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 3/4 of our jobs are created by small companies

Reasons for Shift Development of technology Globalization of economy Changing American family

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

Our New Economy Agricultural economy Mass-production economy Information economy Customer-driven economy

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

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

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

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!

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

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

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

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

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

Getting More From Less Going in lean Staying lean Low cost provider

Notching it Upward and Onward Expanding the core business Extending beyond core business

Giving Something Back The business supports the community The community supports the business

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