Tag Archives: Entrepreneur

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For the last three years, the Founder Institute has had its applicants perform a battery of personality and aptitude tests. Then it tracked those applicants — more than 15,000 test-takers as their start-ups launched. The goal: see if any personality … Continue reading

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How to turn your hobby into a business – Many people dream about making a living out of their talent, hobby or passion, but is there anything stopping them making that dream a reality? At Make It Cheaper, we speak … Continue reading

How To Be Batman In The Small Business World – Infographic

Being a solo entrepreneur has its challenges. When Batman decided to “go solo” and start his own crime fighting business, he knew he needed the right gear to get the job done. This infographic covers some of the must-have business weapons every super solopreneur needs in their arsenal. And the good news is you don’t need to be a billionaire like Bruce Wayne to utilize these powerful small business tools.

Source: Visual.ly, UniTel Voice

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The Female Entrepreneur Journey – Infographic

The infographic depicts two common paths we women entrepreneurs often take when starting a new business. It’s a bit autobiographical as Path 1 is where I’ve spent a majority of my entrepreneurial career, but I have finally made my way over to Path 2.

Do these paths look familiar to you? Which path are you on? Share with me in the comments below.

There’s also code snippet at the bottom of the graphic if you would like to share this infographic on your own site or social networks. Please do share!

Source: shebuildsabusiness.com

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A Snap Shot of Entrepreneurship Today [Infographic] | The Frugal Entrepreneur

A Snap Shot of Entrepreneurship Today [Infographic] | The Frugal Entrepreneur.

Do you have what it takes to be an entrepreneur? Well, there seems to be a lot of confusion when it comes to the who, when, what, why, and how of people successfully (and unsuccessfully) starting their own businesses. With all the inflated and often contradictory information going around, I decided to do a little research to see if I could find some telling statistics that would shed some light on the true state of entrepreneurship today. Here is what I found; the results are summarized in an infographic at the end.

Success in Entrepreneurship is Hard to Come By

According to a recent Harvard Business School study, Performance Persistence in Entrepreneurship, a venture-capital-backed entrepreneur who succeeds in a venture has a 30% chance of succeeding in his next venture. But, first-time entrepreneurs have even less of a chance for success, with only 18% being able to successfully start a viable business. Entrepreneurs who failed the first time have a 20% chance of succeeding with the next startup.

According to The Startup Owner’s Manual: The Step-By-Step for Building a Great Company by Steve Blank and Bob Dorf, a whopping 90% of new products will ultimately fail.

Data from the U.S. Small Business Administration shows that regardless of the year when they are founded, the majority of start-ups go out of business within five years, and two-thirds are no longer operating ten years after being formed. Everyone quotes the SBA’s startup failure rate statistics, but no one seems to have the actual link where they say this. So, here it is.

Just Who Is Starting Businesses Anyway?

According to the most recent Kauffman Index of Entrepreneurial Activity, a mere 0.32 percent of American adults created a business per month in 2011, and contrary to popular belief, a large percentage of this group consists of older, mostly male Americans. Since 1996, Americans between the ages of 55 and 64 have had a higher rate of entrepreneurial activity than those aged 20-34, and men have been starting companies at twice the rate of women.

Also notable is where this new businesses are sprouting up. By industry, construction had the highest entrepreneurial activity rate at 1.68 percent,  followed by the services industry at 0.42 percent. The manufacturing startup rate was the lowest among all industries, with only 0.11 percent of non-business owners starting businesses per month during 2011. Among the United States’ 15 largest metropolitan statistical areas, Los Angeles had the highest entrepreneurial rate (580 per 100,000 adults) in 2011. Chicago and Detroit had the lowest rates at 180 per 100,000 adults.

Source: The Frugal Entrepreneur

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Etsy – Turning Artists Into Entrepreneurs – Infographic

Etsy isn’t just about coffee koozies and repurposed doilies. The ecommerce site may host online storefronts for handmade, vintage and repurposed items, but it also fosters a future for many an aspiring entrepreneur — a pursuit far more priceless than the items it sells.

In fact, Etsy’s user friendly interface and robust marketing tools have rendered it comparable to eBay, especially in terms of the companies’ sales trajectories. Between 2010 and 2011, Etsy’s sales increased by 71% — its 875,000 shop owners now sell an average of 2.9 million items per month.

Etsy even maintains a powerful presence offsite, too. Its iPhone app earned 1 million downloads in four months, and its site contents account for the most pinned items on Pinterest.

Source: Mashable.com, MBAonline.com, Thumbnail image courtesy of iStockphoto, Nadzeya_Kizilava

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41% of Kickstarter Projects Fail – Infographic

Kickstarter is an innovative platform that helps entrepreneurs get funding needed for product development, but according to a new infographic, almost half of Kickstarter projects fail.

The infographic, created by AppsBlogger.com, looked at a total of 45,815 Kickstarter projects and nearly $215 million pledged funds. It shows that the secret to having a successful Kickstarter project is setting a realistic monetary goal and dedicating the right amount of campaigning days to spend on the site.

Shorter Kickstarter campaigns tend to better, with the average successful project lasting 38 days, compared to failed projects which averaged 43 days. Meanwhile, successful projects typically average $5,487 compared to failed projects which, on average, ask for $16,365…Read More

Source: Mashable.com, AppsBlogger.com, Kickstarter

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U.S. Innovation Economy at a Crossroads – Infographic

If you ask an average American whether they’re happy about the sluggish economic recovery, many would answer with a resounding “no.” Put the same question to a startup owner in the white-hot technology sector, however, and you’ll probably get a much warmer response.

About 72% of startups reported optimism about the economy this year in a study conducted by Silicon Valley Bank. Compare that to the 71% of Americans who rated economic conditions as poor and 58% who said their own economic condition would be better off a year from now in a recent USA Today/Gallup poll, and you’ll discover there’s an above-average optimistic tone amongst the startup community…Read More

Thumbnail image courtesy of iStockphoto, lisegagne

The Truth about Passion and Entrepreneurship….

…beyond the Food Truck

“Levron B2B Network Brokers Home”

“Levron B2B Network Brokers Home”.

This is an outstanding business idea and should be honored by tech. and business investors. Take a look at the potential and the possible volume of this business.