In an April 23 ceremony where students were challenged to “own the outcome” of their actions, President Connie Ledoux Book bestowed the Elon University Medal for Entrepreneurial Leadership on a former chair of the Board of Trustees renowned for his people-first business philosophy.
An accomplished member of the Elon University Board of Trustees was bestowed with the university’s top award for entrepreneurship in a ceremony celebrating a career that blended industry innovation with a deep commitment to mentoring young people.
Dave Porter P’11 P’19, owner and managing partner of Baystate Financial, one of Massachusetts’ oldest and largest financial planning firms, received the Elon University Medal for Entrepreneurial Leadership on April 23 inside LaRose Digital Theatre.
Porter, who recently concluded service as chair of the Board of Trustees, accepted the medal from President Connie Ledoux Book and Raghu Tadepalli, dean of the Martha and Spencer Love School of Business.
In his acceptance remarks, Porter described what he calls the two gifts each new day delivers: a chance and a choice. “If you choose comfort, you’ll be comfortable for a while,” he said. “Choose discipline and you’ll change your future.”
After high-school athletics eclipsed academics in Ramsey, N.J., Porter’s first college mail contained mostly rejection letters, including one from West Chester University in Pennsylvania. Unwilling to accept the decision, Porter drove 150 miles to the admissions office, requested an interview, and walked out with an acceptance letter written on the back of the original rejection.
“That moment,” he said, “proved you can change your future if you own the outcome.”
Early missteps, most famously faxing a confidential salary sheet to the wrong law-office number, taught him to “fix errors fast, learn and move on smarter.”
When he became managing partner of Boston-based Baystate Financial in 1996, the firm tallied under $1 million in annual revenue; today it serves clients from 16 offices across New England.
“Growth came from one rule—promise integrity and hire people who keep those promises,” he said.
Putting people first remains central to his leadership. Porter writes three handwritten thank-you notes each morning, a practice that has filled seven storage crates with replies.
“A quick ‘hello, how are you?’ or a handwritten note can change the trajectory of somebody’s day,” Porter said. “Write those notes with the same discipline you bring to hitting your goals.”
Highlights from a Q&A with students
- On staying motivated after setbacks: Long-term drive comes only when people “own the outcome” of their goals; external rewards fade quickly.
- On launching a venture right out of college: Assemble mentors who deliver “truth-telling feedback,” starting with professors willing to critique both ideas and character.
- On life immediately after graduation: Explore service, travel or nonprofit work while expenses are low; constrained experiences reveal authentic passions.
- Most enduring lesson from a mentor: A former boss bought him 12 pocket-less shirts to cure sloppy pen storage – proof, Porter said, that small details broadcast personal standards.
- A first no-nonsense investment: Porter recommended the Vanguard 500 Index Fund for its low fees and simplicity.
In 2011, Porter endowed the Porter Family Professional Development Center at Elon, which provides resources to assist students in preparing for and acquiring internships, full-time employment or graduate school placement after graduation.
Porter and his wife, Jen, are the parents of five children, including Tim Porter ’11 and Jack Hubley ’19, and three grandchildren.
Joshua Mason ‘25, lead scholar intern with the Doherty Center for Creativity, Innovation and Entrepreneurship, introduced Porter at the ceremony. Mason called Porter’s mantra of “doing well by doing good” the backbone of his own venture: Fate Line AI, a startup that delivers technical solutions to small businesses.
Doherty Center Director Dina Rousset concluded the program by reminding attendees that “an entrepreneurial mindset isn’t just about launching companies – it’s about choosing to see possibility everywhere.”
About the Elon University Medal for Entrepreneurial Leadership
The Elon Medal Award for Entrepreneurial Leadership is co-presented by the Love School of Business and the Doherty Center for Creativity, Innovation and Entrepreneurship. Since 2009, the award has been given to an entrepreneur who is a leader in industry and who exemplifies the values of Elon University. These values include integrity, innovation and creativity, passion for lifelong learning, and a commitment to building a dynamic community.
About the Doherty Center for Creativity, Innovation and Entrepreneurship
The Doherty Center for Creativity, Innovation and Entrepreneurship was established by an endowment gift from Ed and Joan Doherty, entrepreneurs from Saddle River, N.J., and parents of Kerry Doherty Gatlin ’07. The Dohertys have served on the university’s Parents Council, and Ed Doherty currently serves as an Elon Trustee. Their company, Doherty Enterprises, Inc., is one of the nation’s leading franchise operators of quality family restaurants, including Applebee’s Neighborhood Grill & Bar, Panera Bread and Chevy’s Fresh Mex.