Don’t Bet Your Business on an N of 1

When you’re doing statistical analysis, N is your sample size. If you want results that are statistically significant, meaning that those results show an actual pattern as opposed to having likely just occurred by chance, you need a large enough sample size. Yes, I know this is a super dumbed-down simplification but stick with me…One of the things I see a lot in entrepreneurship circles is that business owners are willing to bet their entire companies on an N of 1, which is never statistically significant.  Continue Reading

How (and Why) ESOs Distract You With BS That Doesn’t Matter

I’ve worked in the entrepreneurship support space for many years so I’ve been to my fair share of workshops, conferences, and roundtables with economic development professionals and one of the most frustrating aspects of these get-togethers for me has always been the desire of some to spend an inordinate amount of time discussing useless crap that doesn’t matter at all.  Continue Reading

How to Fudge the Numbers, ESO Edition

As we continue our conversation about honesty in the entrepreneurship support arena, we cannot possibly skip the conversation about some of the games that non-profit entrepreneurship support organizations (ESOs) play to make it look like they’re having a huge impact when they may or may not actually be doing so.  Continue Reading

A New Perspective on Networking That Will Be Especially Exciting for Introverts

Today we’re going to talk about networking but, I promise you, this discussion is going to look different than most of the networking discussions you’ve had before and it will be especially helpful for those of you out there who DESPISE networking…especially you introverts. Continue Reading

Why Startup Loans to Address the Access to Capital Gap Are a Terrible Idea

I’ve written about the access to capital gap for minority and female entrepreneurs before here and here, so you likely already know where I am going when I say that startup loans to address the access to capital gap are a terrible idea, but I think it’s so important that it warrants its own post.  Continue Reading

Is “Meeting People Where They Are” Just Thinly Veiled Racism/Sexism/Classism?

One of the frequently used phrases that irks me most in my work with ESOs and other economic development organizations and professionals who also support minority and female entrepreneurs is, “you have to meet people where they are.” It bothers me so much because I see it as a thinly veiled expression of racism, sexism, and/or classism.  Continue Reading

The Layers of the Access to Capital Problem in Entrepreneurship Support

Most academics and economic development professionals agree that the three key barriers to entrepreneurial success for minorities and women are 1) a lack of management knowledge/expertise, 2) a lack of access to capital, and 3) a lack of access to networks. Let’s take the lack of access to capital problem and break down its layers a bit so that we can identify the proper solutions. Continue Reading