Picking Up Steam Now
Wow, have I strayed off the path here. I thought I was blogging about building the business, and here I am bearing my soul… yikes! I suspect I should get back on track before I bore people to death.
My entrepreneurial career has never been easy, and has been fraught with peril at every turn – but I suspect most small business owners could say the same thing. It is clearly not a lifestyle for the “faint of heart”. I tend to want to fill gaps where there is a need and no product or service to satisfy, as opposed to just building a better mouse trap. The idea of being first or unique is what gets my juices flowing, but there is a down side to that.
When you are pushing an idea that did not quite exist before you came up with it, you are subject to needing to do a lot of education. You must first educate the market that your product or service is needed, and then… of course… that you have the solution to satisfy this need. In most cases, that need is in the form of a persistent problem which has been difficult to solve. Find a problem that continues to plague an industry or customer group, create a solution, and the fun begins!
During college, I wanted tennis lessons, and there were few teachers that gave private lessons that I could afford – making an opportunity for me to learn it well enough to teach others. Teaching tennis paid my way through college.
My first company after that was an RV Rental business – I wanted to rent an RV for a golfing trip down south, and demand well outstripped supply in the Pittsburgh area – so not only did I buy one to rent out to others, I convinced others to let me rent their RVs out, for 60% of the profits.
From there, I created golf league software since such an animal did not exist at the time. One important bit of trivia on that endeavor… I did not own a computer at the time. I hired a student from the University of Pittsburgh to write the program based on my scribbles on a yellow pad of paper. When he finished the program (floppy disks were actually floppy back then) I STILL didn’t own a computer. I put a classified ad in the back of Golf Digest magazine, and once I sold enough (he made copies for me), I was able to buy a “portable” computer – it stood 2 feet tall, and weighed a ton – and had a HUGE hard drive of 10 MB (that’s not a typo – it was MEGA bites). I never thought I’d use up all that space ☺
From there we branched into logging all collegiate golf statistics for the NCAA women’s golf program nation wide (business is all about building connections – even if you have none to begin with), and that paid the bills for a few years too.
All of these business efforts were ongoing while I was holding down a real full time job, with 3 kids, and finishing my masters degree at the University of Pittsburgh (on my own nickel). This is why the 80s are a big black hole for me – I literally didn’t listen or follow music or TV for about 10 years while I was on the business building trail.
Once I completed my Masters program, I hung my shingle as a healthcare consultant – this was the long term plan from the first week I was in graduate school. It took me 5 years to finish the school work and the internship (given the other businesses, school and the full time job), but I did finish. It took me a year to land my first consulting gig – which I promptly used to develop the software that would help me in successive engagements – allowing me to then hire others that could use the software, and produce the same results.
This principal would become one of the guiding principals that allowed me to grow – that is, to always develop your business, products or services so that you are not the only one that can do that work. Of course, you must first understand it and validate that the product works, the service is needed, or the method is effective – that’s a given. However, once that is done, as early as possible I would get someone involved to transfer this knowledge, and make sure it was reproducible by someone other than myself. Otherwise, I would limit my growth and earning power to the ability one person – me. This is not to mention the fact that I would have no chance of having “a life” outside of work if I didn’t do that.
In the case of the first software product, this took about a year to complete, and make it ready to sell to others. This consulting firm still exists today - as I sold it to the employees after I developed the software that helped guide the consulting practice. This move into software development though, took me from the service sector, to the product and technology sector.
Next blog… the gold ring finally comes in reach, leading me to present® times…