Good to Great author Jim Collins on the #inc500 stage."7 years in, Wal-Mart had 2 stores. 13 years in Starbucks had 5 stores. 8 years in, Nike had only $2 million in revenue. Most overnight success stories are about 20 years in the making."
After attending the Inc. 500 / 5000 conference last week, I was amazed at the depth of which successful entrepreneurs will go to reach out and help other entrepreneurs at any stage in their business lifecycle.
Maybe it’s because we all “chew the same dirt” and face such similar obstacles that must be overcome in both launching and growing a business, large or small. Or just maybe part of the definition of being an entrepreneur simply means that what you’re about is helping others and adding value to both customers and the community at large. Some altruistic behavior seems to inherently be in the livelihood of the successful entrepreneur.
And then there’s the thought that perhaps the people who fail at their businesses might be more apt to be the ones out there just to make a buck without regard for the people who either have, or have tried, to help them along the way. Maybe the unsuccessful don’t think of the ramifications of steamrolling others without giving back in some way, without reaching back to find those less fortunate or who are just getting started and pulling them along and up the mountain with them.
I think Jim Collins’ quote about how most seemingly overnight business successes take 20 years to create is appropriate even for these times. It’s not easy to start a business. It’s never been easy and it will never be all that easy, except it can be made “easier” when business owners who’ve been through it and have reached a certain level of success share those learnings with others and provide assistance where possible.
We hear a lot about entrepreneurism right now, as if it is a fad or trend, and perhaps born out of necessity with the job market the way it is in our current recessionary economy. I believe it will continue for a few reasons:
- People do still want to manage their own destiny and that desire isn’t going to go away any time soon
- The entrepreneurs who focus on building something for others are, more often than not, the more successful ones
- After attaining some level of success, there is satisfaction in helping others – perhaps even a responsibility or duty to do so – whether it is helping the general business community or other like-minded entrepreneurs
The Small Giants Community is just one example of how successful entrepreneurs give back. It was co-founded in 2009 by Bo Burlingham and Paul Spiegelman, and was based on Bo’s book, entitled Small Giants: Companies that choose to be Great instead of Big. “It is about being values-driven and building cultures of excellence that make the world a better place, not just about building a bigger company,” they say. At last week’s Inc. 500 / 5000 conference, I specifically remember Paul Spiegelman talking about how Small Giants is an opportunity to teach a core set of ethics and values that create measurable results.
And one more thought about entrepreneurs. It always seems like the best entrepreneurs select the best customers. Not quite sure how that works always but often the chemistry just matches up and people end up working with people who share the same values in the entrepreneurial world.
Of course, just like the stories in my book, all these thoughts are based on my own entrepreneurial experiences and in sharing those with others.
I sincerely enjoyed giving a hot-off-the-press copy of 15 Bedtime Stories That Keep Entrepreneurs Awake at Night to several people who helped me in the process as a simple act of appreciation for their time, advice and endorsements of my project. I’m honored that they took the time to help me complete this project and can’t wait to return the favor to other entrepreneurs who need a helping hand to move forward in some way or to overcome obstacles to achieve their goals. If we can be of service to you in your business quest, just call our office at 804.282.8788 and we’ll be glad to offer guidance in any way possible.
