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My original questions in 2004 – Is rural Kentucky entrepreneurial-friendly? Is there a culture that values and helps entrepreneurs emerge and prosper?

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Presentation on theme: "My original questions in 2004 – Is rural Kentucky entrepreneurial-friendly? Is there a culture that values and helps entrepreneurs emerge and prosper?"— Presentation transcript:

1 My original questions in 2004 – Is rural Kentucky entrepreneurial-friendly? Is there a culture that values and helps entrepreneurs emerge and prosper?

2 What I Learned from My Research?  Lack of community support for “new ideas” or entrepreneurship;  Lack of regional identity; focus on local counties;  Lack of grass-roots entrepreneurial leaders and coaches;  Limited understanding of resources for entrepreneurs;  Limited networking among natural coaches;  Lack of training for local leaders to become advocates and coaches;  Limited understanding of entrepreneurial culture ;  Hidden entrepreneurial culture exists.  People care about their community  People want to learn more about entrepreneurship

3 What can we do to strengthen the foundation for an entrepreneurial culture in rural Kentucky? Response: Start with the local leaders (bankers, barbers, bartenders... elected leaders, entrepreneurs, farmers, homemakers, retailers, retired people).

4 Build a Leadership Program Recruitment: grass roots leaders in region. Competitive process. Benefits: All expenses paid. Stature and skills, knowledge and network enhanced. Travel and growth.

5 Set high expectations:  Must want to improve community and build entrepreneurial culture WITH others.  Must attend all seminars and travel experiences – 22 days over a 16 month period.  Must do homework between sessions – interviews, regional projects  Must donate hours back to region after graduation.

6 Next Step: What are the skills, knowledge, and attitudes we want to nurture among grass-roots leaders in the region to strengthen the entrepreneurial culture? Responses came from rural entrepreneurship experts and from almost 200 people in the region.

7 Overall goals: Stimulate the imagination of local leaders and give them tools to lay the foundation for an entrepreneurial culture. Give them the venue to create a regional identity, build a strong support network and insist that they make change. Make rural Kentucky the most entrepreneurial-friendly culture in rural America

8 What do we want to nurture in entrepreneurial leaders?

9 Stimulate imagination—see and meet entrepreneurs from a variety of perspectives. Creativity – Create in groups. What should they learn?

10 Learn about appreciative inquiry and how to apply it. The question: What’s working well? Why? Gratitude committee.

11 What the Economic Development consultant saw were problems: “Windy roads” “Rolling terrain” “Sparse population” “Only strategy: Connect to other places” Elliott County, KY

12 “Windy roads are scenic” “Rolling terrain is interesting” “We have dramatic gorges, clear trout streams and nationally-known folk artists, e.g., Minnie Adkins” “Located near Natural Bridge State Park which receives 1 million visitors a year!” Another View Local Leaders, Elliott County

13 Scenic Roadways

14 Folk Art, Barn Mural

15 Natural Beauty, Trout Streams

16 Know thyself and others in the team: Natural leadership styles: (Gallup) strengths, limitations, team gaps Natural Listening Styles Asking probing questions

17 The Importance of Emotions For Learning “You change people by delight. You change people by pleasure” - St. Thomas Aquinas, 13 th Century Mystic and Philosopher

18 Create sense of belonging and connection; Share rooms, meals, rides. Small groups Hospitality Problem-solving Developing shared visions

19 Appreciation of local culture – artistic interludes – poetry, music, dance, farm to table meals.

20 Entrepreneurial coaching “across the kitchen table” building a relationship with an entrepreneur by asking questions over 5-7 sessions to create a business plan involving competitive advantage, marketing research and sales projections, finances, management team needs, partnerships and other issues. no advice or judgment.

21 Making it visceral: Every participant must coach an entrepreneur Mini- grants for practical experiences. Regional teams form to stimulate entrepreneurship during 6 month period - youth entrepreneurship, entrepreneurial contests about waste products, entrepreneurship centers in local libraries, policy work with government leaders

22 Expand awareness of entrepreneurial support network in region and nation – conversations with key providers. Business GovernmentCivic life

23 What local, state and national policies limit and encourage an entrepreneurial culture or mind-set?

24 National or international rural entrepreneurship mobile tour:  We’re not alone.  How other rural area compete and nurture entrepreneurship  Importance of global markets

25 So what? Individual and group reflections – especially, about mini- grant teams and lessons learned from the experience.

26  Donated over 9,000 hours to the community and region;  Made 758 presentations to groups and organizations;  Launched 68 entrepreneurial-friendly community initiatives;  Coached 486 individuals or teams;  Created 224 new jobs as part of coaching efforts (valued at approximately, $8,151,360 for a one year period )  Saved 42 jobs as part of coaching efforts (valued at approximately, $1,528,380 for a one year period)

27  Over 68 entrepreneurial-friendly community initiatives have been launched including youth entrepreneurship in schools, entrepreneurial contests, new networks, incubators in rural areas, entrepreneurial help centers in rural libraries. ... and a tight network of 115 volunteer grass- roots leaders who are committed to strengthening entrepreneurship in the region.

28 Ongoing commitment: Alumni seminars every six months Volunteer commitment for 2 year minimum


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