ENCOURAGING ENTREPRENEURSHIP

A Formula for Job Creation,

Economic Improvement and Community Attractiveness.

By Matthew G.Soltis

After our research and review of the improvement plans of economically troubled communities it was very apparent all had consistent goals, that of growing sustainable population, retaining Main Street businesses, improving infrastructure and improving the business attractiveness of the community. The paramount factor in all plans for success was the encouragement of entrepreneurship. Community organized and run programs through which entrepreneurs are attracted, recruited and helped in starting and growing their business.

Examination of Entrepreneurship Programs

In discussions with Dr Greg Clary at Texas A&M University, Center for Rural Entrepreneurship we found that the following critical steps needed to be taken by the communities in planning, recruiting and assisting local entrepreneurs. “First”…Clary says, “The community must contact the Center and express their intent to apply for the Entrepreneur Ready Community certification”, an initiative produced by the University and administered by the Center. After an orientation session which is facilitated by the Center and community leadership. Materials which outline the certification process are presented and discussed. A check list used by the Community contained the following condensed steps in this process:

• Form a leadership team to facilitate the plan and to provide oversight.
• Assessments of the community and the needs assessment of the entrepreneur and current business are to be completed and discussed.
• Develop networks of support professionals, entrepreneurs and local business owners together with local resources for obvious educational benefit of all.
• Give access to capital strategies identified by the forgoing actions.
• Provide workshops at which information beneficial to the development of this plan can be disseminated.
• Finally, to develop a long-term action plan for program sustainability.

As you can imagine the development guide is extensive in detailing the steps and depends is a word most heard in answer to questions relating to estimated time necessary to complete each task and to arrive at a finished project.

Similar research was done with Rutgers University; The Center for Urban Entrepreneurship & Economic Development, DR D.L.Ogalvie,  and much was learned about the outsourcing of consult and other professional advisors to urban entrepreneurs. From what we learned of the services delivered to urban entrepreneurs it was suggested the following information be reviewed by prospective professional consultants wishing to contract with the community and/or the individual entrepreneur.

MAGU Worldwide is interested in sharing the following skills needed and how they are directed at the entrepreneur and offered at packaged fees.

• Start-up  Plan Development

Included with the details of services are these quick offering summaries:

1. This is for entrepreneurs with new ventures that need to get a quick start
2. You will have two (2) intensive 2-hour strategic planning sessions
3.  And two (2) 90-minute sessions with a business advisor to create your plan for moving forward.

• Business Review and Assessment:  An expert from our business plan review team will be assigned to your project and explain the process of planning your business.  

1.      The expert will schedule personal meeting with you to review your plans and discuss your business and will provide you with a verbal Plans Critique that will offer suggestions ways that you can improve your business plan.  

2.      A reviewer will be available to re-read your updated plan and will provide final feedback via email. Additional planning meetings may be required.

• Business Plan Development: 

MAGUWW will assign a professional associate to work with you to prepare:

1.      Professional business plan that will facilitate funding efforts, and serve as an operational guide for management.  

2.      During the term of this project, we will also provide general strategic advice with respect to business matters relating to or affecting your ability to carry out the functions for which the business plan is being developed.

3.      The business plan development process includes:

1) Investigation,

2) Business Plan Preparation,

3) Review

4) Delivery.  Deliverables include bound and electronic copies of your business plan.  Pricing is based on the complexity of the financial model, amount of money being sought, amount of money being raised and type of funding being sought.

• Financial Modeling/Financial Assumption Development

Many people write long business plans that never answer the question... How does this business make money?

1.      To properly answer that you will be assigned an advisor and business coach to work with you to develop a logical financial model that you can agree with..  

2.      After providing your business plan, your coach will have one (1) scheduled personal meeting with you and three to five telephoned coaching sessions to discuss components of your business model, assumptions, case scenarios and formatting.

• PowerPoint Presentation Development:

A presentation expert will work with you to prepare a PowerPoint presentation.  Material for the presentation will be taken from your business plan or other similar text.  Our experts know how to develop presentations that focus the viewer on the key points that you want to make.  Your presentation will be developed considering the business subject matter, formatting clarity, story development and presentation style.  The overall goal is to make sure that your presentation clearly conveys the intended message to the target audience.

• Verbal Business Presentation.
        The best presentation delivered poorly will not get you the result you want.  

A verbal presentation coach will work with you in four (4) hours of a scheduled series of personal meetings to refine your presentation in your voice and style.

A Call to Action

We at MAGU Worldwide ask you to give us some feed back on each one of these formerly submitted proposal items. It is not clear whether these were all part of one package or some submitted separately by individual consultants. What we know is that they were examples of what had been submitted to the University Center.

We would also like you to submit your profile and identify the areas of your expertise for our database of qualified business consultants willing to serve with us in rural communities. There is no prerequisite for living in or having knowledge in rural towns to serve with us in this undertaking.

Please share your ideas and research with us on how to best service these communities and the hundreds of entrepreneurs and local small businesses applying to these Programs.

For the fastest response please email me at mgsoltis@yahoo.com  and use the word RURAL on the subject line. Let’s talk Business!