Studies in Entrepreneurship Speaker Series kicks off with Pat Oles

SAN MARCOS, Texas — Pat Oles, president and CEO of Barshop and Oles Company, kicked off the Studies in Entrepreneurship (SIE) Speaker Series hosted by McCoy College of Business on Tuesday, Feb 4, offering students a firsthand account into the challenges and triumphs of entrepreneurship.

The Studies in Entrepreneurship (SIE) Speaker Series invites successful entrepreneurs and business leaders to share their experiences with students enrolled in the Management 3360 course, taught by Dr. Josh Daspit, associate professor of management, and students in Introduction to Innovation and Entrepreneurship 2310, taught by Emily Wiley, assistant professor of instruction in management.

The program, which recently celebrated its 25th anniversary, was created to provide students with insights into speakers' journeys, accomplishments, and challenges while offering advice for growth and success in their entrepreneurial endeavors.

The entrepreneurship program was funded in 1999 by a generous donation from Texas State University alumni Roy and Joanne Mitte. Sam Barshop, co-founder of La Quinta Inn and the college's entrepreneurship chair at the time, and Dr. Jim Bell, professor emeritus of management at Texas State, developed the speaker series, which has become a pillar of entrepreneurial education at the university.

The sessions have brought hundreds of entrepreneurs from industries including technology, healthcare, entertainment, finance, and more, providing students unique opportunities to engage with successful entrepreneurs.

Tuesday’s event began with a reception that allowed students to meet with Oles and network with guests, faculty, and other students.

In attendance were Dan Roy, Director of University Engagement for McCoy’s Building Supply, and Brian McCoy, former CEO of McCoy’s Building Supply and current president of the McCoy College Foundation Board.

Pat Oles has participated in the speaker series for over 20 years. Dr. Josh Daspit, the Barshop Professor of Excellence in Entrepreneurship, who teaches the course, shared that Oles' impact “can be seen in the skyline of Texas" and in the individuals he’s worked with, alluding to his profound contribution to Texas commercial real estate development and management. Daspit said Oles is “dedicated to leaving things better than he found them,” reflecting the core of his entrepreneurial philosophy.

Oles opened the session by reflecting on the program's history and development over the years, highlighting the impact of the entrepreneurs’ stories on students.

"Sam Barshop [started this], and the idea was to bring entrepreneurs from all walks of life, at all stages in their business careers, and let them — as Sam used to say — tell their story," he said.  

The speaker series played a fundamental role in motivating the McCoy family to invest in the college and build a lasting legacy within the university.

"We would not be in this building […] we would not have so many wonderful professors," he said. "But for Brian and his mother and father who had the vision to make a financial gift to help build this building and most importantly put all their leadership skills to work over many years to build this incredible school."

Sharing his story, Oles discussed his early years, from building his first business with his brother — a lawn mowing venture — to his early college years, his pivot from medical school, a brief stint in government in which he worked on former Texas Governor Bill Clements' campaign bid for election in Texas and then Ronald Reagan's bid for governor in California that ultimately led to a lucrative yet challenging career in real estate following Clements' loss after an attempt at reelection.

"Honestly, it was the best thing that happened to me," Oles said. "My cool job in government at age 26 went kaputz."

Following guidance — and financial backing — from Barshop, Oles stayed in Austin, Texas, and spent the next decade learning about real estate, navigating financial hardships such as the failed banking system of the late 1980s in which the federal government took over Texas' banking system, and learning to pivot and evolve through the turmoil.

"That five years of misery taught me so much [It] taught me how to survive in business [and] how to be prepared to pivot when things change because things change all the time," he warned.

"Every business plan you make, everything you do, every idea that you have today about what you want to do, it'll change."

Oles emphasized that his most significant growth has come from overcoming challenges.

"Probably the best lessons I've learned are associated with my failures, my business failures, or my bad decisions. You really learn from those moments."

He discussed how his company's partnership with H-E-B — the Texas-based supermarket chain — in the early 1990s was central to his success and allowed him to invest in other ventures, such as the Brodie Oaks project, which has been in the works for 15 years. He emphasized how diversification in business is fundamental for success.

"Don't put all your chips in one basket. Don't put all your savings on one stock or one bond. And likewise in my business and in most business, diversification or having multiple lines of business can actually be really good."

The session ended with questions from students and Oles urging them to take advantage of the speaker series and the connections they can make with aspirational business leaders and entrepreneurs.

"You're going to learn a lot in this class,” Oles said. “You have some really wonderful people here in this room today, many of whom have started great businesses, and they really care about you. So, take advantage of that opportunity. This is a unique program. It's a unique opportunity for you."

Upcoming speakers in the series include Preston James, co-founder and CEO of DivInc; Vincent Cordero, Venture capitalist Advisor, SEC and DARPA former media executive; and Patrick and Kathy Terry, co-founders of P. Terry's Burger Stand. ✯