The Friday after President Obama was inaugurated, I had a chance to spend a day in Toronto in the company of about 25 business owners from all over the U.S. and Canada. The gathering’s agenda was wide-ranging but focused mainly on ways for each of us to make smart decisions about our individual companies. In one exercise, for example, we devised concrete steps we could take to grow our businesses by a factor of 10--either in profits or revenues. Keep in mind that all of this took place as the economy was enduring its biggest swoon since WWII and many in the room were having their worst quarters in their professional lives. Still, the participants, from varied industries such as real estate, finance, manufacturing and technology, approached the day’s activities--including the “10X” exercise--with relish.
The setting was labeled as an entrepreneur’s event but I prefer the term “wealth creator” to describe the attendees because we were all there to grow and create more wealth--for ourselves, for our families, for our employees and shareholders, and for our customers and communities. When the talk turned to current events, these wealth creators urged a common refrain: “don’t waste this crisis.”
What a refreshing sentiment! While most people I know are preoccupied with how to survive through dark economic days, here was a group that sees it as an opportunity! Coming from gloomy Gotham where I live and work, it was comforting to bathe in the warm waters of their optimism. I was more than happy to spend the day away from the squabbling and dysfunctional siblings that monopolize the conversation on the east coast: big money, big media, big government and corporate America.
What’s more, this group’s ideas stretched far beyond personal enrichment. Several felt they had enough money already and now wanted to use their wealth and influence on behalf of their community at a time when people needed it most. Or to modernize their business to sustain itself for future generations.
