1,000 Dollars & An Idea: Entrepreneur to Billionaire Autobiography by Sam Wyly Presented by Teresa Torix EDUC 5023

About the Author 1,000 Dollars & An Idea was Sam Wyly’s first book. Wyly is a self-made billionaire who has founded and or grown companies in various industries. Wyly grew up in Louisiana but now resides in Texas with his third wife, Cheryl. He has 6 children, 12 grandchildren and two great- grandchildren. Wyly earned degrees in journalism and accounting from Louisiana Tech University and an MBA from the University of Michigan. Sam Wyly began writing down things that happened in his life over 20 years prior to writing this book. Wyly wrote Texas Got It Right! with his son, Andrew in 2012.

Connection to Content Lessons in entrepreneurship Digital communications before the Internet Worked for IBM Founded computer companies Investor in social networking company

Summary Sam Wyly was born in one of the poorest communities in the United States. He began working at a very young age. Wyly learned a lot of his business philosophies from his years playing football in Louisiana. He said “Football taught me about setting goals, coping with fear, using leverage, maximizing assets, and understanding weaknesses…and about losing.” In 1963 Wyly took $1,000 of his savings and started University Computing; he was a millionaire by the age of 30. He also owned other companies including Michaels and Bonanza Steakhouse.

Summary The book describes Wyly’s multiple business adventures as well as his view on the financial crisis of 2008 and how he saw the path to recovery. Wyly writes this book with many lessons for life and business. Wyly truly believes in the American Way. He says that “We’re a country that allows for self- creation…it’s certainly the heart of my story.” Wyly describes being in on the ground level of digital communication and the Internet. He was in competition with IBM and AT&T. The references to beginning computing and the Internet are taught in my content area.

My favorite parts…. The book began with Sam Wyly’s football years in Delhi Louisiana and how it shaped his business philosophies. Highlighting how sports lessons helped him in business then and now show that sports isn’t something that is just a way to pass time while in school…it can really teach you life lessons. The second highlight was his attitude when a business venture would fail. He didn’t let it get him down for long. He went on to conquer bigger and better things.

Good Stuff…. “If you don’t know about losing, you can’t learn how to win.” “Be careful what you wish for ‘cause you just might get it.” “So what if you’re small in a bug guy’s game? You’re quick and you’re smart and you’re tough.” “Of all sad words of tongue or pen, the saddest are these: It might have been.” “Who you know can get you an audience. What you know and what you make of that audience is strictly up to you.” “I could perceive that the game was not just about the cards I was holding, but about how I played those cards.” “Western Union could not understand why anyone would rather make a phone call than send a telegram. Now they were turning their backs on their one and only chance to be an important part of what became the Internet.” “Reading is one of the keys to success, because if you won’t admit what you don’t know, you’ll never discover what you need to know.”

To Be Continued To find out the rest of Sam Wyly’s clever quotes, what other companies he founded and acquired, which entrepreneurs he studied and his lessons in business, read: