Creating a Culture of Entrepreneurship: Spotlight on Neil Linscheid, State Specialist in Entrepreneurship
19 May 2023
Entrepreneurship is a vital component of economic development, and many factors contribute to transforming an entrepreneurial spark into a successful business venture. While factors such as timing, the right idea, and a solid plan are essential, the role of the community in fostering entrepreneurship should not be overlooked. Neil Linscheid, State Specialist in Entrepreneurship at the University of Minnesota Extension, is now delving into how communities can create environments that help entrepreneurs flourish.
Linscheid is an experienced community economics educator with 15 years of experience at the University of Minnesota Extension. His role is more than providing direct guidance to aspiring business owners. Instead, he identifies what makes a place conducive to entrepreneurial success. This effort is part of collaborating with Compeer Financial and AgCountry Farm Credit, financial services companies with significant stakes in rural community vitality.
Creating A Supportive Environment for Entrepreneurs
According to Linscheid, each community has different strengths and resources to bring to the table in creating a supportive environment for entrepreneurship. Some communities have built a culture that values entrepreneurs and innovation, while others have cultivated resources like financing, business technical assistance, and a robust economic development strategy. Linscheid notes that community leaders who believe their community could do better are the people he and his team aim to support.
In addition to creating a supportive environment, connections are crucial for nurturing entrepreneurial growth. Mentorship for emerging entrepreneurs and support for risk-taking are essential components of this. Linscheid also highlights the need for underserved communities and immigrants to be more decisive in the entrepreneurial landscape. As part of the joint programming, Linscheid is piloting a University of Wisconsin Extension program called Homegrown Entrepreneurship in two communities in southeastern Minnesota.
Todd County Development Corporation Annual Dinner
According to Linscheid, entrepreneurship is a vital component of economic development, and the role of the community in fostering entrepreneurship must be considered. Linscheid notes mentorship and risk-taking support is essential for emerging entrepreneurs. He is also exploring the needs of underserved communities and immigrants and how they can play a more substantial part in the entrepreneurial landscape. He talks about the Todd County Development Corporation Annual Dinnerr, a remarkable event where many individuals in Todd County are actively engaged in fostering entrepreneurship with unwavering commitment. Drawing attention to the exemplary leadership of TCDC’s Executive Director Rick Utech, Linscheid emphasizes the intelligent strategies employed to unite various stakeholders and synchronize their endeavors. Linscheid states, “Utech's exceptional approach fosters collaboration and amplifies the remarkable contributions made by partners, thus magnifying their positive impact. Moreover, he skillfully highlights the significance of entrepreneurship by effectively narrating compelling stories and showcasing inspiring examples, further fueling the drive for entrepreneurial excellence in Todd County.”
The efforts of Neil Linscheid and his team at the University of Minnesota Extension are a step towards creating environments that help entrepreneurs flourish. By identifying the strengths and resources of each community and supporting their efforts, Linscheid and his team aim to help create a culture that values entrepreneurs and innovation, providing the necessary mentorship and support for risk-taking that can lead to successful business ventures.
Todd County Development Corporation: Fostering a climate for entrepreneurship
TCDC’s mission is to sustain and promote diverse economic development through education, training, and technical assistance that improves the quality of life in Todd County. TCDC operates a Small Business Development Center (SBDC) Outreach Office, providing free education, training and technical assistance to entrepreneurs,businesses and organizations. Contact us here for more information on how to grow your business in Todd County.