Lincoln had lots of advice relevant to entrepreneurs of today

By Rhonda Abrams
Gannett News Service

Here's a trivia question: Who's the only U.S. president to receive a patent?

No, not Thomas Jefferson. Abraham Lincoln.

This month, we observe Presidents Day — combining Lincoln's birthday, Feb. 12, with George Washington's, Feb. 22. Good old honest Abe had a lot in common with entrepreneurs today:

• He was self-made. He worked his way up from poverty, with less than one year of formal education.

• He was a retailer. He owned a small store, which quickly went out of business.

• He was an inventor. He received patent No. 6469 in 1849 for a device to lift riverboats over sandbars. It was never produced.

• He ran a law practice. He had to deal with his partner, clients, competitors and billings.

• He failed over and over again. In his first race for elected office, he came in eighth (out of 13) and failed repeatedly to get elected to the Senate.

So, those of us in business can look to Lincoln for guidance:

Attitude

• "Always bear in mind that your own resolution to succeed is more important than any other one thing."

• "People are about as happy as they make up their minds to be."

Sales

• "We must not promise what we ought not, lest we be called on to perform what we cannot."

Time management

• "Leave nothing for tomorrow which can be done today. Never let your correspondence fall behind. Whatever piece of business you have in hand, before stopping, do all the labor pertaining to it which can then be done."

• "You cannot escape the responsibility of tomorrow by evading it today."

Integrity

• "If in your own judgment you cannot be an honest lawyer, resolve to be honest without being a lawyer."

• "I desire to so conduct the affairs of this administration that if at the end ... I have lost every other friend on earth, I shall at least have one friend left, and that friend shall be down inside of me."

Planning

• "I will prepare, and some day my chance will come."

• "If I only had an hour to chop down a tree, I would spend the first 45 minutes sharpening my axe."

Disputes

• "Discourage litigation. Persuade your neighbors to compromise whenever you can. Point out to them how the nominal winner is often a real loser — in fees, expenses, and waste of time."

Excellence

• "Man is not the only animal who labors; but he is the only one who improves his workmanship."

• "Whatever you are, be a good one."