Local Entrepreneurs Jump into Shark Tank!

Minneapolis entrepreneurs, Sue Kruskopf and Nancy Bush, co-founders of My Wonderful Life, LLC, have jumped into the Shark Tank! You can watch it on January 20 at 7:00PM Central Time on ABC. That’s the season premiere of Shark Tank, which some have referred to as “…clearly the best business show on television.” [Marv Domon, Business and Finance Examiner, April 8, 2011.] 

If you have ever wondered what it is like to ask a seasoned investor to put real money into your small business, you must tune in to this show. How does the investor make the decision? What questions are asked? What does it take to raise funds from independent, sophisticated investors? Then, how should you use the funds to grow your business? Check it out. 

After January 20, check back to this blog site to trade feedback on whether Sue and Nancy were successful. I spoke with Sue and all she would tell me is that the experience so far has been truly exciting and she recommends it to all entrepreneurs. One more thing…Sue, Nancy, and MyWonderfulLife.com are clients of Gray Plant Mooty and we will be rooting for them on January 20.

Entrepreneurial Myth Busters—Golf Clubs and Gender

In my humble opinion, entrepreneurs tend to be people who think outside the box. In the world of golf, my favorite entrepreneurs are those that challenge generally held perceptions, especially when the perception is a myth. Myth busting: That’s one of the many reasons those of us in our Entrepreneurial Services Group like to work with entrepreneurs.    

A common golf myth is that “…women’s clubs are designed for women and men’s clubs are designed for men.” Obviously, men and women come in different sizes and with different athletic abilities. Some are the same size with similar athletic abilities. Of course, some women are taller and stronger than men (take a look at the women on the LPGA).

So, how can it be that club designers are able to design clubs that are gender specific? Based on some of the clubs on the market today, perhaps some shorter, weaker men should use “women’s clubs” and some taller and stronger women should use “men’s clubs.”   

Well, it has taken some smart, common-sense entrepreneurs, such as Tom Wishon, to bring the golf world to its senses, bust some myths, and state the obvious: “Properly fit golf clubs know no gender restrictions. They only know that they are matched to exactly how their owner swings.”  [See Tom Wishon with Tom Grundner, Twelve Myths That Could Wreck Your Golf Game (Cortero Publishing, 2009), p. 21]  Imagine that!

More importantly, because of the leadership of entrepreneurial club makers, some of the larger manufacturers and big box retailers are catching on and fitting clubs to your needs. Clubs that don’t fit are like shoes that don’t fit; they can make your day very painful!

Just because a manufacturer paints their clubs pink, don’t assume that they fit you as a woman. The next time you are in the market for clubs, find a local custom fitter or a retailer who will take the time to properly fit your clubs. Golf should be fun, not a pain.

Thanks to Tom Wishon and the many entrepreneurs who think outside the box and are “myth busters.”

Belly Putters and My Thanks to Entrepreneur Charlie Owens

With Keegan Bradley’s recent victory at the PGA Championship, “belly putters” (or “long putters”) have been a hot topic of discussion amongst the golfing set. This label is attached to almost any putter that is held by anchoring one end at the player’s chest, belly, navel, etc.

Even though the USGA refused to ban the belly putter, it works so well for many golfers that some pros are calling for it to be banned by the USGA and the R&A, which administer the rules of golf.

If this works so well, who invented it and did he or she make any money with the invention?

Evidently the late Paul Runyan first came up with the idea while playing in the 1936 Belmont Open in Boston. He anchored the end of his putter to his belly in an attempt to stabilize himself in the strong wind. In a 1966 article that he wrote for Golf Digest, he said that “an advantage I hadn’t expected is that this system minimizes the adverse effect of nervous tension.” In other words, it helps with the “yips!” This is like finding the Holy Grail for putters!

Enter Charlie Owens, who was the first to popularize the belly putter by winning two Senior PGA events with his 50-inch “broomstick” model in 1986. As is the case with many entrepreneurs, necessity was the mother of invention. In a 2007 interview with Golf Digest, he admitted that he “…had the yips so bad that [he] would freeze up on a two-footer.” He experimented by welding two shafts together, using various weighted putter heads, and even designing a brass putter head which was custom-machined from a brass bar. The result was a 3.5 pound putter that he named the “Slim Jim.”

After some success with Slim Jim, Owens made a deal with Matzie Golf for the commercialization of his design. Owens didn’t protect his invention because he didn’t think it would catch on. But Matzie still makes and sells a number of belly putters, and every major manufacturer of golf clubs has joined the trend.

Owens is in his early 80s and lives in Tampa, Florida. He says that he’d just like a little credit where credit is due. So, here’s to you, Charlie Owens! Thanks for your creation and your entrepreneurial spirit. It won’t bring world peace but it just might cure the yips. So, try it and thank Charlie.

What Can You—and Entrepreneurs in General—Learn from a Famous Custom Golf Club Maker?

One of my readers recently asked me, “Who is your favorite golf industry entrepreneur and why?” My answer is easy. Remember the two propositions from this blog post? First, entrepreneurs tend to be successful because of their energy, focus, creativity, efficiency, and, perhaps, a little luck. Second, THE KEY TO HAPPINESS IS REASONABLE EXPECTATIONS.

With this in mind, the answer can only be Karsten Solheim, founder of Karsten Manufacturing, the maker of Ping® golf clubs. Solheim, while working as a mechanical engineer at GE, played his first round of golf at age 42. After being dissatisfied with the putters available on the market, he designed his own putter based on solid engineering and the scientific principle of perimeter weighting (that is, moving the club head weight to the outside of the club head to promote stability, rather than just following the styles of the day). His putters weren’t chrome-plated or fancy looking. Barney Adams, the founder of Adams Golf, has said that, to Solheim, “…it was performance that made clubs beautiful, not the other way around.”

Solheim went on to use the same principles (perimeter weighting, scientific design methods, and function over form) to commercialize the custom-fitting of irons for the regular golfer. He didn’t offer fully customized sets to the masses but he did recognize that golfers came in different sizes and physical capabilities, and he offered custom-ordered iron sets at reasonable prices, thus opening the floodgates for current large brand manufacturers who are following in his large footsteps by offering custom-fitted clubs.

Who more than Solheim is a better role model for entrepreneurial energy, focus, creativity, efficiency, …and probably some luck (but, in my opinion, more solid design skill than luck)? Did he have reasonable expectations? Before he died in 2000, he did seem to be a pretty happy guy to me. Check out “Custom Fitting” and “50-year Anniversary” for more information on Karsten Solheim and his custom clubs.

Next: More on custom golf clubs, major manufacturers, and independent club fitters.

Custom Clubs—Why Should I Care

So, assuming you (like most folks) have read my initial blog post about the “Key to Happiness” (a reminder: happiness is based on your reasonable expectations), you may be wondering about whether there are ways to improve your golf game to meet your now appropriately placed expectations. It may not be obvious (because it sounds like something for scratch golfers or golf geeks—which it is), but you may want to consider custom golf clubs.

Okay, you ask, don’t pros use the same name-brand clubs that I can buy? Well, yes and no. Pros do use “name-brand” clubs, but they are generally custom-fitted to each pro. That is, they use shafts that are custom cut to fit, with shaft weights chosen based on individual swing speeds and tempos, with club heads custom weighted and lofted to fit their swing and physique.

But aren’t custom golf clubs expensive? They can be, but they don’t need to be. There are many “big box” golf stores that are starting to offer very reasonable custom club fitting services and there are many independent custom club makers.

Then why should I, regardless of my handicap or skill level, have custom clubs? Well, for the same reason that you don’t wear shoes that don’t fit or that were made for a person with different physical attributes. If you’re most comfortable running shoe is a 7 Narrow Nike, would you go to a 5K race in a 10 Wide Eddie Bauer Hiking boot? Probably not. You’d use the perfect size shoe for your intended purpose.

When it comes to golf clubs, they come in all sizes, shapes, and weights. They can easily be made to fit you, your physique, your conditioning, and, likely, your budget. A future post will cover some of the myths that large club manufacturers perpetuate in order to sell the public more clubs. Some of those myths lead many of us to purchase clubs that don’t fit us and certainly don’t help us reach our golfing goals or potential. Some branded clubs might actually be a detriment to our golf—especially if they aren’t a good fit.

But the good news is that reasonably priced custom clubs are becoming more available and the makers of major branded clubs are starting to understand what independent custom club makers have know for a long time—custom clubs can improve your game and maybe even your level of happiness.

Stay tuned.

A Recipe for Happiness in Golfing and Entrepreneurship

Okay, you are probably wondering whether such a recipe exists, right? My experience—as an entrepreneur, as a lawyer advising primarily entrepreneurs, and as a generally happy golfer—is that entrepreneurs are successful because of energy, focus, creativity, and efficiency, plus a little luck sometimes. The same applies to golf (and happiness).

But let’s start with this proposition (and remember, you read this here first): THE KEY TO HAPPINESS IS REASONABLE EXPECTATIONS! This applies to business, pleasure, relationships, and essentially everything that we do, including golf. Whether you are an entrepreneur or a golfer, if you have high expectations but you don’t have high energy, focus, creativity, and aren’t efficient (and a little lucky), then I strongly recommend that you adjust your expectations downward or resign yourself to an unhappy existence.

Once you have your expectations in a reasonable place and have a reasonable goal for your game of golf, then you are ready to go forward. Let’s start by focusing on people who shoot between 80 and 120+ (handicaps of 10 to 36, if you care). I will get to the rest of you later, but this still might have some application to you.

Energy? Entrepreneurs rarely start a business, much less grow it, with a 9 to 5, five-day-a-week schedule. Similarly, golfers rarely get better by being out of shape. My advice for entrepreneurs and golfers? Get in shape. Stay in shape. Walk, don’t ride. Take the stairs, not the elevator. You get the point. You don’t have to kill yourself, but good conditioning should be a factor in your expectations. Simple.

Focus? An entrepreneurial daydream rarely becomes a successful business without focus. Really good golfers tend to be very focused on golf in general and especially when on the golf course. But most of us think of golf as entertainment or fun, so we would prefer to not spend lots of time “focusing” on the game of golf. Good for you, I say! But those of us who think this way should probably remember this when we are setting our golfing expectations. If focusing less helps you enjoy it more, no problem. On the other hand, if focusing more helps your friend enjoy it more, no problem. You will both be happier. One of the beauties of golf is that you can still play together!

Creativity? This is often a key part to the success of an entrepreneur, and also to that of a golfer. Neither person has to do things just like everyone else. There is no playbook for most entrepreneurs. And you will rarely find two golfers with the same physique and the same golf swing. So what’s my point? Take a few lessons—search out a golf instructor (or business mentor) who will work with you, just as you are. Tell this person about your expectations and make sure they will work with you within your parameters. If they don’t get it, find someone else. As you develop your game or business skills, a good “teaching pro” will work with you about creative shot making and creative strategies.

Efficiency? For an entrepreneur, this generally means planning, cost controls, efficient staffing, etc. When it comes to golf, this can mean many things, including an efficient golf swing and planning the most efficient type of shot to get the ball in the hole with the fewest strokes. Those things can be learned, but it’s important to have the right tools. Don’t try to fit your business or golf game into a box designed by someone else. Each one is unique in some aspect. I’ll tell you about custom-designed clubs—one of my favorite topics—in a future post.

Remember, I want to help you meet your reasonable expectations when it comes to golf, business, or life—which can help you find HAPPINESS, whatever the course.