New Northern Michigan Institute to end recession with “Magic Dollar” (excerpt)
By Tom Vranich, Editor, The Elk Rapids News (excerpt and interview with Vranich)
Melding his experience as an entrepreneur with a passion for northern Michigan innovation, Elk Rapids based consultant Tom Dolembo has established the New North Michigan Institute to begin economic revival. Starting with his “Magic Dollar” concept, he hopes to help entrepreneurs with a good idea succeed by providing knowledge and financial resources independent of traditional means, especially those associated with the downstate, automobile based economy.
“If we can create 200-300 jobs, we can completely change the landscape,” he told us. “The best I can do is enable a network. It’s not what to do, but how to do it that turns something into action. Can you build a national network? It’s been done in Colorado, Utah and northern California, so why not build it here.”
Beginning with a strategy to offer free help to those who are willing to put up their first dollar towards a new venture, he hopes to help them establish a regional presence to be able to do business with neighboring counties and states, working together with other companies to create a perception that northern Michigan is indeed a great place to do business, as well as a great place to live. (excerpt end)
Interview with Tom Vranich
Today I asked Tom Vranich a few questions about the NewNorth launch. Here are his answers.
What impressed you the most about the NewNorth concept?"
As a successful entrepreneur, Tom is willing to help others from the start to build a viable network, bringing real people to them to build their business. His vision will help them move through hurdles most would find very hard or impossible to navigate without professional guidance.
Do you think NewNorth can work here in Elk Rapids? Why or why not?
There is no reason why it cannot work here, since technology has made the business world “flat,” so it is possible to do virtually anything from northern Michigan without the headache of dealing with big city and corporate challenges. It is also a great place to live and prosper.
What advice do you have for Tom Dolembo, as he starts this new, unorthodox enterprise?
Begin small by helping a handful of prospective start up or makeover companies, building a solid network of resources, grow his web based resources and class offerings to attract people from the region and eventually spread the word throughout the Midwest and beyond.