Developing a more Entrepreneurial Montana

Dozens of states are now in the process of designing comprehensive entrepreneurial development strategies.

"It’s almost like yeast; it’s helped companies leverage over $200 million in public and private funds, which has enabled them to grow much faster than the average Maine company,"

Gone are the days when economic development meant hoisting the Jolly Roger and raiding neighboring states to bring back the plunder of a major factory. Today, successful states choose husbandry over piracy. They prefer to grow their own companies from intellectual seeds planted in a fertile business climate.

"The number-one killer of start-ups is when entrepreneurs confuse ‘being lucky’ with ‘being smart.’ You must possess the humility to distinguish one from the other."

Much of the thinking about entrepreneurship—which is embodied in support efforts—is very male-dominated.

WEN will establish 25 intake centers and 26 agricultural business counselors to work with people statewide who have ideas for ventures. Promising clients will be referred to one of four regional centers on University of Wisconsin and technical-college campuses.

"It gives kids relevance, especially at-risk kids, because young people often feel discounted," said Brandy Bertram, the YouthWorks’ director. "It lets the community know that these kids are positive for the community today; not in five years, not when they graduate, not when they reach a benchmark, but right now."

‘Too many people focus on whether there’s an established market, or whether there are funding sources for what they want to do," Warner says. Often, he says, building a prototype — a concrete manifestation of the vision — is a better first step than drafting a formal business plan.

”Do whatever will get you the most excited," he says, ”and your energy will be the engine for the whole thing."

The process of starting and building your own business has been compared to herding cats. For this reason, entrepreneurs of all ages need ongoing expert advice to create and grow their companies.

Raising happy, healthy — and maybe entrepreneurial — children.