My Entrepreneurship Story

my younger brother, dad, and me

Entrepreneurship has always been a central theme in my family. In 2004, my dad and two of his partners founded Advanced Settlements, a company which bought and sold life insurance policies that people no longer wanted. Since then, the company has expanded into new markets. My dad was able to sell the licensing for Advanced Settlements for a profit and has rebranded as Abacus Life Settlements, which is a similar to the original company, but contains a stronger emphasis on the sides of the market that are the most profitable.

My dad has always been someone I've looked up to. He's always been a hard worker and rarely would take days off as I was growing up, which lead to the success of his business. I've watched first hand as his tireless efforts helped my family climb the economic ladder. When I was a child, we had a strict monthly budget for groceries and were frequent customers at discount stores. Now, we have more financial leeway. My dad can afford to take days off work and send my younger brothers to a private school.

He always has encouraged us kids to have an entrepreneurial mindset. Growing up, my brothers and I would host lemonade stands on the side of the road. My dad would give us a set budget and have us calculate out the cost of running the stand against the revenue brought in; then, he would take 2% of our profits as an "investor." He wanted to encourage us to go out there and try to turn a profit but also to remember that, even though it was only a children's lemonade stand, entrepreneurship is risky business and takes hard work.

This translated into other entrepreneurial ventures for me and my brothers. As I got older, I started to be the neighborhood babysitter/dog-walker and my brothers started a business with other neighborhood boys mowing lawns and cleaning pools. Into our teenage years, we took to the internet, selling people's old clothes and unwanted items on eBay.

My dad and my childhood experiences are a big reason that I chose to take this class. I'm so incredible proud of my dad and the success that he has had with his company. I want to follow his example and be in control of which avenues I pursue in my life. I want to be able to look at a potential business venture and decide if it's something worth going after. And, above all, I want to do what I did as a kid which was
make money in my own way doing something I care about. I understand the hard work that comes with being an entrepreneur, but I think that the pride that comes from looking back at it all and seeing the progress you've made is worth it.