What does it take to get a new venture up and running? Conventional wisdom suggests that the entrepreneurs should hit the pavement in high gear and then keep up the pace. Research shows, however, that speed alone is not a guarantee for success.

Entrepreneur magazine recently ranked Arizona as the top hot spot for entrepreneurs. However, it is replicative, not innovative, entrepreneurs who are flourishing in Arizona.

What is small business? According to the Small Business Administration's size standards, an enterprise may still be considered "small" if it employs as many as 1,500 people with revenues up to $32.5 million.

September 10, 2001, was the first and last business day for a small pizza parlor in lower Manhattan; without business interruption insurance, the owners did not have enough funds to cover fixed expenses until they could repair and reopen the restaurant following the 9/11 attack on the World Trade

Tim Brady, founder of Yahoo … Mitch Kapor, founder of Lotus Development … Max Levchin, founder of PayPal … Steve Wozniak, founder of Apple. All are legends in the technology world. But once upon a time, they were regular people. Where did they get their 'big ideas'?

What are the characteristics of companies that succeed, even in tough times? The stories behind the five winners of this year's Spirit of Enterprise Awards are instructive.

What does it take to be a successful entrepreneur? Tom Blondi, who has been involved with several start-ups, says it takes more than a great idea. Much as you might like the cheerleaders, what you need more is someone who will ask tough, specific questions.

Thirty-seven years ago Roy Vallee was stocking shelves at a small electronics distribution company in Los Angeles. That small firm has grown up to become Avnet, Inc., a Fortune 500 firm located in Phoenix, Arizona.

Recessions are especially hard on small businesses. Few small firms have the resources to stay the course and wait out the bad times. Credit is scarce, and budget cutting difficult. In a small operation, there are not that many places to cut.

Some small firms have weathered the economic storm by cutting expenses and reducing staff. But others have continued forward by focusing on what they do best: exemplary customer service, employee excellence and innovation. They tweaked their business plans to react to the new economic realities.