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I feel this article had great potential, but it somehow strayed away and missed a lot of important points. As well, the title should be along the lines of “Unde
by lichichen 15y ago
I feel this article had great potential, but it somehow strayed away and missed a lot of important points. As well, the title should be along the lines of “Understanding Entrepreneur Values” or of such. And Swombat I would love to hear your thoughts on the concept of “how to stay true” “questioning values” and digging deeper into the basic concepts we have build around the idea of “Entrepreneur”
That being said, here are my thoughts.
1) I don’t feel the notion of “Good Vs. Evil” is remotely relevant. They are labels we put on Social accepted behavior. Instead, the argument should revolve around then notion of how Entrepreneurs respond to incentives, for instances in the case of “Should I sell my company for x million, and leave my employees in the cold” or dealing with pressure “My company is not doing so well, shall I cut back on my CRM program, or fire employees”
These are more related to the notion of “entrepreneur value” where as serving the customers and having good employees are high value tasks, and choosing between one may come down to what is “valued” higher for the founder.
A more psychology related piece on being a founder:
http://bhorowitz.com/2011/04/01/what%E2%80%99s-the-most-difficult-ceo-skill-managing-your-own-psychology/ http://bhorowitz.com/2011/04/01/what%E2%80%99s-the-most-diff...
2) I would also like to take a minute to explore some of the entrepreneurial values as listed by OP and dissect reasons behind the actions. If we are talking why some Entrepreneurs put “treat customers right” above the “bottom line” or vise versa, it really isn’t much about being a “good” entrepreneur or a “bad” entrepreneur. In the book “Confession of an Ad Man” by David Ogily, he argues that the reason behind why companies are not putting a lot more marketing dollars into their marketing programs is because often consumer sentiment and marketing results is an un-measureable thing. As a business student, I can tell you that we are trained to be scientist, in the sense that we are taught scientific methods that are based on quality research that someone somewhere has quantified. Something that is unquantifiable is a scary thing, because
A) We cannot prove it’s success
B) We are not sure if we are doing it right
C) Shareholders would have a hard time grasping the results
As humans, we like to be right in the most efficient manner. Therefore anything unquantifiable, like investing behind raising consumer values is a scary thing. Hence why a lot of businesses care more about bottom line then customer experience. Although this trend is changing =]. Now you might be thinking, can’t we peg a value against returning shoppers and aren’t there a lot of studies in the recent support the notion that returning customers have a high value. Yes and yes! Again, companies are slowly moving toward that direction and almost all (and their shareholder) still measure success based on bottom line. Overall, It’s not the notion of Good entrepreneur vs Evil entrepreneur, but external and personality traits that affect action.