New ideas from new organizations fuel the innovation that is needed in the country today.
That was at the heart of a short speech from Seth Goldman, “TeaEO” of Honest Tea based in Bethesda, he gave at the InvestMaryland Challenge ceremony before the awards were handed out.
In addition to being president of Honest Tea, which he cofounded in 1998, Goldman serves on the Maryland Economic Development Commission. Speaking Monday evening, he said the commission’s recommendation was that the state “needed to applaud entrepreneurs.”
“Large companies are not going to be changing the direction of society,” he said.
Goldman also outlined for the entrepreneurs in the audience five rules they should bear in mind:
- Build something you believe in.
- Build up reserves of money and energy.
- Never give up control. (The Coca-Cola Company purchased 40 percent of Honest Tea in 2008.)
- Think of how to achieve goals on the smallest budget.
- Build the enterprise and brand as if you’ll own it forever.