Blue Elevator Blog

My Quest – The Secret To Business Success

This is a story about my quest to find the secret to business success.

If you’re curious about learning the secret, I invite you to go on a journey with me.

I have a story to tell about one of my passions and my quest.  Then, I will share with you how this became my mission.

But before I reveal the secret and my mission, let’s begin with my story.

Backstory

When I was a little boy, I distinctly remember hearing my parents discuss things at the dinner table.  Often times, there was discussion about cars and finances.  Cars break down and need fixing.  And you need money to buy things.  Sure, there was plenty of discussion about fun things.  And we always shared the events of our days.  But, I remember my parents’ continual angst about cars and money.

“Man, when I grow up, I should either learn to work on cars.  Or, I should learn about managing money,”  I said to myself.  I figured that mastering cars or finances would help make life easier.  This was probably the beginning of my quest.

Working Hard

I began working at an early age.  And, this hard work was what fueled my desire to make money.  One of my first jobs was to scrape the old paint off the “flower house,” as my parents called it.  We had a plant nursery made of wood.  And, it needed repainting.  If I scraped it well, I would earn a new toy pistol that would fire caps; Not the paper kind of caps – but the cool kind of caps that came in a plastic ring.  Many of you have no idea what I’m talking about.

My first pass at scraping paint went very quickly.  I was more interested in getting the toy gun than doing a great job, so it seemed.  After a lot of coaching from my parents – and frustration on my part – I would learn how to be thorough.  Finally, after much trial and error, I earned that toy pistol.

I held many odd jobs as a kid.  My “big” break came at age 11.  God blessed me with a pretty big paper route.  I delivered for the Orange County Register and the Fullerton New Tribune.  These routs would afford me a life of luxury in the 1970s.  In a good month, I would make $60 or so.  And that would buy me as much Bubble Yum, Now & Later’s, Slurpees, and candy bars as any young man could handle.  And, I still had enough left over to save up for things like bicycles and skateboards.

My Quest Begins

In high school, my odd jobs continued to fuel my desire to have pocket money.  But, it was also during this time that I began to wonder about things.

We all probably knew some people who, at a young age, become interested in mechanical things.  They wondered how things work – like how a clock keeps time, or how to take things apart and fix them.  Or, maybe how to make a go-cart run or fix a broken lawnmower motor.

But not only was I interested in mechanical things, such as fixing things like clocks or motors; I also began to wonder about different mechanical things, like business.  How does a business work?  What makes a good business?  How do people start businesses?  How do people decide what to make or sell?  And how do they go about advertising or selling these products or services?

College

After high school, I enrolled in the School of Business and Economics at Cal State Fullerton.  And, by the grace of God, I graduated at the top of my class with a degree in Accounting.  At the suggestion of my first Accounting instructor, I set my sights on becoming a CPA.  My instructor suggested I shoot to work for one of the Big 8 Accounting firms: PriceWaterhouse; Coopers & Lybrand; Ernst & Whinney; Arthur Young; Arthur Anderson; Peat, Marwick, Mitchell; Deloittte, Haskins, & Sells; and Touche Ross.  Those were the Big Accounting firms in the 1980s.

And, I did pursue getting a job in the Big 8 firms.  What better place to learn about business than to work for one of the Big 8?

Thank God, some of the Big 8 firms pursued me.  Plus, while in college, I passed all four parts of the CPA exam.  This was another blessing.  So, with my degree in hand and the CPA exam behind me, I went to work.

Coopers & Lybrand

I started my professional career as an auditor for Coppers & Lybrand at the age of 22.

I would learn how to audit the financial statements of all kinds of companies.  I would also be continuing my quest: To learn everything I could about business.

And, I did learn how to read and draft financial statements.  Plus, I learned how to evaluate and design all types of internal control procedures.  In my early 20s, I was speaking to company presidents and advising CEOs how to set up their businesses.  I also worked on things like: “Should Company A buy Company B?”  I worked hard, long, and late on all kinds of engagements.  I even worked on an IPO (e.g., Initial Public Stock Offering).  And, I probably saw and encountered more companies during my time at Coopers & Lybrand than most people would in a lifetime.

Additionally, I enjoyed the advantage of experiencing things from the inside-out.  Meaning, I got to see how business worked from the “inside” of a business.  As an auditor, I looked through all of a given company’s financial records.  I was able to see how things ran from an internal perspective.  You see, these companies and their Boards hire “independent auditors” (CPAs) because they have to.  A company’s stock exchange might require them to hire an auditing firm.  Or, a company’s bank or lender might require it.  Or, the Board of Directors or a fiduciary might require an audit.

The Business Of Business – And There Was More

Finally, after leaving Public Accounting, I would spend an additional 20+ years working in various other types of businesses.  I held positions such as Financial Reporting Supervisor.  I also traveled internationally to correct things no one else could.  Then, I would later serve as an Underwriter for an insurance company.  Additionally, I would begin working my way into C-level positions.  I served as Controller.  Then as a CFO.  And eventually, as a General Manager.

This entire time I was learning, learning, and learning.  I would like to tell you it was all fun.  But, it wasn’t.  It was hard work.  And the lessons, at times, were painful.  I was blessed to learn what works – and what doesn’t work.  Sometimes, I succeeded.  And sometimes, I failed.  But, the big questions were: Why did it work?  Why did it fail?  Was is a bad plan or bad execution?  Or, was it both?  And, would it work under different circumstances?  These questions fueled my quest.

What Did I Learn?

I learned a lot.  My quest was to learn everything I could about business.  My goal was to find the secret to business success. When I was working, I was also searching for that certain magic formula.   I was in search of business alchemy.  Do you want to find out more?  Stay tuned.  Or, contact us if you’d like to read ahead.