Years ago, I read a book that changed my view of business (especially small businesses) and capitalism. “The Great Game of Business” tells the story of how Springfield ReManufacturing Corp. (SRC), a company on the verge of bankruptcy, righted its fortunes and became a highly profitable venture with a workforce that went from moribund to engaged. Written by CEO Jack Stack and Bo Burlingham, the book redefined business management, which is now known as open-book management. Stack and his partners at SRC taught their employees the financials of the business and brought them into the company’s success. Instead of just the owners getting to play in the business venture, all the employees got in the game.
In the small business world, entrepreneurs can change communities
For me, one of the most surprising realizations from reading the book was coming to better understand the power of entrepreneurialism. People who start businesses, who take the risk to try a new venture, have the ability to change not only their own lives but the lives of their families, their employees, their employees’ families and the people in the community.
For more than 40 years, the people associated with those magazines and the industry as a whole have been involved in the great game of business because of Lawrence’s vision and willingness to take a risk.
In the metal construction industry, our community was forever changed by the entrepreneurial spirit of John S. Lawrence, the co-founder of Modern Trade Communications. Lawrence died last week (see the remembrance on page 6), but the media he created—Metal Construction News, Metal Architecture and The Metal Directory—live on.
For more than 40 years, the people associated with those magazines and the industry as a whole have been involved in the great game of business because of Lawrence’s vision and willingness to take a risk.
I don’t think it’s an overstatement to say that in large part because of him, the metal construction industry was born. Certainly, parts of it existed. The Metal Building Manufacturers Association had been around for decades, and there were elements of the metal component industry that had coalesced, but through Lawrence and his partner Sam Milnark, the industry developed a new, specific identity. All the players—manufacturers, suppliers, architects, contractors, consultants—understood that they were part of a cohesive whole that was defined within the pages of the magazine.
I have always admired entrepreneurs and valued the risk they have accepted. Of course, there are people out there who take that risk and keep all the benefits to themselves. That’s a shortsighted approach that dismisses the value of the people around them. But true entrepreneurs such as Lawrence create communities and expand the value of those within the community.
For that, they are to be admired. And John S. Lawrence earned the industry’s admiration.
