 Was what made us look more closely at the charter business,” said Phillip Rowan, the only salaried, full-time worker for the trust.
*we are getting a kitten. a very cute kitten. e's dream is coming true.
*jury is still out on the puppy - long story, but it looks like we'll be getting one.
just not certain which one. craziest thing ever. and, looks like we
will be personally having ONE litter. another long story.
*i'm closing up shop. for real this time. no worries to family/friends as
the only way to make it work is to get my "fix." so, you and your kiddos
will be my "subject" matter. sooooooo excited!
*summer is almost over. it is no longer sniff, sniff but rather sob, sob.
*i'm still going nearly 24/7.
*i may not make it til my birthday.
*we only have 7 MD/dental appts this week. that little aspect is
just helping so much. total sarcasm.
*no vacation for us this summer because i am residing here, at
the desk. ummm....that's some bitterness spewing.
*i want to inhale the boys. literally.
*hmmm....dreading school shopping a bit.
*looking forward to some time friday with my girls. it is so needed.
i'm thinking it is really not a play date for the kids, but for the moms.
hate that we'll be missing one.
but, as negative as the above all sounds.
i think that maybe all of the chaos that has been swirling
overtime around me has forced me to make some
challenging decisions and put things in proper perspective.
so, for that, i am definitely thankful.
and, excited.
did i tell you that???? :)1. Capital is King. Many entreprenurs around the world can build $3-10 million companies through Isenberg's "stress the roots" approach, but they cannot achieve "world class" status for lack of access to capital. I was lucky to build a billion dollar publicly traded company in Indonesia, but the reason, in large part was that I was better able to access capital than my competitors. I recently lectured a group of Haitian entrepreneurs through a program spons0red by Digicel Group, Dennis O'brien's telecommunications company. This very optimistic group of Haitian business owners cited access to capital as their biggest problem despite the total devastation of their country by an earthquake. Financing techniques for entrepreneurs was the subject of the lecture.
Isenberg cites the successful Israeli example of combining government funds with management of the monies through professional venture capital and private equity funds. I like this example, which has been used in Florida where some government pension monies are under the management of Hamilton Lane to invest in early stage companies. (Florida, a state with a population of almost 19 million, at last count had less than ten "real" venture capital firms.) I would encourage a portion of the monies in such approaches to be specifically earmarked for "seed" investments and for the VCs not to be disguised private equity investors.
In Indonesia one of the largest untapped pools of capital was the reserves of the local insurance companies. Within reasonable and appropriate asset allocation and risk profiles perhaps insurance reserves in some developing countries could be directed to local investments in secured loans to provide medium term growth capital.
2. Integrate Foreign Investment into the Entrepreneurship Initiative. Foreign multi-nationals provide many benefits to foreign countries, not the least of which is hands on training in professional management to local staff. Due to weaker education systems in many countries, most entrepreneurs have only limited access to the thinking and processes of modern management. This lack of experience is a major factor in limiting the emergence of world class companies.
Perhaps foreign investors must have social responsibility programs that support local entrepreneurship. Programs in education, local suppliers and services and sabbaticals for employees to work for a year in a local company all would qualify. Preferential tax rates might encourage this activity. The Digicel workshops for Haitian entrepreneurs is an example of such a program (albeit with no particular tax incentives).
3. Education is Critical. Several academic studies have shown that a part of the success of Silicon Valley and Boston as entrepreneurship centers is their proximity to great universities. Mayor Bloomberg's recent initiative to attract a world class engineering school to New York City as a means to foster greater entrepreneurship there points out the need for education in certain subjects that tend to produce more entrepreneurs. Of course, if we provide good engineering universities, access to capital and professional venture capital investors, a country would be well on its way to duplicating the critical success factors that explain Silicon Valley or Boston.
Based on conversations with many government officials around the world, the development of intellectual property is going to be the engine of economic growth in the 21st century. This concept is a basic tenet underlying the philosophy of OLPC, which in part explains the success of the program and the approximately 2 million computers distributed to children. Improved education, and in particular science, math and engineering, is a necessary part of any sustainable entrepreneurship program at the country level. Procter & Gamble's social responsibility program in Latin America focuses on education, which suggests that they share my view on the importance of education in emerging markets.
4. Focus on Entrepreneurship. Isenberg cites the example of Malaysia's program to foster entreprenurship in the idigenous population as a failure and support for his concept of "stress the roots" by encouraging resourcefulness. I agree but I think Isenberg fails to draw the more important conclusion. The indigenous population in Malaysia is not some small tribe of nomadic Indians but rather the majority of the population. Malaysia has a history of failed programs to support the indigenous majority while the Chinese minority thrives. Malaysia's entrepreneurship program failed because it did not focus on entrepreneurship but rather addressed a wider range of social and political issues. I see many governments starting good projects only to fail because they have too many social or political objectives. If governments would refrain from discrimination on the basis of culture, race or religion and not try to solve all the problems with one solution, their programs would be much more effective.
An example that supports this view of focus is the Uruguay program to implement OLPC. Uruguay is the first country in the world where every child in primary school (450,000) has a laptop computer (from OLPC) and the program has garnered worldwide acclaim for the country. The reason that this program succeeded, in large part, was that the government had one simple goal--include every child in Urugauy with no exceptions--rather than adopting discriminatory programs or complex, multiple social goals.
5. Liberalize the Legal System. The structure and philosophy of the U.S. legal system has been a major factor to explain the scale of entrepreneurship. The U.S. system is built on the concept that if something is not prohibited by law, it is permitted. Many countries adopt the contrary approach--if it is not permitted by law, it is prohibited. This later controlling view of legal systems greatly inhibits entrepreneurship. I have thirty years of stories where entrepreneurs were stopped by government bureaucrats from expanding their businesses because a law did not permit something. What countries need to do to foster entrepreneurship is to change the philosophy of their legal systems to make them permitting rather than inhibiting.
Professor Isenberg should be applauded for this important article on the importance of entrepreneurship in developing economies. Perhaps our differences of opinion will foster further debate and research on this important topic.The 3 Best Things To Include In Your...
If you’re like most people, then at some point you’ve dreamed of having your own home cinema. It’s the perfect way to enjoy a movie without having to leave the comfort of your own home. But what should you include in your home cinema? Here are three things that are essential for any great cinema experience.
The ClokoWe Portable Home Movie Projector is perfect for anyone who loves movies. This compact projector is easy to set up and use, and it delivers a sharp, clear image that is sure to impress. The integrated speaker system provides outstanding sound quality, and the wireless connectivity makes it easy to stream movies from your favourite devices.
Best of all, the ClokoWe Portable Home Movie Projector comes with a built-in carrying case, making it easy to take your movies on the go. Whether you’re planning a backyard movie night or a road trip adventure, the ClokoWe Portable Home Movie Projector is the perfect way to enjoy your favourite films. Click here for another blog on our page which is all about the best projector for your home.
The Paiyda 2.1 Channel Soundbar is a great way to improve your home cinema experience. The soundbar has two full-range speakers and a subwoofer, which together create a powerful sound that will fill any room. The soundbar also comes with remote control, making it easy to adjust the volume or change the playback settings. The Paiyda 2.1 Channel Soundbar is a great way to improve your home cinema experience.
A home cinema is a perfect way to relax and escape the outside world, but unless you’re prepared, it can quickly become an expensive exercise. You might be tempted to head to the nearest convenience store for your snacks and drinks, but this can quickly add up.
A much better option is to invest in a mini fridge for your home cinema. This way, you can stock up on your favourite snacks and drinks at a fraction of the price. Plus, having a fridge means you can enjoy your