American Entrepreneurs Late to the Global Economy

Unlike small business owners in other parts of the world, U.S. entrepreneurs do not tend to think globally about potential markets for their businesses.

The United States International Trade Commission (USITC) reports that while 31 percent of exports from the European Union are generated by small and medium enterprises, only 13 percent of U.S. exports come from small and medium businesses.  And another government report reveals that only 1% of U.S. small businesses engage in exporting.  Continue reading American Entrepreneurs Late to the Global Economy

Sweet Success

It began as unlikely partnership in the fall of 2010.  Jonathan was a sophomore Entrepreneurship major at Belmont University.  James was a senior Marketing major at Lipscomb University.  Both students were members of the tennis teams of the two arch rival universities, which at that time were still in the same conference.

But, Jonathan and James shared a common idea to start an online grocery store for college students. The idea was to provide college students a convenient and affordable alternative to on-campus convenience stores.  They would sell snacks directly to college students and also to their parents bundled up in care packages.

Jonathan and James also have one other thing in common – they are brothers. Continue reading Sweet Success

Just Because Nobody is Doing it is not a Reason to Launch

“I’ve got a great idea for a business.  I know it will work because nobody is doing it!  I need to move quickly before someone else does it first.”

As someone who works with entrepreneurs for a living and hears a lot of business ideas, this type of business pitch puts up a big red flag for me.

Just because nobody has started a particular type of business is by no means an indication that the market needs that type of business. Continue reading Just Because Nobody is Doing it is not a Reason to Launch