What Business Would You Start?

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"This is the decade that will be shaped by cheap sensors. Basically, sensors are devices that allow us to put eyes, ears, and sensory organs on computers. The revolution now is machines talking to machines. And I would say, plan for a world where we're no longer alone because there will be machines with rudimentary intelligence working quietly by our sides. We'll all end up not unlike Blanche DuBois in A Streetcar Named Desire, when she says, 'I have always relied on the kindness of strangers.' Well, in this case the stranger is probably going to be a simple little machine with rudimentary communications enabled by sensors."

LOOK AT AGING AND HEALTH

Name: Bob Johnson
Age: 55
Location: Washington, D.C.
Background: Founder and CEO of BET Holdings II Inc., the parent company of Black Entertainment Television (now owned by Viacom)

"If I were going to start a business today, I would start one that's aimed at the growing-older generation: a medical facility that focuses on total wellness. It's a health and leisure product -- almost like a country club -- that you can join. Two things we know absolutely: the population is getting older, and the older population is living longer. If you assume that's the case, what are these people going to do to remain active? If you can ever combine active and healthy, that's a market for you.

"The other reason I like this concept is that I think African Americans in general have a lower life expectancy because they have less focus on and access to health care. So if I start this business and African Americans say, 'Wow, Bob is starting this business in the health-care field, and this is something I'll look at,' that may focus them on being more health oriented, which would increase the life expectancy of African Americans. And so it could be beneficial from both a social and an economic standpoint."

TEACH START-UPS

Name: Terri Lonier
Age: 49
Location: New Paltz, N.Y.
Background: Founder and president of Working Solo Inc., a consulting firm that helps large and high-tech companies connect with the SOHO (small office/home office) market

"Our research shows that there's continuing interest among people in starting their own businesses, but they don't know where to begin. So I'd start a nationwide training center for the self-employed. Think of it as a cross between Sylvan Learning Centers and Starbucks. It would feature in-person centers as well as online programs. A component of the in-person centers would be a showcase for products and services for the self-employed, like computers from Apple, Dell, Gateway, Compaq; software from all the leading vendors -- a place where the self-employed could test-drive things before they buy, as well as network with their peers. I could also see the service's being tied into corporate HR outplacement centers so that as people get laid off from corporations they can go to these centers.

"I envision a standardized curriculum nationwide so people can continue the program if they start it in one part of the country and move away. The training center would feature everything from self-assessment tools (say, asking, Are you a good match for self-employment?), to how to start your business, to how to write a business plan, to how to get funding -- the whole spectrum. The reason it would be both in-person and online: in-person is really needed for the individual entrepreneur-to-be. The face-to-face networking is where a lot of the brainstorming happens, a lot of the reality check. Online would be some self-paced, self-directed learning modules. For example, 'This is the way to do a business plan.' And then the person could come into a center and talk to someone about it. There's a lot of value in a mix of online and in-person.

"The program would offer a certification that would give the person credibility with lending institutions. One of the big stumbling blocks for soloists is when they walk into a bank and the lender asks, 'What do you know about business?' A certificate isn't a slam dunk, but at least it demonstrates you've spent some time learning. Also, there would be some internship opportunities so that people who are just thinking about being self-employed could go work in another small biz to get a reality-based look at the daily operations. For example, if I were interested in running a catering firm, I could go work as an intern with a one- or two-person outfit with the understanding that the labor costs would be less but it would be on-the-job training. The sponsoring business may be looking for employees who are experienced in the field, but it may not have a lot of money to spend on employees. It's a win-win situation."

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