Posted by Eric Hubbs on Wed, Mar 03, 2010 @ 06:54 PM
By Michael Gunther, Founder and President, Collaboration-LLC 
Many business owners I've worked with are often challenged by their employees not performing at the level they expect. These leaders often get frustrated that "nobody does their tasks correctly" or that their employees "aren't worth the effort." What I show them is that they can typically improve their employee performance problems by looking inward and making a few adjustments to their leadership strategies.
Leaders, if you are not receiving the outcomes you want from your employees, it's probably a good time to assess your leadership skills. It is the business owner who clearly understands and accepts both their strengths and weaknesses as leaders, and who have the drive to improve their performance, that achieves the greatest success - both in their business and in their employees' performance.
The Challenge
As a leader, you create the environment that your employees will emulate. They follow your cues in terms of performing - or not performing. Most employees I speak with actually want to do a good job and care about the success of the companies they work for, but they feel that the leaders are not providing clear direction or clear expectations about what they want accomplished. In addition, the leaders often will not let go of certain tasks or decisions that the employees feel they can handle; these leaders can sometimes be referred to as Micromanagers or Directive Autocrats.
Do either of these scenarios sound familiar?
The Micromanager: You want your employees to make decisions, but when they do, you criticize the decisions they make, correct their mistake, or take the task back. In this scenario, what you are actually telling them is that you don't trust them to make decisions, and that you're not willing to provide them the opportunity to learn from their mistakes.
The Directive Autocrat: You provide some direction on a project, but when the project is complete, it doesn't meet the outcomes you expected. You criticize the employee's performance, correct their mistake, or take the task back. In this scenario, what you are actually telling your employee is that it's not worth their time or energy to take the initiative to take on new projects.
The Solution
Both situations portray a management quandary, where leaders want better performance from their employees and employees want to perform well for the leader, yet there is disconnect between the two. And the shift has to start with the leaders. You must learn to clearly communicate your expectations and to address employees at the time mistakes are made.
Making mistakes and missing the mark on outcomes are opportunities for both employees and leaders to learn. Years ago, I had a mentor who told me that if I was not making mistakes, then I probably was not making decisions and therefore I was not learning and developing my skills. (Note that this is not the same as if an employee makes the same mistake over and over, and needs to improve their approach or skills.)
Leaders, when your employees make a mistake or are not performing at the level you desire try the leadership approach that my mentor used: ask them a few questions. How could they have approached the task differently? What did they learn from their decision? How could you, as the leader, provide clearer expectations of the desired outcome? The answers to these questions will help you ascertain what was missing in the process (communications, skills, or strategy) and ultimately what prevented the intended outcome from being achieved.
The Bottom Line
Want your team to perform at the levels you desire? Then adjust your leadership style by setting clear expectations and if they are not met, use the opportunity to ask questions and learn what you or your employee can do differently to achieve different results. Building a strong team takes patience, persistence, and clear communication.
Is there a topic that you would like Michael to discuss? If so, email him at MGunther@collaboration-llc.com or call (805) 541-9040 to let him know.
Michael Gunther is Founder and President of Collaboration LLC, a team of highly skilled business professionals who are dedicated to assisting proactive business owners to build profitable, sustainable businesses through results-oriented education, coaching, and consulting services. Learn more at www.collaboration-llc.com.
Posted by Beth Fillerup on Thu, Feb 18, 2010 @ 05:58 PM
You have probably heard some variation of the quotes: "Life is what happens when we are busy making other plans" or "Life is a journey, not a destination." In my own life, I often find myself focused on "making other plans" and trying to reach my next "destination," working so hard in my business that I lose focus on the journey. Unfortunately, sometimes it takes a shock to the system to remind us that life is indeed a journey and that we need to enjoy every bit of it.
Sadly, I recently received one of those shocks. One of my sisters, Rose, died suddenly of a heart attack last month at the age of 57. An event like this makes you reevaluate your own life and rethink your priorities. It also shows you how quickly life can change and to make sure you are enjoying the journey along the way.
I have reflected a lot on my life over the last month and have concluded a couple of things. I feel fortunate to do the work I do - helping people achieve their business and personal goals and dreams is very rewarding; however, my life balance is lacking the attention it deserves.
Over 700 people attended my sister's funeral; it was clear that she had influenced so many in her circle of friends, family, and community, on so many levels. In addition, she maintained a healthy life balance of raising four kids, hiking in the Sierra Nevada (including Mount Whitney two years ago), educating hundreds of children, and working with the State and National Park Service to replant native species. It was apparent that she had recognized and truly appreciated her life journey.
Seeing Rose's journey so clearly and in stark contrast to my own, I realized that I and many other business owners I know are so busy "making other plans" and "reaching our destination" that we are not taking time to enjoy the journey. We believe that by working so hard, we will have more freedom and flexibility as we meet our future goals. In reality, we become one-dimensional: slaving away with less freedom while life passes us by.
I have started and encourage you to take time each week to plan - and calendar - what you are going to do for yourself. What activities will you participate in? What individuals will you spend more time with? Better yet, create a goal list of the top 10 items that you want to achieve in your life or that you want to begin working on.
My sister Rose will be remembered by many, including myself, for her positive influence and for the impact she had on our lives. I also have a little piece of her that I will carry with me through life - inspiration. I will use her inspiration to redirect and enjoy my current journey; not just always work toward a future goal or dream.
The Bottom Line
Life is short. Take time to assess whether you are living the life you want TODAY. I am a believer that through hard work we can achieve anything, and if we focus some of our hard work toward a sustainable life balance, we can get just that. Every week, make a point to plan and calendar time to maintain your life balance. I have to go now - I'm planting my spring garden. Thank you Rose.
Do you have life goals you'd like to share? If so, leave us a comment on our blog or email Michael at MGunther@collaboration-llc.com. Your goals will be featured in an upcoming blog or Facebook posting.
Michael Gunther is Founder and President of Collaboration LLC, a team of highly skilled business professionals who are dedicated to assisting proactive business owners to build profitable, sustainable businesses through results-oriented education, coaching, and consulting services. Learn more at www.collaboration-llc.com.
Posted by Beth Fillerup on Thu, Feb 04, 2010 @ 04:56 PM
The Entrepreneurial Couple - these are individuals that are married, significant others, life partners, etc. who have elected not only to spend their lives together but also create a business together. At first it makes sense - two smart people, a great idea, working with someone you trust to take charge of your destiny. But along with these benefits come unique challenges and even additional pressure on the relationship due to poor communication, unresolved conflicts, reliance on the business to financially support both individuals, and no separation between work and home.
While I have seen many couples make this transition successfully, I have seen a greater number fail. The individuals that succeed do so by clearly defining what they expect from one another in both the business and personal relationships, avoiding undue stress and creating a true partnership. The following are seven topics that I have noticed are most important for discussion and agreement.
1. Roles and Responsibilities. Identify clear roles, responsibilities, and expectations - just as you would with any employee. Without clear roles, individual duties get blurred. This can lead to each person thinking the other is handling an item, which can lead to tasks not being completed, which leads to the blame game.
2. Decisions. Determine a process for making decisions from the get-go. Focus particularly on how disagreements will be handled. What happens if one partner wants to go in a direction that the other partner vehemently opposes?
3. Needs and Values. Come to an understanding on what each person's needs and values are in both the personal and business relationships. Often, the personal relationship is about security, connectedness, and equality; this relationship tends to be full of emotion. On the other hand, the business relationship is more about risk, equitability, and competition; this relationship leans more toward rationality. Each person needs to understand how the other views these differences, and then together you can come up with a game plan on how to honor these views.
4. Separation of Work from Home. Create parameters about topics that should stay at the office. Couples working together often see their home and work life blend together to the point where they feel they are always working and have lost aspects of their personal life and relationship. One couple that I've worked with uses the rule that from 6:00 PM until 8:00 AM the next morning they cannot talk about business.
5. Personal Independence. Identify and develop some independent activities, hobbies, or friendships. This allows each of you to maintain a sense of individual identity and to also bring new perspectives and insights into the relationship.
6. Finances. Establish clear budgets for both the business and your household. It is crucial that you manage both budgets well since you rely on one business to support a household of two (or more). Most importantly, business financial decisions that may impact your personal household finances should be made jointly.
7. Assistance. Get an outside advisor or coach. It is imperative to have someone you trust advising you on the dynamics that arise from sharing a business and personal relationship. Having an impartial third party can help prevent differing opinions from becoming major conflicts that can negatively impact your relationship.
Entrepreneurial couples can create an unstoppable team if they have a strong, trusting foundation, but without good communication skills and clear expectations or parameters these relationships may also hinder a business's growth and prosperity.
Bottom Line
If you are an entrepreneurial couple, you probably desire business success, family harmony, and personal well-being. Unfortunately, entrepreneurial partnerships may have a hard time achieving these three things and may under-perform due to unresolved conflicts and ambiguity about roles. Together as partners, I encourage you to take time to evaluate how you are truly performing as a team. Create a game plan, write down your resolutions, and make a contract with one another using the above seven topics as a guideline.
Is there a topic that you would like Michael to discuss? If so, email him at MGunther@collaboration-llc.com or call (805) 541-9040 to let him know.
Michael Gunther is Founder and President of Collaboration LLC, a team of highly skilled business professionals who are dedicated to assisting proactive business owners to build profitable, sustainable businesses through results-oriented education, coaching, and consulting services. Learn more at www.collaboration-llc.com.
Posted by Beth Fillerup on Thu, Jan 14, 2010 @ 04:51 PM
2009 will go down as one of the worst economic years since the Great Depression. And yet, life and business goes on. As we start a new year as well as a new decade, it is up to each of us to focus on the opportunities and attitudes that will allow us, and our businesses, to thrive in 2010.
Let's start by looking at some of the opportunities available to us in the coming year:
Less competition. Many businesses have had to shut their doors this year, bringing the "survival of the fittest" into play. Fewer competitors mean larger market share for the businesses that were able to survive.
New services or products. With the changing buying behaviors of consumers and businesses alike, we have the opportunity to redesign or create new products or service offerings to meet the demands of the market.
Abundance of talent. It's unfortunate that high unemployment will most likely continue this year, but it does provide us with the great opportunity to pick and choose from the abundance of talented individuals who are looking for jobs and add them to our teams.
Sluggish Economy. Yes, I see this challenge as an opportunity. The economy is expected to be sluggish at best this year, and credit will be even tighter. This presents a chance to continue sharpening our leadership skills, become more determined and intent on growing our businesses, and become better stewards of our finances, taking our businesses to new heights. It is often adversity and difficult times that bring the greatest growth.
In terms of attitude, I think Chuck Swindoll puts it best. I got his quote from a restaurant in Charleston, South Carolina many years ago. The restaurant gave it out to all patrons and, not coincidentally, the employees all had great attitudes.
"The longer I live, the more I realize the impact of attitude on life. Attitude, to me, is more important than education, than money, than circumstances, than failures, than success, than what other people think or say or do. It is more important than appearance, giftedness, or skill. It will make or break a company... a church... a home. The remarkable thing is we have a choice everyday regarding the attitude we embrace for that day. We cannot change our past... we cannot change the fact that people act in a certain way. We cannot change the inevitable. The only thing we can do is play on the one string we have, and that is our attitude... I am convinced that life is 10% what happens to me and 90% how I react to it. And so it is with you... we are in charge of our ATTITUDES."
The Bottom Line
As a business owner, to thrive in 2010 will require you to be mindful of all the opportunities presented to you, as well as to maintain a positive attitude no matter the challenges that you face. We know this is going to be another up and down year for businesses, and we also know that, much like in 2009, the businesses that are going to succeed are those where the leaders show true leadership.
Is there a topic that you would like Michael to discuss? If so, email him at mgunther@collaboration-llc.com or call (805) 541-9040 to let him know.
Michael Gunther is Founder and President of Collaboration LLC, a team of highly skilled business professionals who are dedicated to assisting proactive business owners to build profitable, sustainable businesses through results-oriented education, coaching, and consulting services. Learn more at www.collaboration-llc.com.
Posted by Beth Fillerup on Thu, Jan 14, 2010 @ 04:05 PM
Entrepreneurs, take no
te: The Kauffman Foundation has built a website specifically for you. At www.BuildAStrongerAmerica.com, you can join the entrepreneur movement intended to make your voice heard in Washington. The intent of the movement is to level the playing field for startups, promoting health care reform, better access to credit, payroll tax cuts (to create and save jobs), tax reform, and "Entrepreneur's Visas" (to enable non-U.S. native college and university graduates to create new jobs now). Kauffman endeavors to educate government officials about the important role entrepreneurs play in our economy.
Join today and share your story, view other's stories, keep track of the number of jobs created because of you - the entrepreneur - or sign up to receive weekly updates. You can also find Build a Stronger America on Facebook and Twitter.
Posted by Beth Fillerup on Mon, Dec 28, 2009 @ 11:29 PM
By
Michael Gunther, President and Founder,
Collaboration LLC
We've all heard over and over again about the importance of exercising and eating healthy, specifically for reducing stress and maintaining overall health. And although I've heard it repeatedly, it was not until recently that I experienced the benefits first hand. It's not that I have ever been a gym rat or even very athletic - in fact, I have gone through many ups and downs with my exercise routines and eating habits. But this last year, I decided to change all that. I needed an outlet for my stress.
You know the stress I'm referring to - all the demands of running a business. The stress of never seeming to have enough time to do the things you want or even need to do for your business. The stress from not knowing if you can get the credit you need to grow your business. The stress of realizing your sales engine has to remain on full all year long just to sustain your revenue levels from previous years. The stress of having to make tough financial business decisions that will impact other people's lives.
Okay, so you get my point. As business owners, there's a lot that we can stress over.
While stress can be a big motivator for some people, I discovered that too much stress actually makes me a less effective leader and business owner. Mid-way through this last year, I knew that I had to make some changes to my lifestyle in order to be more effective in business. I decided to try living a healthy lifestyle and started focusing on a regular exercise routine and healthy eating regimen. The results? Great enough for me to encourage you - if you're feeling stressed - to try it out.
My new healthy lifestyle has allowed me to not only shed some extra pounds but also to focus on growing my business and achieving my goals in a positive and productive manner. Here are the details of what transpired:
Reduced Stress:
Beyond the physical benefits my new healthy routines have rewarded me, I have been amazed at how my stress levels have tremendously reduced. I can't stress enough (yes, pun intended) how this has positively enriched every aspect of my day. I have a clearer mind on how to deal with issues that arise within my business.
Improved Productivity:
As business owners, we have a lot of demands placed on our time. From personal experience, I can tell you that it is imperative to find ways to release the stress that results from these demands. On days that I don't exercise, I feel less balanced and prepared to face the day. When I do exercise, I notice that I have increased energy towards projects and my time is spent more productively.
Oh, and Less Weight:
There are two pictures in my column today. In the new picture (far right), I am actually more than 25 pounds lighter than I was when I took the old picture (far left). And because of all the other benefits living healthier has rewarded me, taking the weight off has been a real benefit - both literally and figuratively.
The Bottom Line
As business owners, our list of tasks will always exist and there will always be tasks to fill our day (and more). Make the commitment and the time to live a healthy lifestyle; you will find your time is spent more effectively and in higher spirits. Start making time for your health today - both you and your business will feel the benefits.
Do you have a plan to make a health shift this year? Leave us a comment about what you plan to do to reduce your stress/ start a healthy lifestyle.
Michael Gunther is Founder and President of Collaboration LLC, a team of highly skilled business professionals who are dedicated to assisting proactive business owners to build profitable, sustainable businesses through results-oriented education, coaching, and consulting services. Learn more at www.collaboration-llc.com.
Posted by Eric Hubbs on Tue, Dec 15, 2009 @ 12:12 PM
By Michael Gunther, President and Founder, Collaboration LLC
My friend Rob Garcia, a financial planner, suggested to me that as we approach the end of the year, many business owners might appreciate an article on how to perform a Stress Test on their business to determine if they are prepared to excel in 2010.
The more I thought about it, the more I realized Rob's idea had merit. People often have Stress Tests performed to determine their health status; good financial planners perform annual Stress Tests on their clients' investment portfolios; and even Bankers have endured Stress Tests this last year to determine their viability in continuing operations. Why wouldn't a business owner want to better understand their business' health as well?
What is a Business Stress Test, why and when should you perform one? A Business Stress Test is an assessment or evaluation of your business that helps determine if you are prepared to succeed and thrive. As part of your annual planning process, it provides you insight to even the most challenging situations, allowing you to project both worst- and best-case scenarios. As you wrap up your year and formulate plans for 2010, now is the ideal time to perform this straightforward (yet telling) analysis.
To conduct a Stress Test on your business, ask yourself these key questions about the coming year:
- If our sales decline by 10%, 20%, or more, what will we do to be profitable?
- If we lose our top three clients, what plan do we have in place to generate new key clients?
- If our ability to obtain additional credit remains bleak, how will we finance our business?
- If we lose our top two employees, how will we manage their roles and find their replacements?
- If new competitors enter the marketplace, how will we respond?
- If our competitors lower their prices in order to gain market share, how will that impact our sales and revenue?
- If interest rates rise, how will we handle the increased costs on our loans and credit cards?
- If I take a vacation, how will our business continue generating revenue and operating when I am not present?
- If unemployment continues an uphill climb and consumer spending continues to decline, how will that impact our business?
Next, ask yourself the same questions in regards to positive business growth, e.g.:
- If our sales grow by 10%, 20%, or more, are we prepared to handle that growth?
- If we find three more potential top clients, how will we entice them to purchase from our firm?
- Etc.
These "what if" questions are not intended to induce anxiety, but rather to guide you as you assess your company's landscape. Predicting conclusions to these scenarios will help you prepare to successfully build your business even if these situations arise, helping you be proactive rather than reactive in your business. By being proactive you will be able to respond promptly, making educated decisions because you have already evaluated your options.
The Bottom Line
Thorough planning and preparation are critical components to building a sustainable and profitable business. By taking a half day to prepare your 2010 Business Stress Test, you will be developing a key component of your overall action plan, preparing your business to thrive in the coming year.
Is there a topic that you would like Michael to discuss? If so, email him at mgunther@collaboration-llc.com or call (805) 541-9040 to let him know.
Michael Gunther is Founder and President of Collaboration LLC, a team of highly skilled business professionals who are dedicated to assisting proactive business owners to build profitable, sustainable businesses through results-oriented education, coaching, and consulting services. Learn more at www.collaboration-llc.com.
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Posted by Eric Hubbs on Tue, Nov 24, 2009 @ 08:51 PM
By Michael Gunther, President and Founder, Collaboration LLC
What a year this has been!
We've seen ups and downs in the ever-changing economy, challenges in growing businesses during the Great Recession, and impacts on our communities from both the housing and unemployment crises. The list of ups and downs could go on; but the list of things to be thankful for should be even longer - and can be the list that shapes our attitudes as we approach a new year.
This Thanksgiving I encourage you to take a few moments and acknowledge the individuals and situations that have assisted you in achieving your goals this year. I would like to share my list:
- The Economy - no, I'm not thankful that we are experiencing the existing economic situation, but I am grateful for the associated challenges that have made me and others better business people. We have had to go back to the basics of earning business. We have had to be innovative in creating new approaches, services, products, etc. We have had to work hard to pare down our debts and expenses. I'm grateful that these economic times have allowed businesses to rethink and reenergize their organizations to first survive and then to thrive.
- The Community - it is amazing how in a crisis people band together. We are fortunate that we live in a community that relies heavily on small businesses, because our needs have created many organizations and individuals dedicated to supporting the success of businesses. The local Chambers of Commerce, The Economic Vitality Corp., SCORE, etc. are all focused on providing resources and tools to help local businesses succeed.
- My Team - I am fortunate to have employees and business partners who share my passion for helping businesses be profitable and sustainable. Their drive and dedication inspired me through many challenges this year and continue to motivate me to be better at what I do.
- Our Strategic Partners - at Collaboration, we have a remarkable group of professional strategic partners (from lawyers and bankers to accountants to technology firms) who not only support us but also provide support and resources to our clients.
- My Peers - if you don't have a group of other business owners that you can talk to about challenges or use as a sounding board for issues and opportunities, then you are missing a vital piece of growing your business. I am thankful for the peers that I meet with on a regular basis who help me stay grounded.
- Our Clients - I am very grateful to have the opportunity every day to assist passionate people to build their businesses. I am inspired by their commitment and determination to make their dreams a reality. Every time I work with these small business owners, I am confident our economy will grow. They truly are the backbone of our economy!
- My Family - being the 14th of 17 children has provided me a large support network. Add in my life partner, and I have the balance I need to stay focused even during the most stressful days.
Is it 
cliché that during the week of Thanksgiving I am writing a list of things that I am thankful for? Maybe. But writing this list has reminded me that no matter how large the challenges I face, I have strong connections that provide me the inspiration, motivation, balance, and grounding to support me in achieving my goals.
The Bottom Line
Writing out a list of what you are thankful for allows you to see past your challenges to what matters most. Start your list today: Who inspired you? What have you learned about yourself or your business from this Great Recession? Then, make your list the foundation for setting higher goals for your business next year.
Michael Gunther is Founder and President of Collaboration LLC, a team of highly skilled business professionals who are dedicated to assisting proactive business owners to build profitable, sustainable businesses through results-oriented education, coaching, and consulting services. Learn more at www.collaboration-llc.com.
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Posted by Eric Hubbs on Fri, Nov 20, 2009 @ 09:23 AM
We would like to welcome Certified Public Accountant Laura Krueger of Wong and Krueger as our guest blogger with her advice to business owners for preparing their 2009 taxes.If you have any questions about what she has to say, contact her!
TAX PLANNING 2009
November and December is a great time to meet with your accountant.
Use this meeting to:
- Review your company's performance year to date
- Estimate income for the rest of the year
- Establish projections for 2010.
In 2009 it's especially important to plan your tax strategy. Even so, there are exceptional challenges in doing so. Most of us have been dealing with economic and market challenges for many months now. Usual tax planning strategies of prior years may not work in this environment. In addition, we are unsure of what 2010 will mean for the health of the economy and for new tax legislation.
Inform your accountant of any changes in your business and personal life. Were you married or divorced in 2009? Did you have a child? Did your business structure change or did you have new investors? These types of changes may have a significant effect on your 2009 taxes.
Next, review the deductions you and your business took in the prior year and determine whether they will still apply to your current year situation. Take a look at new tax law and see what effect it will have - are there deductions you no longer qualify for? Are there new deductions you can take advantage of?
Following are some specific strategies to discuss with your accountant:
Net operating loss carryback: In November the president signed into law the Worker, Homeownership, and Business Assistance Act of 2009. This legislation will help companies that experience a loss to stabilize their businesses and be in a prime position when the economy enters recovery. The net operating loss carryback provision is expanded to allow companies of every size to carry back losses incurred in either 2008 or 2009 against income earned in any of the five prior years. Offsetting previously paid taxes results in a tax refund from the IRS. This provides companies with much needed cash in the near term. Take advantage of this as early in 2010 as possible.
Bonus depreciation: The stimulus bill extended the first-year 50% depreciation of the cost of new equipment purchased and put into service this year. The "bonus" is in addition to normal depreciation and deductions available under Section 179. It applies to purchases of tangible personal property used in a business. If you are planning to purchase equipment in the near-term you may want to consider completing your purchase in 2009 to take advantage of this provision.
Section 179 Depreciation Deduction: The Section 179 deduction has been increased to $250,000 for qualifying property placed in service in this year. This deduction allows you to depreciate an asset in total in 2009.
Future tax increases: Tax rates are likely to increase when the Bush tax cuts expire. The top two individual income tax rates, currently 33% and 35%, will likely roll back to their 2000 levels of 36% and 39.6%. In addition, the top capital gains rate will likely rise from 15% to 20%. If your income level places you in one of the top brackets you may consider accelerating income into the current year instead of deferring it.
Have a talk now with your accountant to set a course for managing your tax planning for 2009 and beyond.
CPA Laura Krueger can be reached by clicking here.
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Posted by Eric Hubbs on Tue, Nov 17, 2009 @ 09:36 AM
By Michael Gunther, President and Founder, Collaboration LLC
Building a Stronger Community
Small businesses are the heart of our country and are essential to building stronger communities. Think about it; America's growth has always been a result of risk takers - from our earliest pioneers risking everything they had for better lives to our recent innovators rapidly developing technology to enhance how we live, work, and play. This free, independent spirit that has driven our country forward comes from the heart of entrepreneurship.
Entrepreneurs' ambition to do something better, different, or faster than others drives them to risk their time and money, which in turn builds a stronger community by providing jobs and resources. As we work to rebuild our economy, it is essential that we celebrate the contributions of entrepreneurs and encourage others to join in.
Thanks to multiple government agencies, non-profits, and for-profit organizations that have taken the time to research statistics behind the contributions of small businesses, our society has begun to realize just how much business owners and entrepreneurs truly strengthen our communities.
For example, the U.S. Small Business Administration Office of Advocacy (2009) reports that the estimated 29.6 million small businesses in the United States employ just over half of the country's private sector workforce; hire 40% of high tech workers, such as scientists, engineers, and computer workers; include 52% home-based businesses and two percent franchises; represent 97.3% of all the exporters of goods; represent 99.7% of all employer firms; and generate a majority of the innovations that come from United States companies.
This knowledge has led to programs and education designed to help entrepreneurs get started. One of these movements, Global Entrepreneurship Week, will take place November 16-22 and will bring together millions of young people worldwide, encouraging them to embrace innovation, imagination, and creativity.
Founded in 2008, Global Entrepreneurship Week seeks to accomplish four goals:
Inspire. Introduce entrepreneurship to young people under the age of 30 who otherwise might not have considered it a career path.
Connect. Network with young people across national boundaries to discover new ideas at the intersection of cultures and disciplines.
Mentor. Enlist inspirational entrepreneurs around the world to coach and mentor the next generation of talent as they pursue their dreams.
Engage. Demonstrate to opinion leaders and policymakers how entrepreneurship is central to a nation's economic health and culture.
To accomplish these goals, organizers promote the following four Official Activities that anybody, including YOU, can register to be involved with:
Global Innovation Tournament. Organize a group of students to compete to develop innovative solutions to a specified global problem.
Speednetwork the Globe. Host an event where every five minutes participants find another person to network with, encouraging them to unleash energy, share ideas and make connections - fast.
Mentoring Madness. Inspire young entrepreneurs by organizing a local panel of successful entrepreneurs to hold discussions with them.
Global Clean Tech Open. Encourage youth to submit their clean technology business idea - from ways to generate clean energy to ways to policy initiatives. The winner receives start-up funds and assistance to start a business.
By participating in movements such as Global Entrepreneurship Week, we have the opportunity to build a stronger community: globally, nationally, and locally.
The Bottom Line
As an entrepreneur, YOU are key to a sustained recovery - to grow the economy, to create jobs, and to revitalize America. I encourage you to support the small businesses in your community and to encourage our youth to think about a career in small business.
For additional information on Global Entrepreneurship Week, go to: www.unleashingideas.org/usa
Is there a topic that you would like Michael to discuss? If so, email him at mgunther@collaboration-llc.com or call (805) 541-9040 to let him know.
Michael Gunther is Founder and President of Collaboration LLC, a team of highly skilled business professionals who are dedicated to assisting proactive business owners to build profitable, sustainable businesses through results-oriented education, coaching, and consulting services. Learn more at www.collaboration-llc.com.
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