santa fe, new mexico january 20-22, 2003
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National Rural Funders Collaborative. Santa Fe, New Mexico January 20-22, 2003. Rural Entrepreneurship. Don Macke Co - Director. My Talk Today. Part 1. Rural Entrepreneurship Overview. What is it? Who are they? Why is it important? How to support it?. What is Entrepreneurship?. - PowerPoint PPT PresentationTRANSCRIPT
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Santa Fe, New Mexico
January 20-22, 2003
National RuralNational RuralFunders CollaborativeFunders Collaborative
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Don MackeCo - Director
Rural Entrepreneurship
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My Talk Today
Part 1Rural Entrepreneurship Overview
Questions and Discussion
Part 2Outcome Metrics
Exercise – Share Back
Part 3Peer to Peer Learning
Exercise – Share Back
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Rural Entrepreneurship Overview
What is it? Who are they? Why is it important? How to support it?
Part 1
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What is Entrepreneurship?
“Any attempt to create an enterprise or to expand an established one.”
Jay Kayne, EMKF
“Entrepreneurship is the transformation of an idea into an opportunity.”
Jeff Timmons, Babson College
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Who are They?
Entrepreneurs are . . .
Like Yeast in Bread.
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The Entrepreneur
Pursues Opportunity Lives Proactively Leverages Resources Builds Networks Creates Value
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Two Worlds
Businesses
Public
Social Civic
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By the Numbers. . .
GEM 1:10 AmericansNCOE 4% of VenturesCenter 1-2% in Rural
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Why is it Important?
“Entrepreneurship is a primary driver of regional economic
competitiveness.”
Chuck Fluharty
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GEM 2000: Entrepreneurship is strongly associated
with economic growth!
The level of entrepreneurial activity explains 70 percent of the difference in economic growth among nations.
All nations with high levels of entrepreneurial activity have above average rates of economic growth.
Only a few nations that have above average rates of economic growth have low levels of entrepreneurship.
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NCOE Report:
High-growth companies are truly extraordinary in the economy; fewer than one in twenty U.S. businesses achieve high-growth rates.
High-growth companies are found in all regions of the country, often concentrated in the most surprising areas.
Most fast-growing, entrepreneurial companies are not in “high-tech” industries.
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Panel Study
64,622 National Sample 830 Entrepreneurs Entrepreneurial Rates are Higher in Urban Rural Entrepreneurs are Present
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COLORADO
OHIO
TEXAS
WEST VIRGINIA
MAINE
NEBRASKA
KENTUCKY
MISSISSIPPI
OREGON
NORTH CAROLINA
MICHIGAN
High Performing ESOs
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How to Support it?
Discover it! Understand it! Be Strategic! Invest in Entrepreneurs!
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Types of Entrepreneurial Talent
LimitedPotential
BusinessOwners
PotentialEntrepreneurs
Entrepreneurs
Type 1 Type 2
Type 3 Type 4
Impact
Opportunity
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Entrepreneurial Talent
Not Working Want to be An Employee
Youth
Dreamers
Frustrated
Lifestyle Survival
Break outs CatalystsSerial Es
PotentialEntrepreneurs
Business Owners
EntrepreneursEntrepreneurial Growth Companies
LimitedPotential
Aspiring
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Growth Focus
Catalyst
Breakout
EGC
Serial
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Many Forms
SBA/SBDCModel
InformalCustomizedAssistance Incubators
Micro
EnterpriseFacilitationTraining
Led
CapitalLed
ProjectLed
CommonPractice
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Elements of the Practice
1. Entrepreneurial Focus2. The Right Geography3. Facilitator Driven Customized Approach4. Creation of a Portfolio5. Business Services6. Local Resource Network7. Systems Approach with Higher Order Services8. Performance Driven9. Robust Capitalization10. Accountability
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Questions?
&
Discussion!
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Outcome Measurement
Criteria vs. Indicators Reach vs. Impact Capacity Building
Part 2
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Long-Term Outcomes
Wealth Creation Sustainability Smart Growth Constituency
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Long-Term Outcomes
Wealth Creation
AssetsEquityEndowmentsGiving
Sustainability
Business DiversityCompetitivenessLocal Ownership
Smart Growth
Sustainable DevelopmentFits CommunityMinimizes Disruption
Constituency
AwarenessEngagedSupportive
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Long-Term Outcomes
Wealth Creation
AssetsEquityEndowmentsGiving
Sustainability
Business DiversityCompetitivenessLocal Ownership
Smart Growth
Sustainable DevelopmentFits CommunityMinimizes Disruption
Constituency
AwarenessEngagedSupportive
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Long-Term Outcomes
Wealth Creation
AssetsEquityEndowmentsGiving
Sustainability
Business DiversityCompetitivenessLocal Ownership
Smart Growth
Sustainable DevelopmentFits CommunityMinimizes Disruption
Constituency
AwarenessEngagedSupportive
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Long-Term Outcomes
Wealth Creation
AssetsEquityEndowmentsGiving
Sustainability
Business DiversityCompetitivenessLocal Ownership
Smart Growth
Sustainable DevelopmentFits CommunityMinimizes Disruption
Constituency
AwarenessEngagedSupportive
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Medium-Term Outcomes
EnterpriseSuccess
CommunitySuccess
OrganizationalSuccess
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Short-Term Outcomes
Ent
erpr
ise
Act
ivit
y
Cap
acit
yB
uild
ing
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Clarifying
Questions?
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Exercise
Outline the possible outcome metrics for your project and be prepared to
share back.
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Share
Back!
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Peer to Peer Learning Objectives
Entrepreneurs generally identify each other as their best source of
information!
Part 3
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Exercise
Alone or in your small group, identify (1) your personal and (2) your
project’s top three learning objectives.
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Share
Back!
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For More Information. . . .
Center for Rural Entrepreneurship – http://www.ruraleship.org
Ewing Marion Kauffman Foundation – http://www.entreworld.org
Rural Policy Research Institute (RUPRI) - http://www.rupri.org
National Commission on Entrepreneurship (NCOE)
http://www.ncoe.org