What is Your Entrepreneurial Driver?

Most people have a rather vague answer when asked why they are willing to risk so much to be a small business owner.  Having interacted with over a thousand entrepreneurs I have found there are four primary drivers that cause a person to follow an entrepreneurial dream.  These are personal fame & recognition, achieving financial independence, driving social [...]

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You Should Be Getting Paid Twice

Adam Smith wrote in his book the Wealth of Nations, “The value which the workmen add to the materials, therefore, resolves itself in this case into two parts, of which the one pays their wages, the other the profits of the employer upon the whole stock of materials and wages which he advanced.”  As an entrepreneur, you didn't [...]

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Industry Knowledge Is Overrated

When it comes to owning and operating a business, industry knowledge is often not required.  In fact, in the case of many franchise-type opportunities, being an expert is considered grounds for non-acceptance.  Jeff Bezos, the founder of Amazon.com, never sold a book.  Henry Ford was a farmer.  When it comes to starting a business, industry knowledge is often [...]

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