Trending Small, Impacting Big: What Today's Entrepreneurs are Teaching us

Small businesses may be “small” in name, but their impact on the U.S. economy—and on the lives of the people who build them—continues to grow in powerful ways. As Dr. Shanda Gore explored on episode #2 of the PinLeader Podcast, “Trending Small but Impacting Big," entrepreneurship is not only rising but reshaping how people think about work, identity, and long‑term success.

Dr. David Strukel

Her guest, Dr. David Strukel, current Innovation Entrepreneurship Coordinator at the University of Akron Research Foundation and former Director of the Burton D. Morgan Center for Integrated Entrepreneurship at Hiram College, offered a front‑row view into this shift. With more than 20 years in higher education and deep experience mentoring emerging founders, he sees firsthand how entrepreneurship is evolving.

A Surge in New Business Creation

The numbers tell a compelling story. According to the U.S. Census Bureau, business applications jumped from 3.5 million in 2019 to 5.38 million in 2021, with only a slight dip in 2022. Dr. Strukel sees this reflected in student interest as well:

“We’re having pretty steady numbers, but I think those numbers reflect some of the COVID impact.”

The pandemic forced people to rethink how they work, earn, and create. Many turned to entrepreneurship not just out of necessity, but out of possibility.

The Rise of the Digital Native Entrepreneur

One of the most striking shifts Dr. Strukel observes is how students now approach work. They’re not waiting for traditional career paths—they’re building their own. He shared the story of a first‑year student who launched a custom jewelry business with her parents:

“She has her online store, online presence, and she makes enough money to cover her tuition.”

This generation’s comfort with digital tools, online branding, and e‑commerce gives them a head start. But it also comes with challenges—especially around identity and reputation.

“People will form an impression of you before they even meet you… whatever you say online can be permanent.”

For emerging entrepreneurs, brand and identity aren’t optional—they’re foundational.

Brand, Identity, and the Power of Consistency

As Dr. Gore noted, many new entrepreneurs underestimate how much their brand shapes their business trajectory. Dr. Strukel sees this often with students who blur personal and professional identities online. He emphasizes intentionality.

“Start building who you are, your identity… by the time you become a senior, you can direct people to say, ‘Here are my examples online.’”

Consistency matters. So does clarity. Changing your brand too often—or chasing every new trend—can confuse your audience and dilute your impact.

Learning by Doing (and Sometimes by Mistake)

One of the most memorable pieces of advice Dr. Strukel shared came from a successful alum who now runs multiple businesses.

“Make your mistakes early… it’s a lot easier to recover from a big mistake when you’re in your 20s.”

But entrepreneurship isn’t only for the young. Many people are launching businesses in their 40s, 50s, and beyond. Dr. Strukel himself started a horse‑boarding business later in life—unexpectedly and without the “perfect” plan.

“We had horses on our barn before we even had our LLC in place… definitely not the recommended way to start a business.”

Yet the experience taught him the same lesson he teaches students: commitment matters more than perfection.

“If you have the dream to start a business or a side hustle, please put the commitment into it. You can’t half‑bake it.”

Planning, Costs, and the Long Game

Entrepreneurship requires vision, but it also requires discipline. Dr. Strukel encourages new founders to understand their costs, leverage available resources, and think long‑term.

He shared how his students use seed money to launch real ventures—like Sticker City, a custom sticker business that grew by tapping into campus print‑shop resources.

“Always look at what your costs are. How can you give a really good product for a decent price?”

And when it comes to long‑term investment, he speaks from experience. His own business required a major capital investment—a $160,000 riding arena—paid off over 10 years.

“At year 10… all of a sudden we’re generating serious revenue that goes back to us.”

Entrepreneurship isn’t just about starting. It’s about sustaining.

Working On the Business, Not In the Business

Perhaps the most powerful takeaway came from the same alum who built a thriving doggy daycare and coworking business.

"You want to get to the point where you’re working on your business, not in your business.”

That shift—from operator to leader—is the hallmark of a mature entrepreneur. It requires trust, systems, and the willingness to develop others.

As Dr. Strukel put it, “You want someone to be so good that they might take over your business… you became a great person by making someone successful.”

The Future of Small Business Is Big

Small businesses make up 44% of the U.S. economy, and their influence is only growing. Whether driven by necessity, passion, or the desire for autonomy, people are stepping into entrepreneurship with more creativity and resilience than ever. Entrepreneurship isn’t just an economic engine—it’s a pathway to identity, leadership, and legacy.

Presented by ROAR Productions. The PinLeader™ Podcast is an interview format show that provides effective tips to those that are currently leaders or have a desire to become leaders. A new episode is released every Wednesday.