One of the premises in the introduction of my new book Everyday Entrepreneur is that I wrote it to encourage entrepreneurs of every stripe across the spectrum. Since the high tech entrepreneurs have been getting the lion’s share of the attention and encouragement from the public and investors alike, they were far from my target market. Tech innovation was the creator of venture capital, setting a precedent for high rates of return that can’t be sustained in other areas. Virtually all other types of entrepreneurs have to struggle for funding because they simply don’t meet the criteria for venture capital. Those that have attracted VC funds often flounder to the detriment of the entrepreneur because the VC gets an agreed upon return which can sap a moderately successful business.
The Creative Destructive Lab at the Rotman School of Management at the University of Toronto (my alma mater) is focused on extreme success with a strong emphasis on taking tech developments from gestation to dynamic success on the international stage. On the surface this seems to be exactly the area that I previously suggested didn’t need my help or encouragement as people are lined up to help in almost every area to develop these type of businesses. So why did I choose to support these high achievers by becoming a partner of the CD Lab? Well here are my reasons:
1. I strongly support that we need to keep our brightest and best talent here in Canada – we are in the midst of a world wide competition to attract talent – success starts with keeping our own
2. Success at this level sets a terrific example for anyone in this country that wants to become an entrepreneur and start a business at any level
3. Both of these factors are critical for us to build a culture of entrepreneurial success to maintain a strong economy and bring in the new talent that every country is striving to attract.
4. If in the process I can influence some of the brilliant MBAs we are graduating to circumvent the conventional and lucrative path to becoming a business executive in favour of applying their abilities to becoming entrepreneurs who solve problems, make things happen, create jobs and provide the drive that leads to success, then my time and effort will have been well spent.
5. The very talented people who apply to the Lab are brilliant in their innovation but still need nurturing on the personal issues involved in becoming an entrepreneur, the fundamental business issues they will encounter and the overall philosophy inherent in being an entrepreneur.
My book will out at the end of November. In the meantime I am enjoying my involvement with the Lab targeting success in a global economy which I firmly believe will centre upon a New Age of Entrepreneurship.