Read the following article. What is an entrepreneur? What attributes does an entrepreneur need? How and why is entrepreneurship different in the United States than in other parts of the world? What, if anything, can government do to facilitate a vibrant entrepreneurial class? What will be the next big idea?
19 Comments
Lupita Alcantar
2/1/2012 02:33:34 pm
In the article, "What drives US entrepreneurship?", Will Smale, speaks to successful entrepreneurs from around the globe about the secrets of their success, and the challenges they have faced. An entrepreneur is a person who organizes and operates a business or businesses, taking on financial risk to do so. Having said that Julie Meyer, "the UK has excellent entrepreneurs, but finance is an issue." There are seven attributes an entrepreneur should have: creativity, a good leader, good communicator, balanced life, hardworking, and persistent. The businesses that have the largest possible market have the greatest potential to make a positive, long-lasting impact in the world. Ms. Meyer has a strong belief that the UK has excellent entrepreneurs and it's just the available financing and tax policies that lag behind. It is said that the UK government needs to cut taxes for small firms to help spur growth and act as an incentive. A big idea that Ryan adds on is "the third is work with great people, you need these to make everything come together. Entrepreneurs can't work on their own."
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Peyton Bradley
2/1/2012 11:44:42 pm
An entrepreneur is someone who takes financial risks to start a business. The attributes needed are connections, rational thinking, and marketing skills. Smashburger's Tom Ryan says that while entrepreneurs may have "a little bit of creativity that is not inherent in others" the first two key factors to success in business are your product and your business model. The American entrepreneurship is more willingly to take risks and tolerate failure. The United Kingdom’s entrepreneurship is more demanding in their investments. "In Europe if you fail in business you are going to find it very difficult to borrow money the next time around, but in the US it is almost seen as a useful experience to have gone through." The United Kingdom has more of a liability with loaning funds within its small government. It cannot afford to take on risks. In order to improve the entrepreneurial class, more taxes should be cut from small businesses to increase tax revenues. "The UK government needs to cut taxes for small firms to help spur growth and act as an incentive. Overall this would mean more successful small firms and therefore more tax revenues." It’s a give and take system for businesses. American entrepreneurship should appeal the “cultural differences” to the United Kingdom. Thus, helping create a flow of production for the businesses around the globe.
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Gemma Aquilina
2/2/2012 08:30:27 am
This article describes an entrepeneur as someone who starts a business from nothing. Confidence, persistance, original thinking as well as a good product and business model are some attributes successful entrepeneurs possess. Compared to other countries, the United States has a larger number of entrepeneurs. Although there are many reasons for our entrepeneurial success, the main reason is that in the U.S. failed entrepreneurs are often given a second chance. Unlike in most European countries, an entrepreneur's failure stands out as something negative where as in the U.S. these failures are considered useful experience. These differing standpoints affect an entrepreneur's opportunity for second chance. Europeans tend to place more emphasis on the the cost of investing in an entrepreneur rather than the benefit. In addition to the significant support backing American entrepreneurs, the government also assists by regulating small businesses less. The U.S. is an example of how a governments support of entrepreneurs is key in their success.
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Brian Begerow
2/2/2012 10:12:10 am
According to this article, an entrepreneur is someone who takes an idea for a business and makes it happen while taking financial risks. An entrepreneur needs certain attributes. Among these are creativity, confidence, persistence, and not to mention a good product and business model. In addition, Tom Ryan states that it is necessary for an entrepreneur to work along side people who can make it all come together. The United States is the home to more entrepreneurs than any other place in the world. This is largely attributed to the attitude towards failure. In the US a failed attempt at a business is seen as a learning experience, whereas in other countries it is looked at in a more negative fashion. As a result, American entrepreneurs are more likely to gain a second chance. Another reason for this is the financial aspect. In other countries, according to the article, if an entrepreneur's business fails, it will be much more difficult for them to receive starting money for a second chance at success. With all these advantages in mind, the US government also helps entrepreneurs by not regulating small businesses to the extent that European countries do. Julie Meyer suggests that European governments cut taxes on small businesses in order to promote growth and give incentive to entrepreneurship. If I knew what the next big idea was, I would put it to work instead of posting it to this blog.
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Maddie Conover
2/2/2012 10:53:16 am
An entrepreneur is a person who organizes and operates a business or businesses. The article "What Drives US Entrepreneurship?" by Will Smale depicts an entrepreneur as a person with ambition, new ideas, and the right surroundings. Smale questions whether entrepreneurs are born or bred by showcasing American entrepreneurs and comparing the entrepreneurial spirit of the US to that of European countries. Smale argues that entrepreneurship in the US is different than other parts of the world not because people from other countries don't have fresh ideas but, have a lack of financials and cultures that don't support it. In the US it is relatively easy to borrow money for business ventures and there are few regulations. This is different in places like the United Kingdom. Also, as stated in the article, the US has a willingness for failure that is unprecedented; this is the cultural side of American entrepreneurship. It can be argued that if governments want to support entrepreneurship in their countries, they can replicate the US' financial policies in favor of lower taxes for small businesses: so more of their citizens will be willing to try their hand in business. The next big idea could be anything from a robe you wear backwards to a new social networking site. As long as capitalism reins, there will never be an end in the new ways people try to make million.
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Faith Cramer
2/2/2012 01:36:10 pm
An entrepreneur is someone who is driven to pursue a new product or buisness. Entrepreneurs thrive in locations with low penalties for failure and where the education for starting their patents and business can be found easily. In addition they have strong characteristics like determination, drive, focus, and hope. In other countries small businesses have higher risks if their business plan fails, banks will be unwilling to loan out money to the individual who has already taken out out loans for failed business ventures. The goverment can best facilitate education for young entrepreneurs by giving basic accounting classes to high school students as a standard. Understanding how a budget works and what items are liabilities and which will bring you profit in the long run will also help american's manage their pocket books. The lack of financial education inhibits our ability to write business plans or proposals for loans. My guess is that new items for survival will be on the market with the end of the world coming up sometime this year. The next product however will need to have demand in multiple communities to expand to a multi-national branch.
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Kevin Churchill
2/3/2012 06:12:56 am
An entrepreneur is someone who has a vision for a new product or business, and through self-determination makes their product a reality. Will Smale's article "What Drives US Entrepreneurship?" takes an economic view of how entrepreneurs get started. Smale contends that entrepreneurship is entirely different in Europe and the US. It is important to understand the cultural differences, as European culture does much less to encourage bold dreams and wants, while the US is founded upon the idea of "the American dream." Such stark cultural differences lead to an entirely disproportional amount of entrepreneurs, and thus worse conditions for entrepreneurs in Europe. The US has an unparallelled tolerance for failure, a quality that cannot be found in any other nation. Logistically, it is also much easier to get a loan in the US than most European countries. To facilitate a vibrant entrepreneurial class, a government must take several measures to protect small business. For example, a government that has a low tax rate for small businesses is much more likely to generate entrepreneurs than a government with a high tax on small business. The next big product will likely be related to radioactivity, due to the possibility of Iran using nuclear weaponry in the near future.
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Lydia Erickson
2/5/2012 01:07:12 pm
An entrepreneur is someone who transforms an business idea into a reality. An entrepreneur primarily needs creativity. In order to maintain their creative idea they need a solid business model and good employees. However there is also a mentality that contributes to their success. They need to be willing to take risks and make changes in order to compete with other similar businesses. Most importantly they need to have hope that their product will generate success. The US is founded on the idea that everyone should be able to pursue their happiness. Business is often seen as a means to attain that happiness. There are so many businesses that it doesn't have to be intimidating to develop an idea into a business, because there have been thousands of failures and successes. The mentality in European countries is that they will take care of you when you fail, whereas in the US people are nurtured into the belief that they can greatly contribute to society with their ideas. There is also much better financial opportunity in the US than other countries. Loans are given out more easily. And the regulations around businesses and products are much less strict. There will be thousands of new ideas for business models, but as for the way entrepreneurship exists in the US, it seems to be giving people the opportunity to try what they want as entrepreneurs.
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Goof.. In the article, "What drives US Entrepreneurship?" the author Will Smale describes an entrepreneur as someone who takes finiacial risks to be successful in business. Some of the attributes entrepreneurs need in order to be successful include, connections, rational thinking, and marketing skills. I believe another big thing that will help you in being a better entrepreneur, is creativity. The US has always pushed people into following their dreams and gives citizens support in order for them to reach their goals. Like it was said in the article the US has more tolerance to failure because it is easier to get right back up in the business world. This isn't so much the case in Europe, it is more difficult to borrow money the next time around. I think any cultures entrepreneurial class can be changed for the better through both financial and moral support. I'm glad I live in a Country who pushes you into following your dreams, maybe other countries will pick up our attributes.
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Kristina Ericson
2/9/2012 10:56:09 am
The Webster-Merriam Dictionary defines an 'entrepeneur' as "a person who organizes and manages any enterprise, especially a business, usually with considerable initiative and risk." Simply, an entrepeneur is a person with a passion for buisness and control, and are willing to take the risks needed to be successful. An entrepeneur needs a level-head, a passion for his buisness and ideas, and a creative, unique, way of achieving his goals. The U.S. approaches the ideas of entrepeneuralship and buisness more radically and with more conviction than many of the world's countries. This is largely due to the U.S.'s negative attitude towards failure. In many countries around the world, a failing buisness would be seen as a economic, life-altering, experience, whereas failing American buisnesses are viewed as powerful learning experiences, and there are numerous positive steps on the road to financial recovery that can be taken right away. One way that the United States government seeks to referee the ever-changing and constantly altering society is by not allowing federal control over small buisnesses, like many European countries do. As with the next big idea, no one will ever know what is really coming next. New products and ideas flood the airwaves and conversations every single day, and it's impossible to approach each and every one. As long as Americans keep their entrepeneural spirit, new 'big ideas' will continue to blossom and grow.
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Emily Griffin
2/9/2012 01:10:23 pm
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Alec Fetzer
2/9/2012 02:13:55 pm
Based on the article, “What Drives US Entrepreneurship?” an entrepreneur is one manages an enterprise, by turning an idea into a successful business or product. For many entrepreneurs, nothing is handed to them and must be persistent, creative, and willing to take risks in order to be successful. America is the “land of opportunity,” and anyone has a chance to have to next big idea. With that in mind, Americans aren’t afraid of failure, and use it as a learning experience because their next idea could be the next In-N-Out, for example. While in other countries, one failed attempt at a small business may cause an individual to simply give up on their aspirations. I think the government does a respectable job at giving entrepreneurs the resources needed to be successful in the United States, as they should with our history of successful entrepreneurs compared to the rest of the world. Finally, with all the success through entrepreneurship, the next big idea has endless possibilities; it will probably have something to do with cats though, since they seem to be so popular on the Internet.
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Alec Faulkner
2/9/2012 02:26:17 pm
An entrepreneur is a person that creates a product to supply the demand to the consumer and generate profit. An entrepreneur expands his business to make it successful as possible. Some attributes an entrepreneur needs are good communication skills to be able to expand. They need to be motivated and persistant and willing to take risks to be able to keep their business running and become successful. Entrepreneur's need to be educated, to be able to make smart business decisions to generate as much profit as possible. Entrepreneurship in U.S. is more difficult to be successful at than other parts of the world; we have one of the biggest economy's which means lots of competition. Because of all the competition all businesses not generating profit will collapse and be replaced with a successful business. It is different from other parts of the world because our government stays out of small business, however in Europe the government lowers taxes on small business to create incentive to become entrepreneur. To create a more vibrant entrepreneurial class the government could lower taxes on small business like in Europe to make people want to become successful entrepreneur's. I don't know what next big thing will be but if i did i would sell my idea for 1 billion $ to a successful entrepreneur because i wouldn't be able to expand it myself.
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Jacob Gallagher
2/10/2012 05:26:06 am
An entrepreneur is a creator of a product that drives a company. An entrepreneur needs attributes to himself in order to manage his/her company successfully, without these things you will not be a successful entrepreneur. Speech and or communication skills help manage a business as well as manage workers and set up payroll. Creativity aslo boosts a entrepreneurs ability to manage a company without losing buyers because your ideas are outdated. Something that is not totally needed, but helps a bunchload to start a business, can be a large some of money; this helps you hire more workers to start out your company and expand faster. Unlike many countries, the U.S. many consider "the land of oppertunities" if theres a chance to make it anywhere, its America. To start a entreprenuership in India compared to America, you would need a highly respected name and a lot of money. The great part about the U.S. is your name doesnt matter a whole lot if you have the work ethic and the intelligence to succeed. Passion can be highly looked down upon in third world countries if you come from a poor family. For entreprenuership to continue in the states, the government has to do there part to keep it alive. Making a safer enviornment to create jobs in the workplace would help thrive a dieing population of thoughtless leaders. Personally I wouldn't help anyone too significantly to the point where I am doing all the work to keep their business alive. I don't believe the next great business will arrive anytime soon thanks to our economy, but when/if the economy ever heals and we get out of this trillion dollar debt, the next great entrepreneur will be just around the corner and ready to create the next great household product.
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Jesus Lopez
2/10/2012 09:28:15 am
An entrepreneur is someone who organizes and operates a business, and makes a financial risk to do so. What an entrepreneur needs to be successful is creativity, great communication skills, and to be willing to take risks and expand. entrepreneurship is different in the United States compared to the rest of the world because in the US entrepreneurs are a little bit more successful because they are willing to make big risks. People are more likely to be given more chances in the US, so it isn't a big deal if they screw up. In European countries, screwing up isn't tolerated as it is in the US, so they would rather be stable and not risk anything. The US views failure a little bit less harshly, because most people just shake it off, learn from their mistakes, and continue. What government's can do to support entrepreneurs is to cut taxes on small businesses and accept failures and give entrepreneurs a second chance. I believe that there won't be a big idea coming anytime soon, it seems to me that almost everything has been invented already.
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Brionna Gonzalez
2/12/2012 06:23:16 am
In this article, An enrtrepreneur is someone who has a small business and makes financial risks to make it a larger corporation. Someone who wants to be an entrepenuer needs to be creative to be able to make their business better. They need to have good communication skills because they can't do it alone. Its different in the United States because taking the financial risks in other countries are alot higher and here we are encouraged to be creative and not give up. Here there are so many that may be successful or those who may fail so risking a new business isnt as risky as it is in other countries. The government could lower taxes for small businesses and give them a second chance and notice how hard people work to make their business successful. I dont think that there is any just one new big idea because there are so many people and so many ideas that all the big ideas are already taken, people will continue to make ideas.
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Alex Dunn
2/12/2012 01:02:37 pm
An entrepreneur is simply some one who feels that they have an idea or ideas of how to make or do something better than, or more profitable than any one around them. An entrepreneur needs to be observant and creative to be successful as well being able to take a risk to see their vision come to life. In a democracy every citizen has a right to express their thoughts and making your own vision a reality is the one of the ultimate forms of freedom of speech, because one is improving upon a world that they feel needs improvement. Some governments are very constrictive when it comes to starting new businesses because it is a financial risk and a possible loss of money, as well as a form of revolt to the governments all ready set up country. In the US the government is more open to the common citizen's ideas even if they have no background. In any civilization people will have new ideas of how to make improvements, the only thing a government can do to promote new ideas is be open to improvements and give every idea a chance to survive and possibly thrive. I believe that if a government has some problems and flaws but keeps an open mind, it will promote ideas of how to fix problems and make money. The next big idea is already here but some one just need to figure it out.
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Omar Garcia
2/14/2012 10:00:20 am
An entrepreneur is someone who takes financial risks to organize a businesses, a promoter in the entertainment industry. An entrepreneur needs to realize the risk of their new invention or product, but they cannot be scared. If the "risk" is on top of their mind then they will not be successful. They also have to have a motto that they go by, usually its a general motto but in a mixed up order, kinda like "ready, fire, aim".
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Peter Del Bondio
2/18/2012 04:46:37 am
GOOF…
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