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A Blog by Paul B. Silverman

Helping Entrepreneurs Understand Today's Emerging Opportunities and Plan, Finance, Launch, Manage and Grow New Ventures


Promoting Young Adult Entrepreneurship in High Schools With Partners

Pleased to announce first book in the Doc Larsen Business Adventure SeriesTM,  Freddie and Billie’s New Business Adventure, will be available in bookstores, libraries and institutions in early 2021. Delayed due to COVID-19.

Many efforts are  in-progress to promote ‘financial literacy’ among high school students (e.g., balance checkbooks, budgets, how credit works, etc.)- these provide real benefits.

But a Gallup study shows 40 percent of students are interested in exploring how to start a new business. My objective is to create ‘entrepreneurial literacy’ motivating and educating young adults to explore entrepreneurship. We can do much more in this area which provides significant benefits to students, families and regional economic development. In my view this needs a local, regional and national effort

And a key target includes minority and particularly women entrepreneurs who statistics show are growing new businesses 1.5 times the national average of all U.S. businesses.

I am creating the program and reaching out to partners who share my vision- brokerage and banking firms are ideal ‘win-win’ partners gaining access to a next generation of young entrepreneurs.

I am also fine-tuning my message to young entrepreneurs – take a look at what teens read when they click on the ad below which is now posted.

Check out : https://paulbsilverman.com/great-new-business-idea/

This is a ‘…takes a village effort’. If you are interested in playing a role in my efforts or have comments drop me a note at paul@paulbsilverman.com.

All the best and stay safe,

Paul

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Let’s Jumpstart Young Entrepreneurs- Remember This Garage?

Now designated as a historic site, 2066 Crist Drive in Los Altos, California was the hangout for the founders of Apple, Steve Jobs and Steve Wozniak- friends, and students at Homestead High School.

But pass by and it looks like any other garage in the suburbs. And that is the point. 

These two teenagers, motivated and energized to ‘push the envelope’, challenge traditional thinking created a new computer, the Mac®. And, after many ups and downs, launched Apple®. Two teenagers taking an amazing journey, disrupting traditional thinking, taking risks, creating massive economic value.

We need more ‘garages’ where young adults are motivated to push the envelope and develop pursue new business opportunities. We achieve that objective with a two-pronged approach using Motivation and Empowerment. Motivation to open young adults to opportunities and benefits of entrepreneurial thinking. Empowerment giving young adults the tools and education helping them succeed no matter what career path they choose.

Teaching and working with hundreds of early stage ventures confirms to me young adults are excited about ‘doing their own thing’. But many also recognize the difficult road developing a new business and the high risk – 50 percent of new ventures fail after 3 years.  

And young adults do recognize the opportunity. Key findings in a 2017 Gallup/Operation Hope report showed strong student interest in entrepreneurship but they faced challenges. Some study highlights:

  • Nationally, about four in 10 students (41%) agree they plan to start their own business, but less than half of all schools offer classes in how to start and run a business. And this number has decreased since 2011 — from 50% to 43%.
  • Half of students from lower socioeconomic backgrounds agree that they plan to start their own business, compared with 35% of students from high socioeconomic backgrounds. But students from lower socioeconomic backgrounds face more obstacles — such as a lack of social or financial capital or other resources — than their peers from high socioeconomic backgrounds.
  • “Our index shows students remain optimistic but lack the financial literacy to compete globally with other students. This is bad news for America,” said John Hope Bryant, founder, chairman and CEO of Operation HOPE. “We need to prioritize the economic engagement of today’s youth and promote financial literacy, financial dignity and entrepreneurship in underserved communities.”
  • Gallup Chairman and CEO Jim Clifton noted, “There are some promising signs, however. About 40% of students want to start a business or invent something that will change the world. The problem is, only 5% of these students are in internships in companies or organizations. This is arguably the single biggest failure of our leadership. Not Washington’s, not the public schools’ — but yours and mine.”

What is also less reported is the role of minorities in today’s entrepreneurial revolution. The U.S. Census Bureau reports that while the total number of businesses in the U.S. declined from 2007 to 2012, the number of Latino-owned businesses grew by 46 percent. In a 2015 study, the Stanford Latino Entrepreneurship Initiative (SLEI) reported that Latino-owned businesses tend to start small and stay small, representing just 6 percent of all U.S. employer firms. In 2016, Latino-owned employer firms generated over $400 billion and employed almost 3 million people, which, in magnitude, is much lower compared to white-owned firms. White-owned firms generated over $10 trillion and employed 17 times the number of people, or over 52 million people. Today’s young Hispanic entrepreneurs are fueling the next generation of Latino-owned businesses.

I am encouraged talking with business leaders who share my vision on the opportunity to motivate and empower young entrepreneurs. But we can do more to fuel growth of young entrepreneurs. Developing creative programs to promote entrepreneurial motivation and empowerment among young adults, we can help create the next generation of ‘garages’ driving today’s entrepreneurial revolution and economic growth. Let’s get moving!

Paul B. Silverman

Forbes 2015: Millennials Want To Be Entrepreneurs, So Why Aren’t They Starting Businesses?

I am reviewing all my blog posts and other materials for a new book on how smart cities will accelerate disruptive innovation, create exciting new investment opportunities and reshape today’s entrepreneurial revolution. I found a 2015 Forbes article  Millennials Want To Be Entrepreneurs, So Why Aren’t They Starting Businesses? and my posted comments. Five years old but most still applies today- thought you may find helpful.

 Stay safe.  All the best,

  Paul

Posted comments at

https://www.forbes.com/sites/jaredmeyer/2015/07/20/millennials-entrepreneurship-starting-businesses/#9a916401d637

Direct link to Forbes article:

https://www.forbes.com/sites/jaredmeyer/2015/07/20/millennials-entrepreneurship-starting-businesses/#9a916401d637

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Message for Young Entrepreneurs

Here are words of wisdom I often share with young entrepreneurs. I used this in the intro in a recent book for young entrepreneurs:

“Twenty years from now you will be more disappointed by the things you didn’t do than those you did. So throw off the bowlines. Sail away from the safe harbor. Catch the wind in the sails. Explore, Dream. Discover.”

Mark Twain

Young adults recognize the entrepreneurial opportunity. In a 2017 Gallup/Operation Hope report measuring student attitudes about entrepreneurship, here are some key findings:

  • Nationally, about four in 10 students (41%) agree they plan to start their own business, but the percentage of schools offering classes in how to start and run a business has decreased since 2011 — from 50% to 43%.
  • Half of students from lower socioeconomic backgrounds agree that they plan to start their own business, compared with 35% of students from high socioeconomic backgrounds. However, students from lower socioeconomic backgrounds will potentially face more obstacles — such as a lack of social or financial capital or other resources — than their peers from high socioeconomic backgrounds.
  • “Our index shows students remain optimistic but lack the financial literacy to compete globally with other students. This is bad news for America,” said John Hope Bryant, founder, chairman and CEO of Operation HOPE. “We need to prioritize the economic engagement of today’s youth and promote financial literacy, financial dignity and entrepreneurship in underserved communities.”
  • Gallup Chairman and CEO Jim Clifton noted, “There are some promising signs, however. About 40% of students want to start a business or invent something that will change the world. The problem is, only 5% of these students are in internships in companies or organizations. This is arguably the single biggest failure of our leadership. Not Washington’s, not the public schools’ — but yours and mine.”

Check out my comments on a Washington Post article Teaching High School Students Entrepreneurship Drives Jobs And Economic Growth in October 2011- progress has been made but much more can be done (https://paulbsilverman.com/2011/10/25/teaching-high-school-students-entrepreneurship-drives-jobs-and-economic-growth/)

Young entrepreneurs fuel today’s entrepreneurial revolution. We have some challenges but their opportunity outlook is positive, exciting and unbounded- that is my message. 

Best to all and stay safe.

Paul

Using Systems and Analytics To Beat Covid- Italy’s Experience

Using Systems and Analytics To Beat Covid- Italy’s ExperienceLessons to be learned here. Data and science based decision rules drive the process. Well defined, standardized systems communicated to all. No one ‘makes it up’ as you go along- you stay with the plan and modify as needed. Management discipline, analytics coupled with a cohesive reporting and execution, solid management- that is a winning formula. The numbers and results in Italy speak for themselves.

Is this a surprise? Not to any senior management executive who has managed major programs, launched new ventures or addressed critical business issues and understands management analytics and how they are used. No question we are in tough challenging times, but there are proven ways to win here and the Italy experience provides one blueprint on how it can be done. Let’s get moving,, all working in the same direction, save lives and get back to normal. Too much tine and too many lives lost which could have been avoided.

https://www.thedailybeast.com/italy-finds-tens-of-thousands-of-covid-19-casesliterally-at-random?ref=scroll

Paul B. Silverman

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New Book Released Today Targets Young Adults, Creating the Next Generation of Young Adult Entrepreneurs

I am pleased to announce a new book released today ‘Freddie and Billie’s New Business Adventure’, first book in a new Doc Larsen Business Adventure Series.

The new book and series contribute to helping create the next generation of young adult entrepreneurs which I consider critically important. I appreciated the initial positive  reviews . New book draws on teaching entrepreneurship/ management at 3 universities since 2002 and my four decades of corporate and new venture development and management.

Here is copy of today’s press release:

RESTON, Va., June 17, 2020 /PRNewswire/ — Freddie and Billie’s New Business Adventure by Paul B. Silverman is the first book in the Doc Larsen Business Adventure Series™ providing young adults with new skills helping them plan, launch and manage a new business venture.

Print and Kindle Editions

Doc Larsen Business Adventure SeriesTM

  • Teach young adults to fish and they eat.
  • Teach young adults entrepreneurship and they think about business, understand how it works, how you evaluate ideas and shape ideas into business opportunities.
  • Entrepreneurship empowers young adults with a head start – thinking ‘out of the box’, testing traditional ways of thinking, translating physical actions into models to drill-down on potential opportunities.
  • Entrepreneurship empowers young adults with a competitive edge entering the job market regardless of what career path they pursue. Entrepreneurship teaches students critical thinking, problem solving, creativity, teamwork, ethics, social responsibility and how to plan, develop, launch and manage a new business.

Young readers are introduced to the Business In A Box™ planning system with seven integrated models, developed by the author introducing young adults to entrepreneurship and providing a strong foundation on how to create a successful new venture. The ‘Business In A Box™‘ seven model approach is a powerful system, simple to plan, launch and manage new ventures. Easy to explain, the models fit together offering a simplified streamlined process and a powerful tool helping young adult entrepreneurs develop a new venture plan.

Using conversations and story-telling techniques, a light entertaining, highly readable, jargon-free style, not academic lectures, to develop a real business plan ensures Freddie and Billie’s ‘learn by doing’ experience and journey is well received by young adult readers.

The number of unemployed young adults (16 to 19 years) jumped from 12 million in March to 29 million in June. Given need to help address this challenge the new book was released today in the US and internationally on Amazon (print and Kindle). Distribution via bookstores, educational institutions and libraries, and promotional tour delayed until Fall 2020.

You can read the complete press release at Press Release PR Newswire

My view is we can do more to promote entrepreneurship, including innovative regional and possibly national programs building upon many excellent resources now in place. The new book and the creation of the Doc Larsen Business Adventure SeriesTM is my contribution as an initial step. Today’s entrepreneurial revolution is creating new alternatives to spur innovation and business development and will be discussing ideas we can pursue in coming months.

Creating the next generation of young adult entrepreneurs is an ambitious tasks and I invite all to do what you can to support this objective, or as Doc Larsen says, ‘Pay it Forward’ to our next generation of youbg adult entrepreneurs.

Comments always welcomed

Paul B. Silverman

For more information, refer to the book website at https://paulbsilverman.com/books/freddie-billies-new-business-adventure/  or Amazon Print and Kindle








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Entrepreneurship. TV Interview. Nov 30th

Entrepreneurs need Untitled design(2)to  learn new traditional management skills to improve their ability to both attract funding and succeed. That is the message I delivered in a local TV interview discussing #entrepreneurship in Northern Virginia. The region is now called “Silicon Valley East” based on the surge of entrepreneurial ventures in the area.  Read More








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Forbes-Roundup Analytics,Big Data,BI, IOT

IOTExcellent article in Forbes on big data, analytics, and business intelligence. You can see my comments (top comments section)  and the Forbes article at Read More








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More Mobile Devices Than People-IOT?

Interesting article in AssetDNA.com “Is Business Ready for the ‘Internet of Assets’?”

Here is a link to the AssetDNA.com article

Article quotes Digital analyst GSMA Intelligence that “… there are now more than 7.28 billion active mobile connections globally compared to 7.20 billion humans as per the US Census Bureau’s world population clock. What is more, these gadgets are multiplying 5 times faster than we are.” Read More








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Surge Rate of Hispanic Entrepreneurship

Hispanic Entrepreneurs Are Beating Expectations and Bolstering the U.S. Economy

This point obviously seems to be missed in our current political debate. And the conclusions here are driven by numbers and data, not rhetoric. Hispanic entrepreneurship helps drive our economic growth. Read More








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