One of Kansas City’s greatest entrepreneurs, Henry W. Bloch co-founded H&R Block Inc. in 1955 and helped build it into the world’s largest tax preparation company. Now 92, he sat down with his son, Tom Bloch for a conversation covering Seven Lessons for Entrepreneurs gleaned from the elder Bloch’s experiences. Some great stories and life lessons were shared in this one hour long conversation followed by Q&A from the audience. When asked “If it were up to you, how would you improve the USA’s tax code?” Mr. Bloch responded “Increase the taxes on the wealthiest Americans. I have enough money and I don’t mind paying taxes to help others.” In case you were wondering, the seven lessons every entrepreneur must remember, according to the Bloch family, is provided below.
⋅ Persistence is as important as ambition ⋅
⋅ Determine and follow your own path and ignore the naysayers ⋅
⋅ Reassess and adjust your plan as necessary ⋅
⋅ Timing is critical ⋅
⋅ Make decisions with your customers in mind ⋅
⋅ Avoid pursuing short term goals that thwart long term goals ⋅
⋅ Your legacy is what you do for others ⋅