TEACHING & LEARNING
A
lawyer and physicist turned Wharton student find common ground in mentoring
relationship
OUTREACH
More
Than a Pet Project
Plus: Follow
up on 2002 WBP Competition winner
Plus: Learn
more about the Grand Prize winning team, PAWS
Building Entrepreneurial Businesses
Faces of Wharton Entrepreneurship
RESEARCH
Venture
Capital Syndication Pays off — and not just for the VC
David
Peterson
Chairman
and CEO, The North Highland Company
Personal
Information
Company description: Management and Technology Consulting
Services
Education: BS Econ, Wharton, University
of Pennsylvania, 1973. MBA, U of Florida, 1978
Primary place of residence: Atlanta,
Georgia
It would surprise people that I….:
wanted to be a college professor
P.O.V.
(Point of View)
I
became an entrepreneur because…:
I thought
I had a better management consulting model than the big consulting firms.
Best way to respond to criticism and doubters…: Embrace
the criticism: it is probably deserved. Convince the doubters: that's
what the entrepreneur's job is.
Best definition of a successful entrepreneur: From the I Ching:
"Before the beginning of great brilliance, there must be Chaos. Before
a brilliant
person begins something great, they must look foolish to the crowd."
Most challenging part of your job: Having conversations with
people that are choosing to leave the company, or that I am choosing
to have leave the company.
Biggest impact of the Wharton School: I was in the first entrepreneurial
class in the undergraduate school (1973). My major take away was that
if you projected a profit the first year, you missed something.
Best memory of your Wharton days: All night studying at somebody's
apartment, then an early a.m. run to Pat's Steaks.
Close
calls
How
you started your business: In my attic office,
with $1000, and lots of kind people along the way.
Pivotal moment in growing your business: Year 3. About April,
we hit $1 million in sales company life-to-date, and by year-end, over
a million for the year. First time we felt we would make it.
Most interesting non-entrepreneurial job offer you've declined:
Summer fellowship at the White House.
Biggest surprise you encountered growing your business: Growing
companies consume cash. Employees, vendors, IRS, and the AR balance all
grow faster than cash in the door.
Most difficult decision you're glad you
made: Not selling the company the first time I had a serious
offer. (Have had lots since, but the first was the most tempting.)
Entrepreneur
to Entrepreneur
Favorite
Web site:
AskJeeves, followed by Hoovers
Book
that most influenced your thinking: Up the Organization
by Robert Townsend
Favorite activity outside of business: Family stuff. Followed
by home remodeling, (just finished number 3), golf, sailing, travel
Goal still pursuing: Being on corporate Boards of Directors.
Person most influential to your success: My father. As a
manager, he was always concerned about doing your personal best, but
being fair and sharing the benefits to all involved in the efforts.
Person you most admire: A senior partner at the first consulting
company I worked for that demonstrated that people and quality work were
more important than money or fast promotions.
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