I live in the Pikes Peak region and when this area was first settled, it was for the want of gold. Most came to seek their fortunes in the risky business of being a prospector. The prospector’s work was hard and while a few went on to earn their fortune, most barely scratched out a living as a laborer in the mines. The real winners were the Main St. business owners.
However, the most successful entrepreneurs were not the mining claim owners, but the main street business owners that opened the saloons, mercantile, restaurants, or brothels which took the earnings from the prospectors and the wages of the miners. The main street businesses, also known as secondary employers had near-zero financial risks, an abundance of eager customers, and didn’t expose the owners to the extremes of the elements.
Many entrepreneurs today are lured by the possibility of extreme riches of a new innovation or technology home run, but many will strike out in their pursuit to become a primary employer like the prospector. The secondary employer with their Main St. business may not hit that home run but will be hitting singles and doubles all day.
Are your business ambitions that of the risky prospector or are they that of the less risky main street businessman?
