Does Oklahoma lack entreprenurial spirit?

[dcsooner]

I often read on this forum of our desire to attract businesses of all types to OKC. When I research many of them to determine where they were started, many resturants, IT and other stores are started in Texas. Just a few examples are: (Whole Foods, Container Store, Dell, EDS on and on) Got me to thinking, why does Oklahoma not have a business incubator that can provide start-up capital for those with good ideas? seems that not only do we lose top talent to other states but that Oklahoma is always begging to get a particular store instead of creatively starting our own local brands that may one day become highly successful and marketable. We did have a native start walmart, but he moved to Arkansas. Can Oklahoma keep anyone with talent and vision at home? Just asking

[LIL_WAYNE_2012_PREZIDENT]

sonic, 711, zio's

[okcpulse]

I often read on this forum of our desire to attract businesses of all types to OKC. When I research many of them to determine where they were started, many resturants, IT and other stores are started in Texas. Just a few examples are: (Whole Foods, Container Store, Dell, EDS on and on) Got me to thinking, why does oklahoma not have a business incubator that can provide start-up capital for those with good ideas? seems that not only do we lose top talent to other states but that Oklahoma is always begging to get a particular store instead of creatively starting our own local brands that may one day become highly successful and marketable. We did have a native start walmart, but he moved to Arkansas. Can Oklahoma keep anyone with talent and vision at home? Just asking

The companies you mentioned in Texas are well established companies that have been around for two or three decades. Have you not research Oklahoma's companies? To answer your question, yes, Oklahoma has a business incubator for start-ups, particularly in the area of biotechnology and technology alone. Take a look at i2e. Devon and Chesapeake were both Oklahoma start-ups. So is Continental Resources and Williams in Tulsa. Even though not the same caliber, perse, Sonic is an Oklahoma start-up. So is Hobby Lobby, Love's and QuikTrip. Sam Walton moved to Arkansas for personal reasons and just wanted to open a five and dime that... over time... was a huge success based on a new business model. Gene Wade, who was good friends with Mr. Walton and my grandmother, talked often about Sam and mentioned on several occasions during casual visits that he and his wife moved to Arkansas for family reasons.

Remember that until recently, the nation didn't really take Oklahoma seriously in the realm of enterprise, and that hurt us for years. If you were a Texas-based company wanting to do business on the coast, you were more likely to raise eyebrows than if you were an Oklahoma company. Even Chamber of Commerce delegates who traveled to trade shows couldn't get an audience of more than five at the Oklahoma booth. Where retaining talent is a concern, again, remember that for years Oklahoma had the toughest time keeping good talent at home. Another factor that helps Texas companies is that when you are living in a state with 25 million people and the second largest economy in the country, you have quicker access to capital in cities like Dallas and Houston. Oklahoma City is getting there, and we need to ensure that Oklahoma City isn't hampered any longer by cities like Dallas. Interestingly, Dallas' close proximity can be an advantage if we know how to play to that advantage.

Things are quickly changing in Oklahoma City. Thanks to everything that is happening there, more an more people are wanting to stay after earning a degree. Though I can't say how many actually want to start a company in OKC, I can say that many I know by friend or acquaintance wants to look in OKC first for a job instead of putting on the metal suit for the Dallas magnet. A recent story in The Oklahoman pointed out that this was the first year that, after all of the recent exposure with the Thunder playoffs, the OKC Chamber of Commerce booth in Las Vegas was packed with people interested in doing business with Oklahoma. Even the Chamber has launched an aggressive marketing campaign after recent research has reconfirmed that there is a huge disconnect with people on the coasts and Oklahoma City, even with the recent exposure from the Thunder - a team that is constantly questioned how they keep themselves entertained in a city perceived by West Coast sportswriters to have zero nightlife. Kevin Durant himself gets tired of being asked what it is like to live in OKC, but loves to talk about OKC because he loves it here. Even other team members have told sportwriters it is like every other city.

Every blasted time someone visits the city on business or for Thunder coverage, they are astounded that Oklahoma City is bigger than what they think. Even here in Houston, there are people at my company who thought that Oklahoma City was about the same size was Des Moines, Iowa. Not joking either. Even when I fly to OKC, there is always somebody on the plane who either A) points out the lakes around the city, not expecting to find ANY water in OKC, or B) always remarks "it's a lot bigger than I thought".

I don't know what information America is being fed to result in people believing that Oklahoma City is a one-freeway town, but educating the public is a constant with people in OKC. Sorry for the rant.

[bombermwc]

Very Very Very true on every point. Not to mention that it's more difficult than ever to survive as a small start-up. The costs associated with small business are hard to counter and there aren't enough things being done to counter that drag. You'll see several companies hold off on expansion because it would mean the next higher tax bracket or requirements for offerings to employees. What you are more likely to see these days, is a small start-up being bought out and absorbed into a larger corporation...or mergers creating that corporation. The more regulation in an industry, the more difficult it is to get going too.

[okcpulse]

I also want to mention that as the dynamics in Oklahoma City continue to change, it will be much easier to retain top talent and attract top talent.

[PennyQuilts]

I was born in Houston and much of my family still lives there. Growing up in Oklahoma, it never occurred to me to start my own business because the branch of the family I lived with were the type to work for someone else. I didn't know people who were self employed in my circle of friends, even acquantances. In contrast, my dad, step sisters, step mother and brothers, from Texas, were all entrepreneurs and having their own businesses came as natural as breathing to them. The worry about a business failure wasn't all that concerning in starting one - in our lifetimes they'd had multiple businesses, some that thrived and some that failed.

As my dad's business grew, the regulations and expenses darn near put him out of business with the down turn in the 80's. He had a couple of lawsuits filed in the 90's that cost him a bundle to defend against (discrimination claims brought by two disgruntled employees - the suits went nowhere but cost him a bundle to defend). He started shutting down the business after that because even though the suits were absurd and eventually tossed out, it turned him into primarily a punching bag for the accusations thrown instead of a businessman. That went on for about two years. He was a lot more careful, after that, in who he hired because of the experience. Gone were the days of giving "iffy" employees a chance at moving up in life because, as they say, no good deed goes unpunished. Big businesses may take that in stride but the entrepreneur that is right on the edge of moving up is a whole different story.

The others have deliberately stayed small because as soon as they hire someone, it gets much more complicated and regulated. I think that has been one of the biggest hurdles for individual businessmen to expand their businesses beyond being small. My Texas branch of the family knows more about starting, running, liquidating, marketing and working hard than most 9 to 5'ers ever will. And sadly, they understand more about frivolous lawsuits, toxic employees, taxes, regulations, insurance and business boom and bust cycles than our current members in congress.

I lived in Texas for awhile as a young adult and saw the same thing - so many young people who never wanted or considered working for someone else unless it was a means to an end, i.e., to start their own business. The contrast was stark to what I saw in Oklahoma at the time.

It was not until I went to Virginia that I became self employed in my forties. I have to say, I was bit by the bug and wouldn't want to work for someone else if I could find something to do on my own or just kept it part time. But the idea of having to deal with all the regulatory crap that comes with hiring employees is something I am not remotely interested in. Most of the people I knew with solo law firms in Virginia just hired out for clerical help and paid by the hour, no benefits. Call 'em independent contractors. Drop off much of the regulatory and tax crap and their paid-by-the-hour independent contractors would have been their first fulltime employee.

I've encouraged my kids to consider self employment but they are still in the mindset that you go to school, get a degree and look around for a good paying job with benefits. They have even less experience with self employment than I did and the notion is even more strange to them than it was to me. That being said, I've noticed that a number of their friends - particularly first generation immigrants - are businessmen who have several businesses or who have small artsy type businesses aided by the power of the internet. They haven't yet made the connection that their business minded friends are typically happier since they aren't locked in an office cubicle all day like a corporate gerbil.

I definitely wish OKC natives had a more entrepreneur spirit for small business but that may be changing and I just don't realize it. Man was not meant to be chained to a desk in an air conditioned building that swallows his soul all day. The government's quest to regulate and get their share of the revenue pie keeps a lot of businesses from taking off (and hiring more people). On the flip side, the internet has been great for small, artsy or boutique shops but, again, no one wants to hire employees due to regulation - they just hire independent contractors who are employees in fact, just lacking the perks that come with having a boss.

[soonerguru]

The companies you mentioned in Texas are well established companies that have been around for two or three decades. Have you not research Oklahoma's companies? To answer your question, yes, Oklahoma has a business incubator for start-ups, particularly in the area of biotechnology and technology alone. Take a look at i2e. Devon and Chesapeake were both Oklahoma start-ups. So is Continental Resources and Williams in Tulsa. Even though not the same caliber, perse, Sonic is an Oklahoma start-up. So is Hobby Lobby, Love's and QuikTrip. Sam Walton moved to Arkansas for personal reasons and just wanted to open a five and dime that... over time... was a huge success based on a new business model. Gene Wade, who was good friends with Mr. Walton and my grandmother, talked often about Sam and mentioned on several occasions during casual visits that he and his wife moved to Arkansas for family reasons.

Remember that until recently, the nation didn't really take Oklahoma seriously in the realm of enterprise, and that hurt us for years. If you were a Texas-based company wanting to do business on the coast, you were more likely to raise eyebrows than if you were an Oklahoma company. Even Chamber of Commerce delegates who traveled to trade shows couldn't get an audience of more than five at the Oklahoma booth. Where retaining talent is a concern, again, remember that for years Oklahoma had the toughest time keeping good talent at home. Another factor that helps Texas companies is that when you are living in a state with 25 million people and the second largest economy in the country, you have quicker access to capital in cities like Dallas and Houston. Oklahoma City is getting there, and we need to ensure that Oklahoma City isn't hampered any longer by cities like Dallas. Interestingly, Dallas' close proximity can be an advantage if we know how to play to that advantage.

Things are quickly changing in Oklahoma City. Thanks to everything that is happening there, more an more people are wanting to stay after earning a degree. Though I can't say how many actually want to start a company in OKC, I can say that many I know by friend or acquaintance wants to look in OKC first for a job instead of putting on the metal suit for the Dallas magnet. A recent story in The Oklahoman pointed out that this was the first year that, after all of the recent exposure with the Thunder playoffs, the OKC Chamber of Commerce booth in Las Vegas was packed with people interested in doing business with Oklahoma. Even the Chamber has launched an aggressive marketing campaign after recent research has reconfirmed that there is a huge disconnect with people on the coasts and Oklahoma City, even with the recent exposure from the Thunder - a team that is constantly questioned how they keep themselves entertained in a city perceived by West Coast sportswriters to have zero nightlife. Kevin Durant himself gets tired of being asked what it is like to live in OKC, but loves to talk about OKC because he loves it here. Even other team members have told sportwriters it is like every other city.

Every blasted time someone visits the city on business or for Thunder coverage, they are astounded that Oklahoma City is bigger than what they think. Even here in Houston, there are people at my company who thought that Oklahoma City was about the same size was Des Moines, Iowa. Not joking either. Even when I fly to OKC, there is always somebody on the plane who either A) points out the lakes around the city, not expecting to find ANY water in OKC, or B) always remarks "it's a lot bigger than I thought".

I don't know what information America is being fed to result in people believing that Oklahoma City is a one-freeway town, but educating the public is a constant with people in OKC. Sorry for the rant.

Great post. No apology necessary.

[dcsooner]

The companies you mentioned in Texas are well established companies that have been around for two or three decades. Have you not research Oklahoma's companies? To answer your question, yes, Oklahoma has a business incubator for start-ups, particularly in the area of biotechnology and technology alone. Take a look at i2e. Devon and Chesapeake were both Oklahoma start-ups. So is Continental Resources and Williams in Tulsa. Even though not the same caliber, perse, Sonic is an Oklahoma start-up. So is Hobby Lobby, Love's and QuikTrip. Sam Walton moved to Arkansas for personal reasons and just wanted to open a five and dime that... over time... was a huge success based on a new business model. Gene Wade, who was good friends with Mr. Walton and my grandmother, talked often about Sam and mentioned on several occasions during casual visits that he and his wife moved to Arkansas for family reasons.

Remember that until recently, the nation didn't really take Oklahoma seriously in the realm of enterprise, and that hurt us for years. If you were a Texas-based company wanting to do business on the coast, you were more likely to raise eyebrows than if you were an Oklahoma company. Even Chamber of Commerce delegates who traveled to trade shows couldn't get an audience of more than five at the Oklahoma booth. Where retaining talent is a concern, again, remember that for years Oklahoma had the toughest time keeping good talent at home. Another factor that helps Texas companies is that when you are living in a state with 25 million people and the second largest economy in the country, you have quicker access to capital in cities like Dallas and Houston. Oklahoma City is getting there, and we need to ensure that Oklahoma City isn't hampered any longer by cities like Dallas. Interestingly, Dallas' close proximity can be an advantage if we know how to play to that advantage.

Things are quickly changing in Oklahoma City. Thanks to everything that is happening there, more an more people are wanting to stay after earning a degree. Though I can't say how many actually want to start a company in OKC, I can say that many I know by friend or acquaintance wants to look in OKC first for a job instead of putting on the metal suit for the Dallas magnet. A recent story in The Oklahoman pointed out that this was the first year that, after all of the recent exposure with the Thunder playoffs, the OKC Chamber of Commerce booth in Las Vegas was packed with people interested in doing business with Oklahoma. Even the Chamber has launched an aggressive marketing campaign after recent research has reconfirmed that there is a huge disconnect with people on the coasts and Oklahoma City, even with the recent exposure from the Thunder - a team that is constantly questioned how they keep themselves entertained in a city perceived by West Coast sportswriters to have zero nightlife. Kevin Durant himself gets tired of being asked what it is like to live in OKC, but loves to talk about OKC because he loves it here. Even other team members have told sportwriters it is like every other city.

Every blasted time someone visits the city on business or for Thunder coverage, they are astounded that Oklahoma City is bigger than what they think. Even here in Houston, there are people at my company who thought that Oklahoma City was about the same size was Des Moines, Iowa. Not joking either. Even when I fly to OKC, there is always somebody on the plane who either A) points out the lakes around the city, not expecting to find ANY water in OKC, or B) always remarks "it's a lot bigger than I thought".

I don't know what information America is being fed to result in people believing that Oklahoma City is a one-freeway town, but educating the public is a constant with people in OKC. Sorry for the rant.

ALL your points are valid and well thought out but I'll debate a couple things. Yes, KD does state he likes OKC, but it's primarily because of its slow/unassuming lack of vibrancy relative to other places, somewhat devoid of robust nightlife etc which allows him to FOCUS on basketball. I do not necessisarily find that flattering. OKC is one of the hardest big cities (>1M) to fly in and out of, (not good for business when you have a DFW that can connect world wide). Cities our size with easier access (Nashville, Memphis, SLC, Raliegh, NC, Austin ). Listen OKC is trying to get stores the even smaller cities already have. You are an example of what I am talking about in regards to talent loss, you live in Houston, me in Virginia, we have always been hampered by cities like Dallas because the reality is Texans believe they are better and unfortunately some Oklahomans do as well. I understand Texas is a big state, but, there are other smaller States that compete in industries beside Oil and Gas. Until we keep more people like YOU in Oklahoma we will struggle

[adaniel]

Great post okcpulse.

I would hardly say that Oklahoma lacks entreprenual spirit. Heck, OKC was ranked #1 place to start a small business as recently as 2009.

http://money.cnn.com/smallbusiness/b...pshot/241.html

I've actually thought that one thing OKC excelled in was creation and sustainabiltiy of small businesses, although largely out of the lack of big corporations competing against them. Whereas in Texas its big chains and megacorporations everywhere.

With all of the blab about Houston being the energy capitol of the world, a lot of people fail to realize that Oklahoma was the place a lot of the natural gas drilling technology was pioneered, such as hydraulic fracturing. And the simple fact that we have OUHSC places OKC in the top cities in patents issued.

One thing that hurts us is we are capital-poor. With the exception of BOK, there are not a lot of large banks HQ here. A lot of the medical and energy stuff is self financed. I imagine a large part of it has to do with the fact that the venture capital movers and shakers in Boston, NY, SF, etc. cannot fathom anything good coming out of flyover country. It wasn't too long ago that for its size Texas was pretty capital poor as well. This may be something that the state may want to fill the void, although it may be difficult with the budget situation and current tea party fervor gripping the state capitol these days.

[PennyQuilts]

OKC isn't a hub which is why it is harder to fly in and out of but it is very close to Dallas and that helps. My husband telecommutes from home in OKC with headquarters in DC. They approved OKC as his home office because not only was it in the center of the country (his agency is nationwide), it's a cinch to get to Dallas. Being in the center of the country makes it easy to get to anywhere in the country via Dallas, Denver or Chicago. In fact, he can frequently get there sooner than from DC. He is in the aviation business and has been to just about every major airport in the country, many, many times - and most of the medium sized ones. He loves Will Rogers because it is so easy. And I can tell you that picking up him and dropping him off is a breeze compared to DC or NYC.

[cjohnson.405]

I find the question strange because 80% of the people I know in Edmond own their own small business. As a native Texan, my impression of Oklahoma has been that Oklahoma is very entrepreneurial. (I don't mean for this to become an Edmond vs X discussion.)

I recently moved from the Dallas area to Edmond. Where I moved from (Arlington and McKinney), maybe only 5% of the people I knew were entrepreneurs. It seems like nearly everyone there works for a big company. I think the issue brought up by the OP is just a function of size. Texas has nearly 10x of the number of people in Oklahoma.

For comparison sake, similar sized metros are:
Austin - 1.7m
Providence - 1.6m
Nashville - 1.6m
Virginia Beach - 1.6m
Milwaukee - 1.5m
Jacksonville, FL - 1.3m
Memphis - 1.3m
Louisville - 1.3m
Richmond - 1.2m
OKC - 1.2m
Hartford - 1.2m
New Orleans - 1.2m
Buffalo - 1.1m
Raleigh - 1.1m
Birmingham - 1.1m
Salt Lake - 1.1m
DFW - 6.3m

I have travelled and spent time in most of these places and I think OKC stacks up very favorably. OKC definitely has the most positive PR going for it right now.

[Pete]

In terms of major retail and restaurants, Hobby Lobby, Mardel, Braums and Sonic all started and are still based in OKC.

And as far as big companies and major employers besides oil & gas (CHK, Devon, SandRidge and others) we have Paycom, Express Personnel, American Fidelity and MidFirst Bank, all of which are large, growing and home-grown.

OU is doing some great things at the Research Campus near Loyd Noble. They are combing university-based teaching and research with private enterprise. In addition to the massive and impressive National Weather Center, they are also in the process of moving the undergraduate programs of biology and other life sciences to that area and at the same time building and leasing several large office buildings to companies that are partners in research in development.

Similar projects have been going great guns at the Health Sciences Center as well.


There is actually a pretty good base of entrepreneurial companies and I've long said that for any city to be a leader in this area, there needs to be a major research university nearby -- see the Silicon Valley, the Silicon Triangle, Austin and most big cities.

OKC & OU -- and to a lesser extent OCU and UCO -- need to forget a deeper relationship. All would benefit greatly.

[dcsooner]

All,
I really am encouraged by all the comments being made. My intent was not to disparage my home State, but to generate the kind of civil discourse that is taking place. Sounds to me like we are on the right track and with a few more years of maturity we could very well be the new frontier for innovation and new business growth. Thanks to all for chiming in

[Pete]

I think things are on the right track but there is certainly more that can be done, especially what I mentioned about OU. Relationships between cities and colleges are circular and symbiotic: school feeds quality graduates to town, graduates build business to employ more graduates, city grows and becomes more interesting to young creative people, more of the universities grads find work close by, school reputation greatly enhanced by high placement and success of grads, etc., etc.

More than anything entrepreneurship is fostered in a creative, vibrant, progressive climate... And that means all the way around in terms of business and quality of life. As OKC continues to improve on these fronts we'll see more and more new businesses.

[jonno]

Hopefully this will help address some of the original poster's concerns as well:

From the website http://entrepreneurship.okstate.edu

Entrepreneurship is a life philosophy that the
School of Entrepreneurship at Oklahoma
State University is committed to spreading
through research, classroom instruction and in
the field. Through our first-of-its-kind School of
Entrepreneurship, faculty, students and staff
across the OSU campus have a home for their
entrepreneurial ways. We balance a 32-course
curriculum with a challenging mix of experiential
learning opportunities to create total
student immersion. The School includes:
• Major, minor, MBA concentration & Ph.D.
in Entrepreneurship
• Technology Entrepreneurship Initiative
• The Creativity Institute
• Student start-up incubator
• Entrepreneurship & Empowerment
in South Africa
• Arts and Music Entrepreneurship
• Entrepreneurial Mentor Program
• Riata Internships
• Riata Business Plan Competition
• Disabled Veterans Entrepreneurship Program
• Native American Initiative
• Entrepreneurship Dormitory
• INSPIRE: The women’s entrepreneurship
event
• Experiential Classroom
• and much more
Come change the world with us!

[Snowman]

I often read on this forum of our desire to attract businesses of all types to OKC. When I research many of them to determine where they were started, many resturants, IT and other stores are started in Texas.

Oklahoma generally rates well as doing good with start ups and having good conditions for them but since we are 28th in population even a statistical advantage will not give a numerical advantage in number of companies vs states like New York, Texas or California that have 10 to 12 times your population. Some of numbers of attracting businesses from Texas may also come from it is easier to get regional businesses, more likely to be doing so since outside of high end/very niche if they are considered national they probably already have one here or something very like it.