As we approach the celebration of America’s independence, we often find ourselves caught up with flags, family barbeques, and, of course, fireworks. We tend to forget that the freedom we enjoy comes from our founding fathers working tirelessly with the tenacity to think outside the box, the courage to take risks, and the vision of something better for everyone.
However, as business owners, it is also an opportunity to reflect on the idea that our founding fathers laid the foundation for the American Dream- the vision that everyone can succeed through hard work and perseverance. These men who signed the Declaration of Independence built our country with an entrepreneurial spirit. In their search for freedom, our founding fathers risked everything to follow their vision. They understood that they were facing impossible odds; but the end result would be worth it. They surrounded themselves with intelligent, innovative people and invested in a dream that was destined to become a reality.
It is often overlooked that before Washington, Jefferson, Franklin, and many other signers of the Declaration led the country into a revolution for freedom - they had already revolutionized the American way of life. These self-made men had innovative ideas and a robust business acumen that paved the way for the likes of Steve Jobs and Bill Gates.
According to SCORE, an organization that supports and mentors small businesses, our Founding Fathers are the “role models for entrepreneurs across this nation.” They planted the seed that jumpstarted the American economy by putting an idea in motion, surviving the ups and downs, and eventually becoming a success. Let’s take a look at the entrepreneurial characteristics these men brought to the table before America was born.
Benjamin Franklin: Think Outside the Box
Blaine McCormick’s book, Ben Franklin: America's Original Entrepreneur, Franklin's Autobiography Adapted for Modern Times, shows that Franklin was much more than America’s great inventor and first diplomat; he was also a savvy businessman who utilized his mind to run successful businesses.
Franklin viewed the world as something that could be continually improved through adaptation or invention. He thought outside the box in terms of business and his unique perspective gave him insight about gaps in the market. As a matter of fact, him realizing that a third of his fellow settlers in Pennsylvania were German-speaking inspired the launch of the first newspaper printed in the colony.
In addition, Franklin may very well have been the first open-source advocate as he never patented a single of his many inventions, believing them as gifts to the public.
George Washington: Ambitious and Hardworking
SCORE refers to George Washington as “one of America’s leading entrepreneurs.” Following the death of Washington’s father, he worked tirelessly to transform his family’s Virginia farm into a booming industrial village. Similarly, before the revolution, he ran a fishing operation that exported over a million fish per year. Washington also built a wheat mill that that produced flour that was shipped throughout the colonies and overseas to England and Portugal. And if that wasn’t enough, he also built one of the largest whiskey distilleries after leaving the presidency.
Thomas Jefferson: Life-Long Learning and the Value of the Free Market
Thomas Jefferson was one of the nations’ strongest advocates for a free and open market. He believed that the government could not run a commercial enterprise as effectively and efficiently as a private enterprise, nor produce its goods as cheaply. He believed that the public was better served when buying goods produced privately.
Throughout his life, Jefferson was willing to learn. He continually challenged himself and believed that gaining new knowledge and skills was the surest path to success. His mind was open to new ideas and inspired those around him to strive for their best. Jefferson was a skilled statesman, philosopher lawyer, scientist, musician, architect, author, farmer, and was fluent in five languages. In addition to being acquainted with the influential people in America and Europe, he also enjoyed relationships with farmers, merchants, tradesmen, and artisans. Jefferson’s correspondence and writings reveal that he understood the value of relationships and thought it was natural human nature to relate to one another in ways that proved mutually beneficial.
Alexander Hamilton: Determination and the Value of Small Business
Alexander Hamilton was the product of a deplorable childhood, orphaned at age 12 alongside his brother. However, despite these obstacles, Hamilton managed to persevere and become self-reliant.
By having a motivational drive and relentless determination, Hamilton supported himself as a serving clerk at a mercantile establishment and later apprenticed to a firm of international merchants. It was here that Hamilton developed a fondness for capitalism as a system that provides equal opportunity and rewards individuals sufficiently determined to persevere.
As you can see, these men set the stage for life, liberty, and the pursuit of happiness. They also paved the way for future entrepreneurs. As business leaders, we can see that there is a wealth of knowledge left to be learned from our founding fathers. I believe that their risk-taking, innovation, and a fully realized mission not only laid the foundation for a great nation, but also for great businesses. Through practice, philosophy, and a shared desire for independence, our Founding Fathers set our country on a course destined for success.