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Terminal Value

Local Entrepreneurship with Josh Duder

Doug Utberg

Business Growth Authority | Technology Strategy & Resourcing | Cost Optimization Expert | Business Process Architect | Financial Strategist | Founder - Terminal Value Podcast
Let's Connect

I have Josh Duder on with us and so Josh I actually share a connection that you might not know. But just by looking at us since we’re both old now but we both served in the marines. The marine corps me and the reserve Josh is a permanent personnel at a very similar time. Josh has a far more cool marine background than I do. I think I spent my whole time as a reservist and he did cool stuff like you know fast rope insertions out of helicopters into buildings. But right now Josh is the executive director for the Chahalem Valley Chamber of Commerce. Josh told me did I say that right.

Josh: Yeah, yeah. Good, good one. It is the executive director the previous three people that were the executive position were considered the CEO and with the last turnover the board of directors wanted to make a title change just to sort of go with a culture change and that isn’t it detract from the efforts of the last person but maybe it’s a it’s an effort to re-engage with the board.

Yeah.

And encourage them to feel enfranchised.

Gotcha, gotcha. Well so one of the things that Josh and I would like to talk about today because of course I’m a member of the Chamber of Commerce also one of the chamber ambassadors but what Josh and I would like to talk about is just the importance of local business, the local economy and local entrepreneurs. You know one of the things that I’m an art believer in is that reality happens locally. I know that whenever, If you go on Facebook or any of the other news sites you’re going to see national global whatever. If you’re in the state of Oregon like we are you’ll see stuff from the governor’s office all the time because the governor’s office is always doing weird stuff but the

truth matters what happens in your community generally speaking is what’s most impactful to your life. Whether it’s your community organizations, schools etcetera and so I know one of the things that we’re really doing as a part of our Chamber is we’re really encouraging.

I think after thanksgiving we called it shop local Saturday which was encouraging people to go out and do some of their holiday shopping locally instead of just buying things off amazon or going to the mall. uh So Josh I think the you know feel free to take a swing at anything. I just said or completely take us off in another direction.

Sure yeah. So I’ll just start with the shop local program. I think I’ve worked for the chamber of commerce.

Yeah.

For we’re going to go into my third year here. I was working with membership services and just answering the phone and being sort of all around customer service for the chamber of commerce and without jumping into the big boots right away. It gave me an opportunity to sort of have one-on-one conversations with a lot of members that were at a lower level.

Yeah.

He sort of got to talk to them about what’s going on and I learned a lot. It gave me a good chance to form meaningful conversation relationships and have meaningful conversations with these people who are you’re just people and I think before working at the chamber sometimes you would look at people that are in a position of leadership within a company within a company structure.

Yeah.

And I think especially coming from a military background you go oh well that’s the president right. You don’t speak to people at the upper echelon of management unless you’re spoken too.

Yeah.

And it’s you know and so some of those marine corps traits have guided me successfully to this point. But then when you work within the chamber of commerce it sort of changes those conversations. You know hey, he’s the president but he’s also a guy that you know puts his pants on the same way you do or you know she orders her coffee the same way you do and so the conversations become personal.

Yeah.

And within that context. Now that I’ve taken over the reins for the chamber of commerce. I had a few people that have expressed the interest of promoting small business Saturday. Well you, you and I and everybody but you know they might see this as a hashtag or social media. You know a bit on fakebook or whatever and said okay well that’s nice you know I’ll do that but what does it mean to these businesses. It means the world to these businesses and so I had the executive director of the downtown coalition Molly. And Molly Olsen and she approached me and said hey I really need your support on this. We are going to support local businesses especially now in the downtime by promoting small business Saturday. Can you write the proclamation? And I said What? What is this proclamation you speak of? And why is this my job? And it turns out I looked into it and traditionally. The executive office from the chamber of commerce is the one who presents the proclamation.

Yeah.

To the mayor of the city and then the mayor of the city reads it out to the city council. This is all new to me. But, businesses were telling me hey you need to do this and you know and they’re just like Josh we need you to oh okay so I had to go back and find an old copy of one and had statistics in it and I had to go find new statistics but we got that in front of the mayor and he read that out. You know in front of the city council and it seemed well worth the effort and so just on November the 28th is the last Saturday. It gave, you know people were going to go shopping anyway but it made it official and it felt like I was a part of promoting that.

Yes.

It felt good. it warmed your heart. And so the downtown coalition and the chamber of commerce really pushed this out and then we got some support from our DMO or a destination marketing organization called taste Newberg. okay so yeah.

And so for anybody who’s listening from outside of the Chahalem Valley Oregon area. Newburgh is a town you know is a town in Oregon south of Portland in the you know probably in the wine area. It’s kind of the northern part of the Willamette Valley. Wine region where you have you know Dundee McMinnville etcetera but for people who are local they’ll know exactly what I’m talking about.

Yeah.

And of course right here Newberg because I think it’s where I live. It’s where both of us work. I think Josh lives not too far away.

Right.

It’s Lafayette right.

Yeah it’s a 20-minute drive at worst.

Yeah if you’ve never heard of Newburgh trust me you really haven’t heard of Lafayette.

But imagine if you lived in a city. If you lived in Portland it would take more time to get from one side of Portland to the other than it would to get from Newberg to Lafayette.

Yeah, exactly. Precisely, precisely but yeah I mean of course both Josh Albassy are very passionate about just about local business, local economy and I think at least for me one of the things that makes it very meaningful to me is just like when you get to know the people there’s just a lot of really really genuine caring people that are you know that are running these local businesses. And you know I think that’s like you know you don’t you don’t necessarily want to say you want to tell people hey shop local like it’s an act of charity. It’s like your shop local because it’s like the way to make resilient communities. You know because like okay yeah you know I’m sure I can buy something for five percent less on amazon. You know but the fact of the matter is that you know that I would not notice that five percent. The only reason why I notice it is because I’m doing an online comparison shopping. You know because one of the things they say in sales is that everybody has something where they don’t pay attention to the price and so we’re not saying you shouldn’t pay attention to the price on anything but the thing is if you’re talking 5 10 percent and the difference is local. It really is worth it to support your local providers just because a lot of times a you know your: A in a lot of cases you’ll be either getting better service better products or both and then B is that these local entrepreneurs are usually very very involved in the community and so there’s a multiplier effect because like for example almost everybody who’s one of the chamber ambassadors is also in one of our two local rotary clubs. And so then what happens is you know as support goes to these local businesses then those people gen you know also are investing time in rotary which is you know which recirculates effort donations etcetera into the community. And then kind of creates that virtuous growth cycle. You know but of course the problem is right you can’t do that if there’s no net inflow of capital into these businesses.

Yeah one of the one of the statistics that came from that proclamation. I’ll throw this out. There was that according to the lLA times recently published 66 of 66% of Americans earn less than 41,212 dollars a year right. The best way to help them earn more is to shop local. That being said, that’s because directly tied to that statistic is that 65% of net new jobs that have been created by have been created by small businesses since 1995. So there is a higher percentage of Americans that are employed by local and small businesses than they are by corporations even though corporations are proliferating our shopping experiences with easy access to the same goods that we want. There is an incredible value to spending slightly more at Ace Hardware. You know Ace Hardware, yeah it’s a big franchise program. But it’s independently owned right.

Yeah.

So the Ace Hardware in Newberg is owned by Betty and Mark. Forgets chamber members. I value their membership right. They do quite well on their own to to advertise. They don’t need the chamber really but they are members of the chamber because they believe in community and helping other

Yeah.

Businesses that depend on them. So maybe they buy some of their items from other local manufacturers that sell in the Ace. So now what you’re doing is you’re supporting that local business owner. All the employees that that local business owner employs and the local businesses where that employer or where his hardware or that local franchise you know gets their some of their items from. That they put on the shelf so the money stays in the community. It turns and turns around you know. They spend it on gas at the gas station, the community which also employs a local. You know they buy it at a coffee shop which also employs a local.

Yeah.

So if you spend your money where you live. It will circulate where you live. If you spend it at a corporation, it will leave the area.

Yeah.

And you and I know there are some things, there are some things you simply can’t get local you know. If you’re a parent and you’ve bought diapers, you know you’re buying diapers in bulk and you’re getting them from Fred Meyer. You’re getting them from Costco.

Yeah, exactly.

But good you know is there a local diaper manufacturer no. But there are some things that you should if you can. Source locally.

Yeah. Well and I think the Ace Hardware I think is an excellent example because like I know for me there are a lot of cases where I will go to the Ace just because I know that the trip will take half as long as if I go to like for example home depot because you know because like in a lot of cases there will be something where I need to fix a problem but I don’t know exactly what I need. And if I go to the ace there’s people about there’s somebody about every second or third aisle who you know who can help me figure out exactly what I need. Whereas I can spend literally hours. You know, I you know basically aisle surfing over at home depot or Lowe’s trying to figure out what I need to fix a problem. And so I think that’s actually the service component is really I think what separates a lot of the local businesses. You know and I think what you know we’re talking about USA pay a little more but in a lot of cases you’re not talking identical. You know identical products or services either like for example, I think okay a lot of people like to go to Starbucks to get their coffee well okay if you go to some place like caravan coffee where you know where what they do it’s right they have their vacuum sealed being you know they they roast their beans right there. They have them vacuum sealed and then they do their chemex pour over. It’s just completely different. It’s not even remotely comparable to Starbucks.

Right.

You know but of course you have the to the amateur observer and you know it’d be like okay one’s coffee one’s coffee what’s the difference. But I think then you know it’s really kind of developing that appreciation. You know and then of course all the local proprietors where as you said you have their story and are you know and in it almost to a person are just very very community-minded people.

Another good example would be locally here in Newburgh would be a coffee cottage.

Yes.

Coffee cottage is also roast their own coffee right.

Yeah.

They employ, you know a handful of local college students, high school students to run both their drive through as well as their walk-in café. Full-time roaster, full-time manager but every, every dollar that goes into coffee cottage that helps them sustain their business. Also goes into the pocket of the building owner. The building owner is a graduate of George Fox University. He’s a local guy right. Owns several buildings downtown and his number one priority is not to fill his pockets with money from all the rent that he’s collecting. No, no it’s to keep businesses successful especially in the time of covid of course he wants to pay his bills on time that’s sure but it we are in the chamber is in one of the buildings that’s owned by the same owner right and so if all of his buildings are full and thriving then he doesn’t need to raise the rates.

Yes.

To ensure that he breaks even or or covers his costs. So it’s all connected.

Yeah exactly, exactly. Well and that actually so you know you know because I think one of the other areas that I have a high personal interest is in real estate investing. Now I think the kind of the traditional model of real estate investing is when you buy a property. Squeeze every nickel you can in rent out of it. You know but of course I think you know what you’re saying is that there’s actually sometimes a bigger picture in effect which is where like. For example okay you know let’s say that you own a high number of properties in the area keeping all those properties occupied and then maybe you know it’s instead of trying to get everyone at the highest rent you possibly can. What you do is you know if you price them at it at a you know at a you know say low competitive rent rate but then just raise it a reasonable amount every year you know over five to ten years you know you’ll be right around market rates. You know but then you’ll be building in that flexibility to where you can help facilitate that local economy stability.

Also you create goodwill and so if one of your retail spaces or your commercial spaces or whatever you have. If one of those opens up. You’ll have willing tenants.

Yeah.

You know and they’ve, they will have heard oh this is a guy or this is a woman that we want to work with. This is a property owner that cares about their property and cares about their tenant. They take care of the property 10 improvements. You know 50% you know covered or whatever the case may be and so if they if they’re willing to work with you and help keep that business going positive word of mouth. Just like with any business, positive experiences go really far and all it takes is one bad experience to bring that person down. So.

Isn’t that the same way it works if you’re working with Cushman Wakefield.

Anything really right.

Well said yeah Cushman Wakefield the you know one of the enormous commercial property management companies and you know there is no deviation. They have their contract take it or leave it .

Well sometimes companies are. That’s you know, that’s the benefit to a corporation though right isn’t. It is that they’re big, they’re too big to fail or I.

I don’t know. I’d be willing to bet that they’re in pretty rough shape right now because.

When but, when they do fail they fail hard right.

Companies are defaulting on rents all over the place.

I see those places.

Just about every mall. Everywhere is having trouble collecting rents. You know because people are either going out of business or they’re saying hey look I’m not paying and if you’re going to force me to pay then I’m just going to fold it up.

Yeah that no that happened. My wife is a retail manager. She was with Gap for 18 years and worked her way. All the way up to the head of store and was one of the most tenured head of stores in her district. She ran the gap out on the coast and the mall couldn’t, could not retain its tenants.

Yeah.

And the gap even the gap was suffering and said we can’t pay you this month and the mall said well we have mounds to feed as well and you know and it’s all connected and unfortunately the gap even had to pull out .

Yeah.

And that’s the state of those properties.

Yeah exactly, exactly. Well it’s and you know because yeah interestingly kind of you know just this wasn’t meant to be a covid economics show but you know it’s.

It happens.

You know, you know but it’s my podcast. So I’ll make it into a coping economics. One of the things that I actually think that I think is going to happen out of all this is that you’re going to start seeing a lot of these big mall properties just start going bankrupt left and right. And so somebody’s gonna need to figure out something to do with these properties. Now supposedly amazon is looking at buying these things up which I think would be interesting because the whole amazon business model is built around not needing to dissipate the enormous overhead of these huge footprint malls and so if amazon starts going in. It’s you know it’s almost like them kind of it’s almost kind of like an ego trip of them saying that hey we’re so good that we can you know that we think we can make something work that we specifically designed our business to avoid. But you know that you know that that’s set aside. You know I think that with the necessary changing dynamic of these big properties and malls I think that a lot of stuff is going to start distributing locally right. You know I think it’s either going to come through someplace like Walmart, Fred Meyer you know one of the big boxers. You know Walmart, Amazon, Fred Meyer you know. Now pretty much all of that is heading toward either delivery or pickup you know. And I think it’s really headed toward delivery and you know so then what’s going to happen is you’re kind of these big destination magnets aren’t really going to exist so much and so I think then that the gap is actually going to have to be filled by a lot of local places or hopefully the gap will be filled by a lot of local places. I think that there’s a I think there’s a real opportunity for a lot of local economies to kind of reinvigorate coming out of covid just because you won’t have that big people magnet of like the Washington. Well you know Washington square mall is close enough here. You want to have a big shopping mall that’s like that people magnet that you know that just draws all the teenagers and middle-aged parents into it.

Yeah.

Let me know your thoughts.

Yeah, you know I think I believe in cause and effect and if you take a look at there was an era of massive mall making in the 1960s, 70s and 80s were all these massive malls.

Massively grew up.

And we grew up right and then. What you start to see the deterioration and fallout of this process in the late 90s and early 2000s. But simultaneously to the death of the mall was sort of the revitalization of downtown shopping districts.

Yeah.

In small town USA.

Exactly.

And so there was this Rockwellian. Yearning for sort of like do you remember those posters we saw or when we were kids. You know remember those pictures and whatever we saw when we were kids and what that must have been like for our great grandparents or our grandparents to just kind of walk around downtown and it’s such a great feeling when you finally find a place like that. You, I went to school at Western Oregon University in Monmouth.

Okay.

And Monmouth and independence have great little downtown areas. It’s just one or two blocks you know but it’s cute. It’s fun to go in and out of those shops. They’re all locally owned. You can get anything you want sporting goods. You know clothes, drinks, food whatever you wanted it was all sort of there in these little college towns. And then I moved to McMinnville and Third street. McMinnville is phenomenal. It’s beautiful.

Welded up, it’s awesome.

It’s off the highway so you don’t have big trucks ambling through you know down. They can block it off and have a Halloween and the same is there’s the same potential here in Newburgh for that even though highway 99 runs right through the heart of the downtown area here. But to speak to what you know to speak to your point. We see the death of these shopping malls and I think that does bring about opportunities for entrepreneurs you know to set up shop.

Absolutely.

You know if the true trick yeah I mean this is a good segue right. The true trick to being an entrepreneur if one was wondering isn’t necessarily being a risk taker now some might say that in their presentation and say well you know. An entrepreneur is a risk taker and that’s true. I mean there’s always a certain element to risk you could work for a big corporation and be secure, right.

Well yeah you’re secure until you’re not.

Yeah, exactly. Or you know.

There are a lot of people who just got dropped on the street out of big corporations.

Exactly.

You know coming out of Covid.

Exactly.

I was I think there was about like, there’s a few hundred people over Netflix who were making like a half million bucks a year. That just dropped on the street.

Right.

They’re not going to replace that.

No. But I think to start a company. You have to look for a problem that you can solve.

Yeah.

Right.

Exactly.

And so if you’re paying attention to what’s going on with big box stores, if you’re paying attention especially what’s going on with these malls there is a still going to be a need for goods. People aren’t going to all of a sudden not need shoes. People aren’t all of a sudden not going to need, you know a shovel or some rain boots or whatever that item might be. But you have,

If you have the entrepreneurial spirit you have to look at this and then what problem can I solve? And what are my resources? Right.

Yeah.

And so if you think well we probably need a couple satellites up in space to do xyz but you’re not a you know aerospace engineer. Well then that’s not your problem to solve. But if you’ve worked as you know in retail or food service and you have a little bit of experience you can call back on those experiences. Think well. What did I do well? And How can I take those experiences? And fill in a void here. Solve that problem. We look at.

Keep going.

One of the fallouts from the covid situation here is the, is unfortunately the folding of a lot of restaurants.

Yeah.

You know a handful of our favorites and some restaurants we’ve never had. Oh well I’ll get that one.

That’s really too bad because there’s a lot of really nice restaurants in the area.

Yeah and you think yourself well I never even got out there. I never have to check them out. You know and unfortunately and this is, this might sound a little cold but those restaurants what are they leaving behind when the actual business closes? What’s left in that building? All the infrastructure for a restaurant.

Yeah, all the info for a restaurant yeah.

Right. And every generation has some new entrepreneur. A new restaurant here who thinks you know what I can do, that and even though that restaurant you never got to try might go out of business right now and then they might be your neighbor and you wanted to support them you know.

Well exactly.

Go and try. And so there’s that entrepreneurial spirit saying okay well here’s a void and here’s the infrastructure and here’s the problem I can solve. And they’re filling it up. Well go support them go and go give their menu a try and I think we’ll see some significant changes. Like you said, it’s going to turn to delivery restaurants whose menus weren’t sustainable, whose system of food preparation wasn’t didn’t really suit transportation.

Yeah.

We’ll see some of those menu changes and we’ll have some really smart people taking over some of these spaces and doing really cool things.

Well and also just kind of taking a little bit of a turn into entrepreneurial economics. You know the thing is you know the thing that’s important for a lot of people to understand is that you know failure isn’t necessarily failure right. You know if you come at you coming life from an employee mindset you think oh my God I just got dropped on the street. Where’s my income coming from. It’s like you know if you know if I have to burn down my net worth how I’m never going to be able to earn it all back. Whereas if you read the biographies of you know I don’t know what’s like you know Walt Disney. See I think Disney went bankrupt before he made it. I think Barnum went bankrupt like three times. PT Barnum and bankrupt like three or four times because the list just goes on and on. You know of entrepreneurs who you know who tried something thought they had a great idea just completely hit a wall and then and then had to start over and at some point just got it dialed in and then they made it all back multiple times over. And I think that, that kind of entrepreneurial economics is that you know is that you know it’s not a it’s not a hey I failed now it’s over. It’s no hey I failed now. I’m going to try again and once you get it right a lot of times what will happen is you’ll earn everything back you lost multiplied and I think that’s the mindset that you have to go in with. If you just have to find that match or that thing that problem you can solve or that service you can deliver. That’s just really, you’re really that right. Yeah, right market you know that right market match, your market service etc. That right match and you can come back in spades.

Sure and if you, if you’re a person that you know harbors that entrepreneurial spirit you’ll understand this was a quote that I recently heard you know and I’m sure you’ve probably heard it before in your life “You can’t have one foot on the dock and one foot on the boat” right.

Yes.

You’re either all in or you’re not, and so if you make a mistake or let’s say it just fails, have grit and determination. If this is what you want, go find. If the path you saw to success didn’t lead you to success try again, try a different path.

Exactly.

If the problem you tried to solve and now evaluate it. You still have to do your SWOT analysis right. You still have to determine is this a problem I can solve? Do I have the resources to solve this? And is this even a problem where I live or in my community that needs solving right.

Yeah.

You know so why come up with a solution to something that doesn’t need to be solved. But entrepreneurs also live with what I’ve heard as referred to as a reality distortion field right and so you. My wife is a lifelong corporate employee and she finds security and safety in that and when the gap failed her and her store closed she was one of few Americans to receive a severance package.

Yeah.

You know not very that doesn’t happen often.

No, not really.

And any newer employee for gap won’t get that. But she’s been with them for almost two decades and she earned it. And so they said not you know. A few months from now please reapply for any position you see and here’s a big bunch of money. So we were fine right and she said you know I might want to sit on this for a little bit and just take some time off but then she had another job offer come up from I think arena which owns Lane Bryant and all of those.

Yeah.

And she said you know what corporate security and she jumped right back into the corporate security world. Whereas I was sitting there going hmm I wonder you know what about this business or what about that business we can do all these and she’s like you just live in a different reality don’t you see. Don’t you see all the don’t you see all the obstacles in the way and I said no. I only see the path to success right. But I’m fortunate to work for the chamber of commerce where I can provide my wife at the sense of security.

Yes.

Yes I do work for an organization and as long as I keep working hard we should be okay. But I get the joy of finding those entrepreneurs who are weird like me and only see the path to success and I could, I could leverage our resources and our security that we have with the chamber to help them find that success and help them solve the problems.

Well and that’s the thing is because yeah you know if they you know generally speaking people who start businesses are optimists because yeah your brain has to be wired to where you see that path to success because if you thought about every way that something could fail then you’d never start .

Right.

And so what you almost have to do is you almost have to start off with some level of unrealistic optimism and then basically figure out your way how you figure out your way around all the bumps in the road until you get to your ultimate goal.

Yeah. It’s what another quote I heard which I could tell you

“You’ve got to do the things most people don’t, to get the things that most people can’t get”.

Yes, exactly.

Right and so being an entrepreneur doesn’t automatically equal wealth and success but.

It doesn’t, it’s not automatic.

Right

it’s not automatic but if you try and you try and you try and you find the right thing you might get there and at the very least you’ll be happy you know.

And then if you set up one business and there’s some people that are just sort of like they’re addicted to the concept of selling them off and that’s a good way to live too if that’s what you enjoy. You know so nothing wrong with that. Find multiple problems and attack them one at a time.

Exactly, exactly I’ll be related related quote I think so yeah. I’m in addition to being my Oakland athletics fan. I’m a San Francisco 49ers fan and so of course I, you know I studied everything, I’ve read everything I could on Bill Walsh.

Yeah.

And I think one of his classic lines is “the road to success goes through a town called failure”. Almost nobody is successful right off that. You know and it’s or another one that I heard is right you know the way you become successful is with experience the way you get experiences with failure.

Absolutely. And but the thing is entrepreneurial entrepreneurialism is not for everybody. So there might be somebody out here out there listening going you know where do I get started? And I’m going to tell you right now and I hate to break your heart but if you have to ask the question where do I get started? You might not be ready for it. You’ve got to go with your gut.

Yeah.

And if your instinct and if your gut is speaking to you and telling you you need to go for it, then that’s where you get started.

Doug: Yeah.

If you’re young, if you’re 18,19, 20 and you’re sort of thinking okay well I want to be an entrepreneur. What should I do? Where does my path begin? Then my answer to you is to surround yourself with people that are smarter than you.

If you can find an internship, go find an internship. If you aren’t sure what you want to study in college, parents are going to hate me but don’t go to college right or go find PCC or Chemeketa or something and get started in that two-year transfer degree where you’re studying based information you become a well-rounded individual surrounding you know. And then in that environment you start to pick up on what you do best or what you understand. But if I mean and this is only in terms of those that are thinking they want to be an entrepreneur. I mean if you want to go be a marine biologist then by all means please go find your way to the best possible university and be the best possible marine biologist you can be. But if you want to if you want to get out there and you want to start businesses you need to learn all that you can about those businesses. And the best way to do that is to find the experts. Go find a company that is a startup. A startup business in wi-fi technology or in solar technology and go learn how those businesses work. Get into sales.

Yeah.

Honestly sales is the hardest thing in the world to do if you’re an introvert but if you really want to start your own business one day.

You need to go kick butt for somebody else and learn how to have those conversations and you need to learn how to take no. Sales is a tough place but you will take no.

And get rejected and not let it not have a crush you.

Exactly and you know once you learn how to roll with those types of punches you can take bigger and bigger ones and maybe your bit then maybe one day you decide I do want to be an entrepreneur. I do want to start this business x whatever that is. Let’s say x fails but you’ve dealt with failure so you can move on and you can adapt and you can find the solutions and figure out what you did wrong and you could try why.

Exactly.

You know and maybe y fails. Learn again. Go find a different route. Find somebody that knows more about z and then try business z. So whatever that case may be, surround yourself with people that are smarter than you or experienced to see if you can work for them or with them or whatever the case may be. Like learn the trade.

Yeah. Okay yeah I think my theory on on entrepreneurism is that I think there’s two things that any entrepreneur needs to really really really have there have a strong pulse on. One is the accounting and the books and two is your sales and marketing you know is that you know those those are the two things you should never completely outsource. You know because if you ever step too far away from either one of those your business can go off the rails really fast.

Absolutely.

And so if you’re looking to set for something to study at the community college or the state school I guarantee you that accounting will be identical anywhere that you go. So go to the cheapest place you can learn accounting. It will not serve you wrong especially if you want to be an entrepreneur. Oddly enough a lot of people don’t know this but Phil Knight you know pretty much anybody on the face of the planet should know who Phil Knight is. But his background was in accounting, that’s actually what he went to college for. I just so happened he was also a track athlete and you know and got known you know for Nike. But you know he’s very very very attuned to how the numbers in the books work which obviously has served them well. And so then you know I think yeah another place that’s really important is to know how to sell and market your product or service, that is another angle and so then you’re generally speaking almost anybody’s going to go in with their aptitude in one of those two areas and so then you need to bring in help to help strengthen your you know help strengthen your business in a place where you don’t have as much net as much of that natural aptitude but Yes.

Absolutely.

Those are the two areas that are really important for an entrepreneur.

Yeah go get steeped in those pieces of information first and foremost business acumen is important. Yeah I mean you if you learn the trade of let’s say coffee roasting right then go roast Coffee but roasting coffee also isn’t going to teach you how to balance the books right.

Yes.

So maybe yeah go to college for that but it doesn’t have to be four years. I mean don’t let them convince you need a degree in that. You know just if you can go work a part-time three-quarter time job full-time maybe and then take night courses online courses on business management take what you need to get going and again maybe go work for somebody that can show you how to do those things too. Another thing not to I mean I would be remiss to not mention this as the executive for the chamber of commerce is that if you do think hey I wanna get started but I hey I’m listening to Josh and Doug and they say I don’t If I don’t know how to do this and I shouldn’t do it. Come and talk to me because we have access to organizations all across the state that do help. There’s you know even in the time of covid right now when you think all the money has been exhausted. There are grants out there for people to get certifications. You do not need a degree in business marketing. You can get a certification in bookkeeping and stuff like that from community colleges. You can get two-year programs on there whatever the employment, the state employment agency will pay. They have all kinds of different ways to manipulate and leverage money to help you get those certificates.

Yeah.

To get started sSBA, the small business alliance, business Oregon, SBDC score all of these organizations have resources even now. Right now I could get on the phone and help you pay for a certificate to get started.

That’s awesome.

So yeah and if you’ve already got a business going and you’re like oops I forgot about this wicket. Come and talk to me. We’ll find, we will find an organization that will help you get what resource you are missing to be successful.

Well and yeah and I think one other thing that I’ll put a pitch in for the chamber of commerce too because at least one of the things that I like about the chamber is that you know even if you’re in, so like for example my business. I’m in a business to business type of you know. That’s my business right, the number of of business owners in the chamber who would be my direct customers is pretty low however, a the people in the chamber are very well networked and so there’s an extremely high probability that I will that over time I will be connected to people who can be direct customers through people in the chamber but that’s actually secondary to me. To me the primary value of the chamber is that it gives me an opportunity to interact with other people who are experiencing the same things I am. You know because especially as an entrepreneur, it’s like you said you’re wired a little different from other people. You don’t fit in at most cocktail parties and so there’s actually it’s really important to be able to spend time and share experiences with people who kind of have that you know. Who you know who are going through those same things that you are and so I would say that yeah if you even if the chamber isn’t a direct line to clients for you it’s still. I think it is a very valuable resource. I think a, to you get to know, you to start networking and then also just to get a chance to really get exposure to people who are going through the same things to that constant reassurance that you’re actually not crazy.

Yeah and I think to get involved in the chamber yeah there’s a, there’s an upfront cost. There’s a lot of things I’ll do for you without you being a member. Literally all you have to do is call me and ask me and I will help you out. A membership might not be for everybody and membership might be for you right away and then you might mature out of it. You know you’d be a chamber member for two three four years, you’d network with everyone you could possibly network and you say you know what I really appreciated my time but I’ve got to move on and you know that happens a lot and that’s perfectly fine. We the chamber of commerce through one iteration or another has been in Newberg since the 1890s.

That’s quite a while.

It is, it was I think that the city commerce club. And then in 1914 when the city hall was built uh by bricks made by a local entrepreneur.

Outstanding.

So yeah well one of the sons of the city Edwards. He started a brick manufacturing company here. Newberg quickly found that there was better clay and willow miner. Transferred his whole business to willow miner but still provided the bricks to build probably sixty percent of the buildings that are in yam hill county.

Okay, oh wow that’s similar.

Yeah and and I mean on the entrepreneurial spirit is rooted here you know and so the chamber of commerce started in 1914 on the second floor of city hall. It’s been a constant part of the city. Different iterations, different registrations with the state but I’ve got you know documents that show it being an active member of the community in 1921.

Wow.

Collecting views and distributing money to help businesses. So you know all of that is still happening and people come and people go but the chamber will be here for you if you need it.

Outstanding. Well hey I think it’s, we’re probably getting toward the end of people’s attention spans. So yeah so finish this off with the last thought Josh.

If you, if you have any interest in chatting further about chamber needs or wants you can find us uh every week on a Friday. We have a greeters event. It’s all zoom right now when we can meet in person safely and securely within the guidelines of the governor. We will do so and we have a monthly chamber after hours on the second Tuesday of months typically. If you have any questions about chamber activity or how to get involved reach out to Doug. He’s an ambassador for the chamber, reach out to me. I’m the executive director of the chamber so I look forward to hearing from you.

Alright thank you very much Josh. Everybody have a great day.

Thank you Doug.

Okay following up on the conversation with Josh. One of the things that really kind of struck out to me is just number one the importance really of local entrepreneurs and the local economy. I think that it’s really easy to under appreciate that when you’re wrapped up in the National News and CNN and Fox News and everybody else. But I think the local economy is just really really important and that’s always driven by local entrepreneurs. Another thing is that there’s a thing that came out late in the conversation that I think was really important which is that failure isn’t permanent. So even if you take a risk or you work on try something and it doesn’t work out you can come back. People come back all the time. Some of the greatest entrepreneurs you’ve ever heard of are people who came back from bankruptcy and I think that’s actually really important to understand which is that

even you as you go through life’s learning process sometimes things won’t work out and you need to be able to have the courage to bounce back and figure things out. That is, that is the thing that separates the truly great from the average people who are out there.

You know now of course one of the things that I do in my business is I try to help make it so that companies don’t need to go bankrupt because I do expense reduction consulting and so what I can do is what I will work with your company to help you reduce your operating expenses without needing to drive layoffs and I actually have a system that in place to help do this in a very rapid amount of time by streamlining all the elements of our projects. In order to learn more please book a few minutes on my calendar at www.meetdoug.biz that’s m-e-e-t-d-o-u-g dot b-i-z. I’m really looking forward to hearing from you and I hope you have a wonderful day.

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