This week on the Praxis blog, we’ve been featuring highlights from our Fall 2014 Opening Seminar at Seabrook Island. Among the many inspiring entrepreneurs who joined us to share his insights was Levi Morehouse. Levi is the founder and CEO of Ceterus, Inc., a company that manages back-office functions for small businesses so they can focus on their mission, clients, and profits. Prior to founding Ceterus, Levi founded and serves as a director for Caremore Home Care, Inc. and Morehouse Properties, LLC. He also served as a Controller for Midwest Refrigeration Systems, Inc. and a Staff Accountant at Plante & Moran, PLLC. He is a Certified Public Accountant, and holds a Bachelor of Business Administration with a major in Accountancy from Western Michigan University.
Here are just a few of the highlights from Levi’s talk:
1) QT is what it’s all about!
Entrepreneurial freedom is about spending your time in a way that fires you up. Quality time is what all people are striving for. That can mean sitting on the couch watching Monday Night Football with your friends or it can mean staying up past midnight analyzing financial statements before you close an important deal. It’s not about having lots of time or a certain kind of job, it’s about living your life the way you want to live it,
2) The entrepreneurial life is not all glitz and glamour. It comes with a cost.
If you want to do something great, if you want to build something important, if you want to work on your own terms, you’re going to have to put up with a lot of shit. You can embarrass yourself. You can fail. You can lose money. You can spend time doing lots of hard work and your plans may go nowhere. If you can’t take risk, discomfort, or hard work, think twice about being an entrepreneur.
3) Some call it like it is. Others call it like they see it. Entrepreneurs call it like they want it to be, then they find a way to make it a reality.
Entrepreneurship is selling something that doesn’t exist yet and then making it happen before it’s time to deliver. Sometimes you gotta sell it before you got it, but you damn sure better have it if you sell it.
4) Take calculated risks.
Don’t gamble for the sake of gambling. Know what you’re doing and take the appropriate actions necessary to make it happen.
5) The time to fail is now.
The safety net for failure is better than it’s ever been in human history. Risk is real, but risk has never been less risky. We have so many tools at our disposal, that it’s easier than ever to recover from failure.
6) Treat entrepreneurship like a game.
Don’t take your work too seriously. Some days I imagine I’m trying to make it to the Super Bowl. Other days I imagine I’m living out the entrepreneurial version of ”Game of Thrones.’ Find metaphors, tv shows, sports analogies, or anything else that motivates you and helps you to get more fun out of your work.”
7) Find your sweet spot.
In Baseball, the bat has a sweet spot. The sweet spot is the area on the bat that gives you the greatest amount of leverage in your swing. If you hit the ball on the sweet spot, the ball goes farther without you having to swing as hard. Find your sweet spot. Your sweet spot is an element or environment that makes it easier for you to succeed. You have abilities, tendencies, and interests that will make certain tasks easier for you. Always pay attention to signals pointing you to your sweet spot.
8) Experience is the best path to self-discovery.
Finding your sweet spot is hard, but it can be done. A very small percentage of people find it. A very small percentage of people dare to look for it. Most people do what’s easy. They focus on surviving, making a little more money, staying where they’re comfortable. One of the best ways to find your sweet spot is through experience. I’ve learned some of the most valuable things about myself by working at jobs I hated. Knowing what you don’t like (and understanding why you don’t like it) can be just as important as know what you like.