When my friend Bob Stapleton asked me if I would speak to a group of budding entrepreneurs he was coaching through LaunchCary, I jumped at the opportunity.
Bob is one of those rare human beings who seems to be a nexus of community, compassion, and connection. I was honored he invited me to speak.
Bob and I met many years ago when I had my first experience being out of a job.
The company who bought our bakery business, Rachel’s Brownies, employed me for thirteen years. At GoodMark Foods, I got to manage a team of marketing professionals, multiple agencies and got to hang out with Macho Man Randy Savage who did our Slim Jim commercials. Oh, yeah.
Around 2002, Goodmark was acquired by ConAgra Foods who I continued to work for until they left North Carolina for the frigid cold Minneapolis and I was out of a job and searching for what to do next. I had worked since I was 14 so I was unsure what to do next.
At the time, Bob managed Lee Hecht Harrison, an outplacement service and he was my counselor. The year was roughly 2005. To this day, I vividly remember his kind and steady guidance. He gave me tools to help find my next adventure and his calm and supportive style gave me confidence and assurance that everything would work out for the best. Not to spoil the ending, it did.
In Bob’s past life, he has been the head up HR for Hannaford and Food Lion. He was recently Chairman of the Board of Directors for a non-profit called Dorcas Ministries, a sponsor of this event.
We have been friends during the last fifteen years, and I consider it a privilege to work with him. Today he runs a coaching practice called Live Oak Leadership.
So, when Bob asked, I leaped at the chance to help and to speak with the entrepreneurs he was coaching.
LaunchCary
LaunchCary’s mission is to develop entrepreneurs and small businesses in under-resourced communities in Cary, Morrisville, and surrounding areas by providing access to business development services, networking opportunities, and potential modest grants. LaunchCARY is part of the LaunchMyCity family of programs, modeled after LaunchDETROIT and LaunchRALEIGH. They strive to develop successful local entrepreneurs by expanding access to comprehensive business training, and financial and business resources.
Supported by Rotary, Dorcas Ministries and others, Bob was teaching a class along with two colleagues, Peter and another Bob, to people who wanted to start a business. They offer business training, modest grants, mentors, and networking. The most important thing they give to the future business owners is a supportive environment that wants them to succeed.
Having started three businesses, I thought I would use my 20 minutes to share three lessons.
I discussed the importance of having a company (product or service) that solves a problem, the critical importance of a narrow focus and some thoughts on how to differentiate your offering.
Then, each entrepreneur did a 3-5-minute pitch to the crowd to explain their business and then Bob, his colleagues and I offered some advice and suggestions. The single most consistent piece of advice that we gave was to narrow their target and product offering. Don’t try and do everything for everyone. Be specific. I used the example of Lefty’s, a catalog for 15% of the U.S. population who are left-handed. They sell kitchen and gardening tools for people who are left-handed.
Inspiration from The Next Generation of Entrepreneurs
I ended up with such a gift being invited to participate in this group. Their commitment and passion were invigorating. The desire to break free from the bonds of a W2 (traditional employment) was apparent. Each wanted to be in charge of their future and to take a chance at building a business. I was honored to offer them my observations and a little sage advice based on my entrepreneurial experiences.
Building a business is hard work. You are always working, and the challenges are enormous. So many startups fail because they don’t solve a problem, have a narrow focus or are too similar to other businesses. This group at Launch Cary has a jumpstart and a community of helpers surrounding them and I’m willing to bet will beat the odds.
Hats off to community service groups and people like Bob Stapleton, Bob Crouch and Pete Durand who give up their time and share their wisdom to help give an advantage to people in under-resourced communities who need help.
Want to learn about this program and to see if there is one in your area, click on this link.
You can set up a time to chat with me about your marketing challenges using my calendar. Email me jeffslater@themarketingsage.com Call me. 919 720 0995. The conversation is free, and we can explore if working together makes sense. Try my new chat feature on my site if you have a quick question.
Screenshot courtesy of LaunchCary
