Develop a Mindset Driven By Curiosity to Explore the World in Different Ways

Babson Professor Heidi Neck’s new 2022 course is Ideate, based in part on her 2020 book, The IDEATE Method: Identifying High-Potential Entrepreneurial Ideas. She describes the class as a mixture of creativity, idea generation, and the entrepreneurial mindset. The output of the course is 100 high-potential entrepreneurial ideas per student.

It’s not about a deep vetting of those ideas,” she added. It’s also not about feasibility analysis, minimum viable product, and design thinking. That’s for Babson’s other courses to explore. “This class is about developing a mindset driven by curiosity to explore the world in different ways. And, from that, using creativity to take what they learned in that exploration to create new ideas, and then building courage to share those ideas and take action under conditions of uncertainty.”

Neck has built a successful and influential career on identifying ideas, taking action, and teaching entrepreneurially.  She has done such a good job for 21 years at Babson that she has been recognized as one of the very best entrepreneurship educators.

Learn more about Neck, her class and what's so special about it.

Women Entrepreneurs Pursue Success Despite Unique Challenges

Despite unique challenges – global pandemic, gender issues, and lack of capital, for example –  many women are passionate about realizing their dream of starting a business, and results of a new AARP survey show the COVID-19 pandemic did not stop them.

The results revealed that “want” rather than “need” most often motivated women’s decisions to become entrepreneurs. 

AARP research reflects a need for additional support and training for women entrepreneurs to grow their business. Respondents said they were looking for resources on marketing (24%), recruiting and hiring staff (11%), and financing (10%), and these areas were where women were most likely to have sought out training.

How We Can Turn the Tide To Create Gender Parity in Entrepreneurship

Countless studies have shown the many benefits that women entrepreneurs bring to the table. 

In the UK alone, for example, up to £250 billion of new value could be added to the economy if women launched and scaled new businesses at the same rate as British men, generating jobs and unlocking new opportunities for many.

Women should be at the forefront of the entrepreneurial scene. The flexibility that comes with self-employment – the autonomy to choose how and which work and family roles to prioritize– makes being your own boss an attractive proposition for many women.

Despite entrepreneurial opportunity being present all over the world, not everyone has the same access to resources or the right support system to take an idea forward. The reality is, women feel this impact more than men.

How do you turn the tide to create gender parity in entrepreneurship?  To turn the tide for female entrepreneurs, women need to have access to the right resources (for instance, capital) and receive the right support right from the outset. And this can only be achieved through public and private sector collaboration.

Read the entire article here.

It's Time For Meaningful Change For Women Entrepreneurs

Women should be empowered to nurture their entrepreneurial aspirations within the traditional corporate structure.  How do you do this?  

Consider women's entrepreneurial interests and provide purposeful support – even if that's outside your organization. This could take the form of providing grants or time off for side hustles, more flexible work schedules to foster autonomy or a shift to deliverable-oriented performance structures.

Supporting women, particularly women of color, at all levels of your organization helps to ensure that you're not wasting the talent you've invested in.

Read on to learn how to inspire and support women entrepreneurs.

Women and Entrepreneurs of Color Are Flocking to Entrepreneurship

What's the biggest rival for businesses?  Self-employed individuals, better known as entrepreneurs.  They are creating jobs and economic opportunity.

According to recent research by Gusto in its New Business Owner Survey, 36% of entrepreneurs said they started their business after voluntarily quitting their job. 

One of the key trends from the survey is that women and entrepreneurs of color are flocking to entrepreneurship.  

Founders of new businesses were much likely to be Black, Hispanic, and female in 2020 and 2021 than in 2019. In 2019, 28% of new business owners were women, versus 49% in 2021. And in 2019, Black or African American entrepreneurs made up less than 3% of entrepreneurs; by 2021 that share had tripled to 9%.

New business creation is making a comeback.  Why not control your destiny?