Tag Archives: enlightened

Pandemic notoriety: Naughty or Nice?

Which list are you on?

 (This article is based on the ideas in Uncle Ralph’s books for entrepreneurs, DON'T DO IT THE HARD WAY & The Complete Do-It-Yourself Guide to Business Plans.

“Awesome! What a profit opportunity!”

Probably not what you will be reading in the press releases.

It will be all about the socially responsible entrepreneur, pivoting and showing remarkable resilience and creativity. Re-aligning research and manufacturing processes toward the production of face masks, hand sanitizers, personal protection devices, ventilators, emergency care facilities and Covid-19 vaccines.

Companies in the right place at the right time, like Amazon, FedEx, Pfizer and Uber all exploited the unprecedented opportunities of the global pandemic. Their billionaire owners and the happy shareholders saw unexpected jumps in revenue and profits while so many other businesses were devastated in the retail, hospitality, travel and entertainment industries.

But, since “exploited” and “profits” are dirty words, if not cardinal sins, to many people, did these companies end up on the Naughty List? Or did they do well by doing good as enlightened entrepreneurs are supposed to do. What about the businesses that failed to make the most of a good crisis?  They’re now on the naughty list of both their unemployed workers and their unhappy shareholders.

It’s been a challenging test for us all. As business owners and as customers and consumers, we now have to live with the consequences.

Which list are you on?

Be better. Do better.

Del Chatterson, Your Uncle Ralph

Learn more about Enlightened Entrepreneurship at: LearningEntrepreneurship.com Read more of Uncle Ralph's advice for Entrepreneurs in Don't Do It the Hard Way & The Complete Do-It-Yourself Guide to Business Plans - 2020 Editions.

 Read more Blog posts at: LearningEntrepreneurship Blogs


The need for Enlightened Entrepreneurship

My mission with LearningEntrepreneurship.com is to promote what I call “enlightened entrepreneurship.” I didn’t coin the phrase I’m sure, but here is my definition.

Enlightened entrepreneurship: business leadership that recognizes that doing better for the business also means doing better for employees and their families, for customers and suppliers, for communities and the planet. Enlightened entrepreneurship manages a business to achieve its economic objectives while also recognizing and meeting its social responsibilities.

The expectation may be hopelessly ambitious or naïve, but I believe it is in fact the only way to build and grow a long-term sustainable business. We should expect nothing less. If the entrepreneur is focused only on making money, then the consequences for everyone, including the entrepreneur, are likely to be very negative. Growing a business is never as simple as making short-term profits. (Mistake #4 of the Seven Biggest) It requires looking at the bigger picture and managing assets and resources to support long term business value.

Bplan strategyEnlightened entrepreneurship is not a moral or ethical imperative, it is simply good business management. It’s not a new idea, it’s just a logical extension of the principles of building sustainable long-term value in a business by continuously satisfying all the stakeholders – employees, customer, suppliers, shareholders, governments and local communities. Ultimately, they will decide whether they are willing to support you in making your business succeed. It is never entirely up to you.

So start thinking “enlightened entrepreneurship”. There is no other way that works.

Read more at: Learning Entrepreneurship Blogs…

Your Uncle Ralph,

Del Chatterson

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And check out two new books by Uncle Ralph, "Don't Do It the Hard Way" and "The Complete Do-It-Yourself Guide to Business Plans." available online or at your favourite bookstore. To learn more or buy a copy: Click here