the odds were going to catch up with me and I was going to die in a plane crash leaving behind my wife and young daughter. It literally got to the point that I would become physically ill each week, forcing myself to get on the plane. Eventually I was able to understand and resolve the root of this fear and as a bonus, became a pilot and flew my own aircraft. One of the reasons I was inclined to do this was to put myself in a situation where I had to practice mind control, or the consequences would be dire. Panicking in an airplane at 10,000 feet can certainly accelerate the expiration date on a human being!

Here is what I learned from this experience. Most of the time, things are not nearly as bad as we imagine them to be. It is easy to blow negative (and positive) experiences out of proportion. I learned that before making decisions, I need to pause for a moment, step back, and assess the situation. This may sound obvious, but we often overlook the obvious. Now, decades later, I refrain from making important decisions if I am fearful . . . and if I am euphoric. I wait for the emotions to pass and then proceed accordingly. Finally, I learned to try and get to the bottom of why I feel the way I do. Why am I angry? Why am I thinking thoughts of lack and limitation? What is the source of my fear? Why am I so “over the moon” with joy about something that has happened? In some cases, I want to control my mind to eliminate the negative thoughts, and in other instances I want to allow my mind to replicate the positive thoughts that resulted in my good fortune. Deep breathing, saying positive affirmations, and meditation are very helpful in making this happen.

As entrepreneurs we will always experience a wide range of emotions. The test of our fortitude comes when we can control our minds in such a way that we do not allow our emotions to overwhelm our ability to maintain our equilibrium and make sound decisions.

The Get-Rich-Quick Entrepreneur

Posted on September 21, 2025 by anentrepreneurswords

If I had a nickel for every book on how to get rich . . . I would get rich quick! I have spoken with countless entrepreneurs who wish they could find a sure-fire way to get rich quick – though none of them have ever succeeded. The notion of getting rich quick has been around for my entire adult life. Thankfully, I never paid much attention to it because I believe that it is unlikely to happen. When I was in high school, some of my classmates were all abuzz about a series of poker games in which they were participating. This was in the late 1960s and early 1970s and conversations went something like this, “Wow! Jack (names have been changed to protect the not-so innocent) won $340 and Sam lost $460!” Oh, and by the way, the guy who won $340 lost it all and more a couple of weeks later.

For some reason interest in getting rich quick seems to be snowballing. Take cryptocurrency for example. I recently heard an entrepreneur talking about “investing” in one of the major cryptocurrencies which has seen extraordinary highs (and periodically falls off the cliff) in the past few months. I shake my head because this is pure speculation, not investing. Generally, speculators are looking for a quick score. Lottery ticket sales are skyrocketing especially as the jackpots reach stratospheric levels. The online gambling industry grew from $37.5 billion in 2015 to a projected $121.29 billion in 2025 according to Grandview Research.

Yes, there are anomalies – an entrepreneur here and there who invents something or develops a software application – and nearly overnight, this individual is filthy rich. But remember, for every example (the media only reports about these anomalies) of a get rich quick success, there are millions upon millions of us who do not get rich quick. The sensationalized nature of these stories becomes a siren song to entrepreneurs who have been laboring for a long time trying to get ahead. I am here to tell you . . . do not be swayed by the song you may be hearing. Often, those who try and play the get-rich-quick game end up in a worse position financially and have even developed unhealthy addictions that can ruin lives.

I know that the advice I am about to give is going to sound old-fashioned but trust me when I tell you that it is as sound today as it was in 1975 when I launched my career. There is no free lunch. You can dream about becoming rich all you want, but it will not make you rich. Skip the schemes and concentrate on your passion. You will have to make sacrifices along the way. Some may involve time while others may be financial. When we are younger, we tend to be very impatient. We want to take a helicopter to the mountain top rather than trudging through the thin air, slipping and sliding with every step. I have said it many times before, but when I chased the almighty dollar, it was always just beyond my outstretched fingertips. And it was frustrating beyond belief. After I began concentrating on living my passion for reasons other than making money, I began making real money. By then a couple of decades had passed in a flash and I was working a lot smarter and effectively. There were still setbacks along the way, but I rolled with the punches and persevered.

There is no silver bullet or magic wand. It is still all about hard work (and eventually “smart” work), resilience, maintaining a positive attitude, and keeping the passion front and center. You probably will not get rich quick. But you will have a fulfilling life and may eventually accumulate the wealth you seek.

An Entrepreneur's Words to Live By

Lifechanging Ideas for Entrepreneurs

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