How do you measure success?
Depending on whom you ask the answer can vary widely
— from personal wealth accumulation to family, health and
happiness, and everything in
between. For entrepreneurs,
the answer might just be a bit
simpler — overcoming risk.
Risk-taking is one of the most
common traits entrepreneurs
share. The mere fact that they
put it on the line every day
reveals their iron-clad stomachs;
albeit sometimes those stomachs are marred by a few ulcers
here and there.
This is a trait you just have to
admire, especially since many
of the rest of us, including highly
successful professional managers, see nothing but terror when it comes to
personally guaranteeing everything we’ve
ever worked for in
order to build a business that provides
not just for our family but the families of
every single person
we employ.
That’s why this
issue of Smart Business is so
significant. We’re proud to share
the stories of the 2008 Ernst &
Young Entrepreneur Of The
Year finalists and honorees in a
special cover story report. This
is the 12th year that Smart
Business has been the media
sponsor of this event, and when
you’re finished reading these
amazing entrepreneurs’ stories
and the risks they’ve overcome, you’ll understand
why we’re so honored to work with
Ernst & Young each
year to present such
a prestigious program.
Additionally, in
this month’s Smart
Leaders feature
you’ll read about
Don Padgett III, executive
director of the World Golf
Championships — Bridgestone
Invitational, and how he manages to put on an event that
draws 75 of the world’s top
golfers and more than 80,000
guests. On the course, taking
risks is just part of the job. Off
the links, you take calculated
risks when presenting and promoting such a world-class event, especially when you must
remain innovative in the face of
growing competition.
Finally, we sent Associate
Editor Abby Cymerman out to
speak with Clyde Shetler, who
runs a 67-person custom steel
fabricator and large machine
shop. Shetler faces risk every
day in an industry that must
adapt to survive. He’s tackled
that challenge by diversifying
his customer base and focusing
on customization rather than
commoditizing his products.
So how do you measure success in your own organizations?
Drop me a line and let me
know.
Contact Editor Dustin Klein at
[email protected]
