Foot-In-Mouth-Itis (Less Talk, More Bizzy!)

Yesterday morning in my Family Business class at Dalhousie, my professor took the liberty of introducing himself (along with his assistant and co-professor) before he turned the tables, and asked for each student to do the same thing, along with explaining their interest in the subject of Family Enterprise (aka - if we grew up in, or are associated with one).

I was one of the first students to stand and explain myself. It went well. I described that I grew up in a family business (construction and real-estate), and that I currently am a Marketing Director for one of my fathers companies. Most students had a similar upbringing, but in various sectors (construction, marketing, medical, etc...).

There were approximately 25 people in the class, and around halfway through, this guy stands up and basically goes off on a complete rant about his future plans. The information I extracted from his speil included that:
(a) he has no experience with family business, but he claims to have read some "real-estate books" over the summer and plans to build an empire to hand down to his children one day (thus, this is his apparent interest in family business). He then points around the room and, "seriously recommends that we all read Rich Dad, Poor Dad".
(b) As he sits down, everyone is kind of just looking at him with furrowed brow. The professor then laughs good-naturedly and asks, "Is there anything else you want?" and this guys proclaims, "I'd also like to win the lottery".

Okay. I am all for ambition, goals, and vision, and I am not criticizing this guy in any way. But I think he failed to realize that most of the people in this class grew up in the whirlwind of a family enterprise to some degree, and by default, they pretty much know a thing or two about the struggle of entrepreneurship and/or corporate business.

It's so easy to say you are going to be the next Donald Trump, or whomever, but it is a completely other thing when you actually begin the uphill battle of obtaining even a small slice of what such moguls have created. It is entirely possible, of course, to obtain anything you want - and I am a firm believer in that. But it is another thing completely to go around proclaiming these notions to everyone around you. Why would one do that?

My advice: If you are going to do something - anything - then do it and don't just sit there talking about your imaginary private jets and yachts in 40 years from now. It really takes away from your credibility. Inflating a superficial image of who you will one day be only sets you up for a huge downfall (aka foot-in-mouth-itis). Going around claiming you are the next Bill Gates only makes you sound extremely naieve and discourages people from wanting to help you, because in essence you are threatening them with potential power.

So, therefore, plan all you want, set the biggest goals for yourself - but have a realistic approach to attaining them. And refrain from flaunting these huge goals to every Tom, Dick, and Harry. They probably don't care and you'll just come off sounding like an inexperienced jerk. Anyone can say they are going to be something. Only a select few have the wherewithal to actually do it.

I think this is great advice for any entrepreneur. I have had several friends (and yes, I am guilty too) who do more talking then acting. From personal experience, take this from me.

PS - And in no way am I knocking Rich Dad, Poor Dad. They're great books :)

Keep Bizzy!

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"JUST DO IT"

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