Highlights of Being an Entrepreneur in the 21st Century – Part 1:
- Everyone living here has enjoyed a very high standard of living.
- Unfortunately, that’s changing. The economy has changed. The whole world is changing.
- Entire countries are bankrupt and more are certain to follow. Lehman Brothers is gone. GM was bankrupt.
- Why is this happening? Quite simply – global trade. The world has become a very small place.
- This has had a dramatic effect on many big companies. For a Canadian example: Nortel.
- What about the big, great technology companies? Like Intel, Microsoft and Cisco?
- None of these companies have created any wealth for their shareholders for over 15 years.
- Today big companies seem to be risky, and not very lucrative, places to work.
- The best and brightest are now often working in startups. And startups have been creating all of the new jobs.
- Startups are now where the innovation happens, where the excitement is and where the wealth is being created.
- The three big trends that entrepreneurs can capitalize on to create wealth today are:
- Innovation, Internet Acceleration and Capital Efficiency
- And the other good news is that there is no shortage of capital. Let me repeat that – no shortage of capital.
- Who actually finances startups? It’s not the Venture Capital funds.
- Angel investors finance 27x more companies than VC funds
- But the really big money is from Friends and Family. (Which can create some problems if we aren’t careful.)
Part 1 of the Being an Entrepreneur video series is also available on Youtube.