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Sun, The (Lowell, MA)

March 2, 2002
Section: Business

New LSBAC director: 'It was time to reinvent myself'
VANESSA HUGHES Sun Staff

LOWELL -- Russell Smith has done his time in corporate America and has tested the waters as an entrepreneur and teacher. Now the 56-year-old Rowley resident says acting as director of the Lowell Small Business Assistance Center is his next and perhaps most exciting adventure. The LSBAC, a non-profit group that helps budding entrepreneurs turn ideas into businesses, welcomed Smith as director on Thursday. He replaces Peter Lovis, who left to run a Concord wine and cheese shop in October. Smith is the third director hired since the center opened in 1998.

"I'm really excited to be here. This is a terrific opportunity to make a contribution," Smith said Friday. "This is such a fascinating community, and there is so much to work with."

Smith worked more than 20 years in marketing and sales positions at corporations including Xerox, MCI-WorldCom and Bank of Boston. Eight years ago, he took the plunge and started his own business, an executive search firm called Sales and Marketing Search Inc. based in Beverly.

"Companies and people need to periodically reinvent themselves, and for me it was time to reinvent myself," he said of his experience starting a business. "It turned out to be one of the best adventures of my life, and hopefully this is the next one."

Smith sold his company and began teaching business courses at North Shore Community College and Hesser College in Portsmouth, N.H. He is also vice chairman of Local 411 of the Service Corps of Retired Executives (SCORE), a volunteer group that advises entrepreneurs.

"I was involved in helping people to start businesses, and I just absolutely fell in love with that kind of work and found it rewarding," Smith said.

Smith said he understands the risks entrepreneurs take as well as the common mistakes made. He plans to help clients write solid business plans, determine the viability of their ideas and act aggressively to turn them into reality.

He also aims to take the center's role a step further by helping small businesses that have been operating for a few years but may need help making the next step toward growth.

"I want to reach out to the business community to help with those growth challenges that come along that are just difficult to get your arms around. There's a real contribution we can make to the existing business community," Smith said.

Smith was one of 50 applicants for the job and was chosen for his business skills, passion and personality, said Jim Canavan, executive director of Community Teamwork Inc., a LSBAC partner responsible for hiring.

He hit the ground running last week and is expected to do "great things," Canavan added.

"He has a nice mix of private entrepreneurial experience and a lot of good volunteer experience," Canavan said. "And he has the passion. All those qualities coming together in one person is rare."

Vanessa Hughes' e-mail address is vhughes@lowellsun.com .