45+ Years Hands-On Experience, Good & Not so Good!
Thanks for visiting! As you can see, this Blog is just getting started. Its purpose is to pass on some of what I know − gleaned from a lifetime of "entrepreneurialism".
My name is Victor Lang. Mostly, I answer to Vic. With grown grandkids, I'm what many would call an "old guy"… retired for some years until I had reason to change my mind. This was mid-2018. A small woodshop has kept me busy, as my good wife of 54 years still does. Eight years prior, some 'Ticker' issues prompted my retirement, but all is good now. Then COVID postponed my 'un-retirement'.
The Catalyst: As a hobbyist and 'Maker' of sorts, I was regularly sourcing wood supplies, tools, equipment, etc. During these excursions, I encountered businesses, indeed a fair number that I thought needed help. More to the point, I could see that they would benefit from my 'entrepreneurialize' development help.
And so not only do we have a market need, but also a reason for this Blog.
I have long pursued entrepreneurial activity – i.e., as I have come to understand it – but I have never called myself an "entrepreneur".
Now ubiquitous, the term seems to have lost much of its exalted meaning. Once reserved for serial business creators, only the likes of Richard Branson of Virgin Brand fame were so anointed. Today, lamentably, anyone who 'hangs out a shingle’ or launches an Influencer profile is considered an entrepreneur.
In my day, as l recall it, the word "entrepreneur" was not a part of our everyday lexicon. A promoter, maybe; businessperson, yes − but do I remember calling anyone "an entrepreneur"? No! Furthermore, many current definitions emphasize 'risk-taking' as a primary characteristic. Although the premise of risk is subjective, I never had much of an appetite for risk − so in that sense, I guess I would never have thought of myself as an 'entrepreneur'. But neither was I a Richard Branson.
So, what am I? I decided to call myself an 'Entrepreneurialist'. As a practitioner, I apply 'entrepreneurial' principles to businesses and properties not meeting their performance potential. Still pursuing such dreams, I like to help others as well.
Having launched and promoted numerous business ideas within several industries and developed multiple real estate opportunities over the decades, I experienced the full spectrum of success. Therefore, I am confident I have something to offer.
Yes, I acknowledge many years have passed since launching my initial enterprise. But a minimum of analysis will show that despite our current superior technologies, many of the solutions that addressed challenges back then are still valid today. Inviting reader participation, I hope to have many conversations on the subject, exploring how these 'solutions of old' may be integrated or reapplied.
Full disclosure: As painful and embarrassing as it was, I 'went bust', twice. Both times, I was caught with my 'pants down'. In 1981, it was the result of interest rates rising to 21 percent. With Banks holding my guarantee on several million dollars of interim loan debt (real estate development), calling their loans was a typical Bank response. And then it happened again in 2011 after the 2008 'sub-prime' fiasco took its toll. I was in the middle of a new building-supply-industry business launch, and before I knew it, lenders were taking cover. Although I managed to hold on for several years in both cases, suppliers and the government eventually lost patience each time, leaving me no choice. Returning from these setbacks was an interesting experience. For those of you who may have an interest, I'm happy to share.
Back to 'entrepreneurialism': My 'eureka moment' came about (maybe ten years ago or so) when I came across the definition of entrepreneurship as proffered by Harvard Business School professor Howard H. Stevenson. The key was his take on the subject and his 1981 definition, "The Pursuit of Opportunity beyond resources controlled!"
To my surprise, this was as accurate a description as any that, by then, had been my 40-year business career. His definition described virtually every initiative I had undertaken. This Blog is to examine such experiences. Some of mine and yours if you like. In my case, we'll include the good and the 'not so good' and how I applied Professor Stevenson's conclusion. More importantly, I will try to remember techniques developed and lessons learned in a manner to benefit all who visit.
You are invited! Enjoy!
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