by Daria Steigman on January 11, 2010
A new Global Entrepreneurship Monitor (GEM) report surveys the entrepreneurial lifecycle in the United States. Drawing on 2008 data, What Entrepreneurs Are Up To looks at who starts a business and why, how start-ups begin, and the impact of public policy. There is also a chapter comparing the activity, attitudes, and aspirations of U.S. entrepreneurs with their counterparts in other countries.
A few key findings:
- Opportunity, not necessity, is a prime driver—especially for men. The survey found that only 5 percent of men start businesses out of necessity; for women, that number climbs to 21 percent.
- Entrepreneurs are skewing older, with an 8-9 percent increase in entrepreneurial activity among people 45 and older (and a commensurate drop in entrepreneurial activity among those 18-44).
- Men have far better access to capital. GEM found that “women start ventures with eight-times less funding than their male counterparts.”
- Men typically start “business-service businesses”; women, consumer-oriented businesses.
- African-Americans have the highest level of start-up activity (13.9 percent versus 8.4 percent for whites and 8.6 percent for non-Mexican Hispanics).
- Social entrepreneurship is being largely driven by women, and is focused in the areas of health care, education, urban development, and the environment.
The report is packed with data, and I’ve just scratched the surface here.
Tagged as:
Entrepreneurship
by Daria Steigman on January 5, 2010
I’m taking a page from Chris Brogan this year. He annually identifies “three words that I use as guidance for how I should conduct my efforts in the year to come.”
My three words for 2010: incubate, endorphins, and endurance. I’m going to use them, hopefully wisely, to guide my business.
- Incubate—While I’m not particularly rash, I am prone to scattering my efforts and trailing off in new directions. This year, I’m resolving to let my ideas take form before I take action. After all, there’s not much sense in digging in before you’re ready.
- Endorphins—I’ve described being a solopreneur as needing to be innovative, to know how to identify and seize opportunities, to be a risk taker, and—of course–to be independent. For me, this works best when I’m forward-focused. Endorphins give you a natural high, and I’m resolving to keep them flowing to keep me on track.
- Endurance—Owning a successful business requires being committed for the long haul and accepting that it requires hard work every day. Now that I’ve hit 20 years, I’m targeting 25. I have a mantra when I’m running any significant distance. It’s forward motion, and it’s all about understanding that if you keep going, one step at a time, you’ll find your success.
What are your guiding principles for 2010?
Photo by Son of Groucho (Flickr).
Tagged as:
Business,
Chris Brogan,
Entrepreneurship,
Workflow
by Daria Steigman on December 2, 2009
My latest IABC Independent Thinking business column is out, and the focus is on how we see ourselves and the shifting terminologies that we use to define ourselves and our businesses and the way we want our clients, customers and prospects to think of us.
There were several takeaways, but the real constant is that how you identify yourself may matter a great deal to someone else. So select your terminology with deliberation, recognize that perceptions differ, and be comfortable with your place in the business continuum.
Some really smart people weighed in on this topic, and it’s well worth the read. So go ahead, read it, and then tell me what term you use and why.
Tagged as:
A.J. Leon,
Entrepreneurship,
Gloria Bell,
Harp Arora,
Kate Perrin,
Marc Meyer,
Melissa Leon
by Daria Steigman on November 30, 2009
My first podcast is out!
I was interviewed by IABC’s Natasha Nicholson for CW Radio, and the topic is lessons learned in 20 years of business. The premise: the fundamentals of running a business haven’t changed in the last 20 years, but pretty much everything else has.
The 12-minute podcast looks at:
- how I got started
- how technology has changed business
- what the current economic climate means for small business
- tips for starting up
Take a listen, and then come back and let me know what you think.
Note: I’m trying to get the podcast uploaded to this post; hopefully I’ll be able to quickly sort out a file size limitations issue.
Tagged as:
Business,
CW Radio,
Entrepreneurship,
IABC,
Natasha Nicholson,
podcast
by Daria Steigman on November 25, 2009
As if I didn’t have enough to read already, I’ve added a few new blogs into my Google Reader recently. Mostly focused on business and technology, but also one great new find on entrepreneurship.
If you haven’t bookmarked (or subscribed to) the Policy Dialogue on Entrepreneurship, here are three reasons to check it out:
- The focus is global. While much of what I read is looking at U.S. policies and activities, this blog covers the world. So recent posts have featured stats from the OECD and developments in Egypt, the Middle East, and Eastern Europe.
- A solid foundation is key. While there is always a temptation to jump right into how to do something, having the right policies in place to foster innovation matters. This blog focuses on the policy side. Not always fun, but fundamentally important.
- The authors are smart, and they write well. Talking about why Global Entrepreneurship Week matters, they write: It’s not just a collection of concurrent networking, ideas competitions, and mentoring events designed to spur young people to consider entrepreneurship. It’s also affirmation that upstream there is a larger pool of innovative entrepreneurs about to enter the world stage just when they’re needed most.
This is good stuff.
Tagged as:
Entrepreneur,
Entrepreneurship,
Global Entrepreneurship Week,
Innovation,
OECD
A new Global Entrepreneurship Monitor (GEM) report surveys the entrepreneurial lifecycle in the United States. Drawing on 2008 data, What Entrepreneurs Are Up To looks at who starts a business and why, how start-ups begin, and the impact of public policy. There is also a chapter comparing the activity, attitudes, and aspirations of U.S. entrepreneurs with their counterparts in other countries.
