No matter how good your idea might be, getting such a business off the ground requires a given amount of capital. And this business might require business skills that you do not possess. You could check around with friends to see if any of them are interested in joining you in such a venture, but you could spend months finding the right friends who are interested and available.
Every business is a jigsaw puzzle that requires just the right pieces to fit together. To help those pieces fit together, the concept of the business incubator was born. The function of a business incubator is to identify promising business ideas and then assist entrepreneurs in supplying the missing pieces to their jigsaw puzzle.
in the digital age – the age of information – public libraries are ideally situated to assume the role of business incubator. Why? Smart people congregate at public libraries to learn and share ideas. Public libraries are where questions are formulated and answers are found. Public libraries are set up to promote wondering. Wonder how libraries could develop greater sustainability? Well, yes, a digital services business that was incubated at a particular library could have a business plan where 20 percent of all proceeds from that business were returned to that library.
If a public library were able to spawn just one successful business, that business could bring in a revenue stream lasting the duration of its life. How long do businesses last? Some last three years, some last 30 years, some last longer. And if a public library were able to spawn several small businesses – you get the picture…
Photo by NYPL.
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