Managing Small Business Start-Ups - LULAC
Chapter 6
Managing Small Business Start-Ups
Starting a New Business
?
Since the 1970, the number of businesses in
the U.S. economy has been growing faster
than the labor force
?
The annual number of business launches
continues to increase
Manager¡¯s Challenge: Intermedics
Copyright ? 2005 by South-Western, a division of Thomson Learning. All rights reserved.
2
Entrepreneurship
¡ñ
¡ñ
¡ñ
Process of initiating a business
venture
Organizing the necessary
resources
Assumes associated risks and
rewards
Copyright ? 2005 by South-Western, a division of Thomson Learning. All rights reserved.
3
Five types of Small Business
Owners
Rewarded by chance to
work on something new
and creative
Idealists
24%
Get personal satisfaction
from being a business
owner
Thrive on the challenge of
building a larger, more
profitable business
Optimizers
21%
Hard
Workers
20%
Enjoy chance to balance
work and personal life
Jugglers
20%
High energy people who enjoy
handling every detail of their own
business
SOURCE: Study conducted by Yankelovish Partners, reported in Mark Henricks, ¡°The-Cast,¡± Entrepreneur (March 2000), 14-16.
Copyright ? 2005 by South-Western, a division of Thomson Learning. All rights reserved.
4
Sustainers
15%
Entrepreneurship and the Environment
?
Turbulence in the technology sector and the demise
of many dot-com start-ups = heightened concerns
about small companies competing against big
business
?
Entrepreneurship and small business
¨C
are vital, dynamic increasing important parts of U.S.
economy
¨C
are booming in other countries
Copyright ? 2005 by South-Western, a division of Thomson Learning. All rights reserved.
5
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