Entrepreneur's Course: Navigating Both Calm And Choppy Seas

Arden Kelton has developed his sea legs as an entrepreneur by riding out high and low tides. Kelton, who holds a Ph.D. in medical physics from the University of California, Los Angeles, is founder and president of Lamplighter Industries Inc. The Yanceyville, N.C., firm uses a ceramic technology invented by Kelton's partner, engineer David Emmett, to manufacture electronic display lighting for instrument light panels. During recent weeks, Kelton has been scrambling to do something that for a lot

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Despite his recent financial problems, Kelton has not lost his entrepreneurial spirit. "Money doesn't matter an awful lot; it's really the project's meaning," he says. "I believe in the company's future, and I do have confidence that if the financing fails, we'll come up with a buyer.

"There's a creative process in starting a business. You could say that I enjoy starting a business more than running it, yet I have no intention of leaving Lamplighter unless it's a good move for my employees and my investors."

Kelton's course as an entrepreneur is fixed, it seems. Lamplighter is the fourth company he has started; he even looks forward to launching his next venture, probably in biotechnology. But not all scientists who become entrepreneurs yearn for another voyage. Garland Marshall, for example, once was at the helm of a company that reached a safe harbor, yet he's now a confirmed landlubber.

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