Friday, 12 March 2010

The final goal makes all the difference: The entrepreneurial story of Honore de Balzac (Part 3 of 4)


After a long discussion, he managed to convince his father to grant him a small allowance for a year. That was the time that Balzac had allowed himself to write a brilliant novel that would immediately propel him to the highest echelons of literary fame.

During those initial 12 months, Balzac produced two appalling books which were quickly forgotten. A long string of poorly crafted novels followed during the next years; none of those earned him sufficient money to break out of poverty.

In his late twenties, Balzac contemplated his massive failure and resolved to abandon his ambitions. He told himself that he had done his best, but that becoming a writer was too difficult. Would he not rather make a fortune in business and later, when he was free of material concerns, return to literature?

His entrepreneurial attempts soon ended catastrophically. He borrowed large sums of money and established himself first as a publisher and later as a printer, two businesses about which he knew little. Competition was hard and Balzac lacked the experience to run such operations with any chance of success.

He brought out books that did not sell and saw financial losses accumulate. In less than a year, he had wasted his complete capital and was obliged to shut down his business. His dreams of prosperity were shattered; his personal debts, astronomical; his prospects of turning around the situation, negligible.

To be continued in Part 4

[Text: http://johnvespasian.blogspot.com]

[Image by Leonard Low under Creative Commons Attribution License. See the license terms under http://creativecommons.org/licenses/by/3.0/us]