Entrepreneurship asks “W… « Destination Changemakers
May 19th, 2012Posted in Information | No Comments »
Anita Roddick – Entrepreneurship, Social Justice and Earth Rights …
May 19th, 2012I’ve been meaning to put together this post about Anita Roddick born 23 October 1942. She was the founder of the Body Shop who I was thrilled to meet at her talk/book signing here in Los Angeles in 2004. Notably, this seemingly unsophisticated multimillionaire spoke about how her goal was to give away her money, and how she did not want to die with material wealth. Afterwards, we discussed her work with the Ogoni people of the oil rich Niger Delta and communicated via email upon her return England. She was an obvious systems thinker whose views on human rights, social responsibility, the environment and water issues resonated and have remained influential to this day.
“This is no dress rehearsal. You’ve got one life, so just lead it and try and be remarkable.” ~ Anita Roddick
Her website was an almost daily destination, therefore, on September 10, 2007, it was heartbreaking to be greeted on the frontpage by news of her death from a brain hemorrhage. That day, I wrote the following in comments:
To Dame Anita Roddick – The honorary Ogoni.
With a heavy heart, I heard the news of Anita Roddick’s passing. This is utterly heartbreaking. I was on this site last night to forward the link to her tribute to Ken Saro Wiwa.
Anita did so much to bring light to the plight of the Ogoni and she will be sorely missed. My thoughts and prayers go to her family and loved ones. The world has lost a great visionary and philanthropist. Godspeed Anita. I wish I could witness your dance with Ken Saro Wiwa and the rest of the Ogoni who easily embraced you as one of them. Rest in Peace.
Anita Roddick: Corporate Social Responsibility?
Anita Roddick was a socially conscious entrepreneur and activist who advocated human rights, earth rights, animal protection, fair trade, and ethical consumerism. She worked with indigenous communities around the world, and in the Niger Delta for example, she was made an honorary citizen.
Born in England to Italian immigrant parents, she saw herself as a natural outsider drawn to other outsiders and rebellious types. At age ten, after learning of the Holocaust, her thirst for social justice was activated and she never looked back. After marrying Gordon Roddick in 1970, they opened up their first restaurant, then in 1976, looking to create a means of livelihood for her young family while Gordon traveled for two years, she started The Body Shop.
The Story Of Anita Roddick
Stunningly lovely interview with Anita Roddick telling her story from the pure entrepreneurialism of hand made and labeled products sold in a small store called The Body Shop (between two undertakers) through to the sense of powerlessness in the face of the WTO. Watch to the bitter end, an inspirational moment in the movement that is Fair Trade from the legend that is Anita Roddick.And a serendipitous moment in the rise of the World Fair Trade Organization and the Birth of the Sustainable Economy.
Anita Roddick Interview
I started The Body Shop in 1976 simply to create a livelihood for myself and my two daughters, while my husband, Gordon, was trekking across the Americas. I had no training or experience and my only business acumen was Gordon’s advice to take sales of £300 a week. Nobody talks of entrepreneurship as survival, but that’s exactly what it is and what nurtures creative thinking. Running that first shop taught me business is not financial science, it’s about trading: buying and selling. It’s about creating a product or service so good that people will pay for it. Now 30 years on The Body Shop is a multi local business with over 2.045 stores serving over 77 million customers in 51 different markets in 25 different languages and across 12 time zones. And I haven’t a clue how we got here!
It wasn’t only economic necessity that inspired the birth of The Body Shop. My early travels had given me a wealth of experience. I had spent time in farming and fishing communities with pre-industrial peoples, and been exposed to body rituals of women from all over the world. Also the frugality that my mother exercised during the war years made me question retail conventions. Why waste a container when you can refill it? And why buy more of something than you can use? We behaved as she did in the Second World War, we reused everything, we refilled everything and we recycled all we could. The foundation of The Body Shop’s environmental activism was born out of ideas like these
I am aware that success is more than a good idea. It is timing too. The Body Shop arrived just as Europe was going ‘green’. The Body Shop has always been recognisable by its green colour, the only colour that we could find to cover the damp, mouldy walls of my first shop. I opened a second shop within six months, by which time Gordon was back in England. He came up with the idea for ‘self-financing’ more new stores, which sparked the growth of the franchise network through which The Body Shop spread across the world. The company went public in 1984. Since then, I have been given a whole host of awards, some I understand, some I don’t and a couple I think I deserve.
Businesses have the power to do good. That’s why The Body Shop’s Mission Statement opens with the overriding commitment, ‘To dedicate our business to the pursuit of social and environmental change.’ We use our stores and our products to help communicate human rights and environmental issues.
As the Body Shop grew, Anita continued traveling and campaigning for human and environmental rights.
In 1993 I met a delegation of Ogoni people from Nigeria. They were seeking justice and reparations against the giant oil multinational Shell that was ravaging their lands through oil exploration and production. Working with other NGOs, we turned their campaign into an international cause celebre. Tragically, the Ogoni’s key spokesperson, Ken Saro-Wiwa and 8 other Ogoni, were executed in 1995 by the Nigerian Government. But our campaign continued and eventually 19 other imprisoned Ogoni were released. In 1997, after 4 years of unrelenting pressure, Shell issued a revised operating charter committing the company to human rights and sustainable development. A year later, they launched their ‘Profits and Principles’ advertising campaign declaring their recognition of the interests of ‘ a much wider group of stakeholders in our business’. I like to think we had a hand in getting Shell to think about what it really means to be a corporate citizen.
In September 2001 I joined forces with The Body Shop and Greenpeace, and many thousands of other organisations and individual consumers in an international campaign against Exxon-Mobil (Esso), the world’s largest oil and gas company, and ‘No 1 Global Warming Villain’. This is the company that refuses to accept a direct link between the burning of fossil fuels and global warming, and that has turned its back on investing even a single penny on renewable alternatives, such as wind and solar.
For Anita, it was all well and good to expose human rights and environmental issues, but she was also keenly interested in presenting solutions that were fair and sustainable.
For me, campaigning and good business is also about putting forward solutions, not just opposing destructive practices or human rights abuses. One key area where my business and personal interests naturally combine is through The Body Shop community trade initiatives. It all started in 1989 when I attended the gathering at Altamira of Amazonian Indian tribes protesting against a hydro-electric project which would have flooded thousands of acres of rainforest, submerging native lands. There had to be something practical I could do to help these people preserve their environment and culture. Nuts? Specifically brazil nuts, which the Indians gathered sustainably from the forest and which when crushed produce a brilliant oil for moisturising and conditioning. This first trading relationship with forest people, unused to any real commercial activity, was fraught with pitfalls and dangers. But 13 years on we’re still trading with them and have even set up a Green Pharmacy project producing remedies based on traditional knowledge of forest plants – reducing dependency on inappropriate and expensive modern pharmaceuticals. Every year I travel to a number of our projects. In November 1999 I visited our long-term partners Teddy Exports in southern India and GPI in Nepal and our new partners, the Chepang indigenous people who grow herbs for our Ayurvedic range. In January 2001 I visited the 130 sesame seed oil farmers in Nicaragua who receive a fair and stable price for their seed. As a result the farmers have built up a sustainable business that as well as offering marketing clout, runs a subsidised store, a credit union, and employs a Cuban agronomist specialising in organic methods. The deal with The Body Shop isn’t going to make the farmers financially rich, but it does enable them to maintain their chosen way of life and through co-operation achieve autonomy. I’m immensely proud of our efforts to make fair or community trade relationships more mainstream. The Body Shop now has 29 such projects in 23 countries and we aim to develop more.
After leaving the Body Shop, Anita continued her fight against injustice, and in 2000, published her autobiography, Business as Unusual and the next year, edited a collection on globalisation and the power of the World Trade Organization.
With the launch of her personal website in 2001, She started brainstorming imaginative ways of using media and technology as tools for activists to connect, collaborate and create community around shared ideas.
The most exciting part of my life is now – I believe the older you get, the more radical you become. There’s a Dorothy Sayers quote I love, “A woman in advancing old age is unstoppable by any earthly force”. In November 1999, I flew to Seattle to speak out against the role of the World Trade Organisation and witnessed the ‘Battle of Seattle’. I’m fascinated by the publishing industry: in 2000 I published my autobiography Business and Unusual and in 2001 I edited Take it Personally, a collection of provoking thought pieces to challenge the myths of globalisation and the power of the WTO.
I launched my own website www.AnitaRoddick.com in 2001 and an activism portal www.TakeItPersonally.org in 2004. I am overwhelmed by the potential of the web to link like-minded people and move them to mass-action. We are excited to experiment in other media too — perhaps subversive billboards, or a television program, or other print projects. As someone once said, we are only limited by our imaginations.
Two of my greatest passions now are the campaigns we’ve undertaken as part of Anita Roddick Publications. One focuses on sweatshop labour by multinational corporations. We’ve joined forces with the National Labor Committee on this and helped foster creative resistance that has made some noticeable inroads. And we’ve joined with a group of human-rights activists to free the American political prisoners known as the Angola Three. These three men, who were black political activists in the 1970s, have served over 35 years in solitary confinement in Angola prison for crimes they did not commit. It is my intention to do whatever it takes, for as long as it takes, to see that their story is told and they are set free.
With The Body Shop and Anita Roddick Publications, I will continue fighting for human rights and against economic initiatives and structures that abuse and ignore them. That’s a tall enough order to keep me busy for the next 30 years.
Certainly, were she alive today, Anita would have harnessed the power of social networks to call attention to global issues and to rally activists from all corners and persuasions, around the common purpose of working together to find long-term solutions.
We may no longer hear the voices of great women like Anita Roddick and Wangari Maathai, yet, stories of these courageous and selfless souls have never been more relevant and will continue to inspire action for the greater good.
I am honored and deeply humbled to have met both amazing women – beacons of hope in the midst of doubt and apathy – from whom I’ve learned that entrepreneurship, social justice and earth rights are not mutually exclusive.
Anita Roddick, Body Shop Founder, Dies at 64
www.AnitaRoddick.com
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A Suitcase and my Drums: Lynette Claire (Tacoma Entrepreneurship …
May 16th, 2012
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Ateneo Digital: Entrepreneurship from the Americas | Bractlet
May 16th, 2012by Miguel Angel Molina
Some companies in Start-Up Chile, such as Aventones and BookBottles, are all about Web technologies, eCommerce, and using social media platforms. For them, software is their core development and innovation. Others like VOZ and Escapes With You, help you discover and experience the American continent in amazing new ways. Then there are hardware focused teams, looking at new approaches to complex problems in areas such as environment, life sciences and energy infrastructure. Bractlet is one such company, and is looking at energy consumption in a completely different and innovative way. They give costumers complete control and knowledge over every outlet in their building, helping reduce consumption intelligently.
Bractlet
The Bractlet team believes in creating products that help preserve the environment and address the growing energy demands on our planet. To the founders, Alec Manfre, Matt Lynch, Brian Meier, Ramu Annamalia, Catherine Manfre, and Travis Wooten, preservation means embracing a responsibility to ensure a secure and sustainable energy future for coming generations. Read more…
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European Entrepreneurship Foundation » » Peter B. Záboji » First …
May 13th, 2012How we got started
Participants of our accelerator courses got used to the casual networking event after the Monday class. So, we said let’s meet during the time where there are no classes. I borrowed the idea from my dear INSEAD friend Julie Meyer who made her first million by launching First Tuesday at the beginning of the dot.com revolution in London.
What is the objective?
First Monday events are supposed to serve as a networking platform, where startup entrepreneurs, wannabees meet business angel, venture capital guys and serial entrepreneurs who typically become entrepreneurial investors themselves. The objective is to create a nucleus of an ecosystem for business creation out of Budapest.
EEF – HVCA
3 years ago, when we started with entrepreneurship programs in Budapest we were laughed at. The environment has dramatically changed since. Pitch competitions are mushrooming, every month a new incubator opens its doors. On and off, we even get a story in the media (as of lately). On the other hand, we see and hear very little about the actors and activities of Venture Capital. Thank God, the new board of HVCA www.hvca.hu, their professional organization is very active in educating the market. So we decided to join forces in this undertaking.
First Monday Feedback for 7 May
“This is the place where you can meet smart and talented people on the first Monday of every month – that is the best summary I heard from one of the non-Hungarian participant. This comment echoes my sentiments.”
“I really like the idea of bringing together young entrepreneurs with investors as during such events they can discuss freely about possible mutual business opportunities”
“Another great mix of new faces and old friends, made some really good new connections”
“This was the best First Monday Event so far. Excellent people, perfect venue and catering. 70 people is great, and I think even 90 would fit.”
“All First Monday events are great – in fact, all EEF events – but this one was especially good for me. I’ve met many familiar and many unfamiliar faces, it was uplifting to connect with old friends and make new ones.”
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South Korea, a New Social Entrepreneurship Hub of Asia | TechNode
May 13th, 2012Tech start-up incubators have sprung up across the world, in a concerted effort to uncover the next Google or Facebook and make a lot of money. But in Seoul, the government is driving a big push towards funding and incubating not just tech start-ups, but also those that have a socially good element to them.
On the surface, Seoul looks and feels like a great place; it’s clean, well organized, has delicious food and great nightlife, addictive KPOP and good looking people. But below the surface, like every other country, Korea does have many social problems. One of the biggest problems is very high youth unemployment, which now stands at 8.3% for people below 30 years old. High youth unemployment is a result of a cycle that is hard to stop. Many graduates without jobs, create more competition for jobs, making young people frustrated and forcing them back into education which is getting more expensive, causing more stress because they can’t afford to pay it off, plus Korea is already an expensive country to live in.
This of course creates a lot of headache for the government to manage. In a creative way, the government is looking to other young people with an entrepreneurial spirit to solve these problems by establishing incubation centers. On offer are funding grants of around 30M Korean Won (USD$30K) per enterprise per year, office space and other services like mentoring and education. Social enterprises also enjoy favourable tax treatment and bank loan interest rates.
Beyond solving the social problem of high youth unemployment, the South Korean government has a responsibility to undertake more social projects. One reason is because South Korea is a part of the OECD (Organisation for Economic Co-operation and Development) group of countries and has a quota to meet for number of social enterprises created. Another reason is that once upon a time, South Korea was a poor country. But after the recent four decades of rapid economic development, and some neglect for social welfare, it is time to make up for it. In some sense it has graduated from poor to rich country and now feels the need to give back to society.
Such incubators are popping up all over Korea. There are five alone in Seoul and around 21 in Korea in total.
In Seoul, I had the opportunity to visit one center called Social Enterprise Incubating Center. I chatted to Kyung Seok Yang from Social Cube, who operates the center. She explained there are three main types of social enterprises. One is those aimed at job creation, especially for South Korea’s youth. Secondly, there are those that employ people with disabilities or the elderly. Thirdly, it could be a mix of both. One example is an enterprise called WeCAN, which employs disabled people to make cookies and the profits go back to disabled people.
Another recent example is an enterprise called Cizion. Similar to Disqus, it is a social comments manager for blogs. At first I was confused how this could be a social enterprise but it became apparent. Since South Korea has such a strong entertainment industry, many people like to talk about celebrities like singers and actors. But some of this chatter is gossip and rumours which have a detrimental impact on the minds of celebrities who feel ashamed, leading some to even commit suicide. Therefore Cizion aims to filter out untrue comments, by creating a blacklist of commentors through Facebook or Twitter.
While at the Social Enterprise Incubation center I chatted with two start-ups being incubated there currently.
The first was Life Seed, a group aiming to support baby sitters. The problem with child services in South Korea is that the quality of government support is rather low quality and there is poor monetary compensation. Baby sitters in South Korea are mainly students, social workers or elders and many are untrained in how to properly handle babies or young children. Therfore Life Seed wants to provide an education system, teaching sitters how to baby sit and how to manage long term stress. To also create a support structure, the enterprise wants to create an offline community that can share and learn from each other. The mission of Life Seed is to change the eco-system of child care where the government, teachers, parents and sitters can work together to improve the system. Life Seed is a four person team led by Han Kyung-Jin and Choi Eun-Joo.
The second was InnoCrowd, a freelancing platform for designers in South Korea, similar to Elance. Just walking around South Korea’s young hot spots like Hongdae, it is clear to see the groundswell of design talent. However, high youth unemployment is making it difficult for these people to get jobs or projects, meaning there is an excess supply of talent. To better utlize South Korea’s talent, InnoCrowd wants to connect creators from the graphics, engineering, UI/UX and Product fields to find willing demand from outside Korea like Japan, China and Taiwan. Businesses with projects can post a project, designers can apply to work on the project, and then the businesses can review and select the designers they want. Once selected, InnoCrowd will allocate Project Managers to oversee the completion of the project for a fee. InnoCrowd will charge per project and its size. Currently InnoCrowd is in the development phase and will launch in July in open beta. Co-founder and CEO, Sean Park leads a team of four and is aiming to secure government funding for arts and culture social enterprises. South Korea’s government wants to back such projects because they want their small to medium sized companies to be more internationally competitive and design competent.
One of the biggest challenges for social enterprise incubators is funding. Unlike more transparent and easy to understand business like manufacturing, companies and venture capital firms don’t understand how to value social impact and therefore don’t know how to justify how much to give. Traditional manufacturing companies use a % of expenditure model to figure out how much money they need, but of course this can’t be applied in the same way to social enterprise start-ups. Such a challenge remains a bottle neck in really promoting social or non-profit organizations.
In some sense, China is undergoing the same path South Korea is. Now experiencing a period of unprecedented economic growth, many poor and marginalized people on the sidelines are being forgotten. China can learn from South Korea’s experience and balance economic growth with sustainable and equitable social welfare. More emphasis should be put on social entrepreneurship rather than start-ups that can simply raise a lot of VC funding and have a big exit.
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Nurture entrepreneurship Minister Lastupdate:- Thu, 10 May 2012 …
May 10th, 2012Srinagar, May 9: Minister for Higher Education, Labour and Employment Abdul Gani Malik today impressed upon the officers of Labour and Employment to ensure that the motivated and trained prospective first generation entrepreneurs are nurtured effectively.
The Minister was addressing a review meeting of Sher-e-Kashmir Employment and Welfare Programme for the Youth (SKEWPY) here today.
Director J&K EDI M. I. Parray, Chief Executive Officer, J&K Buildings and Constructions Workers Board Syed Muried Hussain, Vice President J&K Bank Nazir Ahmad, Deputy Director Central Employment and Assistant Director (P&S) Labour and Employment were present in the meeting.
He said SKEWPY offers Entrepreneurship Development Programmes (EDPs) which apart from sensitization, training and consultancy provides an incentive in the form of non-refundable Seed Money to the eligible Prospective Entrepreneurs to start their ventures under Seed Capital Fund Scheme (SCFS).
He said since the launch of the SCFS, out of Rs 50 crore earmarked for the purpose, Rs 41 crore stands released for disbursement through J&K Bank among 562 entrepreneurs of the state.
To ensure equitable distribution of Seed Capital Fund, Minister directed the EDI to sponsor minimum one case from each panchayat of the state.
Referring to security of future VSA holders, Malik issued necessary instructions to District Development Commissioners and District Employment and Counseling Centres (DECC) to impart training and awareness to them about welfare schemes through conferences and seminars so that after sometime, VSA holders become entrants in the field of entrepreneurship.
Malik exhorted for speeding up pace of DECC so that the functioning of these centres is streamlined and their services are improved.
Chief Executive Officer, J&K Buildings and Constructions Workers Board Muried informed the meeting that till date 69,000 construction workers have been registered by the Board while as Rs 117 crore have been deposited as Cess amount. He said Rs 5 crore were distributed among workers as relief and a target of Rs 22 crore have been fixed for the current fiscal to be distributed among construction workers.
Earlier, the Minister presided over a meeting of senior officers of Higher Education Department. Commissioner/Secretary Higher Education, Mrs Tanveer Jehan, Director Colleges, Dr. Muqbil Chisti, Chief Engineer, PWD Kashmir, Chief Architect, J&K, Munir Ahmad Khan, Nodal Principal Kashmir division, Senior Architect attended the meeting.
The meeting discussed the matter related to construction of 22 new college complexes across the state and their designs.
Malik said that since land for most of the new colleges has been identified and acquired, there is dire need of starting construction work.
The Minister asked Chief Architect J&K Munir Ahmad Khan to formulate a master plan to complete the construction work in three phases and with the completion of each phase, functioning of college should be started in addition of other curricular activities of the college.
Malik directed for formulation of three types of master plans like summer zone, winter zone and winter desert zone for submission to cabinet for approval.
The meeting was informed that Rs 8 crore have been earmarked for construction of each college, 11 colleges are coming up under state sector and 11 colleges under centrally sponsored scheme.
Lastupdate on : Wed, 9 May 2012 21:30:00 Mecca time
Lastupdate on : Wed, 9 May 2012 18:30:00 GMT
Lastupdate on : Thu, 10 May 2012 00:00:00 IST
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Miami's Ashoka office to help build social entrepreneurship in South …
May 10th, 2012
After spending nearly three years boosting social entrepreneurship in the Americas, Ashoka’s Lorena García Duran is setting her sights on South Florida.
In addition to launching the Miami office for the international group promoting social entrepreneurship, García Duran is busy preparing for its upcoming Miami Ashoka summit, scheduled for May 9-11. The event will bring together business people, journalists and the social sector to network and collaborate on ideas. The conference, supported by Knight, looks to connect social entrepreneurs based in South Florida like Connie Siskowski, whose Palm Beach County-based organization helps empower students who are the primary caregivers to elderly, ill or disabled family members.
Today’s opening session “The Future of Social Entrepreneurship“ will be livestreamed starting at 1:30 p.m. EST. The session features Bill Drayton, CEO of Ashoka, Alberto Ibargüen, President and CEO of Knight Foundation and Matthew Bishop, editor of the Economist.
In a conversation with Knight, García Duran described the opportunities for changemaking in South Florida.
Knight Foundation: Why did Ashoka decide to open an office in Miami? What were some of the opportunities?
LD: Our researchers gave us four cities to explore: Chicago, L.A., New York and Miami. In Miami, we found a region that not only had significant ties to Latin America, but also had a broader perspective and more potential for impact. Of course, South Florida is more than just Miami and we found that the larger community was becoming a hub of successful young business people from all over the world. There were strong ties to the Latin American community, the Jewish community and the Indian community. When we started meeting and connecting with successful business and professional people, we learned they wanted to be part of change, but that they weren’t necessarily attracted to common philanthropy or charity, even though they wanted to be involved in social change. We started to build that hub of people as we continued to learn about what was really going on in the community. We found the community was an interesting hub that has huge potential for growth. We want to grow that hub, to connect successful business entrepreneurs and professional people with the concepts around social entrepreneurship.
What do you hope to accomplish here?
LD: One of our concrete goals is to leverage and scale the hub of business and professional people that are getting engaged with social entrepreneurship in the community that I just described. We’ve already tapped into a group of people who are committed to helping solve social problems, both in their own communities and globally. For example a program run by Connie Siskowski, The Caregiving Youth Project, is the only comprehensive program for youth caregivers in the United States. In Palm Beach County, the program assists young people who are caring for ill, aging or disabled family members complete their education. Another entrepreneur, Felipe Vergara is creating an efficient market for investing in the future of talented young people. He’s helping to introduce a new set of financial products – known as human capital contracts – to draw private capital toward the higher education sector. He’s applying a simple principle, that profit attracts capital, to the field of education finance and working with a company which designs and manages social investment funds to do it.
What can people expect from the upcoming summit?
LD: We expect it to be action oriented, the participants will share stories and models of what’s working in their countries. We want to leave the conference with concrete steps and ideas for how to elevate and globalize the connection between the business and social sectors. Hopefully, it will be the beginning of a tipping point for a new era of social change.
And after the summit is over? What are the next steps?
LD: We hope to get to work on implementing those ideas. We expect the summit will help us build that solid connection between those two sectors. We’re just focusing on getting the business people and the social entrepreneurship people together. We believe that its those sectors that will mark the next era of social change. That’s the vision of what we’re trying to accomplish.
Are there any specific projects or ideas you’ll be working on over the next year?
LD: Social entrepreneurship is a new concept for a lot of people so we’re trying to share it with the community. We’re also exploring how to harness empowerment and use the empathy of young people in South Florida. We want to carry out the vision of Ashoka, where everyone is a changemaker. For example, it’s likely we’ll bring a social entrepreneurship model here based on what Eric Dawson created with “peace first.” It’s about helping kids become peacemakers, it could potentially help Miami become a launch place for a national peace prize for kids. We’re also looking to places like Overtown and Liberty City. We hope to work with those already in those communities to help tackle problems they’re facing.
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plentyofuniquedates.com – The Via internet Entrepreneurship …
May 7th, 2012Posted in Information | No Comments »
Ten Rules of Successful Entrepreneurship | Visionwiz
May 7th, 2012 By Martin at May 7, 2012 | 8:07 am |
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As we recover from some tough economic times, more and more people seem to be turning to entrepreneurship as an alternative to traditional employment. I applaud this trend, but caution all of you thinking this direction to approach entrepreneurship with your eyes wide open. It is not for everyone, as the entrepreneur’s path is fraught with challenges.
Many experts have tried to clearly lay out the criteria for success in a way that allows you to judge your own situation and your own temperament, and make a rational decision before starting down this path. One of the best summaries I have seen is a recent book by Bill Murphy, Jr., titled “The Intelligent Entrepreneur,” which outlines the ten rules of successful entrepreneurship, as follows:
Make the commitment. Entrepreneurship can be learned. But you have to be committed to the process of building your own thing and the act of creating something, rather than just coming up with an idea. It will likely take several ideas, with the learning process of failing on a couple, before you can call yourself a successful entrepreneur.
Find a problem, then solve it. Rather than finding a new idea first, try finding a problem first. Problem solvers make successful entrepreneurs. Idea people are dreamers, who often don’t enjoy the hard work of a solution in a specific timeframe to make money.
Think big. Thing new. Think again. In other words, make sure your solution will scale up. Professional investors will tell you they look for business plans that can credibly project revenues of at least $20M within five years, or they won’t justify an investment.

You can’t do it alone. Have a support team of people you know and trust. An idea person and a problem solver make a great team. Successful entrepreneurs have to work well with people, whether they be partners, investors, employees, suppliers, or customers.
You must do it alone. But the dichotomy is that there are things that you have to do alone. “The buck stops here.” You have to be decisive, accept responsibility, and provide the vision. Vision is not a group-think activity. Sometimes decisions have to be made quickly, and with very little hard data, so you need the confidence in your gut.
Manage risk. Without risk, there can be no innovation. Not every idea can, or will, be a winner. Fear of failure will kill innovation, but reckless disregard for risk will kill a business. The successful entrepreneur is able to find the balance between these two extremes.
Learn to lead. In a startup, the entrepreneur leader has to do two things. First, drive the business creation process, and secondly, inspire all the others. The others include the rest of the team, investors, and customers. That means hands-on leadership and effective communication.
Learn to sell. Don’t believe the old myth that “if we build it, they will come.” Selling is a learned skill, and takes effort, just like building a product. Everyone in your startup, especially the entrepreneur, needs to understand sales, and needs to be a salesman.
Persist, persevere, prevail. Experts say the prime cause of failure in business is quitting too soon. The successful entrepreneur never gives up, and uses creativity to overcome all obstacles, including personal, financial, and technical ones.
Time, not money, is the key resource. Entrepreneurship is a lifestyle, not a job. Be prepared to play the game for life. There are no quick fixes, or quick get-rich solutions. Learn to manage and balance your time; it’s the one thing that belongs to you alone. Great entrepreneurs have a life outside of work, and find time to give back.
Reporter Bill Murphy compiled his book based on three real-life success stories of Harvard graduates, all of whom proved the points by their failures as well as successes. There is no magic here, but I believe these rules can shorten the learning curve and increase the success rate for every budding entrepreneur. They can also help you be happy and have some fun.
By
MARTIN ZWILLING
CEO & Founder of Startup Professionals, Inc.; Callaman Ventures Board Member and Executive in Residence; Advisory Board Member for multiple startups.
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