What is truly important in life? Why are we here? Interesting questions that have been debated endlessly by philosophers all throughout history. Some say it’s really just what individuals want, what brings happiness to them (within the bounds of what the society they live in finds acceptable through the laws, regulations, and to an extent, social norms that have emerged). I’m largely in that camp, but it bothers me that today’s world seems to prioritize selfishness and accumulation at any cost over win-wins. Innately, most people gain a great deal of satisfaction from helping their fellow human being. A child typically wants to do good by their parents, imitate their behavior, and gain attention & praise. Often, it is only when this is lacking that they turn to negative behavior. An interesting Psychology Today article highlights compassion, not self-interest, as being our first instinct: https://www.psychologytoday.com/us/blog/feeling-it/201306/compassion-our-first-instinct In the modern world, driven by competition and economies that are centered, nearly worldwide, in the Capitalist mentality of self-interest, it’s interesting to consider psychologists’ views on the matter. Regardless of the innate drive or leaning, and it’s arguable, it’s odd that our society encourages the opposite mentality to be adopted.
Regardless of where modern psychology stands on the issue, even as a kid I wanted to provide value for others and make good money in the process. I thought it through, and figured that would allow me to live a good life in relative comfort, provide the same for my family, and be happy due to the fact that I brought an out-sized amount of value to others through building businesses around products and services that I would come up with, and help others do so by providing the needed capital and advice to others who had great ideas, but didn’t have the resources to pursue them. This desire to eventually start a Venture Capital firm came after a good deal of consideration. In thinking about it, it seemed to me I should learn what it’s like to do manual labor, to do sales, to work in the various positions that others would in the business(es) I would start. Eventually, I figured an exit or two from a startup could produce the necessary capital. In college I ran a residential painting franchise which was an internship, and after mulling on a conversation with my girlfriend at the time, I got a better idea.. Unfortunately, the very thing that was supposed to allow me to get the capital to fulfill my dreams and allow me to do the same for others who desired to be entrepreneurs wound up delaying that eventuality. I’ve faced some unique hardships as a result, but I will start and run a successful VC firm in due time.
You see, I had initially thought about being a surgeon, as my maternal grandfather was a pediatrician. He had a home on a small peninsula that juts out between two small bays of Lake George with my grandmother. That peninsula provided a great view of the majority of the lake, straddling the border of Indiana and Michigan. It’s a relatively quiet, rather small lake. My sisters, cousins and I would go out fishing on a steel boat with an outboard motor during summer vacations there and catch the abundant snapping turtles, sometimes frying Bluegill or Catfish for dinner. Dr. Keyes would explain how the circle of life at the lake functioned, the anatomy of the fish and turtles etc, to a wincing 5-year old me, as I didn’t like the sight of blood or seeing fish being skinned, but I understood it was an important lesson in the realities of the world we live in, and I had considered the fact that I’d be dealing with it a lot if I were to be a surgeon when I grew up. Dr. Keyes was full of wisdom, but somehow simultaneously, always joking. Sarcasm was the norm with him, and his level of patience for us was truly remarkable. I asked him about it once, and he simply explained that after dealing with kids at work all the time, our antics just didn’t really bother him, as he learned to block it out when he felt like it, plus he enjoyed getting to joke around and feel young again, anyway.
My paternal grandfather was a car dealer. He had worked at Ford Motor Company for decades, doing what he referred to as “calling on” dealers after originally being hired to manage punch cards for early computers, which he hated, but did for years after WWII and getting out of the Marines to pay the bills. He would travel around the country visiting with Ford dealers and looking over their business, informing them of new things the manufacturer was doing, and providing advice on behalf of the company that would help improve their business. This had allowed him to learn exactly how Ford intended for their dealerships to be run, and proved invaluable when a dealer that he had been close with became ill.
The guy had liked my grandfather and recalled him talking about how he would like to run a dealership of his own one day. So, he sat him down and asked him if he would like to take his over, since he couldn’t run it anymore. He talked it over with my grandmother, leveraged everything they could and took out loans to come up with the money. He had always lived frugally and saved, but it was still an outsize investment for them. Turns out the knowledge Ford had him distribute to dealers around the country was invaluable, and he went on to own dealerships from several other manufacturers. I discussed my ambitions to be a doctor with him, and I’ll never forget his response: “You could make a lot more money starting a business.” He didn’t understand! I thought, I wanted to make a lot of money, but I figured the money I could make from being a surgeon would be enough. I really was more interested in doing things to help people, and I didn’t see how running a business would allow me to help anybody or save lives. The more I thought about it, running businesses, building things (which I always enjoyed), actually could allow me to help people. In fact, the more I thought it through, it could allow me to help a lot more people than being a doctor would! I could make even more money, and help a lot more people in the process, if I were just to do it in certain ways. My mind was made up, I would eventually become an Entrepreneur. I thought about going to medical school and then proceeding to run my own surgical practice, but after his comment and further consideration, I felt it was too limiting. I never liked being stuck in any one thing for too long, and I figured being an entrepreneur would allow me to pivot, learn about, and build all kinds of different things that would solve problems and improve peoples’ lives.
While I was ready to take on the world as a kid, I went through the rebellious phase that many young men do. We’ll save those stories for another day! In my free time, I always loved computers, and being an introvert, spent a lot of time on my personal computer at home. Don’t get me wrong, I enjoyed going to parties and social events, I had a healthy number of friends, played golf, mowed lawns and shoveled snow after knocking on doors for clients to earn extra money etc, but I’ve always been obsessively curious. Wanting to understand exactly how things work, taking computers and appliances apart and putting them back together, drawing up ideas for products I wanted to make or business ventures I’d planned to pursue were common activities for me back in high school.
It’s interesting how time flies. In college I was running a small business painting houses and had started a fraternity chapter. I wound up graduating with an Associates Degree, took a break to work on some other projects, and then came back to school to finish my Bachelors Degree in Economics. In the years since, I’ve worked in sales in several fields, started a marketing consulting firm as well as selling renewable energy systems and home improvements centered upon improving energy efficiency and disaster-mitigation in partnership with multiple companies.
To come back to the point, does there need to be one? Many would say finding happiness, putting yourself in a situation that you are satisfied with is what matters in life. As I mentioned, to me it boils down to what motivates you and what you enjoy. To each their own, so to speak. I still have many things that I want to do with my life, but being in a field where I can help people to save some money and enjoy what is often their most valuable asset: their home, with their families and be protected from disasters like hurricanes is rewarding. I’ve always kept my ideas for products and businesses to myself in the past, but I am going to begin talking about some of them on this website. One that I am excited to announce is StartupProfit. I’ll be writing articles there regarding startups that I’ve analyzed and their potential for success, or failure. I figure it will be a good exercise for learning, building and utilizing some of the tools that will be useful as a VC down the road. Feel free to follow along, although none of it is investment advice!