Entrepreneurship - The Master Craftsmen

I read a fascinating article in Forbes.  It was about entrepreneurs.  Specifically it is about precision watchmakers. The most interesting points:

·    Most of the watchmakers worked for bigger companies and later decided to break away.

·    These entrepreneurs manufacture high end time pieces (much too impressive to simply label the product as a watch).

·    These individuals are truly craftsmen.

·    The internet is a key to the craftsmen marketing to and identifying potential customers. 

What might be lost in the article is where and how each individual started. Note the third paragraph. These men are leaving prestigious companies to set up their own shop. By and large these men are in their early to mid 40s.

Also note this excerpt. 

·    Without Web exposure to precisely the right audience (obsessives) at precisely the right price--free--shops like McGonigle's wouldn't exist.

As a professional and practicing economic developer I drew the following conclusions:

·    A component for entrepreneurship is having one or more large enterprises where potential entrepreneurs can learn several or all aspects of a chosen profession. This cannot be understated.

·    The internet offers a potential advantage and equalizer to budding entrepreneurs.

·    An ED professional office should have the necessary resources to help these people launch a successful enterprise, especially if these businesses are basic industries.

·    These fledging firms face several obstacles that we as ED professionals should try to help resolve. An example  noted in the article is the difficulty these small firms have in sourcing parts.

The immediate first bullet is worth additional discussion and an example.  When I worked in Columbia, SC years ago we saw several innovative technology intensive companies’ form.  It was an interesting dynamic.  However, almost all of the new companies shared one key trait - the new entrepreneurs could trace a direct employment line to the NCR tower facility in Lexington, SC.  The NCR tower facility manufactured computers and equally important, conducted R&D on site.  When economic developers stress recruitment part of it is due to an unstated reason.  By getting these kind of facilities to locate in an area, down the line you may have an incubator for budding entrepreneurs. The additional advantage is these individuals should have the opportunity to learn several aspects of a business, like marketing, accounting, production, and operations. 

For those of us that have been in the economic development profession for a while, we have seen that every few years a renewed emphasis is placed on helping start-ups and entrepreneurs.  First, I suggest noting and understanding the difference between an entrepreneurial enterprise and a small business.  The key differential is that an entrepreneurial business is a basic industry.  Most small business start-ups are not, they are oriented to providing services to the immediate population. This is not to say ignore all small business start-ups, but rather apply most of your resources to a true entrepreneurial endeavor. 

Second, one key way to foster entrepreneurship that pops up with renewed vigor from time to time is to start an incubator.  It is a worthy effort, but the key objectives should be to identify entrepreneurial efforts, provide the necessary resources and services, and offer discounted space.  The emphasis should be on the first two parts, if it becomes primarily a real estate deal, then the incubator will probably fail.  One key trend I suspect we will see more of is the formation of “virtual” incubators.  However, I submit that a Fortune 500 basic industry that locates in your area could be a stealth incubator.

This is a fascinating discussion and one that the economic development profession should be front and center.  We have the talent and intellectual capacity to offer excellent advice and recommendations. I am looking forward to hearing from other professionals.

The link follows.

 

http://www.forbes.com/forbes/2011/0912/life-watches-timepieces-roger-smith-watchmakers-independents.html

A Father's Nightmare - Prom

One of the advantages of writing a blog is that your kids will never read it. Of course neither will anyone else. 

A long time and cherished friend recently posted that her daughter has a date to prom. It is not surprising, she is intelligent and talented.  Of course the mother is thrilled.  In fact, mothers are usually far more delighted than anyone else.

Now I offer a different perspective.  It is one of a father with a daughter who will eventually be eligible to attend prom. Note the key word, eligible.  This is a quick post, as you will see, I have been thinking about it for a long time.

I have very strong and very divergent emotions on this subject.  When my daughter was born I discussed her future with my mother.  I said my daughter will not go out with boys until she is 40 or I am dead. As a former boy and now adult male (by society’s standards, my family may have a different opinion). I can say with considerable certainty, boys (and men) are by and large pigs.  They were pigs when they asked out my sister back in Midland, Texas where we grew up; they were pigs in college when they asked out girls who were friends but not girl friends, they are pigs today and they will be pigs tomorrow. 

In the history of the universe, I know the following constants:  death, taxes, lots of people watch bad reality shows, Scotch is the best adult drink, and boys (men) are pigs.

However, my mother pointed out to me that my worst fear is that my daughter is asked out for prom. My worst fear will also be that she is not asked to prom.  As I wrote earlier, I have thought about her words over the years, but never more than now.  My daughter is not the little tough, determined girl that used to play really rough with me. She is a teenager (a separate blog or several entries unto itself and mostly depressing).

As always, I digress. My daughter is a beautiful, talented intelligent, funny, young lady.  Yes, I am biased. If she reads this, I could list her flaws, but at some point I need to go to bed.  In summary, she is very much like her mom (minus the flaws).

What my wise mom told me so many years ago was you will be deeply concerned if she is asked out. If she is not asked to prom, she will likely be hurt and you can do little to help her.  My mother is right.  As a parent, I want my kids to show their unique traits, be independent and hope they will be accepted by a number of other kids for who they are. Conversely, I expect my kids to accept many other kids for who they are. That is simplistic. In other words, stand out and excel, but not so much that you are considered odd.

So often our kids and others tell us how much harder it is to be a kid today.  No one really tells parents how hard it is on us.  Do not get me wrong, I love being a parent.  Any with any labor of love, and I count being a parent as one, it is hard work and can stir strong emotions and passions.  When my kids succeed, I share their happiness and it is a wonderful emotion for me as a parent. Equally important, when they hurt, it pains me just as deeply, if not more so.  Still, it is a long and a joyful journey, with a few bumps.

Finally, I only have to go through this once as I have only one daughter. I cannot imagine how much more difficult it would be if I had more than one. For those friends of mine with more than one daughter and as you face this nightmare each time, come on over. For I will pour you the good Scotch, you deserve it.

Big Day

This is an important day for me.  Most people would not give this a second thought, but to me it is truly special. Any idea?

I doubt anyone could guess it so I will not hold you in suspense. I got my Prince William County, VA library card.  Now why is this important?

Before I begin, I can almost hear the comments and questions. Can you be any more boring? You have got to be kidding!  Is he really that dull? Does the library get C-SPAN? Or, I get it, this is a joke. 

No. Some of my best experiences have been in a library or because of one.  In fact, in every city I have ever lived I take time to occasionally enjoy the public library. I digress. Back to the previous question, why is this important?

First, Just to browse the magazines, biographies and public affairs sections is enjoyable.

Side note, have you ever seen who writes autobiographies?  A significant segment of celebrities who write autobiographies will never have a biography written about them, so they think they the world should know all about their life. People like Suzanne Somers, Sylvester Stallone, Rob Lowe, Rosie O'Donnell, Vanna White, Tommy Lee, Drew Barrymore, Stephanie Powers, Brooke Shields, Tatum O'Neal, etc. The list is endless.  And basically useless. Most celebrities who write memoirs simply are not interesting people. So why read their book?

Second, a library is always quiet. If you have kids living in your home, you know exactly what I am writing about.

Third, most of the people in a library share a desire for knowledge.

Fourth, most of the people I prefer not to see would never step foot in a library. I actually have a higher probability of running into those people at a Wal-Mart or a grocery store.

Fifth, the library staff is always helpful and courteous. 

Sixth, I can read a book that I probably would not buy.  Most of the books I check out I have a passing interest in the subject matter or the person. I will read it and return it for someone else to enjoy.

Seventh, most libraries I frequent have an extensive selection of current magazines and journals.

Eighth, the chairs in the magazine section are comfortable.

Ninth, the reading/working tables are made of wood. They are large so you can put alot of stuff on it.

Tenth, people who frequent a library are generally polite.

Eleventh, no eating or drinking on the nice furniture. Try telling that to my kids.

Twelfth, all libraries have books sales. Where else can you buy a hard back for less than $1.50?  Also, for all you almanac collectors, where else can you buy a five year old almanac? It is like a used book store.

Now, anyone who knows me know how much I enjoy my Kindle. However, a library is a public service and a good use of taxpayer money.  A library is a way for the local citizens to say knowledge is important and the sharing of knowledge should be encouraged.  You can be exposed to so many interesting topics and subjects.  Sometimes it is just nice to walk around a library.

For example, most libraries sponsor authors and interesting speakers. In addition, book reading clubs and writer groups also call libraries home.  And why not?

Consider this, if you ever had or have the opportunity to tour an old mansion, note the library. Usually, it is one of the most stunning rooms in the entire house. The ones I have seen are well decorated and quite stylish in a traditional sort of way.

I recognized long ago that a public library is as close as I will get to the majestic libraries of the old mansions.  So now I just need to figure how to get all the other patrons out. 

UPDATE

The first book I checked out was by Dr. Amy Chua, it is Day of Empire. So far I have thoroughly enjoyed it. She looks at several empires over the history of the world. She explains how the empire came about, what made it unique, how it prospered, and how the empire decayed and eventually imploded.  You will also read a foreshadow of her highly successful book, Battle Hymn of the Tiger Mom.

The Best Reality Show On Cable

Cable news gives viewers an unparalleled choice of alternative shows.  We can watch as much general news, business news, sports, independent movies, classic movies, movies targeted specifically for women, etc. All running 24 hours a day, seven days a week. The list is practically endless.

One unique type is the reality show.  It started with shows like Oprah, Jerry Springer, Phil Donahue, Sally Jesse Raphael, Montel, and Dr. Phil. These shows featured a host trying to help an individual and/or family. In some cases, exploit an individual or family.

These shows morphed into productions that center less on the host and more on actual people. You know what I mean, a show that centers on "real" people. In some cases it is a bunch of kids in a house, a bunch of adults in a house, a bunch of adults on an island, a bunch of adults in homes on a beach, a bunch of cheerleaders, a bunch of adults trying to be an apprentice to a rather self-centered CEO, a bunch of mothers helping (I use the term loosely) their daughters in dance competitions, a bunch of kids in a band, a bunch of ladies trying to gain a modeling contract, a bunch of dancers, a bunch of singers, a bunch of dress makers, a bunch of men helping people dress better, a bunch of performers...And the shows just keep coming.

As you watch a few of these shows, sometimes it appears that the conflict is manufactured. Of course the music adds to the drama.  After a point you wonder who and what is real and what is not.   

For people who know me, know that I do not watch reality shows.  Exceptions to the rule, I have watched “The Apprentice” with my family.  And my wife and daughter got me hooked on “Dance Mothers.”  Since my daughter dances competitively and I have gone to her competitions in the past, this is one show that I can definitely relate to.

However, one of my favorite reality shows is one of the oldest reality shows. It has been running for decades. And the show? It is C-SPAN’s continuous and unfiltered Washington Journal.  It runs every morning.

The show always has a viewer call in.  The first segment is usually with the moderator and later in the show with think tank staff, elected officials, high ranking government officials, pollsters, reporters, editors, and others.  During the viewer call in with the moderator a topic is presented for discussion and sometimes the moderator reads excerpts from a newspaper, that of course is marked with a yellow highlighter. The guest or guests sit at a table with the moderator and answer questions from citizens calling in. 

Now a word about the C-SPAN moderators. They are first rate. Brian, Pedro, Steve, Susan, Libby, and Greta are experts at handling angry and difficult callers. Nothing ruffles them. If a caller is unbelievably rude, any one of the moderators will simply say, we have others who want to call in, thank you caller. Callers are prescreened.  Any one of the C-SPAN moderators would be an outstanding negotiator or diplomat.  All are well informed, intelligent and well read.  And I get the sense that they really enjoy their job.

This is a reality show at its best.  Viewers from all over the U.S. can call in, ask questions to a guest or chime in an opinion with the moderator. A diverse group of people call in every morning, usually to a line for democrats, republicans or independents. You get a very good sense of the people's frustrations, what news story sticks in their minds, what facts they recall, their analysis of a story, what they read, their fears, and their thoughtfulness on issues.  We are a diverse nation with so many different and unique ideas. Now granted, these are not always expressed well, but that is the beauty of reality TV according to C-SPAN.

Market House Theater - A Volunteer's Perspective

I recently attended the Market House Theater (MHT) production of "The 25th Annual Putnam County Spelling Bee." This is a musical. http://www.mhtplay.com/

Over the years I have attended numerous MHT plays. MHT plays are always professional. The actors, directing, and play selection are first rate.  Each play is a real treat.  MHT also sponsors plays for kids and teaches acting. Both of my kids took acting lessons and it was a real joy for me to watch my son take part in the improvisation sketches with the other kids.  You see some real talent and upcoming comedians.

As usual, I digress. In my defense, it is my blog. At the play mentioned in the first paragraph I was convinced to sign up as a volunteer.  That means I was on stage with the actors. I was given only two sentences of instructions - when given a word to spell, always ask for a definition and always ask for the word to be used in a sentence.  I acted many a year ago and I debated in high school so voice projection is easier for me.  Still, I was not quite ready for this experience.

Now do not get the impression that all I did was stand up when my name was called, ask two questions and spell a word. No, I was figuratively and literally part of the show. So when the actors danced, I danced. When the actors moved in a circle, I moved in a circle. When the actors bid farewell to a contestant who misspelled a word, I also bid the contestant farewell. 

What I never understood and now have a great appreciation for is the actors and their help. They whisper to you what you need to do, they physically move you when they need you to be in another position, they turn you around when you are pointed in the wrong direction and they do it nicely.  You have a different viewpoint when you are on stage and hearing people laugh. I remember what that was like when I acted, again so many years ago.  You almost feel a degree of anxiety for the actors, no doubt a volunteer did something totally unexpected and the actors on stage had to compensate or improvise.  I was truly impressed.

Community theaters are an important part of a local community's fabric. A play can make us laugh, think, tear up or all three and more.  We sometimes take for granted how hard the actors, director, and theater staff really work to give the public an excellent alternative to a movie or TV show rerun.  You can see it when you go to a play.  If it is professionally done, you really do not think about how much preparation and how many rehearsals it took to give you, a member of the audience, 2 hours of superior entertainment.  On a consistent basis and with every production, MHT gives this to the people of West Kentucky.

However, as a volunteer on stage, I gained a new and valuable perspective.  For that, I am very grateful to the Market House Theater, the actors and professional theater staff. I may never look at a play in the same way again. In fact, I may even volunteer again should the opportunity present itself.

Do the American Theatre Wing and Broadway League, sponsors of the coveted Tony awards, include an award for Best Volunteer in a Play or Musical? If not, may I suggest this category be added?

Borders - You Will Be Missed

I just got back from a trip and decided to stop by Borders, a book store. For those who do not know, Borders filed for bankruptcy. The store in Manassas, and others across the U.S., was closing.  I was in the store 15 minutes before it closed for good, I just did not know it until I made my purchase.

It was very sad, book shelves cleared out, offers on buying bookshelves, a young and helpful staff, movers taking out larger furniture units, and sales of up to 80 percent for certain types of books. Think of it like this.  When you move out of your home and most of the furniture is out, the house looks so empty.

Borders was a good bookstore and I am not here to comment on past actions by company executives.

Rather, I regret seeing any bookstore close. Take a look at the people in a bookstore. Generally, these people seek knowledge. They may be buying books, magazines, or journals. But they share an interest in learning.

Now I know a plurality of people read most or all publications electronically or from the internet. I certainly understand. Among my most treasured gifts is a Kindle, an electronic reader. It is unique. For traveling, it cannot be surpassed. You can subscribe to magazines and have it delivered via the internet.

Still, I miss bookstores. Just browsing up and down aisles is fun. You get a sense of what the public is looking for by what is on the shelves.  It is also a commentary on the demographics of the area.  I used to note the selection of journals in bookstores that I visited in different cities.  Sometimes I saw an emphasis on cultural publications, other times policy publications. 

To a major extent, bookstores are places where people with similar interests could meet and exchange ideas. Several bookstores sponsored reading and/or discussion groups.  We will see fewer of these locations as more bookstores close. 

First we saw independent bookstores close, then regional chains, then mergers of chains and now a national chain closes.  It leaves a void.  A void that I hope can be filled.

Stupidist Man in the Room

Today I went to the 5^th Annual George Mason University Aspiring Scientists Poster Session and Awards Ceremony held at the Hylton Performing Arts Center.  It was amazing. I saw 38 posters outlining exciting and unique experiments.  The number of students participating totaled 48.  It was a diverse and interesting group.  Participating students attended a high school, a community college or a university. 

At each poster a student was ready to explain the experiment and answer questions.  An example, one poster was about an experiment to rid a potentially deadly disease in a 3^rd world country.  Think about that, students considering how they can save lives in a country where most people do not know where it is located.  It was at this point that I realized I was the stupidest person in the room. I walked around and looked at 4-5 posters and did not understand much of what I was looking at. I could read each one, I just did not comprehend. 

But I decided to persevere.  Now for a big helping of humble pie. I decided to ask a couple of students about the experiment highlighted on their poster.  Now I was wearing a suit, so perhaps I gave off the impression that I appear smarter than I am. Each student started off slowly and intelligently, no doubt they knew the experiment. Unfortunately, after less than 2 minutes, I had to ask the student to use English. Keep in mind this was after I carefully looked at the experiment before asking for an explanation.  The students quickly converted to “English”. A testament to their ability to adapt.  Even with all that, I could still not think of one intelligent question to ask, but I did come up with a wheel barrel full of dumb ones. 

Perhaps most importantly I walked out feeling very positive about all the aspiring scientists and what they represent. These kids are our future and we should take great pride in the fact that the U.S. embraces diversity, individual achievement, and intelligence.  I bet their parents were sure proud. I know I was, even though it was Greek to me.