Entrepreneurship

One of the virtues of the free market is that the lure of profits encourages people to apply their talents to helping others. The folks that invented and improved the automobile, air conditioning, the personal computer, made our lives richer and fuller and much, much easier. But they didn't invent these things because the loved us; they invented these things and brought them to market only because we were willing to pay for them.

For many, if not most, entrepreneurs, going into business means putting a great deal of financial capital at risk. For small operations, in particular, that capital often comes directly from the entrepreneur. Frankly, I'm a tightwad and I'm very risk-averse, which means that I've ruled out the ordinary path to being a self-made man. I prefer a steady paycheck, I prefer to keep my hard-earned dollars in one piece, and I would feel terrible for myself and my family if I risked our financial security on a business venture that failed. I can't begin to describe the respect I have for people who attempt to go it alone--they're much braver than I am, or they have much more confidence in themselves and their vision than I am ever likely to.

Writing the textbook that I'm currently working on is as close as I'll ever likely come to being my own businessman. Like the entrepreneur who opens a new store or invents a new product, I think my product is innovative enough, interesting enough, or of sufficient quality that others will want to buy it. If I'm right, the book may do well enough to fund a comfortable retirement.  But like most entrepreneurs, I make a substantial investment before the end product ever hits store shelves, so if it's a dog, that investment disappears. Fortunately for me, my investment is largely measured in hours that probably would have been devoted to watching American Idol and the like, so if this project bombs, at least my savings account won't suffer. That makes me sort of a chicken, at least compared to others who sacrifice both their time and their money when they open a business, but I am what I am.

And that's what this project is going to be referred to from this day forward: Al's chicken-hearted foray into entrepreneurship.