Been thinking a lot about entrepreneurs and startup businesses. Much of the talk in the Michigan area is about how it's not going to be the rebirth of the big corporations that ultimately pull us out of our economic downturn, but the rise of hundreds of smaller entrepreneurs with great new ideas. Our area is flush with them. All the brain power and entrepreneurial spirit that has fueled this area and the country is still there. But, now people are taking things into their own hands and taking their own great ideas to create something big in their own corner of the world. And with the Internet allowing anyone to go global, the timing is right.
Startups are everywhere. As a marketing and research firm, we're talking to more startups and entrepreneurs than ever before. There's some truly great ideas being developed right in our area – on a global scale. Some we'll partner with and some we won't, depending on how we feel their ideas mesh with ours. As noted in an earlier post, I attended Startup Weekend Detroit last month and there are a few startup companies that are still going strong that were developed there. Even at our monthly Social Media Club Detroit meeting this week, the guest speaker was a startup called MyNewMarketplace.com who unveiled their new company to us as their initial beta site went live. Many of the friends I've met in the last few years are starting up their own companies, even hosting a "solopreneurs" party and tweetup recently.
I found this great video on how you, as an entrepreneur, can change the world. Check it out
Video: Entrepreneurs Can Change The World
So, what do you think? Have you been seeing more and more entrepreneurs and startups lately? Do you think they're the key to turning our economy around? I'd like to know if you're seeing what I am.
Mike McClure, Yaffe Partner & Entrepreneur
I believe this trend it fairly typical – economic downturns tend to see an uptick in entrepreneurs. As people are displaced out of their (previously) stable jobs, they begin to explore other opportunities. Going your own way can be the best way to start again. That’s exactly what I did when I opened my studio, Y INTERACT, for business in 2001. Plus, costs tend to be lower (rent, talent, etc), everyone’s open to barter arrangements, and potential clients start looking for smaller, more nimble, and less expensive, alternatives.
As we all know, the trick is not starting a business. The trick is staying in business! Good luck to all the entrepreneurs out there! We are the engine of the US economy.
Absolutely, Ahmed. That is the way things tend to go. But, I don’t remember it being so prevalent in past times like this. I think the connectivity and access allowed by the Internet has given so many more entrepreneurs a forum to put their new ideas forth.
Mike
Absolutely agree. The US economy has always done better when small businesses are thriving. This region of the country just forgot how to do that. It’s not a question of talent, we’ve got more researchers here than anywhere else in the country outside of Boston. It’s a matter of reprogramming how we think about employment!
BTW, the interview I did for the Detroit Regional News Hub with Jake Sigal from Livio Radio is almost an Entrepreneurship 101 class. The guy is a blast to talk with!
http://blog.thedetroithub.com/2010/06/25/funded-in-metro-detroit-livio-radio/
Very true, Dave. We are being forced to reprogram ourselves due to current economic conditions – and that’s actually a good thing, in the long run.
Thanks for sharing the link to your interview – good stuff.
Nice job on this, Mike. Saw your comment on OPEN Forum.
The Franchise King®
Thanks, King!