Lessons for Entrepreneurs from MLK

Having celebrated his 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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Published in: on January 16, 2018 at 4:30 am  Leave a Comment  
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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

Who Benefits from True Leadership?

Much has been written about leadership (as opposed to management) and what makes a great leader. A few thoughts here on who benefits from true leadership.

Abraham Lincoln, Mahatma Gandhi, Martin Luther King, Nelson Mandela and similar leaders have proved again and again that their inspiration and leadership benefited their followers rather than themselves. Lincoln abolished slavery; Gandhi and Mandela led their nations to independence; and King inspired the civil rights movement. They had little to benefit for themselves; Lincoln, Gandhi and King were assassinated while Mandela spent a lot of time in prison, yet their people came out ahead.

A  truly “successful”  Entrepreneur needs to provide leadership that first benefits his/her stakeholders and society. If and when the stakeholders and community prosper, the Entrepreneur will be rewarded also. If only the Entrepreneur benefits, it is usually short-lived.

A true leader sees a universal need and goes about influencing people to work together to solve the issue at hand. Bill Gates and Steve Jobs first solved a global need and then became rich. They did not start out to become rich.

There are many successful executives, managers and even Presidents, but are they true leaders?

What would you rather be? Something to think about….

Ravi Patel

www.patelCFOservices.com