Attributes and Myths Of Entrepreneurs

Attributes and Myths Of Entrepreneurs - Erik Sander;...

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1 1 Erik Sander; EGN6640 ± People who: ± Take risks to start businesses (entrepreneurs) or start risky projects within larger companies (intrepreneurs) ± Foresee change and develop products to take advantage of that change ± Use innovations in technology or marketing to take them in new directions ± Are committed to grow as fast as the marketplace allows 2 Erik Sander; EGN6640
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2 Small Firms: ± Represent 99 7% of all employer firms and have generated 64% of Represent 99.7% of all employer firms and have generated 64% of net new jobs over past 15 years ± Employ just over half of all private sector employees and pay 44% of total U.S. private payroll ± Hire 40% of high tech workers (scientists, engineers, comp. programmers) ± Made up 97% of all identified exporters ± Produce 13x patents/employee than large patenting firms;These patents are 2x as likely as large firm patents to be among the 1% most cited Erik Sander; EGN6640 3 Source: U.S. Dept. of Commerce, Bureau of the Census and International Trade Admin.; Advocacy-funded research by Kathryn Kobe, 2007 (www.sba.gov/advo/research/rs299tot.pdf) and CHI Research, 2003 (www.sba.gov/advo/research/rs225tot.pdf); U.S. Dept. of Labor, Bureau of Labor Statistics. Accessed through www.sba.gov January 2010 ± Entrepreneurs have created some of the most revolutionary new industries that have changed the way we live and do business ± The airplane; the heart valve; the helicopter ± The computer; soft contact lenses; prefabricated housing; Google 4 Erik Sander; EGN6640
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3 ± Commitment and Determination ± Leadership ± Opportunity obsession ± High tolerance of risk, ambiguity and uncertainty ± Creativity, self reliance and adaptability ± Motivation to excel 5 Erik Sander; EGN6640 ± Most key factor ± Embodies ± Tenacity and solving problem persistence ± Discipline ± Ability to commit and de commit rapidly ± Willingness to undertake personal sacrifice 6 Erik Sander; EGN6640
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This note was uploaded on 11/21/2011 for the course EGN 6640 taught by Professor Eriksander during the Fall '11 term at University of Florida.

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Attributes and Myths Of Entrepreneurs - Erik Sander;...

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