DISRUPTING CAPE BRETON ENTREPRENEURSHIP

Christian Murphy Follow Me

Posted this 2015-11-10 9:16 AM AST (updated 2015-11-10 12:37 PM AST)

I have been pondering Entrepreneurship in Cape Breton and felt this conversation posted previously deserves some consideration on its own. These are some thoughts I have had and wanted the opinions of others. It comes down to this rather simple question.

Why is it that Entrepreneurs are not leading the discussion of Entrepreneurship in Cape Breton?

We all know how innovation can impact the status quo. We are in a dire state in Atlantic Canada and all I see and read is a constant recycling of past errors wrapped up in the latest jargon of the day. Target Markets became verticals, audiences and tribes; while innovation and disruption are now the words of the day.

We have politicians, educators and bureaucrats leading entrepreneurship, ironically none of which are entrepreneurial roles. What I see, and correct me if I am wrong, that we are being lead instead of leading.

The irony here is that entrepreneurs are leaders, trail blazers and disruptive personalities; the very people that can solve the issues we face. How do we harness this power? How do we step outside the influences that keep telling us how it should be and start telling how it should be?

I believe this is fundamentally my biggest issue with all of it. I'm not certain about others who are working long hours trying to build something, but are we not somewhat chained to the status quo, seeking validation from those who are not qualified to validate? The Asses on the Treadmill chasing that illusive carrot dangling just out of reach and going nowhere.

I think it's a very sad irony; an irony that needs disruption! If we are to create an entrepreneurial culture it is incumbent upon entrepreneurs to drive the discussion, direct the path and execute! In fact, I believe that is what entrepreneurs do. Please, share your thoughts on this, I am curious to learn how we can drive a fundamental change for Cape Breton's future?

Posted by Christian Murphy
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Joe Ward Follow Me 2015-11-10 8:44 PM AST Reply 0 0 Entrepreneurs target problems in product/service markets. Community builders target problems in geographic regions. Entrepreneurs have to find/manage scarce resources to maximize their opportunities, but they will go where they can best get access to resources. For community builders, Cape Breton represents lifelong job security from within one of the government funded agencies. I think that's a decent explanation as to why we have so many different competing agencies promoting CED and entrepreneurship, vastly outnumbering the actual new entrepreneurs (i.e. consider Spark and I3 each with less than 30 entrants). The conditions are such that the density of CED/bizdev type folks should be high in this adverse ecosystem. But the density of rationally acting business actors should be much lower. There are going to be very few businesses that succeed purely through commitment to patriotism (e.g. East Coast Lifestyle). Two exercises. I don't know the answers, but I'm curious: If you add up all those employed in the various CED/bizdev related organizations, how many people are employed and what is the value of the annual operating budget including payroll? Now contrast that with the number of active entrepreneurs and the amount funds in the active capital pool that is available to them (not the promoted, but locked up capital pool). We do have entrepreneurs here getting it done. A big part of that is that they have strong personalities that are able to extract resources from the various agencies, and then put their heads down and get to work. Chomp on the capital bait when they put it out there, and spit it out when it's just full of hook. The rest of the time, just get to work. The alternative is a third type of undesirable actor: neither successful entrepreneur, no community leader. Just an in between hopping from conference, to free lunch, to awards, to seminar - but never getting anything done within the actual business development scope.
Christian Murphy My Post Follow Me 2015-11-11 7:41 AM AST Reply 0 0 Hi Joe, perhaps I have framed this wrong. Maybe the question should be how do we take a leading role and frame the discussion? I have spoken with and listened to, read and continue to read about the startup ecosystem. As much as we need support, we are not communicating what we need and how we need it. Ironically, how we need support is oft times not a structured, predictable path. Allow me to toss out the industry jargon and use the term Pivot. This is when the entrepreneur discovers, by doing, that his predictions are not progressing as expected. This creates a problem for entrepreneurs as it impacts the current funding system. The three year/five year plan is based on predictions, the rationalization for funding. Inevitably, when things are not working the entrepreneur will change direction, unfortunately this doesn't align with the plan thus does not qualify under the funding formula. This for example becomes a road block. We need to analyze the problems and offer solutions. This is fundamentally what I am talking about......the Asses on the Treadmill simply stepping off and taking a different path.....driving the conversation at the top levels. Joe Ward Follow Me 2015-11-11 10:58 AM AST Reply 0 0 Injecting our feedback into the discussions is important - including in forums like this one and elsewhere on social media - but I'd be hesitant to formalize it to the point that taking the "leading role" results in yet another CED/startup related group emerging. ;) The best leading role is: Conditions be damned, I'm doing this thing! :) I am quite interested in hearing Dave Johnson's ideas, post I3. He is floating some ideas about what's next for those who were I3 hopefuls that won't receive funding. It's a good framing topic, though I would caution that we should never start thinking of the I3 as a funding source in general. Spark is much better in that regard as there are more prizes to be awarded, and a less extensive process to get there. So, I'd say better framing is perhaps what do you do when you have an idea but think there is no funding to do it. TBD. I'll find out what Dave's approach is soon. Pivots are largely irrelevant here. The funding levels don't support 3 or 5 year plans. That part of submissions is best utilized just to get a sense of where entrepreneurs think they are headed, or how strategic they think, but it really isn't supported by the funding levels of seed or micro-seed that is available. (WAG = Wild Ass Guesses) The term "pivot" itself is also contorted. Twitter "pivoted". In their sense, they completely abandoned their initial idea and we allowed to keep all their VC capital to do something entirely different (nice gift). So they did the world changing Facebook status update in 140 characters, and always public. ;) A better use of the term would be those that make a significant change in direction in their business; a strategic change without completely disconnecting from the original concept. For my own part, I'm just going to continue to do what I always do. Give sincere and honest feedback. If it's heard and taken into consideration by some, great. If not, doesn't matter. I have to keep moving along anyway. ;) Richard Lorway Follow Me 2015-11-11 12:29 PM AST Reply 0 0 I think what I'm hearing is your concern that those who want to control the narrative are the same bunch that have always controlled the narrative. And their decisions and their control have led us to where we are today. Are you hoping that we collectively point at them and say: "Look. The emperor is not wearing any clothes!" Joe Ward Follow Me 2015-11-11 1:13 PM AST Reply 0 0 I'd say put on your trusty Levi's, lace up your *bootstraps" and ignore the fashion sensibilities, or lack thereof, of the emperors and other dandies. Kidding. :P Christian Murphy My Post Follow Me 2015-11-11 1:27 PM AST Reply 0 0 Not interested in casting stones, simply an honest and fair review of where we are and driving the conversation towards an executable outcome. Key word, executable! In all honesty, where are we today? I think we as a community are all scrambling to pull up our pants! Or in some instances have a keen desire to pull them down as we drive by and provide some a moon filled gaze. Butt in the end (pun intended), we are still where we are. Clothes or no clothes, winter is coming, and that is a certainty. Joe Ward Follow Me 2015-11-11 1:38 PM AST Reply 1 0 Your analogies are fant-ass-tic. ;)
Dave Johnson Follow Me 2015-11-11 10:47 AM AST Reply 3 0 Why is it that Entrepreneurs are not leading the discussion of Entrepreneurship in Cape Breton? ......but they are :-) Anyone with an interest in coding, startups, entrepreneurship, and the local tech scene is invited to an open meeting to discuss the idea of creating a formal coder-centric startup collaborative development group in Cape Breton. When: Thursday, November 12 @ 7 pm Where: Cooperative Study Club New Dawn Centre for Social Innovation 37 Nepean Street, Sydney (former Holy Angels) https://capebreton.lokol.me/coder-startup-collaborative-group---open-meeting Everyone is welcome! Joe Ward Follow Me 2015-11-11 11:01 AM AST Reply 1 0 I'm planning to drop in to listen to your ideas. Christian Murphy My Post Follow Me 2015-11-11 1:15 PM AST Reply 0 0 Sounds interesting Dave, I am not a coder, but I am a tech entrepreneur with interesting connections globally and I could so use both moral and financial support! So, beyond the creation of another group and that is not sarcasm, can you highlight what you see as being an executable path? There are a lot of groups out there and collaboration is great, how do you see this as being different from the others......what will make this work? Richard and Mathew were involved in the New Media Festival which garnered some international attention and attendees from all over the world (Skunk Baxter was cool, The Doobie Brothers for you Millenials). Perhaps they would provide some insight into what was right, what could have been better and where things went wrong. Groups are great, but they need a defined purpose. I would be interested, however I am a bit driving averse! Sydney always seems so far away! I would welcome your thoughts.
Mike Johnson Follow Me 2016-12-27 9:16 AM AST Reply 1 0 I doubt if anyone could even identify all the agencies that are supposed to be creating jobs and encouraging entrepreneurship in CB. Many of them are staffed by people who have never even had a real job, or had to make payroll, or started anything and have been there so long, they display the same characteristics as the average govt bureaucrat. Plus, almost none of these organizations have quantitative performance measurements. If we want to encourage economic development create one agency, staffed by real entrepreneurs and business people, cut commercial taxes in half for new business, and get govt out of the way! Joe Ward Follow Me 2016-12-27 11:32 AM AST Reply 0 0 These agencies should also be identifying themselves, in terms of proactive outreach. An easy example is Spark Cape Breton. When the winners are announced, how many of these agencies would see it as a part of their role to actually get in contact with these entrepreneurs that have been vetted for seed funding by Innovacorp?
Eileen MacNeil Follow Me 2016-12-27 5:40 PM AST Reply 0 0 You are soo right Mr. Murphy. Entrepreneurs have lived experience and the backbone to take risks. I'd like to see us lead the development of new and innovative business for Cape Breton. If you find an avenue for us to do this I'm in