“The Philosophy of Mutual Benefit” And Its Historical Role In Creating Enduring Value by Entrepreneurs

Andreas Widmer's "The Art of Principled Entrepreneurship" is an enlightening and inspiring guide that explores the philosophy and practice of principled entrepreneurship. Widmer, the founder and director of the Ciocca Center for Principled Entrepreneurship, brings his extensive experience as a Vatican Swiss Guard, early employee of Nuance Communications, and educator at The Catholic University of America to provide readers with a comprehensive understanding of this approach to entrepreneurship.

The book begins with a clear definition of principled entrepreneurship as continuously improving one's ability to create value for others within the framework of "the philosophy of mutual benefit." This philosophy aims to improve people's lives and attract, motivate, and empower individuals to become social-change entrepreneurs dedicated to advancing a society of mutual benefit. Widmer emphasizes that principled entrepreneurship is not limited to a specific stage of a company or job title, but rather an attitude that permeates all aspects of one's life.

One of the key strengths of the book is its exploration of the importance of entrepreneurship to the American economy and job creation. Widmer highlights that small and medium-sized enterprises (SMEs) make up 99.7% of the total number of businesses in the United States and are responsible for 44% of the GDP. Moreover, SMEs file 16 times more patents per year than large firms, underscoring their significant contribution to innovation and economic growth. Widmer effectively argues that the American dream is intrinsically tied to entrepreneurship, making it a vital aspect of society.

Widmer introduces the five pillars of principled entrepreneurship, which are deeply rooted in the self-evident truths outlined in the Declaration of Independence. These pillars include the belief that the economy exists for people, not the other way around, the understanding that work is a means of creating value and expressing human potential, the recognition that culture is a decisive factor in shaping behavior and outcomes, the commitment to creating win-win solutions, and the cultivation of an entrepreneurial mindset in all endeavors. Through real-life examples and insightful analysis, Widmer demonstrates how these pillars form a solid foundation for principled entrepreneurship.

The author also delves into the challenges of teaching entrepreneurship, particularly in business schools that often focus solely on teaching technical skills. Widmer acknowledges that entrepreneurship is an art that requires a unique combination of knowledge, skills, and attitude. While skills and knowledge can be taught, the right attitude, mindset, and entrepreneurial spirit must be fostered through experiential learning and personal development. He shares his own innovative approaches, such as the "lunch and learn" and "venture lab" programs, which aim to instill the principles of entrepreneurship in students and help them discover their own passions and purposes.

In addition to his extensive expertise, Widmer's biography adds credibility to his teachings. His experiences as a Vatican Swiss Guard for St. John Paul II and his involvement in the early stages of Nuance Communications, which is now valued at $18 billion, provide valuable insights and practical wisdom. Widmer's previous best-selling book, "The Pope & The CEO: John Paul II's Leadership Lessons to a Young Swiss Guard," further attests to his ability to draw lessons from his unique experiences and apply them to entrepreneurship.

"The Art of Principled Entrepreneurship" is a thought-provoking and empowering book that offers a fresh perspective on entrepreneurship. Andreas Widmer's expertise, combined with his engaging storytelling style, makes this book an invaluable resource for aspiring entrepreneurs and educators alike. By emphasizing the importance of principled entrepreneurship and offering practical guidance on how to cultivate an entrepreneurial mindset, Widmer inspires readers to create value, make a positive impact, and ultimately contribute to a society of mutual benefit.

You can listen to my exclusive interview of Andreas Widmer on THE MENTORS RADIO by going to THE MENTORS RADIO DOT COM, then to list of shows and searching for the keyword Widmer. This episode was broadcast worldwide on THE SALEM RADIO NETWORK, iHEARTRADIO, and TUNEIN RADIO and is now available on all popular podcast platforms 24/7.