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Supporter
of Entrepreneurship
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From the Lansing Business Monthly May,
1999 |
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Gene Carolan is president of Carolan & Associates, PC-CPA.
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Gene Carolan, president
of Carolan & Associates, PC-CPA, won the Entrepreneurial Award of Greater
Lansing in the category of Supporter of Entrepreneurship. Among other
things, Carolan was recognized for his work with the Small Business
Development Center at Lansing Community College. He’s spent an enormous
amount of time helping others achieve the same dream he once had—becoming an
entrepreneur. Carolan feels he’s not alone in winning the award, it’s the
LCC Business Development Center winning, too.
“I’m absolutely honored to be selected by the outstanding citizens of
Lansing,” said Carolan. “This is a very prestigious award. I’m especially
proud to represent the people of LCC, especially those from the Business
Development Center. I’m proud to be associated with people who are committed
to the growth of mid-Michigan's small business economy.”
After starting several other businesses, some successful, some not,
Carolan incorporated Carolan & Associates, PC-CPA in May of 1991. The
inspiration came in August, 1987.
“I felt trapped as an accountant,” Carolan recalled. “I asked myself
what it was that I really wanted to do. The answer was to help people, I
like dealing with people. I decided to combine my people and business skills
to help others start successful businesses.”
That’s when he began a part-time management consulting service on $500
and a prayer. The initial service assisted small manufacturers in inventory
control and financial management. Today, Carolan & Associates, PC-CPA has
four full-time and four part-time employees and represents 75 corporations,
partnerships, and several hundred individuals. His original strategy
continues: to assist first-time entrepreneurs in business startup.
“I plan to continue to work as a volunteer counselor to the Small
Business Development Center despite a hectic schedule, “ said Carolan. “I
believe it is vital to the Lansing community to give back based on the
success I’ve enjoyed.”
Carolan believes the biggest risk in starting a business is the risk of
what failure can do to a person’s self-esteem and personal confidence. He
says he’s seen peoples’ personal lives and marriages destroyed by a business
failure. On the bright side, however, there’s help for those who seek it.
“This community supports entrepreneurs better then other communities,”
said Carolan. “A significant body of knowledge is available as well as a
number of networks and a variety of counselors. People have the ability to
approach starting a business better educated and more sophisticated. Just
the same, because there’s more competition, it’s as difficult today as ever
to start and grow a successful business.”
Each entrepreneur has a different definition of what the meaningful
rewards of starting a successful business are. For Carolan, one of the
rewards is the power to control your own destiny.
“You fundamentally can be what you decide it is you want to be,” said
Carolan. “You have the power and the authority to turn your business into
what you want it to be, but you have to keep at it and keep your vision
clear in order to develop it to the next level. That’s why developing and
maintaining a strong self-esteem and personal confidence is so important.”
Carolan says another vitally important component to the success of an
entrepreneur is support from one’s significant other. For Carolan, it is his
wife.
“I’ve been blessed with the tremendous support of my wife, Lisa,” said
Carolan. ”When I told her in 1988 that I was going to quit a $55,000-a-year
job that came with a company car, two corporate credit cards, and an
excellent benefit program, she went along with the crazy idea. Through the
good and the bad she never complained. She stood right by me. That says an
awful lot about the quality of my wife and her confidence in me. I owe her a
great deal for that.” |
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