Feb 162013
 
Is the entrepreneurial community the future of business?  Thoughts of the Day

Something to closely think about as 2013 moves full steam ahead:  What is the future of business in the West, let alone the world?

Could a concept melding entrepreneurship, in some ways historically considered to be someone(s) who is a lone wolf (-ves), and community, which by its very definition is plural, be the path forward, the ‘Ho Chi Minh‘ trail out towards prosperity, purpose, and to fulfill our potential as born geniuses who have been covered in ‘glaze‘ ?

My answer:  Most definitely.

Why?

Think about it. When you take the ‘edge’ off of the perceived risks of entrepreneurship as compared to its alternatives by mixing it with community, which is rightly perceived as a team who has come together to make the individuals forming it stronger ( ‘iron sharpening iron’ ), you get a potent combination, do you not?

Taking this a step further, we live in a completely new age/era – we are well past the years when people were looked at as mere hands to build widgets while not exercising independent thought; we’re also beyond the time where huge corporations and other big entities dominated the landscape, and everyone felt secure in giving up autonomy and trade it for perceived (false) security. And, are we also not well past the time when your only entrepreneurial pathway was to sign a big stack of papers, putting your entire future on the line, to get a loan to build a business from scratch?

Again, my answer is:  Most definitely.

The issues we have in order to grasp this is to replace traditional thinking, traditional sources of information, and traditional habits for what is already working well. Going back centuries into history, we find that Edmund Burke opined about entrepreneurial communities in his time & place; he called them ‘little platoons’, although he was living in a time when agriculture was still the dominant industry.  Talk about having foresight!  So, now that we live in a time when the internet connects us all, and the ‘six degrees of separation’ have been shrunk to four, is there any reason why the little platoons of yore cannot become the dominant business model of the 21st century?

These communities can & will comprise of men & women who want to learn together, grow personally by applying better quality information into their day to day lives, leverage their investment into their minds by pooling those perceived risks of being an entrepreneur, & al l the while, being the ‘glass cleaners’, the ‘candles in the dark’ for society.

What kind of non traditional, non conformist thinking, information, and habits will be an asset to those who voluntarily choose this path forward?  Let’s ponder for a few:

 

1. Putting aside that winning means someone else loses (‘zero sum’) and trade it for Level 4 thought / Habit 4 from Covey — win:win

2. Tossing aside entitlement and victimology for earned results & personal accountability

3. Understanding that big institutions/entities no longer can effectively offer security, govern society, or be on the cutting edge of thought.

4. Over time, replacing mass media sources ( satellite/cable + radio, FM/AM, newspapers, magazines, et al.) with specialized information culled from the very best in entrepreneurship & community building.  This is a branch off the crucial “Define. Learn. Do” tree that is a base law of success.

5. Realizing that schooling & education are not one in the same. There is nothing at all wrong with conveyor belt & professional track schooling ( K-12 & undergrad/grad/post grad ) so long as they are supplemented by self-directed education, also known as liber/liberty/TJed.

6. Building the habits of associating positively, putting others ahead of yourself ( ‘service before self’ ), reading, and listening.

7. Studying entrepreneurship and applying the skills that these men & women use in your day to day lives within the community (while learning, studying, & growing oneself) & outside of it the rest of the time by practicing top notch people skills.

8. Being very clear on the massive difference between investment and expense.  (using the “Y-D-I-L” equation goes a long way to help make this simple. )

9. Putting mental fitness and physical fitness on the same level playing field. Both matter; a LOT. This seems so simple, yet why do so many not put money into their minds, yet spend so much money on gym memberships?  The latter is very useful, but the former is just as much.

10. Paying forward what you learn inside of the entrepreneurial community with others. Learning is best applied when you teach/coach/mentor someone else who is not yet part of the community with you. The old way would be to ‘hog’ what you know, thinking it would be a competitive advantage; this is Level 3 thought at best, and perhaps Level 2;  Only Levels 4-5 are useful in this developing model.

 

Thank you for reading today, and I hope & trust that this post made you pause, ponder, & stretch your mind. Nothing but the best to you on your journey!

 

 

 

 

 

 

 

 

 

 

 

 

Oct 132012
 
Legacy & the Laws - Resolve to Avoid Decline

I had the privilege & great fortune to read the ‘full version’ of this landmark book, appropriately named ‘Resolved: 13 Resolutions for LIFE’ about 9 mos ago (my full review/recommendation is found on my second blog )

Now, the author, Mr. Orrin Woodward, has released a ‘Primer’ version, which will serve to further spread the crucial message of how important it is for modern day citizens to again build a foundation base on the core principles (resolutions) = those such as Purpose, Character, Vision, Leadership, & Adversity Quotient, to name just a handful.

Today’s post is focused squarely on the capstone resolution, #13 in both editions/versions = Legacy.

Legacy was also discussed in Mr. Woodward & Mr. Chris Brady‘s best-seller (on multiple well known lists!), LLR , as being part & parcel of Level 3 motivation.

In this chapter/resolution, we, the readers, are exposed to a topic that needs a LOT more attention in the world as we know it today, with societies and cultures in many cases declining due to various root causes – such as a lack of leadership, hubris, financial illiteracy, an excessive ‘peace & affluence’ mentality, too much cynicism/doubt, & too much of a focus on credentialism instead of true education. Mr. Woodward has come up with Five/5 Laws of Decline based on the thousands of books he has read, the thousands upon thousands of people he has met, and the many US states, Canadian provinces, and other nations of our world that he has visited.

Below is my brief commentary on these Laws (there’s no way I could top Mr. Woodward’s scholarship 😀 ) & how they tie back into entrepreneurship, freedom values, & setting your purpose to be laser focused on servant leadership & ownership.

5 Laws of Societal Decline 

1. Sturgeon’s Law

– Simply put, 90% of anything is substandard & doesn’t have ‘value add’ — the proverbial “noise” , the chaff to the wheat, to coin a couple simple ways to reframe what Mr. Sturgeon stated back in the 1950’s.  This clearly applies to leadership — how often we associate the word ‘leader’ too loosely to a person with simply a ‘credential’ , a flashy title, a ranked ‘position’ in society.  Once you apply this law, you end up finding out that only 10% of those ‘leaders’ are actually LEADERS. (caps intended for emphasis)

2.   Bastiat’s Law

– I had vaguely heard of Mr. Bastiat back during my professional track (i.e., under-grad) education, however, it took this excellent book to truly bring out how valuable of a contribution he made! I have a ton more to learn about him, needless to say 🙂  In short, though, this law states that the average man or woman will seek to satisfy his/her wants by putting exploitation and ease ahead of earning it through hard/smart work, over time. Therefore, you see how quite a few, sadly, respond emotionally to appeals of non leader politicians who use crass class warfare to pit class against class.

3. Gresham’s Law

– This one is deep!  And, oh so obvious when applied to the institutions that many of us are a part of, deal with, or must interact with daily. It states that non quality/unproductive will triumph over quality/productive; and, furthermore, what’s rewarded will increase over what’s not. There are several great examples in this chapter, however, my favorite, which is very timely, is how the value of the US Dollar, the world’s reserve (fiat) currency, continues to decline, since the Federal Reserve (‘Fed’) continues to devalue it every time they print more to buy more bonds – so, consumption and debt/financing (“money as a master” to Mr. & Mrs. Jones are being rewarded over production and savings/investment (“money as a slave”) to the same folks.

4. Law of Diminishing Returns

– I love the succinct description of this law:  Quantity up, quality down ( once a certain threshold is hit/exceeded.).  How true this is!  This is one reason why there’s so much discontent with large institutions in present day society;  think of it:  how effective is a large governmental agency?  how many mergers can a large corporation go through before its performance and quality of work, let alone the products/services offered show signs of less value add?   That’s why I personally no longer put any confidence in big business, big labor (unions), big government, or big educational institutions. The future is in tribal leadership, communities, entrepreneurship, & leadership/liber education.

5. Law of Inertia

– I am far from a scientist, nor was I a systems engineer like Mr. Woodward in his pre-leadership days 😀   In my eyes, this law is simple – unless you do something that is opposite from the crowd/herd, or more colloquially, the ‘sheep’ , you will run smack into this natural, universal law!  Another way to sum up:  Whatever the ‘CW’ (conventional wisdom’) says is the “right” thing to do – think of the popped ‘bubble’ in the housing market, or the quickly developing ‘bubble’ in professional track education, it’s much better to head the other way.  Sam Walton touched on this in Chapter 17 of his book:  Rule ’10’ , Swim Upstream.

I see a direct correlation from these laws back into having a defined purpose and being an owner/entrepreneur. An entrepreneur builds something to go from problem identified to problem solved, by offering a service to bridge the ‘opportunity’ gap in the middle.  Only entrepreneurs will be able to counter-act/balance these natural laws from causing irreversible decline as they continue to chip away at our societies. The freedom values of ingenuity, initiative, innovation, & tenacity rarely are found in any of the ‘big’ institutions discussed above; however, you’ll find them in abundance when you move into tribes (Seth Godin & Oliver DeMille discuss this in depth: read their books), communities (mini-‘factories’ , little platoons), and in the realm of leadership education .

Readers, please strongly consider investment in yourself – be an owner, build an asset, join a community/tribe, and pursuea add’t self-directed education outside of the ‘credentialist’ big institutions. When you have a purpose of serving others and being a 10% (read: true) leader, you will have taken big steps down the journey of moving against, and not towards/with, the 5 Laws so vividly discussed in this incredible book.

All the very best & many blessings to one and all.