This document summarizes stories from 5 entrepreneurs - Jim McKelvey, Walker Deibel, Cliff Holekamp, Don Jubel, and Howard Lerner - to illustrate lessons about grit, setbacks, risk management, seizing opportunities, and pivoting in business. Each founder faced challenges but found success through perseverance. Their experiences show that entrepreneurship requires drive, resilience when faced with failure, starting small and simple, and willingness to change course when needed.

1. 5+1
Entrepreneurs: Finding success
in the face of complexity and contradiction
John Berglund
6.17.2017https://www.slideshare.net/JohnBerglund/five-stories

2. • Jim McKelvey: The Importance of Grit
• Walker Deibel: Setbacks are necessary
• Cliff Holekamp: Taking a Gamble
• Don Jubel: Making Opportunities
• Howard Lerner: Pivoting
(5) Stories + (1) Narrator

3. Each has a personal Journey
Family of Origin
Genetics + Environment
• Socio-Economic Class +/- 1
What we are given and then what we do
• Growth mentality
• Problem Solving
• Creativity
Father & son – about 1966
“I am something of a seeker with a learning
obsession. ….there are times when I got decisions
right, and other times when I went on more of a
detour, but I’ve grown through each of these
endeavors. I am a bit envious of those who know
just what they want to do and are then competent
and happy while they are doing it” john berglund

4. Long and winding road
Career & Interests
• Aerospace Engineer
• Architect
• Small Business Owner - Software Development
• Business Acquisitions
• Community Involvement
• Author
“L'Uomo Vitruviano”
“The Scream”
“L'Uomo Homerous”

5. Grit: The ability to achieve one’s
goals regardless of the obstacles
The Largest indicator of Success is Grit
Additional Characteristics of Grit:
• Optimism
• Conscientiousness
• Self-control
Mira, Inc - 1992
Starting is HARD:
• Startup Failure rate is greater
than 80% within 5 years
• Less than 10% ever grow to
more than $1M Revenue
https://en.wikipedia.org/wiki/Grit_(personality_trait)

6. Custom glass faucets
Who would pay for such a thing?

7. Unexpected connections
“When I’m not meeting any resistance, I always take a moment to
stop and look around. If there is a herd out there, I am going to be in
front of it.” jim mckelvey
2009 - SquareGlass Faucet

8. Setbacks are necessary for success
Walker Deibel's $7 million portfolio
of ‘old-school’ businesses
Aug 5, 2016, 5:00am CDT
“I’ve been involved in a number of
startups and not one of them has made
it. Each failed for different reasons, but it
speaks to how hard it is to start a
business from scratch” walker deibel
An Entrepreneur’s Fortune
Snapshot:
• Numerous at bats
• Old School business meets new technology
• Codesmith: highest performing coding academy
• Deibel films: rigorous screening process leads to profitability

9. “There is a misperception that entrepreneurs are
gamblers, or like to take risks; I very much dislike risk.
Successful entrepreneurs are conscientious and strategic
about the way that risk is managed; most will work very
quickly to reduce their exposure” cliff holekamp
Entrepreneurs and risk
Cliff Holekamp

10. “Jubel translates to Joy in German. Despite many
obstacles, Jubel sums up my family’s journey, from
extreme poverty to a success greater than my father
could have imagined. Ours is the Great American
Immigrant success story that has been repeated over
and over by many families” don jubel
Making your own opportunity
Henry Jubel - 1940
WUSTL Ground Breaking - 2017

11. Pivoting
Howard Lerner
“Roasting our own coffee not only improved
our margins, but also turned our competitors
into customers. It gave us an entirely new
vertical of selling wholesale product to local
businesses, expanding Kaldi’s from just a
corner coffeehouse to a legitimate coffee
wholesaler” howard lerner

12. Success
1. Drive
2. Getting outside your comfort zone
3. Failing forward
4. Starting Small
5. Pivoting
6. Luck
“Fortune favors the prepared mind” Louis Pasteur
Fatality
1. You can run out of money even if you are profitable
2. Not adjusting to changes in the marketplace
3. Not understanding what the customer really wants/needs
4. Not understanding marketing and sales
5. Poor execution
6. Taking on too much debt/not controlling expenses
It does not take a rocket scientist to succeed in business, but you
do have to work hard, pay attention, make the tough decisions,
and take advantage of the luck that finds you

13. Pieces of a puzzle
False work during Construction
Voussoir vs Keystone

14. Questions/Comments ?
johnb@starlake.biz
www.rarecompanybook.com
@berglund_stl
https://www.slideshare.net/JohnBerglund/five-stories