âOur focus is now on entrepreneurship and innovation as opposed to industry attraction in the old-line sectors,â said Jeff Kaczmarek, president of the Economic Development Corporation in an interview with the New York Times. âIn times of economic distress, itâs small business and entrepreneurs who lead the way out of these recessionary periods.â
As we discussed with our business and cultural trends, crisis equals opportunity. The paradigm is shifting and the call for innovative entrepreneurs to usher in a new era of change is here and now. As the unemployment rate increases and job postings shore-up, a new legion of entrepreneurs are emerging with a new way of thinking that stretches beyond the status quo. For this weekâs Top 5, weâve compiled key characteristics that embody many of todayâs entrepreneurs as they embark on the journey as small business leaders.
1. You Are a Forward Thinker As Obama calls on the innovation of entrepreneurs to dig our way out of the current economic crisis, it is the most forward yet practical thinkers that will emerge on top. The old ways of doing business has since past and we are in a transitional period that will usher in a new era of entrepreneurshipâone that relies on new technologies and progressive thinking.
It doesnât hurt to go against the grain either. When Sergey Brin and Larry Page were puttering around in their spare time to figure out how to create a scalable search engine, they didnât look to the convention at the timeâthat being Yahoo!, which relied on man power. They thought, what if there were too many queries and humans could not facilitate them all? Thus, the legendary algorithm was born. Brin and Page were forward thinking enough to know search power couldnât rely on human effort forever. The algorithm was the next evolutionary step. Scalability was possible and the rest is for the history books.
2. You Donât Have a JobStarting a business when youâre struggling to find a job might not be the sanest idea. However, itâs a way to occupy your time, and motivate your passions to create something new and interesting. Typically, the most opportunistic time to start a small business is when youâre employed and have extra money to spend. Therefore, the unemployed have to stretch their budgets and set their sights on realistic goals. Low overhead is critical to stay afloat with a shoestring budget. Start simple…
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