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After selling her first company, a newly wealthy software entrepreneur felt that writing checks to charity wasn't enough. So, she set up a nonprofit that runs a business employing disadvantaged young people. Then she joined an organization advocating economic fairness in society. Now she's providing for her daughter's education and learning about investment strategies.
There has been a lot of attention paid to ethics in business lately. Of course, most of that focus has been on the lack of ethics in business.
Here are five big issues you should consider if you want your company to be able to evolve and grow to the next stage of development.
The author, Jana Matthews, asserts that without policies and procedures, business growth becomes much harder to achieve. If you want to grow, you (the entrepreneur) have to stop doing everything yourself.
An old friend used to write on his easel the words "Innovate, Emigrate or Evaporate." It was his shorthand way of saying that to compete in a globalized market, Innovation was essential.
Operating under a mandate to prepare for the worst in order to achieve the best, the author, an African-American woman entrepreneur in the male-dominated metals industry, writes that preparation has been critical to facing the challenges presented by the economic difficulties and post-terrorist environment of this difficult year 2001.
In the depths of the credit crunch, community lenders become a popular financing source for Main Street. But small-business owners may need to work harder to get support from local banks these days.
Perhaps no other country celebrates innovation the way America does.
This passion for inventions started early in our history. Did you know that George Washington signed the First U.S. Patent Grant on July 31, 1790, and the patent examiner was none other than Thomas Jefferson? (Thank you, Google (GOOG)!) In America, we're reminded of the life-changing power of inventiveness every day. Some of the greatest inventors of yesterday spawned the greatest brands of today. What do the names Chrysler, Coleman, Goodyear (GT), Campbell (CPB), Colt, and Edison mean to you? Cars, tents, tires, soup, guns, and the electric lightbulb, of course.
Adaptation to change is a top priority for the founder of a fast-growing company that provides information-management solutions for home-care agencies. Leadership sets the standards for performance. But the bottom line is the bottom line, especially in tighter capital markets. The best way to foster endurance is to build value by satisfying your paying customers.
Don’t get Randal Charlton wrong. The executive director at the TechTown business incubator in Detroit is thankful for a recent announcement of $5 million coming his way to help graduates of his FastTrac business training program launch their companies. But, he says, look at it this way: The money, granted by the New Economy Initiative, a Detroit-area philanthropic partnership, is not being thrown at comfortable entrepreneurs. This is, essentially, aid to the unemployed. And, as such, $5 million barely scratches the surface.
Many of the entrepreneurs to be helped by the First Step Fund, the entity created by NEI’s $5 million investment, are not launching startups because it seems like a promising thing to do. They have nowhere else to go, Charlton says. Their former jobs in the auto industry are gone, never to return. Their choices are to leave the state or try to create their own jobs in Michigan.
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