The Contented Cow Blog

Building Workplaces That Work


Staying Entrepreneurial in an Uncertain Economy

Business Week is currently soliciting solutions to a list of “tough challenges” identified by its readers. While my response to their challenge goes thru the editing process it seemed a good idea to let our readers see it first, before it appears at BW. Here’s my reply to the question, “How do you continue to innovate when the economy is in a recession?”

Truth be known, operating in a difficult economy gives everyone a better appreciation for what it’s like to be an entrepreneur. The wind is chronically in your face, and it seems there’s never enough time, capital, or runway to draw an assured breath. You’re scared, but you keep going. Maybe it’s because we’re too Committed or just too hard headed to give up.

Whether in a start-up or a high-performance team deep inside a larger institution, entrepreneurial behavior involves the relentless and passionate pursuit of an endeavor in which one has a vested interest. By definition, this behavior is contingent upon Focus, Passion, and Trust.

Focus: In the words of former NFL head coach, Jimmy Johnson, “confused players are not very aggressive.”  Even more so in difficult economic times, it is imperative that leaders at every level make darned sure that all hands on deck understand, really understand where the ship is headed, why it’s going there, and what that means. Despite having more communications modes, gear, and doodads at our disposal than ever, we probably do a poorer job of communicating (as in making meaning) regarding this stuff than at any time in history. As a quick litmus test for your own organization, ask the next ten staffers you bump into to jot down a list of the organization’s three (3) highest priorities. If they’re all the same, call me. I’d love to hear more about how you do what you do. If not, get busy.

Passion: Operating in the incredibly difficult, commoditized air transport business, Southwest Airlines flies the same planes to the same places, serving the same stale peanuts as its competitors. (Actually, some of their competitors have recently decided that eliminating the peanuts will be the ‘secret sauce’ to achieving prosperity.) For better than thirty years, Southwest has beaten the competition senseless not so much with planes or routes, but by hiring people who are capable of, and inclined to be a bit more passionate about what they do. In short, Southwest recognizes that there are more folks who have the talent to fly and fix their planes than those who, by virtue of pace, preference, and values fit their merry band. Unlike the competition, they’ve figured out that it should be unlawful to lock customers up in an aluminum tube for long periods with cranky employees. In other words, talent is important, but so is attitude.

As leaders, we need to realize that passion is not a static condition that can be ignored or taken for granted. We must cherish it, invest in it, see that it is well directed, and above all else, set the example to be worthy of its expenditure in our workplace.

Trust:  At the end of the day, trust is the central lubricant that allows the entrepreneurial juices to flow – trust in one’s self, your ideas, the people around you, and in your support systems. Sadly, due to the ongoing reinvention of the ‘deal’ in the workplace, trust is in as great a demand and low supply as well, uh… oil. The pressures of an eroding economy make this even more the case.

If you’re truly worried about keeping alive the entrepreneurial instincts in your organization, this would be a great place to start. Consistent with the premise that people would rather “see a sermon than hear one”, turn off the PR machine, put the lawyers back in their sound proof offices, and begin taking visible steps to demonstrate that you personally, and your organization can be trusted to do what you say you’re going to do. Make it abundantly clear that you’re not going to stop at doing what’s legal, but what is right. In similar fashion, be strident and unapologetic in demanding that those with whom you work and partner are similarly convicted.

I can’t promise you that doing these things will convert your organization to a bunch of fire-breathing entrepreneurs, but it’s pretty safe to say you’ll never get there without them. Good luck and Godspeed!

A thought leader in the areas of leadership and employee engagement, Bill Catlette is a seminar leader, keynote speaker, and executive coach. He helps individuals and organizations improve business outcomes by having a focused, engaged, capably led workforce. For more information about Bill, his partner Richard, and their work, please visit their website at www.contentedcows.com

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