/2 lessons for entrepreneurs from NYC’s small business agency chief

2 lessons for entrepreneurs from NYC’s small business agency chief


  • New York City is house to greater than 220,000 small companies, however a lot of them might not be conscious that they’ve a liaison within the metropolis authorities.
  • Gregg Bishop is the Commissioner of New York City’s Small Business Services, the place he’s accountable for participating on behalf of the town with entrepreneurs in all 5 boroughs.
  • Bishop spoke with Business Insider and shared to 2 key insights that entrepreneurs of all types can use to develop their companies.
  • Visit BI Prime for extra tales.

Almost three many years in the past, within the early days of the web — earlier than blogs had been a factor — there was Gregg Bishop and his underground hip-hop web site “Da Sewaside.”

As an adolescent, the self-taught Grenadian immigrant would keep up coding until the early hours of the morning whereas listening to artists like Das EFX within the attic of his Brooklyn house. Bishop mentioned he used a pc his mother had purchased for him along with her wage from working two jobs as a nurse.

“I had to drop out of college because instead of doing my homework, I would be up until four or five o’clock in the morning, just listening to hip hop and coding my website,” Bishop mentioned.

Today, Bishop is the commissioner of New York City’s Department of Small Business Services, the place he’s accountable for participating on behalf of the town with entrepreneurs in all 5 boroughs.

As his favourite observe by LA rap group The Pharcyde goes, “Now that I’m older, stress weighs on my shoulders heavy as boulders. But I told y’all until the day that I die I still will be a soldier and that’s all I told ya.”

Bishop credit his success to 2 key insights, which entrepreneurs of all types can use to develop their companies, and his story reveals simply how well-suited he’s for the job he is held for the previous 4 years.

Hire people who find themselves smarter than you

Bishop’s music web site turned so standard that Vibe journal finally acquired it to change into a sub-vertical of its net presence, and after just a few years Bishop was recruited to be the technical director for TheStreet.com.

While at The Street, he labored with Dan Woods, whom he credit together with his first vital administration perception for entrepreneurs.

“He actually was one of the key folks in terms of helping me understand how to be a good leader, how to build teams,” Bishop mentioned. “Most importantly, how to hire people who are smarter than you.”

“You cannot be intimidated,” he continued. “It’s okay if somebody is smarter than you, because it just makes you look better when you have people who are great.”

Bishop’s rise continued till the fear assaults of September 11, 2001, pressured his employer to shutter his division, placing him out of a job. The subsequent dot-com bubble collapse meant he was out of the blue competing with an amazing variety of extremely certified tech employees.

Roughly a decade after he first enrolled in school, he determined to return and end his diploma, and even continued on, to earn a graduate diploma in communications and administration.

Ask for assist earlier than you need assistance

Throughout his training, and upon returning to the New York City workforce, Bishop made a degree to achieve out to his community for leads and alternatives at each flip. But, looking back, he mentioned he nonetheless may have completed a greater job of that.

“There’s many points in my life where I thought I could do it on my own, and I was definitely wrong,” he mentioned. “Probably, things would have been much easier had I asked for help earlier.”

Bishop mentioned he sees this resistance to help virtually daily in his work.

“We see that with business owners, because they don’t ask for help until their backs are against the wall,” he mentioned. “Folks have an eviction letter in hand, and now they’re coming to us, and it’s like, we could have helped you long before.”

Still, having been within the state of affairs himself, he mentioned he has empathy for those that discover themselves ready too lengthy to achieve out.

“A lot of times, we don’t want to ask for help, because it forces you to admit that you don’t know,” he mentioned. “In some circumstances, folks may equate that for weak spot.

“I believe it’s positively one thing that plagues numerous us,” he said, adding that he sees it as a sort of pride and an “I can do that by myself” mentality.

What Small Business Services does

In phrases of numbers, Bishop’s agency reviews that it has served greater than 19,000 distinctive clients and companies, linked greater than 27,000 New Yorkers with jobs, and invested greater than $1.71 million in community-based organizations to develop native companies.

SBS’ flagship initiatives embody offering free authorized help to business homeowners, connecting minority- and women-owned companies (MWBEs) with metropolis contracts, and serving to join business homeowners to varied funding sources. Businesses not based mostly in New York may profit from the agency, by making use of its intensive on-line assets for training and coaching.

Bishop mentioned the agency has grown significantly since he turned commissioner in November 2015, and he’s optimistic about hitting quite a lot of vital targets this 12 months, together with certifying a report variety of MWBEs and serving to small companies alter to a digital future.



Source link Businessinsider.com

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