Taking a closer look into companies with strong LDS roots, PandoDaily reporter Hamish McKenzie wrote a feature exploring how LDS heritage and teachings transfer into how Mormons do business.
“Reporting from Provo this week, I have spent a great deal of time trying to figure out why Mormons are so exceptionally entrepreneurial,” McKenzie wrote in his article. “It’s a phenomenon that can be traced back to those pioneers.”
McKenzie’s article explored how both Mormon traditions and practices contribute to the LDS Church members’ businesses. He mentioned work ethic, self-reliance, giving back to the church and missionary service as factors that translate into successful Mormon entrepreneurs.
“The mission experience, in whole, teaches the importance of hard work and dedication in the face of adversity, but it also dovetails neatly with Mormon doctrinal beliefs about the necessity of self-reliance,” McKenzie said.
McKenzie shared examples of how Mormon entrepreneurs’ missions helped shape their businesses today.
“I left a company to go on a mission, and I feel like that was the best decision I ever made just because I really learned how to work without seeing any immediate results and just do something that you believe in," said Austen Allred, co-founder of the soon-to-launch startup Grasswire, in an interview with the Deseret News.
The article acknowledged specific companies with Mormon founders and noted that many of these entrepreneurs believe their standards and practices help their companies.
“I will say that in every business opportunity there’s a gray area or a chance to do something ethically sketchy to get ahead, and not doing those things helps you really find true opportunities,” Allred said.Comment on this story
But curiosity regarding Mormons in business is nothing new. In the past year, other news sources have written about the topic, including Newsweek, Bloomberg Businessweek and the Financial Times of London.
Although McKenzie includes some criticism of the church in his article, his overall attitude toward it is positive. Read McKenzie’s entire article on PandoDaily.