Entrepreneurs: Where Our Economy Gets Its Strength
By Steve Ernst
I
live in a town that actually has a "Main Street." It
has family-owned restaurants, auto dealerships, small law and accounting
firms, a community bank, and a flower shop and jewelry store. What
do all of these small businesses have in common? They represent
ideas, a penchant for risk-taking, fortitude, and to top off even
those attributes, they employee people who are earning a living,
supporting families and probably formulating ideas of their own.
In short, these are entrepreneurs.
When I see this street and the lives and efforts of people that make it what
it is, I think of my father. My dad was a strong but quiet man with closely
held dreams. A World War II veteran who returned from the war and went to work
in a factory, he was there until, over 30 years later, he was the last one
to leave the plant, walk out of the gate and literally turn off the lights.
By day, he built huge earth movers, but at night he was an artist whose medium
was wood. He created beautiful, long-lasting pieces of furniture that people
would wait months for until he said it was ready. He could not hide his passion
to create these masterpieces, and his dream was to have his own business. It
was not to be, but whenever I think about entrepreneurial spirit, I think of
him.
I had the above thoughts in mind when I was fortunate enough to attend the
21st Annual Ernst & Young Entrepreneur of the Year Awards late last year.
The EOY Awards gala is the culmination of a year-long search for – and
celebration of – the entrepreneurial spirit. Along with the other national
sponsors, Bank of America and The Kauffman Foundation, SAP proudly sponsored
the 2007 EOY Program. At the event, from over 1,600 nominees in the U.S., a
distinguished panel of judges selected Entrepreneurs of the Year in 10 separate
categories and, from that group, an overall Entrepreneur of the Year.
The 2007 Ernst & Young Entrepreneur of the Year in the U.S. is Isaac Larian, President and CEO of MGA Entertainment, Van Nuys, CA. Earlier in the evening, Mr. Larian had been named the winner in the Retail & Consumer Product category. To say that his acceptance speech was tremendously moving and an example of a modest person appreciative of the country and people who made his and his family’s success possible would be an understatement.
When Mr. Larian left Iran at the age of 17, his destination was America and,
as he said, a place where, if you worked hard, you could pursue your dreams.
When he arrived in Los Angeles, he had $750 in his pocket and a heart full
of determination. At the end of his first month in the U.S. and with his funds
dwindling, he eventually found a job as a dishwasher at $1.65 an hour, along
with the willpower to save and persevere to the extent that he eventually earned
a degree in civil engineering. He never lost sight of his dream, never gave
up on himself and continued to be bolstered by the fact he was in the U.S.
Step after step, decision after decision, idea after idea, he progressed from
a licensing agreement, to a line of toys and products that children had to
have, to acquiring Little Tykes and then to the acquisition and rescue of Smoby,
France’s largest and Europe’s second largest toy company. Today, MGA Entertainment
is the largest privately owned toy company in the world. His advice when looking
back? "Trust your instincts, stay humble and be true to your roots." As
he tells his children, "I came here with little, started as a dishwasher
and got the chance to live the American dream."
Entrepreneurs, the engines of our economy: we at SAP salute you.
Steve Ernst, CPA, leads the
SAP CPA Advisor and other influencer programs for SAP America, Inc. Prior
to joining SAP, Steve provided consulting services to boards and executive
staff on accounting, auditing, business processes and internal control
systems, as well as sales, marketing and business development initiatives.
He has more than 30 years of experience, including 10 years with PricewaterhouseCoopers
LLP and more than 20 years in international finance and operations in the
consumer product and technology markets. You can contact him at steve.ernst@sap.com.
Return to newsletter
