Punch Above Your Weight

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Jim Stike, CEO of Materials Innovation Technologies spoke at a business luncheon and offered some interesting stats:

The U.S. ranks eighth in global innovation with Singapore ranking first, he said. Small businesses are innovative job creators with 70 percent of new jobs generated annually in the U.S. coming from small businesses, Stike added.

“India and China are transforming the playing field and competing on cost alone won’t cut it anymore,” he told a group of 50 business people. “A skilled, educated work force is a key element to an innovative work force.”

And the "punch above your weight" comes from a story Stike tells about a company he worked for at the time asked the British businessmen who were interested in buying them why they were so interested and they said, "‘Because you punch above your weight.'"

Read more here about what that means and also learn about Stike's three principles of entrepreneurs that all people should keep in mind.