News & Views for Business Success

        

October 18, 2012

Jigsaw's purpose is to support entrepreneurs, small businesses,
and a sustainable economy in the Wood River Valley.   
Visit us at www.jigsawx.org. 

Greetings!   For the first time ever in the life of Jigsaw Business Weekly's history, I forgot to produce the issue! Totally forgot about it which is why it's a day late. We are hot and heavy into Entrepreneurs Just Do It! and it is exciting.  

 
We will start to read submissions this weekend and will notify the finalists on October 29.  We have found sponsors for the $1,000 prize to the winner and are planning to showcase all entries at November 7th's public competition at the Library. We look forward to seeing you that day to cheer the competitors and find out what many of the valley's entrepreneurs are up to!  
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In fact, coming to Entrepreneurs Just Do It! might just be the only way you will currently learn about the vital economic role of valley's entrepreneurship.  Specifically, if you read my report last week about Sustain Blaine's Economic Summit and then read the Mt. Express' report, you would think two different conferences had been held. While my report focused on the keynote speaker's message that our valley needs to get it together to promote an "innovation ecosystem" that includes tourism but goes well beyond, our local newspaper mentioned nary a word on the "going beyond" part. The speaker delivering the message was Jon Roberts of TIP Strategies, previously hired by Sustain Blaine to study our County's economy, and a man who knows the valley well, including its politics which, to any observer, are stifling our growth. 
 
The Mt. Express seems to be part of those politics. What else can explain why it is so dedicated to promoting one economic niche alone? It has everything to gain from a stronger, more diversified economy. Is it still dreaming about "the good old days?"  Does it still think that Sun Valley Resort is IT? Does it imagine that quality of life is irrelevant to potential business owners who can telecommute from here while they're skiing down Greyhawk? Does it not know that well-heeled knowledge-worker families are moving here because we have a great educational system for their children, not because they're looking for a transient cocktail circuit? What do you think keeps the paper stuck in its rut - to its own distinct economic disadvantage? 
 
The one conference item that the Mt Express covered in depth was Executive Director Harry Griffith's report on the value of local events to our economy. His preliminary data, studying 25 events in the valley, suggest that 16 marquee events in 2011 resulted in $48 million spent in our valley in 2011. We are becoming more and more an events driven economy. 
 
If we are to follow that path, let's build a marketing message into every event that speaks consistently and evocatively of our amazing community and quality of life. That should be our central marketing theme, rather than "the visitor experience." Let's broaden the perspective of everyone who comes here to see the joy of living and working here. We all know, and our visitors see, that the three-legged stool of the valley's communities, access to so many remarkable outdoor venues, and our sophisticated arts and culture is what distinguishes us from every other Western resort area. It's time we capitalized on the fact. 
  
Until next week...Jima Rice
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"It is increasingly clear that America's colleges and universities have been retooling as engines of entrepreneurship and innovation."

 

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Jigsaw Events and Notices

 

1. The public competition for "Entrepreneurs Just Do It!" will occur November 7, 9 am-1 pm at the Ketchum Library.  Several finalist entrepreneurs will pitch their business to the public and a panel of judges. The winner will receive $1,000. All other entries to the competition will be showcased and the day will end with Mark Solon, venture capitalist and co-founder of Highway 12 Ventures, speaking at 6 pm at the Library on "The Entrepreneurial Life."  

Building a Start-Up Community

 

Brad Feld, managing director of the Foundry Group in Boulder, believes any community can create an innovation-oriented, small-business-building culture. The Kauffman Foundation, oriented to entrepreneurship, worked with Brad to create this short video on the four elements needed for the effort. 

Losing Our Immigrant Entrepreneurs

    

"For several years, anecdotal evidence has suggested that an unwelcoming immigration system and environment in the U.S. has created a 'reverse brain drain'. To maintain a dynamic economy, the U.S. needs to embrace immigrant entrepreneurs," claims Mark Marich from the Policy Dialogue on Entrepreneurship.

The Entrepreneurial Ecosystem

 

Innovation Daily cites Memphis as a welcoming place for entrepreneurs. Here's a description of the city's various support mechanisms for those with a start-up in mind. And don't forget Beale Street's fabulous blues and to-die-for ribs.

This "Non-Profit Corner" is sponsored by the Wood River Women's Charitable Foundation.  For additional non-profit news, visit the Idaho Nonprofit Center 

  

Managing Conflicts of Interest

  

Conflilcts of interest occur more often than people realize. Good intentions on the part of board members are usually just that - but often behind them are issues that could muddy the waters in the eyes of outsiders.  Revisit the topic with this article from GuideStar.