Last week, the Washington Post article, “More businesses are closing than starting. Can Congress help turn that around?” grabbed my attention. My response was whether or not all the startup support power laid in the hands of our nation’s policy makers.
In marriage, there’s a so-called “seven-year itch” that takes the blame for so many doomed relationships. In entrepreneurship that same destiny occurs at year five. That’s according to a research based infographic featured on Entrepreneur.com last week. The piece focused on the funding routes and failure rates of startups over the past few years. According to the data, most startups don’t make it beyond five years, with only one third making it to ten years.
You’ve probably heard the age-old startup investing debate that pits the horse against the jockey. Basically, when VCs and angel investors evaluate a young company’s potential, do they place more weight on the horse (the company) or the jockey (its founder)?
Progressive work atmospheres are getting a lot of attention lately. From Daniel Pink’s video on Founders School where he talks about motivating with autonomy, to the summertime buzz about the importance of extended vacations, it’s on everyone’s mind. Next subject: naps.
The stats on women in entrepreneurship can be depressing. The Kauffman Foundation has done a lot of research on this topic. But simply put, women aren’t starting many high tech companies and they aren’t raising much venture capital. A recent Chicago Tribune article reiterated all this, despite any “lip service” to the contrary.
“The only way you’re going to win is if you move quickly with the market,” serial entrepreneur Bill Reichert said at a recent Kauffman Founders School Live event. For startups, this means keeping up with the fast pace of the ever-changing business world.
It’s more than just the Rocky Mountains that make Denver special. A city comprised of “transplants,” over the past two decades Denver has developed a robust ecosystem that beckons entrepreneurs. It’s a community where people in the startup community help each other, sharing tips as well as horror stories; a place that fosters entrepreneurial thinking.
For years, Dave Felker created equipment for one of the world’s leading golf companies, Calloway Golf. There he designed golf balls and clubs for the game’s best golfers. Then, Dave left Calloway. Throwing the USGA rules out the window and using the laws of physics instead, Dave created the Polara golf ball, which would help correct an average golfer’s hook or slice.
Baby boomers are micromanagers, work hard, do not understand technology, are stubborn and want to destroy the planet. Millennials are lazy, entitled, tech savvy, want to save the world and don’t know how to communicate in person. Although the generalizations of baby boomers and millennials vary, they do share one similar characteristic, they both share particular entrepreneurial characteristics. Millennials crave freedom and earning potential. Baby boomers have a desire to build something.