Interesting take in the latest US New and World Report, an article by Emily Brandon titled "Entrepreneurship is the New Retirement" starts with this line:
Entrepreneurs never really retire; they just move on to their next project.
Brandon goes on to talk about early retirees choosing to go back in to business, albeit small or startup business. Some of them choose to do so based on financial needs - Brandon notes one armchair entrepreneur put all of her life savings in to a franchise since it looked more lucrative than keeping it in stocks and bonds - but many choose an entrepreneurial retirement as a way to maintain and sharpen mental faculties.
When I was asked to write the business plan for KOSBE back in 2004, one of the underlying reasons that my clients, the Kingsport Chamber and the City of Kingsport, wanted to address small business development was due to the fact that the town's largest employer had been systematically reducing headcount through enticement, namely lump-sum early retirement packages.
These former Fortune 500 executives would spend a few months doing nothing (or playing golf every day, which was a bit worse than doing nothing, although it may not have seemed so at the time) and then realize they missed work.
Yet many of them did not want to go back into full-time work, so we put an explicit strategy goal in place to address their need for synaptic stimulation with an equally challenging goal of finding mentors for young up-and-coming small business owners. One of our goals stated:
Calculated risk-taking coupled with effective entrepreneurship allows mentoring opportu-
nities between the young just starting a business career and the experienced early retiree
or “gray hair” – both together can provide a balance of risk taking and risk mitigation.
In other words, we offered to work with the early retirees, many of whom chose to stay in the local area rather than uproot family, to get their own business started IF they were willing to work with a young person, mentoring them and teaching a skill, with the possibility of turning over the business to the young person once the retiree really wanted to retire. A succession-planned business from the outset.
Turned out to be highly popular among these early retirees, and may have served to foreshadow the fact that Entrepreneurship is the New Retirement.
Tuesday, September 29, 2009
Sunday, September 27, 2009
Small business development is economic development!
Ok, I admit that I complain alot about the lack of technology development and small business development (and especially small technology business) in old-school economic development, but this quote from a recent article really drove home the need for stimulating small business ....
Turns out we're now at the highest youth unemployment rate since World War II, with over 9 million or 52% of youth unable to find a job. During previous recessions - early '80s, early '90s and 2000s - unemployment among 16-to-24 year olds never went above 50 percent and job growth followed within two years. This recession, though, is different.
In the NY Post article, Al Angrisani, a former assistant Labor Department secretary, states the construction of the current stimulus bill may delay small business job growth.
"There is no assistance provided for the development of job growth through small businesses, which create 70 percent of the jobs in the country," Angrisani said in an interview last week. "All those [unemployed young people] should be getting hired by small businesses."
There are six million small businesses in the country, those that employ less than 100 people, and a jobs stimulus bill should include tax credits to give incentives to those businesses to hire people, the former Labor official said.
"If each of the businesses hired just one person, we would go a long way in growing ourselves back to where we were before the recession," Angrisani noted.
Hmm. Small business and entrepreneurs as the path toward recovery? Makes perfect sense to me. But do they teach this @ IEDC?
iPhoned
Turns out we're now at the highest youth unemployment rate since World War II, with over 9 million or 52% of youth unable to find a job. During previous recessions - early '80s, early '90s and 2000s - unemployment among 16-to-24 year olds never went above 50 percent and job growth followed within two years. This recession, though, is different.
In the NY Post article, Al Angrisani, a former assistant Labor Department secretary, states the construction of the current stimulus bill may delay small business job growth.
"There is no assistance provided for the development of job growth through small businesses, which create 70 percent of the jobs in the country," Angrisani said in an interview last week. "All those [unemployed young people] should be getting hired by small businesses."
There are six million small businesses in the country, those that employ less than 100 people, and a jobs stimulus bill should include tax credits to give incentives to those businesses to hire people, the former Labor official said.
"If each of the businesses hired just one person, we would go a long way in growing ourselves back to where we were before the recession," Angrisani noted.
Hmm. Small business and entrepreneurs as the path toward recovery? Makes perfect sense to me. But do they teach this @ IEDC?
iPhoned
Saturday, September 26, 2009
Milestone: Virginia Entrepreneurship Program
This from Sandy Ratliff:
Virginia's Entrepreneur Express Program is continuing to build momentum in Virginia...over 7,500 participants since Oct. 2006 and growing.
Find out more about the program and a listing of upcoming workshops in Virginia by visiting www.vastartup.org.
iPhoned
Virginia's Entrepreneur Express Program is continuing to build momentum in Virginia...over 7,500 participants since Oct. 2006 and growing.
Find out more about the program and a listing of upcoming workshops in Virginia by visiting www.vastartup.org.
iPhoned
Friday, September 25, 2009
Opportunity: Free Co-Working . . . and Cake
Co-working, the idea of sharing office space, has been around since, well, before Office Space. It comes in various forms and flavors, from incubators offering virtual incubation that includes use of a conference room and by-the-day office or cubicle, to Regus and Laptop Lane offering shared facilities around the country to its members.
In the Tri-Cities region (the NC-TN-VA border area where are live) there are several government or not-for-profit incubators offering this option, and two for-profit co-working spaces.
Spark Plaza, one of those for-profit co-working spaces is celebrating its birthday next week, October 2. More precisely, its half-birthday. Below are the basics, with more details on the Launchpin.com calendar:
"We're always looking for an excuse for a party - and Spark Plaza has a great reason to celebrate.
On Friday, October 2nd, Spark Plaza marks its 6 month anniversary, so we throwing a 0.5 Birthday Party!
Join us for First Friday Free co-working from 9 a.m. - 5 p.m. then grab some dinner in downtown and come back for some cake and ice cream from 7 p.m. until 9 p.m.
Jose and Shannon Castillo"
In the Tri-Cities region (the NC-TN-VA border area where are live) there are several government or not-for-profit incubators offering this option, and two for-profit co-working spaces.
Spark Plaza, one of those for-profit co-working spaces is celebrating its birthday next week, October 2. More precisely, its half-birthday. Below are the basics, with more details on the Launchpin.com calendar:
"We're always looking for an excuse for a party - and Spark Plaza has a great reason to celebrate.
On Friday, October 2nd, Spark Plaza marks its 6 month anniversary, so we throwing a 0.5 Birthday Party!
Join us for First Friday Free co-working from 9 a.m. - 5 p.m. then grab some dinner in downtown and come back for some cake and ice cream from 7 p.m. until 9 p.m.
Jose and Shannon Castillo"
Thursday, September 24, 2009
Opportunity: Greenville (SC) Alliance for Excellence Ethics Conf
A conference for those interested in ethical business.
The Forum on Biblical Business Ethics, sponsored by Alliance for Excellence, will take place Oct. 15–17 on the campus of Bob Jones University. Visit www.allforexcellence.org for details on registration, hotels, transportation and conference activities.
Topics that Affect You Today
The conference is designed to help and encourage Christian men and women in business as well as Christians who own their own businesses. High-level speakers from companies such as Hines, Tucker Advisory Group, CF Capital, Jiffy Lube, Federal Express and Michelin North America will address topics such as:
- How a Christian can commit to biblical ethics and maintain a clear Christian testimony in the business world
- How to operate a business by biblical principles
- The interaction of Christian business people with government
- The changing role of the U.S. in the global economy
- The status of the economy
Extra Benefits
Conference attendees will have the opportunity to network with other Christians in business and with Christian college students preparing for business careers.
10 Continuing Professional Education (CPE) units are available and can be requested in advance of registration.
Registration
Register online or by mail. Registration fee is $150. $50 off registrations received on or before Sept. 28.
Monday, September 21, 2009
Opportunity: TechStar 2009 - We Become What We Celebrate
While a board member, I was involved in several of the early TechStar awards for the Northeast Tennessee Tech Council (NETTC.org). I have been delighted to see the awards ceremonies continue, accompanied by a tech symposium that was also started during my tenure on the board.
Below is an excerpt with details on the 2009 TechStar awards and symposium:
If you are a business or a non-profit and have used or developed technology to reduce costs, assist with daily operations or improved a process or outcome, then you are eligible to apply for a 2009 TechStar Award this year! There are 9 categories for consideration and we will be honoring the 2009 TechStar award recipients at a luncheon to be held on October 15, 2009 at 11:30 am at the Millennium Centre, in Johnson City, TN.
Applications can be emailed (dboggs@nettc.org) or faxed (423.279.9066) to the NETTC office no later than 4pm on Friday, September 25. For additional information, please contact the NETTC office at 423.863.3216 prior to the deadline.
Download the application at www.techstarawards.com or click here for a PDF version. Details on the Tech Star awards and symposium have also been added to the LaunchPin calendar.
Below is an excerpt with details on the 2009 TechStar awards and symposium:
If you are a business or a non-profit and have used or developed technology to reduce costs, assist with daily operations or improved a process or outcome, then you are eligible to apply for a 2009 TechStar Award this year! There are 9 categories for consideration and we will be honoring the 2009 TechStar award recipients at a luncheon to be held on October 15, 2009 at 11:30 am at the Millennium Centre, in Johnson City, TN.
Applications can be emailed (dboggs@nettc.org) or faxed (423.279.9066) to the NETTC office no later than 4pm on Friday, September 25. For additional information, please contact the NETTC office at 423.863.3216 prior to the deadline.
Download the application at www.techstarawards.com or click here for a PDF version. Details on the Tech Star awards and symposium have also been added to the LaunchPin calendar.
Friday, September 18, 2009
Opportunity: 40 Under 40 Awards
Catching up on news after returning from IBC 2009 in Amsterdam, and here's a good piece of news: the 17th Annual 40 Under 40 Awards will be presented on September 25, 2009.
This information from The Business Journal of Tri-Cities Tennessee/Virginia (yes, the longest Business Journal name this side of the Mississippi):
The Business Journal of Tri-Cities Tennessee/Virginia will honor 40 of the region’s top business professionals September 25, at the 17th annual 40 Under Forty awards ceremony at the Millennium Centre, 7:30 p.m. to 9:30 p.m. with a social hour to begin at 6:30.
Keynote speaker Dr. Phil Roe, United States Congressman representing Tennessee’s First Congressional District will speak to this year’s class of 40 Under Forty honorees, inducting them into a highly-respected group that includes preceding winners David Davis, Ron Ramsey, Jason Mumpower, Steve Smith, Tommy Greer, Miles Burdine, Vance Cheek, Jr., April Eads, Robert Feagins, Jeff Fleming, Jon Lundberg, Ben Mallicote, Sam Messimer, Timothy Siglin, David Temple and Tony Treadway, to name a few.
More information is available at www.40under.com/gala.shtm
This information from The Business Journal of Tri-Cities Tennessee/Virginia (yes, the longest Business Journal name this side of the Mississippi):
The Business Journal of Tri-Cities Tennessee/Virginia will honor 40 of the region’s top business professionals September 25, at the 17th annual 40 Under Forty awards ceremony at the Millennium Centre, 7:30 p.m. to 9:30 p.m. with a social hour to begin at 6:30.
Keynote speaker Dr. Phil Roe, United States Congressman representing Tennessee’s First Congressional District will speak to this year’s class of 40 Under Forty honorees, inducting them into a highly-respected group that includes preceding winners David Davis, Ron Ramsey, Jason Mumpower, Steve Smith, Tommy Greer, Miles Burdine, Vance Cheek, Jr., April Eads, Robert Feagins, Jeff Fleming, Jon Lundberg, Ben Mallicote, Sam Messimer, Timothy Siglin, David Temple and Tony Treadway, to name a few.
More information is available at www.40under.com/gala.shtm
Saturday, September 12, 2009
Luxembourg
Casemates, fortifications, bridges and bulwarks: Luxembourg is as much a study in small niches and hide-a-ways as it is in modern banking and the Grey List.
It is also a city of normality, with a market on Saturday that brings out the ladies dressed for market.
iPhoned
It is also a city of normality, with a market on Saturday that brings out the ladies dressed for market.
iPhoned
We're not in business to . . .
This phrase is often heard, followed by either a truism or a myth.
I've often let these pontifications, or even stereotypes, blow right by; a recent discussion, however, struck me as odd enough to reflect on these sayings - and respond appropriately.
"We're not in business to be altruistic"
This sentence, if uttered in my native New York, would be a truism, except for the philanthropic few that support the arts or their favorite charity.
Yet it was uttered in my adopted home in Tennessee, in a conversation between two ex-pat New Yorkers discussing the local business climate. I agree, in principle, with the sentiment, and will be counted among those who will work hard, logging the hours and miles, to see a project through to fruition and profit.
Yet the profit motivator is a good scorecard, bit it's not the only - or most important - one.
Knowing about, and playing against, the other scorecards, which require both philanthropy and altruism, is highly important in the parts of the US that aren't New York or LA. Especially in parts of the burgeoning yet reserved Southeast.
Otherwise, industrial meets suburban or rural in yet another round of misunderstanding, necessitating the translation of phrases and values to make each relevant to the other.
iPhoned
I've often let these pontifications, or even stereotypes, blow right by; a recent discussion, however, struck me as odd enough to reflect on these sayings - and respond appropriately.
"We're not in business to be altruistic"
This sentence, if uttered in my native New York, would be a truism, except for the philanthropic few that support the arts or their favorite charity.
Yet it was uttered in my adopted home in Tennessee, in a conversation between two ex-pat New Yorkers discussing the local business climate. I agree, in principle, with the sentiment, and will be counted among those who will work hard, logging the hours and miles, to see a project through to fruition and profit.
Yet the profit motivator is a good scorecard, bit it's not the only - or most important - one.
Knowing about, and playing against, the other scorecards, which require both philanthropy and altruism, is highly important in the parts of the US that aren't New York or LA. Especially in parts of the burgeoning yet reserved Southeast.
Otherwise, industrial meets suburban or rural in yet another round of misunderstanding, necessitating the translation of phrases and values to make each relevant to the other.
iPhoned
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