Like Father, Like Son?
Entrepreneurial history repeats itself.
URL:
http://www.entrepreneur.com/magazine/entrepreneur/1997/may/14198.html
A recent study conducted by Ohio State University gives new
meaning to the notion that parents set strong examples for their
children. The survey, analyzed by economists Thomas A. Dunn and
Douglas Holtz-Eakin at Syracuse University, reveals that
parents' actions have a direct influence on their kids becoming
entrepreneurs.
According to the findings, sons were nearly three times as
likely to become self-employed if their fathers were self-employed;
32 percent of those with entrepreneurial fathers started a
business, compared with only 12 percent of sons without
self-employed fathers. Similarly, 24 percent of daughters with
entrepreneurial mothers also donned entrepreneurial hats, while
just 13 percent of daughters whose mothers weren't
self-employed did so.
Some might say it's simply a case of children following in
their parents' footsteps. However, the data found that among
sons with entrepreneurial fathers, only 10 percent entered into a
business in the same line of work--virtually identical to those
sons whose fathers weren't self-employed.
Likewise, the study also suggests there's little truth to
the idea that children of entrepreneurs start more businesses
because they receive funding from their parents. What's more
likely the case is the attitudes entrepreneurial parents impart,
such as the value of being your own boss, or specific talents they
pass on, such as management or interpersonal skills, are what lead
their children into business. In other words, it's the
"human capital," says Dunn, not the financial capital,
that makes the difference.
A pizza-ordering service grows byte by byte.
A scene from the movie "The Net" could end up changing
the way pizza shops--and possibly other retail and service
businesses--market their products. After entrepreneur Tim Glass
watched the movie and saw Sandra Bullock order pizza via the
Internet without ever leaving the comfort of her computer chair, he
knew he had to get a piece of the pie.
"I was trying to come up with an everyday application for
the Internet, and after I saw [that scene], I thought everyone
could relate to that and it could make a really good
business," says Glass, 38.
Glass' Seattle-based company, CyberSlice Inc., isn't
fiction anymore. After researching the market, developing a
software application and securing agreements with more than 1,000
pizzerias in several major markets, Glass launched the savory site
(http://www.cyberslice.com)
in December. Pizza fans input their addresses to call up menus from
restaurants in their areas. Once an order is placed, Glass'
patented software translates it into a voice-mail message, rings up
the pizzeria, relays the order and then returns an e-mail message
confirming it.
Glass is the first to admit the idea is slightly ahead of its
time. "We don't expect to see a tremendous flow of orders
today or tomorrow," he says, "but what is important is
that we know [Internet commerce] is going to be huge sometime in
the future, so we got in early to gather merchants and build the
company."
What are business owners reading these days? The top 10 business
books at press time (based on net sales) were:
1. Ernst & Young Tax Guide 1997, $14.95 (John Wiley &
Sons)
2. Wall Street Money Machine, by Wade Cook, $24.95 (United
Support Association)
3. J.K. Lasser's Your Income Tax 1997, by The J.K. Lasser
Institute, $14.95 (Macmillan)
4. Millionaire Next Door: The Surprising Truth About Wealth in
America, by Thomas J. Stanley and William Danko, $22 (Longstreet
Press)
5. The Dilbert Principle, by Scott Adams, $20
(HarperBusiness)
6. Dogbert's Top Secret Management Handbook, by Scott Adams,
$16 (HarperBusiness)
7. What Color Is Your Parachute 1996, by Richard Nelson Bolles,
$14.95 (Ingram)
8. Personal Finance for Dummies, by Eric Tyson, $19.99 (IDG
Books Worldwide)
9. Investing for Dummies, by Eric Tyson, $19.99 (IDG Books
Worldwide)
10. Financial Peace, by David Ramsey, $21.95 (Viking)
CyberSlice Inc., 300 Elliott Ave. W., #316, Seattle, WA
98119, (http://www.cyberslice.com)
Copyright ©
2009 Entrepreneur.com, Inc. All rights reserved.
Privacy Policy