I have a friend who wanted to start a business for years.  But, I- and a few other of my fellow advisors- knew that he was not a prime candidate for the kind of business he envisioned.

Almost any new venture involves risk.  (Even existing ones do!)   But, it’s far riskier to start a business based upon a product with no track record than one that already exists.  As a simple comparison, starting a high tech pharmaceutical enterprise is entirely different- and riskier- than starting a new dry cleaning establishment.

Either one though would be well served by an advisory board and a mentor or two.  That’s the kind of services we provide our clients.  We even run a combination networking/mentorship group for folks within 20 to 25 miles of our offices.  (The distance is more related to the fact that you are expected to show up each of the three weeks a month we meet in person; the other weekly meetings are via virtual services.)

So, we were pleased to hear about a person who is trying to provide similar services to those in developing countries.  Endeavor Global is a non-profit venture headed by Linda Rottenberg and her co-founder Peter Kellner.  She works with folks in the developing nations, providing mentorship and other support, so their ventures can be the success about which the founders dream. I’m actually surprised it took us this long to hear about this venture, since Endeavor Global is not a new kid on the block; it’s been around almost 17 years now, operating in 45 cities among 20 countries.

The companies with which it works are selected by local business leaders; the firms have been around at least long enough to be recognized by the panels.  And, the entrepreneurs stay associated with EG for at least 6 months.  (We find that 1 year is best; that way the year-to-year comparison can serve as validation for the effort our program entails.)

Like it was in the States in the early 50’s, when folks had no clue what entrepreneurs really were or what they did, that’s the case now in the developing countries- where many of them lack a vocabulary to discuss the concept.

These places are not used to having businesses fail and then recoup- which is exactly how entrepreneurs operate.  So, one of the major efforts is to help the founders take reasonable chances. Which means that there are emotional and psychological boundaries that must be pierced.

By choosing the right entrepreneur and helping him/her succeed, these newly successful entrepreneurs can serve as models for others in their community.  They can serve as mentors to other nascent ventures, and, in so doing, make it easier and better for others to thrive in their communities.

Now, there’s a group with whom we should all consider working, or, at the very least, proffer some of our cash to help them help others.

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