Category Archives: Current in Entrepreneurship

The Scholarship of Teaching and Learning Entrepreneurship

USASBE is the national organization for practitioners and scholars of entrepreneurship.  They held their annual conference in Los Angeles January 10-14th, and a wonderful paper was produced after an entrepreneurship education and pedagogy panel.  What is so interesting is that the very best  teachers in the field have refined entrepreneurship education (EE) as developing the mindset, skill set, and practice necessary for starting new ventures.  With EE “at a tipping point”, exploding in growth over the last 30 years, and “making glorious waves”, it has outpaced our understanding of what should be taught by educators and how outcomes should be assessed.

The paper, portions published here, should be read in its entirety at:

http:// journals.sagepub.com/doi/full/10.1177/2515127417737286.

Students experience and learn entrepreneurial skills only through engagement and practicing the various aspects of new venture creation.  The lessons of new venture creation can be used to become better at creativity, team building, resource acquisition, or alleviating problems around the globe. These learned skills and many others provide the opportunity for contribution back to psychology, organizational behavior or leadership, finance or accounting, and sociology, respectively.  Those seeking to operate at the middle or right of the entrepreneurship educator continuum should play a coaching role that guides and inspires students to practice and take action. The coaching role encourages shared ownership, whereas the facilitator role really allows the student to completely own their learning and even develop their learning process.

Here are the panel’s finding for the role of entrepreneurship educators:

This expert panel was chosen via the Delphi Method, comprised of 17 entrepreneurship educators. Among the panelists, were 13 men and 4 women as well as a geographic mix of educators (United States, United Kingdom, Canada, Sweden, and France).  Authors Heidi M. Neck is the Jeffry A. Timmons professor of Entrepreneurial Studies and professor of Entrepreneurship at Babson College;  Andrew C. Corbett is a Babson Research Scholar and professor of Entrepreneurship at Babson College. Formerly, he was the general editor of the Journal of Management Studies.  For more email: hneck@babson.edu.

 

National Entrepreneurship Week Feb. 20-24th

Activities abound – https://www.wininbizweek.com/events = Webinars, workshops, Microsoft in-stores, business model canvas workshop, open houses, productivity-cloud-social media marketing information, productivity help, success road map, innovation ideas, legal tips for small business,cyber security, and women entrepreneurship among some.  

The 11th Annual National Entrepreneurship Week is going to be Epic!  With the launch of Entre-Ed’s America’s Entrepreneurial Schools Initiative and so many schools and colleges gearing up to create entrepreneurial experiences for Every Student, Every Year, we are on our way.

Resources Supporters offer inspiration and advice through articles to help you launch, grow and succeed in your business.

Dun & Bradstreet: Resource center

Business credit can play a critical role in helping aspirational business owners grow their ideas into successful companies. We want to arm entrepreneurs with information that can help them grow and get what they need for their business. We have a range of resources, including a Business Credit Guide, a B2B Podcast, a B2B Insights Blog and a growing B2B Expert Community to help out.

What I Wish I Knew  inspirational stories from the Inc. 5000 list of America’s fastest-growing  companies.

American Dreamers: Spotlight on Entrepreneurs Did you know that 1 in 4 entrepreneurs worked in a family business before opening their own? See stats, and learn from fellow entrepreneurs.

Millennial Founders – How They are Changing the Game  Here at Dell, we’ve talked a lot about the millennial worker and how they – and technology advancements – are forever changing the way we work. They are changing the face of entrepreneurship as well.
8 Ways to Prevent Cyber and Ransomware Attacks It is the major, high profile cyber-attacks that make the news but the fact is 81% of all breaches happen to small and medium sized businesses. 1 in 5 small businesses will suffer a breach this year but the good news is 97% of breaches could have been prevented. Whether you have been in business for a day or more than a decade, you do not want to risk losing your investment, so get the free report and keep your data and the life of your business secure.
BroadMic podcast  BroadMic spotlights accomplished female entrepreneurs, investors and industry leaders in hosted interviews. Founded by Sara Weinheimer, BroadMic gives the next generation of leaders the “picks and shovels” needed to innovate, emboldening them to think big and unleash new market opportunities.
It’s a revolutionary time in brand building Six Factors Accelerating the Growth of Brands in the Digital Revolution
7 Easy Steps to Establish Business Credit Building a strong business credit profile is key to getting the best financing and net payment terms from your suppliers. Learn how in 7 steps.
“Good” is the Enemy of “Best” – The Growing Gap Between “Good” & “Best” In the nuanced, ever-changing world we live in, “good” is no longer enough…
The DIY Guide to Bing Ads: Valentine’s Day 2017 Did you know that annual consumer spending on Valentine’s Day totaled 19.7 billion in 2016? People are buying gifts not just for romantic partners, but also for pets, family and friends. As a small business trying to increase your sales, you can’t afford to miss out on the first major spending holiday of 2017!

Ultimate Guide to Financing your Business in 2017 Over 44 business financing options exist. This guide breaks down your choices in plain english.

Momentum Momentum Momentum Why momentum matters…

Plan Your Business Website in 3 Easy Steps 50 percent of small businesses do not have a website according to a recent blog post by SBA.gov. Learn the 3 steps to plan your business website.

No Matter What Happens to the Economy, Your Business Needs to Focus on These 5 Things Focus on these basics and spend less time on guesswork

Why It’s Never Too Early to Start Thinking About an Exit  You’re probably late if you aren’t thinking about an exit 6 to 12 months prior to the event.

Boost your buiness with new technology eGuide This eGuide will demonstrate how investing in current technology is important for gaining an advantage over your competitors, connecting with employees and increasing your bottom line.

The Eco-Challenge A Millennials (Brief) View on How much it Matters (to us, to brands and consumers, and ultimately our legacy)

6 Reasons to Think Twice Before Starting a Business There are plenty of misconceptions about becoming an entrepreneur, and even reasons against it that you may not have thought about.
Build Your Personal Website and Score that Internship 56% of all hiring managers are more impressed by a candidate’s personal website than any other personal branding tool. However, only 7% of job seekers actually have a personal website. This article shows how you can build your personal brand through a website.
Meet business challenges with modern IT Conquer your business challenges by using technology.
5 Reasons You Need to Work in Corporate America Before Starting a Business More than ever, graduates are forgoing top-tier companies to take the entrepreneurial plunge, but is it the right call? Here are 5 lessons we learned from our first job at Goldman Sachs.
Bar Associations – Opinions on Storing Privileged Data in the Cloud Learn the latest research and option for leveraging the cloud.
Global Entrepreneurship Week is the world’s largest celebration of the innovators and job creators who launch startups that bring ideas to life, drive economic growth and expand human welfare. During one week each November, GEW inspires people in more than 170 countries through local, national and global activities designed to help them explore their potential as self-starters and innovators. Thousands of activities, from large-scale competitions and events to intimate networking gatherings, connect participants to potential collaborators, mentors and even investors—introducing them to new possibilities and exciting opportunities. Global Entrepreneurship Week began in 2008 and is an annual campaign led by the Global Entrepreneurship Network. https://genglobal.org/
Every year, the Global Entrepreneurship Congress gathers together thousands of entrepreneurs, investors, researchers, policymakers and other startup champions from more than 170 countries to identify new ways of helping founders start and scale new ventures around the world. At the weeklong GEC, delegates make connections, gain insights, learn about new research, and leave ready to renew their programs, policy ideas or firm founder skills.

GEC 2018 takes place in Istanbul, Turkey — a thriving startup hub that is both an economic and cultural cornerstone of Europe and Asia.  https://genglobal.org/gec/history

Da Vinci’s Faire Opportunity, Bradenton FL, Feb. 10th


Wonderful entrepreneurship experience coming to Bradenton, FL on Saturday, February 10th at the Manatee Technical College, the 2018 version of BarCamp, now called Da Vinci’s Faire promises to be the best yet.  If you are anywhere in the area, have a look at https://www.eventbrite.com/e/ davincis-faire-stem-manatee-barcamp-tickets-34813240339 and http://davincisfaire.com and sign-up for this fantastic event.  Doors open at 8:15 AM and inside you will share, learn, and grow!  It is a community of passionate learners, entrepreneurs, creatives and brilliant disruptors.  We’re all  living in a new renaissance, one which combines science and technology, art, community and passion.

Special display opportunities are available for makers, inventors, robotic enthusiasts and cool science & engineering projects. There is no cost for student robotics or drone teams. The event will include the following:

Manatee STEM Competition

  • Displays of today’s coolest technologies, shared ideas, open conversations
  • Hands on creative opportunities for all ages – bring your stuff to share

Every attendee – no matter how old or young – has a story to tell and an expertise to share. Come prepared to learn and teach as we all grow together. Register to attend today…and you can meet this blog’s editor, Clint Day, who will have a table and be offering his entrepreneurship quick study guides, the books Set Your Own Salary and Understanding Lean Startup, and as much talk as you can stand.

Manatee Technical College is located 6305 on State Road 70 West of I-75, Bradenton, just South of Tampa FL. Join us to experience science, technology, art, community, passion and most of all… tech entrepreneurship.

The Start Is More Important Than the Success.

Since the advent of evidenced-based (aka lean startup) entrepreneurship, the brightest minds in entrepreneurship have told us to “just start”.  Phil Knight built an athletic giant using the words “just do it”, and Babson College, the holy grail for academic entrepreneurship, teaches “CreAction”.  CreAction is starting a new business as you adjust along the way.  James Clear, national blogger, expands the concept into life in general, a reaffirmation for the best way to start a new venture.  Let the user, the ultimate adopter tell you how to solve their problem, what they need to fill their demands, and ways to improve their daily life.

No entrepreneur built businesses more prolifically using the “Just Start” than Sir Richard Branson.  Inc. Magazine wrote his approach to Just Do It at https://www.inc.com/oscar-raymundo/richard-branson-young-entrepeneurs.html.

Here is Clear’s article worth a read:

In 1991, Lindsay Davenport played in her first professional tennis match. She was 15 years old.  Over the next 20 years, Davenport would go on to have one of the greatest tennis careers in recent history. She won three different Grand Slam titles. She won the 1996 Olympic Gold Medal. She was ranked the Number 1 female tennis player in the world eight different times. In total, Davenport earned over $22 million in prize money throughout her career.

I had the chance to meet Davenport at the 2012 US Open. Later that night, she fielded some questions from our group and I asked her this…

“Lindsay, sports can teach people a lot of lessons. What lessons did you learn during your time as a professional tennis player that you didn’t learn as an amateur?” Full disclosure: I had a personal motive with this question. I played baseball in college, but not professionally. So I wanted to know, “What did I miss?”

Davenport’s first response was to talk about how she had to grow up fast. She mentioned the power of the media and learning to live her life in front of a crowd. But then she shifted gears and talked about improving at her craft and the lessons of competition, hard work, and perseverance. Those things, she said, were learned long before she became a professional.

In other words, to learn about what it’s like to live as a professional athlete, you need to be a professional athlete. But to learn the lessons of playing sports, you just need to play your sport.

Excellence Isn’t Required for Growth

Our world is becoming more and more obsessed with comparison and validation. The style of thinking that is becoming dangerously common is “If you can’t be number one or number two, then you might as well not play at all.” (This belief was actually celebrated in my MBA program, which may or may not surprise you.)

But according to Davenport, you don’t need to be a professional to learn the most important lessons in sports. You just need to bust your butt as an athlete, regardless of the level you’re playing at. I’d say it’s that way in the rest of life as well. Mastering your craft isn’t nearly as important as pushing yourself.

To put it another way, you’ll learn more from the process of pursuing excellence than from the products of achieving it.

It’s More Important to Start, Than to Succeed

I think a lot of what people call intelligence just boils down to curiosity. —Aaron Swartz

What if the choice to be curious was all that was required to become smarter, stronger, and more skilled? What if the willingness to try something new, even if it felt uncomfortable, was all that it took to start the slow march towards greatness?

  • Are you curious enough to get in the gym and try it, even if you’ll look stupid?
  • Are you willing to be vulnerable and put your skin in the game to start your own business?
  • Are you eager enough to improve your work that you’ll battle through the frustration of producing something mediocre?

It all boils down to this: Whether you’ll end up being the best or the worst, are you willing to start? The more I look at things this way, the more I believe that the willingness to start is the littlest thing in life that makes the biggest difference.

Step onto the field. Stand up in the meeting. Raise your hand in class. Get under the bar. Walk up to the podium. Ask the first question.

Take a risk, get started, and contribute something. To your team, to your family, to your job, to your community. Whether or not you end up being number one in the world is irrelevant. Most of the time, the value you provide isn’t nearly as important as pushing yourself to provide it. This is especially true at first.

Having the courage to start is more important than succeeding because the people who consistently get started are the only ones who can end up finishing anything.

Get Started: Life Isn’t a Dress Rehearsal

I often write about what it means to live a healthy life. I can’t think of any skill more critical to the active pursuit of a healthy life than the willingness to start. Everything that signifies a happy, healthy and fulfilled existence — strong relationships, vibrant creativity, valuable work, a physical lifestyle, etc. — it all requires a willingness to get started over and over again.

Take note: being the best isn’t required to be happy or fulfilled, but being in the game is necessary. Life isn’t a dress rehearsal. Only one person lives in the spotlight, but everyone benefits from stepping on stage.

Which stage will you step onto? What game will you play? How will you get started?

More by James Clear at JamesClear.com

Self-Employment and the Attributes of the Dream Job.

Gallup’s The Dream Job covers the key attributes employees look for in a job. These are:

  1. the ability to do what they do best
  2. greater work-life balance and better personal well-being
  3. greater stability and job security
  4. a significant increase in income
  5. the opportunity to work for a company with a great brand or reputation

This list nicely illustrates the trade-offs people make when they become self-employed.

The top reasons people cite for becoming self-employed are (data from theMBO Partners State of Independence study):

  1. The ability to control their own schedule
  2. Increased flexibility
  3. Like being my own boss
  4. Do what I love
  5. Work on projects and tasks I like
  6. Earn more money

These two lists almost completely overlap, with the obvious exception being “greater stability and job security”.

Given these lists, it’s not surprising that the self-employed consistently tell us in interviews they are trading job security in exchange for greater work autonomy, control and flexibility.

Most self-employed see this trade-off as being well worth it.

The image comes from the website Broke-Ass Stuart, which has the tagline “you are young, broke and beautiful”.

 

Current Corporate Innovation: How to Find the Next Big Thing

Newswise — I’ve had the pleasure of discussing and in some cases collaborating on the innovation programs at a number of corporations. Clearly, on the whole, changing an established corporation into an innovation powerhouse isn’t what any reasonable person would call easy. If it was, we’d see more of it.

That said, certain things are easy. If you’re like most managers, you want to get going on the hard things while scoring some quick and easy wins to build momentum and morale.

In this piece and its sequel, I’ll offer you some ideas on how to do this across three major aspects of running a corporate innovation program — Finding the Next Big Thing, Funding the Next Big Thing and Forming Innovation Teams. I’ll start with some observations on what I’ve found is typically hard vs. easy for the corporation and close with ideas on how to create wins.

First things first: new ideas.

Finding the Next Big Thing

How do you identify disruptive new ideas that will drive organic growth and renew the corporation?

The Hard Thing: The hard thing is that your solution is already awesome. The corporation that’s so big it’s hard to change has gotten big by doing something well. The catch is that while Blockbuster Video was great at stocking video cassettes, Netflix disrupted them by fundamentally rethinking how they could deliver value to the customer, rather than by outdoing Blockbuster at what they did well. BMW has wonderfully efficient gas engines, and they’re great at making them even better. Where do you think they should focus now?

Concerning their industry-leading laundry detergent, Tide, former Procter & Gamble CEO A.G. Lafley tells the story of how they had to go out and watch consumers wash clothes to realize their next big innovation might come from packaging innovations like better containers and capsules, as opposed to making their already excellent formula even better.

Finding the next big thing likely won’t come from doing what you already do even better — but it isn’t as hard as you might think.

On that note, let’s move on to The Easy Thing.

The Easy Thing: The easy thing is that all you need to do is look at your existing customers a little differently. Finding the next big thing comes from diligent curiosity. In my experience, cultivating that curiosity is relatively easy, it just takes a little instruction and practice. We can substantially initiate that instruction over the next ~60 seconds.

The basic idea is to explore what fundamentally matters to the customer or user, independent of your particular solution you’re already offering. I’ll use the term “problem scenario” to describe this fundamental need, job or desire that exists independent of your particular offer.  In the P&G detergent example, some example “problem scenarios” might be:

Cleaning Clothing

Selecting the Right Soap and Cleaning Process

Dispensing and Measuring the Soap

Correctly Adding the Soap to the Washing Equipment

Periodically, it’s critical to look at your target problem scenarios objectively and fundamentally by not only asking your customers open-ended questions, but also observing them engaged in your target problem scenarios.

For example, when A.G. Lafley tells the story of P&G’s investigation about Tide, they had previously asked customers about Tide’s current packaging and the customers generally said it was good. It was only when the P&G teams went out to watch their customers do laundry that they realized many of them were keeping a flathead screwdriver on hand to open the package (not great!).

This is where alternatives come into play: Make sure you understand the most prevalent, most preferred alternatives to all your relevant problem scenarios. If your customer’s current alternative for dispensing your (or a competitor’s) soap is a flathead screwdriver, then you may be on to your next big thing, or at least a valuable thing. I do this kind of work all the time, and please believe me when I say there are lots of flathead screwdrivers out there.

Now we come to the exciting part: value propositions. With an understanding of the relevant problem scenarios and alternatives, you have a highly testable basis for evaluating innovative new value propositions. You just need to ask yourself “Is this particular idea of ours [the value proposition] better enough than [the current alternative] at delivering on [some important problem scenario] that the customer would [buy it, use it, pay a premium, etc.]?” Let’s call a potential answer to this question a “value hypothesis.” The next step is to test the value hypothesis.

Is changing a whole corporation over to thinking this way easy? No. However, getting a few curious, energetic managers doing it and scoring early wins is relatively easy and infinitely doable, and it will pave the way for strong work on organic growth and innovation.

That’s where I recommend you start when you’re Finding the Next Big Thing. For the next steps — Funding the Next Big Thing and Forming Innovation Teams — tune in the first week of January.

I hope you’ve found some things you can use here. I love hearing from other practitioners — please get in touch anytime at cowana@darden.virginia.edu.

by Alex Cowan  Cowan is an expert in digital innovation, agile and lean methodologies, and entrepreneurship. He teaches multiple courses in  the Univ. of Virginia’s Darden School of Business, Technology and Operations Management.

 

Why Are Food Franchises So Popular?

I’d like you to grab a pen and paper and quickly write down the first three franchises that come to mind.  When you’re done, look below to see if any of these iconic franchise brands are on your list:

  • Subway®
  • McDonald’s®
  • Dunkin Donuts®
  • Pizza Hut®
  • Burger King®

If any of them are on your list, you just helped answer one of the reasons why food franchises are so popular. If none of them are on your list, I’m surprised. That’s because those franchises have incredible brand recognition, which is one of the reasons food franchises are so popular. Now, let’s see if the next reason makes sense.

People Need to Eat

It’s true—people do need to eat. That’s another reason why food franchise opportunities are so popular. People figure they can’t lose if they buy a food franchise.

But in this case, it’s where they eat along with how they eat that matters. Both of those things have a lot to do with the revenue you’ll be bringing in if you own a food franchise.

For example, sometimes consumers need a fast meal. Many food franchises can capitalize on that type of consumer. As a matter of fact, there’s an entire segment that targets busy consumers who need a quick meal: QSR, or Quick Service Restaurants. To see just how dominant food franchises are in this segment, check out the Top 50 Quick Service Restaurants.

However, not all consumers need to eat fast. These consumers tend to go with healthier choices when they aren’t eating at home. But there are plenty of food franchises that cater to people who are trying to eat better.

Now that you know that brand recognition and market need are two reasons why food franchises are popular, let’s see if a food franchise could be in your future.

Owning and Operating a Food Franchise

Food franchise ownership is not for the meek.  Reasons include:

  • Extremely long hours
  • High employee turnover
  • Expensive real estate
  • Fluctuating food costs
  • Extremely long hours*

*That’s not a misprint. I wrote it twice as a way of emphasizing the fact that you’ll be at your business a lot. And how do I know? Because I worked in food-service for 15 years.

There’s something to be said about working a 14-hour day, sleeping for 5-6 hours, and then coming back the next day to do it all over again. Six days a week.

But on a positive note, when it’s your business, you’re probably not going to mind the long hours as much.

Employee Turnover

As the owner of a food franchise, there’s going to come a time when you’ll ask yourself this question:

Why does it seem that whenever I get a good, hard-working employee, they end up leaving?

Unfortunately, I don’t have an answer for you. And believe me, it’s a question that’s been asked hundreds of thousands of times over the years.

The bottom line is this: The food-service business has extremely high turnover. If you choose to become a part of the industry, it’s something you’ll always have to deal with.

But, here’s the good news: If your franchise business is thriving, the high-turnover rate will be a little easier to swallow.

Your Location

The importance of having a great location for your food franchise can’t be overstated. It will have to be in a high-traffic area. And it will also have to be located in a spot that’s visible from the street.

You’ll also need to have ample parking for your customers, and enough space where they won’t feel closed in. As a result, the space you rent will cost a pretty penny in most cases.

Having said that, the law of supply and demand—combined with your specific geographical area—will end up determining the price you pay. Generally speaking, a retail space in a Boston-area shopping center is going to cost more than one in Midland, Texas.

Owning a food franchise means you’ll work really hard, you’ll go through a lot of employees, and your operating costs could be high.

But, if you’re prepared for some of things you’ll have to deal with in food service, the rewards can be high. This is especially true if you’re able to secure more than one location.

About the Author:

FranchiseKing
The Franchise King®, Joel Libava, is the author of Become a Franchise Owner! and recently launched Franchise Business University.

Have Big Idea? Want to Change the World? Start a Business

 

If you want to change the world, you may want to start a business.

You can find a million other examples of entrepreneurs who started businesses with an opinion instead of a spreadsheet. From Steve Jobs at Apple and Yvon Chouinard of Patagonia to my friend in Los Angeles who believed the world needed a different kind of dough nut.

I know what you’re thinking: Business is that boring professor armed with spreadsheets and calculators, lecturing you on exciting subjects like “Carefully Evaluating the Competitive Landscape” and “How to Exploit the Market to Produce the Highest Return on Investment.”

For some people, business is precisely that, and paying attention to such things is a smart thing to do if you want to open a new dry cleaner or some other worthy enterprise.

But business doesn’t have to be just that. The most interesting businesses, at least to me, are the ones whose founders had ideas they wanted, or even needed, to share. And instead of turning to art, science or politics to share them, they used a thing called a business to do it.

Let me tell you a little secret: I never did any market analysis to determine whether there was a possible niche for a Sketch Guy, or what kind of return on investment I could get from using Sharpies to sketch harebrained ideas on card stock. I just had a strong feeling: People needed a simpler way to talk about money. And that was the closest thing I ever had to a business plan.

My two eldest daughters are starting to think about what they’re going to be when they grow up. They’re concerned about the impact of climate change, and they have strong opinions about what should happen to stop, or at least slow, global warming.

As a father, I’m proud of their dream and want to encourage it. They could be environmental scientists, professors, policymakers, lobbyists, cinematographers or journalists. The list goes on and on.

But if they can get past Dr. Spreadsheet, they could also be entrepreneurs, and it may be an even more successful and fulfilling path.

Courtesy of Carl Richard, CFP, financial author in the N. Y. Times, “The Sketch Guy”.

Trump Shifts Labor Focus from Worker to Entrepreneurship.

Even by the standards of the Trump era, one of the more unusual departures from recent Washington practice came in June, in a case before the Supreme Court involving worker rights.  The Trump administration felt so strongly on the issue — that employers can force workers to forfeit their rights to bring class-action lawsuits — that it reversed the government’s position, something that has rarely happened in a pending case.

President Trump surrounded by small-business leaders in the Oval Office in January as he signed an executive order on reducing regulations. Credit Stephen Crowley/The New York Times

“What’s pretty unprecedented is that they came to a different conclusion in the Supreme Court case,” said M. Patricia Smith, the solicitor at the Labor Department under President Barack Obama. (A Justice Department spokesman said that every administration sometimes departs from the position of its predecessors in new Supreme Court cases.)

It is one of a series of actions that have reversed course on rights and protections for workers. The administration had proposed a 40 percent cut for the government agency that conducts research into workplace hazards, undone Obama-era guidances on enforcement of employment laws and sought to eliminate a roughly $10.5 million program that helps some unions and nonprofit organizations — whose efforts many business and free-market groups consider nettlesome — to educate workers on how to avoid injury and illness.

Championing the American worker was a central theme of Mr. Trump’s election campaign. He made inroads into the traditionally Democratic union vote, and echoed the words of labor leaders on themes like trade, infrastructure and offshoring jobs.

That a Republican administration would nonetheless pursue a business-friendly labor policy is not unexpected. But beyond partisan politics, its record on worker issues reflects a consistent Trump worldview: that entrepreneurship is the highest economic calling and the entrepreneur is the economic actor most deserving of respect.

Mr. Trump has framed his own career as an example of entrepreneurship’s risks and rewards, and has made entrepreneurship a key talking point as president. In nominating officials to serve in his cabinet, he has frequently highlighted their entrepreneurial accomplishments. He has praised a bill promoting women in entrepreneurship and predicted that “millions of people will be lifted out of poverty” thanks to a World Bank entrepreneurship initiative his administration supported.

“I’m very inspired to be in the company of such motivated entrepreneurs — people that I really respect, because I know what it takes; I’ve been there,” Mr. Trump said at a White House smallbusiness event in August.

Donald J. Trump in 2004 as one of his apartment projects went up in White Plains. He has framed his career as an example of entrepreneurship’s risks and rewards. Credit Susan Stava for The New York Times

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