For nearly 27 years as an entrepreneur, I enjoyed dominating markets locally, regionally, statewide, and eventually nationally. No, it was never easy, and I can remember months on end spending 17 hours a day with no days off. Sometimes that’s what it takes to keep up with the bureaucracy, stay ahead of the competition, and grow your company. Today, we hear a lot about the need for America to step up our pace and innovation. I agree with that, and as a coordinator for a think tank which happens to operate online, I am definitely in the game.
Nevertheless, we have a somewhat schizophrenic policy when it comes to innovation and entrepreneurship in the United States. On one hand we say we want more jobs, more innovation, and we know we need more entrepreneurship, and yet, on the other hand, all we seem to do is over regulate, give special favors to certain corporations, and set up barriers to entry for small businesses to grow. If we truly want to innovate, then we need to hold short when it comes time to regulate.
No, I’m not suggesting that we get rid of all regulations, nothing of the sort. What I’m saying is we have too much duplication, too much bureaucracy, and too many agencies running around telling entrepreneurs and businesspeople, which provide jobs and the catalyst for innovation, what to do. Entrepreneurs instinctively know what to do – they don’t need a government telling them. They will Innovate, and rise to any occasion, conquer any challenge, and jump over any hurdle put in their way to provide goods and services to clients, customers, and our citizens. There is nothing we can do. I know this for a fact, because I’ve been doing it all my life.
There was a great paper put out by The Council on Competitiveness titled; “Innovate America – Task Force on American Innovation” in 2005 (ISBN 1-889866-20-2) and the only reason I found it was I created an eBook with a similar title, but in this paper the editors and authors put forth the dubious question; ” Why is innovation critical to competitiveness?” Now then, most of us in the free-market know why, but “all be darned” if the politicians, academic utopia builders, or general public does. Okay so, let me get into the heart of my argument here today.
Einstein had a famous quote about war and military, he stated that; “You cannot simultaneously prepare for and prevent war,” which perhaps was a comment while watching the NAZI Regime rise to power. Unfortunately, he was right as history shows us our 20/20 hindsight. With that same quote, I’d like to reverse it and put it into the context of; Innovation, and prepare a quote of my own this time, namely;
“You Cannot Over Regulate and Simultaneously Out Innovate!” – Lance 2011.