Despite difficult challenges, entrepreneurs are “the engines of growth” that are transforming the American economy. According to the Small Business Administration, entrepreneurs start more than 600,000 businesses in american every year.
How important are small businesses to the U.S. current economic conditions?
Let me share with you some of the latest information (September, 2009) published by the U.S. Small Business Administration’s Office of Advocacy. Small businesses.
Represent 99.7% of all employer firms.
Employ more than half of all private sector employees.
Pay 44% of total U.S. private payroll.
Generate 64% (net) of the latest jobs during the past 25 years.
Create extra than 50% belonging to the nonfarm private gross domestic product (GDP).
Hire 40% of telecom workers, such as scientists, engineers, and developers.
Are 52% home-based and 2 percent franchises.
Produce 13 times more patents per employee than large patenting firms.
Since companies have this important impact on the business cycle, what drives entrepreneurs to create something, via nothing? For the matter, what is an entrepreneur, and what makes him or her mark? Consider Sam Walton, just one of the greatest entrepreneur’s of the twentieth century who once said, “I have been been driven to buck the system, to innovate, and to look at things beyond a place where they’ve been.”
What can be an entrepreneur?
The French word, entrepreneur, means an enterpriser. An enterpriser is person who undertakes an organization or business, with chance of profit or elimination. An entrepreneur is an individual who uses venture capital to start and finance a new enterprise, and who assumes the financial risks connected with owning, operating, and operating enterprise.
Entrepreneurs are available as many varieties and possess a develop innovations and create jobs. As being a result, based upon the SBA, they are vital to a well balanced and robust American financial system. While many consider entrepreneurs to be visionaries, dreamers, and john spencer ellis book list charismatic leaders, not all entrepreneurs share these features.
Most entrepreneurs are those who march due to their own drums, and that the drive, determination, and perseverance to bring ideas and opportunities to life. Entrepreneurs usually possess a clear, communicable vision, an enthusiasm for their areas of interest, the motivation to take their vision to market, and the perseverance to keep in spite of obstacles and drawbacks.
The entrepreneurs are, with doubt, horses of a different breed. Entrepreneurs are mavericks with vision and determination to develop a company that can take the vision to field.
Entrepreneurs, as a group, in order to architect and control incredibly own destinies. These people inspired to file for their own company ventures and are driven in order to identify and exploit high-potential, businesses. They are typically obsessed with aspects regarding chosen specialty. Entrepreneurs a great itch make a new life, be their own boss, follow their own path, and shed the restrictions of the 9-to-5 work world.
Entrepreneurs get over it ideas-ideas which usually often generated by a flash of inspiration and that are frequently overlooked by others. Entrepreneurs are qualified for change directions quickly as conditions develop. They can navigate transitions, tolerate uncertainty, and can balance continuity with switch. Most importantly, they are tenacious! They follow projects to completion and don’t give up easily, even the toughest of times.