Entrepreneurshipin the

Community

A few data points…• 27 million small businesses in the US• 60 to 80% of all new jobs• Average and median age of company

founders: 40• 95.1% bachelor’s degrees, 47 % advanced

degrees• Less than 1 % came from extremely rich or poor

backgrounds• 59.7 % had at least one child 43.5 %had two or

more• Average number of businesses launched: 2.3• 74.8 % indicated desire to build wealth• 51.9 % were the first in their families to launch a

business• 75.4 % worked at other companies more than six

years

From “The Anatomy of an Entrepreneur” – Kauffman Foundation

Entrepreneurship is good!

Entrepreneurship is not wasted on the young…

…but the wisdom of maturity is a growth industry!

Businesses are born and businesses die.

Churn is a sign of a healthy environment.

We need to celebrate failure!

There has never been a better time.

Women

Minorities

“Seniors”

Wealth creation tends to stay at home.

The role of the community

1. Mentoring2. Networking

3. Engage big business

4. Organize the wealthy

5. Provide support

The role of the community

1. Mentoring

• experience• network• accountability• sounding board

The role of the community

2. Networking

• expertise• customers• funding• other entrepreneurs

The role of the community

3. Engage big business• first customer• sponsorships• mentoring

The role of the community

4. Organize the wealthy• leadership

• sponsorships• angel capital

funds• mentoring

The role of the community

5. Provide support