The paradigm has once again shifted. “Entrepreneurship has arrived. The question of whether it’s mainstream, accepted by the powerful elite, or big enough to cross US borders and thrive is no longer open to discussion. Brand U entrepreneurs are the creators of the New Economy. And everybody wants to be one,” according to Inc. Magazine.[i]
“Starting a company is like going to war,” says Audrey MacLean, Silicon Valley venture capitalist.[ii] Small business is not for the weak of heart. Up to half of small businesses don’t make it past two years.[iii] Joseph Schumpeter, the economist called the process ‘creative destruction.’ Ideas for new products and services develop, companies form, they grow, products are altered or new products are developed, and the company morphs again. This process has accelerated due to technology, smart people, and loads of funds chasing bright people with killer ideas.
[i] Hopkins, Michael, “The State of Small Business, 1997,” Inc. Magazine, June 1997, p. 12
[ii] Grover, Mary Beth, “200 Best Small Companies,” Forbes Magazine, November2, 1998, p. 184.
[iii] Unseem, Jerry, “Churn, Baby, Churn,” Inc. Magazine, June 1997, p. 12