To give, and not to count the cost
to fight, and not to heed the wounds,
to toil, and not to seek for rest,
to labor, and not to ask for any reward,
save that of knowing that we do thy will
Family businesses are a key to the resilience of the American economy. Family Businesses cover the entire scale of American companies from Mom and Pop, one woman entrepreneur businesses to Cargill, and Koch Industries. Forbes listed Koch Industries as the second largest privately held company in the United States (after Cargill), with an annual revenue of $115 billion. If Koch Industries were a public company in 2013, it would have ranked 17 in the Fortune 500. In addition, family businesses account for 63 percent of U.S. gross domestic product, generate 60 percent of the country’s employment, and account for 78 percent of all new job creation.According to their website, “The Department of Commerce supports entrepreneurship through its “Open for Business Agenda,” a set of strategic priorities focused on data, innovation, and trade and investment. As the primary voice of business in the Administration, the Department produces policies and initiatives that help in the establishment and success of new start-ups as well as the growth and competitiveness of existing businesses. In April Secretary Pritzker chaired the first ever meeting of the Presidential Ambassadors for Global Entrepreneurship (PAGE) initiative, a committee of successful American business leaders who have committed to sharing their time, energy, ideas, and experience to help develop the next generation of entrepreneurs. The Office of Innovation and Entrepreneurship plays an important role in these outreach efforts by helping businesses and nonprofits work together to grow the economy and create jobs.”
The Flint and Genesee Regional Chamber have an “e-TEAM”. The Chamber’s e-TEAM is a regional collaboration of entrepreneurial service providers working to connect local entrepreneurs and small businesses with resources to promote growth and success. e-TEAM member organizations include: Michigan Small Business Development Center (SBDC), City of Flint, and The Career Alliance – Michigan Works! And Metro Community Development in addition to many other service providers. One of their standards is “no wrong door” They state that their offerings include 25 plus organizations.
The Mott Foundation is working on a road map – a Business Grid. Would it be powerful if they could harness this group? If they could create a single mission statement, a single set of metrics?
“Ethical, educational, non redundant and developmental guidance through marketing and operational research (presentation), performed with proven marketing and operational research tools that best meet the goals, needs, and expectations of our customers.
One of many challenges for the roadmap is to differentiate the needs of clients. Clients could vary from startups to more mature businesses. In every case the Mott Regional Technology Center should be included as this is a one of the crown jewels.
Over 30% of family businesses survive the transition of leadership to the second generation. Our e-Team is a doing a good job. With a roadmap, some metrics, cooperation and the elimination of duplication, it can be great.