Tag Archives: quote

My Dad Taught Me Cash Flow with a Soda Machine

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“I create. I take risks. I live my passion. I am an entrepreneur.”

—YSF Magazine

Today’s story is contributed by Rob Fitzpatrick.

After a brief, failed experiment paying me to do chores, my dad tried something really neat. It clearly took a bit of legwork, but maybe there are some transferable lessons for parents who want to lay an entrepreneurial foundation.

He gave me a vending machine. He rented the machine, found a location in a local workshop, and installed it. And then he told me two things:

  • That this would be the last time I was given an allowance.
  • And that if I wanted to have any pocket money next week, I’d better spend this week’s on some inventory.

I ran the machine for about four years, from the time I was seven or eight.

my cash flow

 

At first, my only agency was inventory management. We drove to Costco in his big van and I decided what to buy. Stocking an empty soda machine is easy: you buy four cases of each soda you want to carry. But then the Coca-Cola runs out first and the Sunkist is half empty, and nobody has bought even a single Grape Soda, and should I cut my margins paying more per-unit for individual cans, or do I buy full cases and find somewhere to store the extras? And why am I doing algebra on the weekend!?

Looking back on it, I’m certain this whole endeavor operated at a loss. Dad subsidized it like crazy so I would have a safe — but real —environment to learn in. READ MORE 

Father-Son Olympic Moment – The Rest of the Story

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“A child looks up at the stars and wonders. A great father puts a child on his shoulders and helps him to grab that star.”

—Reed Markham

Today’s story is contributed by Rick Weinberg.

This story is a tribute to the grit of a son and a dad who raised a great man. Dedication, courage, focus and grit. Some have it. Some don’t. What separates great men from mere boys? Our guest writer, Rick Weinberg, takes it from here.

Derek Redmond

Derek Redmond and his father, Jim

Unlike Carl Lewis and Daley Thompson, Derek Redmond is not a name that conjures up memories of Olympic gold medals. But it is Redmond who defines the essence of the human spirit. Redmond arrived at the 1992 Olympic Summer Games in Barcelona determined to win a medal in the 400. The color of the medal was meaningless; he just wanted to win one. Just one.

He had been forced to withdraw from the 400 at the 1988 Games in Seoul, only 10 minutes before the race, because of an Achilles tendon injury. He then underwent five surgeries over the next year. READ MORE 

Bankrupt to “Booyah!”

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“The only thing worse than being blind is having sight with no vision.”

—Helen Keller

Today’s story is contributed by Darin Kidd.

I was 25 years old. Bankrupt. Medicaid. Applying for food stamps. Car repossessed. My wife and I were at the lowest of low. Neither of us made it through college. Five kids. I felt like a total failure — as a husband, as a father, and as a provider.

bankrupt

Darin and his mentor, Jeff Olson

Opportunities were scarce in our small Virginia town. I needed help. Guidance. Someone to show me the way.

My Dad? A faithful Christian. A family man. Growing up, he helped others in need, even when we were scraping to get by. He was a wonderful man, and I count myself very blessed. But it was clear I needed a different kind of help, from a different kind of mentor. Life smarts. Business savvy. Principles for success. I went on the hunt…

I found Jeff Olson. He wrote a book called The Slight Edge, among others. What I learned from him has defined my life. READ MORE 

Wax Angel

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“Don’t wait until it’s too late to tell someone how much you love them and how much you care about them, because when they’re gone, no matter how loud you shout and cry, they won’t hear you anymore.”

—Unknown

Today’s story is contributed by Risa Nye.

wax angel mom

Risa’s mother at the mic, circa 1960

After my mother died in 2007, my sister and I tackled the job of clearing out her house, room by room. I thought the kitchen pantry would be pretty straightforward, so I opened the door and surveyed the shelves.

My mother’s pantry: stockpiled with “just in case” supplies left untouched for years. I quickly tossed aside the boxes of stale crackers and cookies and emptied murky bottles into the sink. But tucked away in the farthest corner of one shelf, nearly hidden behind ancient cans of soup and boxes of petrified teabags, a little black box caught my attention. My mother had stashed her jewelry in unlikely places, so this box might contain a precious pair of earrings — or it could be empty. I reached for the box and opened it carefully.

And there she was: a wax angel who had rested peacefully in the pantry for over 30 years.

READ MORE 

My Father – A Successful Unhappy Man

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“The most important thing in life is knowing the most important things in life.”

—David F. Jakielo

Today’s story is contributed by Dr. Bruce H. Jackson.

unhappy man, lieutenant

Bruce’s father, Lt. C. Charles Jackson

My father was a self-made man. Growing up during the Depression was a great challenge and blessing for him.

His father, my grandfather (who I never met), was a blind doctor. He made house calls in exchange for eggs and fresh produce. I’m always amazed how this man’s diligence and grit rubbed off on my father.

My father told me of the days he hunted for squirrel and rabbit so they could supplement their meals. He worked before and after school. The family lived a very frugal and controlled life — as my grandfather didn’t like to have his children leave the property much or be out of his control. READ MORE 

Printegrity

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“Live so that when your children think of fairness, caring, and integrity, they think of you.”

—H. Jackson Brown Jr.

Today’s story is contributed by Robert Dilenschneider.

A late night phone call. To my surprise, Dad took it in the solitude of the basement. In hushed, urgent tones he spoke,

“I’m sorry, I’ve got to do it. I hope you’ll be able to understand.”

Huddled beneath the basement steps, in my secret spot, I could hear the tension in his voice.

Thus begins one of my earliest and most powerful lessons from Dad, a portrait of virtue, and an example of standing one’s ground.
father and son newspaper story

A young Robert and his father, Dil

My father, Sigmund John Dilenschneider, or “Dil” as he was known, was a newspaperman. The son of a middle class weaver, he had worked his way through school, culminating in his graduation from the esteemed Wharton School of Business in Philadelphia.

It was at Wharton, in the midst of the Great Depression in the 1930’s, that he met and married my mom. For a time they were forced to live apart with parents and friends — too poor to afford an apartment together.

But back to that basement call… READ MORE 

Raising a Kid-ney

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“When a father gives to his son, both laugh; when a son gives to his father, both cry.”

—William Shakespeare

Story contributed by Jimmy Sheils.

raising a kid

Jim going out for a surf shortly after his 76th birthday, with his son, Jimmy, 2010

Raising kids is tough business.
Any dad can identify.

Growing up without a dad is tough business.
Any kid can identify.

What would a dad do to save the life of his son?
Anything.

What would a son do to save the life of his dad?
Read this letter from Jimmy to his father. You’ll understand. Jimmy Sheils is the son. Jim the dad. Dad faced a life-threatening crisis. READ MORE