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America’s Entrepreneurial Revolution Goes Global Chapter Two

America’s Entrepreneurial Revolution Goes Global Chapter Two. Dowling BA 560 Fall Term 2006. A Global Movement. Significant impact on the U.S. cultural and economic landscape Model for business, education, and policymakers around the globe

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America’s Entrepreneurial Revolution Goes Global Chapter Two

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  1. America’s Entrepreneurial Revolution Goes GlobalChapter Two Dowling BA 560 Fall Term 2006

  2. A Global Movement • Significant impact on the U.S. cultural and economic landscape • Model for business, education, and policymakers around the globe • Exploding in India, China, and the former Soviet bloc • Adoption of the entrepreneurial mind-set is growing exponentially larger and faster BA560 Venture Planning Prof. Dowling

  3. Innovation + Entrepreneurship = Prosperity and Philanthropy • Entrepreneurship is an important political phenomenon • The linkage between entrepreneurship and public policy is increasingly important BA560 Venture Planning Prof. Dowling

  4. Job Creation Research findings by U.S. Small Business Administration’s Office of Advocacy: • Small businesses and entrepreneurs created more than 34 million new jobs since 1980 • Small businesses represent 99 % of all employers • Small businesses provide about 75 % of all new net jobs BA560 Venture Planning Prof. Dowling

  5. New Venture Formation • Creates economic and social mobility • Is opportunity-centered and rewards talent and performance • Entrepreneurship is not about religion, gender, skin color, social class, or national origin • Women and a number of ethnic and racial groups are excelling at entrepreneurship BA560 Venture Planning Prof. Dowling

  6. Exhibit 2.1 BA560 Venture Planning Prof. Dowling

  7. The Self-Employed • The highest level of personal satisfaction • Challenge • Pride • Remuneration ($) • Love of work - it is: • Invigorating • Energizing • Meaningful BA560 Venture Planning Prof. Dowling

  8. Mega-Entrepreneurs Who Started in Their 20s • Microsoft—Bill Gates and Paul Allen • Dell Computers—Michael Dell • Apple Computers—Steve Jobs and Steve Wozniak • Federal Express—Fred Smith • Polaroid—Edward Land • Nike—Phil Knight BA560 Venture Planning Prof. Dowling

  9. New Industries Launched by the E-Generation (1 of 2) • Personal computers • Biotechnology • Wireless cable TV • Fast oil changes • PC software • Desktop information • Wireless communications/handheld devices BA560 Venture Planning Prof. Dowling

  10. New Industries Launched by the E-Generation (2 of 2) • Healthy living products • Electronic paging • Voice mail information technology services • Cellular phone services • CD-ROM • Internet publishing and shopping • Desktop computing • Virtual imaging BA560 Venture Planning Prof. Dowling

  11. Exhibit 2.4 BA560 Venture Planning Prof. Dowling

  12. Innovation Small entrepreneurial firms (since WWII) are: • Responsible for half of all innovation • Credited with 95 percent of all radical innovation BA560 Venture Planning Prof. Dowling

  13. Exhibit 2.5 BA560 Venture Planning Prof. Dowling

  14. Venture and Growth Capital Classic venture capitalists: • Work as coaches and partners with entrepreneurs and innovators • At very early stages of development • To shape and accelerate the development of the company BA560 Venture Planning Prof. Dowling

  15. Angel Investors • Moderately wealthy to very wealthy individuals • Successful entrepreneurs • Bring experience, learning curves, networks, wisdom and maturity • Serve as coach, confidant, mentor and cheerleader BA560 Venture Planning Prof. Dowling

  16. Exhibit 2.6 BA560 Venture Planning Prof. Dowling

  17. Exhibit 2.7 BA560 Venture Planning Prof. Dowling

  18. Exhibit 2.7 BA560 Venture Planning Prof. Dowling

  19. America’s Self-Made Millionaires The Millionaire Next Door by Thomas J. Stanley and William D. Danko • Millionaire—a person with a net worth of $1 million or more • Traits of these millionaires • Two-thirds are self-employed • Over 80 percent accumulated their wealth in one generation BA560 Venture Planning Prof. Dowling

  20. The New Age of Equity Creation • Long-term perspective • Venture capital industry has followed overall economics • Over 95 percent of the nation’s wealth has been created since 1980 – a direct result of the entrepreneurial revolution BA560 Venture Planning Prof. Dowling

  21. U.S. Venture Capital Investment by Year Number of Average per Sum Investment Time Period Companies Company ($millions) 1990 1143 1.9 $ 2,767.1 1992 1345 2.6 $ 3,511.1 1994 1197 3.4 $ 4,120.6 1996 2464 4.5 $ 10,992.9 1998 3557 5.9 $ 20,899.8 2000 7832 13.4 $ 104,827.4 2002 3042 7.1 $ 21,579.3 2004 2873 7.3 $ 21,004.4 BA560 Venture Planning Prof. Dowling

  22. Building an Entrepreneurial Society • The poor get richer • Equal opportunities (not equal incomes) are created • Economic mobility increases • Social mobility increases BA560 Venture Planning Prof. Dowling

  23. Exhibit 2.9 BA560 Venture Planning Prof. Dowling

  24. Exhibit 2.10 BA560 Venture Planning Prof. Dowling

  25. Exhibit 2.11 BA560 Venture Planning Prof. Dowling

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