Tuesday, December 7, 2010
What Grows an Economy? …. PIE? ….. X-Factor?
It further points out “Carl Schramm, who heads America’s top entrepreneurial think tank, the Ewing Marion Kauffman Foundation, has a stunningly good insight into what causes an economy to grow. Growth, he says, correlates directly with startups that get big. …. He is quoted in an interview with Rich Karlgaard “The single most important contributor to a nation’s economic growth is the number of startups that grow to a billion dollars in revenue within 20 years.” He indicates the U.S. needs to spawn 75-125 billion-dollar babies every year in order to feed the country’s post WWII rate of growth.
This triggered in my mind the importance of planting Entrepreneur Productive Innovative Engines (PIE) Teams in our schools and jobless networks. In my previous blogs I discuss the concept of PIE Teams in:
• Create Job Opportunities with PIE
• Wanted Economy With Motor
• Quality White Glove
Mr. Schramm states the “X factor” is startups that get big.
I suggest if we want to solve the problem of Jobs and a slow economy, we need policies that encourage PIE Teams to experiment with creating new products and services that have the potential for growing into big companies i.e., X factor effect.
A Team consists of the following Hats:
- Business (Entrepreneur)
- Customer (Marketplace
- Technologist (Production/Service)
- Engineer (Design & Development)
- Scientist (Research)
- Logistics (Global Supply Chain
These are discussed in detail in blogs at http://www.bcswonline.com/blog/index.html.
Hopefully these thoughts will be useful in getting the pipe-line primed for the X-factor companies that will be needed in the next 20 years. Other thoughts regarding this concept are welcomed.