Bob Geras 70th Birthday Bob Geras Grant Keynote Address to the IVCA Midwest Venture Summit, Chicago, IL | March 18, 2008
Well, how does everyone feel this morning after celebrating St. Patty’s Day? Do you know why Ireland is the wealthiest country in the world? Because it’s Capitol is always Dublin!
Gee, 70 years old…..wow, that’s scary! I don’t feel like it, but the calendar doesn’t lie. I remember a cartoon in the Trib….Shoe was sitting on his doctor’s examining table and was asked how he felt. He said: “Not bad Doc, but if I felt like this 30 years ago, I’d have been real sick!” yeah, I can relate. You know you’re really getting old when your back goes out more than you do!
I like what George Carlin said about Getting old:
“The most unfair thing about life is the way it ends. I mean, life is tough. It takes up a lot of your time. What do you get at the end of it? A Death! What's that, a bonus? I think the life cycle is all backwards. You should die first, get it out of the way. Then you live in an old age home. You get kicked out when you're too young, you get a gold watch, you go to work. You work forty years until you're young enough to enjoy your retirement. You do drugs, alcohol, you party, you get ready for high school. You go to grade school, you become a kid, you play, you have no responsibilities, you become a little baby, you go back into the womb, you spend your last nine months floating......and you finish off as an orgasm.”
Why the $70m? After having been in this crazy business for most of my life, I thought celebrating my 70 years on this earth by giving some needy young entrepreneur $1,000 for every year would be fun. It would mean a lot to a young business, and it would be a token of thanks for having been so lucky and privileged to have found a vocation which I love, and which has given me so much satisfaction all these years in being able to help entrepreneurs to some small degree and sometimes even influence their lives and the lives of their families forever. That’s really heady stuff!
Being involved at the very genesis of the free enterprise system which makes this Country so great is a real thrill and a privilege. I’ve met so many terrific people over the years who have remained friends and business partners to this day. Money comes and goes, but what is far more important which nothing can ever take away from you…. Is your integrity and self-respect? That, and having such genuine and warm relationships, is what true happiness and success is all about.
Another thing I thought the grant would do is help attract attention to the Midwest Venture forum and to the fact that we have lots of talented, creative, ambitious entrepreneurs who need financial support and access to the experience and mentoring of people who have learned very expensive hard lessons so they don’t have to make the same mistakes.
Unfortunately, for decades, the Midwest has been known as a risk averse area. We need to change that. Having talented entrepreneurs forced to take their innovations and future jobs to the East and West coast just to get funding is undermining our economic future and creating a disastrous brain drain.
Fortunately, a number of others have also been trying to turn the tide and encourage homegrown entrepreneurial activity. To name a few, are JB Pritzker, Tom Churchwell, Steve Miller, Bruce Barron, Dennis Serio, Maura O’Hara and the IVCA, Nik Rokop and the Knapp Center at IIT, David Weinstein and his team, Matt McCall, Terry Howerton and Fred Hoch of the ITA, Plus the great local Business Schools and many angel groups which have become more active over the past few years. We need to build on this momentum for the good of the economic future of this area before it’s too late.
I could go on for hours on that subject. But I thought that in the very few minutes I have up here, I should share with you some more personal and, hopefully more valuable thoughts for you to remember as you move through life.
Remember, Life is what happens to you while you are making other plans. You rarely ever wind up where you think you’re headed. There is so much chance and arbitrariness which dramatically reshapes our lives. You turn right instead of left in a grocery store only to bump into a stranger who winds up becoming your wife. You step off a curb only to get clipped by a car you didn’t see which ends your baseball career. You reluctantly make a product change in your business and it winds up being a surprise bonanza which changes everything, etc. etc.
So, bear with me while I share some philosophical insights which I hope will be helpful on this uncertain, exciting journey called life.
Choosing to be an entrepreneur is a momentous decision with far reaching consequences and demands on you personal life you may not have bargained for. It takes real sacrifices….complete dedication.
True commitment means taking ownership for everything necessary to make your business a success, and sacrificing until it is. Are you willing to go without sleep to ensure your customers get what you promised them? Would you postpone or cancel a vacation because a client needed you? Would you give up your weekends for a year?
If you answered no to any of these, then you should reconsider your career path. If you’re going to do it anyway, then at least do it with some safety valves which will help you reduce stress and keep your sanity. Here are some that work for me.
Don’t take irritations or reverses too hard. Develop a sense of humor and be forgiving of others. Remember, you can’t always determine what happens to you, but YOU CAN CONTROL HOW YOU REACT TO IT. Look for the humor in life….it helps break the tension and is good for your health. It also lowers the stress of people around you, which can only make it easier to make things better.
Remember that it’s always darkest before the dawn, so if you’re going to steal your neighbor’s newspaper, that’s the best time to do it.
Also, before you criticize someone, first walk a mile in their shoes. That way, when you do criticize them, you’ll be a mile away, and you’ll have their shoes!
See, it works, doesn’t it!
Remember that happiness and contentment is a state of mind….it occurs between the ears and is completely under your control. If things don’t work out don’t beat yourself up about it and don’t take it out on others either. As long as you’ve tried your best, tomorrow’s another day. If that doesn’t work, let it go and move on. Remember that if you let someone or something get your goat ….He or it wins! Don’t abdicate that influence over your mind and wellbeing.
One very simple thing which could bring a smile to your face and make you feel good for hours is little unexpected acts of kindness. For example, pay the beleaguered checkout girl at the store a compliment on her hair, dress or ring. It will catch her by surprise and make her feel validated as a person rather than just a bottleneck causing people to impatiently wait in line and take their irritation out on her. I guarantee it will make her day and be even more courteous to the next person in line who will also feel better, etc. etc. etc…..so the ripple effect makes its heartwarming way through several lives.. It cost you nothing, and you got something precious out of it too. You got to feel good….in many ways. It can become addicting and, over time, mellow your outlook and even change how you deal with life….honest.
Worry is like paying interest on a debt you may never owe. It causes stress, which reduces your ability to effectively deal with challenges, and impedes your ability to think straight when you need it most.
Think pleasant thoughts. Call someone just to say hello. Laugh more. Love more. Play some music. Rest, close your eyes and daydream of your favorite vacation. Be thankful for life and be grateful for what you have and who you are.
A hundred years from now, it won’t matter how much money you had, how big your house was, or how many cars you drove. But the world may be a better place because you made a real difference in someone’s life.
Thank you all, and have a great day!
Bob
