The Results Are In! Best State To Be An Entrepreneur

Image representing TechStars as depicted in Cr...

Last week, the University of Nebraska-Lincoln released its State Entrepreneurship Index.  Eric Thompson, an economics professor and director of the university’s Bureau of Business Research said,

"The annual index ranks states using the number of businesses that open and close, the average earnings of its entrepreneurs, the number of patents per capita, and other data..."

What surprised me after looking at the stats is how low my home state of Colorado was ranked.  I've always thought that CO was a great place to start a business.  With an international airport, a tech community stretching from Denver to Boulder, an approachable community of investors, and other factors;  I was thinking we'd at least be in the top 20.  Apparently my assumptions were not founded on real data.  According to the report, CO has fallen from her former glory dropping 15 spots to number 33.

First on the report and holding the position for at least the last 3 years is NYC.  Any guesses on who come in last?  South Carolina.  Guess I don't have a comment one way or another as I know nothing about the state's economic and entrepreneur climate.

Despite this poor ranking there are several noteworthy organizations making great strides in developing and producing entrepreneurs for Colorado.  One of which is Boulder based TechStars.  A quick glance at their website and one can see that this organization is proud of the work being done for CO based techies.

"TechStars provides seed funding from over 75 top venture capital firms and angel investors who are vested in the success of your startup, as well as intense mentorship from hundreds of the best entrepreneurs in the world."

TechStars also has operations in Boston, New York City, and Seattle.  It should be noted that these three cities parent states hold the number 1,2, and 3 top spots according to the study.  Coincidence?  I think not.

The other organization happens to be have a global reach made up of members and charter organizations.  TIE Rockies is the CO chapter of TIE.org.

"The Indus Entrepreneurs (TiE), was founded in 1992 in Silicon Valley by a group of successful entrepreneurs, corporate executives, and senior professionals with roots in the Indus region. There are currently 13,000 members, including over 2,500 charter members in 57 chapters across 14 countries. TiE’s mission is to foster entrepreneurship globally through mentoring, networking, and education."

With the state of economic affairs in our country I believe that entrepreneurs play a tremendous role in revitalizing our economy.  Entrepreneurs are innovative and the lifeblood of what makes our country great.  They are problem solvers, job creators, community minded, and are keepers of the American Dream.   For those of you folks who have the itch, are on the fence, are tired of corporate America, and want to be your own boss-  TAKE THE PLUNGE!  Our state and our country need more of you.  There are organizations to support you.  What are you waiting for?

When is NOW the right time?

 

Recommended books on entrepreneurism:

Uncertainty: Turning Fear and Doubt into Fuel for Brilliance

 

Making Ideas Happen

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Agloves

  Jennifer and Jean Spencer

 

Agloves® is a patent-pending winter touchscreen glove company based in Boulder, Colorado which currently employs seven streamlined employees.  The remarkable founders are Jean and Jennifer Spencer.  Together they developed gloves with a silver (Ag) element which is a conductor for the bio-electricity that comes from ones fingers which is needed to activate a touch screen.  The origin of Agloves derives from the element symbol for silver―Ag, (Agloves).

Through connecting with the technology industry such as the Boulder Open Coffee Club, Agloves launched within months and by the second month of business were selling Agloves internationally.  Jean Spencer attributes four elements to success; 1. Analyze the market beyond the obvious demographic, 2. Establish who is going to pay for it, 3. Consider manufacturing locations, 4. Utilize social media such as LinkedIn to find industry peers and ask for best practices.  International business comes with challenges such as customs, duties, and exporting.  One essential to customer care is considering the most efficient method to ship product to customer.  In researching for a method Agloves found that having multiple manufacturers and warehouses internationally has value.

IFA, Consumer Electronics Unlimited hosts the world’s largest trade show for consumer electronics and the results from Agloves attendance is that it opened up 11 countries to sell in.  Agloves also partners with the U.S. Air force, and the U.S. Army to provide Agloves to all solders.

An important social media element is Twitter since 6% of sales generate from that effort.  Agloves shared social media guidelines they follow; 1. Be human on the web, share things that are of interest, funny and respond to questions, 2. Learn to use Twitter, and 3. Be photo happy.

Agloves goals are to; 1. Build buzz, 2. Establish the brand, and 3. Expand to niche markets.

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