The fourth CEO night at the University of Bridgeport brought together three prominent professionals who presented their perspectives on the general topic of entrepreneurship and starting a small business. The event kicked off with an introduction by President Neil Albert Salonen who highlighted the vital role of UB and the New England area known for its saturation with educational institutions. Professor Robert Todd from the Business School hosted the event and did a great job in warming up the crowd for the three presenters. The first speaker, Mr. Don Kaiser of Kaiser Whitney Staffing, used the Socratic Method (persuade with questions). He started with a guessing game on demographics to reach a rather simple truth, “Entrepreneurship makes money.” This, coming from a man whose brainchild became the number one firm in the USA and Canada based on profitability, carries some weight. Mr. Kaiser believes that the people most likely to start a successful business are first of all dreamers, risk-takers, critical thinkers, not afraid of being alone, and willing to put off spending today for the benefit of tomorrow. Fortunately, UB enjoys a student body that fits this description, so Mr. Kaiser received more than his share of questions.
Ms. Wyn Lydecker joined the discussion to clarify the essential ingredients that make a business plan work. She couldn’t stress enough the importance of an original product or service: “You know you are successful when people start copying you.” Ms. Lydecker took the audience step by step in the process of cooking up a business proposal. Her recipe has worked for clients worth six digits today.
“America is a nation of laws? Not true. It’s a nation of lawyers.” The last presenter, Mr. Cliff Ennico, a nationally recognized expert in legal problems, has only been in court twice, during swearing-in ceremonies. Moreover, his career goal is to keep his clients out of court. After presenting some striking statistics about the concentration of lawyers in the United States and their stereotypical image, Mr. Ennico warned prospective entrepreneurs against the consequences of legal issues. “It sometimes takes one lawsuit to kill your business.” Yes, the bad news is that the legal environment in the United States falls short of business-friendly so entrepreneurs need to be wary and take the necessary precautions.
The three presenters received certificates from the Dean of the Business School, Mr. Paul Huo. Each speaker brought in a unique perspective and the combined result was a very eclectic and informative presentation. For those of you who dream of independence but are afraid to take that first step, Mr. Kaiser has a thing to say: “It’s much easier to apologize for a mistake than to ask for permission.”