Ageless Entrepreneur. Fred Dawkins
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we fail we know we have to change so we analyze what happened, looking for reasons. On the other hand, when we succeed we develop a sense of infallibility. Believe me, ‘entrepreneurial infallibility’ is a real phenomenon, one that’s taken some successful people down the second time around.”
Still the questions kept on coming plus there was going to be a book signing. I was concerned there’d be no time to talk to Sam before he left. A twenty-something girl brought up an issue that should have been significant for everyone.
“You mentioned decline in upward mobility. What did you mean by the historical norm for the middle class?”
Sam grimaced before answering that one. How to be frank but not practice fear mongering?
“The thriving middle class as we know it pretty much parallels my life, which means the last seventy years. Before that, capital got the rewards and the rest of us subsisted, trapped in our lower-class lifestyle. There were always exceptions, but they were few. Between technology and education the last seventy years have opened up opportunity for the great unwashed. Thanks to technology the quality of life changed dramatically after the Second World War, and that’s continued. Thanks to education, upward mobility for large numbers became a reality, swelling the ranks of the middle class. As opportunity increased entrepreneurs found ways to capitalize. However, with the demand for labour in decline and the supply of labour on the rise, labour as a resource has lost its leverage and capital is already reasserting itself to claim the higher rewards that traditionally accrue to investors. Entrepreneurship depends on opportunity. Determination on its own is not enough unless you’re one of exceptionally few. Returning to the historical norm means a decline in opportunity, more barriers to upward mobility, and much greater discrepancy in wealth between the super rich and the rest of us. It’s already happening, and fast. Just ask Dominic.”
The next question came from the mayor, Margaret Castlefield, who had actually been invited to thank Sam but for some reason had become more engaged than anyone expected. Sam did not know her before, but they’d been introduced when we arrived.
“What is the proper role for government in promoting entrepreneurship?”
Sam laughed at that one.
“Thanks for asking, Madame Mayor. It’s a critical concern for both the private and public sectors but the full answer will take much more time than we have today. Without going into the details of how, the challenge for governments at all levels is to work in conjunction with social entrepreneurs to deal with societal issues that create barriers to opportunity. The answer does not lie in making value judgements and investing public funds in a whole range of misguided incentives to get individuals to do what governments want. That removes the test of viability. So first governments need to remove barriers and then get out of the way. The second area where governments can make a contribution is to help create supporting environments or ecosystems that enable entrepreneurs to build successful businesses. The best example of this is what Silicon Valley has become for the tech sector. No other environment in the world creates as much opportunity for the tech industry as the Valley. The experience provides a model for what needs to be done in a whole basket of industries. I would love to discuss this with you later if you want my opinion.”
The mayor nodded her head. She seemed genuinely interested.
The next question came from a middle-aged fellow who I’d seen before but couldn’t place.
“Given that globalization is likely here to stay, can small companies capitalize on global opportunities?”
Now I remembered. His name was Morgan Davis. He ran a small furniture company that manufactured wooden furniture primarily for Canadian embassies. He shipped around the world but only to Canadian government locations. Sam was encouraging.
“Of course they can. There are like-minded small companies around the world eager to do business. With social media you can find them and you can also research foreign markets for your products.”
Sam didn’t have time to expand on his answer before Jim Hammond interrupted.
“Sorry Sam, but we have to start winding things up so you can sign some books. We can take three more questions, but I’ll ask everyone to keep the questions brief.”
There were at least ten more people lined up at the microphones so a few disappointed individuals sat down. The next question came from one of our secondary school principals, David Mills.
“Doesn’t something have to give? Can humans really sustain the degree of change you’re describing? Can we keep embracing the 24/7 work ethic that is being demanded by employers? I personally don’t think so.”
Oh boy, that was going to require a longer answer.
“I can’t answer that, sir. You’re bringing up a serious social issue. As a race we’re in danger of becoming victims of our own success. How do we slow things down? I don’t have the answer for that. On an individual basis Big Data may well overwhelm us. The prospect of trying to keep pace is certainly becoming more alarming.”
Two questions to go. A pregnant woman in her mid-thirties came to the mic.
“Can solopreneurs survive for any length of time, or are they really just a means for transitioning between the real opportunities?”
I was pretty sure that I knew how Sam would answer that one.
“As long as outsourcing is an important option for companies, solopreners will thrive. Too many organizations prefer contracting out to increasing employment, and that’s actually a win-win situation. As a solopreneur you can have three or more employers all paying you a higher hourly rate than they would if you worked exclusively for them but none of them paying for all of your time. They each pay less but the sum of the parts leaves you with significantly more.”
Finally the last question was about to be asked by another teenager, this time a girl.
“I read recently that the federal government has implemented a fast track visa to bring entrepreneurs into Canada. Is this a good idea? We don’t have enough jobs for young people as it is. And since I’m last I’ll ask a quick follow-up: what makes your book different? Why should I read it?”
Sam laughed at the follow up but patiently addressed both issues.
“Yes, it’s a good idea. Entrepreneurs create jobs. More than a hundred countries have policies designed to keep and attract entrepreneurs. There’s a worldwide competition for talent going on. I think that I mentioned how many Canadians live and work in Silicon Valley, it’s close to 400,000. That’s over 1 percent of our population and a much greater percentage of our intellectual capital. We have to find ways to keep our best and most brilliant here and to bring more talent here from other areas. Given the context of our multicultural society we have advantages that will help us attract others. We have both the need and the means to do it, so we must create policies that match.
“As far as the book goes, it’s intentionally an easy read. I wrote it as a narrative. We all love stories. It gave me the chance to offer shared experiences to the readers. Experts still argue that there is no replacement for experience in becoming an entrepreneur, but I believe we can prepare people by giving them the benefit of our experiences in a meaningful way. Readers seem to identify with the characters and relate to their problems. The story provides incidental and painless learning. I am a student of business but I don’t like business texts. I think the approach works but time will tell. The challenge for me was to write about a complex subject that’s becoming much more critical in a way that almost anyone can understand. Basically a common sense guide to changing your life by taking charge of it.”
Finally we were done. The thanks given by the mayor was glowing but brief. We were almost on our way. Except of course Sam spent the next forty-five minutes patiently signing books while I paced back and forth, anxious to just get out of there and present my idea.
CHAPTER FIVE
My Proposal
By the time we left the Legion hall, Sam only had ninety minutes