Tuesday, February 21^st brought Nebraska Entrepreneurship Week to Beatrice, where those present were interested in their own small-community business concepts.  SCC Entrepreneurship Center Director Tim Mittan conducted the “Could I Start My Own Business” workshop.

“One of the biggest indicators is the stock market,” Mittan began.  “Climate is really good for starting a business.”  He went on, noting that when the economy is low, the price to start a business is low, and a business can grow with the economy.

Mittan continued to note some telltale signs that the recession is fading.  “Starbucks says that the Vente (large) is the best seller,” he spoke with a slight grin.  He noted the difficulty of trying to understand how the economy is going – particularly with the noise of election year.  “Don’t listen – watch.”

Mittan noted that many baby boomer entrepreneurs are looking to sell, and that young businessmen and women aren’t stepping up.  “We don’t teach that anymore,” he asserted.  “We need to give them (students) the tools to succeed early.”

He suggested that the reason for this is because parents wish to have a better future for their children, and often “safer” is interpreted from “better.”  “I’m sorry, but there is nothing better than being an entrepreneur.”

The discussion turned to the “Carson-Leno” business buying concept.  That is, a business being sold already has a strong customer base, particularly in small towns such as Beatrice.

The Carson-Leno concept is a metaphor from when Jay Leno took over the Tonight Show from Johnny Carson – with slow, careful changes to the format.  Similarly, when buying an existing business, the new owner should keep the same feel of the business as the customer is used to – then make his or her small adjustments slowly.

“Nebraska is a state of Entrepreneurs,” Mittan added.  “More than 80% of all businesses are small businesses in Nebraska.”

He stated that small businesses have less room for expendable employees.  “Small businesses…are leaner, more flexible.  A layoff might be one or two people.”  He praised small businesses, “(In the recession,) Lincoln didn’t have a dip in unemployment – due to small businesses.”