Building Supportive Networks for Entrepreneurship
Curriculum developed in part with funding from
USDA/RCDI Building Entrepreneurial Community Capacity Project
Slide Narrative Comments
This following provides a narrative to supplement the slides used during the instructor’s
presentation on this topic. The numbered items below correspond with the power point slides
used, with the title slide being number 1.
1. Title slide: Building Supportive Networks for Entrepreneurs
Overview for Instructor:
Local/regional networks are one of the most critical structures needed to build
community capacity for entrepreneurship. Communities with diverse, active networks are
much more likely to provide an environment supportive of entrepreneur formation and
growth.
Networks provide a method for sharing information, expertise, ideas, business
opportunities, solutions to problems, and access to resources and services. They facilitate
the flow of information and resources from those who need them to those who can
provide them. And, networks provide an opportunity for the free flow of ideas and advice
among entrepreneurs and the development of ongoing relationships.
Design of Educational Session:
This session will involve lecture/presentation interspersed with group discussion. The
power point slides and attached notes will lead you through this presentation step-bystep. The discussion exercises will follow lecture/presentation points and are designed to
make the presentation subject matter relevant to the local community situation. Also, the
discussions will provide a way of obtaining information that can be used in future
sessions and as background data for the community’s strategic plan to create
entrepreneurship capacity.
When you have completed this session, gather the group’s input on the flip chart so that it
can be saved for the strategic planning and a final community report.
2. Challenges faced by Entrepreneurs slide:
This slide depicts the disconnectedness that entrepreneurs often feel from the resources,
services, investors, advisors and talent (skilled, qualified employees) that they need to be
successful. This disconnection is even more pronounced in rural areas, where the range of
needed services and resources may not be available locally.
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Wil Shroter, serial entrepreneur and establisher of “Swap a Lease” and “Go Big
Network” as well as six other businesses, was once asked what he thought the greatest
challenge was for entrepreneurs. His response was “establishing a network of resources,
financing, expertise, labor, and services that can help an entrepreneur to be successful.”
He further commented that establishing a “rolodex” or network of these
people/resources/services who you know how to contact can mean the difference between
success and failure for an entrepreneur.
Note to Instructor: The GoBig Network, a virtual network that provides access to
services, resources, talent, expertise and financing, is presented in the latter part of this
session (see slides 15 – 19). Covering GoBig is optional, at the instructor’s discretion. If
you decide you want to try out GoBig with the class, or learn more yourself, there is a
tutorial that provides step by step instructions on the use of the web site’s features at the
end of this slide show (see slides 23 – 30).
3. Needs of Entrepreneurs and Service Provider slides:
Not only does the entrepreneur need access to talent, investors, services and advisors, but
each of these resources/services also needs access to entrepreneurs in order to be
successful in their endeavors.
Examples:
• People looking for jobs need access to entrepreneurs who are hiring, just as
entrepreneurs need access to talented workers who have the specific skills needed to
grow their business.
• Investors are looking for good ventures to invest their capital in (with a reasonable
rate of return projected), while entrepreneurs need financial backing to move their
venture forward.
• Advisors are looking for business startups through which they can share their
expertise (and possibly serve on Boards of Directors), while entrepreneurs need
advice and connections with experienced advisors.
• Accountants, web designers, attorneys, etc. are looking for customers for their
services, while entrepreneurs need these services
4. Networks Bring People Together slide:
Networks bring these parties together and create opportunities for entrepreneurs,
resources, talent, services and advisors. They not only connect entrepreneurs to resources
and services, but they also connect entrepreneurs to other entrepreneurs, facilitating the
flow of information, ideas and expertise.
5. Key Concepts of Network slide:
Networks bring these parties together and create opportunities for entrepreneurs,
resources, talent, services and advisors. They not only connect entrepreneurs to resources
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and services, but they also connect entrepreneurs to other entrepreneurs, facilitating the
flow of information, ideas and expertise.
6. GROUP DISCUSSION #1 - Current Networks slide:
Instructor facilitates group discussion to identify networks that exist in community:
Facilitate a discussion of existing networks in the community by asking the participants
to name and describe the networks currently existing in their community. Identify who is
involved and how? Do they have a convener/coordinator, and who is that? Do they serve
a specific purpose/membership?
7. Three Factors of Successful Networks slide:
There are three key factors to the creation and maintenance of a successful network:
1. An organization or individual commits to taking the lead in guiding the creation and
facilitation of the network. Often this organization is the local Chamber, institution of
higher education or economic development organization (or a partnership of all
three). One example of a successful network is the Corporate Sustainability network
in northeast Ohio (website: http://www.csuohio.edu/business/sustainability/csn.html).
The purpose of this network is to facilitate information sharing and support of
corporate sustainability efforts by businesses in the region. Another is the Southeast
Ohio Women in Networking, a group that organizes events and activities for women
in business to network, share information and resources, and identify business
opportunities. Their web site is http://www.seohiowin.org/
2. Leadership and direction from local entrepreneurs is necessary to create a successful
network. Some networks initially facilitated by local organizations evolve into
entrepreneur-run networks where the leadership and continued success of the network
becomes the responsibility of the business that engage in it.
3. In order for a network to survive over time and be successful, the entrepreneurs must
see value and benefit in their engagement. Many network events use a combination of
informational/educational content (a speaker, for example) followed up by ample
time for entrepreneurs and others to informally engage in conversation and
information sharing. In this way, business relationships that benefit the entrepreneurs
and resource providers are formed that continue beyond the network event itself.
The following slides will address each of these key factors in turn through presentation
and group discussion.
8. Organizational Guidance, Key Factor 1, slide:
These are the activities that the network leader/convener engages in:
•
They guide and manage network activities, for example, they secure speakers,
identify space, promote the network among entrepreneurs
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•
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They formally or informally provide connections between entrepreneurs and between
entrepreneurs and needed services and resources
They actively work to form linkages and alliances among entrepreneurs by going
beyond connections to helping to establish working relationships
Provide examples of each type of involvement.
9. GROUP DISCUSSION #2 – Local Business Network Guidance, Key Factor 1, slide:
Group discussion to be facilitated by instructor:
Ask the following questions of the entire group and record the discussion on flip charts.
Common answers to this question will be Chambers of Commerce, Unions, Retail
Merchants Associations, Professional Organizations, etc. Encourage participants to name
these organizations and talk about the services that they provide and to whom. Also,
encourage participants to talk about the methods these organizations use to connect to
each other, i.e., informal communications, more formal events, web sites, regular
meetings, other.
The purpose of this discussion is to make the participants aware of the range of networks
that already exist, how they operate, and what they provide for their members and each
other. If it is difficult for participants to name these organizations and what they do, it
may indicate that networks are not operating in the community, or, they are not widely
recognized and known.
10. Champion Building Excitement, Key Factor 2, slide:
One of the needs in the community is respected existing entrepreneurs who are willing to
champion the development of network and promote the vision of a connected
entrepreneurial community. These champions are important in creating the excitement
around entrepreneurship and recognition of its value to the local economy.
11. GROUP DISCUSSION #3 – Champion Building Excitement, Key Factor 2, slide:
Group discussion to be facilitated by instructor:
In a previous entrepreneurship session the participants identified the organizations that
serve business in the community. The purpose of this discussion is to list, by name,
existing respected entrepreneurs, talk about their vision for entrepreneurship, and identify
what they do to create excitement around entrepreneurship in the community.
If the group is large enough, it works well to break them into smaller teams of 4-6 people
and have them self-facilitate their group’s answers to these questions on a flip chart. Give
each group 15 – 20 minutes to discuss these questions, and then have them present their
results (3 minutes per team) to the overall group. After all of the teams present, the
instructor will then facilitate the identification of common names from each group’s list
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and how many groups identified the same person. Try to find the consensus in the
identification of champions. Then facilitate a discussion about their vision and how they
create excitement. Finally, have the teams share names of potential champions, find the
consensus names among the teams, and have the entire group discuss why they think
these entrepreneurs could be potential champions.
Save these flip charts to be used as data for subsequent sessions and the strategic plan.
12. Continued Benefits to Entrepreneurs, Key Factor 3, slide:
Networks must continue to provide benefits to entrepreneurs in order for them to remain
involved. Some of the benefits that entrepreneurs gain through network participation
include:
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Access to markets: by building relationships with other entrepreneurs, new market
opportunities can be identified and pursued.
Access to assistance and ideas:
Access to latest information:
Access to resources:
Successful collaboration activities:
13. GROUP DISCUSSION #4: To be facilitated by instructor
Facilitate a group discussion of these three questions, and record responses on flip charts.
Save these flip charts to be used as data for subsequent sessions and the strategic plan.
14. Building a Network; group discussion:
Group discussion to be facilitated by instructor.
Facilitate a group discussion around these three questions and record participant’s input
on flip charts. Save these flip charts to be used as data for subsequent sessions and the
strategic plan.
15. Go Big Network:
The next five slides will present a “virtual” (internet web based) network for
entrepreneurs…the Go Big network. This network was created by an entrepreneur to
address the challenge of finding resources and advice when trying to start up or grow a
business.
Suggested activity for the instructor is to log on, with the class, to GoBig and walk
through the various features it provides online. Slides #23 through #30 can be used as a
tutorial for the instructor and/or be used to present to session participants if more depth
on GoBig is desired.
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16. What is the GoBig Network?
GoBig is a virtual network created by a “serial entrepreneur,” Wil Schroter, because of a
recognized need. Will contends that the most difficult challenge in getting a business
started is finding and accessing needed expertise, qualified labor, capital, and services.
17. What does the GoBig Network do?
What does the Go BIG Network do for entrepreneurs/start ups?
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•
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Connects entrepreneurs with people who can help make them successful
Provides rural entrepreneurs with convenient access to needed resources
Levels playing field by counterbalancing rural isolation and limited services
Go Big levels the playing field created by distance to cities where most resources are
located. Also, Go Big provides access to the “higher level” services and resources needed
by entrepreneurs in the knowledge economy, for example:
Skilled labor; technology workers, etc.
Patent attorneys
Angel and venture capital
Experienced business advisors
Target markets
18. How GoBig works:
This slide outlines the major features and services of the GoBig Network.
19. What the GoBig Network can do:
This slide is best used along with an online connection to the GoBig Network site. The
web site address is: http://www.gobignetwork.com
As you explain each of the steps, you can access the page that pertains to that step and
understand what it looks like and how it works. The best way to learn how Go Big works
is to explore the different network tools that it offers.
Step One: Create a Member Profile
Create you own personal member profile and identify your specific role
1. Log on to Go Big site
2. Click on “Join Us” tab at top of page
3. Complete member profile and set up an account
Step Two: Search other member’s profiles
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Search Network for other network members based on their roles to join or establish
Communities of Interest.
Network members also connect on the basis of their needs, for example:
Investors find startups to invest in
Employees find jobs
Startups find advisors
Make contact with these resources to access resources and services
Step Three: Send and receive messages
Log in to your personal profile page.
Messaging features:
Members have two inboxes for messages. This flexibility allows members
to manage inquiries effectively. The two inboxes include:
“In” Network inbox
Friends they know
Friend of Friends they know
“Out of Network” inbox
People they don’t know explicitly
Step Four: Form networks
Members can invite their friends to form a network
Networks allow members to share” rolodexes” with each other
System tracks “who knows who” so introductions can be made effectively
Step Five: Post public ads and requests
Members can post requests in a public classified ad directory
Allows everyone to know who is looking for what
Members can be notified by e-mail when ads are posted that they are interested in
Step Six: Post private network requests
Requests can be sent privately to groups of members
Members can set preferences based on what types of requests they want to receive
Reports detail who received each request and who has responded
Step Seven: Establish private groups
Private groups can be created among members
Members can send requests and messages within just the group
Allows member-based organizations to private label network
Getting Started
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Setup an account, invite members, post messages and grow your virtual network.
20. Next Step: Building a Network
Steps to follow in building an entrepreneurial network in your community.
See http://www.publicforuminstitute.org/nde/sources/reports/2001-networks.pdf
for more information.
21. Additional Resources
The following web sites and publications are an excellent source of information on
networks and networking for entrepreneurs:
The role of Clusters and Bridges in Networks for Entrepreneurs:
http://www.hks.harvard.edu/netgov/files/talks/docs/04_10_06_seminar_james_rauch_clu
sters_bridges_netw.pdf
Entrepreneurship Summit Executive Summary: Kauffman Foundation and the
International Economic Development Council – September 2008
www.kauffman.org
The following resources provide information and research on the importance of networks
to successful entrepreneurship:
Prior research has shown that successful entrepreneurs have large networks of casual
acquaintances that provide ideas, access to potential investors and access to potential
customers (Aldrich, Rosen & Woodwasrd, 1987), and that there is a link between
entrepreneurs’s networking behavior and the growth of a firm (Ostgaard & Birley, 1996).
(You can reference/print the Ostgaard article from online Journals – Journal of Business
Research, 1996 – Vo. 36, pages 37-50).
Utilization of networks is believed to reduce entrepreneur’s transaction costs and to aid
their competitiveness (e.g. Aldrich & Whetten, 1981; Jarillo, 1988, 1990).
Entrepreneurs & social networks (Low and MacMillan, 1988; Hills et al., 1997; de
Koning, 1999);
Outsider assistance can have substantial impact on new venture creation, survival, and
performance (Chrisman & Katrishen, 1994).
Businesses owned by teams of partners generally have wider social and business
networks (Cooper, Gimeno-Gascon, & Woo, 1994)
22. Contact Information
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Contact information for the presenter.
Also please give credit to Ohio State University Extension and Author, Myra Moss,
Specialist.
Slides 23 – 30 contain the step by step guide to the GoBig Network with examples of the
features and pages.
23. Step 1: Log onto web site for GoBig Network
Use this address to log on:
www.goBIGnetwork.com
24. Step 2: Create a member profile
1. Create a detailed profile for your membership
2. Identify your specific role:
Entrepreneur
Investor
Job Seeker
Service Provider
Advisor
Most likely the instructor will want to identify their role as advisor.
25. Step 3: Explore features of GoBig Network
a. Profile Search
Search Network for members based on roles
Connect needs of members
Investors find startups
Employees find jobs
Startups find advisors
Make contact with these resources to get stuff done
26. b. Messaging
27. c. Networking through GoBig
Members can invite their friends to form a network
Networks allow members to share “rolodexes” with each other
System tracks who knows who so introductions can be made effectively
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28. d. Posting a public request
There are 10 categories under which you can view requests:
Members can post requests in a public classified ad directory
Allows everyone to know who is looking for what
Members can be notified by e-mail when ads are posted that they are interested in
29. e. Posting a network request
There are 7 categories under which you can post a network request:
Funding Needed – companies looking for funding
Jobs – companies looking to hire
Looking for work – talent looking for work
For Sale – people with items to sell
Events – events and local happenings (network meetings, workshops/conferences,
etc.)
Advisors wanted – companies looking for advisors
Office space – space available
Requests can be sent privately to groups of members
Members can set preferences based on what types of requests they want to receive
Reporting details who got the request and who has responded
30. f. Creating private groups
Private groups can be created among members
Members can send requests and messages within just the group
Allows member-based organizations to private label network
Here is an example of a group set up by the Ohio Department of Development
For further information or questions, please contact the author:
Myra Moss, Specialist, Ohio State University Extension
moss.63@osu.edu
614.292.8436
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