Done electronically, this can be a fast and easy effort. To narrow it down, you can also specify industries (e.g. restaurant, automotive, etc.) or terms like “founder,” “owner”, “started”. Some papers and organizations (like chambers of commerce) have their own lists of major local business people, and can be a source if the online searches are not possible.
Without using the online services, it is possible to build a list from any class, asking the students for their nominees for best-known local business owners or entrepreneurs. They can also think about local people who went elsewhere and made their fortunes. Another approach is to have students review the local newspaper (or some other source) for a week and list all the entrepreneurs they find.
The point of this exercise is to get students used to the idea that entrepreneurs (and in particular, successful entrepreneurs) are all around them, a major part of any community. Famous ones are fine to know about, and their stories may be especially inspiring, but just knowing the 25 entrepreneurs closest to the classroom can be an eye-opening exercise.For students in your class thinking about (or in the process of) starting their own business, find out which of the BRIE items they have completed. Ask them which items they expect they will complete of get help on by taking this class.
Answers will vary.Andy and Brian were talking over coffee one morning. “Brian,” Andy said, “you know I’ve been repairing clocks as a hobby for some time. Since the nearest clock shop is in Smithton and that’s about 60 miles away, I’ve begun doing it for friends and neighbors. I’m thinking of quitting this job and opening a clock repair shop here.”
“Oh, Andy,” Brian replied, “Are you really sure you want to do that? Hardly anybody starts a business these days – no one even much thinks about doing that anymore. The day of somebody just deciding to open a business and doing it is long gone.
“Even restaurants are no longer small businesses; you gotta buy a franchise from some big corporation these days. Besides, you gotta do something different than anybody else does; you’ve got to come up with an idea no one else has thought of before.
Be a better friend to Andy than Brian was. Correct the errors Brian made and offer Andy some advice that will be beneficial.Small Business or High Growth Venture? Read the brief descriptions below and decide from which of the two types of start-up businesses these quotes are likely to come.“Well, once I saved $20,000, I figured I had enough to get started.”“To get this product out the door, we need to let people know how much they need it. We need to place ads in magazines and maybe offer some special discounts or free offers to get the word out.”“We saw an opportunity to do the same thing in Idaho and jumped right on it!”“I had a good idea, but didn’t know much about selling it, so I hired Fred. Then I needed a really sharp financial person and Carolyn came on board. Soon Sandy in human resources and Ken in manufacturing joined us, and, wow, did they have some good ideas.”“I knew this was a good idea, so I tried it and it worked. There’s nothing like knowing that you were right all along.”“There’d been pizza restaurants for years, but I figured if I started a pizza restaurant that delivered by the slice – you know, so Mom could have mushrooms and the kids pepperoni and Dad could get the works – then I could be successful.”“We were beginning to have trouble making payroll, so I called in my salespeople and had them double the calls they were making.”“I figure it’s my business, it’s my livelihood that’s at stake, so I call the shots.”“I knew we made it when we won the “Entrepreneur of the Year” award.”Small Business (preferred funding source)High-Growth Venture (what’s most important)High-Growth Venture (grow)High-Growth Venture (personal control or delegation)Small Business (acceptance)Small Business (metastrategy)High-Growth Venture (when the firm’s in trouble)Small Business (delegation or personal controlHigh-Growth Venture (acceptance)Complete the following table:
Growth rates
Sales
% of small businesses
High-growth Ventures
High-Performing Small Businesses