Lessons for Entrepreneurs from Martin Luther King

The nation celebrated Martin Luther King’s birthday yesterday. It is interesting to review what lessons Entrepreneurs can learn from Martin Luther King (MLK).

Dave Kerpen wrote an article on Inc. on January 19, 2004 listing seven lessons from MLK that are still relevant today. Here is my summary:

  1. Dream big – if you don’t dream big, you can’t achieve significant things
  2. Persuade without power – don’t be a “boss.” but be a leader through the power of persuasion
  3. Give people something to believe in – have passion in your Vision so people are compelled to adopt it
  4. Embrace fear and be courageous anyway – be honest with people about the challenges but have the courage to face them anyway
  5. Get everyone involved – Entrepreneurs can’t do everything themselves. They need to have other people involved to build their company.
  6. Create a sense of urgency – have a bias for action to get ahead of competition
  7. Inspire people – without inspiring leadership it merely becomes a job for your people. Have them motivated to fulfill your Vision.

These are lessons that Entrepreneurs can definitely learn from and adopt.

 Ravi Patel

http://www.patelCFOservices.com

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The Courage to Make the Right Decisions

Faced with hundreds of decisions, how do Entrepreneurs go about making the right ones?

Generally effective decisions are made with facts, experience, skills and other people’s input gained over time. Sometimes one’s gut or instinct plays an important role too.

Regardless of how an Entrepreneur arrives at it, the perceived popularity of his/her decision should never be a factor in the decision making process. Do what is right, not what is popular!

Right and wrong does not depend upon how many people are for or against a decision. Entrepreneurial leadership is not a popularity contest, but rather leading people the right way towards fulfilling a common Mission. Popularity comes and goes, but true leadership remains.

Entrepreneurs need to have the courage to make the right decisions.

Ravi Patel

www.patelCFOservices.com

Published in: on May 19, 2015 at 3:28 am  Leave a Comment  
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