The poll of entrepreneurs states that:

• 61% say the economy is on the wrong track
• Over 70% do not expect to create new jobs in 2010
• 85% think the U.S. is a great country in which to start a business

Right away they discuss the obvious contradiction made by these statistics that even though entrepreneurs believe the economy is on the wrong track and do not expect to create new jobs that it is a great country in which to start a business.  I find this to be very interesting due to the nature of the questions themselves.  When reading a poll like this, you have to ask yourself why.  Why is it that these entrepreneurs answered the way they did?

Let’s look at the subject matter.  The first two questions are about the economy and creating new jobs. What is the guiding force that drives the answers to these questions?  The answer is money.  More specifically, growth and income.  Now that we’ve revealed the basis of these answers, not only does the media remind us daily of the poor state of the economy, but more importantly, it is reflected in our cash flow reports and profit and loss statements.  Also, when growth is rare and flat or falling sales is reported as the status quo, it’s no wonder over 70% of entrepreneurs polled are not planning on creating new jobs. 

But we have to remember that we, as entrepreneurs of small and new businesses are the life blood of our economy. It is up to us to raise the bar and bring growth back into the market. We’ve realized our potential, it’s right there in the poll, “85% of entrepreneurs think that the United States is a great country in which to start a business”.

There you have it.  A large majority of entrepreneurs have their heads in the right place, we believe this market can provide the growth and profitability needed by new companies.  We, as business owners, need to be diligent and stay informed so that we can learn from the failed businesses across the U.S. and use proven business practices, solid business planning, refined financial management, marketing development and strategic planning mixed with our knowledge and unique outlook to grow and strengthen our businesses and the economy as a whole along with it.

Carl Schramm says during this interview that, “Overall…we’re not seeing robust recovery [but] entrepreneurs are the key to [recovery] they are the people who create the jobs”.  He also states that, “In the past seven recessions and recoveries that we’ve seen, it has been … the expansion of employment in brand new businesses. Businesses that are less than five years old, that have been critical in the recovery and the expansion [of the economy]“.

Remember looking at the facts can remind us of the huge potential for your business:

• Up to 80% of new hires come from small and new businesses
• Nearly all net job creation in the U.S. comes from firms less than 5 years old
• 50% of Fortune 500 companies were founded in a recession or bear market
• 600,00 new firms form in the U.S. every year; even during recessions

Read Carl Schramm’s entire State of the Entrepreneur Address and poll results here.

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Last Man Standing

With the closure of Circuit City earlier this year — and Comp USA before that — Best Buy is the only remaining national electronics chain. On its face, that would seem like a good thing for the company. But analysts argue that Best Buy has inherited a lump of coal.

Even in good times, electronics retailing can be a brutally tough business, littered with failures that were unable to survive thin profit margins, ever-falling prices, feast-and-famine product cycles and, more recently, major price pressure from Internet retailers.

Best Buy is “the last man standing, and it’s a good company,” said Andy Hargreaves, an analyst with Pacific Crest Securities. But “consumer electronics is one of the worst businesses in the world to be in.”  Brian J. Dunn, Best Buy’s new chief executive, disputed that characterization.

At the same time, Mr. Dunn, who started as a store salesman at Best Buy in 1985, plans to keep renovating. He acknowledges that being the last remaining chain won’t ensure success.

Mr. Dunn said that Best Buy must account for changing tastes, like the shift away from CDs and DVDs, which have for years been a crucial generator of foot traffic in Best Buy stores. To cope, Mr. Dunn said, Best Buy was in the process of moving those products out of the center of its stores and focusing eyes and attention on fast-growing product areas, like mobile phones and low-cost laptops.

And Mr. Dunn said he wanted to create an atmosphere where consumers were attracted not just to products but also to services that help them master fast-changing technology and configure and connect devices.

“The center of the store will become an expression of the way people connect — connect with movies, music, pictures, to each other — all the things that matter,” he said.

Read the entire story @ NYTimes.com/business