Here’s to the Entrepreneurs

A friend of mine launched an energy drink last week.

His goal: nothing short of building the biggest beverage company on the planet.

Of course, the odds of that happening are long. Probably better than winning the recent Powerball (you have a 1 in 292.2 million chance of landing the massive prize) but long,nonetheless.

But daunting odds don’t dissuade entrepreneurs. In fact, the more people scoff at their dreams the more motivated they become to prove everyone wrong.

I respect  that mindset, it’s that kind of thinking that changes the world.

And that’s why I love entrepreneurs. I admire them too.

I appreciate the energy, grit, belief, and passion they bring to their endeavors.

My friend is confident in his vision. Some might say he’s cocky,but I know better.

It’s not ego or overconfidence that drives people like my friend. It’s not even the outsize rewards that come if you succeed.

Sure, the money has meaning. I suppose it’s a way of keeping score, but riches are not the only motivation.

Nope, the entrepreneurs I’ve seen up close are after something more. Something deeper and more meaningful.

They want to prove something.

They look at the world differently; they are opportunity scouts seeking to solve problems or fill a void.

Entrepreneurs want to create something special: a hit product, a resonant brand, a movement.

It’s not easy to do any of those things. The world is a crowded place, it’s hard to get noticed over the din, and it’s darn near impossible to break through and make a dent in the marketplace.

Building a successful company is a complicated endeavor with hundreds of tasks and moving parts to navigate. There are potholes galore, lots of hard work and sleepless nights worrying about all sorts of things.

But people like my friend do it anyway.

They have no choice. It’s who they are. They are driven to act. Driven to try.

I’ve been involved in the energy drink business for 15 years—years spent on the inside and now years on the periphery.

The name of the company I know a little about is Celsius.

Celsius started in a small office/warehouse on 4th Avenue in Delray Beach and has grown from the humblest beginnings to a publicly traded international company with a market cap of over $11 billion.

Pepsi took a stake in the company recently and the stock has become a Wall Street darling. Here’s some stats: year to date the stock has a return of about 44 percent, far outpacing the S & P 500. The one-year return is about 91 percent, the three-year return has been 1,059 percent (not a typo) and the five-year return has been 3,215 percent (also not a typo).

Yes, the past few years have been amazing to witness. The team at Celsius has done extraordinary things; sometimes life exceeds your wildest dreams. And this has happened—somewhat quietly—right here in Delray Beach and now in bigger digs in Boca.

But the road to success was years and years long and full of land mines.

The company went from the pink sheets to Nasdaq only to get delisted before getting back on the exchange.

The little company that dreamed big got on the shelves of the nation’s top retailers only to lose distribution when the product didn’t move. Then the team of believers got those shelves back and now the product is flying—likely to $1 billion in annual sales.

It’s been a remarkable story. Ups and downs, amazing characters who came and went and wildly talented people who ultimately made it stick.

I think it would make a great Netflix series.

The story of the little company that kept chipping away until something magical happened. It’s a uniquely American  saga.

Through it all, there was an entrepreneur who believed.

His name is Carl DeSantis and he never stopped believing even when conventional wisdom would have said: “hey, enough is enough. You gave it a go.”

But my friend Carl never stopped believing. Every setback meant he was one step closer to success.

Entrepreneurs fail forward.

It’s something to behold. Truly something to behold.

My friend—with the new company— knows all this.

He’s built a company before, from scratch. That experience will help.

He understands resilience. He’s still hungry.

In that way, he reminds me of Carl who also built a business before Celsius. The success of Rexall Sundown would have enabled Carl to sail off into the sunset. But entrepreneurs can’t turn it off. They are what they are. They want to solve problems, they want to create, they want to disrupt. They want to win.

As Steve Jobs said: ““Here’s to the crazy ones. The misfits. The rebels. The troublemakers. The round pegs in the square holes. The ones who see things differently. They’re not fond of rules. And they have no respect for the status quo. You can quote them, disagree with them, glorify or vilify them. About the only thing you can’t do is ignore them. Because they change things. They push the human race forward. And while some may see them as the crazy ones, we see genius. Because the people who are crazy enough to think they can change the world, are the ones who do.”

The Last Dance & Leadership

Editor’s Note: In honor of Memorial Day.

“Our debt to the heroic men and valiant women in the service of our country can never be repaid. They have earned our undying gratitude. America will never forget their sacrifices.” – President Harry S. Truman

Did you see ESPN’s “The Last Dance?”

The 10-hour documentary chronicles the story of Michael Jordan and the Chicago Bulls who won six NBA championships during a magical run in the 90s.
It’s must see TV and the 10 hours fly by. I could have watched at least ten more hours; the story was that compelling.
Much has been written about the documentary especially the leadership skills and personality of Jordan whose basketball skills were other worldly but whose personality was… how shall I say it…challenging.
In short, Jordan led through a combination of hard work, dedication and bullying that at least on two occasions led to actual violence. He punched two teammates during practice sessions that got so intense that they …well …led to fisticuffs.

Jordan had impossibly high standards. Winning was the only thing that mattered.
If he sensed you weren’t dedicated, or you were weak, he pounced and wouldn’t let up until he was satisfied you were not going to get in the way of winning.
There’s no arguing that he got results. Six rings. And I was reminded through the documentary that he was the best player I’ve ever seen.
But when asked about their teammate, many of the Bulls who played alongside MJ hedged their feelings. Yes he was great and he made others better. Yes we won. But boy could he be a jerk and yes he crossed the line many times.
At times it was painful too watch. You could see how his teammates are still struggling with Jordan’s style.

There are other examples of great individual talents whose personalities left a lot to be desired.
Steve Jobs led Apple to great heights but was said to be brutal to team members.
In the HBO film “LBJ-All The Way” Bryan Cranston portrays Lyndon Johnson as an expert politician but a man lacking in tact and manners. A theme throughout the film is LBJ’s reluctance to choose Hubert Humphrey as his running mate in 1964 because he openly worries that Humphrey is too nice.
You have to be mean to succeed in a blood sport such as politics, he tells Humphrey.
Which begs the question: do you?
Do you have to be mean and a bully to succeed?
I’m not so sure.
Although it’s hard to argue with the success of Jobs, Jordan and LBJ —who sure passed a lot of landmark legislation before getting swallowed by Vietnam—I’d like to believe that kind, empathetic, servant leadership is a more reliable and sustainable model.
That doesn’t mean that you don’t have to be tough at times. There are instances that call for leaders to be brutally honest and there are times when leaders are called upon to take on bullies. And sometimes  the best way to take on a bully is to give him or her a taste of their own medicine.
Sometimes it’s the only thing a bully understands.
But when it comes to day to day effective leadership I think those who lead with love  get more done.
Maya Angelou said it best: people may forget what you did but they will never forget how you made them feel.
In Michael Jordan’s case they won’t forget the six titles or the soaring dunks but they also won’t forget that they didn’t feel all that great at times ducking his punches and his insults.
Of course, it’s  hard to argue with results, but few of us are Michael Jordan.
For those with modest talents who wish to change the world,  I think the best way to lead is with love and affection.
Now some may feel that love is a strong word. It is.
But it’s essential for success.
Mayors should love their cities. CEOs should love their company’s mission, their employees and their customers.
Love is the killer app.
It enables you to find hidden reserves when trouble comes; and trouble always comes.
Passion for your cause will ensure you succeed. Jordan, Jobs and others had it. But they wouldn’t have been any less dominant if they mixed their passion with an old fashioned dose of kindness.

Wisdom Amid The Pomp & Circumstance

Steve Jobs’ Stanford speech is considered a graduation classic.

Before we drift too far from graduation season, we wanted to share some of our favorite grad speech snippets.
We hope you enjoy and we wish our local graduates all the best in the years to come.

Steve Jobs Stanford 2005

“Death is very likely the single best invention of life. It is life’s change agent. It clears out the old to make way for the new. Right now the new is you, but someday not too long from now, you will gradually become the old and be cleared away. Sorry to be so dramatic, but it is quite true. Your time is limited, so don’t waste it living someone else’s life.”

J.K. Rowling, Harvard 2008

“Failure meant a stripping away of the inessential. I stopped pretending to myself that I was anything other than what I was, and began to direct all my energy into finishing the only work that mattered to me,” she said. “[R]ock bottom became the solid foundation on which I rebuilt my life.”

 

Winston Churchill, 1941 Harrow School

“Never give in. Never give in. Never, never, never, never–in nothing, great or small, large or petty–never give in, except to convictions of honor and good sense.”

 

Jeff Bezos, 2010, Princeton

“Tomorrow, in a very real sense, your life — the life you author from scratch on your own — begins.

How will you use your gifts? What choices will you make?

Will inertia be your guide, or will you follow your passions?

Will you follow dogma, or will you be original?

Will you choose a life of ease, or a life of service and adventure?

Will you wilt under criticism, or will you follow your convictions?

Will you bluff it out when you’re wrong, or will you apologize?

Will you guard your heart against rejection, or will you act when you fall in love?

Will you play it safe, or will you be a little bit swashbuckling?

When it’s tough, will you give up, or will you be relentless?

Will you be a cynic, or will you be a builder?

Will you be clever at the expense of others, or will you be kind?

I will hazard a prediction. When you are 80 years old, and in a quiet moment of reflection narrating for only yourself the most personal version of your life story, the telling that will be most compact and meaningful will be the series of choices you have made. In the end, we are our choices. Build yourself a great story.”

 

Theodore Geisel (Dr. Seuss) Lake Shore College 1977 – a 75 second commencement address.

“My uncle ordered popovers

from the restaurant’s bill of fare.

And when they were served,

he regarded them

with a penetrating stare …

Then he spoke great Words of Wisdom

as he sat there on that chair:

“To eat these things,”

said my uncle,

“you must exercise great care.

You may swallow down what’s solid …

BUT …

you must spit out the air!”

 

And …

as you partake of the world’s bill of fare,

that’s darned good advice to follow.

Do a lot of spitting out the hot air.

And be careful what you swallow.”

 

Stephen Colbert, 2006 Knox College

“Cynicism is a self-imposed blindness, a rejection of the world because we are afraid it will hurt us or be disappointed in us. Cynics always say no … for as long as you have the strength to, say yes.”

 

Conan O’Brien, Harvard 2000

“I left the cocoon of Harvard, I left the cocoon of Saturday Night Live, I left the cocoon of the Simpsons. And each time it was bruising and tumultuous. And yet every failure was freeing, and today I’m as nostalgic for the bad as I am for the good. So that’s what I wish for all of you—the bad as well as the good. Fall down. Make a mess. Break something occasionally. Know that your mistakes are your own unique way of getting to where you need to be. And remember that the story is never over.”

Tim Cook, 2019 Tulane

“Don’t waste time on problems that have been solved. Don’t get hung up on what other people say is practical. Instead, steer your ship into the choppy seas. Look for the rough spots, the problems that seem too big, the complexities that other people are content to work around. It’s in those places that you will find your purpose. It’s there that you can make your greatest contribution.”