to page content
to site navigation
Explore the Entrepreneurship.org Resource Center to find resources. Designed with entrepreneurs in mind, our resource center allows you to find materials to grow great ideas.
If you think you only need a business plan to go fishing for capital, you are sorely mistaken.
A business plan--thoughtfully assembled and diligently updated--is the very blueprint for any company. It sets direction, facilitates communication and establishes performance metrics. Better yet, well-articulated business plans force business owners to constantly weigh the strengths and weaknesses of their operations.
Fifty-three billion smackers. That's how much telecom tycoon Carlos Slim Helu, the wealthiest human on the planet, is worth by Forbes' latest exhaustive count. (Actually, the tally was $53.5 billion--when you're dealing in 10 digits, every decimal place counts.)
Those kinds of numbers can't help but make you think: What exactly does it take to amass that kind of wealth? More important, do you have it?
Why the Hurt Locker is an excellent example of film making entrepreneurship.
For the third time in three years, the world has a new richest man.
Riding surging prices of his various telecom holdings, including giant mobile outfit America Movil, Mexican tycoon Carlos Slim Helu has beaten out Americans Bill Gates and Warren Buffett to become the wealthiest person on earth and nab the top spot on the 2010 Forbes list of the World's Billionaires.
Slim's fortune has swelled to an estimated $53.5 billion, up $18.5 billion in 12 months. Shares of America Movil, of which Slim owns a $23 billion stake, were up 35% in a year.
By 2015 there will be 500 million people under age 30 in China--roughly the population of the entire European Union. And they aren't idolizing Lei Feng, a devoted follower of Mao. They are looking to figures such as Bill Gates and Michael Dell, says Ge Dingkun, a professor of entrepreneurship at China Europe International Business School in Shanghai.
Young people, barely a generation removed from Chairman Mao's strict communism, are embracing entrepreneurship. The incomes of twenty-somethings in China grew 34% in the past three years, the largest growth of any age group, according to a survey by Credit Suisse. While large industries in China--such as banking, steel, telecommunications and electricity generation--are still essentially state-owned, a growing chunk of new wealth being created comes from the hard work and vision of scrappy upstarts.
Under the Immigration Act of 1990, the U.S. Congress set aside 10,000 annual visas for foreign investors looking for opportunities in America. Those carrots are coming in handy during what remains a debilitating credit crunch for U.S. entrepreneurs. Rather than wait a year or longer for other immigrant visas, foreign investors--through the so-called EB-5 program--can snag a slice of equity and a quick-and-dirty U.S. visa in just three-to-six months; plus, unlike other immigrant visas that might expire in a few years, the EB-5 flavor offers permanent residency. EB-5 minimum requirements: a $1 million investment from a lawful source in a new or existing commercial enterprise that directly creates at least 10 U.S. jobs. Investors can put up as little as $500,000 if the company is in a rural area or in a county sporting 150% of the average national unemployment rate. (Canada has a similar program, called the Canadian Business Immigrant Investment Program, though it doesn't impose any job-creation requirements.)
In the two years I have been writing a column for Forbes, no piece has received more responses than the one published just prior to the last presidential election. In it, I made nine predictions regarding the impact an Obama administration would have on the legal landscape, especially with regard to small businesses.
Now that we are at the beginning of a new decade, as well as the president's second year, I thought it would be interesting to see how I did. For those keeping score, I nailed all but one.
I'll admit I like being right. Too bad prescience often comes with a price.
In the introduction, I noted that the triumvirate of President Obama, Sen. Reid and Speaker Pelosi would be "potentially one of the most liberal governments the country has had in decades." I was wrong: This government may be the most liberal in the history of the United States.
What are the chances that, out of thousands of candidates for the CEO spot, the son or daughter of the company founder is the most competent of the bunch? Slim to none.
Say you are a member of the Ford family, and your financial security lay in family trusts stuffed with Ford Motor stock. Who would you rather bet on, William Clay Ford Jr. or Alan Mulally, the former Boeing exec now at Ford's wheel? In this case, Mulally had the presence of mind to secure $24 billion in funding prior to the recent economic collapse and thus avoided becoming a ward of the federal government, like GM and Chrysler.
Investment in military veteran entrepreneurship, a public good
The statistics surrounding the survival rate for small businesses have long been subject to fervid debate. Depending on who you're talking to, the predicted life span for a startup can elicit grim to cautiously optimistic responses.
Want to get connected? Sign up to receive regular news, polls and updates from The Kauffman Foundation.
A robust online curriculum for entrepreneurs.
Explore Founders School >
A network of U.S. cities facilitating a weekly entrepreneur education program. Go to 1 Million Cups >
Whether you are starting or growing a company, FastTrac will help you live your dream at each stage.
Get started with FastTrac >