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For the most part yes but certain brick and mortar stores will never be replaced for example clothing type stores. People like to try on clothes before they buy to see how they fit. People don't want to be hassled with boxing things up and shipping things back that don't fit.
Can't say that I would ever buy clothes in a store again... outside of suits and maybe, just maybe jackets.
Past two yeas, all of my clothes, including shoes, were purchased online. With shoes, I will say it is hit and miss. I have a pair that look good, but I hate how they feel. Will keep them since they fit certain outfits, but I more than likely might not have purchased them if I put them on first.
Entrepreneurs require capital to do their work. Appearing on YouTube, no matter how talented one may be, doesn't requires all that much capital. It doesn't require a factory, a warehouse, or significant office space. Giving your business a name, deducting your office space from your taxes, or getting big enough that you might have to hire a couple of underlings does not make one an entrepreneur or I would be one.
Not to say these people you know might not BE entrepreneurs someday. But the first sign of it will be when they attract investors. The second sign will be when they produce a tangible product or service that addresses a need the public has. The third sign would be people clamoring for the entrepreneur to expand into related fields. The irrefutable proof would be an IPO.
And no... Truth is you are letting us know your definition of an entrepreneur.
For example, MANY entrepreneurs don't want investors. You should read about entrepreneurs to understand that many started out with no investors and still don't want investors.
Far as capital, that can be very little. If you create a training product and sell it as a download... you can build capital to create and release more products in the future. Very simple but effective concept.
I've created all types of products (at one time I was releases a product a month... had over 7 people working for me). Outside of when I developed a board game, I never needed a warehouse (even then my "warehouse" was an indoor storage facility).
I created my first product in the 90s and met plenty of entrepreneurs along the way. Some of them went the way you stated, but many simply took another path. All of them were entrepreneurs.
There is an interesting documentary about the Chinese restaraunt business .
Called the search for general tso. They showed how in Chinatown in SF there are these organizations that help set up newcomers with restaraunts. One of these groups was very old like 100 years old or more .No doubt that built in support group helps these owners to succeed .
Another interesting thing is they would study different parts of the country and send these newcomers to other parts of the country where it was cheaper to operate and some were the only Chinese place in town .
In America we are more focused on the individual versus the group .
Another example would be Cambodians that are in the donut business .
That's actually a pretty interesting documentary, I watched it a few months ago. It used to be in Netflix.
I'm not sure why some people always try to force their own definitions, all it does is create unneeded conflict and confusion. An entrepreneur is defined as a person who organizes and manages any enterprise, especially a business, usually with considerable initiative and risk. It does not need to be a new invention or a new service. It may seem like a joke, but someone starting a YouTube page or a blog and makes a profit is an entrepreneur by definition. I follow a few professional blogs and most of them are not millinials.
That's actually a pretty interesting documentary, I watched it a few months ago. It used to be in Netflix.
I'm not sure why some people always try to force their own definitions, all it does is create unneeded conflict and confusion. An entrepreneur is defined as a person who organizes and manages any enterprise, especially a business, usually with considerable initiative and risk. It does not need to be a new invention or a new service. It may seem like a joke, but someone starting a YouTube page or a blog and makes a profit is an entrepreneur by definition. I follow a few professional blogs and most of them are not millinials.
Yeah I really liked it too, I saw it on Netflix as well.
I think that many people only feel comfortable if they can label things or people or put them in a category.
I think i'd go with your definition too. There are some people I watch on Youtube too, but they have other income sources besides Youtube. I doubt there are too many people just making money off Youtube, although I know some do make millions per year with it from some articles i've read. Many many more are using it as one income source or way to promote their brand , products or services.
I think definitions will continue to change as technology,etc changes.
"Millennials are on track to be the least entrepreneurial generation in recent history,” John Lettieri, the co*-founder of the Economic Innovation Group, testified last week before the U.S. Senate. The share of people under 30 who own a business has fallen by 65 percent since the 1980s and is now at a quarter-century low, according to a Wall Street Journal analysis of Federal Reserve data.
Britt Hysen, the editor-in-chief of MiLLENNiAL magazine, claims that "60 percent of Millennials consider themselves entrepreneurs, and 90 percent recognize entrepreneurship as a mentality."
Young people very well may lead the country in entrepreneurship, as a mentality. But when it comes to the more falsifiable measure of entrepreneurship as an activity, older generations are doing most of the work. The average age for a successful startup-founder is about 40 years old, according to the Kauffman Foundation, a think tank focused on education and entrepreneurship.
I had a feeling the media hype about all these millennials running companies was B.S, just like many things portrayed by the media.
I know the WSJ's motives are suspect, and don't trust any kind of analysis they perform. I suppose I'll have to dig up the study and read it.
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My first issue is -- why do they assume that "Owning a stake in a private company" is equivalent to "Entrepreneurship" ?
If I'm a wealthy person and I own a stake in a private company, that doesn't mean that I started the company. It just makes me an investor.
Furthermore, investing in private companies tends to be a wealthy person's game. "Joe Sixpack" owns mutual funds, real estate, and publicly-traded equities. When I think of people I know who have ownership stakes in private companies, it's people in their 50's and 60's who own a share of a local restaurant, car dealership, laundromat, or real estate investment/development company of some kind. So when you have a situation where wealth is being concentrated into fewer hands, naturally you're going to have fewer people investing in private companies.
Last edited by le roi; 07-26-2016 at 09:25 AM..
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