Reflecting...

Visiting with KECI Alumni has been a very rewarding experience. Many days have been spent in the 19 tobacco-dependent counties of Northeastern Kentucky and each day has been filled with a new experience. I found myself getting excited and wondering what the day would hold as I drove closer the community I would visit on a particular day.

From a farm setting, a school, a family-run business to an extension office, I felt welcomed by the Fellows and they were eager to share what KECI has meant to them, the lifelong friendships they have made and the work they have done with entrepreneurs and in their communities. They were also open to talk about areas of the program that can be strengthened and ways we can improve. Each graduate of the program is unique and shares their talents and experiences as they work one-on-one with entrepreneurs or in their communities. Changing the culture to create a friendlier environment for entrepreneurs takes time, but they seem genuinely committed.

The Fellows are proud of the mini-grant projects they have developed and several in the group want to expand some of the initiatives that were started. Working on a group project seems to be appealing to them if they are given the opportunity to work on their own area of interest rather than be given a committee assignment.

Many of the graduates would like to have more contact with other Fellows that they have made connections with over the last few years or during an alumni event, but due to their geographic location this is sometimes hard to do. They like the idea of alumni events and would like to have more time to get to know the other Fellows. Many of the 2005 and 2006 alumni have never met and would like a chance to network and learn from each other.

When asked about what they need to assist them in coaching, many answered “more time” because their schedules are already overloaded with work and family obligations.
Many Fellows that own businesses have had to take on more of the day-to-day responsibilities since the decline in the economy. Other Fellows have had to change jobs to support their families. All these situations leave the Fellows with less time to volunteer for KECI.

Life happens and we all must adjust to the changes that occur. One thing is certain, all the Fellows have a commitment to KECI, some stronger than others, but they continue to be an important part of their communities and in the lives of others.

I feel humbled to be considered “one” of this awesome group of people that care so much about making a difference in Northeastern Kentucky.

Melony Furby

Kentucky's 100 year old businesses

I've spent most of the day writing a newspaper article. While doing some research I found the Kentucky Humanities Council has a publication about the 100 year old businesses in Kentucky. Thomas D. Clark wrote the forward in which he says:

"The Kentucky businesses, commercial or institutional, which have survived for a century have reflected the realization of dreams, of expectations, and the challenges of changing times and human tastes. Running through this collection of histories is the theme of fending off the ravages of archaic practices on the one hand, and an ever-growing corporate competition on the other. During the passing decades these survivors have established rock-solid assets of integrity, personal service, patron loyalties, and a dedication to the sense of community. Collectively, the centennial businesses have reached far beyond the doorways of their stores and shops to knit a rich Kentucky heritage of time and place." (From the Kentucky Humanities Council WEB site)

Perhaps most of you already knew about this book and perhaps I should have but I didn't and was extremely happy to find it. The book can be ordered at http://khci.intent.net/go200102.cfm

Redbuds in Springtime

Redbuds in spring time, courtesy of Gwenda.

Hidden Innovators Could Swell Great Britain's Economy

Very interesting piece from PublicTechnology.net on how hidden innovators could yield as much as 15 billion sterling pounds to the British economy through their innovations if only they can be plugged into the stream of commerce:

The report, which combined in depth statistical research with qualitative case study analysis, was conducted over a six month period. It examined how we might unlock the barriers and pathways to entrepreneurial innovation in three important groups, recognised for their entrepreneurial potential: - “Olderpreneurs” (those aged over 50) - Black Minority and Ethnic (BME) - People with a disability (including dyslexia).

One of the report’s key findings is that entrepreneurial self-confidence is a critical issue for all the hidden innovator groups and a major barrier in pursuing an entrepreneurial path. However, it also reveals that this self-confidence can be nurtured if there is a culture of entrepreneurship to support it.

Some of the critical steps to creating that culture are:

- Policy makers should be urged to provide equivalent support to the over 50s as they do to younger people

- younger entrepreneurs need investment and support but that should be balanced against support for other parts of the entrepreneurial ecosystem

- Business support services must take diversity seriously - understanding barriers and helping to break them down

- Government should strive to change the image of entrepreneurship

- make business ownership a mainstream ambition

- Encourage improvement as well as innovation

- a successful and sustainable business doesn’t have to be completely unique

- Provide tailored encouragement and support

- the right mentoring can have a dramatic effect on business success

Gordon Frazer, Managing Director, Microsoft UK, commented: “Technology, and software in particular, is an extremely powerful tool which enables innovation and entrepreneurialism. It provides a platform on which new ideas can be built, it breaks down barriers to entry for new businesses and allows access to markets far beyond traditional boundaries. It appears that as a nation, we’re currently only focussed on supporting a relatively small part of the UK when it comes to entrepreneurial and innovative potential. By tapping into the knowledge and passion of all our communities we can both drive economic growth and help to create a culture of successful start ups and growing businesses. We are passionate about helping the UK to become a nation of successful business owners.”

This is just a portion of this must read. There's quite a bit here that merits discussion in the future so you haven't heard the last word on this.

Napoleon Bonaparte once scornfully remarked that England was a nation of shopkeepers. The joke was on him as these shopkeepers were the backbound of a British economy that ultimately allowed the English to defeat the Corsican general and his French legions. This study signals that the UK should double down on that great tradition.

WaPo: Entrepreneurs Face Increasing Energy, Health Care Price Woes, But Overall Optimistic

Here's some of what the Washington Post says in an article published today:

Most small businesses say the nation's state of economic uncertainty and lack of health insurance and available capital are the most significant challenges they face in growing and maintaining their businesses.

The National Small Business Association released a study today that covers a broad range of business owners' opinions on topics ranging from employee benefits to energy costs.
Nearly half of all respondents said they expect a recession to occur within the next year while nine percent anticipated economic expansion.

"Small businesses are buckling down, with nearly a quarter reporting no growth strategies planned for the coming year"... [said one expert].

More than half of the business owners surveyed said they have faced difficulty securing credit during the last year. Credit cards continue to be the largest primary source of financing for small firms even though 57 percent report that their credit card terms are worsening.

Fifty-four percent of small businesses have some type of business loan, according to the survey; and to leverage those loans business owners are using credit cards, personal savings and their homes as primary sources of financing.

Small business owners also said spikes in energy costs have forced them to increase prices, reduce business travel, cut production schedules and reduce their workforces. On the up side, 18 percent of those surveyed said they're investing in more energy efficient equipment or upgrades.

Despite the gloom and doom, the majority of those surveyed still expressed confidence for their own businesses. Glen Bolger of Public Opinion Strategies, which conducted the survey of 500 firms for the NSBA, said the optimism tracks closely with what his group would expect to see from self-starting entrepreneurs.

Supercoaching, a handy tool for college student.

My niece who is a student at KSU had to create a GREEN business and write a thirty page paper on it. She didn't know exactly what to do with the assignment so she called me. When she read the questions in the assignment, supercoaching jumped from my memory. It wasn't hard for anyone to see that supercoaching was not easy for me to learn, not sure if I did learn it but I've studied the notebook on several occasions. Thanks to Don Davis who coached me through supercoaching. However it made sense when I sent my niece a list of questions to answer about her business, questions to guide her through a five or ten year plan. I also sent her a business plan I did with the help of the Small Business Development Center. She said it made everything clear to her and she understood the terminology used in the assignment and thought she could write the paper after reviewing the questions from supercoaching and the business plan. I'm waiting to get a copy to proof read. If she gets an A on the paper, I will feel much better about my coaching abilities. I think it is exceptionally interesting that it happened on the eve of a supercoaching update.

Entrepreneurship, Prosperity and Islam and Christianity

The magazine Atlantic Monthly has a fascinating piece in its March issue about competition in Nigeria between Christians and Muslims. These two great faiths aren't just competing with one another, they're also competing to be relevant in the lives of their parishioners. A couple of the ways they're doing this is by promoting prosperity and the tools to gain prosperity, including entrepreneurship.

Here's a portion of the article dealing with Christians, particularly Pentecostals:

Bishop Oyedepo built Canaanland to preach the Gospel of Prosperity. As he said, “If God is truly a father, there is no father that wants his children to be beggars. He wants them to prosper.” In the parking lot at Canaanland, beyond the massive complex of unusually clean toilets, flapping banners promise: Whatsoever you ask in my name, he shall give you, and By his stripes he gives us blessings.

[…]

[While some have criticized this emphasis on material prosperity,] ….Bishop Oyedepo’s followers say that those who criticize don’t understand what’s happening in Africa. “There’s a kind of revolution going on in Africa,” one of the bishop’s employees, Professor Prince Famous Izedonmi, said. “America tolerates God. Africa celebrates God. We’re called ‘the continent of darkness,’ but that’s when you appreciate the light. Jesus is the light.” The professor, a Muslim prince who converted to Christianity as a child to cure himself of migraine headaches, was the head of Covenant University’s accounting department and director of its Centre for Entrepreneurial Development Studies. [Emphasis added]

“God isn’t against wealth,” Professor Famous said. “Revelations talks about streets paved with gold.” He added, “Look at how Jesus dressed.” When I appeared baffled, he patiently explained that since the soldiers cast lots for Christ’s clothes, they were clearly expensive. In Canaanland, clothes matter: the pastors wear flashy ones and they drive fast cars as a sign of God’s favor. They draw their salaries from sizable weekly contributions. On Sundays at some Nigerian Pentecostal churches, armored bank trucks reportedly idle in church parking lots, while during the service, believers hand over cash, cell phones, cars—all with the belief that if they give to God, God will make them rich. It’s said that if the Christian Prosperity churches disappeared, the banks of Nigeria would collapse.


Meanwhile, here's the Islamic side of the coin:

The Christian Gospel of Prosperity is so powerful that it has spawned a unique Nigerian phenomenon: an Islamic organization called Nasrul-Lahi-il-Fathi (NASFAT). The name is drawn from a verse in the eighth chapter of the Koran: “There is no help except from Allah.” This is the same chapter, “The Spoils of War,” or Al-Anfal, that Saddam Hussein cited to justify his genocide against the Kurds. But NASFAT has no interest in violence. Instead, the organization is based on economic empowerment and prosperity with an Islamic spin. Started with about a dozen members in the 1990s, NASFAT now has 1.2 million members in Nigeria and branches in 25 other countries. The organization has an entrepreneurship program, [emphasis added] a clinic, a prison-outreach program, a task force to address HIV/AIDS, a travel agency, and a soft-drink company called Nasmalt, whose profits go to the poor. It even offers matchmaking. Although many conservatives believe that this engagement with the secular world is haram, forbidden, and distinctly un-Islamic, NASFAT argues that it is the only way to survive in the marketplace.

[…]

NASFAT’s primary mission is to reclaim those values the world sees as Western, but which its members perceive as integral to the success of the global Islamic community, or ummah. Foremost is education. “We know that the West is ahead today because of education,” Hassan said. NASFAT has its own nursery, primary, and secondary schools, as well as the brand-new Fountain University. While many orthodox believers say that this new movement is bi’dah, innovation, and therefore dangerously un-Islamic, NASFAT’s adherents disagree, arguing that they are part of a charismatic Muslim movement that addresses social welfare—and that is on its way to sweeping the world.

Since churches globally are turning to entrepreneurship, education and prosperity as a way to help the faithful, might this be a coming trend in America? I'd love get Tony's take on this.

Global (Youth) Entrepeneurship Week

56 nations have joined Global Entrepreneurship Week, a program designed to “engage young people around the world to encourage them to pursue entrepreneurial ideas and opportunities through activities with the support of entrepreneurs, government officials, non-profit leaders and educators.”

Should we do anything? Perhaps send a press release to the local papers about our youth entrepreneurship activities and how they relate to this global effort.