More on the need for support group for entrepreneurs

I made my first post yesterday about the need for a support group for entrepreneurs and immediately realized that I need to clarify this a bit further.

There exist some good organizations that are supporting entrepreneurs already like - TiE or websites like Enterprising India. But they are too technology focussed.

Don't get me wrong, I have attended a couple of TiE conferences and they are quite useful in that you can meet a lot of investors and consultants. Most of the young folks at these events are aspiring entrepreneurs, but very few who are early stage and from non-tech areas. There is also a lot of sponsorship from investor firms and hence the VC-funded or Angel-funded model seems to be the most common model promoted for new entrepreneurship.

I think I would like to create a group for people who have already embarked on the journey as entrepreneurs and want to share their experiences with others. For example, many of us have realized that our business models may not be most suited for VC or Angel Funding and that we have to grow by investing our own money, taking out debt from banks etc. Service industry companies face a lot of problems on hiring, collecting on payments, service contracts etc.

Doing business in India carries it own challenges because of the issues with funding, dealing with the bureaucracy, enforcement of contracts, labor laws etc. which are major hassles.

It would be good if people could share their experiences with others on which banks are good for first time entrepreneurs, how to create your proposals, how to deal with clients who don't pay in a timely fashion, where to find the best deals for PC's etc.

Their are times when we are at a low dealing with all the problems and risks of running a new business. We just need to connect and talk with people who would understand our issues and predicaments because we cannot share everything with family and friends. Many of my social contacts are people in academic careers, big companies or government jobs and their challenges and problems are different. Its difficult for them to relate with my problem of making next months payroll :) That is the kind of support group I am talking about.

BTW, I found a good blog on HBR Online - Discover Your Inner Entrepreneur by Dan Pallota which does a great job of describing why entrepreneurs are the way they are. Recommend reading it.