Hire Your Local Entrepreneur

According to the Wall Street Journal, 6/16/09, Entrepreneurs Take Second Jobs to Stay Afloat.

While the second job can be considered "a bridge to better times," one entrepreneur pointed out the dilemma of moonlighting:  "'If I tell people that I was looking for a job, would they think I'm stopping the company?' she asked. 'How is it going to look to my business contacts, to people in the community, that I'm looking elsewhere to get paid?'"

Another pitfall of a second job is " moonlighting may hurt their focus or impede business growth."

To support businesses we believe in, we buy their products.

What can regional advocates of high-tech entrepreneurship do to support local high-tech entrepreneurs when their products are still in the development stage – or whose market may be whole industries, not individual consumers?

There's talk of the development of a local angel investor fund.  That would help. 

Until that happens, maybe each of us can give a local entrepreneur a part-time paying gig. And keep it to ourselves.  Just like their products that  we protect through silence, our local entrepreneurs, too, are still in the development stage.

Comments

  1. Hi Anne,

    Your comments are right-on.

    A way to describe this approach is risk mitigation. In the same way an investor ($ investor or investor of sweat equity) mitigates risk in a portfolio by diversifying investments based on their risk/reward, a smart entrepreneur can use the same approach in judging where to invest time and effort.

    Layered on top of this is the additional complication of the need for immediate cash versus downstream rewards. Offering part-time jobs to entrepreneurs can help. Particularly if healthcare benefits are included. I contend that the biggest hurdle to US entrepreneurs is healthcare coverage.

    Additionally, a regional seed-fund could help many of our local companies/entrepreneurs to decrease the risk during the early stage.

    cheers,
    Sam

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