“Innovation and entrepreneurship are the necessary ingredients for any economy or market to flourish”

From the Efosa Ojomo of Harvard Business Review, six of the signs you’re living in an entrepreneurial society:

  1. Innovation precedes regulation, not the other way around.
  2. Entrepreneurs and innovators are richly rewarded for their breakthroughs.
  3. The government depends on the ingenuity of the innovators.
  4. Innovations are pulled into – not pushed onto — society.
  5. Work is becoming more modularized.
  6. The society is either prosperous or is on a clear path toward prosperity. 

Source: 6 Signs You’re Living in an Entrepreneurial Society

Entrepreneurism: “what Americans are doing for themselves in communities across the country”

This…this gives me hope…

At a time when policy consensus at the federal level seems impossible, a grassroots movement is sweeping the nation and kindling a radical transformation in how Americans grow their local economies. Cities, communities and regions are building “ecosystems” of entrepreneurial innovation to generate new businesses and jobs that America needs. It’s no longer enough to recruit businesses from other regions in a perpetual zero-sum game. Nor is it enough to construct buildings, infrastructure, airport terminals or other projects that require heavy subsidies. Instead, we’re witnessing the birth of a new model of economic development — one based on collaboration among entrepreneurs and innovators that elevates culture as a driver of economic growth.

These ecosystems are not only located in the coastal states most readily associated with innovative economies, they are emanating from the center of America. Midwestern cities like St. Louis are offering both hope and optimism for renewed economic growth. With the presidential race providing seemingly no new solutions, Americans should support and expand this movement, for it provides the best hope of revitalizing economies throughout the nation

Source: Communities Across America Are Harnessing Entrepreneurism to Drive Growth

“To your highest purpose and best self friends”

It take[s] a lot of courage to speak your truth and use it to rise above tragedy and injustice. It takes a lot of courage to use that truth to forge your own path to independence based on your true character. Your willingness or failure to do so will, however, not stop life from throwing the ‘opportunities’ for you to you; over and over again. So why not use them for a higher purpose?

Why not make your legacy, in part, that you broke the mold in your family. You were the one able to create opportunities for others; you were the one able to create jobs; you were the one able to care for your family and the children of your children; you were the one able to to be the shining example in your community that others wants to emulate. We all want to be a part of history and through seeking and finding your own liberty we all can.

via What will be in your declaration of independence? | Entrepreneur the Arts

“There used to be too much land to settle. Now there’s not enough land to share”

Pretty fascinating article on American entrepreneurship, migration, and dynamism by Derek Thompson linked below:

American restlessness is written into the national DNA. In the 19th century, families moved toward opportunity, whether it came in the form of open, fertile fields or smoky urban factories. Americans didn’t just see their westward migration as a trivial preference for sun and space. They saw it as the important work of a nation, a Manifest Destiny.

But if Horace Greeley were alive today, his advice might be something more like, “Move back home, young man.” Americans today are strangely averse to change. They are less likely to switch jobs, or move between states, or create new companies than they were 30 years ago. In economist-speak, “the U.S. labor market has experienced marked declines in fluidity along a variety of dimensions.” In English: America has lost its mojo. Manifest Destiny has yielded to manifest dormancy.

Why are Americans stuck in place—and why are these stuck Americans less likely than their forebears to switch jobs and start companies?

Source: How America Lost Its Nerve – The Atlantic

What Can We Learn from Nashville about Building and Supporting a Music Community?

Looking forward to reading a new book, Beyond the Beat: Musicians Building Community in Nashville, which:

identifies the rise of three new types of musicians, or “artist activists,” who take a more active role in shaping their careers and communities: “enterprising artists” who are entrepreneurial and career-focused, “artistic social entrepreneurs” who combine music with a social mission to build community or maintain social spaces, and “artist advocates” who are remaking unionism for music and the arts (a few of whom are chronicled in the book). These three types of artist activists not only work to develop their own careers, but to support and help one another. In turn, they have created an inclusive peer community, strengthened the broader network of musicians, and bolstered the very fiber of Nashville and its music scene.

Also interested in reading about what the city of Nashville has done to support music:

Local public policy has sustained musicians and the industry in several ways. On the demand side, economic development has focused on music-themed tourism, museums, and festivals that attract consumers of music and related retail and hospitality services. On the supply side, the city has encouraged the development of affordable housing for musicians and other artists, as well as arts districts that provide studio, performance, and display spaces for performing and visual artists, and their fans.

Source: What Drives Nashville’s Music Industry – CityLab

“America has a shortage of job creators”

Here’s an interesting perspective on education and entrepreneurship, but Michael Ellsberg’s point about start-ups vs. small businesses is worth noting:

America has a shortage of job creators. And the people who create jobs aren’t traditional professionals, but start-up entrepreneurs.

In a recent speech promoting a jobs bill, President Obama told Congress, “Everyone here knows that small businesses are where most new jobs begin.”

Close, but not quite. In a detailed analysis, the National Bureau of Economic Research found that nearly all net job creation in America comes from start-up businesses, not small businesses per se. (Since most start-ups start small, we tend to conflate two variables — the size of a business and its age — and incorrectly assume the former was the relevant one, when in fact the latter is.)

If start-up activity is the true engine of job creation in America, one thing is clear: our current educational system is acting as the brakes. Simply put, from kindergarten through undergraduate and grad school, you learn very few skills or attitudes that would ever help you start a business. Skills like sales, networking, creativity and comfort with failure.

Source: Will Dropouts Save America? – The New York Times