ADA, MI — For the past five years, Amway has been gathering data on entrepreneurs and what makes them different from other worker bees.
In the recently released 2014 Amway Global Entrepreneurship Report, the Michigan company surveyed more than 40,000 people to gain insight about the state of self-employment around the world. This year's survey questions explored the connection between education and entrepreneurship.
Image: Amway co-CEOs Steve Van Andel, left, and Doug DeVos talk inside Amway's headquarters in Ada Monday, Feb. 3, 2014. (Cory Morse Mlive.com)
If I was to try to sell you a piece of wood about 3 feet long, how much would you pay? Not much, I assume. Maybe a dollar.
What if that piece of wood was nearly a hundred years old? Probably even less.
What if I was to turn that piece of wood into a baseball bat? How much would it be worth then? My labors have turned the raw material into something useable. The piece of wood’s value has increased because it is no longer just a raw material. Now, it is a raw material plus my labor.
In the shadows of Bay Street, Canada’s established financial district, and communities across Canada, Canada’s newest entrepreneurs are feeling the impact of new funding. Partnering with innovators since early 2000 and looking for tomorrow’s next billion-dollar company, Angel Networks in Canada and members of Accredited Investors have invested personal funds and created further financing opportunities for these promising young founders. These accredited investors are usually people who are looking to give back to the community and help budding entrepreneurs achieve their goals, with an expectation for a positive return on investment.
I’ve always wondered who started the urban myth that the best way to start a company is to come up with a great idea, and then find some professional investors to give you a pot of money to build a company. In my experience, that’s actually the worst way to start, for reasons I will outline here, and also the least common way, according to an authoritative survey of new startups.
Starting a company takes money — something you might not have much of when you’re just starting up. But there are both pros and cons to seeking outside capital before you’ve demonstrated traction or the potential for real success. So we asked nine entrepreneurs the following:
At the recent TCI global conference in Monterrey, Mexico, I shared some on my experiences on the practicalities of cluster development.
Red Lights shine on clustering initiatives that are artificially confined, the wanna-be clusters and paralysis-by-analysis.
Some people may think it’s ludicrous to try to break into an industry where you have no specific expertise. But lack of experience doesn’t necessarily mean failure, as long as you work smart and align with the right resources—and people.
It’s not easy being a kid today. They face shifting curricula requirements, a strong focus on standardized test results, piles of homework, and a seemingly never-ending quest for achievement in everything from academics to sports. A recent documentary, Race to Nowhere delves into the rigors and risks of growing up in the 2010s.
“Our world looks in vain for strong leadership,” lamented the commentary for a new report by the World Economic Forum about the global outlook for 2015. The Geneva-based foundation, best known for its gatherings of world leaders, surveyed 1,767 experts about the major trends likely to keep troubling us in the year ahead.
Steve Blank's biggest failure as a startup CEO was at Rocket Science Games. The team lost $35 million because the business model and the founding team didn't match. When he looked around at the executive staff, there wasn’t a single founder who was a gamer. Worse, there wasn’t a single person who had come from a game company. Nor was there anyone with this experience on the board. In the end, it made beautiful looking products that weren’t much fun to play.
Cathal Garvey used to work in cancer research. Now he is the scientific director of IndieBio, a biotech accelerator based in Cork, Ireland which is about to open a branch in San Francisco. Garvey originally studied genetics. "I got into genetics after seeing a documentary about it when it was quite young." he says."I had already decided that I was going to be a biologist at an even younger age. And then I thought ‘Oh my God, living things operate on a code.’"
Maryland is not waiting for the new year or a new governor to start taking applications for a program intended to boost business development around colleges and universities. The state is now taking applications for its new Regional Institution Strategic Enterprise Zone program(called the "Rise Zone" program for short). It requires two application stages. The first stage, which is now open, requires higher education institutions, regional higher educational centers or nonprofit organizations that are associated with federal agencies to apply to the state Department of Business and Economic Development. The state will then qualify those groups.
Image: Jaclyn Borowski A new state program aims to build business zones around universities like the University of Maryland in College Park.
All marriages come with all different types of challenges and experiences. I have realized that while many of these marriage/partner experiences are similar to other couples', there is a whole new dimension in marriages involving an entrepreneur.
The breed of the entrepreneur personality has many unique traits that don’t always fit into the same box that some may consider the "norm" in a relationship. As someone who is married to an entrepreneur, I often find myself shaking my head and enjoying some of the funny things that my husband does. Some of these things I absolutely love about him, some I learn to live with, and luckily, we often both laugh about the entrepreneurial personality!
In a step toward sophisticated artificial cells, scientists have engineered a silicon chip that can produce proteins from DNA, the most basic function of life.
The system, though relatively simple, suggests a path to mimicking life with partly manufactured components, says Roy Bar-Ziv, a materials scientist at the Weizmann Institute of Science in Israel, who is leading the work.
Image: A simple artificial cell has circular chambers etched into silicon. These contain DNA, and are connected by microfluidic channels to a bath of cellular enzymes. - http://www.technologyreview.com
Even in drought-stricken California, San Diego stands out. It gets less rain than parched Los Angeles or Fresno. The region has less groundwater than many other parts of the state. And more than 80 percent of water for homes and businesses is imported from sources that are increasingly stressed. The Colorado River is so overtaxed that it rarely reaches the sea; water originating in the Sacramento River delta, more than 400 miles north, was rationed by state officials this year, cutting off some farmers in California’s Central Valley from their main source of irrigation. San Diego County, hot, dry, and increasingly populous, offers a preview of where much of the world is headed. So too does a recent decision by the county government: it is building the largest seawater desalination plant in the Western Hemisphere, at a cost of $1 billion.
The revolving door to many Fortune 100 executive suites has been turning 360 degrees in recent years as employees who leave to broaden their experience, increasingly find themselves returning to the fold.
The “boomerang employee”, someone who leaves a workplace only to return later in their career, is a growing phenomenon that can be explained in part by the number of former Fortune 100 companies actively running alumni programmes. There is no general rule as to why executives check out and then check back in to a familiar workplace but in the following two part series, we attempt to analyse some of the trends and challenges involved, via the story of six very different executives around the world.
The ability to be happy.
I think this is grossly overlooked and underrated by most people.
I've met brilliant people, impressive people,rich people, poor people, talented people, angry people, sad people, straightforward people, manipulative people, people that love women, people that hate women, people that hate men, and people that love men, great talkers, bad communicators..........every type of person there is........
A machine that administers sedatives recently began treating patients at a Seattle hospital. At a Silicon Valley hotel, a bellhop robot delivers items to people’s rooms. Last spring, a software algorithm wrote a breaking news article about an earthquake that The Los Angeles Times published.
Although fears that technology will displace jobs are at least as old as the Luddites, there are signs that this time may really be different. The technological breakthroughs of recent years — allowing machines to mimic the human mind — are enabling machines to do knowledge jobs and service jobs, in addition to factory and clerical work.
In order to get a true feel of what comprises a leader, it’s crucial to analyze those who came before us. Both their cultivated and natural leadership qualities led them to success in various situations. The concrete examples by proven leaders below act as guideposts for our ambitions toward becoming great leaders that attract remarkable people to join our journeys.