Growth Strats: Filling in the Gaps, August 3, 2014
By: Terrence J.L. Reeves (Thompson)
Thank you for visiting Growth Strats! We’re excited to launch Growth Strats to play our part in the economic development ecosystem in Detroit. Detroit is in the midst of a revival – one rooted in grit, determination and lessons learned from places and people, near and far. Rise Detroit!
We were recently reminded of the role key stakeholders play in growing economies. Entrepreneurs, the business community and government, each play vital roles. Entrepreneurs create new jobs, drive innovation and should train tomorrow’s entrepreneurs. The business community and public sector should simply assist aspiring entrepreneurs accomplish their dreams.
A government organization should make it as painless as possible to start, operate and grow a legal enterprise within their jurisdiction. Remove unnecessary bureaucracy, make licensing and permitting easy to navigate and financially feasible for enterprises of all sizes. They should serve as a guide to key resources (training, funding and advisors). Government organizations should attract and retain companies so that aspiring entrepreneurs can learn the transferrable skills needed to make the big leap.
The business community must train employees to be creative problem solvers and innovators. Innovation must be rewarded if America intends to continue to compete in a global economy. Large companies should adopt lean principles and create innovation incubators to promote entrepreneurism. Equally as important, businesses must see the value of rehiring an entrepreneur whose last venture didn’t lead to a big exit. And train some more.
But we aren’t quite there, so the Growth Strats Team stands in the gap. We are a team of creative leaders with experience in both the private and public sector, and as entrepreneurs. We’ve experienced the stings of entrepreneurism, labored in government organizations developing solutions to cure constituent pains, and worked for international companies studying how the world’s most renowned brands develop, protect and refine their products, brands and operations.
We’re trained to innovate, execute and scale. We embrace the creative process. We love details as much as the big picture, and we look forward to joining your organization’s team to help it meet and exceed its goals.
Terrence J.L. Reeves (Thompson) is a partner at Growth Strats, LLC.