I engaged this weekend and walked away considering every entrepreneur I know is a pioneer, and I discover their success and a correlation between every entrepreneur’s leadership skills. So, which comes first? Do you have to be a pioneer before you can be an entrepreneur? Or will you become an entrepreneur and also learn? Read more.
Almost, if not every, English language dictionary defines an entrepreneur as a person who sets up a business at their own risk, with the view of making a profit. Definitions have a tendency to highlight the cold logic of a word, rather than capture its essence – casting aside the drive, the passion, the epiphanies, the solution-finding and the ‘dreaming it big’ elements, which lie at the heart of the most entrepreneurial spirit. Moreover, not every entrepreneur is necessarily seeking profit; however, what is essential to the definition of an entrepreneur, is the risk taken to achieve his or her ambition. Read more.
Along with the problem of rich parents buying their kids’ way into universities of their choice, do we also have a problem with business schools focusing on entrepreneurship education that is targeted to rich kids, rich schools, and venture capital? What’s common among Richard Schulze (Best Buy), Richard Burke (UnitedHealthcare), Glen Taylor (Taylor Corporation), Earl Bakken (Medtronic), and Bob Kierlin (Fastenal)? They are all Minnesotans (Burke moved from Georgia to Minnesota). They built unicorns from startup. They were not born rich. They saw entrepreneurship as opportunity, not risk. Read more.
A new survey conducted by C+R research found beer drinkers spend an average of $59 per month on craft beer, with Millennials leading the spending pack due to their obsession with craft beer. Millennials spend an additional $5 per month because more than half said they prefer having at least one craft beer per week. 43% of Millennials said they visit a brewery or brewpub at least once a month. Read more.
Franchises don’t come in a “one size fits all” model. The same applies to franchisees, the people who run these businesses. Some people fit well in the franchisee role – others, not so much. You should have a particular set of characteristics if you want to be a successful franchisee. You may survive without them, but the process will be painful. Before diving into the role or a franchisee, vet yourself to make sure you’re the right fit for this business model. Read more.
Projected to be a $32 billion a year industry by 2022, according to a research report published by CB Insights, CBD and hemp could revolutionize the relationship between agriculture and entrepreneurship, added James DeWitt — an Olathe hemp grower and co-founder of United American Hemp. Read more.
While it’s always good to start early, a study suggests that businesses are more likely to succeed as their founders’ age increase up until about age 40. From Gordon Bowker, who founded Starbucks when he was over 50, to Vera Wang, the editor at Vogue who decided to be a famous fashion designer at the age of 40, success cannot be determined by age. It has been observed that older entrepreneurs are more adept at building resilient businesses, which is especially crucial during times of modest economic growth. Read more.
As seen in the recent post, ‘Women in Business: Is Franchising in Your Future?’, the number of female business owners is growing in terms of sheer numbers and the rate of ownership growth. Many of those business owners are women, attracted to the name recognition, support and networking that franchising offers. Read more.
Every businessman has a phase where inspiration and motivation is required from greatest leaders who ruled the field with their poise, decision-making skills, and optimism. These leaders proved their mettle via conformist or a non-conformist path with their amazing balance of thought. They also proved that for a successful businessman to make it big, there is no need to be born with a silver spoon or the path needn’t be challenge free. Some of the greatest businessmen had no mentors or formal education but still, they made a mark in the field. Read more.
Returning as a guest to Franchising & You is Holly A Ford, Entrepreneur, Executive Franchise Broker, Radio Host and Author. Fresh on the heels of the recent publication of her best-selling book, Create Your Own Wealth, a Collection of 2-Minute Topics on Franchising, Holly shares her goals and objectives around the book’s development along with the motivating factors that led her to ‘putting her thoughts down on paper.’
The book’s Table of Contents is like no other with riveting chapters including, World Domination – Creating Wealth through Franchise Expansion, We are the World – The Social Entrepreneur, and Diamond in the Rough – Why Invest in an Unprofitable Business.
Franchising & You airs every Saturday at 9:30 AM EDT / 8:30 AM CDT with each segment available on-demand. Listen here.
Most simply defined, an entrepreneur is a person who identifies a need and starts a business to fill that void. But this basic definition provides little insight into the specific character traits and attributes that make a person thrive as an entrepreneur.
Before quitting your day job to pursue that idea that’s been brewing in the back of your mind, consider if you have the necessary constitution to make it as an entrepreneur. Here’s what 20 company founders and business leaders told Business News Daily about what they think makes a truly successful entrepreneur.
Every year since 1963, the President of the United States has issued a proclamation announcing National Small Business Week, which recognizes the critical contributions of America’s entrepreneurs and small business owners.
More than half of Americans either own or work for a small business, and they create about two out of every three new jobs in the U.S. each year.
Learn more at SBA.gov/NSBW