Entrepreneurship is like a marathon, and not just because it isn’t a sprint. Think of it: Thousands of companies set out for an achingly long test of their strategy, their preparation and, most of all, their ability to endure. For all companies, the start is the same—everyone is equal before the starting gun goes off. But soon some break free of the masses and move ahead; others fall behind.
We at Entrepreneur Media celebrate this race, supporting the nobility of the struggle entrepreneurs face each day. That’s why I’m pleased to announce that this year we will launch the Entrepreneur 360™ Performance Index, a study of the best American entrepreneurial companies.
Make no mistake: This isn’t a popularity contest, nor is it a one-dimensional listing based on a single factor like revenue or growth. We will produce a list of business leaders who demonstrate 360 degrees of relevance to the core tenets of entrepreneurship. We are embarking on a mission to quantify previously qualitative areas: effectiveness and significance. Which entrepreneurs are running their businesses most successfully? And which are doing the most important work?
Such a ranking—one that captures the spirit and reality of entrepreneurship—would not have been possible in the past. But today we have a rich well of resources from which to draw, including complex business data, advanced analytics and social media. We will also pore over company financials, judging the sustainability of each enterprise, both on its own and relative to its peer group.
Tapping these and other third-party resources, we can analyze entrepreneurship in terms of effectiveness and significance. For the first time, we can truly measure how innovative a company’s products and services are, what customers and competitors are saying, plus the results a business generates. In short, we can see how relevant a company is, and where it fits within the entrepreneurial ecosystem.
It’s a complex undertaking, but we are confident our extensive research and proprietary algorithm for advanced analytics will yield the most comprehensive analysis of true entrepreneurship. For this, we need your input and participation. We want to take the time to learn what makes each of your individual businesses great, through the lens of the Entrepreneur 360™. To find out more and learn how you can participate, go to entrepreneur.com/360.
Business is indeed a marathon, with victories large and small, pain, pivots, failures and triumphs. All of us at Entrepreneur Media look forward to capturing what you do as innovators and sharing it with the world.