Different Values

The term “entrepreneur” is derived from the French language and means “one who undertakes (some task).” Entrepreneurship is indeed an enormous undertaking. Many of the qualities that make people great employees do not translate well into entrepreneurship, and vice versa. Both employees and entrepreneurs want the same thing: financial stability. But employees and entrepreneurs have completely different values, and therefore, take different approaches to achieving financial stability. Identifying which group to align with is one of the very first tasks to accomplish.

Views on Failure

Many of us were raised to try and avoid mistakes, as their consequences can be dire and difficult to rebound from. As a result, many people fear failure, are risk averse, and will hesitate, or even neglect, to take necessary courses of action in their businesses. An entrepreneur understands that it is impossible to avoid risk, and failure is sometimes a reality of doing business, but is never finite. Entrepreneurs consider failure, but only as part of determining the most direct route towards an outcome, and should never be feared or avoided.

Delegation

Most employees buy into the idea that each person should be judged and rewarded for their individual efforts. Consequently, many employees spend their time specializing in particular fields where they can be lauded as “the best” in that area. Entrepreneurs believe in cooperation as a means of getting more done with less resources, and they leverage the individual talents of many towards a common goal.

Security versus Freedom

Many people that go into entrepreneurship do so as a means to seek the security they feel is lacking at their jobs. The problem with this mentality is that many business ventures require time, and sometimes major adjustments, before turning a profit, making security extremely illusive. An entrepreneur goes into a venture to express a level of freedom that cannot be achieved as an employee. Many entrepreneurs sacrifice their own personal security for the sake of creating a stable enterprise, refraining from taking money out of the business in the initial stages, which sometimes lasts for months, or even a few years.

Innovation

Many people do better as employees because they prefer to be supervised. Employees prefer to leave the actual strategy and much of the big picture planning to the executives and supervisors. On the other hand, entrepreneurs look for opportunities to improve old systems or create new ones. They are self motivated and require very little supervision.

Evaluating Opportunities

Employees tend to judge opportunities based primarily on cost in dollars and cents. Employees prefer to trade their time for the predictability of a steady paycheck. Entrepreneurs evaluate opportunities based on value. Entrepreneurs often leverage money to save time and other resources, or they trade their time for the prospect of learning a needed skill or building a business relationship.

Responsibility

Employees prefer to take responsibility for their own work or projects they are directly in charge of. Many employees do not feel directly responsible for the success or well-being of the company they work for as a whole. Entrepreneurs prefer that the company’s success begin and end with them. They take responsibility for everything that happens, whether or not their direct actions are involved.

In closing, there is no right or wrong way to travel the road to financial stability. There are both pros and cons to each approach. Making an honest assessment of yourself and your inclination towards one method or the other will save you a great deal of time, effort, frustration and expense. But as usual, don’t just take my word for it…take it for checking!

The transition to entrepreneurship is easy with a mentor. Kafi Tamu Burris (aka The ORIGINAL Rat Race Refugee) has been a full-time entrepreneur since 2005 and is an expert at teaching internet marketing domination techniques. Click here to access FREE internet marketing strategies.

Article’s Original Source.

Article Source: http://EzineArticles.com/?expert=Kafi_Tamu_Burris

This book is for those individuals contemplating owning or starting a business. Information contained in Red Pill Entrepreneurship is not meant to cast a shadow of pessimism on entrepreneurship. I love and have loved being an entrepreneur, but entrepreneurship is not for everyone. Over the years, I have felt a need to expose the reality of business to those who are wasting away their lives dreaming of having that “little shop” on the side of the road that they think will make them rich. Not to say that it is impossible to become rich from a new business, but it is definitely requires taking a second look. My hope is that you can eagerly join me in recounting a stream of funny stories and broken dreams of multiple entrepreneurs. Understand these stories not as bitter rants of failure, but as grand learning experiences. Learning from such turbulent experiences will facilitate your building of a bigger and brighter future for yourself. In short, setting foot on the right track now will allow you to finally live your dreams, or to change your dreams before it is too late. Be prepared before the hand of reality smacks you senseless.

Your Dream

To begin, I want you to participate in a visualization exercise. Vividly think about your dream to buy, start or join a business (in reality, this exercise can be done for any dream). Close your eyes now and imagine that dream in detail. In essence, dream your dream. To help you get started extracting detail from your dream, start imagining the individual components. What is the main goal of your business? What is the product or service you are selling? Does the image in your mind consist of a large office with modern furnishings, secretaries and assistants, and maybe a large boardroom with suit-clad business people negotiating a million dollar contract? Or, does your visualization include a restaurant, retail store, etc.? Each of your dreams should be highly detailed and include imaginations similar to my colleague Tim’s.

Tim was a restaurant entrepreneur who imagined walking through the door of his eclectic restaurant with waiting customers filing out into the parking lot. He imagined smiling at polite employees churning out thousands of dollars worth of food and pouring over a front-page newspaper feature that entailed his restaurant’s success in the local newspaper. Perhaps you are not visualizing so much the details of the business, but what you stand to gain from the future business. For example, does your dream include buying whatever you want and having a comfortable life? Some dream of having the prestige of talking about their business with friends and acquaintances. Others find motivation in proving their success to naysayers who have opposed or have been cynical about their business aspirations. Regardless of your dream, the act of dreaming is healthy. Dreams allow us to achieve greater things. As in all facets related to success, dreams need direction and some logic. So, let us develop a map for your dream using the information provided within Red Pill Entrepreneurship and establish some logic, if any.

Dream Or Medium To The Dream

In order to establish a direction for your dream, ask yourself the following question. “Is having a business your dream or is having the benefits that are commonly linked to business ownership your dream?” The idealistic benefits generally associated with business ownership for the average person consist of more money, more free time, more freedom, etc. than one would presumably have while working for someone else. Why is this distinction between your dreams focused on the benefits of the business or the business itself important? The answer to this question will determine your levels of satisfaction and success associated with owning a business. A true entrepreneur is one that loves his business and accepts the benefits and consequences. Many of us just want the benefits. If you are still unsure of your answer (benefits vs. love of the business), hopefully you will find your answer through Red Pill Entrepreneurship. If you are sure of your answer, hopefully Red Pill Entrepreneurship can still give you more information to increase your chance of success.

While dreaming, it is common to overlook present opportunities. Rather than improving current situations, dreaming entrepreneurs often look for change. Hence, this benefit vs. business distinction is especially important to those (want-to-be-business-owners) who are looking forward to just the benefits of a business. Change can be beneficial while trying to increase energy and passion, but you must be careful while initiating change. Oscillating from opportunity to opportunity can be detrimental. Each time one initiates change, there is a loss of focus and a need to start over. Carefully consider whether a business is the way or a way to achieve your dreams. If not, assess what improvements and changes within your current scope or situation may be a more feasible approach before setting out to turn your life upside down. Do not be afraid to change the medium of your dream! Life is too short to jump around from failure to failure.

The Scope of Red Pill
Assuming that you have decided on owning a business, the experiences and advice contained within this book will be invaluable. Red Pill Entrepreneurship gives an interesting perspective on some areas of business organizations commonly overlooked (consciously or subconsciously). Some may find that they have been focusing too much on the dream of having a business and that all they really want is more money and more freedom. These people will read some of the points within Red Pill and rethink their timing, preparation, and motivation behind owing a business. While others may find that owning a business really does suit them well.

The chapters of this book begin by assessing the motivations of having a business and follow through with key components of business ownership. Application of the information provided could determine the shaping of the rest of your business career.

In an attempt to fully analyze the reality of your business dreams, write down, in as much detail as possible, your dream, as previously tasked to envision, in the space below.

In general, if your dream can be achieved in a day, week, or month then you need to rethink your dream. Small, easily achievable goals are only practical if they aim toward a larger, long-term accomplishment. Throughout this book, this larger goal will be assessed. It has been said that you should shoot for the stars and you will capture the moon.

Hard Fact: Just because a certain dream enters your mind, there is not anything that says that you should strive to attain it. For example, I once thought I could sing, but it does not mean that I should or could become a rock star. Fame of being a rock star may have been appealing, but singing is definitely not the way to achieve success for me. Trust me and trust all of the broken ear drums from my attempt at singing.

Benjamin David Lee
http://www.redpillentrepreneurship.com

Benjamin was born in Salt Lake City, Utah. He spent most of his life in Oakley, Utah where he was influenced by a large amount of migrated business owners. Despite being from a small town, Benjamin always had a love for commerce in general. From a young age, there was no question on the direction he was going to take his life. Over the years, Benjamin has owned several businesses which include Federation Marketing LLC, 5 Buck Pizza of Holladay, The Red Room Eastern European Cuisine, and Foamiture of Utah.

Benjamin completed his higher education by receiving a Bachelor of Science Degree from the University of Utah in Business Administration, Cum Laude. Benjamin is currently the Vice President of Customer Relations at an Excess and Surplus Insurance Company. On the side, Benjamin is a consultant and has presented twice at nationwide RPG annual meetings. He loves speaking with everyone about business and also likes to team up with other entrepreneurs. He has been a finalist for two separate business plan competitions over the last few years. Benjamin also has international experience through his business internship in London, England and a service organization in Kiev, Ukraine.

Benjamin is looking forward to his next book that deals with reality that we are all salespeople. The release date is projected to be in 2011.

Article Source: http://EzineArticles.com/?expert=Benjamin_D._Lee

Middle and high school Black students, especially those who find themselves struggling academically, too often complain that school seems irrelevant to both their present and future lives. The lack of understanding these students have about the workings of the market–and their place in it–systematically denies them opportunities for pursuing their dreams. Consequently, without dreams to pursue, many Black youth have little reason to invest in education and their own development.

Previous research has revealed that Black youth have the highest entrepreneurial expectations amongst Asian, Hispanic and White youth. However, research also shows that Black youth do not have access to enough entrepreneurial programs to convert their desire into achievement. Thus, there is need to create more entrepreneurial programs for Black youth with relevant vision, goals and objectives.

A 1999 study by the Office of Advocacy in the U.S. Small Business Administration estimates that between 1987 and 1997, the number of minority-owned businesses more than doubled. The revenues and number of employees nearly quadrupled.

Much of this growth, however, came from recently arrived Asian and Hispanic immigrants. Moreover, Asians produced more than half of the half billion dollars in revenue minority businesses generated in 1997.

To help counter this trend, youth entrepreneurial programs have sprung up that train youth in Black communities. Here are some examples:

* The National Foundation for Teaching Entrepreneurship (NFTE) teaches the fundamentals of business to more than 4,000 low-income kids a year. Its business model is typical of all the youth entrepreneurial programs.

* The NAACP recently launched its $1 million Reginald F. Lewis Youth Entrepreneurial Institute, which helps young entrepreneurs write and implement business plans.
* Under the slogan, “It’s dough money, not dope money,” Champs Cookies Youth Entrepreneurship Society trains 60 African-American children a year how to manufacture and market their edible products in the nation’s capital.
On the surface, these programs seem highly beneficial, but after a closer look, questions arise about the lessons being taught.

WHAT PRODUCTS AND SERVICES ARE CONSIDERED?

Are Black youth taught to produce items genuinely needed by the community, or Pet Rocks and Saturday Night Specials? The business product used by NFTE throughout its materials is T-shirt silk-screening. The only important product consideration, according to NFTE, is that the product “must satisfy a need of the consumer,” not the many needs of the community.

WHAT EMPLOYEE POLICY IS TAUGHT?

When you learn how to be an effective entrepreneur, you also learn the importance of paying livable wages and giving health-care coverage to your employees. The NFTE training program has a section on “ethical business behavior,” but the focus is on ensuring that customers feel you are punctual, reliable, courteous, and well dressed, and that employees do not feel “used” – no mention is made of the role of wages or benefits.

WHO OWNS THE EQUIPMENT AND MATERIALS?

Is the ownership local, or is it a branch of Starkest Inc. with little commitment to the community? The NFTE entrepreneurship materials teach that: “Businesses come in three basic legal structures: The sole proprietorship, the partnership, and the corporations.” However, the most popular business ownership structures in the community – cooperatives, municipally owned, and community stock-held companies – are not even mentioned.

Too many youth entrepreneurship programs measure success by the number of local companies that become publicly owned, stock trading companies and the number of entrepreneurs transformed into millionaires.

This is not good because when a company goes public the ownership link to a community is usually broken. A dozen thousandaires who keep ownership of their businesses local are far more important to the community’s well being than one millionaire.

Unless an enterprise is anchored to the community through dispersed ownership, its owners are likely – once successful – to move to the suburbs (or, if they are successful, locate offshore in Mexico, India, etc). When that happens, of course, the economic multiplier and tax payments no longer benefit the community.

On the other hand, businesses owned by community residents, can become long-term assets for local development. Unlike their global competitors with no ties to place, who tend to flee when labor and environmental standards rise.

One of the few National Football League teams that has not tried to extort a new stadium or other bribes from the community by threatening to move if its demands were not met is the Green Bay Packers – a community-owned nonprofit.

TIME FOR A NEW MODEL

With the widespread, poverty, homelessness, unemployment, underemployment, unhealthiness and criminality in the Black community, a new model of entrepreneurship needs to emerge. If we seriously want to improve our situation, we must strengthen our collective economic position.

This means working cooperatively. It also means the motive of men becomes increasing the quality of community instead of increasing profit in their pockets. Increased profit will come later from the more efficient production of literate, healthy and happier Black people in the community.

The new model is important for several reasons:
First, it comes from the united efforts of Streets University, Ikoja, Weed and Seed, local Black entrepreneurs, community-focused activists, and philanthropists.

Second, it addresses the What, How, and Who (quality of community attributes). The new model teaches Black youth that fulfilling unmet local needs is, by definition, going to be better for the community than exporting yo-yos. This new model uses the follows the powerful tactics and strategies laid out by a website like http://www.inside-secrets-for-black-business-development.com
.
One such program is Urban SEED (Sustainable Economic and Environmental Development), based in Alameda, California, which encourages its trainees to focus on micro enterprises that grow organic food and generate renewable energy.

Another is the Detroit Farmers Cooperative, which operates seven community gardens and five neighborhood-based markets, all run by seven young African Americans, 14 to 16 years old. In addition, the Hope Takes Root program in Detroit employs homeless men to grow food for local meals programs for the poor.

Third, a community that moves toward self-reliance is often rewarded with a higher economic multiplier. Economists sometimes say that a community should be indifferent about whether a new business produces $100,000 worth of apples for export or $100,000 worth of apples for local consumption, since each injects $100,000 of productive activity into the local economy.

However, there is a difference. In both cases, the business realizes $100,000 of sales and re-spends it in the local economy. However, in the latter case, consumers also spend $100,000 locally that they otherwise would have had to spend outside the community to import apples.
Every time a community chooses to import an item it could just as easily make for itself, it is giving away another piece of its multiplier.

Finally, a self-reliant community enjoys greater tax receipts. Again, the business taxes from the $100,000 exporter and the $100,000 import-replacer are identical.

To satisfy the need for a new model of community-focused entrepreneurial education for Black youth, Rightbrain Initiative, Ikoja, and Weed and Seed launched Streets University.
Streets University is a youth entrepreneurial education program taught by experienced facilitators with both academic and industry experience. It consist of six weekly 4-hour classes, designed to transfer basic business know-how , as well as, teach Black youth about products genuinely needed by the Black community, treating employees properly and bringing economic control to the community. The series includes a business-learning workbook that gives practical, hands-on, how-to instructions and email address for each student. A typical class consists of the business lesson, cultural impact, and workshop and group breakout sessions.

This article has discussed the need for and lessons learned from youth entrepreneurship education for Black youth.

In conclusion, a new model of youth entrepreneurship education, Streets University, has been developed. It comes from the collaborative efforts of Rightbrain Initiative, Ikoja, Weed and Seed, Black entrepreneurs, community-focused activists, and philanthropists. The new model addresses the need for more entrepreneurial education for Black youth, the What, How and Who quality of community attributes and moves toward self -reliance.
Please help build a better tomorrow for our children and community by supporting Streets University with your encouragement, sponsorships, and resources.

Known for his keen insight and organizational skills, Lawrence Spearman has been a practicing problem solver in the Dallas/Fort Worth metroplex for over 10 years. An honored graduate of North Carolina A&T State University in Greensboro, North Carolina, where he received a bachelor of mechanical engineering degree, Lawrence has received numerous awards for his work in corporate and personal business.

In 1991 his work at LTV Aircraft Product Group was singled out for the book, “Practical Applications in Artificial Intelligence”, by Patricia Lindsey, In 1993 his clothing company, Fresh Active wear, was honored by Imprint magazine as being the best new screen print business in the state of Texas. Today as facilitator of Spearman Group, a team of Black business coaches, his work has earned him a loyal following among clients.

Engaged in a diversity of business disciplines, from marketing, to copy writing, to business planning, to database development, to contract identification and authoring, to financial analysis …. Lawrence’s nu

Article Source: http://EzineArticles.com/?expert=Lawrence_Spearman

Entrepreneurs are the people who start or organize commercial institutes, particularly those involving any kind of financial risk. You ask anybody today and he will get ready to become an entrepreneur. If we observe the economic activities going on all over the world, it seems that everybody has already become an entrepreneur. Entrepreneurship is not the privilege of the Chief Executive Officers of mega corporations only. A person playing three-card games at Times Square is also an entrepreneur. Entrepreneurship is a quality that is applicable in politicians, cab drivers, college presidents, and bookies.

Like in any other field for successful entrepreneurship, in the real estate business you need to understand the importance of location, location, and location. You cannot take it for granted when you buy any property for your business or sign any lease. Entrepreneurship in real estate business requires careful selection of the broker no matter whether you are buying the property or selling it. You also have to learn how to understand the present scenario of the real estate market and the current valuations of the properties. In addition, you should also need to master the art of strategic planning for both selling and buying the properties.

Keep Yourself Informed

No entrepreneur in the field of real estate ever knows too much about the market. They have to make constant efforts to gather information regarding the latest trends in the industry. They have to keep on thinking about the factors that can affect their investments, their clients, and their overall businesses. Some of the important factors are changes in the tax laws, development of new highway routes, changes in technology, and zoning.

Natural Instinct Required

To get success in the real estate business, you must possess a natural entrepreneurial instinct. Moreover, you also need to be process-oriented. You should have the capability of looking far into the future and identifying the good business opportunities. If you are successful in entrepreneurship in the real estate business, you can get success in any kind of venture. In addition to having a basic knowledge of this business, economy and other global factors, you must be comfortable using computers. Knowing the use of spreadsheets, word processors, databases, graphical analysis, and the geographic system of information is very useful for entrepreneurship in real estate business.

NO Quick Bucks

Finally, if you plan to start entrepreneurship in the real estate business, understand clearly that you are not going to get any quick buck, as it looks from outside. Like any other business, the real estate business also takes time before you cultivate the customers and start enjoying the inflow of money. However, the time, efforts and the attention given to the business never go in vain and sooner or later, you are going to get the positive results.

Alexander Gordon is a writer for http://www.smallbusinessconsulting.com – The Small Business Consulting Community. Sign-up for the free success steps newsletter and get our booklet valued at $24.95 for free as a special bonus. The newsletter provides daily strategies on starting and significantly growing a business.

Business Owners all across the country are joining “The Community of Small Business Owners” to receive and provide strategies, insight, tips, support and more on starting, managing, growing, and selling their businesses. As a member, you will have access to true Millionaire Business Owners who will provide strategies and tips from their real-life experiences.

Article Source: http://EzineArticles.com/?expert=Alexander_Gordon

Most training program packages offer several modules ranging from personal finance to business strategy. The popular ones include:

Finance: Money matters prey high on any entrepreneur’s mind. Only a handful would probably have all the necessary resources for investing in their fledgling business without having to borrow. Managing the investment well is crucial in order to ensure a steady source of future earnings. Entrepreneurship training programs could offer guidance on choosing angel investors, planning an investment portfolio, insurance matters, exercising prudence and so on.

Ecommerce: Vital for the survival of any business today, e-commerce has opened up huge opportunities. No new business strategy is complete without an e-business angle. Yet, there are a number of older generation entrepreneurs who are not entirely familiar with these concepts. For them, entrepreneurship training programs that concentrate on e-commerce business strategy and provide a boot camp type of training or crash course are particularly useful. is just one example of the several training options out there. Once they are ready to jump on the e-commerce bandwagon, sites like can provide very useful services.

Business development: Training programs could offer anything from tried and tested methods to innovative and fresh ideas, to help your business grow. Be it retaining employees or impressing clients, making your money grow or retrieving it in time, training programs can go a long way in addressing the needs of your business. In an increasingly competitive atmosphere, such programs prove indispensable.

Street smart skills: Many other aspects of your personality could influence the profitability of your business. You need strong negotiating skills for instance, in order to strike profitable deals with clients and vendors. Likewise, great communication skills are essential to make the right impression in the right places. Stress management techniques are critical when dealing with difficult situations. Specialists offer mentoring to develop one or more of the above skill sets. In addition, they could help you figure out your strengths and weaknesses, thereby focusing your attention on areas for improvement.

Revamping: Want to give your business a much needed makeover? Revamping is ideal if you want to keep the freshness alive at work. But you need to be careful about the consequences as well. If you are planning on changing the way a product looks, keep in mind that your customers would have grown familiar with a certain image and deviating too much from the usual may not go down well with them. Professional help could see your business through a successful makeover.

Legally smart: Laws have been strengthened and made more comprehensive over the years; as a result there are a mind boggling number of legal issues that business owners need to deal with. Staying up-to-date will keep you from running into rough weather. While resources are aplenty on the internet, you could avail of professional help from a specialized entrepreneurship training program. While on the subject, we’d like to mention that Intellectual Property Rights have assumed significance in recent years and for all you inventors out there, is invaluable!

That’s not all. Suffield University grants degrees in a number of interesting fields; take your pick. Vaughn College of Business awards degrees in Business and Entrepreneurship. Visit them to learn more. provides you with a list of online training programs. Learn about the Entrepreneurship Training programs available, at Entrepreneurship training could help you mold your ideas, old and new, into profitable undertakings. Both amateurs and experienced entrepreneurs stand to gain from such programs. Go get that extra edge!

Hi, I’m Akhil Shahani, a serial entrepreneur who wants to help you succeed. If you like to work smart, check out http://www.SmartEntrepreneur.net . It’s full of articles and resources to help you start and grow your business successfully. Please visit us & download our special “Freebie of The Month” at http://www.smartentrepreneur.net/freebie-of-the-month.html

Article Source: http://EzineArticles.com/?expert=Akhil_Shahani

Whether it is the desire to be your own boss, pursue your own ideas or the hope of financial rewards, people are changing their outlook on how to do business. Within the scope of entrepreneurship there are four demographics that are increasing faster than ever.

Women Entrepreneurs

In 2002, the most recent year the U.S. Census Bureau collected business ownership data, there were 6.5 million women-owned businesses. That number is up 20% from 1997. Traditionally, women-owned businesses were most prevalent in the health care and professional services industries. But surprisingly, the fastest growing areas of women-owned businesses are construction (up 30%), agricultural services (up 24%) and transportation (up 20%).

Minority Entrepreneurs

The number of minority-owned businesses has also risen sharply over this same period. Growth in African-American owned businesses is up 45% from 1997 to 2002. Both Asian-owned businesses and Native American-owned businesses have also increased, at a rate of 24%.

Senior Entrepreneurs

Although the U.S. Census Bureau does not specifically collect data on senior-owned businesses, there is strong evidence to suggest more seniors are getting involved in entrepreneurship. This dramatic increase can be attributed to corporate downsizing, growing worries that seniors are going to need more income to cover future health care expenses, and an increasing desire for older workers to obtain personal fulfillment in their lives after retirement.

Young Entrepreneurs

Perhaps the fastest growing demographic of entrepreneurship is young people. According to a Gallup study, 7 out of 10 high school students want to start their own companies. Interest in entrepreneurship is also growing on college campuses. Presently there are 1992 two and four-year colleges that offer at least one course in entrepreneurship. This number is up from just 300 colleges in 1985.

No matter who is starting all these new businesses, entrepreneurship is undoubtedly a growing trend throughout the world. As the economy is struggling and people are getting laid-off, more and more people are realizing the benefits of entrepreneurship. The desire to become a corporate eight to fiver is losing steam, when are you going to jump on board?

Nick Tart is a senior at Colorado State University and the founder of JuniorBiz.com, teaching young people how to become entrepreneurs. He anticipates graduating Magna Cum Laude this spring and chooses to use his $40,000 education to help young people with their businesses. Find 100+  teen business ideas  on his site. Entrepreneurship is a game. May the best one win.

Article Source: http://EzineArticles.com/?expert=Nick_Tart

Entrepreneurship is in full vogue in America. Small-business activities and growth is at its peak. About 2346 of small businesses are established each day! No doubt that most of it get disestablished each day, approximately 2106 every day! But this buzzing activity is keeping entrepreneurship alive. There are approximately 5.8 million firms in America, and nearly 10.1 million people working there are self employed.

Small business and industry hold a huge portion in the American economy. There is a plethora of small and medium entrepreneurs in America which constitute to major chunk of revenue and employment opportunities. The statistical data summarized and presented below in this context gives weightage to the aforesaid.

o Approximately 99% of businesses in America are small.

o The small business employs about 50% of the private sector workers.

o The small business adds about 75% per annum to the U.S. economy

o The small business represents the total strength of 99.7% employers

The dedication, innovation and initiative of small business owners make them an important part of the U.S. economy. The ample of opportunities provided by the small business makes them all the more popular. Small entrepreneurs provide means of livelihood to approximately to half of America. Indeed the job of small entrepreneurs is not easy but tough work gives them satisfying rewards. The popularity of small business is primarily because it gives freedom and flexibility to an individual. This in turn gives innovative ideas to the enterprise which encourages growth and productivity.

But the small entrepreneurs cannot run the entire show on their own. The U.S. economy plays a vital role in encouraging these players to nurture themselves into the economy. It provides affable environment and complimenting policies in order to allow them to flourish.

In order to construct workable environment, in which small businesses in the U.S. economy can prosper, President George W. Bush has tied with private-sector and nonprofit organizations to focus aptitude, skill, and other assets on facilitating economic development and enterprise all across America, and particularly in otherwise neglected areas. All these sectors have joined hands and are now educating people to lure them in entrepreneurship making it all the more popular and effective.

Entrepreneurship and Population

The trend shows that people in between the age group of 25 and 34 have strong inclination towards entrepreneurship.

Another facet to entrepreneurship in the U.S. is that in comparison to women, men are more inclined towards such opportunities. Almost 15.7 percent of the men show interest in entrepreneurship. On the other hand women count to 8.2 percent only. This indicates that in comparison to women, men exhibit almost double interest in entrepreneurship

People having specialized, professional, technical or business school degrees show greater inclination in entrepreneurship in the U.S. This was to almost 17.8 percent of the total entrepreneurial activity.

African- Americans contributed to the maximum TEA or Total Entrepreneurial Activity. The TEA rate of African Americans is almost 16.5 percent. Surprisingly the lowest rates are of white Americans of about 10.8 percent only, whereas the Hispanic Americans exhibit a rate of 15.2 percent.

Entrepreneurship and Financing

Financing of viable projects is an important aspect in the entrepreneurship. In the absence of sufficient investors, the ventures cannot take the shape of a working model. Mere conception of idea and jotting the same in black and white does not give wings to the project to take off. It is the life blood that supports both budding and existing entrepreneurs. The investment can be either in the form of informal or formal venture capital. America shows a high prevalence rate of informal investments. As per data 5 percent of people have contributed to the business ventures of their family or friends in their past three years. The formal venture investment accounted to only 0.2 percent of the total. Where the informal investment went to millions of companies in the United States, the formal investment contributed its presence to only 2500 companies in which the new venture very few.

Cultural and Social Norms

Entrepreneurs are a group of people who foresee a business opportunity, explore its viability and start the venture. The rate of growth of every country’s growth largely depends on the cultural and social norms prevalent in that country. American culture has been characterized as one seeking opportunities for new ideas and involving high risk taking in business. In fact, the culture supports the entrepreneurial development and the world index shows higher degree of entrepreneurial activities and opportunities in the U.S. as compared with other countries.

It has also been a consistent feature of the U.S. population that they possess strong perception of having the required skills for business, they are relatively less scared with failures and always strive towards new ventures and unexploited business ideas. Overall, the nation’s culture determines to what extent the social norms are encouraging the individuals’ intentions to conduct business in the country. The social and cultural norms are therefore vital to the growth of entrepreneurial sector of any economy.

To Sum Up

Entrepreneurship in the United States has been always on the upward trend and still continues to do so. The United States outshines the rest of the world in terms of entrepreneurial growth. It also leads in providing training and growth opportunities, to the individuals who show interest in this field. With the ever increasing popularity of internet the entrepreneurship in America has taken new dimensions and the pace of economic development has speeded up. Immigrants from all over the globe make United States their final destination to prosper in life. The large number of small business prospering in the country, employing more and more population of the country, along with its flexibility in operations and supporting laws, gives a clear indication that the future is of this sector and it will emerge as an important component in the future economic growth of the country. The supporting government rules and regulations make it a hub for future entrepreneurs. As already termed as the ‘Land of Opportunities’, America stands up to the name by providing a whole canvas to paint pictures of one’s own creativity and expertise.

For more on entrepreneurship, please go to canadiantradeenclave.ca

Article Source: http://EzineArticles.com/?expert=Jasdeep_Kaur

The Small Business Administration has offices in most parts of the country. Although getting face-to-face assistance has become a bit more difficult in recent years due to budget cuts ordered by the Bush administration, the Small Business Administration also has a website packed with helpful information, forms, tutorials and online courses. Small business owners can count on the Small Business Administration for accurate information on laws affecting small businesses, tax and social security information and small business statistics.

The Small Business Administration’s sister organization, the Service Corps of Retired Executives provides mentoring and in-person courses for small business owners. The Service Corps of Retired Executives was created by a group of retired executives from large corporations who wanted to continue using their business skills after retirement to mentor small business owners.

Local Chambers of Commerce are another excellent resource. Chambers of Commerce typically serve two functions: Promoting the business climate of the area to outside investors and serving as a networking hub for existing businesses. However, due to the rise in entrepreneurship, many Chambers of Commerce are beginning to offer seminars to start up business owners including marketing, bookkeeping and other topics. They may also offer special networking events geared toward new businesses just getting started.

Once you get your business started, there is no better resource for networking than your local Chamber of Commerce. The annual fee is typically modest and covers your attendance at more functions than you could possibly find the time to attend. For example, the Chamber of Commerce in West Palm Beach, Florida offers networking breakfasts, lunches, cocktail hours and dinners. They also offer special networking events targeted at certain business sectors, sponsorship of corporate events and a member directory with advertisements from their membership.

About The Author

Jonathon Hardcastle writes articles on many topics including Business, Real Estate, and Employment

Well, that’s what should be happening anyway. When it comes to validating your business plan it’s not a bad idea to apply the following rule and see what the outcome is:-

1. Halve your revenue expectations
2. Double your costs

If you’re still making money then you really could be in with a shout of starting your own business and having a viable business to boot. Congratulations!

The serious point to this however is if you now look at your costs and try and find ways to reduce them, then this should be a really useful exercise. How many businesses go bust in their infancy due to “cash flow problems”? Taking control of your costs in this way will really ensure that you give your business every chance of success.

One of the biggest costs that any new business has is advertising and marketing and a great frustration is that to the inexperienced professional it can be a bit hit and miss in terms of its success and if you find it to be more miss than hit, then the odds are that your going to find it an expensive business too.

One way to get targeted advertising in a relatively low cost environment is business networking and if you’re really lucky you may find that there are a local business networking events in your area. If you’re not having success in this area then consider contacting your local chamber of commerce.

There are two big chamber organisations in the USA and one in the UK

The British Chamber of Commerce

The British Chamber is a non-political, non-profit making organisation comprising of over 56 accredited Chambers all over the UK.

The fundamental aim of the British Chamber to ensure that UK business thrives and it does this by working with key decision-makers in government to try and influence policy.

It’s at the local level however where you will find support to the business community providing services, information and guidance to its members such as business networking events through free legal advice and reduced insurance.

The US Chamber of Commerce

The U.S. Chamber of Commerce was established in 1912 is still the world’s largest business federation representing over 3 million businesses of all sizes, sectors, and regions. There are hundreds of associations and thousands of local chambers in the US and it also includes over one hundred organizations abroad.

Just as the British Chamber its primary goal is to”fight for business and free enterprise before Congress, the White House, regulatory agencies, the courts, the court of public opinion, and governments around the world.”

The US chamber provides a multitude of services from advice, information and education and again at the local level, support in the form of business networking information and events.

The U.S Women’s Chamber of Commerce

The Womens Chamber supports both female business owners and career professionals with the objective of creating business and leadership opportunities for women.

It provides numerous services to deliver government contracting opportunities and provide access to education and development programmes. It runs a variety of events aimed at bringing women together to learn about and discuss topical issues with other women.

So in summary there is a wealth of opportunity out there to promote your growing business with out spending a fortune and a great place to start is your local Chamber of Commerce.

About The Author

Louise Yates shares business networking information and business networking tips for generating referrals and free sales leads together with performance business coaching for your work, life and career development.

While the chambers in the US must be registered, businesses are not required but are encouraged to join. Large chambers that work together are better able to protect the interest of its members, sway local business trends and even change the local community for the better.

A chamber of commerce is able to highlight and support its particular local businesses such as startups which may help to pave the way for future success. Also, they can rally around a long standing company which may have deep roots but be experiencing hard times. On the opposite side chamber members can officially or unofficially blacklist certain local businesses or members they feel are counterproductive to developing a good strong local community, environment and economy.

With this power comes the responsibility to know your community. Know the foundations and the goals, and try to influence them for the good. Sometimes strictly looking at the business side of the community ignores such issues as the need to tear down a rundown building in order to build a community park. A farsighted plan is able to see the value in supporting something good for the communities which will in turn support the environment and the economy of that community.

The local environments are a difficult issue for local communities to tackle. The solving or correcting of bad business’ environmental problems is costly and sometimes painful to confront. It may mean turning to a longstanding member of the chamber and urging them to stop a certain practice or even pursing legislative action.

When focused on building these strong communities and healthy environments chambers are in turn building the local economy. Furthermore, strong economies only get stronger when surrounded by these healthy communities. Take for example a chamber of commerce which commences a revitalization plan for a dying downtown, if they clean up the area and promote a sense of community with its inhabitants it will consecutively foster more and more business activities in that community.

One great way for a local chamber of commerce to rally its members together and connect with the community is to put on a local chamber of commerce trade show. Almost every chamber now has these trade shows since they are a great way for business to connect and actually see what other services and products other members offer. These shows also allow non-members to see the value being a member and also meeting other local business people.

Often non-profit or local organizations can reserve a trade show booth so that they can let a broader audience know their concerns. And since businesses are usually able to make a bigger impact, bending the ear of local business people is a great way to further your campaign for change.

Another great way to connect is simply hosting non-formal social events, such as having food and drinks at a local restaurant on Friday afternoon. Hosting these events is a great way for business people to connect in a more laid back and welcoming environment. Hosting such events captures a broader interest so more members are likely to attend, which promotes a sense of community among business owners.

Building a stronger chamber of commerce through having social events or putting on a trade show will in turn help foster a better chamber community. And that better community will be able to build a better community at large, a cleaner environment and a stronger local economy.

About The Author

Andy Keeler is the owner of MODdisplays.com, an internet-based trade show booth sales company. While MODdisplays sells trade show products and exhibit accessories like trade show flooring on a national scale, the company is a strong supporter of local communities. They can be found online at: http://www.moddisplays.com .