Thursday, January 28, 2010

Can Obama Deliver On His Promise to Small Business?

President Obama delivered his first State of the Union address last night, and probably not to anyone's surprise made job growth the centerpiece of his speech.

"We should start where most new jobs do -- in small businesses, companies that begin when an entrepreneur takes a chance on a dream, or a worker decides its time she became her own boss." He also touched on the need and role of innovation in America.

Obama Promises Help for Small Businesses

As is customary following a State of the Union address, the (minority party) Republicans responded - and had the same focus but in different words. "We must enact policies that promote entrepreneurship and innovation so America can better compete with the world. What government should not do is pile on more taxation, regulation, and litigation that kill jobs and hurt the middle class" said Virginia's newly-elected governor Bob McDonnell.
Clearly the state of today's U.S. economy needs more job, with both parties in agreement of this critical fact. Being an entrepreneur is not an easy job, and certainly not a "lottery ticket" with riches waiting in the wings. In fact, some of the best advice that can be given to some contemplating this path is don't start.

To be a successful entrepreneur, especially in today's economy, requires a disciplined focus, a practical approach to combining an opportunity into a viable (profitable) business model and the ability to work very hard to achieve a successful launch. In my experience, almost every successful business venture that I have ever been involved in takes twice as much time, or twice as much money - or both. If you are not prepared for this grim reality, you may not be ready. The myth of becoming your own boss and making lots of money working half days is not entirely false. The truth is that half days are what IS required to succeed today - just pick any 12 hour period daily and you might just get it done!

I have just one question for President Obama. Entrepreneurs are committed to growing their businesses, are you committed to following through and making good on your promises in last night's speech?

Good luck entrepreneurs! It looks like now EVERYONE agrees we need more jobs regardless of political party, now we need you to be successful to help create them!

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