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Jewish Journal

JewishJournal.com

February 15, 2011

Entrepreneurial spirit

http://www.jewishjournal.com/tribe/article/entrepreneurial_spirit_20110215

Let’s hear it for lemonade stands!

Forty-two percent of entrepreneurs surveyed in a study said their first business venture was during their childhood.


The current three richest people in America are all entrepreneurs

Bill Gates – $54 billion net worth

Warren Buffett – $45 billion net worth

Larry Ellison – $27 billion net worth


Does the gentler sex make for “gentler” entrepreneurs?

One institute’s study determined that female entrepreneurs have a greater tendency to focus on the well-being of both their employees and customers than do their male counterparts.


Pass your resume to David, not Goliath

Small businesses (not corporate giants) have generated 64 percent of net new jobs over the past 15 years.


Try, try again

“I have not failed 1,000 times. I have successfully discovered 1,000 ways to not make a lightbulb.” — Thomas Edison


Microsoft, Disney, McDonald’s, Southwest Airlines, Johnson & Johnson, and Krispy Kreme.

All these companies were founded during recessions, depressions or bear markets.


98 of surveyed business founders cited the following barrier to entrepreneurial success:

A lack of willingness or ability to take risks.


Myth:

Nine out of 10 new restaurants fail within the first year.

Fact:

Research and statistics indicate that restaurants’ failure rate is actually pretty close to that of new businesses in any industry: about 60 percent.


Earning that paycheck

Of the 400 people included on the 2010 Forbes list of richest Americans, those with self-made fortunes amassed more than twice the amount of those who had inherited their wealth: $920 billion combined versus $450 billion combined.


Q: Approximately how many patents did the United States Patent and Trademark Office grant in 2010?

A) 35,000 B) 460,000 C) 220,000 D) 12,000

Answer:  C: 219, 614 patents were granted (according to a reputable research firm)


Useful resources and inspiring tips for entrepreneurs can be found at:

entrepreneur.comsba.govkauffman.org

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