Monday August 7, 2017 0 comments
By Bill Van Eron
System of Everything Mastery in the New Economy
Headwaters Marketing & Innovation
Start with common knowledge and trend data: A growing audience of students on up to experienced workers strongly favor the benefits of being entrepreneurial or working for an entrepreneurial organization.
Many students in the U.S. have entrepreneurial aspirations and energy that could help drive future job creation in the country. Nearly 8 in 10 students (77%) in grades 5 through 12 say they want to be their own boss, 45% say they plan to start their own business, and 42% say they will invent something that changes the world. An increasing amount of people see big corporations as soul-sucking graveyards. That has to change and will, but perception is still a form of reality where it drives decisions about where meaningful employment can happen.
This new Gallup poll states that Millennials' “aspirations are high, but experience and education are lacking.” That alone creates a valued realm for a new breed of advisor and support ecosystem, such as my new team offers. More as we get ready to launch.
Contrast this with the well-publicized fact that mid-to-large businesses struggle to do the following:
- Create entrepreneurial work environments as vital to sustaining a long-term advantage.
- Recognize, enable and reward their champions so as to create a champion culture and leadership.
- Stand for something that fuels both employee and market regard.
- Get past status quo limitations to embrace the value tenets customers have, as fuel for internal fire.
- The list goes on and yet some companies are making positive changes (I.E. Unilever, GE, Microsoft, Costco) which in this ‘follow-the-leader business world, means more will finally get it and follow.
Synthesize prevailing truths.
- There is a significant gap between how students get educated for an inclusive, enabling leadership mindset, with how corporations criticize education, yet struggle to set a positive example of acting on ecosystem value and growth mastery in this new economy. The truth: Industry and education are inter-dependent to success.
- Every community that wishes to have a solid economy and valued quality of life, should have a better way to support budding entrepreneurs that get prepared, qualified and launched through a sound support system. Incubators currently accept a 30% success rate where 70% is both feasible and vital.
- Incubators bring in long-time experienced advisors who do a great job preparing entrepreneurs to develop the foundation for success, without going the extra critical mile to prepare them to earn a competitive value in this new rules economy.
- The fallacy of conventional wisdom. I just read this Forbes report, typically a media source I respect: https://www.forbes.com/sites/aileron/2013/11/26/the-top-skills-every-entrepreneur-needs/#3884b53076e3
But this advice, while legit, misses several important factors that define winners in this new economy:
- Most people do not want to be sold to so having a traditional sales force versus a customer advocate or champion with an ear and eye for open value creation that creates a trusted advisor and influencer role.
- Focus is important but an entrepreneur must separate, simplify and automate the mundane tasks so as to allow greater focus on higher impact approaches to business and market mandatories.
- Continuous learning, self-reflection and self-reliance are all great qualities, yet the definitions still fall short of the need for self-accountability, challenging core assumptions, inviting inclusion and recognizing and rewarding your champions.
A short sampling of vital what if and KPI questions that most fail to ask entrepreneurs.
- How do you define what makes you great and where you feel you have been successful so far?
- Where do you define the value of success through advisory as received so far?
- Who do you think provides the best help for entrepreneurs and why?
- Where do you see significant gaps?
- Have you had to and been able to make leaps beyond your comfort zones to help your company fly?
- What was the most painful part of the startup process for you?
- If anything was possible, what would a stronger support ecosystem be like?
- Who do you think of as your greatest success influencers and who do you think of as success limiters?
We are entering a new age of ecosystem savvy, earned regard, integration and support.
Those supporting entrepreneurs must stop resting on their laurels and apply real innovation and enabling technologies to supporting innovation. Innovation and entrepreneurship deserve better support systems.
- States, cities and communities very futures will depend on their more conscious success rate attracting, helping and supporting more of the real needs that define entrepreneurial success.
- We need high empathy, credibility, the ability to capture and champion progress and inclusion by media, financial and other vital support mechanisms.
- The secret of any city earning the highly vaunted “Innovation Central” designation or even an “advanced technology hub” is a solid workforce and education/industry partnership.
The road ahead is exciting as even smart technology evolves to a genius levels of enablement for entrepreneurs to stay focused on what matters over the mundane. This is something I dedicated 8 years to understand and with unique insights, now confident of the ideal support ecosystem as a system-worthy solution.