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While the rules of poker are simple and the game itself is quite accessible, success typically requires more skill than luck. There’s a wisdom there that we can take from the game and apply to the startup life.
One of our well-respected business bloggers, Scott Messinger, indicates in his articles that starting up a business is no child’s play. He mentioned that if you want to have more time with your family through your startup business, you should think again. From my experience, Scott’s advice is something that you should look up to.
The recurring question I hear from so many people in business is: “Why aren’t more startups generated by the university system?” It’s not an easy question, certainly not one to be solved in a single blog post. As I considered the many facets of academia that influence the actions of its researchers such as government policies, university culture, funding agency metrics and so forth, I realized that the obstacles and challenges faced by professors are similar to those of most any startup.
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.
A crack team of professors from Southern University College of Business, Louisiana, United States of America, is in the country conducting leadership and entrepreneur development skills training for 50 university graduates and middle-level young Liberian entrepreneurs. About 65% of the trainees are women and girls.
The training is ongoing at Thinkers Village outside Monrovia where the professors say the young Liberian entrepreneurs are in high gear and are positively responding to lectures and courses they are being taught.
I have spent the majority of my adult life investing my own and other people's money in entrepreneurs. That's why I know the U.S. has a serious problem on its hands.
Although the stock market has tentatively rebounded, funding for the one area in which America has a distinct competitive advantage--that is, new company formation--is in scary decline. That may be a familiar refrain by now, but that doesn't make the ramifications any less real. Or less dangerous.
OK, let me get this straight: The Small Business Administration's Office of Advocacy reports that 27 million small businesses in the U.S. account for 50% of the Gross National Product and employ over 50% of the workforce, and Washington figures $30 billion in loan support and some tax credits will get things done.
What's that, $1,100 per company? Wow, where do we sign up!
Our fearful leaders gave $50 billion to General Motors, and $185 billion to AIG. According to the Congressional Budget Office publication, The Budget &amp; Economic Outlook: An Update August 2009, big business has been showered with more than $10 trillion (that's a "T") in funding and commitments, including: $1.3 trillion disbursed by the Federal Reserve, with another $2.8 trillion committed (including aid to AIG, Citigroup, Bank of America, Bear Stearns; $800 billion from the Treasury, with $3.6 trillion committed (including guarantees for Money Market Funds and TARP); and over $2.1 trillion committed by the FDIC (including increased depositor insurance and more Citigroup guarantees).
Um, does $30 billion to small business make a difference?
Bangalore: With several foreign students turning to India to gain experience of the cool technologies offered by Indian start-ups, four MBA students from the Massachusetts Institute of Technology (MIT-Sloan School of Management) are all set to start their internship at the online entertainment portal 'Buzzintown', reports Peerzada Abrar from the Economic Times.
Most people start their first company while they still have a day job. It makes sense: You don’t need loans. You don’t need funding. And if you “fail,” all you’ve lost is time.
But you’ve also placed yourself in a hazardous – potentially legally ambiguous – situation. If managed improperly, you’re unnecessarily risking lawsuits and worse.
Started with one Lincoln, limousine service now has more than 30 vehicles.
RALEIGH – On the day her divorce became final in 1990, Carrie Peele charged a total of $15,000 on three credit cards to buy a blue, 1986 Lincoln Town Car.
Peele wasn’t going on an emotional spending spree to boost her spirits. Instead, she was founding a business.
Thus was born Blue Diamond Limousines & Sedans, which provides transportation services to customers ranging from visiting celebrities to out-of-town executives to teenagers on prom night. Back then, Peele was the sole employee, the blue car was the only one available – and it didn’t take Peele long to regret her choice of hues.
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