Tonight I will be participating in an annual event that recognizes high performing entrepreneurs in my county. It is a privilege to be a part of this process and have the opportunity to acknowledge the accomplishments of many talented individuals. Some of the business leaders I personally know well others I do not. The common bond that connects all of them for me is their willingness to bet on themselves, take considerable personal and professional risk and persevere through the most difficult recession in 70 years. They didn’t just survive these past few years. They managed to keep a success mindset and keep pushing forward.
It’s important to celebrate the successes of your peers and build a sense of community amongst like-minded people who share a common experience. Being an entrepreneur is very hard work. Depending upon how you interpret the numbers only about 5-10% of the population every takes the leap and becomes self-employed. Even more rare are the individual leaders who actually manage to hire people and build a company. Success is much more difficult than survival and if you want to look at businesses that actually grow their top and bottom line year over year especially after the first 5 years, the number is closer to 1% of the population. The last time I looked at the data more than 600,000 businesses declare bankruptcy every year. In addition, very few businesses ever exceed the $1M mark. So, when you identify someone who has defied the odds and grown a successful business it warrants your attention and respect.
There is a dark side to our competitive nature as individuals that often begrudges the success of others. I’m not sure why this and there are probably many psychological and neurological explanations. What I do know is that individual success is good for a community. In business this means more people get hired, employees have steady and stable incomes, more vendors get paid, tax revenues go up, charitable giving increases,and more discretionary dollars are spent on other things. The good news with entrepreneuers is that most of the fruits of their success stays local. We should root for as many people to be successful as possible.
Life isn’t a zero sum game. Even if the other person is your competition, it’s best for them to push you to innovate and perform at a higher level yourself. Just look at gas sations. Somehow they mange to coexist often operating in the same intersections targeting the same customers. Success that isn’t properly earned is usually built on a shaky foundation. When it comes to business, I often believe the more the merrier. Healthy thriving communities have healthy thriving businesses. I wish more politicians and civil servants would make this connection.
I was raised to look for the good in people not the bad. My parents genuinely appreciated the talents of others in many different walks of life. I also do believe that “a rising tide lifts all boats.” I encourage you to be on the lookout for people doing something good in your community and acknowledge their accomplishments. Spend equal if not more time identifying what’s right with the world rather than what’s broken. Celebrate your peers!
- Ernst & Young insight: Getting to the core of successful entrepreneurs: eight things top entrepreneurs do differently (business.financialpost.com)
- 9 Common Myths About Entrepreneurs (grasshopper.com)
- How They Started Offers Lessons, Inspiration for Startups, Entrepreneurs – PR Web (press release) (prweb.com)
- 9 Qualities of Remarkable Entrepreneurs (inc.com)
- Entrepreneurs can achieve anything (startupnorth.ca)
- 8 Qualities of a Successful Entrepreneur (smallbizbee.com)
- The 7 Habits Of Wildly Successful Entrepreneurs (forbes.com)
- Fostering Entrepreneurialism: Thoughts About Economic Development Gardening (chuckeckenstahler.wordpress.com)
- Something Magical is Happening in Boston Right Now, and it’s Going to Make History (bostinno.com)
- Leadership Thought #358 – Celebrate Your Successes! (edrobinson.wordpress.com)
- Women Entrepreneurs Are Creating Jobs: An Interactive Timeline (whitehouse.gov)
Filed under: Business, Personal, Your Actions | Tagged: acknowledgement, business, celebrate, community, competition, Entrepreneur, Entrepreneurship, healthy communities, peer, Small business, success |