Principles of a Successful Entrepreneur

I started my software company forty years ago with $2,000 and built it into a multi-billion dollar value with no debt and no venture money.

That's right: we never had any debt; we never had any venture money. Not many people have done that, but if I were to start all over today, I could do it again. I want to tell you how I did it, and how you can, too.

I was a very unlikely entrepreneur. I went to college and graduated in mathematics. I never had a course in business, never had a course in economics. Nothing associated with business at all. Zero.

Even though I never prepared myself to build a company, something in my blood always wanted to be an entrepreneur. I wanted to control my own life, to beat the odds, to be the go-to guy who figured things out — and make some money in the process.

Everyone has innate gifts, aspects of their personality or unique thought processing. The trick is to recognize your own gift(s) and then hone and incorporate them into your regular dealings. It starts with intense self-awareness. It's never about what someone else could or should have done. It's always about you, the entrepreneur — the one in charge, the one who has to come up with the answers, the one who has to figure out what to do next. You're the one who needs to learn the lessons, so you can overcome your own weaknesses. When you do something about a weakness you have, all of a sudden you're stronger than anyone else. That's growth.

A lot of lessons in this book are of value to people who aren't in business. They're of value to people in general. Somewhere in here are principles of negotiation. You negotiate all the time with everybody: with your wife, with your children. Negotiations occur regularly in everyday life. You might have goals that have nothing to do with business but that require perseverance and innovation. You need some good luck; you need the absence of bad luck. The analytical methodology can make things better. You went through an experience and it didn't turn out right: what can you learn from it? That's universal.

Don't let what you don't know or can't do stop you.

I started my software company forty years ago with $2,000 and built it into a multi-billion dollar value with no debt and no venture money.

That's right: we never had any debt; we never had any venture money. Not many people have done that, but if I were to start all over today, I could do it again. I want to tell you how I did it, and how you can, too.

I was a very unlikely entrepreneur. I went to college and graduated in mathematics. I never had a course in business, never had a course in economics. Nothing associated with business at all. Zero.

A lot of lessons in this book are of value to people who aren't in business. They're of value to people in general. Even though I never prepared myself to build a company, something in my blood always wanted to be an entrepreneur. I wanted to control my own life, to beat the odds, to be the go-to guy who figured things out — and make some money in the process.

IN THIS BOOK YOU'LL LEARN

• Everyone has innate gifts, aspects of their personality or unique thought processing. The trick is to recognize your own gift(s) and then hone and incorporate them into your regular dealings. It starts with intense self-awareness.
  
  
• It's never about what someone else could or should have done. It's always about you, the entrepreneur — the one in charge, the one who has to come up with the answers, the one who has to figure out what to do next.
  
  
• You're the one who needs to learn the lessons, so you can overcome your own weaknesses. When you do something about a weakness you have, all of a sudden you're stronger than anyone else.

REAL LIFE VALUABLE INSIGHT:

• Somewhere in here are principles of negotiation.
• You negotiate all the time with everybody: with your wife, with your children. Negotiations occur regularly in everyday life.
• You might have goals that have nothing to do with business but that require perseverance and innovation.
• You need some good luck; you need the absence of bad luck. This analytical methodology can make things better.
• You went through an experience and it didn't turn out right: what can you learn from it?
• Don't let what you don't know or can't do stop you.

OVER 30 CHAPTERS!
Taking you from start-up to selling your company:

• Choosing Your Customers Wisely
• The Three Bottom Lines
• The One Hour a Week Rule
• How To Replace Yourself
• Going Public
• Selling Your Company

"Sheldon Razin [Founder, Chairman, Quality Systems, Inc.] is what entrepreneurs dream of: he took $2,000 of his own money and built a company that's now worth $1.4 billion at recent check. "

—Orange County Business Journal, March 30-April 5, 2009 Sheldon

Razin - Chairmain of the Board, Quality Systems, Inc.
Sheldon Razin is the founder of Quality Systems, Inc (QSI) which develops and markets computer-based practice management and electronic health records solutions as well as revenue cycle management applications and connectivity services for medical and dental group practices and hospitals throughout the US. He has served as its Chairman of the Board since the Company's incorporation in 1974 (inception 1973) and served as QSI's Chief Executive Officer from 1974 until April 2000.

Sheldon graduated from the Massachusetts Institute of Technology with a Bachelor's of Science Degree in Mathematics in 1959. Sheldon began his career with the Radio Plane division of Northrop where he did programming and operations research projects. He then went to work for the Autonetics division of North American Aviation, which later merged into Rockwell International. With Rockwell, Sheldon conducted mathematical modeling operations research simulation for computerized inventory control systems. This led to his consulting with many Rockwell divisional presidents whom he advised on long range computer planning and inventory control procedures and policies. Another major achievement was the design and development of a novel computerized Loran navigation technique which became widely used by the U.S. Nay. Sheldon presented this significant work at an international conference in Paris in 1967.

At the age of 35, Sheldon decided to follow his entrepreneurial dreams of owning his own company by starting Quality Systems. Without any venture capital funding, and financed with a $2,000 investment of his own money, Sheldon built QSI into a public company with a multi-billion dollar market capitalization while remaining debt free. QSI has been recognized as the one of the best performing stocks on Wall Street, named Forbes magazine's third fastest growing small companies, winner of the American Business Awards' Stevie for Company of the Year in Computer Services and many more. Sheldon has also earned many prestigious awards and achievements throughout the years for his stewardship of QSI including Ernst & Young's Regional Entrepreneur of the Year, Orange County Business Journal's Excellence in Entrepreneurship, and American Business Awards' Chairman of the Year to name a few.

In addition to Sheldon's involvement in QSI, he continues to demonstrate his financial savvy and satisfy his entrepreneurial cravings by providing seed funding, mentoring and guidance as the Chairman of the Board for two successful start-ups. First with ePace! Software, a pioneer in paperless engagement software for accounting firms which sold to CCH, Inc a division of Wolters Kluwer, a multi-billion dollar Dutch-based publisher. Then with SurePrep, a technology company that provides paperless tax workflow software and services to public accounting firms ranging in size from small local firms to the Big Four. Sheldon maintains connections to his alma mater, MIT, by serving on the advisory board of the McGovern Brain Institute. He created a $1 million endowed fellowship in support of their research, which has served to meet and anonymous challenge grant of $500,000.

Sheldon Razin now resides in Laguna Beach, California with his wife Janet and enjoys spending quality time with his two children and five grandchildren as well as travelling, sailing, scuba diving, snorkeling, swimming and tennis.