Will investing in women entrepreneurs ensures economic recovery?

The world economy is facing an unprecedented crisis due to COVID-19, impacting entrepreneurs, and firms across every sector. Women founders (defined as all entrepreneurs who identify as female) face unique challenges. Critical but fragile, nascent gains made by women founders and funders at significant risk of being eroded by the global pandemic. Continue Reading

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Here is a shoutout to those entrepreneurs who give it their very best…

Today I wanted to talk to you a bit about my entrepreneurial journey and the three qualities every entrepreneur needs to succeed.

I launched my nylon and Velcro surfer wallet business in 1976. Two friends and I started it from scratch, part-time, while working full-time for Xerox. 

I knew I couldn’t stay with Xerox for long because the business was beginning to take off and required more and more of my time.

For me, the hardest part of becoming an entrepreneur and starting a business was dealing with what my friends, family and coworkers would say or think

That was the hardest job of all.

I can still remember telling a few of the people at the office that I would soon have to quit my job at Xerox and run the surfer wallet business full-time. “You’re crazy!” said one of the more senior salespersons. “You’re going to fail.”

“You know how many people want to work for Xerox?” said another senior salesperson. “You have a great job, great benefits, good pay and lots of promotion opportunities. If you keep your nose clean, someday you could be a sales manager. Why would you risk losing such a great job?”

You’ll be back,” said another salesperson. “I’ve seen countless people like you. 

People who think they’re hot shots. They leave the company, fail and come back with their tail between their legs… if they have any tail left.”

The group then laughed with that comment and went on talking about the company’s new copier and who was going to win the baseball game that night. I realized I had talked to the wrong people about my business and about my dreams. I was talking to people who would pull me down rather than push me up.

The thing is, entrepreneurs have a different mindset.

How many times have you heard people say some of the following statements?

  • “I wish I could quit my job.”
  • “I’m tired of going from job to job.”
  • “I wish I could make more money, but I can’t afford to quit and start all over with a new company. And I don’t want to go back to school and learn a new profession” and so on… 

Deep down, many people want more than they have in life, not just more money, but also more freedom, more control, and more happiness.

Entrepreneurs are able to not just acknowledge these feelings, but to also do something about them. They really DO quit their job to follow a dream, and they don’t look to another job to bring the fulfillment they’re looking for.

In short, they have a different mindset—and they act on it. That’s exactly why they succeed

If you’re thinking about starting your own business, I recommend learning the same entrepreneurial skills my rich dad taught me and that I honed while working at Xerox. 

Let’s get into it…

Skill #1: Overcoming Fear

Learning to sell was extremely important for me. 

It helped me overcome my fear of rejection and communicate the value of a product and a service. 

If you want to start your own business, you will need to be able to overcome many fears and in order to gain traction, you will need to be able to communicate why what you’re doing brings value, both quickly and expertly. 

This applies to future customers, investors, partners, employees, and so much more. No one follows someone who clearly is afraid. 

No one buys from someone who is afraid. Overcoming fear is essential to success.

If you would like to showcase your idea here, just email us and we will publish your video showing what you can achieve.

Entrepreneurs Who Give It All

Many people want to be an entrepreneur, but the question is, how do they do it? What sets an entrepreneur apart from others? What can we learn from entrepreneurs who have given it all? Here are some tips. You may be able to help someone else succeed. Identifying the obstacles entrepreneurs face, and putting the right strategy into action, is essential for achieving your goals. There are many entrepreneurs who have taken the advice of other business owners and turned them into reality.

One common struggle faced by entrepreneurs is having a boss. Some entrepreneurs feel like they’re suffocated by their bosses, and they dislike their lack of creative freedom. However, having their own boss means they’ll have more freedom to pursue their dreams. Ultimately, success comes from the desire to do things their way, not those of their employers. But in addition to their motivation, entrepreneurs must be resilient enough to continue working on their ventures even when times get tough.

An entrepreneur has a desire to change the world. This could be a new graduate trying to build a resume or a parent who lost a job. The need to change the world inspires entrepreneurs to take action. They see themselves as their own bosses, and try to gain control over their businesses. In their minds, this responsibility is a huge freedom. That’s why they are so passionate about their work and their purpose.

Moreover, many entrepreneurs practice philanthropy, in which they give to nonprofits without expecting anything in return. In fact, 89% of entrepreneurs give to nonprofit organizations by way of their time and money. This is significantly higher than that of their non-entrepreneur peers. Furthermore, the majority of these entrepreneurs volunteer two or more hours a month. So, it’s not surprising that they are giving more than what they get, but also their time.

Entrepreneurs who give it all are not afraid to take the initiative. They often do so because they see a need and take action to solve it. Similarly, entrepreneurs who have a passion for solving problems and developing innovative economies of scale and scope may also be entrepreneurs. In the case of Rebecca Matthias, a seven-year-old entrepreneur, the concept of a business is not as difficult as it sounds. In 1982, she took an idea that was easy to solve and built it into a global brand. Her company now has over 165 stores and generates over $59 million in revenues.

Another tip is to develop new skills. Many entrepreneurs are serial innovators and constantly develop new ideas and processes. They got into business because of their desire to innovate and improve. They embrace change as it helps them improve their businesses and their leadership. In this way, entrepreneurs will have the opportunity to do more of what they love and less of what they hate. They’ll be able to build a better company and a better life.

Entrepreneurs who give it all have a vision and a plan to achieve that vision. They know who to approach and who to partner with in order to reach their goals. Entrepreneurs often lack an internal support system, and their networks of peers and investors can help them reach that goal. If they don’t have a strong network of people, they’re not likely to succeed. A great entrepreneur is a good leader who nurtures relationships and surrounds himself with people who share the same vision.

In addition to being creative, successful entrepreneurs should prepare themselves for failure. They don’t let fear hold them back. They view failure as an opportunity to learn and grow. Many of the hypotheses they test will prove to be wrong. Some ventures won’t make it. However, embracing failure is key to success. You should learn to accept that mistakes are inevitable and not the end of the world. These mistakes will make you a better person.

When seeking funding, entrepreneurs often fail to plan ahead. A proper plan should include the resources necessary to finance the venture. Entrepreneurs should determine their target market and decide on the best funding method. If you can’t find investors to help you, crowdfunding may be the answer. Many crowdfunding sites, like Kickstarter, allow entrepreneurs to raise capital through the public, while offering them equity in the company. While this method is not suitable for every new business, it can be a great way to raise funds.

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Validating a business is hard and there are people everywhere offering different models on how to do it. Kenny Cannon has worked with over 200,000 people over the past 12 years and has been validating business ideas, both his own and his clients, since 2007. This simple process, if followed, will show you how to … Read more

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