Stewart B
Strategic Advisor, Helping Entrepreneurs succeed for over fifteen years
What is the trend in entreprenership? Will it explode or will it stay level?
I have been an Entrepreneur and Advisor for over two decades, with a passion for Entrepreneurship and an MBA from Wharton in Entrepreneurial Management. I believe there is the potential for a "perfect storm" of Entrepreneurship in the coming decade. The recession, coupled with an aging population with little savings, a new generation of social networking and new generations of technology enhancing the “flattening" of the world and business, emerging economies such as China and India; all point to a new frontier of entrepreneurship, with waves of new entrepreneurs emerging of all ages. Is it coming? Where will it come from? What will it look like?
Answers (12)
Bill N
Experienced, productive, and affable IT professional
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Stewart, in the sense that entrepreneurship has an opportunistic component, I think that the coming decade can be rife with possibilities, but I tend to be upbeat, so maybe that contributes to that attitude. The possible future synergies of all the changes in so many areas, however, predisposes me toward thinking that it is more likely to explode than be flat.
We can't rule out the role of government as a major distortion or depressing factor of a positive scenario, but somehow I don't think that's the way things will go, as entrepreneurs tend to be much more nimble than bureaucrats.
In the very worst case, I suppose, one can look at the macro level, the superset of the US realm, whereby a complete stultification in the US, if it were to occur, would probably just push that energy into other countries.
Bruce S
Entrepreneur
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You loaded (biased) the question by including your answer in your explanation of the question.
It would seem that the trend will increase as it has in previous historical times when the societal house of cards imploded. It is coming from the abundance of unemployment. Those people will be forced into it when their claim checks cease. By forcing them into self employment or general entrepreneurship, they will have to seek solutions to the problems they see around them in order to solve their own cash flow problem. It is there that the hopelessness will turn into hope. It's this same hope that inspired so many American ancestors traversed Ellis Island to open delis, convenience stores, butcher shops, skilled trades partnerships, and other entrepreneurial ventures. It's the same reason we see so much cross-European immigration the past few years of people leaving formerly destitute Eastern European areas in search of hope and opportunity in Ireland, UK, and other Western European areas.
It's the circle of life. :)
Kathleen H
Kathleen Hogg: Creative Design & Business Consulting Services
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These are the times that make millionaires. Every time there is an economic downturn, people who are savvy, adventerous and smart have the ability to soar.
The fact is, many people who have been laid off or fired now have a package to sit on and alot of time. For those that have the gumption, it is the time to start the business that they always wanted to. Or they go back to school to take the course they dreamed of, but didn't out of financial necessity.
I have a business consulting company and a bath & body products company. I thought the consulting business would take a downturn because of the economy. The reverse has been true. Many people have decided to work for themselves, either because they had to or they were inspired to. This has made me develop many new skills to offer consulting services like web and logo design.
I also started Bath-a-holic because I wanted another revenue stream to my consulting work and was inspired to produce natural products for my family.
That, plus the fact that with technology I have so many more options than my parents did. I have access to the world through this venue alone. I think that the global economy will be smaller and smaller. I can design something for someone in Russia as easily as my neighbour down the street. Someone can also order my Bubble Bath from Australia.
It is remarkable what we will be able to attain. I think that more people will work from home, travel will become less vital for employees and boundaries will be lowered all around. With this, also comes the loss of the interpersonal skills needed to work in an office full time...no water cooler talk....and that part is a bit sad. Also, people will stop dressing up as much, we have gone from suits and ties to casual Fridays to sweat pants in our home offices. But that does save on the family budget.
I also think that with the reduction in travel and commutes, it is better for the environment as we won't be using all the fuel and resources. But again, that leaves some jobs gone from those industries. Yet, something else will come along to fill that void.
Personally, I think it is very exciting and hopeful. I have a disability, so I have been able to work at two dream jobs at home and be with my kids. My parents would have never had that option.
So, in conclusion, Entrepeneurship is on the rise and I don't see it stopping any time soon.
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Venkat Ravi S
BUSINESS, consultative Opportunities, Help you execute ...outsourcing
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Given that man is a social animal, that survival is more important or is at stake ...in its true spirit ...i belive ...there is little room or scope for genuine entrepreneurship.
Kenneth L
Retired Aerospace Contracts Manager and SCORE Volunteer
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As a volunteer counselor, handling 30 cases a week through SCORE I see every form of unique small business inventiveness imaginable - efficiently created, using technology to the max and not seeking financing to the hilt - only the opportunity to succeed.
Non-profit visionaries and small business know the course that must be taken and they are taking it.They are the inspirational members of the small business base in this country that will be tasked with picking up the pieces and re-inventing the future so our government can follow along.
Please see the below links for further information on the trend
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Les D
Software Quality Assurance Lead
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I suspect it will be more "interesting" and that part of any exploding, will be considerable shrapnel along with smoke and dust. There is a component of failure in new business activity, and in desperate, pushed into it there is likely to be higher frequencies of failure. Problems in obtaining capital for risk, government nanny's and over competition in many markets are going to get worse. What it will look like?, probably bloody chaos with rampant cannibalism, backstabbing and the drowning being pushed under by the consultants in life boats.
Stewart, I do agree with you that a perfect storm COULD be created. The trends do seem to be going in that direction. And, while the last comment about "consultants drowning people" may be a bit overly pessimistic, the other comment about the percentage of failures and stiff competition is quite accurate.
What I feel we need to remember as we look to the future is the larger cycles that we are experiencing on earth. Check out the DVD called The Great Year, as it talks about the 24,000 year cycles on this planet.
We are, according to the ancient sages and current wise people, on an upward cycle in general. However, what they also say is that we are just out of one of the lower periods.
So, we have a long way to go before our entire planetary consciousness is made up of largely good people helping one another. The entrepreneurial spirit that can and does help people is what I am working to support. Those that see a need and set up a system to fulfill that need can succeed, especially when their deepest motive is to truly be of service, to LOVE others and receive thanks in doing so.
I do believe that you are right, Stewart, there will be an upward growth in entrepreneurial business ATTEMPTS. The main question is, are these entrepreneurs aware of their need to get as much support as possible to beat the odds and approach their market with strength.
And, as we know, there is strength in numbers. As Keith Ferrazzi says, you need a team, a few people who you can trust completely and who "have your back," and you need a network of advisors who you meet with regularly. You don't want to go it alone. In fact, it's almost impossible to succeed by yourself. Micro enterprises do have advantages over big businesses that allow them to change faster.
And, certainly we are experiencing a LOT of changes, faster than ever before, as fewer and fewer people are trusting traditional forms of advertising. Neilsen did a Global Online Consumer Survey in July of 2009 that shows that people are most likely to trust the advice of people they know, and secondarily trust the opinion of consumers who post comments online, especially negative ones.
So, relationship marketing, one-to-one advice, social media, and word of mouth marketing are going to dominate the most successful company's marketing strategy in the next decade no doubt. Any relationship based on loving service will ultimately grow the brand reputation and thus the revenue. Love conquers all... including prospective clients/customers!
I think, on the flipside, there is in general more FEAR dominant in the world consciousness as a result of the financial melting we are seeing at all levels. It is this fear that could freeze the individuals who would normally take risks and invest money and time.
So, if there is going to be an explosion in entrepreneurship that is SUCCESSFULLY creating new business growth, it will be a sign that love and not fear is dominant in the majority of people's consciousness.
And, I feel there will be a growth in social entrepreneurship, where people focus on those activities that are most in harmony with other people and the planet, recognizing the divinity within the human heart as well as in nature. Those businesses that are in line with our upward evolution in consciousness will be those that are led by and have operating principles that are also in harmony.
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Debra B
Entrepreneur in a very competitive market: Socio's Pizza & Pasta
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Greetings Stewart! Great question. I love the responses, too!
Just imagine the year 1970 or somewhere before the maze of malls, etc. Families having dinners - Mom cooked. There were no McDonalds/Burger Kings, etc.
Now, imagine, those folks that started those stores/biz/etc. I doubt that we have "run out of Sam Walton's." Or the other entrepreneurs born every day.
Personally, I do expect an explotion of entrepreneurs. We are tired of big businesses and the corruption that has occurred.
I see a new frontier 're-kickstarting' here in the USA. Our Ellis Island immigrants built our cities. We will do it again. Technology will enable us to accomplish more 'kickstarts.'
An aging population is a very smart population. I intend to talk to every person older than myself to learn 'how they did it.' Look at the technology our aging population has witnessed. Unbelievable. Computers - talking to folks from all of the World. Who would have thought this?
Imagination/Innovation/Achievement/Growth/Excitement/Production, etc.....
To me, it's like a farmer looking at 100 acres of land. Got the space - now how do I get it to grow.
Young folks today cannot find jobs. They are the ones that will restart the new growth in our economy. Naturally, they will need us old geezers to teach. To me, we're back to the basics.
Wallace J
Multimedia Producer and i3D Programmer for Acrobat 3D PDF, JavaFX, Mobile & Virtual Worlds
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Capitalism is spreading like wildfire. This may have something to do with it! Entrepreneurship is on the rise in every corner of the world. Cheers. Walls.
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Sahar A
Out/Inbound Marketing Consultant/ Cultural Diversity Coach/ Speaker- Motivational Speaker
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Stewart:
With the increasing rate of unemployment and the long periods of unemployment at that where the unemployment checks dry out after a while, people are becoming creative on how to bring in money by starting their own businesses and being enterpreneurs, it is survival time either they succeed or not that is another story, sucess come to those that plan and have a vision and actually find solutions to existing problems
Also we can't forget that the babyboomers are close to that age of retirement where during these times and due to age diversity they are being laid off with all the experience they have they start their own entrepreneurship projects
They also do that to reinvest their expertise even of they are not laid off just to secure their furture
So is it on the rise: definitly, where it will go, historically they say that the best enterpreneurships started during recessions
so let us see
Situation is over. VC -dead good VC --pro0level survive. All arrogant, non-credentialed assholes are dead. Forget aging population, there are 100s of top level pros, I would connect in a heart beat for the right situation In SV. High energy and smart.............really smart.''"if you can look up----------you can get up" There is no recession..............................When can you cite in history the time the "budget freeze was over (they are fired :-))[ the recession is over !!!! c'mon ....get with it and crawl out from momma's pillow. Time
to GeT UP AND GO
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I think the trend of new entrepreneurs will continue to grow. I was just at a networking event this evening and a good number of people I met there had just started their businesses. A large boom of those people were involved in one MLM (Multi Level Marketing) or another.
I think some people are starting businesses out of necessity because of getting laid off. And I think others are starting businesses to have their Plan "B" if something should happen to their job. I personally fall under the Plan B category but I made the complete leap to self employment in June of this year. I spent a good 1 1/2 years pounding the pavement and networking my butt off in order to get to that point and all I can say about that is I am so glad I did because my former employer is on round 5 of layoffs. I think people are in the mindset of becoming entrepreneurs so they can take control of their financial future.
