Entrepreneurial Trends

Much has been written in the business press claiming formation of new businesses is soft, down, maybe kaput. I beg to differ.

From where I sit there is an endless line of people with exciting business ideas wanting to form their own business. How to go about that is their daunting question. Well, daunting, maybe, but not paralyzing! These people push forward seeking advice, doing research, and making a series of complex decisions in a chain of questions, options and decisions. They are doing this in spite of negative news in the business press. They see their ideas as an opportunity to achieve a lifelong dream – Owning their own Business!

They are budding entrepreneurs willing to risk their time, talent and treasure to form their own business. They are found in libraries across the nation asking pertinent questions. Libraries have formed special services for them calling it the Business Library within the existing library. Business Librarian positions have expanded to meet the need. Local colleges and universities have lent their expertise and support as well.

Another partner in this trend is SCORE – Service Corps of Retired Executives. Founded over 50 years ago, this volunteer organization is a non-profit entity of the Small Business Administration, an agency under the US Commerce Department. The SBA created SCORE as a means to reach out to individuals with the ideas and energy to form new businesses. The SBA wanted to lend a helping hand to those people. And thus SCORE was born with a mission.

Today, 11,000 mentors volunteer their help across the nation to help both budding entrepreneurs as well as existing small businesses in need of assistance to expand their business operations or fix a sticky problem that has been holding the business back from major successes. In 2014 alone, SCORE’s work helped create over 47,000 jobs in this sector of the American economy.

As a SCORE mentor we see – yes, I’m one of the mentors! – clients for free. We nurture, educate, organize thinking and suggest processes to follow in launching a new business. It is exciting work. We witness raw client excitement as they explain their ‘idea’. We see the passion behind their dream.

As we work with each client we also are a party to some amazing realizations on the part of the client. Many times a client’s face will transform with wide-open eyes, a dropped jaw, and cry of surprise as they capture a moment of understanding. Getting it is their job. Helping them ‘get it’ is our job. And it is fun and rewarding work.

Yes we volunteer our expertise, time and experience so others can find success in their lives. We sign an ethics statement and contract agreeing not to make money off of these ideas and to maintain client confidentiality so their ideas are not stolen out from under them. We also steer them in the direction of SBA lending programs to get start-up financing and advise clients how to acquire additional funding in alternate venues when and if they need such assistance. Our job is not to do the work of the entrepreneur but to encourage them to push through to a successful launch of their business.

Later we are available to help them expand their vision and business to new heights.

Yesterday I helped host a roundtable discussion with 10 people. Most were already in business, others were contemplating starting their own firm. Together we shared ideas, thoughts and fears. Together we discussed simple ideas that would help each of them. Each of us – guests and hosts alike – shared ideas with one another. We were not in competition with them but one with them to help them see fresh ideas and opportunities. During such discussions (we meet monthly for 90 minutes in libraries across the nation) we witness transformations among the attendees. Facial expressions alone tell us people are getting the help they need to succeed.

And then they come back month after month for more of the same. Attendees change over time as new people find us and join in the discussions. Word spreads and more roundtables are organized.

This is important work. It empowers citizens of every stripe to reach for their own futures. They want to build their dream and they do so. From where we sit the supply of entrepreneurs is huge. Maybe even endless?

Might you be harboring a dream you should dare to give life to?  Contact www.score.org/ for information on a SCORE Chapter near you. Email mentoring is also available for those in sparsely populated regions.

Entrepreneurs feed on ideas and passion. As long as the latter two exist the former will too!

June 19, 2015