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ENTREPRENEURS
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“These organizations have a unique challenge compared to others, as owners and or employeesareoftentorn betweenbeingbusinesspeople and family members, all at once.”
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SUMMER 2010 l 19
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s a business consultant, Larry Mietus ’05 MOL works with organizations to analyze their leadership teams, strategic plans, financial performance, organizational design, marketplace competitiveness, and advertising in order to provide them with strategies to excel. He works with clients to guide them through the implementation of both tactical and strategic action items. Whether working with a local, regional, or national company, “I’ve found that many places either don’t have a strategic plan, or don’t adhere to the one they do have,” says Mietus. “It’s imperative that businesses have a plan that they can monitor their activities against. It’s critical for such a plan to be created in entrepreneurial or start up situations.” When asked about what mistakes he has seen entrepreneurs make, Mietus offers, “I’ve seen businesses not have a backup plan, and not have a backup to the backup plan. I’m as optimistic as they come, but there’s a fine line between optimism and delusion. You need to be able to ask and answer the question, ‘what if this doesn’t work?’” “Entrepreneurship is about taking calculated risks,” advises Mietus. “You can’t be foolhardy, but you can overthink things. Some people will think so long on a decision that they’re paralyzed. Others jump in so fast, they can get hurt.” He continues, “Think strategically, do your research, make a decision, take action and then monitor the results.” In his estimation, entrepreneurs aren’t always out for fame and acknowledgement. Mietus has worked with the Center for Entrepreneurial Leadership at the University at Buffalo, and he cites “dozens to hundreds of ventures that people don’t know about in Western New York. Branding, marketing and advertising aside, many of these companies are successful and happy with the niche they are in.” Mietus looks to other entrepreneurial people for inspiration and ideas. “Through ‘personal advisory boards,’ there are people you come to know and trust. You can call them and they’ll give you the feedback and advice you need.” As for what he would say to an aspiring entrepreneur, he echoes the best advice he ever received: Do what makes you happy. “I’ve had some neat career paths, and I got to choose them all; and, I knew when to leave,” he says. “Also, people should challenge themselves – whether they’re a child, or an adult. When you’re about to go to sleep, ask yourself the question, ‘what did I learn today?’ If the answer is nothing, you need to get out of bed, pick up a dictionary, a book, or get on the Internet, and learn something. There is so much information out there – and this is an information-based economy. We can’t know everything, and we should never think that we do know everything.” For Mietus, it’s about finding a balance between work, family, faith and community. “Current economic conditions spur more entrepreneurial growth and development,” he says. “People look for ways to do their own thing, and that opens up the door for different opportunities, where your career, education, and lifestyle are melded together. It’s about how you manage your life and time.” He continues, “Once you figure out your passion, work on it hard, and then eventually it won’t be work at all. As a by-product, you’ll be earning a living while enjoying life.” --
KC Kratt photo
Mietus points out that a common thread in his consulting work is that 85% of the businesses with which he works are family-owned.