(AURN News) — Simon Sinek says entrepreneurs who want to change the world should stop chasing growth at all costs and start building businesses like social movements.
Sinek is one of the most recognizable voices in leadership and entrepreneurship. He is known for the idea “start with why” and is the author of “Start With Why,” “Leaders Eat Last” and “The Infinite Game,” books that have influenced business owners, executives and leaders around the world.
In an interview with AURN News, Sinek said entrepreneurship has been pushed in an unhealthy direction over the past 30 years because of pressure from private equity and venture capital.
“Entrepreneurs that want to change the world need to build their businesses like social movements, not build their businesses to help a venture capitalist extract profit in five years,” Sinek said.
Sinek said entrepreneurs should not only study companies that sold for billions of dollars. He said they should also study leaders of social movements and build around purpose, cause and belief.
“You’re cause based. You’re driven by cause, you’re driven by purpose,” Sinek said.
For Sinek, that begins with the idea that made him famous: start with why.
He said leaders who know what they believe can attract customers, partners and employees who believe the same thing. That kind of loyalty, he said, is more powerful than simply chasing the largest possible audience.
“The best partners, the best clients, the best customers are the ones who believe what you believe,” Sinek said.
Sinek said there is no perfect time to start a business. In a good economy, he said, it may be easier to find customers, but there is more competition. In a bad economy, he said, it may be harder to find customers but easier to stand out.
He also warned that entrepreneurship is not for people motivated only by fame or money.
“If you’re driven by fame and fortune, then you’re just gambling,” Sinek said.
Asked what encouragement he would give to Black America and Black entrepreneurs, Sinek said community is critical.
“Success is a team sport,” Sinek said.
He encouraged Black entrepreneurs to find other Black entrepreneurs and make it their mission to help them succeed.
“Find another African American entrepreneur and make it your mission to help them succeed,” Sinek said.
Sinek said entrepreneurs need safe spaces where they can be honest about struggle, pressure, emotion and uncertainty. He said one of the biggest mistakes entrepreneurs make is thinking they always need to have the answers.
“The greatest thing you can learn is to say, I don’t know. Can you help me?” Sinek said.
For business owners trying to build loyalty, Sinek said the answer is simple but not easy: care deeply about the customer.
“The companies that are obsessed with their customers and clients are more likely to build loyalty, versus the ones that are obsessed with themselves will struggle,” Sinek said.
Sinek said his books come from his own journey. “Start With Why” came from his struggle to reclaim passion for his work. “Leaders Eat Last” came from his desire to understand trust. “The Infinite Game” came from his belief that idealism and long-term thinking are strengths, not weaknesses.
For entrepreneurs, leaders and business owners trying to build something that matters, Sinek’s message is clear: know your purpose, build with community, serve others and don’t try to do it alone.
Click play to listen to the AURN News report from Jamie Jackson:
