LEXINGTON, Ky., July 24, 2020 (GLOBE NEWSWIRE) -- In a webinar presentation to about 80 participants in the Governor’s School for Entrepreneurs, Rubicon founder and CEO Nate Morris outlined core business principals that entrepreneurs must take to achieve success.
And it all begins with education, said Morris, who attended public schools in Kentucky before founding Rubicon and launching its mission to “end waste in all its forms.”
“We need to help the ecosystem in Kentucky and it all starts with education,” he said.
Morris, a Kentucky native, is the founder of Morris Industries, a Lexington, Kentucky-based conglomerate that is reimagining the industrial economy. Morris’s passion to solve the environmental threats posed by global waste was pivotal in his founding of Rubicon, a software company focused on waste and recycling, and the signature asset of Morris Industries. A ninth-generation Kentuckian, Morris was born in Lexington and raised by a single mother with help from his grandmother and grandfather, an Army veteran and former President of United Auto Workers (UAW) Local 862.
In an inspiring question and answer session with the program participants, Morris told them that “Thinking big is free. You just have to cultivate a positive mindset. You are in charge of your own destiny. If you can dream it you can make it happen. Whatever you put in your mind you are going to manifest.”
Values, resiliency and the ability to accept failure are important, he said.
“Your values attract your ecosystem” as you shape a venture, Morris said. “You need a resilient mindset to get through the daily battle of being an entrepreneur. You will fail and you will get rejected. You have to be a student of your own mind and cultivate it to be resilient so that you have the resolve to get through challenging times.”
Key to long-term success in business, and as an entrepreneur, is team building.
“Think about how you build teams,” he said. “You cannot be the best in all aspects of business. It’s impossible. Build an ecosystem around you to complement your needs.”
Morris also told them to learn and practice “unit economics.”
“Know how many dollars you are putting into the operation and how much you are getting back in profitability,” he said.
And be able to clearly state your business mission, Morris said.
“Refine your elevator pitch,” he said. “They tell you have 30 seconds to present your case. I think you should be able to do it in 15 seconds.”
Failure is not always devastating, Morris said, and, in most instances, is a positive that can heighten resolve and spur more innovating thinking and action.
Morris said he was honored to be asked to lead the student session and hopes that during this challenging time of the COVID-19 pandemic he provided some direction to empower young people to harness their innate creativity to tackle society’s biggest challenges.
About the Governor’s School for Entrepreneurs
The Governor's School for Entrepreneurs (GSE) identifies and enables Kentucky high school students to become the Commonwealth's next generation of entrepreneurs. Through its three-week residential experience, GSE participants from throughout the Commonwealth are 1) introduced to Kentucky's most successful entrepreneurs and fastest growing businesses, 2) equipped with the tools and skills to create and build their own businesses, and 3) matched with complementary skilled peers to develop business plans and product or service prototypes.
The annual GSE Intensive program culminates in a pitch competition attended by a large audience representing Kentucky's entrepreneurial ecosystem. In addition, as a direct result of their participation in GSE, participants qualify for some $3 million of scholarships from Kentucky's universities and colleges. Over 400 young Kentuckians have graduated from GSE since its inception in 2013. Find out more at KentuckyGSE.com.
About the Morris Foundation
The Morris Foundation promotes the cherished American value that a better life is possible to those who seek it, investing in causes that provide opportunities for self-advancement, with an emphasis on youth leadership development, the alleviation of rural poverty, girls’ and women’s empowerment, and access to higher education in Kentucky. Learn more at NateMorris.com/foundation.
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