The 6 domains of the Entrepreneurship Ecosystem: Part Three — Human Capital

Last week we focused on Markets. Today we’ll delve into segment #3, HUMAN CAPITAL

While it is important and vital that you have talent in your physical location, in today’s internet world you can leverage talent that is virtual.

Human capital includes skilled and unskilled workers, serial entrepreneurs, members of your extended family, educated and uneducated. Talent is represented in many ways other than than traditional employment. Talent can be in the form of internships, mentor-ships, coaches, biz advisors, peer-to-peer learning, part time employment, contractors, and so on. It is important for the ecosystem to have the individuals AND attract them. This can happen in several ways — first a mind-shift in the community, from traditional employee-employer relationship, to the “gig” economy, which means people or persons having a job like a singer would have a gig.

It might be short term or long term, or performing in multiple places. Consider alternatives to staffing your company other than the traditional relationship of employee/employer. This also requires that you respect the rules, laws and regulations that come with, such as knowing how to ask for time and when, how to work with the time they give you.

BEFORE YOU GO

  • Think about assembling a mentor or advisory board for your startup or business
  • Create a peer-to-peer circle
  • Consider drafting job outlines

NEXT WEEK: FINANCE

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Faris Alami is Founder and CEO of International Strategic Management, Inc. (ISM). He works internationally, presenting Exploring Entrepreneurship Workshops and other entrepreneurial ecosystem — related ventures.