One of the greatest gifts of my job is the opportunity to meet entrepreneurs. A couple weeks ago, I was fortunate enough to talk entrepreneurship with Barnett Helzberg, Jr., former CEO of Helzberg Diamonds. Turns out this iconic entrepreneur, who’s sold a company to Warren Buffet, knows a thing or two about entrepreneurship.
In the entrepreneurship and economic development realms, the word “high-growth” is tossed about loosely, often used to define that rare, illusive, overnight success of a startup. But a recent study by Kauffman has proved that high-growth firms aren’t as hard-pressed to find as we thought … so long as you’re looking in the right places.
The once easy choice for many of going from high school to some form of accredited higher education is becoming less of a forgone conclusion simply because of the economics and by the entrance of for-profit schools of varying types; including alternative options to college altogether like the UnCollege movement and the Thiel Fellowship program. The entrance of these new players (entrepreneurs) will impact some traditional sources of higher education and certainly challenge our obedient consumer consensus that a ‘traditional’ education will best serve my progeny.
At age 25, Laura Sanko was a founding member of a startup that raised $3.5 Million from some world-famous investors and the Founder’s Fund. The business model was simple: a website that rented high-end jewelry for special occasions for a fraction of the retail value of each piece. Three years later, the investment money was all gone and while the site continued to operate, it had failed to meet the investors’ expectations.
I had my reservations about starting the Top of Mind video channel—mainly because there are a lot of good sources for observations and opinions on the increasingly popular topic of entrepreneurship. But we have proceeded with this effort because one of the rare privileges I have, by virtue of my position and the work we do at the foundation, is being granted access to events and thinking that are not common to many.
I recently read an article on Forbes.com about the ups and downs of being an entrepreneur’s spouse or significant other. It brought me back to my own entrepreneurial endeavors and reminded me of a few coping mechanisms my wife of now 23 years and I picked up along the way.
When I was a wee lad in the ancient times of the 1970s, I remember an old commercial for Tootsie Roll Tootsie Pops that asked how many licks it takes to get to the center of their delicious lollipops. At the Foundation we are posing a similar question with a modern, caffeinated, twist and applying it to a slightly more constructive purpose.