The Drawbacks of Consulting or: The Parable of the School Bus

I have done a lot of management consulting over the years. While the business can be lucrative, it has two major drawbacks: 1) the hollow grind of frequent business travel, and 2) the frustrating limitation of advisory agency. The first is self-explanatory, if you’ve ever spent week after week in placeless hotel rooms and dim […]

Transforming Resources into Assets

Resources are flecks of gold shimmering in the creek bed. Assets are blocks of gold stacked in a pyramid. Entrepreneurship is the transformation of resources into assets. 1 Let’s imagine that I inherited five one-acre parcels of land: one acre of land near Midland, Texas, another acre near Jackson Hole, Wyoming, a third acre in […]

Presidents Don’t Magically Create Jobs

Politicians love to talk about job creation. In the midst of a recession, politicians need to talk about job creation (preferably while wearing hardhats). Businessmen do not care about job creation. A savvy businessman does not go into business to create jobs, but rather to create wealth. In fact, a savvy businessman is dragged kicking-and-screaming […]

We Were Number One

All right, my fellow flag-waving, red-blooded ’mericans! Say it with me now: “We’re number one! We’re number one!” Feels good, doesn’t it? But as I learned from my high school football career, saying you’re number one and being number one are two entirely different propositions. What is the United States of America number one in, […]