Q&A with Don Stern, Author of “A Roadmap for Bootstrapping Entrepreneurs: The Power to Control Your Future”
Donald Stern left home at age nineteen with nothing but a used car and $75 in his pocket. At the University of Denver, he completed a bachelor’s degree in business while working two jobs. Later, he taught Advertising Principles 101 on a graduate fellowship at DU.
In 1981, Donald Stern founded Homax Corporation and co- founded Allsop & Stern Product Development and Engineering LLC. He was named Business Person of the Year for Whatcom County, WA and holds multiple patents. Since the sale of the companies in 1996, Donald has served twenty years on the Advisory Board of Directors at Mike Wiegele Helicopter Skiing, an internationally renowned five-star Canadian powder skiing resort. He has an eclectic professional background, including copywriting, ski instruction, sales and advertising management, account supervision and more.
In December of 2021, he published his first novel, A Roadmap for Bootstrapping Entrepreneurs: The Power to Control Your Future. We sat down with Donald Stern to learn why he wrote A Roadmap for Bootstrapping Entrepreneurs and more about his own entrepreneurial experience.
Q: What prompted you to write A Roadmap for Bootstrapping Entrepreneurs?
A: I wanted to share the knowledge I have gained throughout my life. You know, one of the things I say in the book is this, “people should write their own obituary. Then, they should live it.” Here I am, 81 years old, and I am near the point of my obituary. I get to reflect on what I did, what I wanted to do and who I wanted to become. I am looking back at the things that were important in my life and I think many of these things should be important to other people too.
At the very beginning, I was writing this book for my great-grandchildren. I wanted them to know some secrets of how I created wealth; but I also wanted them to grow themselves. The book really serves two purposes. If you want to manage and grow a business, well, here are the practical steps. But it also provides insights into what I did to lead a rich and fulfilling life. As a reader, you must decide for yourself what represents a rich life.
When I wrote the book, I covered a whole array of topics. You might look at the book and go, “oh my God, look how many chapters there are!” But each chapter is a short read. Because there were so many topics to cover, I thought it could be like… well, for example, ordering “à la carte” from the menu at a restaurant.
Q: What entrepreneurial experience do you reference in the book?
A: Something woven into the book is the act of culture building. The leader of a business plays a significant role in fostering a culture of good character and team building. I built entrepreneurship into my company Homax. There is a mantra that comes up in the book: “it is amazing what you can accomplish once you have made up your mind to do something that you truly want to do.” You open yourself to so many opportunities when you stop worrying about what might limit you or what components may be missing. You just say, “I am going to build this the way I think it should be done.” That in itself is entrepreneurial thinking.
At Homax, I wanted people to feel as though they were working with the company, rather than for the company. We did not negotiate salaries. Instead, I set up a matrix of rewards based on performance. What people earned depended on how much they contributed. Before starting my own, I had worked for several companies. I was a high achiever, but the problem is that everyone has peaks and valleys. For example, an Olympic athlete must be at their peak when it is time for the Olympic games. You know, Mikaela Shiffrin—an Olympic skier from Colorado—did not hit her peak at this year’s Winter Olympics. But if you expect people to operate at peak performance all the time, you burn them out. I found myself at companies where that was constantly expected of me. I did not feel like I was working with the company. Being a steward of your people and paying attention to their peaks and valleys, is an entrepreneurial way to create a sense of belonging.
At my company, I also made sure everybody knew everyone else’s job. We did a lot of job rotation. It kept everyone on the same page, and it mitigated conflict because we were familiar with one another’s responsibilities and challenges. I strove to create a company where people wanted to come to work and loved the process.
Q: What is a lesson you hope readers will take away from your book?
A: I want to teach readers how to think backwards. You must consider what your accomplishment will look like when you are done with your venture or project. People who lead are defined as “visionaries” because they have that ability to think backwards. Preparation precedes performance.
There are many other points of emphasis in the book. Here is another one, rather than just guiding people on how to do well, I want this book to inspire people to do good. If you want a business to do well, there are all sorts of checklists to complete. How do you create a strong management team? How do you ensure you have promise in a growing industry? How do you maintain accurate books? The book goes into these practicalities, but it also goes beyond that. Many quotes that provide life guidance are interspersed throughout. The book allows readers to take away the lessons and insights that are applicable to their own lives.
Q: Do you have a favorite lesson or chapter from the book?
A: One of my favorite sections comes from Chapter Fifty-Four, “Just Begin.” In all the things you do—not just in business, but also in life—think backwards about who you want to become. A lot of that has to do with the heroes you admire. Who you become is closely related to those you associate with. Choose wisely.
Here is an excerpt from the chapter:
Remarkable individuals throughout history shared similar traits that ring true. They had gumption, tenacity, vision, creativity, and leadership. This begs the questions: who are your heroes? Who has impacted your life? Identify them…respect them…learn from them…incorporate them in your quest for who you want to become. My famous heroes include:
Albert Einstein for his humor: “We cannot solve our problems with the same thinking we used to create them.”
Thomas Edison for his tireless work ethic and innovations: “To have a great idea, have lots of them.”
Benjamin Franklin for his range of achievements: “By failing to prepare, you are preparing to fail.”
Elon Musk for his brave, brilliant risks: “Know what the goal is and why.”
Oprah Winfrey for her inspiration, intellect, and restoration projects: “Where there is no struggle, there is no strength.”
President Kennedy for his oratory magic: “Those that dare to fail miserably can achieve greatly.”
Steve Jobs for his salesmanship and marketing savvy: “Details matter. It’s worth getting it right.”
Mikaela Shiffrin for the discipline required to win more ski races than anyone in history: “I like it when hard work pays off.”
Winston Churchill for making the hard decisions: “I never gave them courage… I was able to focus theirs.”
Dwight Eisenhower for unifying the Allied Forces in a collaborative style: “The supreme quality of leadership is integrity.”
Teddy Roosevelt for recognizing and preserving the national treasures: “Do what you can, with what you have, where you are.”
George Washington for confessing he cut down the cherry tree: “Associate with people of good quality if you esteem your own reputation.”
Leonardo da Vinci for his inventive foresight: “Knowing is not enough; we must apply. Being willing is not enough; we must do.”
Picasso for being fearlessly different: “I am always doing that which I cannot do in order that I may learn how to do it.”
“A Roadmap for Entrepreneurs: The Power to Control Your Future” is available in e-book and hard copy forms on Amazon and at other bookstores.