Advice for Entrepreneurs, Data and Economic Statistics, Economic Development Resources, Strategic Advisory, Technology, Software
The primary purpose of this blog post is to ask you if you can articulate WHY you do what you do. If you can’t, I‘d suggest you take a few moments to check out this link to Simon Sinek’s Ted talk. https://www.youtube.com/watch?v=l5Tw0PGcyN0. He is the author of “Start with WHY”, which discusses how starting with the WHY as opposed to WHAT and the HOW will inspire greatness.
The WHY of what I do what I do starts with an observation my friend and former client Ed Wagner once shared, that is “There are two types of people in the world, Clock Builders and Time Tellers”. For me the choice of which type of person to surround myself with and work for was easy. I definitely prefer the clock builders. The clock builders are the ones that not only have great ideas but also and more importantly they execute on those ideas to build enormous value. As Steve Jobs once said, “ To me, ideas are worth nothing unless executed. They are just a multiplier. Execution is worth millions”.
I’ve always had the utmost respect and admiration for entrepreneurs that turn their ideas into going concerns that create value, jobs and ultimately personal wealth. I watched my Dad do it and it inspired me to pursue that path for myself, most recently as the President of Mirus Capital Advisors.
Beyond that, I believe what primarily drives the US economy and its competitive advantage can be found in the approximately 6 million small businesses that are responsible for countless innovations and 60% of net new jobs created since the end of the recession and the 63% of the net new jobs created between 1993 and 2013. Speaking of innovation, in a recent http://www.ipwatchdog.com/2014/04/25/why-patent-reform-harms-innovative-small-businesses/id=49260/ IPwatchdog article, they represented that Small business creates about 5 times more patents per employee than large firms and 20 times more than universities. And that small technology firms employ 38% of all scientists and engineers in America (54.8 percent of all industrial scientists and engineers).
These types of contributions to our economy and society make me even more passionate about the privilege of working with and for small business owners as they grow and ultimately exit their companies. They inspire me, give my work purpose and ultimately make my job enormously fulfilling.
They are the WHY of why I do what I do. For instance, I recently had the privilege of representing Greg Maclean and Mike Spellman, the co-founders of Magestic Systems in their sale to Autodesk. http://merger.com/transactions/autodesk-acquires-magestic-systems-incorporated/
These first time sellers, bootstrapped their Company over 20 years into becoming one of the leaders in providing integrated manufacturing software solutions for advanced materials and metals. It was an incredibly rewarding experience to not only help Greg and Mike exceed their personal financial goals but also their longer term professional goals of being in a position to see their technology proliferate globally, as part of Autodesk. You can hear more about how we built a strong personal and professional relationship with the Magestic founders, which ultimately made them comfortable throughout the entire process and led to a highly successful engagement. http://merger.com/videos/.