Nov 02, 2005 - 06:01:38 CST
Common thread among entrepreneurs: taking risks.Biggest hurdle for Midwest students: taking risks.
These observations come from entrepreneur Gary Tharaldson of Tharaldson Companies. He spoke at University of Mary as part of its Year of the Entrepreneur activities. He is one of five people awarded the university's first Entrepreneurship Awards.
He spoke to a group of business students about risk-taking and becoming an entrepreneur.
Tharaldson owns a hotel and property management company, with 350 properties in 35 states. He started his company from a part-time endeavor after talking with a colleague in the insurance business who bought a motel in South Dakota.
"A lot of people think when you get in a position like mine, it was given to you," Tharaldson said.
He grew up in Dazey, and made money in high school tearing down farm buildings. He went to work for his father at a construction company in Valley City and made $1.25 an hour after high school in the 1960s. His father raised a family with six children on $1.75 an hour.
He became a teacher after attending Valley City State College, but quit teaching after two years. He became a life insurance salesman but quit that, too.
Tharaldson wouldn't have succeeded in business if he hadn't failed at selling life insurance.
"In life, we're not always successful at what we do. Five weeks later, (another agent) said 'Let me train you again,'" Tharaldson said. "Iwas hesitant, but I thought, 'What have Igot to lose?'"
It was in that moment he went from thinking he couldn't do something to thinking if someone else could do something, then he could, too. That change in thinking changed his success. He grew his insurance business to 100 employees.
Moments such as this were shared with the students from the Emerging Leaders Academy so they would understand the mindset of being an entrepreneur.
"I thought he really showed how to relate from student to business aspect," student Blaze Culliton said.
He's a business administration major hoping to switch to business communication. One day, he would like his own business, although he's not sure doing what, he said.
The other recipients of the entrepreneur awards are Harry Pearce, Dewey Tietz, Edward Shorma and Michael Hofer. Hofer will speak Dec. 1. The other recipients spoke to students earlier in the year. All recipients have ties to North Dakota.
(Reach reporter Sara Kincaid at 250-8251 or sara.kincaid@;bismarcktribune.com.)
Comments are reviewed for taste, tone and language before posting.
Some comments may be used in the Tribune's print edition.
We value and respect your privacy, but The Bismarck Tribune might
disclose certain information to governmental entities if served with subpoena.