A Performance Review System for Small Business

  

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(by Mike Kappel, Serial Entrepreneur)

Employers should do performance reviews every six months. It stinks, but it’s worth it. (Find out why by reading Why Conduct Performance Reviews Every 6 Months?)

Like many small business owners, I have too many people reporting directly to me (about 15). Taking time to conduct this many performance reviews twice a year is a problem for me. So, I designed a simple performance evaluation process that is designed to protect my time. Feel free to use or adapt my forms for your small business.

My 5-Step Process

1. Employees rate themselves first.
   They rate themselves on a simple scale of 1 to 6:

They rate themselves in areas such as:

There is space on the forms if the wordy people want to make comments. Some employees write a short novel; others scribble a quick “OK.” Either one is fine with me.

Note: Employees have the option of rating coworkers and managers (rarely used). I only share the positive comments from coworkers with the employee, but negative comments can lead me to ask significant questions during the face-to-face discussion.

2. I add my own ratings to the employee forms.
   After employees rate themselves, I toss their evaluation forms into my briefcase, and look at them when I have time (usually off-site). The way the forms are structured, each employee score is summarized into one single number, their Rating Number. For example, a person’s Rating Number may average out to be a 4.7, which means that they are somewhere between Very Good and Excellent in all of the areas rated.
3. I calculate how big each employee’s raise will be.
   I input each of my employees’ Rating Numbers into a separate money/raises spreadsheet, which helps me calculate how much money each employee should receive in their raise.
4. The face-to-face discussion.
   The most important and time-consuming step is to sit down with the employee. I use a no-holds-barred style; I tell it like it is (I have a fresh box of kleenex on the table...just in case). I try to keep my reviews to 20 minutes or shorter. However, there are instances when more time is needed.
   
   I always try to make sure that the employee feels appreciated. I thank them during their review. In fact, I thank them every night before they go home. As an employer, you should do this too!!!
   
   Note: Before I bring my employees into my office for their review, I do a quick refresher (e.g., their performance review forms, attendance info, my notes, and the amount of their pay raise). I also eliminate outside distractions and interruptions (e.g., phone calls, visitors, email).
5. The evaluation forms are electronically stored.
   We scan a copy of each employee’s signed performance review and upload it to the employee’s record in our human resources software. We use Patriot HR.

Do you have a performance review process that works well for you? Please comment with your stories, insights, and suggestions. And if you found this information useful, please tweet, like, or share.

Free Forms

To download our performance evaluation forms, click here.
To find out why you should conduct performance reviews every 6 months, click here.

Why Conduct Performance Reviews Every 6 Months?

  

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(by Mike Kappel, Serial Entrepreneur)

I strongly recommend that you complete performance reviews every six months. Yes, this can be very time-consuming (i.e., painful) for the small business owner, but there are five reasons why it’s worth your time.

(How do I do it? See A Performance Review System for Small Business for my time-saving, five-step review process.)

The 5 reasons to do 6-month reviews

1. Employee retention.
   This is my #1 reason for doing reviews every 6 months. More than once, I have discovered an unknown burr under someone’s saddle and have been able to address it. If reviews were done annually, it may have been too late, and I could have lost a high-demand employee like a programmer.
2. Frequent raises are motivational.
   Some say that performance reviews should be separate from the money talk. That’s crap because the money is why people work, and it’s a great motivator. Doing performance reviews every six months gives me the opportunity to give smaller rewards for high performance, but more frequently.
3. Creates formal documentation.
   Sometimes it’s necessary to terminate someone’s employment. But in order to do so, you better have good documentation. Doing performance reviews every six months gives you the opportunity to document problems more frequently. We keep signed review forms in our online human resources software.
4. A frequent opportunity to recognize and promote talent.
   Semi-annual reviews are an opportunity to identify and promote undeveloped skills and employee potential. Two of the presidents of my companies started in entry-level jobs, but my review process helped me spot their true potential and move them along faster.
5. Employees need positive affirmation.
   Remember they are people. When an employee’s score goes down, it could be due to life events... or it may be that they are slacking. It is good to find out if their heart is in the game... better to know than not know. Most people want to do a good job and stay out of trouble, and a frequent evaluation system encourages employees to be consistent and helps them do their best. And it costs less to keep current workers happy and productive than it does to hire new people.

Do your key employees know how much they are appreciated and what a positive impact they are having on your small business’s success? Please comment with your stories, insights, and suggestions. And if you found this information useful, please tweet, like, or share.

Free Forms

To download our performance evaluation forms, click here.
To read about my time-saving, 5-step review system, click here.

To Retain Employees, Let Them Work From Home

  

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(by Mike Kappel, Serial Entrepreneur)

If an employee wants to work from home, if at all possible, let them.

There is a lot of discussion about cloud computing, where internet-based applications replace installed software on your computer. For me, the real power of cloud computing is how it enabled me to retain employees who have relocated.  They continue to be productive workers without making the commute to the office. Here are some facts:

• My home-based workers appreciate the flexibility of working from home, and therefore, are high producers.
• My company retained two employees who were moving outside of commuting distance, and thought they’d have to quit.
• Cloud computing helps us meet deadlines and log fewer sick days because staff can occasionally work from home when necessary (including me).
• Half of my employees have jobs that would allow for telecommuting at least part-time.
• My small business also benefits financially by needing less office space. (On a much larger scale, the Wall Street Journal (12/19/2012) reported that half of Aetna’s workforce is home-based, which saves Aetna about $80 million annually on real estate expenses.)

Bottom line:  When your company puts your data and systems in the cloud, you have the ability to increase your employee retention. And less turnover is a good, good thing!

Managing a home-based employee

While there are pros and cons to managing home-based employees, telecommuting is definitely on the rise. I have one telecommuting employee in Florida (for ten years), and one on the other side of Ohio (for four years).  We are able to maintain communication and quality control with:

• Gmail and Gmail’s online chat feature
• Google Docs and Google Drive for sharing documents in the cloud
• Patriot Software’s online software for small businesses
• Cloud-based, homegrown, project-tracking software
• Good ol’ telephone

Don’t lose an invaluable employee if telecommuting is an option. Finding and training a replacement would be costly. Retention is a good, good thing.

Would any of your employees be able to work from home? Please comment with your stories, insights, and suggestions. And if you found this information useful, please tweet, like, or share.

Loans: They're Not Just From Banks Anymore...

  

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(by Mike Kappel, Serial Entrepreneur)

How are you handling the economic news of the impending fiscal cliff, or the massive influx of freshly minted cash to U.S. banks? Does it make you want to hunker down, or expand your business plans for 2013?

If your plans include borrowing money, the internet has an abundance of advice on the topic, including some humor from “anonymous”: “You can always borrow from a pessimist; he never expects anything back.”

Facts to Consider

All humor aside, you may be intrigued to know some interesting things are happening in the lending world...

• ...SBA’s (Small Business Association) loan programs posted the second highest dollar amount ever in FY 2012.
• ...Banks have record high reserves and are becoming very interested in lending again. In fact, commercial loan officers in smaller community banks are in demand and have seen a 39% raise in pay since 2008.
• ...The Federal Reserve’s economic stimulus plan is set to continue into 2013 (“Operation Twist”). Theoretically, this will goose the economy by making loans less expensive for home and car purchases and for funding projects.

Non-Traditional Lending Options

Nope. I am not talking about venture capitalists. FOXBusiness (Dec. 2012) featured two non-traditional lending options to consider with faster turnaround (and higher fees than banks or credit unions):

• Revenue-Based Financing (RBF). The borrower pays 3-5% of their revenue until the loan is paid off, rather than committing to a monthly payment amount.
• Factoring. The borrower sells their invoices to a third-party for a fee in order to have cash, before the customer pays, for needed supplies.

RBF or factoring may be the right solution if your business does not yet qualify for bank loans.

Is It Time to Raise Capital?

I am not an accountant nor a tax professional, so I am not advising you to run out and borrow money. Decide for yourself. Do these conditions make it a favorable time to grow your business?

• Non-traditional options like RBF or factoring may provide the bridge you need to grow your business.
• Banks are eager to lend, and interest rates are low.
• Also, friends and family may want to invest in your small business. See Patriot Software’s FREE 10-page white paper titled “How to Raise Capital for Your Business” for a step-by-step guide to private lending.

Remember, since you are not the federal government, you will have to repay every penny that you borrow. So, don’t borrow unless you know you can pay it all back.

Now it is your turn. Do you have a loan success story or nightmare to share? Please comment with your stories, insights, and suggestions. And if you found this information useful, please tweet, like or share!

5 Differences Among Small Businesses: A Quiz

  

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(by Mike Kappel, Serial Entrepreneur)

Compare Mom’s established hair salon in her converted garage with Amazon's startup phase in a garage. They are both small businesses, but Mom’s plan is to stay small, and we all know what happened to Amazon. It is like comparing apples to oranges.

So when Washington lumps all small businesses together and defines them solely by their “500 or fewer employees,” they ignore the fact that those businesses are more like unique “apples and oranges” than identical “apples” of different sizes! So should Mom and Amazon both be regulated as “apples”? (The shocker is that for the most part, they are.)

Different Goals and Challenges... Different Policies?

A November 2012 Wall Street Journal article argues that policymakers should recognize the differences among small businesses, and create different policies for them, in order to provide better support for entrepreneurs.  

A Quiz

See how much you know about small businesses with this short quiz based on the WSJ article (answer key at the end of the article).

1. Most of the jobs created by small business come from:
1. established firms older than 10 years
2. established firms 6-10 years old
3. startups that are 1-5 years old
2. About two-thirds of Small Business Association (SBA) loans go to:
1. startups
2. existing businesses
3. According to recent decisions in Congress, small businesses funded by venture capitalists:
1. should be awarded grants because they have already been evaluated and approved by investors
2. should not get grants because they already have an unfair advantage over other unfunded small businesses
4. What percentage of small business owners are not looking to grow big?
1. 50%
2. 75%
3. 25%
5. A startup with global potential is most worried about
1. hiring employees with impressive skills (and the status of immigration and education policies)
2. paying salaries for employees (and tax credits for the business)

The Facts Have Spoken...

The current regulations fail to consider these statistics. It's time to stop treating all small businesses the same and to recognize the contributions each type can make to our nation's economy.

Now it is your turn... How is your business affected by government regulations? Please comment with your stories, insights, and suggestions. And if you found this information useful, please tweet, like or share!

Answer Key: 1. c;  2. b;  3. a;  4. b;  5. a

Capitalism, Free Enterprise, and Entrepreneurial Spirit: Part 2

  

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(By Mike Kappel, Serial Entrepreneur)

The majority of Americans (62%) cannot define capitalism. This unsettling statistic inspired me to write an article called Capitalism, Free Enterprise, and Entrepreneurial Spirit. The article was a timely reminder that free enterprise is A Good Thing. In Part 2, we’ll take it a step further and help that 62% jump on the Capitalism-Works Bandwagon.

First, the Definition

Coined in the mid-1800s, “capitalism” is defined as an economic system in which the means of production and distribution are privately or corporately owned, and development is proportionate to the accumulation and reinvestment of profits gained in a free market.

On the Other Hand...

You already “get it,” but not everyone believes capitalism is a good thing. There has been “capitalism bashing” in the media for years. For example, filmmaker Michael Moore’s 2009 movie “Capitalism: A Love Story” concludes that capitalism is evil, benefiting the rich and banishing others into poverty... not a ringing endorsement for small business owners.

So 62% cannot define capitalism, and capitalism bashers are in the media. That does not sound like an entrepreneur-friendly business environment.

I propose that we need an educated community, and perhaps we start with our youngest citizens.

Grade School

In my case, I embraced capitalism at the ripe age of 10. Remember the neighborhood lemonade stands? I took it a step further and had a neighborhood lawn care business, complete with employees and workers compensation insurance coverage.

Education can start with children’s books on entrepreneurism. For example, Be Your Own Boss: Small Businesses is written for eight-year-olds and says:

• 10% of small businesses are started by people under age 25.
• A teen can double their earnings by being self-employed.

High School

Capitalism is taught in social studies class, and 70% of high school students want to start their own businesses. Sounds like my youthful ambition may be more common than you think, and the kids are giving capitalism a thumbs-up. 

Beyond the books and classroom lessons, there are organizations giving youth real experiences with capitalism. You have probably heard of Junior Achievement (J.A.), the 96-year-old global organization that now has volunteers in classrooms all over the world, starting with kindergarten. J.A. teaches young people to be successful and confident by making smart academic and economic decisions. In the 2011-2012 school year, Junior Achievement volunteers helped 4.2 million students in 183,000 U.S. classrooms develop personal finance and employment skills for the 21st-century global workplace.

Are you familiar with NFTE (The Network for Teaching Entrepreneurship - pronounced “nifty”)? For 25 years, NFTE has turned low-income students’ “street smarts” into “business smarts,” helping 50,000 junior and senior high students hone their entrepreneurial skills each year. Success stories include 18-year-old Derron who started a T-shirt design business despite a difficult childhood with a father in and out of prison. Derron designs remarkable abstract art for apparel that is sold in limited editions.

By the way, both J.A. and NFTE are always looking for volunteers and support, in case you are looking for an opportunity to “give back.”

You Are the Best Teacher

So how did 62% of Americans miss the lessons on our economy with so many opportunities to learn … in school and in books and even real experiences?  Do your kids, teens, family, friends, and employees understand the value of free enterprise and the unique perspective of an entrepreneur? Do they “get it”? Once they embrace the opportunity of capitalism, they will be more likely to contribute to the success of your small business.

So educate your family and employees... and the 62% of Americans who cannot define capitalism! You can use these articles for starters. This is basic stuff. Small business is the foundation of our economy. Even the largest conglomeration started out small. There is no need for small business to be demonized.

As 2012 comes to a close, let’s get back to the basics and educate all those “non-entrepreneurs”!

When did you know you wanted to start your own business? Are there any small business “basics” that you would like to brush up on? Please comment with your stories, insights, and suggestions --and if you found this information useful, please tweet, like or share! 

What is the Connected Consumer Era?

  

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(By Mike Kappel, Serial Entrepreneur)

Remember These?

History identifies major “technology periods” as world-changing events:

1. Industrial Revolution (1750 to 1850)

2. Post-World War II economic boom years (1945 through 1970s)

3. Information Age (1970s through 2000)

4. Connected Consumer Era (2010 through 2025)

What?  You’ve never heard of the Connected Consumer Era?  That’s because it’s new; brand new. The synergistic combination of internet connectivity, computers evolving into smartphones, and social media have paved the way for what is just beginning... the Connected Consumer Era.  

No, this is not the Social Media Era.  Social media (Facebook, Twitter, YouTube, Pinterest, etc.) are merely transitional players in what is starting to happen. The Connected Consumer Era is a permanent shift where individual consumers (connected to other consumers) rule over all manufacturers, retailers, and wholesalers.

A Little History

Let’s start with the post-World War II “Golden Age of Capitalism.” Manufacturing was booming everywhere in the USA.  For instance, my father’s employer made hundreds of thousands of ice cube trays and sold them to large refrigerator manufacturers.

Then, there was the Information Age.  While I was in college in the late 1970s, I wrote engineering programs on a mainframe computer with 4K of memory that was physically as big as four refrigerators.  After graduating in 1980, I borrowed $3,000 to buy an Apple personal computer with 48K of memory.  My dad asked me why I was buying that “toy.”  Although I wasn’t sure what I was going to do with my new computer, I was sure that it wasn’t a toy. I knew I would use it to make money. I was right.

Now, It Is the Connected Consumer Era

Let’s fast forward to 2012.  

• Customers are researching what other consumers are saying about a product, reading their testimonials, and asking questions in real time. The consumer does product and pricing research upfront, in advance, on the internet (via smartphone). Would-be customers are asking your current customers what they think of your product.  And if they like what they learn, they place their orders any hour of the day or night.  Essentially, your current customers are becoming your sales force.

  

• A customer places an order for one forklift, one generator, one pallet of supplies, or even one pair of shoes on the manufacturer’s website via credit card.  

• Manufacturers fulfill orders directly to the end consumer in quantities of one.  But in order to do that, the manufacturers are being forced to rethink their production scheduling and inventory control methodologies. Shipping departments are changing in order to handle these low quantity orders.  

• It is all about logistics. Think of the impact on FedEx, UPS, etc. …  it is going to be huge, huge, huge.  Online distributors like Amazon and retail distributors like Walmart are not only competing on price, but they are competing on free same-day shipping, too.

• Consumers want the best price, and they figure the quality will be “good enough,” no matter which company’s product or service they select. This means many (if not most) products and services are becoming commodities in the consumer’s mind.  They assume they’re all of similar quality, so it all comes down to price.  Many businesses do not want to acknowledge this trend, but it’s real and it’s happening before our eyes.  

• One single consumer now has power over a large manufacturer, because that consumer now can speak out to thousands of other would-be consumers.  Manufacturers have to keep consumers happy; all of them!  And, they must monitor their company’s reputation and what’s being said about them online.

• In days of old, there was the sales and marketing department. The more effective folks were put in sales, and the people who couldn’t sell were put into the marketing department. But that trend is now reversing. Even the phraseology is changing to marketing and sales (with the emphasis on the word “marketing”).  In the Connected Consumer Era, Marketing is the King. Companies are reducing their sales forces, which require commissions, company cars, and expense accounts, in favor of beefing up their marketing department.  And they’re teaching their customer support staff to become “order takers” and upsell other products.

• Companies are shifting from “selling” their product to having consumers “choosing to buy” their product.  Can’t quite see this yet?  Think of a grocery store. All the products are lined up on a shelf, and the consumers buy what they want.  Well, the same analogy holds true for all other vendors, because now consumers can browse all products 24/7 via their smartphones and make their purchases without ever entering a store.

• If you are thinking, “Our sales are based on relationships,” I wish you luck. Because nobody wants to build a relationship with your salesperson.

• Or you may be thinking “Our service and our quality set us apart.”  Again, good luck with that thinking, because that’s now a minimum threshold expectation. That’s a prerequisite for being in business... for being at the table. Your quality and service must be excellent; otherwise, consumers will talk amongst themselves and put you out of business.

You Can’t Ignore the Connected Consumer Era!

So what can you do?  Here are some basic starting points:

• Get a website. Without a website, you are not real, and you don’t exist.

• Make sure that your website address (i.e., your domain name) is easy to remember and matches your business name.

• You must put your pricing on your website. This is an absolute must.  Nobody is going to call you to ask for your pricing, because there are at least 50 other businesses out there who do what you do and display their pricing on their websites.

• Although this can be an enormous, ongoing task, make the commitment to learn how to promote your website. Start with your current customers.

• Make sure it appears to be easy to buy from your company. Your website must be simple, crisp, clear, easy to research, etc. Offer guarantees, no-question refunds and returns, etc.

• You won’t be able to please everyone, so don’t try.  Don’t worry about buyers that are stuck in the era of reading the newspaper. They’re not your future.  Instead, know that buyers are “growing up” at a high rate of speed. Focus on the digital consumers... the up-and-comers.

Proclamation:  We Are in the Connected Consumer Era!

You heard it here first. This Connected Consumer Era is going to affect everybody; all businesses, students, medical communities, faith-based organizations, households, government... everybody!

As a small business owner, are you ready? Please comment with your stories, insights, and suggestions. And if you found this information useful, please tweet, like or share!

Helping Small Business Creates More Jobs

  

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One of the hot topics of the 2012 Election is small businesses and their important role in creating new jobs. The Small Business Administration (SBA) says 60-80% of new hiring comes from small businesses. What threats are keeping small businesses from hiring? Here is an infographic that says it all. For the complete article, see Why Do Small Businesses Hire?

Feel free to like, tweet or share...

Why Do Small Businesses Hire?

  

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(By Mike Kappel, Serial Entrepreneur)

My credentials for answering this question:

I have been in business for more than 25 years. I have started, and own, 5 successful small businesses. Four of them are employment-related businesses. I employ 60 full-time employees directly in my businesses, and I also employ over 300 contract staffing employees in over 40 states. With that said, I can confidently state that I know why small businesses hire, and why they don’t hire.

A Few Facts:

• Watch the 4-minute video for the 3 threats facing small businesses in 2012.
• In our free enterprise system, there are 27.9 million small businesses.
• Almost half of the US workforce works for a small business.
• The Small Business Administration (SBA) says 60-80% of new hiring comes from small businesses.
• Small business is the backbone of our nation!

The USA workforce wants more jobs...

• To have more jobs...
• we need more small businesses.
• To have more small businesses...
• we need more entrepreneurs willing to take risks.
• To have more entrepreneurs willing to take risks... We must do 5 things:

1. reduce taxes on small businesses.
2. reduce Obamacare costs, mandates, and penalties.
3. reduce unnecessary government regulations.
4. reduce our national debt, which scares small business owners!
5. promote capitalism, free enterprise, and entrepreneurial values.

• If we do these 5 things, entrepreneurs will evaluate the risks versus rewards of hiring. And they will...

1. have more money and confidence to try things.
2. create millions of new jobs!

• And millions of new jobs means billions of new payroll-tax dollars that will...

1. fund our government and pay down our debt.
2. increase consumer confidence.
3. increase small-business-owner confidence.

• Which means even more new jobs... It’s that simple!

How can you make these 5 things happen?

• Educate yourself on The Differences Between Democrats and Republicans.
• Identify the politicians who will do the 5 things above.
• Vote on November 6th! It’s your civic duty.

Now it is your turn! Please comment with your stories, insights, and suggestions. We’d love to hear from you . . . And if you found this information useful, please tweet, like or share!

Capitalism, Free Enterprise, and Entrepreneurial Spirit

  

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(By Mike Kappel, Serial Entrepreneur)

A recent WSJ article said that just 38% of Americans could correctly define capitalism. Yikes! Therefore, let’s talk about Capitalism, Free Enterprise, and the Entrepreneurial Spirit.

Some Basics:

• For the chance of earning big profits, entrepreneurs will take big risks.
• “Supply and Demand” are the economic principles that all small businesses live or die by.
• Capitalism is based on competition, where there are winners and losers.
• Many small businesses fail, but the strongest survive.
• Entrepreneurs understand this, and they embrace the opportunity to compete...and win.
• Capitalism and free enterprise (i.e., competition) made our country strong.

Capitalism: We All Need to be Reminded of These Truths!

• Competition is good.
• It causes people to work harder, and get better at what they do.
• When businesses compete, there are winners and losers.
• Businesses that lose can try again.
• Competition is good for businesses and its employees, because everyone has to strive to be the best they can be.

• Capitalism is good.
• It gives people a way to pursue their dreams and passions.
• It gives people a way to “be their own boss.”
• It gives people a chance to pursue achieving their own “financial independence” by creating something valuable.
• It lifts people out of poverty, and allows them to contribute their skills, talents, and passions toward the good of society.

• Profit is good.
• Businesses that make a profit can grow, develop more valuable products and services, and can hire more people.
• All businesses need to make a profit in order to survive.
• Profit is the financial “measure of success” for all businesses.

• Americans should re-develop a “positive view” of profitable businesses and celebrate the entrepreneurship that made this country what it is.
• Businesses that make an honest profit should be applauded.
• If a business owner becomes wealthy honestly, we should applaud their success!
• In the vast majority of cases, small business owners who became wealthy did not get that way by making someone else poor. We should applaud their success because:
• They became wealthy by creating something valuable to someone else.
• They created something out of nothing.
• They probably created jobs for many people.
• And they probably paid a lot in taxes, which funds our government.

Free Enterprise and the Role of Goverment

The role of the government can be summarized in three sentences: Let entrepreneurs be entrepreneurs. Let them innovate! Stay out of their way.

• The government should...
• Not erect barriers to starting a business.
• Not make it expensive or difficult to hire or fire employees.
• Not confiscate or limit a business’ profits.
• Not dictate how the business should operate.
• Not compete with any private business by participating with any other private business. And should not throw off the supply-and-demand balance of free enterprise by selectively giving financial assistance, which results in creating artificial winners and losers.
• Not attempt to “do business” that a private business could do.
• Not dictate what people can earn or are paid.
• Not fund or have any stake in any existing private company, which could cause the business to rely on the government as a financial lifeline. That’s what banks are for. There are circumstances where SBA loans to very small, new startup companies could be argued, but the dollar amounts should be small, small, small.
• Not attempt to guarantee equal outcomes for any Americans. Instead, it should recognize that there will be business winners and business losers.
• Not attempt to take monies from a successful company, for the purpose of redistributing it to a business (or person) that is not as successful.

• On the other hand, the government should...
• Enforce basic laws against the use of force, fraud, theft, criminal behavior, collusion, etc.
• Enforce basic laws against any person or entity that is found guilty of harming another person.
• Enforce trade laws that provide US businesses with a level-playing field with other businesses in other nations.
• Allow the economic laws of “Supply and Demand” to function.
• Let entrepreneurs be entrepreneurs. Let them innovate! Stay out of their way.
• Reward success...not punish it.
• Make the USA the easiest place in the world to start and operate a business, with the fewest constraints possible.
• Presently the USA is the 4th best country to start a business.
• Presently the USA is the 10th in economic freedom.

Entrepreneurial Spirit

Entrepreneurs have a “calling” on their lives that’s in them from the time they were born. God put it there. Of course it’s a huge blessing, but there are times when many entrepreneurs view their calling as a curse. I say this because while most people are able to relax and kick back, many entrepreneurs are often unable to get a mental break from their work projects.

Entrepreneurs are called to their mission. It’s their passion. They usually possess a very strong inner conviction, which causes them to work long hours and take financial risks. For most entrepreneurs, money is very important. However, when you dig deep into what they’re doing, and why they’re doing it, you’ll usually find out that money is not their main motivational driving force. Instead, their mission is their main driving force. And in most instances, their mission usually involves “good,” for example, something that makes their community, their country, or the world a better place for other people.

God planted this entrepreneurial spirit in certain people. Why? I have no idea. But, I can guarantee you that it’s there. And one of the greatest attributes of the USA is our willingness to let entrepreneurs explore their missions and chase their dreams...for the purpose of creating something “good,” and for the opportunity to make money.

Now it is your turn! Please comment with your stories, insights, and suggestions. We’d love to hear from you . . . And if you found this information useful, please tweet, like or share!