Not Silicon Valley: Entrepreneurship, Everywhere
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Can a strong entrepreneurial ecosystem exist outside the core hotbeds of venture activity, such as San Francisco, New York City or Boston? As more cities and regions attempt to understand the key ingredients to generating new high-growth jobs and venture activity, the most successful entrepreneur-focused strategies remind us that entrepreneurship comes in many shapes and sizes. This panel features economic developers and thought leaders with experience in supporting every kind of aspiring business - from the second-stage company to the Main Street storefront to the home-based microenterprise. Learn new ideas on how to provide the right combination of assets and services to build an entrepreneurial environment with a universal focus and comprehensive results. What you will learn: • How to support multiple types of entrepreneurs and identify the value that each brings to your community • Ideas for building an entrepreneurship strategy based on your community's unique characteristics • Proven techniques for addressing the most important needs of small businesses at different stages in their development Moderator: Maria Meyers, Director, University of Missouri-Kansas City Innovation Center, Network Builder, US SourceLink, Kansas City, MO Speakers: • Charlie Brock, President and CEO, Launch Tennessee, Nashville, TN • Mark Hays, Market Intelligence Expert, SizeUp for Local Business Intelligence (LBI), San Francisco, CA • Nathan Kurtz, Manager in Entrepreneurship, Ewing Marion Kauffman Foundation, Kansas City, MO • Christian Saublens, Director, European Association of Development Agencies (EURADA), Brussels, Belgium
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Not Silicon Valley: Entrepreneurship, Everywhere
- 1. Not Silicon Valley: Entrepreneurship, Everywhere
- 2. Not Silicon Valley: Entrepreneurship, Everywhere Mark Hays www.SizeUpLBI.com
- 4. “Hey, let’s build the next silicon valley in our community.”
- 5. Will the real Silicon Valley please stand up?
- 6. What Makes Silicon Valley Unique? • People • Culture • Universities • History • Environment • Technology
- 7. Silicon Valley People: Young, driven, focused, smart
- 8. People Completeness. Entrepreneurs, executives, investors, accountants, lawyers, etc. all in the same place
- 9. Culture • Open work environments – Formal Hierarchy is not the norm – Work hours are what you want/need them to be • Ideas and brainstorming happen casually between businesses • Failure isn’t failure
- 10. Universities Delivering Silicon Valley Talent (percent of grads that go to Silicon Valley) • Local: San Jose State, UC Berkeley, Stanford, UCSF • Harvey Mudd College- 19% • MIT- 13% • Yale- 11% • Duke- 8% • Dartmouth- 7% • Princeton- 7% • Hartford- 5% • Brown- 5% http://www.bizjournals.com/sanjose/news/2013/12/17/the-top-10-colleges-that-fuel-the.html?page=all
- 11. Universities Partnerships with businesses in the Valley – Providing talent that meets specific needs of companies – Research
- 12. History • The military played a vital role • The valley is already established • Countless amount of businesses that have already succeeded and helped evolve Silicon Valley into what it is today. This makes recruiting new innovative businesses very easy and makes competing with them nearly impossible.
- 13. A brief history of Silicon Valley • Vacuum Tubes • Test Equipment • Microwaves/Defense • Integrated Circuits • Personal Computers • Life Sciences • Internet • Cleantech • Social Media
- 14. Environment • Its sunny 200+ days per year • Rarely too hot or too cold – Air conditioning doesn’t exist in a lot of houses • 30 minutes from the beach • 5 hours from the nations best ski slopes • Redwoods a short drive north
- 15. Soooo…. Can you be the next Silicon Valley?
- 22. Questions you really need to answer: 1. How can we be the best and most entrepreneurial community we can be? 2. How can we help our companies grow faster than an organic approach? 3. What do our entrepreneurs and existing businesses need to grow?
- 23. What you should do: 1. Identify what your community is good at or has potential to be good at. – A downside to this is that you could focus all of your attention on businesses that fit into a certain cluster and neglect those that do not. 2. Provide services to entrepreneurs and business owners so they can grow – Economic Gardening – Business Accelerators – SBDC’s – SBA trainings
- 24. Challenges to Overcome (that you can overcome) • How can you serve all of your entrepreneurs with limited staff capacity and budget? • How do you serve all businesses and not just the ones in your identified cluster or the rapidly growing gazelle’s? • How do you support businesses in industries in which your experts have no expertise? • How do you serve busy entrepreneurs on their watch?
- 25. Big Businesses are a Big Problem for Small Businesses
- 26. Businesses Want and Need Data Metrics (they lack perspective but want it) Challenge Result Locally focused Miss broader trends Inwardly focused Not paying attention to competitors Lack benchmarks and metrics Don’t know how they are doing, but want to know. Source: CEB Research (2014 Marketing to Small Business Summit)
- 27. Why Small and Medium Sized Enterprises Use Business Intelligence Small Enterprise • Revenue Growth • Increase Competitive Advantage Mid-Sized • Operational Efficiency Source: Dresner Advisory Services “Small and Mid-Sized Enterprise Business Intelligence Market Study” 10/2014
- 28. SMBs are embracing data analytics by necessity Not sure 8% Don't use, and not likely to in next 12 months 33% Don't use but likely to in next 12 months 30% Yes 29% Does your SMB use analytics? 29% of SMBs currently use analytics, and 30% plan to use analytics within the next 12 months. Source: BIA/Kelsey LCM Wave 17, Q3/2013
- 67. Not Silicon Valley: Entrepreneurship, Everywhere For more information visit www.SizeUpLBI.com Mark Hays Big Data for Small Business
Hinweis der Redaktion
- But what you can be is the best you possible
- The first section is our Business and Industry Analysis Section. The part of the tool will help business owners benchmark themselves against others who do exactly what they do. All the user has to do is simply type in what they do, and where they do it at. SizeUp LBI is both Industry and Geographic specific.
- At this point, the user simply plugs in numbers that they already know about their business. Each section will show them where they stand in that category versus like businesses in their city, county, metro, state, and across the nation.
- After submitting each category, the user can then view each category and its results on one single page
- The Advertising Analysis Section helps users understand which areas would be the most ideal to do their advertising.
- This portion of the tool first highlights where the most revenue is generated by businesses within your industry. It is good to know where the most money is being spent if you are looking to capture those dollars!
- There is also a tab for Most Underserved Markets which will take into account how much revenue businesses are making versus how much money is being spent by households in the same area. This map is highlighting areas that may be potential untapped markets.
- To take your research a step further, you can create additional filters that will narrow down your target areas even more!
- The Competitive Intelligence section will give users a better understanding of where their competitors, potential customers, and potential suppliers are located.
- By clicking any icon in this section, users can obtain more information about potential customers/suppliers including phone numbers and websites!
- Not only can you identify potential business customers in the section, but you can also create a heat map that will show where the highest household consumer expenditure is. Ideally this will help users identify areas that have high consumer expenditure, but few competitors.
- The Demographic Analysis section will give users access to in-depth demographics
- Users can search for demographics around a place (city, county, metro), within a custom boundary, or around a specific address.
- Users can identify specifically who they believe is their target market and the tool will create a heat map highlighting where the densest populations of that category live. This eliminates the need to guess which parts of town the demographic you are searching for lives.
- If you do business across city or county lines there is no need to run multiple reports, simply draw a polygon and the tool will load only the demographics of the areas you tell it to.
- This portion of the tool also allows users to search demographics, consumer expenditure or Labor Force around a specific address. You can do this both as a radius around an address or as drive time to that specific location.