We’ve collected a ton of insights over the years, but perhaps none has been more surprising than the realization that the LARGEST group of entrepreneurs are those untapped folks on the sidelines.
Here’s what we mean:
Traditionally when we think of resources for entrepreneurship, we think about people who already have a business, an idea, skills, or momentum. But what we realized through our Virtual Business Incubator is that there are a TON of people who are still on the sidelines. We covered this in a recent video, but we’ll share the biggest insights here.
These are folks who:
- Don’t think of themselves as entrepreneurs.
- Don’t think resources are for them
- Are early on in the ideation phase
- Have entrepreneurial ambition but no idea yet
- Might be 2 to 5 years away from bringing their idea to market
We believe this is an ENORMOUS gap, that doubles as an ENORMOUS opportunity for economic developers who are willing to step outside the norms and meet these people where they are.
Here’s a sketch of what that group could look like based on the analysis of our own cohorts over the years. If your experience is anything like ours then:
- Over 95%+ of these folks have never interacted with formal development resources before
- 35% might be youth, from (12-30) who might slip through the cracks.
- 25% are newcomers to Canada who haven’t plugged into their communities yet.
- Over 75%+ of the folks who need your help the most might be women.
- Over 60% of those women will have children under the age of 12.
This is just a snapshot of what this huge group of people looks like. They’re in places we might not have looked, with ideas we might not have heard before, and they’re waiting to be activated by their communities!
We believe these folks are the ones who need our help the most and are the core of the vast untapped potential of our rural communities. If you’d like to learn more about the magnitude of this opportunity, we prepared a short video for you.
Do You Know Someone Who Is Still On The Sidelines?
If you’re reading this, chances are you’re an entrepreneur or someone who is passionate about their community and your business. If you want to help unleash the untapped potential of your community or you have a business idea here are two ways you can help:
1. Share this article with one friend. Do you have a partner in crime? Do you know people who have BIG ideas and are looking to unleash them? Who comes to mind? Do you have a name in your head? This person would love to hear from you. Think of the ripple effect you could start!
2. If you want to plug into our resources, we would LOVE to meet you. The easiest way for you to do that is to pick a time in our calendar and we’ll do the rest!