The Reluctant Entrepreneur: Turning Dreams into Profits

MUST YOU BE CUTTHROAT TO SUCCEED IN BUSINESS?

“I come from a poor family. I want to start a business and make money to help them. But when I see successful businesspeople depicted on TV and in the movies, it seems like lying and cheating and screwing people is the way to go. I’m worried. Is that what I’m going to have to do?”

This question was posed just after I had given a presentation on entrepreneurship to a group of MBA candidates at Florida Atlantic University. I was momentarily startled by the question. I was sure I hadn’t said anything that suggested success in business required a cutthroat approach.

Still, the question was understandable. When Hollywood depicts business and businesspeople, it is more often than not in a negative light. And when Wall Street, the banking community, and the insurance industry screw their clients—as they’ve done so notoriously—how could any young person think any differently?

So I told the young people in my audience what I’m about to tell you.

It is definitely not necessary to be bad to be good in business. But the path to business success—and this is especially true for small businesses—is booby-trapped with temptations to do the wrong thing.

I have been starting and growing businesses ever since I was a teenager, and was never tempted to violate my conscience until I went to work for a South-Florida direct-marketing company when I was in my early 30s.

During my time there, I accomplished a lot that I am still proud of. But I also got involved ...