The Importance of Entrepreneurial Capitalism in Today’s Society
Capitalism is not a contrivance: it is a manifestation of nature. No person, committee or nation invented it. They didn’t have to—it just happens naturally as an essential means of survival and advancement. The same is true for entrepreneurialism. Freedom is our natural state as humans; free-market capitalism is its natural manifestation. The wealth of individuals, communities, and nations comes first from the world of business where producers and consumers of goods and services meet in free, mutually rewarding exchanges. Everyone benefits from the natural and necessary fruits of capitalism. Even freedom-depriving systems such as socialism, communism, and dictatorships must…
5 Layers of Symbiotic Profits
In previous blogs, I have described profit as a wonderful word that connotes a concept that is essential to all forms of life for survival and advancement. Here I will show that your company’s profits reach far and wide to quietly contribute to the prosperity of individuals and their communities. Our bottom lines grow with the profits of our constituents; our recorded profits come as a result of win-win relationships among 5 groups of stakeholders. Our companies are systems that function like machines. They are comprised of parts that work together to meet needs. Just as machines are systems that sputter or…
How to Achieve Work-Life Balance as an Entrepreneur
Here are two definitions worth memorizing about an entrepreneur: Enterprise n. An undertaking, especially one of some scope, complication, and risk. Entrepreneur n. A person who organizes and manages any enterprise, especially a business, usually with considerable initiative and risk. Based upon the common definition of enterprise, everyone’s life is one. We all deal with issues of large scope that call for complex decisions and involve potential risks. Whatever we choose to do in life, we face the constant risk of not making the best decision. In fact, life management involves more issues with lasting consequences than the largest of…
Economic Freedom, Part Two: Our Path to a BestPossible Nation
On Monday, I registered my concern that our great country has slipped from sixth position to tenth position since 2009 in the Heritage Foundation’s Index of Economic Freedom. In the second part of this Independence Day-inspired series, I’d like to outline a route to recovery for the U.S. and propose a way for our great country to realize its own BestPossible self. A BestPossible world is achievable by definition. It would be composed of nations with a weighted average economic freedom score approaching 100. The latest Heritage Foundation data shows that the average score for 185 countries evaluated is 59.6…
Economic Freedom, Part One: Where the US Stands – and Why
The Fourth of July is a day for all Americans to reflect, appreciate and celebrate our freedom. It’s what Independence Day is all about. However, our own Declaration of Independence from Great Britain turned out to be a declaration of freedom for the whole world to hear and match. Our country has come a long way since 1776. After 237 years, let's take a quick look at where we are now and how we got here. Every year the Wall Street Journal and The Heritage Foundation, a Washington, D.C.-based conservative think tank, publishes the Index of Economic Freedom, a study…
The Noble Nature of Profit
Profit is not a four-letter word. The more you understand this truth, the less vulnerable you will be. And the more you learn about the noble nature of profit, the more prepared you will be to master your own destiny. Nature promotes all forms of life with a flawless, profit-based incentive plan that inspires action by rewarding success. Plants profit from their use of sunlight to transform water, soil and atmospheric carbon into a cornucopia of fruits, fiber, refreshed air and seeds for endless propagation. Birds profit from the energy they invest in annual migrations north or south. Animals profit…