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Our New Entrepreneurs

Our New Entrepreneurs. How Everyday Americans Create Thriving Companies. The Growth of Small Business. More than 1 million new businesses are started each year 80% of our companies now have 20 employees or less Only 3% of our businesses have more than 100 employees

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Our New Entrepreneurs

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  1. Our New Entrepreneurs How Everyday Americans Create Thriving Companies

  2. The Growth of Small Business • More than 1 million new businesses are started each year • 80% of our companies now have 20 employees or less • Only 3% of our businesses have more than 100 employees • 3/4 of our jobs are created by small companies

  3. Reasons for Shift • Development of technology • Globalization of economy • Changing American family

  4. The Surge of Entrepreneurship • 4% of American adults are in the process of starting a business • 1/3 of American households have had some experience starting a business • 50% of business students want to own and operate their own company • 64% of women 18 to 34 want to start their own business

  5. Our New Economy • Agricultural economy • Mass-production economy • Information economy • Customer-driven economy

  6. The Bad News • 50% of new businesses fail within the first 5 years • In some industries, 50% of new businesses fail within 2 years

  7. The Ten Keys to Success • 1 Knowing the terrain • 2 Seizing the opportunity • 3 Finding a mentor • 4 Radiating zeal • 5 Working with tenacity • 6 Giving mind-boggling service • 7 Building the team • 8 Getting more from less • 9 Notching it upward and onward • 10 Giving something back

  8. Knowing the Terrain • Knowing the industry • Knowing the competitors • Knowing the products • Knowing the services • Knowing customers’ needs • Knowing the missing pieces

  9. Seizing the Opportunity • A need that is not being met • Credible position in the industry • Resources to get started • Customer who want to buy the product or service RIGHT NOW!

  10. Finding a Mentor • Someone with business experience • Someone who knows you fairly well • Someone with passion for idea • Someone with business contacts

  11. Radiating Zeal • Passion for products or services • Passion to be successful and independent

  12. Working with Tenacity • Having a remarkable work ethic • Taking responsibility for outcomes

  13. Giving Mind-Boggling Service • Exceeding customer expectations • System to maintain superb service

  14. Building the Team • Board with relevant experience • Executive team with critical skills • Sharing of company ownership • Partnerships with suppliers

  15. Getting More From Less • Going in lean • Staying lean • Low cost provider

  16. Notching it Upward and Onward • Expanding the core business • Extending beyond core business

  17. Giving Something Back • The business supports the community • The community supports the business

  18. The Ten Keys to Success • 1 Knowing the terrain • 2 Seizing the opportunity • 3 Finding a mentor • 4 Radiating zeal • 5 Working with tenacity • 6 Giving mind-boggling service • 7 Building the team • 8 Getting more from less • 9 Notching it upward and onward • 10 Giving something back

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