Knowledge@W. P. Carey -- Entrepreneurship

Give Me the Bad News: Successful Entrepreneurs Need Negative Feedback

Wed, 14 Jan 2009 16:42:48 EST

What does it take to be a successful entrepreneur? Tom Blondi, who has been involved with several start-ups, says it takes more than a great idea. Much as you might like the cheerleaders, what you need more is someone who will ask tough, specific questions. Blondi spoke at the Spark IT Invitational, a conference sponsored by the W. P. Carey School's Center for the Advancement of Business through Information Technology.

Eric Crown: The Swirling Computer Business of the Roaring '90s

Wed, 05 Nov 2008 16:30:51 EST

For alumnus Eric Crown, his induction into the W. P. Carey School's Hall of Fame is sweet vindication. While pursuing a degree in computer information systems, Crown, 46, wrote a paper on a potential mail-order business that would sell parts for the burgeoning computer market. He got a C on the assignment because, he recalls, the professor didn't deem the idea viable. However, two years after his 1984 graduation, Crown started just that business. Today Insight Enterprises, Inc. has clients in 170 countries, counts more than 4,000 employees and notched $4.8 billion in revenues in 2007.

The Profile of a Top Entrepreneur: Commitment to Quality, Customer Service and Employees

Wed, 08 Oct 2008 18:46:56 EST

What are the characteristics of companies that succeed, even in tough times? The stories behind the five winners of this year's Spirit of Enterprise Awards are instructive. These companies are focused on quality, dedicated to excellent customer service, and committed in a deep way to their employees and communities. The mission of the Spirit of Enterprise Center, which presents the awards, is to honor, assist and educate entrepreneurs. The 12^th Annual Spirit of Enterprise Awards does just that.

'Founders at Work' Chronicles the American Idols of Startups

Wed, 24 Sep 2008 16:12:58 EST

Tim Brady, founder of Yahoo … Mitch Kapor, founder of Lotus Development … Max Levchin, founder of PayPal … Steve Wozniak, founder of Apple. All are legends in the technology world. But once upon a time, they were regular people. Where did they get their 'big ideas'? How did they muster the confidence to convince investors to back them? What made them overcome incredible odds to become rich and successful? "Founders at Work: Stories of Startups' Early Days" offers answers to these questions and more. Author Jessica Livingston is a founding partner at Y Combinator, a seed-stage venture firm and organizer of Startup School. Her research and her interviews with 32 startup founders of successful technology firms yields a glimpse of the earliest days of startups that have become part of today's business lexicon.

A Business Owner Who Survived the World Trade Center Attacks Writes About Preparing for Disaster

Wed, 10 Sep 2008 17:31:05 EST

September 10, 2001, was the first and last business day for a small pizza parlor in lower Manhattan; without business interruption insurance, the owners did not have enough funds to cover fixed expenses until they could repair and reopen the restaurant following the 9/11 attack on the World Trade Center. "Be Prepared," the Boy Scout motto, packs a lot of wisdom for small businesses, writes contingency planning expert Donna Childs. In her new book, "Prepare for the Worst, Plan for the Best: Disaster Preparedness and Recovery for Small Businesses," Childs explains what small businesses should do to survive a crises.

Rule-Breaking Entrepreneurs Share Stories of Success

Wed, 27 Aug 2008 16:54:52 EST

In 1949 when Shirley Schmitz graduated from Arizona State University women leaders were an anomaly in business. Now 80, she is charismatic and sharp, and could easily fill a book with insights earned during her own high-octane career. But instead of dwelling only on how she made it, Schmitz convinced 11 other entrepreneurs -- all brash rule-breakers from a range of industries -- to spill the beans, too. Her book, "Guts, Imagination, Vision; Conversations with Innovators-Changemakers," will be launched at the Spirit of Enterprise Award luncheon on September 25.

Oren Harari: Avoiding the Perils of the 'Copycat Economy'

Wed, 30 Jul 2008 14:55:07 EST

What's riskier? Staying in the pack or venturing cautiously out on a limb? Management professor and author Oren Harari showed the audience at a recent conference hosted by the National Association of Women Business Owners the perils of the "copycat economy," then showed them how to rise above commodity hell.

2008 NAWBO Conference: It's a Man's World -- Or Is It?

Wed, 16 Jul 2008 14:08:49 EST

Does the world of business -- in the past dominated by men -- pose any special challenges for women? With one startling exception, a selection of presenters and attendees at the recent annual meeting of the National Association of Women Business Owners told a video crew from Knowledge@W. P. Carey that "yes, it's an issue, but you can overcome it." Here, prominent female business researchers from the faculty of the W. P. Carey School offer their points of view.

It's Not About You: Navigating Cultures in the Global Market

Thu, 26 Jun 2008 16:10:47 EST

It's important to understand the differences between cultures in order to succeed when doing business across cultural lines, said diversity and inclusion expert Christine French, speaking at the annual meeting of the National Association of Women Business Owners (NAWBO). Even if you are not doing business outside your country, your customers without doubt come from a range of cultures. French is the founder and president of Phoenix-based Global Diversity Consulting LLC. "My mantra is this: it's not right or wrong, it just is," she said. "How you deal with it can make a difference. Don't judge."

Video: Women Entrepreneurs Discuss Challenges and Opportunities

Thu, 26 Jun 2008 16:10:03 EST

Women who become entrepreneurs don't miss the corporate glass ceiling, but while some women business owners say that they do not encounter gender bias in the business world, others complain that they have to demonstrate an extra level of excellence and competence to men and women alike. At the 2008 National Association of Women Business Owners (NAWBO) conference held in Phoenix, Knowledge@W. P. Carey asked women entrepreneurs to talk about their challenges and opportunities, and share their thoughts on gender-based conferences.

Exit Strategy: Preparing for the Sale of Your Business

Thu, 26 Jun 2008 16:10:27 EST

Small-business owners say they love the freedom, flexibility and earning potential of working for themselves. But Joel Martin, the former owner of a $20 million New York-based advertising agency, said no one should go into business without an exit plan. Even if you've only begun your venture, there are ample ways to prepare for its sale, she told members of the National Association of Women Business Owners (NAWBO), who were in Phoenix for the group's 30th annual national meeting.

Failure Is an Option: How Learning from Setbacks Can Lead To Success

Thu, 26 Jun 2008 16:10:38 EST

The inspiring expression, "failure is not an option" reportedly evolved from a statement by Jerry C. Bostick, a flight controller who helped bring the space-stranded astronauts of Apollo 13 safely back to earth. While the mindset behind it -- to never give up -- still applies, the adage itself does not fit the innovative, mutable environment most businesswomen face today, according to entrepreneur Rita Davenport. Davenport was speaking at the NAWBO/Wells Fargo Trailblazers Award luncheon.

Social Entrepreneurs Develop Cleaner Alternative to African Wood-Burning Stoves

Wed, 16 Jul 2008 14:08:49 EST

On his first trip to Ghana in September 2006, Mark Henderson traveled through countryside that was lush, but obscured with haze. Some of the haze was carried in by the Harmattan -- a dry and dusty West African wind that blows in from the Sahara at that time of year. But the rest, Henderson learned, is produced by the wood- and charcoal-burning stoves that villagers use for cooking. Henderson, professor of engineering at Arizona State University's Polytechnic campus, is co-director of GlobalResolve, a social entrepreneurship program at ASU connecting students with projects designed to improve the lives of the rural poor in developing countries. What if the group could come up with a cleaner alternative to the wood-burning stoves?

Of Mice and Money: Entrepreneurs Need Focus, Communication Skills

Wed, 30 Jan 2008 17:18:46 EST

Two entrepreneurial CEOs shared some of the challenges they have faced and lessons they have learned with attendees at "Entrepreneurship: From IP to IPO and Beyond," a seminar presented by the W. P. Carey MBA Executive Program. Entrepreneurs and their companies, the speakers said, need optimism, luck, communication skills and focus.

From Pork Bellies to Pigskin: An Online Futures Market for Sports Tickets

Wed, 30 Jan 2008 17:18:46 EST

W. P. Carey professors Stephen Happel and Marianne Jennings are free-market defenders. For almost two decades they have evangelized the fundamentals of supply and demand, specifically in the secondary market for event tickets. Now a new company has done what Happel and Jennings proposed in a paper for The Cato Journal in 2002. YooNew offers a website that turns tickets into commodities that can be traded on a futures market.

'Starbucked': Background Reading for a Corporate Reorganization

Mon, 14 Jan 2008 19:26:08 EST

Coffee juggernaut Starbucks is facing new challenges in the American-style café business that it created around the globe. Competition is increasing; even McDonalds -- where the ambience is not exactly Starbucks -- is adding the job title "barista" to its stores. Meanwhile, the "Starbucks Experience" itself is showing signs of losing some of its charm in some places. Last week, Starbucks Coffee Company announced that it was bringing back its founder, Howard Schultz, as CEO. Schultz pledged to refocus the company on the vision that changed the morning "joe" habits of the world. Consider Taylor Clark's engaging and critical new book, "Starbucked: a Double Tall Tale of Caffeine, Commerce and Culture," as background reading for the unfolding Starbucks story.

Rex Maughan: Forever Living Products Founder Turns to Philanthropy

Wed, 05 Dec 2007 15:27:58 EST

He's a billionaire entrepreneur with operations in 125 countries, a host of philanthropic projects worldwide and frequent flyer miles to match, yet longtime Arizonan Rex Maughan is a surprisingly simple man. The founder, chairman, president and CEO of Forever Living Products reacted with characteristic humility recently when he learned that his alma mater, the W. P. Carey School of Business, had named him to its "Alumni Hall of Fame" for 2007.

Entrepreneurs Pursue Passion and Profits

Wed, 29 Aug 2007 16:57:33 EST

Self-confidence, persistence, flexibility, and an affinity for success are the hallmarks of an entrepreneur: A person who'll take an idea and run with it -- frequently to the bank. At a luncheon event on September 26, the W. P. Carey School of Business will announce recipients of the 2007 Spirit of Enterprise Awards.™ Here, a selection of 2006 winners share their business stories, each in its way a tale of the heart as well as the brain.

Kitchen-table dreamers find support system in Ladies Who Launch

Wed, 06 Jun 2007 15:45:30 EST

Is there something different about female entrepreneurs? The authors of "Ladies Who Launch: Embracing Entrepreneurship & Creativity as a Lifestyle" say yes. Women's entrepreneurial success (1) doesn't have to start with a traditional business plan, (2) is a process that can and should be enjoyed, and (3) has everything to do with feminine intuition and nurturing skills, according to authors Victoria Colligan and Beth Schoenfeldt.

Family values: Building a billion-dollar business

Wed, 28 Feb 2007 14:59:34 EST

Risk management is the major change that has swept the construction industry in the past decade, according to Robert G. Hunt, chairman and chief executive officer of Hunt Construction Group. In a speech before the W. P. Carey School's Economic Club of Phoenix, Hunt described how a family business that is one of the largest construction firms in the country builds success.