Many of you are thinking bigger to identify billion dollar opportunities too!
Submitted by: John Warner on Aug 25, 2010 at 6:03 pm
Tagged with: Entrepreneurship, Innovation
Source: Swamp Fox
Well, did touch a nerve with many of you last week in my post, I need to take my own advice... think bigger!
I mentioned that a venture capitalist friend had been raising capital from west coast firms who were interested in billion dollar opportunities. Most entrepreneurs in the southeast, including me, think too small. I am not suggesting being imprudent. The mantra of one west coast firm is "Think big. Act small. Increment your way there." That is good advice. But what more entrepreneurs need to be incrementing their way to is a $1 billion company.
This reminds me of another post I wrote, There`s no one there I really wanted to talk to..., about a recent lunch with a executive of a global corporation. After suggesting to him that there are incredibly talented and valuable diamonds in his backyard, he looked at me and said, "I've lived here all my life, and there is no one here interesting to talk to." Hmmm... as succinctly as anyone has put it, that defines the cultural challenge we face.
Your feedback has me inspired me that many of your are not having any of that head trash. We're beginning to believe we can accomplish big things. If fact, some of you are quite indignant that someone suggests that we can't. Not everything will be a billion dollar opportunity, but something here will be, and perhaps several somethings.
Let's go mining for diamonds in our backyard!
| Organizations | Swamp Fox |
|---|---|
| Source | Swamp Fox |
| Submitter | John Warner |
| Tags | Entrepreneurship, Innovation |
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I concur with John. If we don't think big we'll never create the intellectual infrastructure to achieve spectacular growth. Though I have only been in SC for two years, I've observed that there is a tremendous amount of intellectual capital throughout the state. The problem is that such talent needs the vibrancy and energy that comes from personal networks and being part of an active entreprneurial community. This is why some entrepreneurs leave their hometowns to go to places like Austin, Boston, Reseach Triangle. True entrepreneurs need lots of intellectual capital to help them grow their dreams.
While I fully support the "cluster" concept of encouraging businesses in similar industries to congregate, it is equally important to encourage entrepreneurially-inclined marketers, lawyers, accounting and other professionals who understand the very different perspective of entrepreneurs who are "thinking big." Big thoughts require growth-oriented business strategies. The product or invention is not enough. Thanks in part to Innoventure, Greenville has that special entrepreneurial buzz about it. The challenge is to network our talent throughout the state.
Charles R.B. (Chuck) Stowe