Seminars focus on ways to support entrepreneurship

Len Jordan learned a few secrets on the way to being an entrepreneur-turned-venture capitalist.

First, to be a successful entrepreneur, you need a killer idea. Next, you need to realize that you won’t be the first to have that idea.

Julie Howard
The Idaho Statesman

http://www.idahostatesman.com/apps/pbcs.dll/article?AID=/20040522/NEWS02/405220303/1029

Jordan, general partner with Seattle’s Frazier Technologies venture capital firm http://www.fraziertechnology.com/ , shared those lessons with economic development experts from around Idaho on Friday. The session was part of a two-day series of seminars geared to help public officials learn how to support entrepreneurs in their communities.

Jordan offered insight into the complications entrepreneurs face in starting businesses, as well as information on what elements in a community bode well for start-ups.

"Geographically, the one thing that would give us pause is: Are there entrepreneurs there and can we recruit others there," said Jordan, a native Boisean and a former senior vice president for RealNetworks. "If we think it’s going to be really hard to recruit to Pocatello or Sandpoint, for positions like CEO, CTO and vice president of marketing, we’d see those locations as risky."

But Jordan said venture capital isn’t imperative to promoting an entrepreneurial community and that developing that great idea better than the next guy, building a good business plan and perseverance were elements that come first.

Venture capital was just one element discussed with the audience of economic development experts.

Leslie Toombs, an economic development planner for Sage Community Resources, an organization that helps small southwest Idaho communities, said a session on how to get the business community to work collaboratively was an issue that resonated for her work.

"Learning how to better foster and facilitate groups to be more effective, that was very helpful," said Toombs.

Other seminars covered topics such as how to assess the entrepreneurial environment of one’s community and locate resources.

Norris Krueger, a professor of entrepreneurship at Boise State University, organized the event to help public officials learn what elements are needed to help business start-ups.

"There’s been a traditional focus on business recruitment and retention, and not on starting new businesses," said Krueger. "What people have learned here is that this is completely doable and that entrepreneurs are everywhere."