Posts Tagged ‘Small Business Week’

Invest in Yourself

Friday, April 29th, 2016
Small Business Week

Small Business Week

“Invest in yourself” is the message from entrepreneur and power-motivator Tony Robbins, delivered in an engaging article in USA Today. The newspaper has planned articles featuring successful entrepreneurs to appear each day through May 7th in recognition of Small Business Week. This article cited research findings supporting the theme of small business owner burnout (lack of scheduled vacation, work in excess of 50 hours a week, etc.) leading Robbins to advise us to work smarter and not harder. I particularly appreciated his insights to the effect that we over-estimate what we can accomplish in a year, but we under-estimate what we can accomplish in a decade.  He advises better self-care to see that we accomplish what we are capable of doing and recommends that we invest in ourselves for learning and growth.

I have taken this message to heart. Each year, I commit to a professional/entrepreneurial development program. In recent years, this has included the Executive Learning Program for Diverse Suppliers and the Tuck-WBENC-IBM Executive Program. This year, I am participating in the Emerging Leaders Initiative of the U.S. Small Business Administration and am evaluating courses for the second half of the year. One of my classmates in Emerging Leaders is a professional football player, formerly with the New England Patriots who has his own fitness business. He provides strong motivation for fitness and better self-care to run the entrepreneurial marathon. Tony Robbins probably didn’t intend his remarks to be interpreted in my limited context of disaster preparedness and recovery, but his approach reinforces my belief that the resilience of the small business emerges from the resilience of the business owner.

White House Briefing for Small Businesses

Saturday, May 29th, 2010
White House Briefing Agenda

White House Briefing Agenda

This weekend concludes National Small Business Week, a tradition that began with President John F. Kennedy in 1963. I had the pleasure of spending part of the week in Washington DC, participating in events organized by the National Small Business Association, which recognized me as one of five finalists for the honor of small business advocate of the year. The White House organized a policy briefing for us; I have attached the agenda in the image graphic. For me the highlight of the briefing was the presentation by Gene Sperling, Counselor to the Secretary of the Treasury. He highlighted the four components of the Administration’s small business legislation package that he expects Congress to pass by the Fourth of July. He shared two concerns about the state of small businesses that particularly resonated with me. First, the National Federation of Independent Business publishes an index of small business optimism, reflecting the expectations and views business owners have about the state of the economy. We also have a “CEO Outlook” index, the Fortune-500 equivalent, that captures the big business view of the economy. These two indices should be the same, reflecting the same economy, but in fact there is a wide divergence in views and expectations. Small business and big business are having completely unrelated experiences in our current market which conditions their hopes for the future. The second, and related point, concerns the contraction in bank credit. Large corporations finance only 30% of their capital needs through banks; the comparable figure for small businesses is 90%. So when banks contract their lending, small businesses are more severely impacted.  In future blog postings, I will write in greater detail about the issues discussed at this policy briefing and invite your comments. I will tell you that it was 99 degrees outside when we were in Washington DC and despite the stifling heat and humidity, I am very glad that I participated. We had a number of events for several hundred small business owners across the country to come together and work on policy issues of common concern. As difficult as the economy is right now, it is truly inspiring to be engaged in the small business community.