Being an Entrepreneur in the 21st Century -Part 1

BY Basil Peters

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.

Click here for part 2 of Being an Entrepreneur in the 21st Century.