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Entrepreneurs Archive
9 Common Myths About Entrepreneurs
There is something about entrepreneurial success stories that makes people uncomfortable. After all, the very notion of working for oneself flies in the face of convention. An example of someone who not only tried an entrepreneurial gig but thrived in it seems to demand explanation.
The question seems to be “How did such an unnatural event occur?” In response, a great number of social and cultural myths have formed around the idea of what it “really” takes to be an entrepreneur. Below are some of the most prevailing myths.
“It Takes Money to Make Money”
This is perhaps the oldest entrepreneur’s myth of all. The first thing out of a naysayer’s mouth when confronted with a successful entrepreneur is “he must have had an inheritance/been rich/etc.” In fact, the world is full of self-made men and women who did not start out with any great deal of money. Read more »
What Can The Boy Scouts Teach You About Being an Entrepreneur?
In 1997, the Boy Scouts of America quietly launched their Entrepreneurship merit badge. Sadly, despite the Boy Scouts’ best intentions, the badge did not receive much in the way of consistent support. But on April 29, the Entrepreneurship badge was reintroduced with a much stronger commitment. As Maria Popova of the Huffington Post writes, the badge’s return symbolizes “the increasing value of entrepreneurial thinking as a social problem-solver and a necessary lifeskill in the pursuit of success today.” The badge aims to promote execution, critical evaluation of business ideas and the fundamentals of capitalizing on market opportunities.
Below, we’ll take a look at the Boy Scouts Entrepreneurship badge requirements, and what they can teach you about being an entrepreneur.
Define Entrepreneurship Realistically
One striking feature of the Boy Scouts Entrepreneurship badge is how it begins by asking you to define entrepreneurship, as well as the entrepreneur’s role in the U.S. economy. Yet, a glance at the requirements page shows that it is not sufficient to merely theorize on what entrepreneurship is. To earn the badge, you must find and interview a real-life business owner and ask them:
- How they came up with their business idea
- How they raised startup capital
- How well the business is doing today
Women In Tech: Up & Coming Female Entrepreneurs
The shortage of female entrepreneurs and executives has long been lamented by business and academic leaders. As Harvard researcher Vivek Wadhwa told BusinessWeek in February 2010, there has never been a female Wall Street CEO. According to Dun & Bradstreet data from 2004 (the most recent available), only 19% of the 237,843 firms founded that year were primarily owned by women – including only 3% of tech firms.
Ultimately, Wadhwa contends, the relative lack of female tech entrepreneurs reflects a “societal failure.” But others, like Illuminate Ventures CEO Cindy Padnos, hold that female-led tech firms earn higher revenues using less capital. Today, Grasshopper examines several female entrepreneurs who will, as Padnos predicts, “lead the next wave of growth in global technology ventures.”
Caterina Fake
Caterina Fake is best known for co-founding online photo sharing giant Flickr in 2004. Fake started the company with the help of then-husband Stewart Butterfield and the free service rose to popularity in a breathtakingly short time. By March 2005, Flickr was acquired by Yahoo! for a reported $35 million price tag.
Flickr made important contributions to the “Web 2.0″ revolution both before and after the acquisition, including social networking, photo tagging, community open APIs and photographic algorithms. Read more »
Is The Government Stimulus Plan Doing Anything For Entrepreneurs?
Every recession inspires government leaders to enact an economic stimulus plan. The assumption is that market downturns are intolerable and can only be cured by political intervention. Yet, it is unclear whether stimulus packages like President Barack Obama’s American Recovery and Reinvestment Act of 2009 stimulate anything other than government spending.
The way to know for sure is to determine what, if anything, such plans do for entrepreneurs. John T. Reed, a Harvard MBA, points out that what actually needs stimulating is business profits, which supply the money for defense, Social Security payments, employee salaries/wages, business taxes and ultimately, the stimulus itself.
What Was Stimulated
The question of whether the stimulus is working, therefore, is really a question of whether it helps entrepreneurs be more profitable. Some aspects of the stimulus do appear to help. Read more »
Great 8: Top Entrepreneur Forums on the Web
One of the great things about the entrepreneur community is the willingness and desire to share the trials and tribulations of starting and running a business. From blogs to forums to podcasts and books, there is a lot of really great knowledge out there. We have chosen eight of the best entrepreneur forums where you can ask questions, find info and share your own stories.
Entrepreneur.com – Industry Groups
Link: http://econnect.entrepreneur.com/browse_groups.php
What is it: Entrepreneur.com is a great forum that covers everything around entrepreneurship and business. The forums are even split up into industry-based groups ranging from construction professionals, to franchising, to sales and marketing to online business and young entrepreneurs.
Why you should read it: Entrepreneur.com has long been a trusted source for all kinds of entrepreneurs. Their forum allows people to connect with each other and share their experiences and knowledge. The starting a business section has nearly 1000 discussion topics!
10 Business Plan Competitions for Entrepreneurs
Have a great business idea but not sure what to do next? Luckily there are people all over the world who want to help you get your business off of the ground. We have listed 10 business plan competitions that can help you do just that. Get feedback and maybe even some funds to help you make your dream a reality.
Silicon Valley Boomer Business Plan Competition
Who is it for?
Anyone 18 years or older from around the globe with a business plan that shows the 45-plus market as the primary market for the product or service. Current annual revenues must be no more than $1 million.
How to enter?
Executive summary submissions are due via YouNoodle
Deadline: April 23, 2010
Link to competition: Silicon Valley Boomer Venture Summit – Business Plan Competition
Cisco I-Prize
Who is it for? Read more »
14 Twitter Feeds Startups/Founders Should Follow
We’ll admit it – the typical Twitter page is more likely to hinder startup success than it is to help. A Google search for “Twitter distraction” generates over 1.8 million results, including in-depth blog posts on how to prevent Twitter from breaking your focus. So we’ll understand if Twitter isn’t currently a big part of your work day. However, it would be unwise for startup founders to unplug completely from Twitter.
In fact, the Twitter accounts of other startups and founders are often treasure troves of relevant, applicable insight. After all, these are folks who have overcome the obstacles you are facing and achieved the goals you are striving for. Who better to learn from? The key to using Twitter productively, of course, is avoiding idle banter and following only those offering concrete, actionable advice. To that end, Grasshopper scoured Twitter for fourteen accounts that any startup founder would be well-served to follow.
Startup Digest
Startup Digest is an awesome service for getting plugged in with your local startup community. They also have a great Twitter list setup for you to follow to filter out some of the noise in your Twitter stream once in awhile and focus on valuable insights from leading tech blogs and entrepreneurs.
Get the Facts on Entrepreneurship in 2010 & Beyond
We have worked with TrendsSpotting to present a comprehensive review of entrepreneurs/entrepreneurship. Get facts about entrepreneurs: profiles, inspirations, home based statistics, incomes and revenues. We also explore the influence of the recession on new jobs, profits, and the establishment of new businesses.
Check it out and let us know your own thoughts for the future.
Hey Jay-Z, Meet the New Dork in ‘Entrepreneur State of Mind’
The official music video of entrepreneurs everywhere. Enjoy.
Download the MP3 (right click on link)
Entrepreneurship, It’s Personal
Nash Kabbara, co-founder of Motors On Wheels and ZipZoomAuto provides insight on building and sustaining a business.
About Me
When I was about 12 years old, mom would stop the car at the local bakery; I would jump out with a pocket full of change and buy a dozen pastries. It’s Sunday, family dinner day, and I knew what everyone’s favorite pastry was. I also
knew which uncles had the most money and which ones did not. As everyone was finishing up their dinners, I set up a table and marked each pastry with a price. Needless to say, the uncles who drove BMW’s had the highest markup!
I’ve always wanted to make a billion dollars by creating something that makes people better at what they do. At my last job I thought I was doing just that, but I was wrong. I cut my losses and quit with about $10,000 in the bank.
Sustainability
Ten thousand dollars might look like it has enough zeroes in it, but it doesn’t go very far. I needed a way to stay afloat while I waited for the billion dollar idea to come to me.
A friend of mine was in the car business. He suggested I buy a car from him at wholesale and resell it myself. I did. I made $1,300 in about 5 hours of actual work!
