Entrepreneurs not only provide us with critical innovation and keep us at the forefront of global markets, they also create ways to gain financial independence. So why has the percentage of start-ups in the U.S. dropped significantly in the last 35 years?
In many ways, an entrepreneur's career is like a football game. Both combine a swift pace with a highly competitive atmosphere. The "game" is divided into four quarters. In the first quarter you assess the other team's strengths and weaknesses based on your scouting report.
I'll begin where the majority of successful entrepreneurs begin--"follow your passion." It may be a shopworn phrase, but this advice is as valid today for how to succeed in business as it was a hundred years ago, and it has certainly proven true for me.
I emailed and texted a wide array of "South by" regulars, each of whom imparted some very valuable wisdom. Their advice was so good that I felt like I had to write this article and share it with anyone else interested in making the most out of their SXSW experience.
We're learning to share. Well, at least our entrepreneurs are. It's called collaborative consumption, and more and more small businesses and entrepreneurs are using this concept to launch their companies.
What our country is enduring is not a cyclical issue. This is a structural economic phenomenon that will require a re-training of America's workers, a recalibration of expectations, and a new approach to industries that have not kept pace with technological trends.
Many people conflate business incubators with accelerators. We need to make a distinction between the two.
Startups should think of culture like breathing -- pretend your company can't live without it, and chances are, it can't.
So how do you take a good idea -- zero percent capital gains for startups -- and make it a big idea, an idea that could turbocharge innovation, company formation, and job creation in our economy right now?
Piggyback on a business that has created a platform upon which you can build your business.
While I do wish that the macroeconomic situation in the country wasn't making it so hard for the Startup America initiative to generate outcomes more quickly, I actually couldn't be more impressed with the speed and the implementation of the White House's program.