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It’s All About Jobs, Part 2

October 22nd, 2018 // Tom Doescher // 0 Comments
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Tom Doescher - Doescher Advisors

In my last blog, I discussed the commitment Barbara and I have to helping business owners create good jobs. I mentioned Defending The Free Market: The Moral Case for a Free Economy, written by Rev. Robert Sirico, a Catholic priest and co-founder and president of The Acton Institute. Fr. Robert comments on many topics, but here are some takeaways specifically related to jobs:

  1. The expression “to make money” is a very good description of the process in a free market. It all begins because people are making things or creating things (it may be a product or a service). Before the taking comes the making.
  2. An increasing number of experts from the developing world have come to recognize the pitfalls of government-to-government aid. (Editorial comment: Barbara and I have observed this firsthand in many countries.)
  3. The countries that have found ways of unleashing creativity through economic freedom have lifted millions out of poverty.
  4. Capitalism is fueled by human creativity in a system that rewards people for serving the wants and needs of others.
  5. In summary, the identification of greed with business profits and generosity with not-for-profits is too simplistic. As tempting as it may be, we cannot demonize profit and canonize poverty. (Editorial comment: Fr. Robert does a wonderful job of making this point. I can add that, for years, I’ve observed business owners do many wonderful acts of kindness for their associates and for the poor in their communities. I will continue this series and share some of my favorites.)
  6. The entrepreneur in a free market, far more than the government bureaucrat or central planner under socialism, must submit himself to the wants and needs of the consumer if he is to profit.
  7. What tends to make people happier is earned success — in other words, the feeling of accomplishment that comes with a job well done, a job that others find valuable.

Fr. Robert provided many references to credible research studies and wonderfully explained many different dynamics of a “free market” approach versus the alternative.

For those interested in learning more about this subject, I would recommend reading Fr. Robert’s book as well as a number of the books he references, such as The Road to Serfdom by Friedrich A. Hayek.

It’s All About Jobs, Part 1

October 8th, 2018 // Tom Doescher //
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Tom Doescher - Doescher Advisors

I love working with owner-operated businesses competing in the free market. They develop an idea for a new product or service and then take it to the market, where it’s either accepted (like the iPhone) or rejected (like the Ford Edsel). Recently I finished reading Defending The Free Market: The Moral Case for a Free Economy, by Rev. Robert Sirico. Fr. Robert is a Catholic priest, and he’s also the co-founder and president of The Acton Institute.

Before I lose you, bear with me.

From 1998 until 2012, Barbara, my partner, and I led more than 30 humanitarian mission teams all over the world. We visited the continents of Africa, Asia, Central America, Oceania, and South America. Our teams provided medical services, worked on construction projects, offered an educational program, and conducted a children’s ministry and marriage enrichment classes. As we looked forward to what we now refer to as our “Last Life Marathon,” we decided we were going to invest our time in a combination of work and mission. If you check out our website, you’ll find our Mission Statement:  “Doescher Advisors was founded to help businesses increase profits and jobs through practical and sound advice.”

As our economy changes due to innovations, the industrial jobs that once provided wonderful standards of living for so many hourly workers for almost a century no longer exist. Barbara and I are committed to assisting business owners find success so they can provide good jobs to these workers.

To make this point really clear, let me tell you a story. We had a client who found himself in the middle of the perfect storm. As we assessed the situation, we believed we could help “right the ship,” so to speak, but we also realized the client was in no position to compensate us for our extra assistance. We decided to help, anyway. I went to the business owner and said, “I think we can help you through this situation. I understand you won’t be able to pay us now, but we’ll keep track of our time and you can decide what you want to do when we get through it.” You can imagine the gratefulness of the client. I acknowledged his comments, but then I pointed out toward his shop floor and said, “I’m doing this for those 40 families. I cannot effectively help them, but I can help you. And if we’re successful, everyone wins.”

In my next blog, I’ll provide some of my takeaways from Fr. Robert’s book.

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Tom DoescherYou’ll find stories from the trenches, business lessons, and pertinent questions to help you find inspiration, professional growth, and leadership savvy.

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