Entrepreneurs: Leading the Way Out

Entrepreneurs Lead by Greg Pesci –
Entrepreneurs, free to pursue their economic dreams, built America! They are, and always have been, its creators of jobs, growth, and wealth.

In 1831, Alexis de Tocqueville wrote in Democracy in America:“It may be said that, in the United States, there is no limit to the inventiveness of man to discover the ways of increasing wealth and to satisfy the public’s needs.” He continued, “the primary reason for [America’s] rapid progress, their strength and greatness is their bold approach to industrial undertakings.” What impressed De Tocqueville most about business in America was “not so much the marvelous grandeur of some undertaking as the innumerable multitude of small ones.”

Data from the Census Bureau (Business Dynamics Statistics) demonstrate that since 1977 American entrepreneurs in firms less than five years old have been responsible for literally all the net job creation in this country. For more than 30 years, new companies have led job creation in America. Recently, Carl J. Schramm of the Kauffman Foundation stated, “new and young companies and the entrepreneurs that create them are the engines of job creation and eventual recovery.” With 9.8 percent unemployment, if we want to create jobs in America we need to free up entrepreneurs and not burden them with increased taxes or regulation. [Read more…]

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Just Manic Enough: Seeking Perfect Entrepreneurs

9/18/2010 – David Segal –
Imagine you are a venture capitalist. One day a man comes to you and says, “I want to build the game layer on top of the world.”

You don’t know what “the game layer” is, let alone whether it should be built atop the world. But he has a passionate speech about a business plan, conceived when he was a college freshman, that he says will change the planet — making it more entertaining, more engaging, and giving humans a new way to interact with businesses and one another. [Read more…]

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Entrepreneurship Helps Make America Great

6/30/2010 – John Stossel –
For all its problems, America is a great place. And one thing that makes America great is its prosperity. Yes, some people have suffered during the recession — but compared to all the other countries in the history of the world, America is rich. Why?

One reason is that America is a good place to do business. [Read more…]

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The 20 Most Important Questions In Business

6/17/2010 – Christopher Steiner and Brett Nelson –
Entrepreneurs can’t completely inoculate their businesses from the vagaries of the market. What they can do is wrestle with the fundamental questions that govern the fate of any enterprise. We’ve done our best to compile the 20 most important ones.

Digging for those answers is a grueling exercise–one that takes serious intellectual and emotional honesty. With any hope, the process begins long before money’s been spent, products are built and customers are lost. [Read more…]

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The Power Of Personal Passion

5/26/2010 – Eileen Gittins –
How entrepreneurs can turn what they love doing into successful businesses.

Most people think about their jobs as the thing they do, instead of the thing they get to do. When you can build a culture where people feel privileged instead of entitled, that’s magic. And that’s what the best Silicon Valley companies do: They tap into the power of personal passion. [Read more…]

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Message to an Entrepreneur: You’re a Chump

4/28/2010 – Mike Whalen – Washington Times –
Major policy changes can have long-term cultural implications. Major changes can impact behavior almost immediately, but the real cultural implications are a result of the often subtle changes in individual attitudes. With the Obama administration, I believe we will see such cultural changes.

I am an entrepreneur. I started with a little 100-seat restaurant almost 32 years ago. My wife and I, along with many good people, built our company the old-fashioned American way. We worked night and day, lived very frugally for a long time, put almost everything back into the company, borrowed more and more money backed by personal guarantees, hired more people and built more buildings. [Read more…]

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Can Entrepreneurship Be Taught To Big Business?

Forbes.com | by Matt Symonds | 4/23/2010
Entrepreneurship has become big business. Nearly two-thirds of all the colleges and universities in the U.S. offer formal courses in it, 10 times as many as in the 1970s, when only 200 institutions had the temerity to think they could teach such a thing. Now business schools are realizing that even if not everyone wants to be their own boss, people do want to know the secrets of successful entrepreneurship. So they are looking at a new set of potential students–“corporate entrepreneurs.”[Read more…]

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Lessons From a Blue-Collar Millionaire

Inc.com | by Bo Burlingham | 2/1/2010
When Nick Sarillo launched his pizza business, he had one goal in mind: to create a corporate culture unlike any he had seen.

It’s Takeout Tuesday at Nick’s Pizza & Pub, and the air is thick with the smells of hot pizza crust, peppers, onions, and cheese. Eighteen young men and women — most of them high school age — form an assembly line between a row of worktables and a long bank of pizza ovens. The kids laugh and shout, even as they focus intently on their tasks.

Nick Sarillo, 47, stands halfway down the assembly line, holding a giant wooden pizza board. As the company’s founder and CEO, he doesn’t usually work the pizza line anymore. [Read more…]

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Why B-Schools Set Up Entrepreneurs To Fail

Forbes.com | by Sramana Mitra | 2/26/2009
Business schools need to focus on bootstrapping, not only raising money from VCs.

I know I am entering highly contentious territory. Academia generally looks down upon entrepreneurs even as they teach entrepreneurship in business schools and other university programs around the world.

Meanwhile, I have come to observe that most business school programs have an extensive emphasis on fundraising, especially from venture capitalists, and very little pragmatic understanding of what it really takes to get a venture off the ground. As a result, business schools launch students into the real world with completely unrealistic expectations, set up to fail. [Read more…]

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The Way I Work: Kathy Ireland

Inc.com | As told to Liz Welch | 12/1/2009

Former supermodel Kathy Ireland founded a little company to make products for “busy moms” like herself. Now, with revenue of $1.4 billion, she’s busier than ever.

When she was in her 20s and a model, Kathy Ireland says, her job description was “Shut up and pose.” So it irks her when anyone suggests that the 46-year-old CEO and chief designer of Kathy Ireland Worldwide is merely the face of her $1.4 billion business. Ireland, who launched the Los Angeles–based company in 1993 and is the majority shareholder, began by creating a line of socks and parlayed that into a large licensing deal with Kmart that lasted until 2003. Now she puts her stamp on more than 15,000 products — including scented candles, dining room sets, porcelain dishes, wood flooring, skin care products, and swimsuits. [Read more…]

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Five Attributes Of Enduring Family Businesses

Five Attributes Of Enduring Family Businessesby C. Caspar, A. Dias, H. Elstrodt
The keys to long-term success are professional management and keeping the family committed to and capable of carrying on as the owner. Family businesses are an often overlooked form of ownership. Yet they are all around us–from neighborhood mom-and-pop stores and the millions of small and midsize companies that underpin many economies to household names such as BMW, Samsung and Wal-Mart Stores.

One-third of all companies in the S&P 500 index and 40% of the 250 largest companies in France and Germany are defined as family businesses, meaning that a family owns a significant share and can influence important decisions, particularly the election of the chairman and CEO. [Read more…]

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Entrepreneurs Go on Strike

American Thinker | by C. Edmund Wright | Nov. 20, 2009

Can Barney Frank dunk on Lebron? No, he cannot. Nor can anyone else in Washington. Nor can they catch passes from Ben Rothlisberger in the Super Bowl or strike out Derek Jeter in the World Series. They are not equipped to do so. So what?

This ridiculous image speaks to the business malaise infecting the economy since Obama took office. The point is that politicians are equally ill-equipped to run the auto industry or the health industry or the lending industry or the insurance industry — and their determination to do so is sucking all the dynamism from the entrepreneurial class in this country. [Read more…]

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