The best solutions often begin by identifying the greatest problems.
In the world of small business, many obstacles can stand in the way of someone pursuing their dream–finances, resources and even self-doubt.
For entrepreneurial-minded Dan Smith, making a difference in his hometown of Kansas City is standing in those gaps and paving the way for others to become successful entrepreneurs.
He and his team, Miranda Schultz and Charon Thompson, operate the entrepreneurship support organization (ESO), The Porter House KC. Their journey began almost ten years ago and has grown into something greater than Smith could have ever imagined.
‘When Google Fiber started coming to the city, there was this huge conversation about making Kansas City the most entrepreneurial city. A lot of those conversations didn't translate over into the urban core,” Smith said. “We decided to attack the lowest hanging fruit–small business education.”
Their first strategy was hosting monthly speaker events, featuring other subject-matter experts. With some guidance and financial support from the Kauffman Foundation, The Porter House KC quickly became a reliable resource hub for small businesses in the city.
“We had no idea about any of this stuff,” Smith recalled. “We didn't know there were dollars supportive of ESOs. We did a deep dive into this whole ecosystem and learned about what was going on in Miami, California and Ohio.”
Based on their findings, Smith and his team used their ESO grant dollars to create a 15-week small business development program.The goal is to help participants build a business plan that they present during a “pitch night.” They invite the community, their friends and family to come out and learn about their business ideas.
“Because of JP Morgan Chase, we've been able to give out some small-dollar awards to three of those winners; totaling $10,000 to a first, second, and fan favorite from each Cohort.” Schultz added.
The Porter House KC’s most recent venture is the 811 Retail space, a retail incubator on 31st Street in Kansas City that gives small businesses a safety net for growth and discovery. If selected through the application process, businesses are able to set up shop within the space for 18 months, which helps them consider if small business is right for them.
“We put people in a different mind frame and help them understand that failure is not avoidable,” Smith said. “You actually want to get those failures quickly so you can bounce back and figure out what actually will work. That's a big part of the purpose behind the retail space.”
In ten years, The Porter House KC has supported over 400 entrepreneurs, given over a million dollars in small dollar grants and seen small businesses make it to big box retail. Through its success, Smith has never lost amazement of how his own dream has made such a difference.
“Thinking about where we've come from, I wouldn't be able to give you the blueprint,” he said. “We say that the reward for hard work is being able to do more work. We celebrate by waking up the next day and continuing to do the things that we love.”
Get involved by visiting: theporterhousekc.com/