Posted Under: Entrepreneurship, Our Heroes

Brian Murphy, the boy next door, went to University of Maryland, worked for CEG for over 10 years, went to Wharton for MBA and then opened a bakery business… Sounds strange? So, today I’m talking to him about his journey from Baker to Governor…

DD: Brian, tell us more about you and give us some background?

BM: I grew up on Maryland’s eastern shore, and attended the University of Maryland on an academic scholarship. Graduated with honors in Economics and walked onto the men’s soccer team. After college, I was hired by a Goldman Sachs-BGE start-up called Constellation Power Source. The company later became CEG. I worked there for almost ten years. By the end of my corporate career I was a portfolio manager who oversaw the fixed price commodity risk for our New York, New England, and Southeast businesses. The portfolios represented approximately $4 billion in annual revenue, and $25 million in equivalent daily value-at-risk. But in 2008, our credit department miscalculated our exposure to a key contract, and in a two day period we almost went bankrupt. In the weeks that followed, the culture changed and all of my mentors resigned. I accepted a severance and decided to set out on my own.

DD: Bakery on an Island, sounds very unusual career choice for a Wharton Grad? How did that happen?

BM: While with Constellation I was sent to Wharton. I received my MBA in Finance in 2008. Before business school, I never expected to leave CEG. I just knew I loved finance and went to school to formalize my knowledge. After CEG, the bakery just fell into place. At the time so many people thought it was a crazy move. Looking back, it seems obvious.

DD: When did you realize that you want to be an entrepreneur & why?

BM: When I was at Wharton, private equity was the rage. Everyone wanted to do LBO’s because borrowed money was cheap and they fancied themselves as people who could buy and flip companies. All the myths, etc. But in one of my finance classes, one of our speakers told me about his career in private equity. He was in it because he loved growing businesses. He told me about calling the owner of a small ice cream maker in California, and going camping with a husband and wife to make the sale for their manufacturing company. It sounded so real, and so rewarding. I decided that if I ever left Constellation, which I never intended, I would want to start, buy, and grow small companies.

DD: How did you prepare yourself for the employee to entrepreneur transition?

BM: When I knew I could no longer stay at Constellation, I decided to accept the severance. I remember about a month after leaving Constellation, my wife said to me, “I can’t believe we are thinking of going out on our own.” To which I replied, “Honey, we’re not about to go on our own. We’re already on our own.” And that’s a big difference.

DD: Your Top 5 suggestions for aspiring entrepreneurs.

BM: Top five? I say the top one: take the red pill. Once you realize how rich life can be when you take risk and follow your heart, there is no looking back.

DD: How are you now and how do you feel?

BM: Started the Plimhimmon Group, which started the Smith Island Baking Company and made an equity investment in Triumph Products (which owns TORO shave oil). Both start-up companies have a long way to go, and they both have huge potential. Life just gets richer the more you step out in faith.

DD: Agree. One last thing, I have heard you’re running for the Governor of Maryland.

BM: Yes. What can I say? Once you decide to leave your comfort zone and attempt great things, the world just keeps presenting you with opportunities.

DD: WOW!! It is such a pleasure and inspiration to talk to you today, Brian. And, good luck with the elections!

BM: Thanks Devesh, I enjoyed the talk and good luck with your blog and book. Keep up the good work!

So, ladies and gentlemen, this was Brian Murphy… Brian’s bakery will be featured on the cover of April’s Wharton Magazine, and was already featured in the Washington Post.

And my favorite part is that yes, he is running for Governor Check it out: Brian Murphy 2010

I wish all the Governors, Senators, and our President, were as entrepreneurial as Brian.