“The community stagnates without the impulse of the individual; the impulse dies away without the sympathy of the community.”
― William James
In every community, untapped entrepreneurial potential lies dormant, waiting to be unleashed. Yet, the communities that stand to benefit most often lack the tools, training, and support required to unlock that potential.
We all know that entrepreneurial activity is essential for creating vibrant, equitable, and sustainable communities. Economic developers have begun to recognize the value of creating entrepreneurial ecosystems designed to support new venture creation. Yet, these efforts are often designed to focus exclusively on high-growth, venture-backed startups and do not address the needs of everyday entrepreneurs.
Fortunately, a promising new model is emerging—one that is not only challenging conventional norms— but also revitalizing communities that traditional ecosystem builders may have overlooked. Leading the charge is Thom Ruhe, President and CEO of NC IDEA Foundation in North Carolina. As an experienced entrepreneur and former VP of Entrepreneurship at the Kauffman Foundation, Ruhe recognized the potential impact of supporting everyday entrepreneurs.
He and his team began by offering our Ice House Entrepreneurial Mindset Programs statewide through partnerships with high schools and community colleges, workforce and small business development organizations, public libraries, and other nonprofit initiatives. Doing so not only increased public awareness but also provided effective training and support for everyday entrepreneurs. They also offered facilitator training to hundreds of educators, workforce development, and other non-profit professionals as a way to encourage entrepreneurial thinking in classrooms and communities. As a result, they created a statewide network of small, hyper-localized entrepreneurial support systems. Those with promising new ideas receive mentorship and micro-grants to help launch their businesses.
And, there is powerful evidence that his strategy is paying off. For example, a recent study published by the North Carolina Secretary of State’s office indicates that the constant launching of new businesses makes the state’s economy more resilient while also diversifying economic impact along gender, racial, and geographic lines. It also demonstrates the economic impact of supporting everyday entrepreneurs. According to the study, a mere 5% increase in the number of firms less than five years old that achieve $100,000 in total revenue would create 24,550 more jobs and have an economic impact of $1.5 – $2B annually. As Ruhe described it, the economic impact of supporting everyday entrepreneurs is an opportunity hiding in plain sight.
“The American Dream, the envisioning of a land where economic opportunities are available to everyone, is a powerful idea.”
Others are embracing these ideas on a smaller scale with equally powerful results. As an experienced entrepreneur Myron Pierce, also recognized the untapped potential hidden in urban communities. “The American Dream — the vision of a land where economic opportunity is available to all — is a powerful idea,” Pierce told me. “Yet in urban communities, the echoes of that dream often go unheard.”
Pierce grew up in a community plagued by poverty and crime and once believed a better, richer, and more fulfilling life was out of reach. Yet he is now leveraging his entrepreneurial experience to change that narrative in urban communities. After helping launch grassroots entrepreneurial support systems in Colorado Springs, Kansas City, and L.A., Pierce is now doing the same in North Omaha — and the impact is undeniable.
Using our courseware as a catalyst, he has empowered dozens of entrepreneurs to start and grow businesses that are transforming their communities. Pierce is now seeking nonprofit partners to help expand his vision by creating “urban opportunity zones” — ecosystems designed to support everyday entrepreneurs and unlock economic potential in underserved communities across America. His goal is to help build a future where the American Dream is not just an ideal, but a reality for all.
Similar efforts are also emerging in rural America, where organizations like Network Kansas are working with local champions like Jim Correll to transform communities that traditional economic development initiatives have overlooked. Whether urban, suburban, or rural, the evidence is abundantly clear: There is a vast reservoir of untapped entrepreneurial potential that lies dormant in people and places that have been overlooked or ignored.
We can now unlock that potential on a much broader scale.
The entrepreneurial mindset is the engine of human progress — a force that transcends social, political, and geographic boundaries. By cultivating this mindset, we can empower ordinary people to create value, solve problems, and transform their communities. By providing access to effective training, tools, and support services, we can now unlock that potential on a much broader scale.
Doing so will require economic developers, ecosystem builders, and other community stakeholders to look beyond venture-backed, high-growth startups to recognize the collective impact of supporting everyday entrepreneurs. As William James observed, realizing that potential depends not only on the entrepreneurial impulse of the individual but also on the support of the community.