The Four Levels of Entrepreneurialism

I just watched this video on YouTube about Midway USA Founder and CEO, Larry Potterfield winning the Ernst and Young Master Entrepreneur Award. He gave a nice acceptance speech while making some very important points that are on the minds of several new and surviving entrepreneurs. First of all, Larry Potterfield’s company, Midway USA, focuses on selling sporting, hunting, and camping supplies. His business has grown from a chain of stores to also providing both mail-order and internet sales service. His YouTube channel provides seasonal advice as well as hunting, sporting, camping and gun reviews. By diversifying his business, Larry became a powerhouse and enabled people from all over the country to purchase his products. Not bad for a guy that lives in a small town in Missouri.

During his speech, he mentioned that there were four levels of entrepreneurialism. They are:

1.)  Risk

2.)  Success

3.)  Sustainability

4.)  Generosity

Many entrepreneurs are still in the first stage, while others might have had their success and are now struggling to sustain it. However, his speech reminds us that being an entrepreneur means that you are in it for the long haul. The successes and failures are all part of the experience. It begins when it’s all about you and what you want and ends on how you choose to leave your mark in the world. That’s the generosity part he was talking about.

Here’s the link to his acceptance speech:

http://www.youtube.com/watch?v=5-MfhR7VHhQ

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