John Richards On Entrepreneurialism In Utah
The Daily Herald posted a very interesting interview last night featuring a short interview with John Richards. John Richards is one of Utah Valley’s premier entrepreneurial activists and among our most respected mentors when it comes to starting and funding a business. John is partner with Utah Angel Investors, chairman of the Provo Business Development Corp. and sits on the board of directors of the Utah Valley Entrepreneurial Forum.
In the interview, John discusses the plight of the entrepreneur in recognition of the sacrifices that are made in order to grow a company. He also addresses questions about whether we are about to see a boom in entrepreneurial ventures, an what factors may be driving this including employment rates, age, and funding.
Treat yourself to a moment of insight from one of our local leaders: Local Entrepreneurs Battling Recession
A few of my favorite quotes from the article:
…I’ve known entrepreneurs who started by living on Top Ramen and sleeping on a mattress in their business office, and made sacrifices for many years to bring that dream to fruition.
…The No. 1 thing investors look at before investing is the experience of the management team.
…It’s a grievous error to turn down money just because investors want a bigger chunk of the company, especially if the entrepreneur could have grown the company with that funding. If someone is willing to give you money in this environment, take it.
…At some point in the next 10-20 years, the next Google or Yahoo! will come out of Utah County.
…Entrepreneurs who survive at a time like this will have much better chance of thriving when the economy recovers.
…It’s a great time to start a business now because it’s cheaper to build the business.
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I like the sound of this. I am a Utah county entrepreneur and hope to be the next google or yahoo!