America's Secret Weapon - WOMEN Entrepreneurs

America is sitting on a secret weapon that will take genrations for competing nations like China and India to match, women entrepreneurs. Under-utilized as they are, American women are poised to capture a large percentage of a growing US economy with proper investment in education. 

Consider the competition. In both China and India girls simply aren't valued as much as boys. It's a hard cold fact. In China, according to numerous studies and cited here from the Christian Science Monitor, for ever 118 boys born, only 100 girls are recorded. 1 The situation is just as bad in India with 836 girs being born for every 1000 boys. 2 Sadly, and evidence of skewed priorities, low cost ultrasound equipment can be found in villages of both nations where clean water is still not available. 

Although similar practices have been recorded in some immigrant populations in the US, the situation here is significantly better for females. 

The woman entrepreneur is a largely untapped but growing asset in the world. For China and India, the base for this asset is dwindling. The US must recognize and capitalize on this situation and make entrepreneurial education a priority at all levels of education and facilitate inclusion of this group. Imagine doubling our entrepreneurial talent base while our competitors squander theirs. 

Full disclosure: the author with four daughters has a distinct prejudice. 

1. http://www.csmonitor.com/Commentary/the-monitors-view/2011/0527/Rise-of-missing-girls-in-India-and-China

2. http://phys.org/news/2011-05-millions-girls-lost-abortion-india.html

Sequencing Entrepreneurial Efforts

If there's a process to entrepreneurialism, there should be a sequence. I'm attempting to depict this as a chart and have posted a draft below.

It hasn't been easy getting to this point. There are so many things to consider. And the usually argument I get in attempting this si that no one size fits all. Another argument against this is that the process is an interdependent and iterative one.

I agree, that there isn't a "one size fits all" process. But every entrepreneur lives and operates on a timeline. Our journals and datebooks are evidence of this. When planning a new venture, you have to decide where to start and what will come next.

My goal in sequencing the process is to graphically depict all the variables that must be considered in starting a new venture straight through to commercializing and beyond and show the relationship of each component. It's part of a larger work, a curriculum for entrepreneurialism.

The image here is my first attempt and I'd love to hear comments and suggestions for improving. I can send the MS Project or iTask file to anyone interested. I'd also love to see what others are doing.

Note:
The Chart is for new ventures from concept to commercialization 
The Chart does not represent duration of events, merely sequence
Many events listed may be ongoing and iterative
Click on Chart to enlarge
Detailed pdfs will be attached to each item in the chart

Thanks!

Failed Pitches - Don't Be Discouraged

You’ve invented the perfect product in your mind. But alas, it was shot down by the experts, the lawyers, the boss, your peers. Reasoning might lead you to think that it was a bad idea. The weight of so many knowledgable folks against it is evidence of that... right? Maybe. But maybe not. It’s at this point you have to do two things. First, don’t panic or despair. Next, ask yourself why did it fail? It’s the “Why” that needs to be analyzed in detail.

Analyzing the “Why” requires we must first assume that all the other guys, the nay-sayers, might be wrong. They might not be creative or intelligent enough to see the potential of what you’ve envisioned. Creativity is a rare quality. They may not possess it. There’s also human nature. Some of the downers might be jealous or more likely afraid. Afraid that you’re out-shining them, afraid your product is out of their reach. Or much more likely, creative thinking requires folks move outside their safe tried and true well tested safety zone.

Once you’ve analyzed these as potential reasons for failure, you’re free to analyze the problem in more detail. The path is a well trodden one for analysis. Is the product possible to create? Is there a market? Can the product be manufactured cheaply enough and sell at an acceptable margin? Can it be marketed to the market segment? There are tools that can be used to answer these questions. I’ve added to some to my Pinterest page here: http://pinterest.com/georgeconstance/bus-develop-strategy-tools/. Porter’s Five Forces, my favorite starting place is a great tool.  

The result of this self and product analysis will lead to more questions that experts can help with. In the ned, you should have a good handle on what the product failed, because it’s not marketable or because your fellow simians can’t take that step.  If the analysis is favorable for product development, perhaps this data can sway the less creative or less visionary. If not, move on to a group that will appreciate it or you.

Final note: The analysis is a complicated one that will nearly always require help. Seek out specialists as we do to put the pieces together. Our big picture structuring is followed by detailed work through strategic partners and hired professionals. Part of what we offer is knowing what information is needed and where to find it.