Dave Lukas Chats with Eric B. Schultz
182: Innovation, Inspiration, and Timeless Business Wisdom with Serial Entrepreneur, Eric Schultz
This week’s Misfit Entrepreneur is Eric B. Schultz. Eric is the author one of my new favorite books, Innovation on Tap, Stories of Entrepreneurship from the Cotton Gin to Broadway’s Hamilton. As a lover of history and entrepreneurship, this book was made for me.
Aside from the book, Eric has spent his career in entrepreneurial and leadership roles, including senior vice president of Midwest operations for American Cablesystems, co-founder and president of Atlantic Ventures, and chairman and CEO of Sensitech, a venture-backed business twice named to the Inc. 500 before being acquired by Carrier Corporation. He has also served as a CEO and partner with Ascent Ventures, executive chairman of HubCast, on the board of advisors of multiple other companies, and as a mentor for student start-up teams in the Brown University B-Lab.
Eric’s not only written an incredible book that I think every entrepreneur should read, but he has a wealth of experience and wisdom we can all learn from to help us on our journey.
LinkedIn – Eric B. Schultz
Eric has a degree in history and liberal arts background. He then went on to get an MBA in 1983. He then made the decision to go into entrepreneurship which wasn’t the thing it is today. His path took him through a number of entrepreneurial pursuits. His last position was at Sensitech where he helped move the company into a digital company and develop a data strategy. Eventually, they were acquired by Carrier Corp and he started doing some consulting.
It also gave him some time to write. He had written a few books, but really wanted to write a book about entrepreneurship. In doing a further consulting engagement for Carrier and UTX, he found inspiration in the founders’ stories.
His goal with Innovation on Tap was to write a history of innovation for America across 3 centuries. It was almost overwhelming. He found his inspiration in an afterhours event from a venture firm’s pitch session.
The idea was to bring all of these incredible entrepreneurs together in “a bar” and have them tell their stories. Just like the stories being told at afterhours events he had attended.
Who is Steve Dodge and why is the book dedicated to him?
Define Innovation as you see it in today’s world…
What advice can give entrepreneurs on how to better develop their skill of innovation?
At the 21 min mark, Eric tell us about the 6 themes of entrepreneurship…
At the 26 min mark, we have a great discussion on Consumerism being one of the biggest shifts in entrepreneurship.
“Consumerism is a fundamental change where America went from a land of sober and frugal citizens defined by what they produced, to a land of ravenous consumers defined by what they purchased.”
What are the 3 lessons of entrepreneurship?
What are the elements of a great business model?
What lessons didn’t make the list of Top 3?
Not everything you learn today is not necessarily applicable today. Sample information widely. You never know when the information will make itself useful to you.
Which entrepreneur is your favorite and why?
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