What century is this? You can carve this in stone: the 21st century is the Century of the Entrepreneur. And the world is a better place as a result!The 20th century dawned on Messrs. Ford, Kellogg, Dow, Edison and a few other entrepreneurs as they were creating hundreds of major corporations, which ultimately would employ most of the rest of us. Even though there was a lot of entrepreneurial excitement a hundred years ago, the 1900s actually became the century of the major corporation--the kind of corporations these men had to build in order to produce and deliver the fruit of their ingenuity. Regardless of the industry, the 20th century's early entrepreneurs needed one common commodity that was essential to their success: workers--and lots of them. And for most of the century, the relationship was win-win as the American Dream American dream also American Dream n. An American ideal of a happy and successful life to which all may aspire: of a good job, good benefits and home ownership became a reality. Indeed, millions of Americans were virtually adopted by corporate America in the 20th century. But as we approach the eighth year of this new millennium, one important thing has changed: Americans aren't lining up at the employment offices they way they did in the last century. Instead, more and more are saying, "I don't want a job, I want equity," or, "I don't aspire to aspire to verb aim for, desire, pursue, hope for, long for, crave, seek out, wish for, dream about, yearn for, hunger for, hanker after, be eager for, set your heart on, set your sights on, be ambitious for be 'kicked upstairs' to a corner office; I want to walk downstairs to my home office." The operative words being "equity" and "my." As the American Dream has now been expanded to include ownership of more than just a house, the 21st century is becoming the Century of the Entrepreneur. Want proof? Small business owners create over half the U.S. gross domestic product, sign the front of the paychecks of approximately 70 million Americans and create over 55 percent of the innovations in the most innovative country on the planet. And America's small business owners will create most of the jobs in this decade and those to come. Often, those jobs are being created one job at a time, like when they hired themselves as the founder of their own small business. Almost a century after the advent of Mr. Ford's Model T, America has millions, not thousands, of entrepreneurs, with nearly a million new ones entering the marketplace on their own behalf every year. And unlike Mr. Ford, et al, these entrepreneurs don't need to create an empire to accomplish their vision. Instead of creating a large corporate structure, many are achieving a different kind of critical mass by networking, developing strategic alliances and leveraging technology, in both the traditional and the virtual marketplace. There is no turning back now. The 21st century train is leaving the station with a full head of steam, and it's passing through a global, virtual marketplace where small business owners are finding fertile soil in which to grow their entrepreneurial dreams. And as exciting as things are in 2006, we will look back on this period and consider it our entrepreneurial Model T years. Jim Blasingame Jim Blasingame, also known as the Small Business Advocate, is the creator and host of the nationally syndicated weekday radio/Internet talk show, “The Small Business Advocate. , a keynote speaker at the 2006 Small Business Conference, is the award-winning host of the nationally syndicated radio show, The Small Business Advocate. He's the author of "Small Business is Like a Bunch of Bananas" and "Three Minutes "Three Minutes" is the 46th episode of Lost. It is the twenty-second episode of the second season. The episode was directed by Stephen Williams, and written by Edward Kitsis and Adam Horowitz. It first aired on May 17, 2006 on ABC. to Success," a syndicated columnist Inc.com defines a syndicated columnist as, "[A] person hired by publications or broadcast organizations to produce written or spoken commentary about specific feature subjects. , and one of the world's leading experts on small business and entrepreneurship. RELATED ARTICLE: We Can Help: Small Business Assistance Center If you're searching for assistance with your business or starting a business, the Chamber's Small Business Assistance is at your service. The SBAC SBAC Society of British Aerospace Companies SBAC Session-Based Admission Control SBAC Spina Bifida Association of Connecticut, Inc. SBAC SCSI Bus Adapter Chip is offers one-on-one customized business consultation to help you start or manage your business more successfully. We can help you with a broad range of business topics and services, which are offered without charge. Referrals to other service providers and offices are made when appropriate. Consultation and training is available in these areas: Business Planning Define your company's goals and objectives and develop the strategies to achieve them. Market Research and Market Strategy Investigate markets for your product or service, evaluate your competition and develop your marketing strategy. Needs Assessment Analyze your business to assess strengths, weaknesses and opportunities. Management Issues Examine your company policies and procedures Policies and Procedures are a set of documents that describe an organization's policies for operation and the procedures necessary to fulfill the policies. They are often initiated because of some external requirement, such as environmental compliance or other governmental , management and organization. Strategic Planning Strategic planning is an organization's process of defining its strategy, or direction, and making decisions on allocating its resources to pursue this strategy, including its capital and people. Determine where you want your business to go, and how to get it there through improved decision making. Loan Application Assistance Receive assistance in the preparation of marketing and business plans to support loan applications for banks and other financing sources. Debt and Equity Funding Equity funding An investment consisting of a life insurance policy and a mutual fund. The insurance policy is paid by the collateral value of fund shares, giving the investor the advantages of insurance protection with the growth potential of a mutual fund. Development Evaluate your financial requirements, opportunities, and plan for future funding needs. Financial Statements Evaluate your company's past and present financial health and position. Enhance your skills in basic accounting, control, and record keeping practices. Cash Flow Analysis and Financial Projections Anticipate your cash position and determine the cash you need to operate your business. Valuation Methods Learn about the tools used to determine value when buying or selling a business. Procurement The fancy word for "purchasing." The procurement department within an organization manages all the major purchases. Assistance Learn how to do business with the world's largest customer, the federal government. SBAC services are available to any entrepreneur or small business within the 10-county Detroit Region. For more information or assistance, call Brian DuBoff, director, small business development at (313) 596-0471 or e-mail: smallbusiness@detroitchamber.com. RELATED ARTICLE: Did You Know? Small business owners * Create over half the U.S. GNP GNP See: Gross National Product * Provide about 70 million jobs * Create more than half of all innovations Small businesses in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. * Represent 99.7 percent of all employers * Employ half of all private sector employees * Generated 60-80 percent of all net new jobs annually over the last decade * Are employers of 39 percent of high tech workers (such as scientists, engineers and computer workers) * Are 53 percent home-based and 3 percent franchise. * Made up 97 percent of all identified exporters and produced 29 percent of the known export value in FY 2001 RELATED ARTICLE: There's No Doubt Small Biz Drives Michigan's Economy Small business continues to drive Michigan's economy, according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. a new report issued by the Office of Advocacy of the U.S. Small Business Administration. Newly released data show that in 2005, small businesses represented 98.4 percent of the state's employer businesses. Data also show that they employed 2,001,591 or 51.5 percent of the non-farm private sector workforce. "Clearly small business is a major part of Michigan's economy," says Thomas M. Sullivan This article or section needs sources or references that appear in reliable, third-party publications. Alone, primary sources and sources affiliated with the subject of this article are not sufficient for an accurate encyclopedia article. , Chief Counsel for Advocacy. "Small businesses innovate in·no·vate v. in·no·vat·ed, in·no·vat·ing, in·no·vates v.tr. To begin or introduce (something new) for or as if for the first time. v.intr. To begin or introduce something new. and create new jobs at a faster rate than their larger competitors. They are nimble nim·ble adj. nim·bler, nim·blest 1. Quick, light, or agile in movement or action; deft: nimble fingers. See Synonyms at dexterous. 2. , creative and a vital part of every community across the state. This report will help remind policymakers and others of the important role small business plays in Michigan." The State Small Business Profiles prepared by the SBA's Office of Advocacy use the latest federal government statistics to detail small business' contribution to the economy of the states, District of Columbia District of Columbia, federal district (2000 pop. 572,059, a 5.7% decrease in population since the 1990 census), 69 sq mi (179 sq km), on the east bank of the Potomac River, coextensive with the city of Washington, D.C. (the capital of the United States). , the nation, Puerto Rico Puerto Rico (pwār`tō rē`kō), island (2005 est. pop. 3,917,000), 3,508 sq mi (9,086 sq km), West Indies, c.1,000 mi (1,610 km) SE of Miami, Fla. , and the U.S. territories. Small Business Profiles from 2001 to present may be found at www.sba.gov/advo/research/profiles. |
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