StartupNation: Open for Business

Aired on Detroit Public Television, this timely PBS guide features brothers and entrepreneurs Jeff and Rich Sloan, authors of the book StartupNation: Open for Business, who offer tips for those who might be considering starting their own businesses in light of the high unemployment rate and current economic woes. While emphasizing that this option carries risks as well as rewards, the Sloans believe many can successfully follow this path, which should begin with the creation of a “life plan” that identifies an enterprise marrying interests with skills, followed by a mission statement and decision regarding a business model either favoring a bricks-and-mortar store or an online business. Regardless of the choice, the Sloans believe a website is essential, and the siblings also explain the need for grassroots marketing, business “branding,” using social media like Facebook, “making love to the media” with public relations, and mastering the art of the one-minute “elevator pitch” to potential financial backers. The program is presented in a seminar format, with the centerpiece being “two-minute drills” in which audience members toss ideas at the Sloans, who provide rapid-fire solutions and strategies. In addition, successful entrepreneurs describe (via Skype) how they have weathered inevitable pitfalls on the road to prosperity. While the brothers' advice occasionally seems a bit obvious (hire a good lawyer and accountant), their enthusiasm is contagious, and their insights should benefit novice entrepreneurs. Recommended. Aud: C, P. (S. Rees)