Another issue of sports memorabilia ahead of a live auction in Boston.
Moore’s Law states that the speed of computer processing doubles every 18 months. Applying the law to technology in general, it states that the rate of technological change is constantly increasing.
Every new technology that enters the market proves this to be true. From NFTs, Metaverse, 5G technology, and AI, to Blockchain and Bitcoin – the list goes on.
With every new technology comes thousands of entrepreneurs looking to make a profit. The stories of individuals making fortunes in these new industries are both interesting and inspiring.
Jason Koonce, founder and CEO of OTIA Sports
However, some make money as usual, according to a 1981 Smith Barney ad. “They get it.” One such person is Jason Koonce, founder and CEO of OTIA Sports, a leading retailer of major sports cards, agents, and players for signing and public and private appearances.
Koonce’s story answers two years’ worth of questions:
Koonce’s love for sports cards began at a young age. He remembers buying and selling sports memorabilia at various sports card shows. He developed his interest into a profitable business until he left it at the age of 23. “I decided to sell everything and move my savings into real estate.”
Although many people have become rich in real estate, that was not the case for Koonce. He lost everything he invested in the housing crash of 2007-2008. This failure can be devastating, but Koonce sees it as a good reminder that “failure is part of success, and through failure, you learn something new.”
The lesson Koonce learned is to go back to what has won him the best OTIA games. Over the years, he has grown his business into a multi-million dollar company.
Koonce attributes his success to three leadership principles.
Find What You Are Good At and Stick To It
In a world where you can be and do anything, choose something you enjoy – especially as an entrepreneur. Business isn’t always easy, but it’s easier to focus when you’re doing something you enjoy. Koonce still faces his share of failures, but his love for sports and sports memorabilia keeps him moving even when he doesn’t win.
Don’t Fall For The Shiny Object Syndrome
The decision to leave the business he knew and loved to pursue real estate profits didn’t work out for Koonce. Despite Carnegie’s oft-quoted statement that 90 percent of the wealthy are real estate investors, this does not mean wealth is for everyone. This may interest you : Indiana companies have made grants to invest in high-tech equipment. Many people, including Koonce, lost all their savings in the country.
In today’s world, we also see entrepreneurs looking for cryptocurrency, stocks, and other investment opportunities. Sometimes, however, the way to make money is to “earn it.” Many people increase their wealth by selling less “bright things” such as toilet paper, toothbrushes, and tea.
Business Must Evolve
When Koonce started his first business, the only way to sell cards was at shows or by buying television ads. “When I first started, I went to the post office every day after school, I put real change in the mail for cards and I hope I don’t get scammed. To see also : Within the high-tech restructuring of Chuck E. Cheese.” Now, of course, most transactions are online. This motivated him to increase his social media presence and build relationships to tap into the larger markets.
Is the key to building a successful business doing what you love? Is he looking for something profitable? Jason Koonce teaches us that the sweet spot is creating a business around something profitable and something you love.
