Bruce Lee’s philosophies have been dissected and implemented in other institutions including business. A review of some of his philosophies shows its relevance in building a foundation for successful entrepreneurship.Bruce Lee was a visionary who transcended his realm more than any other pop culture icon, but society was not ready to accept his views
Entrepreneurs face challenges every day
Failure is a reality of entrepreneurship, we should accept and embrace it
- Through failure, we learn to accept human frailty and realize that the journey to entrepreneurial success is not a straight line but one that is fraught with challenges and obstacles
- The ones who can succeed are those who have found the way to overcome these obstacles by working on their strengths while improving their weaknesses
In business, efficiency is a much sought after quality
Entrepreneurs are risk takers by nature and want to be involved in every facet of the business
- This single-minded effort to have absolute control has created issues in efficient time management and inevitably hinders greater productivity
- Success in business hinges on a third equally important component: time
- How one allocates his time determines the extent of his productivity
Bruce Lee
“If you always put limits on everything you do, physical or anything else, it will into work and into your life. There are no limits only plateaus; and you must not stay there. You must go beyond them.”
- Entrepreneurs are likewise constrained by feelings of inadequacy, namely, fears of being overwhelmed by larger corporations or lack of skill or competencies in several areas of business.
- As entrepreneurs, we have to condition ourselves to move past our Glass Ceiling through improved knowledge, increasing our personal bandwidth, experience, and accepting our strengths and weaknesses. We need to face our own fears and overcome these self-limiting beliefs.
Courage is the ability to act in the presence of fear
The world has changed since the end of the Cold War
- Barriers were torn down, regimes dismantled, and technology allowed businesses to discover horizons that have never been explored for the purpose of commerce
- This is the New Economy
- When faced with turbulence, you should not run away from it
- Run to it at full speed
“Be like water my friend!”
Bruce Lee believed that martial arts should not have too many rules, forms, and structures because these constrict and limit one’s ability to react accordingly in combat
- In business, given the reality of VUCA, entrepreneurs should acknowledge that the “Perfect Plan” no longer exists
- Businesses and entrepreneurs should shift their focus away from strategy and toward implementation
- Despite the advances in technology, the catalyst for change cannot be found in tools and processes but in people
