We had the good fortune of connecting with Keppen Laszlo and we’ve shared our conversation below.
Hi Keppen, how do you think about risk?
As an entrepreneur, risk has always played a big roll in my life. I was always taught that Success Involves Risk. It wasn’t until I failed at this approach more than once when I realized, Success Involves CALCULATED Risk. There is a huge difference between the two. When I took a calculated risk approach, I begin to make sure I was happy with the upside but also, I made sure I could live with the downside. Whether it’s a new marketing plan, a real estate purchase, or taking over a hurting business, when the focus is on both the upside and the downside, it works out well more times than not. There are now several rules I follow to calculate whether I should do a deal or not. Once many years ago I wired a huge amount of money to an investor I had never met. I thought I did my due diligence, but little did I know, I was scammed – big time. Thinking of this still makes me nauseous. I didn’t pay any attention to the downside and believe me, there was certainly a downside. But, I learned. I adapted. I never made that mistake again. If you have your own business, yes, you must take risks. But….make sure you take those risks with a calculated approach. It definitely takes patience but I would rather lose out on a deal because I was patient versus urgently jumping into a deal and lose. We need to go for it as business owners and jump in, AND…we need to make sure we know where we are jumping.
Can you give our readers an introduction to your business? Maybe you can share a bit about what you do and what sets you apart from others?
I run the Elevate Mastemind in Broomfield, CO. I lead a group of small business owners that are excited to grow their revenue, love to meet fellow entrepreneurs, and have wisdom and perspective on their business and life experiences. When I started the Elevate Mastermind, I wanted to create a group that was unlike anything else I had ever attended. Our group incorporates networking, sharing challenges and wins, and learning the A-Z of small business. The combination of our in-person activities and social networking have really made our group special.
Let’s say your best friend was visiting the area and you wanted to show them the best time ever. Where would you take them? Give us a little itinerary – say it was a week long trip, where would you eat, drink, visit, hang out, etc.
Assuming we could actually go out and do things again, I would absolutely take a friend downtown for a great dinner, take an afternoon in Boulder hiking. head over to a couple of my favorite fishing spots, and if the schedule permitted, take them to one of our pro sports teams games.
Who else deserves some credit and recognition?
My fellow entrepreneur friend, Ben Vagher taught me to let the business expansion pull me versus push it. That advice has always reminded me to follow the success – follow the energy – follow the results. Of course, it takes a fine balance of push and pull, but when the business is being pulled, it’s much easier to make the correct decisions.