As I interviewed the founders for How They Did It, one of the things that stood out for me about this group of people was that time and time again they chose to do the right thing. There were moments when they could have cut corners, but instead I found examples of acting with integrity. Phil Soran, co-founder of Compellent, talked about recalibrating his earliest investors’ equity interest when it became clear they would not get as good a deal as later investors. Phil didn’t have to give early investors anything else, but he knew it was the right thing to do.
In January, The New York Times ran a story on Major League Baseball pitcher Gil Meche and his recent decision to walk away from millions of dollars.
Meche’s contract with the Kansas City Royals guaranteed him a $12 million salary this year, regardless of whether he played or not. With a shoulder injury derailing his career, Meche made the decision to retire and forgo his entire $12 million pay day. “When I signed my contract, my main goal was to earn it…I was making a crazy amount of money for not even pitching. Honestly, I didn’t feel like I deserved it.”
In a world where sports figures are grossly overpaid and guaranteed contracts are the norm, Gil’s decision to do the right thing is inspiring, and well, just plain unreasonable. In a way it reminds me of the kind of mindset a successful entrepreneur needs to have to succeed – not in a small way – but to succeed big time.Leave a comment