The New Instant Companies

Business 2.0 Magazine reminds us that the there are alternatives to the traditional strategy for building new companies.

The new formula includes these components: 1) cheap design tools; 2) offshore factories; 3) free buzz marketing; and 4) thinking globally from the start.

The new strategy does NOT require an entrepreneur to stay put in one place, and it does not require the entrepreneur to deal with the "locals," who simply want to put the new kid on the block through the ringer and extract their pound of flesh before the business can move forward. (Folks, that is exactly what we have in many ED organizations, business incubators, and entrepreneurial assistance centers across America.)

What does this new model of company-building mean to place-bound economic developers? For one, it will mean that companies in the future will be much less place-bound, and if your intent is to bind businesses to place, you may be in for a rude awakening. Secondly, it says to me that this new paradigm of inventing businesses could be an opportunity for economic developers everywhere to collaborate in helping birth new businesses. That's the plus side of this new strategy. Think about it.

Read the Business 2.0 article here (Paid subscription required.)