Tom Loutzenheiser on gazelles

How many of you read the nice article that Tom Loutzenheiser wrote about gazelles for the Idaho Statesman? (Nov 16; linked at right in Bookmarks or?Ǭ† here). Nor have I seen any comments in the blogosphere. It scrolled off the front page immediately but I did comment on it. Not sure if anyone will see that either, LOL, so I’ll essentially reprise my commentary here. Basics of Tom’s article?

1) Gazelles (fast-growing firms) are essential.

2) Idaho could do a whole lot better.

I just got back from visiting the Kauffman folks who he references - the stats on this issue are multiplying and keep telling the same story.

We are a terrific small business state, but pretty weak as an entrepreneurial state (”entrepreneurial” really is about high growth potential). We are great at inventing, but that entrepreneurial mindset about growing businesses does seem to be missing all too often.

* The fastest-growing 15% of firms create 85% of the net new jobs - in a bad year. Tom’s comments here are important, folks. 85%.

A few other stats that might give the reader pause. (Note: You might want to check Tac Anderson’s article and others in IQIdaho’s July/August issue. Also, I’ve linked more stats here at techboise.com.)

Yes, we score extraordinarily high in new businesses per capita, but we are UP to only #37 in the number of jobs created by our new businesses & we’re #41 in jobs created by high-growth gazelles. The numbers are creeping upward, but it’s pretty clear that nurturing new (and existing!) firms with high growth potential is a key leverage point for Idaho. And a HUGE opportunity!

Keep in mind that gazelles are often not “tech” firms - simply firms who’ve identified a big, sustainable value proposition for customers and had the skills to manage the growth process. (They don’t even need to be for-profit; check out HealthWise.) At one point, the region of Idaho that had the highest % of gazelles was…. the Magic Valley. Ag/biotech, anyone??

Also keep in mind that part of the frustration felt by Tom & others is that we actually know how to help firms identify and manage growth. Startups. Existing firms.

And there are plenty of experts out there nationally who offer us the blueprints for that - and are willing to come here and help. Like the Kauffman folks.***

Who’s willing to help us help grow Idaho?

[norris.krueger@gmail.com]

*** (Can anyone tell me why we don’t invite these experts?)

Share This