Over the years, Paper Napkin Wisdom guests have described ways for entrepreneurs to structure their business and life in a way that gears them for success. While some topics have been complex, today’s podcast gets us back to the basic. Serial entrepreneur Bill Dallas explains his guiding principles in business and life for the past three decades. “Pairing means with meaning is the only way to live a full life,” he asserts. “Means” refers to the problems entrepreneurs solve, while “meaning” describes the purpose behind their efforts. He believes that merging the two ideals is the key to successful entrepreneurship and a happy life.
He started his businesses back in the 1980s in an old Victorian home. Back then, entrepreneurship was just barely in vogue. “I had to apply meaning to the things I was doing on a daily basis, even when they weren’t things I necessarily enjoyed doing,” Bill recalls. By deriving meaning from even the most mundane of tasks, he was able to parlay that passion and become the founder of several lending companies across the United States. “When you apply meaning to what you do today, you feel successful in the moment and it propels you to success and creates exponential results,” he says. He also doesn’t believe in putting any energy into tasks that don’t revolve around the ultimate goal, stating that it’s a waste of energy. “When you apply meaning to your means, the problems you solve and things you learn will end up teaching you where you need to go,” he remarks.
Bill has several nuggets derived from his years of experience. He believes in keeping things simple but intentional and authentic. In fact, Bill gives each of his new employees the acclaimed Robert Fulghum title All I Really Need to Know I’ve Learned in Kindergarten. “We already know pretty much everything we need to,” he says, “Living this way will attract like-minded people.”
He also believes that all entrepreneurs must embody four personas in order to be successful. “Act like an immigrant,” he says, “Have a chip on your shoulder, work hard and remember where you came from. You can’t be an entrepreneur and be entitled. ” Next, he urges entrepreneurs to be artisans and leave their mark on society. Thirdly, Bill advises entrepreneurs to act like a waitress or waiter, “They are the pinnacle of entrepreneurship. They know that their livelihood is dependent on the level of service they provide their customers.” Finally, he believes entrepreneurs should be coaches and serve as a mentor for their teams and fellow entrepreneurs.
By embodying these traits and principles, Bill believes any entrepreneur will find success – and, more importantly, meaning within their success. “Life is simple, just not easy,” he says, “Entrepreneurs should want a rich life more than they want riches.”
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