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The American Dream: Not Just For Dreamers Anymore
The reality is that few of the people I know in the internet business cashed out in a big way and far fewer went on to build another company that was as successful as their first one. And dotcom superstars such as Steve Case of AOL, Jerry Yang of Yahoo and Mark Cuban of Broadcast.com have all seen better days.
My point is this: While the purpose of every company is to make a profit, the goal of every entrepreneur has to be more than just making lots of money. Especially in an economy like this one–where startup companies are struggling for survival and an IPO or acquisition could be years or even decades away–it’s important to enjoy what you do at your business. Because you’re probably going to be doing it day in and day out for a long time to come.
That’s why I was so impressed when I heard Devon Rifkin, 33, speak last week at the conference. Rifkin is CEO and founder of The Great American Hanger Company, a Miami manufacturer, wholesaler and retailer of high-quality clothes hangers whose company rang up over $10 million in sales last year. Rifkin was honored as Entrepreneur Magazine’s 2008 Entrepreneur of the Year.
Here are some of Rifkin’s thoughts on life, business and entrepreneurship:
• Secret to success: “People commonly ask me why I work so hard. And the reason I give them is that it’s one of the only things I can control. There are very few things in business that you can control, so I try to master the things that I can control.”
• Advice for other entrepreneurs: “I would tell them not to focus on making money. If you believe in the idea, you need to focus on the equation and your business.”
• When he knew he’d made it: “I know this business has had a good run of success, but I’ve never felt like I’ve ‘made it’ because I feel like there are still a lot of things we have to improve and a lot of things we have to obtain that we haven’t obtained yet.”
Unfortunately, goals like these can’t always be measured in dollars. But when you’ve climbed the mountain of business achievement and reached the peak of personal satisfaction, I think you’ll know that you’ve arrived.
Photo by Mattox.
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Jaclyn on December 23rd, 2008 1:59 pm
That was one of the most honest reads in a long time. and so very true. I’ve said it before several time’s, what ever you decide to do for a living wether it be in business for self or working for someone else…you had better love what you do, otherwise after a while it will turn into more of a chore and drag your butt to work everyday rather then being excited to bring your product or service to people everyday.
selena d on December 23rd, 2008 10:47 pm
I am a newcomer to all of this and want to get basic information to build business. I do agree that money should not be your focus when building a business. I believe that your heart should be in your mission! I look forward to reading your other articles.
Cafebisnis on December 24th, 2008 3:52 pm
Still learning to build my business, and round and round find the the right information,
Keep writing!
cassy on January 2nd, 2009 9:00 pm
many people from the other country said, inorder for their dreams to become true and real is to goto USA, i dont know why!i have a friend too who stay in the USnow for almost 10 years now,also says that america is a good oppotunity to find and reach your dream. and i ask her why she said that, she says coz america has all what it takes,money,good salary,good business and the goverment help the people find jobs thats what she said to me.and i said ah ok! now that US is suffer from economic crisis many was affected losses their jobs and one of it is migrant workers like my friend,she was kick from her job and now she is planning to go home here in our country and try to find her luck! now is it true that USA is the place for those people who wants to have a good life and make their dream in reality? im just asking!
Accounting Firm Toronto on March 18th, 2009 8:32 am
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