Tag: Entrepreneurship

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Movie theaters are going bankrupt around the country. Say what you will about tone-deaf Hollywood. This isn’t a result of clueless executives and film makers. The industry isn’t self-destructing. Politicians and journalists are killing it with pandemic precautions unbalanced with any other concerns. What will happen to all the closed theaters? They will remain unoccupied. […]

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How Washington Can Boost American Entrepreneurship

 

Entrepreneurs play a critical role in the American economy. The new businesses they launch provide new goods and services. They also provide existing goods and services more efficiently, forcing incumbents to do a better job through competition. And while most media attention seems devoted to potentially high-impact technology startups, regular “mom and pop” businesses can be important mechanisms for upward mobility. We want a dynamic economy where labor and capital can be employed as productively as possible. Entrepreneurship plays a big role in making that happen.

It remains to be seen how entrepreneurs navigate the post-pandemic economy. But before the coronavirus outbreak, there were several disturbing long-term trends about America’s startup superpower. Among them: New businesses have become a smaller share of all companies than they used to be, as well as their share of total employment. These trends are illustrated in “Federal Policies in Response to Declining Entrepreneurship,” a new Congressional Budget Office report on the subject:

Bryan Sharpe, known online as “Hotep Jesus,” and a tech entrepreneur, author and podcaster, joins Carol Roth to talk culture, entrepreneurship and technology. Carol uncovers Bryan’s entrepreneurship origin story from cologne spritzing to his current work in AI and blockchain endeavors. Bryan and Carol give some great advice on marketing and being a successful entrepreneur and explore the ethical implications of Artificial Intelligence. 

Plus, a “Now You Know” segment on W. E. B. Du Bois.

Exavier Pope is a tremendous success, but you may not have guessed that he went from foster care to living on the streets to eventually media personality, serial entrepreneur, attorney, business and legal analyst, Fortune 500 speaker, content creator, writer, tastemaker, licensed yoga instructor— and the best dressed man on TV. 

Exavier joins Carol Roth to talk about his stories, his struggles and his “4 P’s” for success. He shares how anyone can make a bigger difference and overcome even the worst situations and why thinking you are “special” can actually be an asset. Plus, he shares thoughts on mentoring and helping the youth who are in bad situations through no fault of their own.

You asked the questions and Carol Roth answered them! From investing and business to politics to personal, Carol answered your serious—and not so serious—questions. Plus, “Now You Know” trivia from ancient Rome.

How are small businesses doing in the current economy? How do you find a professional mentor or use content to build your business? How do you deal with depression as an entrepreneur or professional? Ramon Ray, Founder, Smart Hustle Media and Entrepreneur-in-Residence at Alice joins Carol to talk about all things small business and entrepreneurship.

Ramon Ray has started four companies and sold two of them. He’s the author of four books, including his latest, Celebrity CEO.

Member Post

 

While winding down before Christmas celebrations begin in earnest, I have been playing a park simulator. Jurassic World: Evolution is among this month’s “free” games on Xbox Live. It’s basically like designing and operating a zoo, only the exhibits are more likely to break free and eat the guests. After learning the ropes at the […]

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Serial entrepreneur Paul Shrater returns to moderate a discussion with Carol Roth on the future of entrepreneurship. Paul and Carol talk about the shifts in entrepreneurship and marketing, future growth industries and address the issues with Universal Basic Income (UBI) as a platform.

Paul’s businesses include Minimus.biz, Minimus fulfillment and Minimus brands, and his clients range from major celebrities to NASA. He even manages the fulfillment for Carol’s Future File® legacy planning system.

Johns Hopkins’s Blooming Ideas

 

http://welcometobaltimorehon.com/images/johnshopkins.jpgJohns Hopkins was born on this day, May 19, 1795. A Marylander, his Quaker parents lived out their religious beliefs by freeing their slaves. This cost them greatly and led them to put their son into their tobacco fields at age 12, ending his formal education. Yet, Johns Hopkins not only overcame the economic disadvantages imposed on him by his parents, but also overcame the natural human impulse to hate the “other,” the people with darker skin who society and his personal experience would tell him to blame. From a poor start in his parents’ tobacco fields, after transplantation to the merchantile field, Johns Hopkins blossomed into a business leader, then grew other businesses through investment, finally creating seedbeds from which amazing new ideas bloomed.

Johns Hopkins started life with a very unusual first name. As Johns Hopkins Medicine explains:

Johns Hopkins’ peculiar first name was simply a family affair; it had been his great-grandmother’s maiden name.

Carol Roth is a recovering investment banker, entrepreneur and author of The Entrepreneur Equation, the anti-motivational, motivational book about entrepreneurship and a realistic take on starting a small business. She and Bridget discuss the factor that jealousy plays in the tragic loss of the American Dream, being spoiled and ungrateful in a capitalist society, the math and ROI of going to college, and the danger in allowing political correctness to rob us of using laughter as a healing method. Carol talks about how she kept moving forward in the wake of a series of devastating personal losses, her approach to a successful marriage, her horror of emojis, how to combat imposter syndrome and tips on overcoming procrastination. Also, don’t miss Bridget’s unscientific theory that the reason women are more detail oriented than men comes from our hunter gatherer days and her plans for faking her own death. Check out Carol’s podcast, also on Ricochet, here: The Roth Effect with Carol Roth.

Everyday Hero

 

When a young man has a calling to step up and help others, without pressure or financial reward, he should be recognized and lauded. I want to celebrate Rodney Smith. He serves as a model of selflessness by helping others, just because he can.

Rodney’s journey to help others began in the fall of 2015 when he saw a senior citizen struggling to mow his lawn:

When Smith got out of his car and helped the man finish his yard, he decided to start the organization [Raising Men Lawn Care Service] in his hometown — Huntsville, Alabama. Now, 137 kids in the United States, and a few others abroad, are mowing lawns in their communities, Smith told CBS News.

My Job: Not Helping Homeless People

 

I’ve been listening to the Ricochet podcast for a couple years, am a big fan, and have for awhile wanted to lend my voice to this conversation—partly because of the field in which I work, which some may describe as “social justice.”

I joined the site today and want to open with this background.

This week on Banter, Ed Glaeser explained how entrepreneurship helps America’s cities to thrive as well as options to make housing in these prosperous cities more affordable. Glaeser, a senior fellow at the Manhattan Institute, is the Fred and Eleanor Glimp Professor of Economics in the Faculty of Arts and Sciences at Harvard University where he teaches microeconomic theory and urban and public economics. His research focuses on determinants of city growth and the role of cities as centers of idea transmission. Glaeser participated in the sixth annual AEI and CRN conference on housing risk. The link below will take you to the full event video.

Learn More:

Has America Really Lost Its Capitalist Mojo?

 

081116FTstartupsIf you’re worried America is no longer great — excluding US Olympic prowess, of course — the above chart might neatly encapsulate those concerns. Looks like the Startup Nation is in the midst of an entrepreneurial crisis. Since the late 1970s, startups as a share of all firms have fallen by more than half, while the share of workers employed at new firms has fallen by three fourths.

This seems troubling on two levels. First, entrepreneurship of all kinds can provide employment and upward mobility. Second, high-growth or “transformational” startups are big drivers of high-wage job creation, innovation, and competition. As the Financial Times (source of the above chart) recently put it: “The suggestion that the US has a problem in the entrepreneurship department has come as a jolt for a country that prides itself in the red-blooded capitalist spirit that spawned the likes of Henry Ford, Ray Kroc and Steve Jobs.”

Theories to explain this chart include (a) the rise of big box retailers in the 1980s and 1990s, (b) a growing cronyist, regulatory state that favors big incumbent firms, and (c) access to capital, whether due to tougher post-financial crisis lending standards, the decline in housing wealth, or 80% of venture capital being concentrated in just a few states.

Is the US Really Just the 41st Most Entrepreneurial Nation in the World?

 

twenty20_40983b68-a325-4347-8f9e-c3fb4cfa23ab_business_startup-e1465240993683Let’s say I was trying to cook up a talk about how terrible the US economy is. This could form the basis of a really good — and deceptive — one (via the World Economic Forum): “According to research by the UK-based business-networking group Approved Index, the US ranks 41st in the world for having the most entrepreneurs, who make up 4.3% of the adult population. Meanwhile, Britain ranks 37th with 4.6%.”

41st! Looks like an Entrepreneur Gap!

Even better (or worse, depending on how we look at it), the most entrepreneurial nation is Uganda, where 28% of the population are entrepreneurs. So not only is the US only 41st, we’re way behind very poor countries like Uganda, Cameron (4), Angola (6), and Botswana (8).

From Startups to Jobs, America’s Lopsided Economic Recovery

 

twenty20_0c8ba4f6-db4c-4006-b0f8-ec1a4aa7dc73_startups_office_work-e1464018155556A new report from the Economic Innovation Group, “The New Map of Economic Growth and Recovery,” examines America’s startup scarcity in the 2010s. As the report explains, “New businesses play a disproportionate role in commercializing innovations, stoking competition, and driving productivity growth. They also create the bulk of the nation’s net new jobs and provide the extra demand that is critical to achieving wage-boosting full employment.”

And the numbers are distressing. Looking at other recent recoveries, the EIG report notes the 1990s saw a net increase of nearly 421,000 business establishments, and 405,000 in the 2000s. By contrast, over the first five years of the 2010s recovery, the number of business establishments increased by only 166,500.

That’s means we’re missing more than 300,000 startups and presumably all the good stuff that would have come with them. So less growth, less dynamism, less opportunity. Policymakers need to think hard about creating a better ecology for both startups overall and the ability of entrepreneurial/transformational startups — ones with the aim of getting really big — to scale.