A New Breed of Entrepreneur

Bill Warner Thursday, June 04, 2009

We are hearing more and more about many people starting businesses because they are out of work and cannot find a job. This is really happening. It’s a different form of passion driven out of the necessity to have an income. It may be as strong as the passion any entrepeneur has for bringing a technology to market, solving an important industry problem, or changing the world in some material way. Tim Barry talks about this briefly in Entrepreneur.com.

The rules are the same

This new breed of entrepreneur is really good news for the economy, but the rules of the road are the same as for any entrepreneur. They need a well thought out business model that:

  • Cites an attractive market opportunity
  • Focuses on real buyers
  • Is competitive
  • Spells out a clear marketing and sales path to success
  • Is managed effectively
  • Has the necessary financing to get to a positive cash flow position

Give them support

These new entrepreneurs need our help. Give them support and advice as they try to crack into the business world. It is likely they are very concerned about how they are going to succeed at something they have never done and their support structure is pretty lean. Chances are you will get something in return down the road.

Filed Under: Business Operations, Managing Business Financials, Starting a Business



Bill Warner is the Managing Partner of Paladin and Associates, a business consulting firm in the Research Triangle Park area of central North Carolina, and is the Chairman of the Triangle Accredited Capital Forum, an angel investor network with over one hundred members throughout the southeast.

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