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On this episode of StartupNation Radio, your host, Jeff Sloan, chats with Dr. Luke Pittaway, Ohio University College of Business Copeland Professor of Entrepreneurship, and Dawn Dickson, founder and CEO of PopCom and Flat Out of Heels.
The state of entrepreneurship and small business today
Last month, The UPS Store released the findings of its first “Inside Small Business Survey,” which found that 66 percent of respondents dream of opening a small business.
Of respondents who hope to open a small business, top motivators include being their own boss (38 percent), followed by believing in the power of their own idea (17 percent) and creating their next career path (15 percent).
Jeff and Dr. Pittaway discuss the study’s results, noting several highlights, including:
- Gen Xers are those who feel the most optimistic and willing to branch out in order to start their own business
- Baby Boomers are also starting businesses at a high rate, and many for the first time
- Many businesses are shifting away from brick and mortar
- A focus on buying local
- Success versus failure rates today versus in the past
- The costs of starting up
During the show, Dr. Pittaway also provides insights into whether entrepreneurs are made or born, the importance pivoting and the common fear of failure.
An example of thriving entrepreneurship today
Eight months into her first corporate job, Dawn Dickson realized the typical 9-to-5 lifestyle was not for her. Not seeing much room for growth in the corporate world, she decided to be her own boss. She quit her job, and in 2001, started her first business. Today, she is the founder and CEO of PopCom and Flat Out of Heels.
Dickson created Flat Out of Heels, rollable flats that fit into a woman’s purse, out of necessity. After attending an event in Miami in high heels and desperate for a pair of flats to relieve her feet, she was out of luck.
She then set out to create chic flats for women on the go, dispensable out of vending machines to make purchasing convenient.
During the show, Dickson discusses:
- The story of why she created Flat Out of Heels
- Her product’s target market and her problem solving solution
- The vending machine technology (PopCom) she developed to sell her product
- The fashion aspect of her problem solving
Tune in to WJR 760 AM Radio on Saturday, June 2 at 2 p.m. for an all-new episode of StartupNation Radio.