David Abowd's Page

Good Ideas.

Did I say I liked to teach? If I said I liked to teach I was wrong. I never liked teaching in a classroom. I think I enjoyed Lunch, Planning Period, Coaching, and Directing the School Jazz Band. I went to school and got a BA degree in Special Education and I taught for 5 long years to cancel a student loan without repaying it. (Part of an old National Direct Student Loan Program) In my 3rd year of teaching High School Special Education I started a part time Music Business with 100 dollars and a Dream of stopping teaching. On the last day of school my fifth year teaching I got the Principal's signature on the grant paperwork and told him I would not be coming back the next year.

I continued to build my business one mistake after another -- literally -- until I got the hang of it. Nobody to answer to and nobody to correct me I cost myself money with each little error. Looking back I should have taken some kind of small business classes, but, I was way too thick headed for that. I loved what I was doing and I kept my eyes on the future.

I started business in the summer of 1979 and went right through the recession in early 1980. Prime interest rate in 1980 - 1981 went over 20% many times see http://research.stlouisfed.org/fred2/data/PRIME.txt Inflation went over 10 percent per year.

I really did not know how much a blessing it was not to be able to get a loan to grow my businness. I thought that borrowing money was a key objective of growing a business. I kept on hearing use "other people's" money and I wanted to get my hands on some of that! In retrospect during those first 5 years, and possibly the next 5 too, I would have had no way to repay any loans. Let alone pay myself what I was worth. I finally realized that PROFIT was the only way to expand, I'm sure any experienced businessman could have told me that before I started my business, but, it took me 5 years to realize that truth. You see my business plan was very sketchy -- work a lot, buy low sell high, work a lot more. That's not a business plan that's a description of a workaholic. I loved this business so I did not even notice it was 90% of my life. If I had done that circle thing on page 28 back then it would have been 10 career, 10 financial and 1's for everything else. Really lopsided.

Don't get the wrong Idea from this I think having your own business is the greatest thing in the world. Everybody should have that experience and better yet everyone should experience successful execution of owning a business. One of the reasons I want to do this 48 days work is to launch a successfull business and find joy, happiness and wealth well into my golden years. I really want to find out who I am so I can use that to really do it right this time.

Hope this was not too long. I wanted to write this down so I could read it back to myself.