The Entrepreneurial Mind

I must admit I have been feeling a bit concerned, might I say even a bit pessimistic, lately. And sadly, while my time off was wonderful, I did not come back feeling any better about the general state of things.

An economy that should be forging ahead with great speed due to all of the entrepreneurial activity and entrepreneurial aspirations of so many Americans is still showing signs of anemia. The focus always seems to shift to the old economic drivers from the 1900s at times like these. And if attention is paid to the entrepreneurial sector, which now represents about 50% of the GNP, it is only to try and find ways that the government can "harness" it or "manage" it -- they are intent on socializing entrepreneurship.

And where is Arthur Laffer when we need him most? (Actually, that was a rhetorical question as he is moving to Nashville to live in a state with no income taxes and to be near his two sons who both reside here). Cutting taxes, really cutting taxes, does stimulate the economy. And the evidence is mounting from around the world that cutting taxes has a particularly powerful impact on an entrepreneurially-based economy. And while we are at it, let's go ahead and throw away a tax code that offers no benefit for the common good of this country and costs small businesses over $1,200 per employee just for compliance with the current 60,000+ pages of tax laws and rulings.

And then we hear the ominous news about the terrorists. We must never forget that they want to target our economic prosperity and our freedoms. They know that these are the keys to defeating us. That is why I have been calling entrepreneurs the foot soldiers in the war on terror. Through their successes and relentless optimism and passion, we will not be defeated. However, if the entrepreneurial sector gives in to the aims of the terrorists, we will lose the war.

But then my mind wanders away from all of this. I think about the recent graduates from our Entrepreneurship program we sent on their way -- those from May and those from just a couple of weeks ago. So many of them have such optimism for the future and what they can accomplish. I think of my future son-in-law who is so excited about his new job in a small commercial construction company and the potential he sees it can bring him. I think of the young people who will be in my seminar for student entrepreneurs this Fall and the e-mails that they are sending me about their businesses. They are full of so much courage and commitment. And I think of all of the thousands and thousands and thousands of high school students who have their sights on only one thing in their lives -- they want to be entrepreneurs.

That is what makes me get up every morning so full of hope. I think of all of these good things and I can't wait to get to work -- writing my books, teaching my classes, meeting with students and alumni entrepreneurs, writing this blog. It makes me realize how truly blessed I am to have the privilege of teaching and supporting today's young entrepreneurs.

It is time to get working on my first lectures for this new academic year!