Inside VT KnowledgeWorks

So You Want to Launch a Business...in Silicon Valley

An excerpt from Who really likes Silicon Valley? from So you want to launch a business...., the blog for entrepreneurs, by Jim Flowers, executive director of VT KnowledgeWorks.

If you are a budding techno-entrepreneur looking for a cool place to live and grow a company, you might want to take a closer look at Knoxville, TN, and Madison, WI, and Blacksburg, VA and Columbia, MO, and Fort Collins, CO, and all the other out-of-the-way university towns with great lifestyle features and low costs of living. You can make your investment dollars go more than twice as far in any one of those very pleasant, high-culture, family-friendly spots.

Oh, and by the way, they all have high-speed internet access, too. And no earthquakes.

I'm just sayin'...

Read the full post: Who really likes Silicon Valley?

VT KnowledgeWorks encourages and enables creative entrepreneurship world-wide, through innovative curriculum, local business resource centers, and a global network of cooperating regions, all focused on three essential contributors to success: clear understanding of fundamental business principles; access to timely, relevant information; and meaningful personal and corporate relationships. It is a subsidiary of the Virginia Tech Foundation, funded through the continuing confidence and enthusiasm of its clients, sponsors and friends, both corporate and individual. Its world headquarters is in the Virginia Tech Corporate Research Center in Blacksburg, Virginia, USA.

VT KnowledgeWorks sponsors include Attaain, Inc., BB&T, The Branch Group, Handshake 2.0, Harris Office Furniture, Hodges, Jones & Mabry, P.C., Hutchison Law Group, LeClairRyan, New River Valley Intellectual Property Law, Science Applications International Corporation (SAIC) and The Becher Agency (TBA).

When Inventors Love Too Much

From So you want to launch a business...., the blog for entrepreneurs, by Jim Flowers, executive director of VT KnowledgeWorks. A version of this post first appeared as Beware of MOXIE goggles!

[Here's] one of the most common entrepreneurial mistakes. "Is my enthusiasm clouding my judgment?"

Unfortunately, I regularly meet people for whom the answer to that question is a resounding "YES!"

Inventors really love their inventions. In fact, they often love them so much that they cannot recognize apathetic responses from their intended buyers. It's not just that they don't believe negative feedback. They cannot process it at all. Their beliefs are so strong that they exclude from consideration any and all information that might generate doubt.

Read the full post:  Beware of MOXIE goggles!

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VT KnowledgeWorks encourages and enables creative entrepreneurship world-wide, through innovative curriculum, local business resource centers, and a global network of cooperating regions, all focused on three essential contributors to success: clear understanding of fundamental business principles; access to timely, relevant information; and meaningful personal and corporate relationships. It is a self-sustaining not-for-profit subsidiary of the Virginia Tech Foundation, funded through the continuing confidence and enthusiasm of its clients, sponsors and friends, both corporate and individual. Its world headquarters is in the Virginia Tech Corporate Research Center in Blacksburg, Virginia, USA.

VT KnowledgeWorks sponsors include Attaain, Inc., BB&T, The Branch Group, Handshake 2.0, Harris Office Furniture, Hodges, Jones & Mabry, P.C., Hutchison Law Group, LeClairRyan, New River Valley Intellectual Property Law, Science Applications International Corporation (SAIC) and The Becher Agency (TBA).

Being in The Winner's Circle Starts with Moxie

From Anne Giles Clelland, founder of Handshake Media, Incorporated, a VT KnowledgeWorks member company and manager of Inside VT KnowledgeWorks, the VT KnowledgeWorks blog:

Jim Flowers, the executive director of VT KnowledgeWorks, has a fascinating series going on his top-rated blog for entrepreneurs, So you want to launch a business... 

"The Winner's Circle" on Jim's blog features successful entrepreneurs and their answers to his question, "What is the single most important strategic decision you ever made?"

Here are the entrepreneurs featured in Jim's series so far:

• Pat Matthews
• Ed Williams
• Jim Scapa

It's very exciting to read these stories from entrepreneurs with moxie, Jim!  Who's next?!

***

VT KnowledgeWorks encourages and enables creative entrepreneurship world-wide, through innovative curriculum, local business resource centers, and a global network of cooperating regions, all focused on three essential contributors to success: clear understanding of fundamental business principles; access to timely, relevant information; and meaningful personal and corporate relationships. It is a self-sustaining not-for-profit subsidiary of the Virginia Tech Foundation, funded through the continuing confidence and enthusiasm of its clients, sponsors and friends, both corporate and individual.  Its world headquarters is in the Virginia Tech Corporate Research Center in Blacksburg, Virginia, USA.

VT KnowledgeWorks sponsors include Attaain, Inc., BB&T, The Branch Group, Handshake 2.0, Harris Office Furniture, Hodges, Jones & Mabry, P.C., Hutchison Law Group, LeClairRyan, New River Valley Intellectual Property Law, Science Applications International Corporation (SAIC) and The Becher Agency (TBA).

When Is It Time to Stop a Start-up?

From Jim Flowers, executive director of VT KnowledgeWorks. A version of this post first appeared on Handshake 2.0.

Anne Clelland, the founder of Handshake 2.0, asked me a really tough question.  "How," she asked, "can entrepreneurs know when it's time to give up and move on?"

How, indeed?  What if they stop too soon?

"Many of life's failures are people who did not realize how close they were to success when they gave up."
- Thomas A. Edison

What if they continue, for apparently valid, but faulty reasons?

"You got to know when to hold 'em, know when to fold 'em, know when to walk away, and know when to run."
- Kenny Rogers

Eileen Shapiro and Howard Stevenson, in Make Your Own Luck, provide a surprisingly practical method for deciding whether to continue a "bet" of any kind.  You can check out the relevant excerpt here.

The clever and diverse methods we all employ to make poor decisions are catalogued by Joseph T. Hallinan, in Why We Make Mistakes.

What these and other experts point out is a fundamental human condition.  How we feel colors what we think we know.  What we believe controls the knowledge available to us. 

If you question these assertions, check out the Ladder of Inference.  And, of course, no two people see a situation through the same eyes.

So - my less-than-definitive answer to Anne's tough question is this: when it's time to quit, you'll know it.

You may well be incapable of proving it, but you will certainly know it.  You will know it in a personal way, perhaps useful and convincing only to you; but you will know it nonetheless.

To put that into my favorite metaphorical context: MOXIE is the intersection of your Power to take action and the intensity of your Purpose.  When your MOXIE is exhausted, it is time to quit.

***

Jim Flowers is the executive director of VT KnowledgeWorks. He writes the top-rated blog for entrepreneurs, So you want to launch a business... 

***

VT KnowledgeWorks encourages and enables creative entrepreneurship world-wide, through innovative curriculum, local business resource centers, and a global network of cooperating regions, all focused on three essential contributors to success: clear understanding of fundamental business principles; access to timely, relevant information; and meaningful personal and corporate relationships. It is a self-sustaining not-for-profit subsidiary of the Virginia Tech Foundation, funded through the continuing confidence and enthusiasm of its clients, sponsors and friends, both corporate and individual.  Its world headquarters is in the Virginia Tech Corporate Research Center in Blacksburg, Virginia, USA.

VT KnowledgeWorks sponsors include Attaain, Inc., BB&T, The Branch Group, Handshake 2.0, Harris Office Furniture, Hodges, Jones & Mabry, P.C., Hutchison Law Group, LeClairRyan, New River Valley Intellectual Property Law, Science Applications International Corporation (SAIC) and The Becher Agency (TBA).

An Identified Market Opportunity

From Roanoke.com: Have an idea for a new business? It pays to do your homework first (our bold):

JIM FLOWERS, director, VT KnowledgeWorks

What is the role of entrepreneurship now that we're in a period of economic recovery?

Many of the new businesses started during the recession were formed by displaced workers in response to unemployment, rather than in response to some clear economic opportunity. I view that phenomenon as statistical entrepreneurship, not real entrepreneurship.

Unfortunately, the agencies that count these things do not have a good way to tell the difference between a real venture, a hobby business and a defensive attempt to make a buck while temporarily unemployed. In a period of renewed economic growth, on the other hand, there are presumably more chances to form a business that addresses a genuine opportunity. If I am correct, we ought to see, in the long run, a higher survival rate among companies being formed now, as opposed to those started during the previous two years.

What's the one thing you wish every would-be technology entrepreneur knew before he or she decided to launch a small business in today's climate?

I am convinced that most business ventures that fail should never have been attempted in the first place, regardless of the economic climate.

Far too many people launch businesses based on wishful thinking about market behavior. They project onto a market some desired response to their cherished invention, rather than identifying a clear and compelling market opportunity and then responding with a product or service that addresses that opportunity with uncommon power.

I wish every aspiring entrepreneur would take advantage of all the information now available to confirm that he or she truly has identified a market opportunity -- a growing population with a compelling situation. Only then should they invent a product or service, one that addresses buyers' needs and sets them apart from competitors and substitutes.

via www.roanoke.com

From the Cox Business Executive Discussion Series:

THE NEW AGE OF ENTREPRENEURS: Starting up small business in 2011

What better time to launch your own business than when the economy tanks and jobs become scarce? Business startups reached their highest level in 14 years in 2009, during the height of the recession, according to the Kauffman Foundation. But wanting to start a small business isn't just about having a great idea, especially when start-up capital is scarce. Join our panelists for a discussion about the challenges and rewards of entrepreneurship in the wake of the Great Recession.

Jim Flowers, Executive Director of VT KnowledgeWorks, will join panelists David Catalano, Terry O'Shaughnessy, Wayne E. Flippen and Laura Godfrey.

Wednesday, May 4, 2011
7:30 AM Registration and breakfast
8:00 AM Program

Sheraton Roanoke Hotel & Conference Center
2801 Hershberger Road NW
Roanoke, VA 24017
(540) 563-9300 ‎
Directions (Google Maps)

Admission is free.  Registration ends Monday, May 2, 2011.  More information.

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VT KnowledgeWorks encourages and enables creative entrepreneurship world-wide, through innovative curriculum, local business resource centers, and a global network of cooperating regions, all focused on three essential contributors to success: clear understanding of fundamental business principles; access to timely, relevant information; and meaningful personal and corporate relationships. It is a self-sustaining not-for-profit subsidiary of the Virginia Tech Foundation, funded through the continuing confidence and enthusiasm of its clients, sponsors and friends, both corporate and individual.  Its world headquarters is in the Virginia Tech Corporate Research Center in Blacksburg, Virginia, USA.

VT KnowledgeWorks sponsors include Attaain, Inc., BB&T, The Branch Group, Handshake 2.0, Harris Office Furniture, Hodges, Jones & Mabry, P.C., Hutchison Law Group, LeClairRyan, New River Valley Intellectual Property Law, Science Applications International Corporation (SAIC) and The Becher Agency (TBA).

Top Blog for Entrepreneurs by Jim Flowers

So you want to launch a business..., the blog for entrepreneurs by Jim Flowers, Executive Director of business acceleration center VT KnowledgeWorks, was named to the Top 35 Entrepeneur Blogs by Online MBA.

From Online MBA:

The world of entrepreneurship is one of risk and excitement. Diving into this field without thorough preparation is a recipe for disaster which has been showcased by how frequently start-ups tend to fail. These award-winning blogs will help ease your way into starting your own business, providing you with frameworks upon which you can build your dreams. No longer will you fear doing your own accounting, negotiating for financing, and formulating a business plan. Knowing is half the battle, and we’ve taken care of that for you! So please join me in congratulating the recipients of the Top Entrepreneur Blog Award, presented by Online MBA!

 
 

***

VT KnowledgeWorks encourages and enables creative entrepreneurship world-wide, through innovative curriculum, local business resource centers, and a global network of cooperating regions, all focused on three essential contributors to success: clear understanding of fundamental business principles; access to timely, relevant information; and meaningful personal and corporate relationships. It is a self-sustaining not-for-profit subsidiary of the Virginia Tech Foundation, funded through the continuing confidence and enthusiasm of its clients, sponsors and friends, both corporate and individual.  Its world headquarters is in the Virginia Tech Corporate Research Center in Blacksburg, Virginia, USA.

VT KnowledgeWorks sponsors include Attaain, Inc., BB&T, The Branch Group, Handshake 2.0, Harris Office Furniture, Hodges, Jones & Mabry, P.C., Hutchison Law Group, LeClairRyan, New River Valley Intellectual Property Law, Science Applications International Corporation (SAIC) and The Becher Agency (TBA).

Money and Motivation

This post is from Money - the universal scorecard by Jim Flowers, Executive Director of business acceleration center VT KnowledgeWorks, and author of the blog for entrepreneurs, So you want to launch a business...

Money - the universal scorecard

Daniel Pink, in his best-selling book, Drive, presents a solid case for re-examining many of the commonly held notions about motivation.  And he is not alone in asserting that time-honored cash incentive programs simply do not work as intended, and, in fact, may actually be counter-productive in many instances.  Specifically, Pink calls out autonomy, mastery, and purpose as "intrinsic" motivators, possibly even in the same power class as hunger and sex.

As I replay conversations with entrepreneurs I have known, I am called to re-interpret comments about the desire to "get rich" as a convenient wrapping for a deeper need - the desire for personal autonomy.  Autonomy, after all, is one of the "things" that riches actually deliver.  Simply to have money, after all, is not the same as to spend money.

People buy (as all great salespeople know) feelings, not products.  They may say that they want the high performance of a sports car; but they may really want the feelings of power and desirability that come from being seen in such a vehicle.  Likewise, it is easy to map an expressed desire for riches onto the more subtle feelings that riches can enable.

People, says Pink, also crave the feeling of mastery, that they are really good at something, and constantly getting better.  Well, earned money is certainly a handy scorecard for that one.  Most freshly rich people got that way by being really good at something, even if it was something illegal.  Bad crooks don't get rich, after all.

Finally, Pink points out that people tend to want to feel that they are part of something bigger.  He calls that "purpose."  Guy Kawasaki, in The Art of the Start, calls it "meaning."  And Jim Flowers (that's me) uses the word Purpose to encompass both Motivation (me-first stuff) and Meaning (others-first stuff). It turns out, oddly enough, that you can do a lot of good things for others if you have enough money.

So, where is all this taking us?  It demands that we look beyond the money.  As an aspiring entrepreneur, or someone working with entrepreneurs, it does seem like a good idea to pry open the hidden door behind the obvious cash factor, and figure out what that cash represents, what it might enable.  That's really where the drive is coming from.  And that drive is a key determinant of the MOXIE supply that will be available to fight through all the obstacles in the way of success.

Money is not a true motivator.  It's an enabler.  But it is a really handy scorecard.

via www.startwithmoxie.com

Daniel Pink, in his best-selling book, Drive, presents a solid case for re-examining many of the commonly held notions about motivation.  And he is not alone in asserting that time-honored cash incentive programs simply do not work as intended, and, in fact, may actually be counter-productive in many instances.  Specifically, Pink calls out autonomy, mastery, and purpose as "intrinsic" motivators, possibly even in the same power class as hunger and sex.

As I replay conversations with entrepreneurs I have known, I am called to re-interpret comments about the desire to "get rich" as a convenient wrapping for a deeper need - the desire for personal autonomy.  Autonomy, after all, is one of the "things" that riches actually deliver.  Simply to have money, after all, is not the same as to spend money.

People buy (as all great salespeople know) feelings, not products.  They may say that they want the high performance of a sports car; but they may really want the feelings of power and desirability that come from being seen in such a vehicle.  Likewise, it is easy to map an expressed desire for riches onto the more subtle feelings that riches can enable.

People, says Pink, also crave the feeling of mastery, that they are really good at something, and constantly getting better.  Well, earned money is certainly a handy scorecard for that one.  Most freshly rich people got that way by being really good at something, even if it was something illegal.  Bad crooks don't get rich, after all.

Finally, Pink points out that people tend to want to feel that they are part of something bigger.  He calls that "purpose."  Guy Kawasaki, in The Art of the Start, calls it "meaning."  And Jim Flowers (that's me) uses the word Purpose to encompass both Motivation (me-first stuff) and Meaning (others-first stuff). It turns out, oddly enough, that you can do a lot of good things for others if you have enough money.

So, where is all this taking us?  It demands that we look beyond the money.  As an aspiring entrepreneur, or someone working with entrepreneurs, it does seem like a good idea to pry open the hidden door behind the obvious cash factor, and figure out what that cash represents, what it might enable.  That's really where the drive is coming from.  And that drive is a key determinant of the MOXIE supply that will be available to fight through all the obstacles in the way of success.

Money is not a true motivator.  It's an enabler.  But it is a really handy scorecard.

How to Get What You Want - Part 2

"The best way to predict the future is to invent it."

Alan Kay

 

I posted How to Get What You Want - Part 1 way back in 2009.  Here's an excerpt...

Possibly the most challenging obstacle on the path to fulfillment and contentment is the requirement to figure out what the heck fulfillment and contentment look like.  Achievement is do-able, but the other two are elusive.  You can test my bold assertion quite easily.  Define those two terms for yourself.

When you boil it down, the secret to getting what you want is to figure out what that is, to have a clear vision of what success looks like.  Lacking clear visions of a better future, most of the people I meet seem to spend far more energy reacting to changing circumstances than in deliberately creating opportunities to transform their dreams into reality.

How to Get What You Want - Part 2 is even simpler.

ASK FOR IT!!!!

I picked up a simple, challenging phrase from one of the world's great salespeople about 30 years ago.  He was referring to the magical process of changing a prospect into a client; but the logic applies to most any aspirational situation.  He said this...

"If you don't want it, don't ask."

If you really want the order, ask for the order.  Don't wish for it.  Don't dream about it.  Just ask.  Prepare the listener for the question, by providing the information required to make a decision that will favor you.  Ask politely, of course.  But for goodness sake, ASK.

If the answer is no, then you can change course.  If the answer is yes, you can move ahead.

An important corollary to this simple rule is...

Never negotiate with yourself.

What does that mean?  If, for example, you decide that the big client will never consider you because you are a small player and new to the market, then you have said the word NO in their place.  Golly gee, give them a chance to say YES.

Oh, and the same goes for pricing. The notion that your new business must under-price the established market leaders turns out to be baloney in many cases. I can name several entrepreneurs who grabbed serious market share very quickly by positioning themselves as the highest price alternative. They provided superior products and priced them accordingly.

So - figure out what you really, really want. (Tougher than you think.) Position yourself to deserve it. (Good looks usually aren't enough.) Then ask for it, with confidence and no apologies.

via www.startwithmoxie.com

This post is an excerpt from How to Get What You Want - Part 2 by Jim Flowers, Executive Director of business acceleration center VT KnowledgeWorks, and author of the blog for entrepreneurs, So you want to launch a business...  It begins with How to Get What You Want - Part 1.

"The best way to predict the future is to invent it."

Alan Kay

 

I posted How to Get What You Want - Part 1 way back in 2009.  Here's an excerpt...

Possibly the most challenging obstacle on the path to fulfillment and contentment is the requirement to figure out what the heck fulfillment and contentment look like.  Achievement is do-able, but the other two are elusive.  You can test my bold assertion quite easily.  Define those two terms for yourself.

When you boil it down, the secret to getting what you want is to figure out what that is, to have a clear vision of what success looks like.  Lacking clear visions of a better future, most of the people I meet seem to spend far more energy reacting to changing circumstances than in deliberately creating opportunities to transform their dreams into reality.

How to Get What You Want - Part 2 is even simpler.

ASK FOR IT!!!!

I picked up a simple, challenging phrase from one of the world's great salespeople about 30 years ago.  He was referring to the magical process of changing a prospect into a client; but the logic applies to most any aspirational situation.  He said this...

"If you don't want it, don't ask."

If you really want the order, ask for the order.  Don't wish for it.  Don't dream about it.  Just ask.  Prepare the listener for the question, by providing the information required to make a decision that will favor you.  Ask politely, of course.  But for goodness sake, ASK.

If the answer is no, then you can change course.  If the answer is yes, you can move ahead.

An important corollary to this simple rule is...

Never negotiate with yourself.

What does that mean?  If, for example, you decide that the big client will never consider you because you are a small player and new to the market, then you have said the word NO in their place.  Golly gee, give them a chance to say YES.

Oh, and the same goes for pricing. The notion that your new business must under-price the established market leaders turns out to be baloney in many cases. I can name several entrepreneurs who grabbed serious market share very quickly by positioning themselves as the highest price alternative. They provided superior products and priced them accordingly.

So - figure out what you really, really want. (Tougher than you think.) Position yourself to deserve it. (Good looks usually aren't enough.) Then ask for it, with confidence and no apologies.

How to Get What You Want - Part 1

It's really quite simple.  Not easy, not by a long stretch.  But simple, annoyingly simple.

It annoyed me anyway.  Somewhere, somehow, I came to the realization that I was faithfully following the American yuppie rule book.  I was nailing "the agenda."  Good job, nice house, two cars, wife, kids, church membership, everybody healthy.  The trouble was that I couldn't manage to feel fulfilled or contented.

So I set out to fix my life.  Getting off the agenda actually proved to be relatively easy.  It was expensive, and seriously painful; but it was easy.  Quit the job.  Get divorced.  Find some new friends.

Then reality set in.  I didn't have a fresh agenda to replace the one I had discarded.

Possibly the most challenging obstacle on the path to fulfillment and contentment is the requirement to figure out what the heck fulfillment and contentment look like.  Achievement is do-able, but the other two are elusive.  You can test my bold assertion quite easily.  Define those two terms for yourself.

If you can do it easily, I salute your unusual self-awareness.  Stop reading this post immediately.  You've already wasted some valuable time.

I see that you're still reading.  Ha!  I was right - for once anyway.

It appears to me that most people can easily name a particular near-term change that would improve their situation; but they struggle mightily with describing a situation that would qualify as ideal. 

The most common quick fix is money.  Duh.  Close, but probably second is love.  But what if you could live anywhere in the world?  Where would you choose to live?  How would you spend your days?  How would you value yourself?  What sorts of people would surround you?  What relationship would you have with each of them?  How would you dress?  What would you eat?

Too many choices!!  Too many options!!  My head hurts.  Barry Schwartz talks about this in The Paradox of Choice. Jonathan Mead offers help to the most adventurous in Reclaim Your Dreams.

Well, guess what, my friendly entrepreneur.  If you can't figure out what you want, that is precisely what you will get.  If you let your startup business take you where it wants to go, you have a rather slim chance of arriving at the world headquarters of fulfillment and contentment.

One of the most common reasons given for pursuit of entrepreneurship is the need for autonomy, the need to be in charge.  Over and over again, unfortunately, I meet people who have become slaves to the businesses that were supposed to give them freedom.  That's just plain sad.

And I suspect it's because they hadn't figured out where they really intended to go.

via www.startwithmoxie.com

This post is an excerpt from How to Get What You Want - Part 1 by Jim Flowers, Executive Director of business acceleration center VT KnowledgeWorks, and author of the blog for entrepreneurs, So you want to launch a business...  It continues with How to Get What You Want - Part 2.

It's really quite simple.  Not easy, not by a long stretch.  But simple, annoyingly simple.

It annoyed me anyway.  Somewhere, somehow, I came to the realization that I was faithfully following the American yuppie rule book.  I was nailing "the agenda."  Good job, nice house, two cars, wife, kids, church membership, everybody healthy.  The trouble was that I couldn't manage to feel fulfilled or contented.

So I set out to fix my life.  Getting off the agenda actually proved to be relatively easy.  It was expensive, and seriously painful; but it was easy.  Quit the job.  Get divorced.  Find some new friends.

Then reality set in.  I didn't have a fresh agenda to replace the one I had discarded.

Possibly the most challenging obstacle on the path to fulfillment and contentment is the requirement to figure out what the heck fulfillment and contentment look like.  Achievement is do-able, but the other two are elusive.  You can test my bold assertion quite easily.  Define those two terms for yourself.

If you can do it easily, I salute your unusual self-awareness.  Stop reading this post immediately.  You've already wasted some valuable time.

I see that you're still reading.  Ha!  I was right - for once anyway.

It appears to me that most people can easily name a particular near-term change that would improve their situation; but they struggle mightily with describing a situation that would qualify as ideal. 

The most common quick fix is money.  Duh.  Close, but probably second is love.  But what if you could live anywhere in the world?  Where would you choose to live?  How would you spend your days?  How would you value yourself?  What sorts of people would surround you?  What relationship would you have with each of them?  How would you dress?  What would you eat?

Too many choices!!  Too many options!!  My head hurts.  Barry Schwartz talks about this in The Paradox of Choice. Jonathan Mead offers help to the most adventurous in Reclaim Your Dreams.

Well, guess what, my friendly entrepreneur.  If you can't figure out what you want, that is precisely what you will get.  If you let your startup business take you where it wants to go, you have a rather slim chance of arriving at the world headquarters of fulfillment and contentment.

One of the most common reasons given for pursuit of entrepreneurship is the need for autonomy, the need to be in charge.  Over and over again, unfortunately, I meet people who have become slaves to the businesses that were supposed to give them freedom.  That's just plain sad.

And I suspect it's because they hadn't figured out where they really intended to go.

Regional Powerhouses Prepare for Economic Warfare

What does all this mean to an aspiring entrepreneur?

• You might want to figure out how to ride on the coattails of a regional cluster.  Think of all the complementary businesses that formed and grew around the Big Three auto companies in Detroit.
• Make sure any cluster you join is well-positioned against its foreign competition.  If your region loses, you lose, too.
• As a consequence of increased, deliberate clustering, the pace of innovation is likely to increase well-beyond its current breakneck speed.  It's more important than ever to be timely with new product introductions.

 In simpler terms...

1. Where's the party?
2. Who's going?
3. What time does it start?
4. What can I bring that will get me noticed?

via www.startwithmoxie.com

This post is an excerpt from Alert!! Regional powerhouses prepare for economic warfare by Jim Flowers, Executive Director of business acceleration center VT KnowledgeWorks, and author of the blog for entrepreneurs, So you want to launch a business...