I subscribe to a daily ‘Word of the Day’ email from Merriam-Webster and the other day the word was grubstake.
grubstake GRUB-stayk verb :
to provide with material assistance (as a loan) for launching an enterprise or for a person in difficult circumstances
Apparently, the word gained footing during the California gold rush, and yes it’s actually a combination of the word “grub” (food) and “stake”. Fascinating.
It’s also interesting to note that this entrepreneurship thing has been around for a long long time. Way before California in the late 1800’s. Workin’ for the man in the manner in which we do as a society really took hold with the industrial revolution. For many centuries, being a solo entrepreneur was the norm.
So as you’re ready to take that leap into being an entrepreneur, remember that there are centuries of small business tradition for you to learn from and build upon.
Today there are plenty of angel investors around to grubstake you in your new business.
Start it up!