Transcript Creating Coaching Networks to Stimulate Entrepreneurship in Resource Dependent Communities Information in this presentation is consistent with mission and purpose of Iowa State University Extension.

Creating Coaching Networks to
Stimulate Entrepreneurship in
Resource Dependent
Communities
Information in this presentation is consistent with mission
and purpose of Iowa State University Extension in providing
relevant information on innovative concepts and best
practices for Community Entrepreneurship development and
it is being distributed by the Iowa Community Vitality
Center (CVC) for educational purposes in Iowa.
Excerpts of Presentation at the National Public Policy
Education Conference September 19-22, St. Louis Missouri
by Eric Scorsone, Ron Hustedde,and Larry Jones of the
Cooperative Extension Service, University of Kentucky.
Who are Entrepreneurial Coaches?
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Coaches:
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Leaders in their communities who will support entrepreneurs
and build a culture that is entrepreneurship friendly
Coaches can be:
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Chamber of Commerce Directors
Bankers, Lawyers, Accountants
High School teachers
Extension agents
Retirees
Others…….
Anyone interested in the process of counseling and
assisting local entrepreneurs
Coaching is:
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supportive,
questioning,
encouraging,
about helping people to solve problems;
clarifying individual and community visions/directions;
holistic; embraces the whole person (community)
helps people to set goals and deadlines,
action-oriented,
change,
proactive relationship
Coaches do:
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Nurture and encourage entrepreneurs in a variety
of activities including:
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Idea generation
Business Planning
Financing
Team Building
Marketing
Assist local communities in stimulating
entrepreneurial climate and culture
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School curriculum activities
Local entrepreneurial fairs or centers
Marketing the benefits of entrepreneurship to the
community
Coaches do:
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Networking and brokering
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Resource Facilitator
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Connect entrepreneurs to people
Connect to SBDC and other technical and financial
assistance
Industry Content and Trends
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Knowledgeable of industry trends and opportunities
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Psychology and Self-Awareness
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Community Support and Climate
Coaching is not:
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teaching,
telling people what to do,
pushing personal agendas on others
Coaches do not:
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Conflict with existing business service providers
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Provide Business Financing
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At the appropriate time, coaches feed entrepreneurs into
SBDC system or other provider systems
Coaches direct entrepreneurs to appropriate bank or
financial institutions or other private investors
Manage Businesses
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Coaches help entrepreneurs find resource providers or
build management teams
The Kentucky Entrepreneurial
Coaching Leadership Program
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Two classes of entrepreneurial coaches trained
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Coaches must apply to program (June 2004, 2005)
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30 coaches in each class
1st class: Sept 2004-August 2005
2nd class: Sept 2005 – August 2006
program selection committee is KY Agricultural
Development Board, Entrepreneurship Committee
Classes meet monthly (2 days a month)
Class participates in international trip
Some Key Trends in Leadership
programs:
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Leadership programs are growing in popularity
because of their need and impact in shaping
community life;
2) Personal, business and executive coaching is a
new and growing profession because it helps
people to solve problems, meet challenges,
reach goals and focus and achieve results more
quickly.
Anticipated products:
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an entrepreneurial coaching support network;
imagination about entrepreneurship potentials;
coaching skills (i.e., asking challenging questions; helping
others to set goals)
self-identity as "entrepreneurial coaches" -- not just a
teacher, banker or farmer.
understanding about nurturing entrepreneurs (ie. best
practices; sensitivity to youth, women)
technical skills
outreach capacity --- minimum outreach of 50 per year
reflection on what it means to be an entrepreneurial coach -lessons learned
and this will lead to:
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more entrepreneurial support activity in
counties and region;
more outreach-focused entrepreneurs;
self-sustaining entrepreneurial support group
new sense of regional identity and cooperation
(not just one county versus another).
Coaching Curriculum I
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Seminar 1: Creativity and Idea Generation (Jay
Kane)
Seminar 2: Visiting an Entrepreneurial Community
(Athens, Ohio)
Seminar 3: Entrepreneurial Coaching
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Seminar leaders from Scotland’s Hunter Center for
Entrep. University of Strathclyde
Seminar 4: Meeting other entrepreneurship support
providers
Seminar 5: Where are the Markets: New Trends in
the Regional, National and Global Markets
Coaching Curriculum II
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Seminar 6: Building entrepreneurial capacity
Seminar 7: Envisioning a new entrepreneurial
support system (Trip to rural Scotland)
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Working with Scottish Enterprise, Highlands and
Islands Enterprise, John Bryden (University of the
Highlands) and many others
Seminar 8: Bringing it all together
Long Term Sustainability
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Coaches will be able to maintain membership and
network through a Entrepreneurial Coaches Alumni
Network and annual meetings
Coaches will participate in activities with other
entrepreneurship support providers
Goal is to secure finding for statewide and continued
training via KY Agricultural Development Board
Extension agents will also be able to participate in
training in future
What will it take to do this in my
community?
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Strong Community Buy-in
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Community and business leaders should be committed to
supporting project
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In-kind And monetary support
Program marketing assistance (nominating candidates)
An issue that is driving the need for changing in the
community or region
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Traditional industry or agricultural decline
Community dissatisfaction with status quo
Internal social or demographic changes in community
What you need?.....
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A little or lot of money
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Program is flexible and can be run on a variety of
budgets
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National or regional speakers (speaker fees) or conduct
in-house training
Field trips?
Overnight or one day seminars (lodging and food
expenses)
Transportation to and from seminar sites
What you need?....
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Seminar Participants and Selection Process
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Key part of conducting coaching program
Need a strong and widespread marketing campaign
to generate interest
Selection committee
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Should consist of neutral set of selectors to avoid
political or personal conflict of interest
Good excuse for why someone wasn’t selected
Diverse candidate background
Committed candidates
What’s available?
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Coaching curriculum is being developed by
Kentucky team and available for others to use
Center for Rural Entrepreneurship and others
are aware of coaching concept and willing to
assist
In the future , a process and outcome
evaluation will be available