Phil Castle, The Business Times

T.K. Coleman tells a story about a bank employee with a magic penny that enables him to read minds.

The man discovers another employee who feels unappreciated for his long service plans to rob the bank. What should he do? Who’ll believe his account or, for that matter, his newfound abilities?

The situation isn’t so far-fetched, Coleman said, given the skepticism that greets innovations that seem just as implausible. “This is how people react to great ideas.”

That means business leaders must not only persevere in the face of ridicule, but also respond to doubt and fear as learning opportunities and appeal to people’s self interest, he said during a conference in Grand Junction for high school students.

Coleman is co-founder and educational director of Praxis, an alternative educational program that combines a six-month professional development bootcamp with six-month paid internships with startup companies. He also serves as director of entrepreneurial education with the Foundation for Economic Education.

Coleman delivered the keynote presentation at the Western Slope Economic Leadership Conference, an  event hosted by the Freedom & Responsibility Education Enterprise (FREE) Foundation. The foundation provides resources to students and teachers in Western Colorado to promote the understanding of economics, financial literacy and free enterprise.

The business leaders who developed automobiles had to prove the superiority of their products at a time when there were fewer roads, no gasoline stations and consumers preferred faster horses, Coleman said.

Sylvan Goldman, the owner of a grocery store chain, similarly had to overcome skepticism when he invented a cart to enable customers to purchase more food than they could carry in their arms or baskets. Customers were reluctant to use the carts, however. Rather than becoming defensive, Goldman talked to customers. Women who spent time pushing baby carriages didn’t want to push another cart in stores. Men considered using the carts too effeminate.

Goldman hired models to push carts around his stores, and the tactic worked. His shopping carts and stores because popular and successful, Coleman said.

When people question the merits of an idea, ask them why and engage them in the process, Coleman said. “Curiosity is so disarming.”

Coleman said leaders in business and other fields are usually ordinary people who use the skills and resources they have at hand to solve problems. “We all have something to work with.”

One way to solve problems, he said, is to state them as questions. Another way is to seek help — whether that’s from teachers, mentors or professionals.

To solve a problem, achieve a goal or reach some sort of destination, it’s essential to know the starting point. That requires an honest and precise assessment, Coleman said. “You can’t know how to get there if you don’t know where you’re at.”

It’s helpful, too, to avoid starting the day in what Coleman called a “frenzy state” and a reactive rather than proactive approach. He said he gets up early to read, meditate and walk before he goes to work. “You have to take that time for you.”

Ultimately, leadership in business and other fields isn’t about exercising power, Coleman said. It’s about leading through understanding and appealing to people and their interests.

Success and wealth is a reward for solving problems, he said, whether that’s alleviating suffering or adding value to peoples lives.