Innovate

78% of Jobs lost the last 3 years in the U.S. were...

Business Start-ups in U.S. at 15 year high

I was talking to my daughter today about how 78% of the jobs lost since 2007 were men's jobs and of how bad that was for men in general. However, if I also follow up that there are now more business start-ups in the U.S. than in the last 15 years right now and that the U.S. epicenter for this right now is Los Angeles.

It's not that every one of these new businesses will succeed, many will fail. But those of you who understand what it is to really be a successful businessman or businesswoman, part of what one learns sooner or later is that failure is a necessary teaching device in order to become successful. So, the real lesson is don't borrow too much money until you prove your idea to yourself. Get your customer base going before you borrow too much (unless you have already done the homework and/or have hired other professionals to do their homework too. And even then, watch out!)

The most stable businesses(no matter the size) are usually started small. In other words it begins in one small shop or garage. The idea proves itself, it starts to grow but the owner-managers from the beginning know every job in that business so well they can teach anyone to do each job(more than once if necessary). So, even if you become the CEO of a large Corporation that you helped start you are still familiar with every aspect of the business and know how to keep it going by yourself if necessary. This is the mark of a real businessman or businesswoman who owns their own business or businesses.

Businesses often get into trouble from overspecialization when the left hand doesn't know what the right hand is doing and vice versa. As long as one person understands the whole thing, the whole process, that business has a chance of always being successful as long as that person is in charge.