The Harbour Pilot

I introduced you to Bernie on my last post. Obviously, I have changed names and lines of business and some other details, but he was an unusual man, even amidst a class of entrepreneurs.

Entrepreneurial Attributes

In my first post on an entrepreneur’s reality, I mentioned a number of attributes, and three fundamentals. Amongst the attributes were

• a desire for independence and control over their work product and work environment
• some resistance to authority figures
• high energy level, accelerating when challenged
• they site trust in themselves, and not externally

Bernie, in taking responsibility for his business at age fourteen, was required to make decisions that effected the livelihoods of many others. It is not possible to take responsibility if you do not have a matching level of control. This is a management axiom at many successful companies. If you give a division president bottom-line responsibility, you must also give them the appropriate control. However, a division president still has a corporate office, and they in turn have a board of directors, and they in turn have shareholders. An entrepreneur has himself, and the results. Period

Bernie’s view of external authority flowed from this. If he was accountable to reality, then other authorities who were not accountable, frequently had to be disregarded. Bernie distrusted those with authority, but no accountability. In this class, he frequently placed politicians, academics, many in the legal profession, and most technical experts.

Bernie learned very early that challenges have consequences – fail to surmount them, and you will go hungry. He developed the habit of raising his energy level and drive when confronted with most challenges. In his view, it was fight and win now, or go hungry later. He typically preferred to fight now.

Bernie trusted the most knowledgeable person – and one he could trust to defend his interests. That person was, not surprisingly, Bernie. He is the only business person I know who had studied the entire Business Corporations Act. He did not trust others to defend his interests, nor to be as aggressive in his defence as he would be. He trusted himself – others, not so much. Sometimes this is perceived by external observers as being mildly paranoid. In fact, this is a simple truism in business. They are out to get you, most of the time, because that defends their interests. Your task is to defend the interests of your own business, with every ethical means.

Entrepreneurial Fundamentals

Flowing from this are the three fundamentals.

• view of human beings
• views of many societal institutions
• value systems

Bernie’s definition of a human being was an adult who asserted control over themselves and their life. Anything else was the behaviour of a child, and children were not trustworthy. This is a harsh view. It does not imply that he held others in contempt. He had some appreciation for children, in their proper place, but such place was no where near his business. Whether the child was 10, or the child was 40 made little difference to him.

Bernie’s view of many societal institutions was simply that they had the luxury of pretending that reality – hunger, endless work, taking risks, conserving valuable assets, and eliminating waste – did not exist. As such, he considered them frequently artificial, unable to meet their stated objectives, and often, corrupt.

Bernie held a value system, usually not voiced but evident in his decisions. That value system revolved around character traits that were beneficial in his environment. These were

• independence of mind and individualism
• knowledge and skill
• drive
• focus and single-minded purpose
• respect for reality

These stood him in good stead throughout a distinguished entrepreneurial career.

The End of the Story

Well over time, Bernie prospered. The business expanded into a chain of warehouse and distribution points that were geographically dispersed. His line of products widened. Revenue grew, and his portfolio of working assets was greatly enhanced. From simple beginnings, fuelled by drive, focus, and independence of mind, the enterprise proved not just successful, but became a launchpad to ventures in other construction materials, relationships with mills, and international investments in real estate. All of these were driven by the same core assets that Bernie brought to entrepreneuring. Making money is not that hard – you simply have to work like a demon, and spend years focused purely on your projects.

Questions for You.

Do you know a Bernie? Do they share similar attributes? Do you have the makings of a Bernie? Can you be taught to be a Bernie?