7/7ths: Why Entrepreneurship is About Fractions

By: Marie, guest blogger

For a few years, I worked for organizations that ran economic development programs funded by the Department of Labor, this job gave me ample opportunity to reflect on the importance of meaningful work.  During this time, one of the programs I was affiliated with was a vocational training school on the Salish Kootenai Native American reservation in Montana where they asked me to speak to their graduating class.  Much to my surprise I realized that imparting career advice to the future generation was daunting, so I did what most modern girls would do for inspiration and ideas, I Googled graduation speeches. Imagine that!  After watching dozens of speeches on YouTube, surprisingly, what stuck with me profoundly the most were not the words of Steve Jobs or Bill Gates but the words of a high school valedictorian who had come across the premise for his speech while doing his math homework.

He surmised that most of us are 2/7ths people.  

He declared that the week is comprised of seven days, and that those days are cut into 7/7ths.  Five of those days or 5/7ths of our time, most of us Americans report to offices where we accomplish tasks that require us to use a limited range of the skills and traits that comprise our complete existence, our humor, creativity, compassion, and honesty are often hung up with our coats when we walk in the door. On the remaining two days, or the 2/7ths of the time we call the weekend, we attempt to be complete people, re-engaging all the aspects of our fractured personalities. Therefore, we are whole people only 2/7ths of the time.  

While everyone must define what it means to be a 7/7ths person in his or her own terms, entrepreneurship corresponds uniquely to the ideal of being a 7/7ths person.  

In exchange for foregoing the securities of a paycheck from an established company, entrepreneurs can create businesses, products, company cultures, charities and even empires (think Google’s tech empire) that align with their passions. Often, passions come in surprising and unexpected forms, such as shoes. Blake Mycoskie, founder of Tom’s Shoes, had a passion for travel, fashion, and giving back. His shoe line, TOMS, donates one pair of shoes to someone in the developing world for every pair sold at retail. TOMS currently employs more than 150 people. Blake’s passion for fashion continues with a twist…company culture at TOM’s includes ”Fancy Fridays,” a spin on “Casual Fridays,” where TOMS employees wear typical office attire like suits (albeit with a hipster flair) instead of their usual weeklong wardrobe of jeans.  

In the process of creating businesses around passions, some entrepreneurs amass fortunes, expertise and clout that arguably give them the power to impact the socio-political landscape more than many seasoned politicians.   

Although every entrepreneurial journey is different, and for each entrepreneur that achieves heights, exponentially more fail to achieve greatness, or they simply create mediocre businesses that have  simply failed altogether. Presented with these overwhelming odds, why is it that so many of us feel compelled toward the entrepreneurial journey and exploration? 

Perhaps there is something primal about the pull of stepping outside of the known realm of safety to venture off on your own, relying on your own wit, instincts and talent for survival rather than sacrificing those things that make you a 7/7ths person in exchange for the security of a paycheck and a place in the status quo.  Previously, adventures and risk takers voyaged across the seas, facing astronomical risks and hardship, in conquest of better lives in new territories.  Many of those that achieved their goals were rewarded handsomely, with land and riches that were passed down to their ancestors for generations. Others perished in the pursuit.  

While there is little that is geographically undiscovered, entrepreneurship provides the modern adventurer a platform to face similar challenges on the open market. 

Like the quest for land, the quest for market space requires fierce determination.

Unless you are one of the lucky few that launched a business after college, finding your entrepreneurial niche also almost always requires navigating one major unpleasantry: your 9-5 job. 

However, with a little resourcefulness, you can begin acquiring tools and experience that will help you on your entrepreneurial journey.

6 Week Marketing Strategy Series

By: Toni, Founder Women in Gear

Creating a Marketing Plan is essential to your business success. Did you know that if you write it down, you are seven times more likely to complete your plan than if you didnt write it down?
So coming June 2012 "Women in Gear" will be posting a six week Marketing Strategy Blog Series. Real time strategies for you and your business to follow and use.
Stay tuned for this exciting series dedicated to your business and marketing success.

Cheers

Female CEO ranks expected to swell - 4A's SmartBrief

Female CEO ranks expected to swell - 4A's SmartBrief

Thinking about changing your future? Video to reflect on

Do you have what it takes?

You have the idea; you have the product; you even have the finances to get the ball rolling and start your own business, but do you have what it takes to become a successful entrepreneur, and if you do is that really the direction you want to go in?

I met with a good friend last week who has an amazing idea to solve a tough problem in today’s economy, she knows exactly were her target market is and she has the skills to develop the product. She even has the financial funding to make this product a huge success. But after a few hours of discussing the finer points of getting her business off the ground it occurred to me she still had some reservations about taking the next step in her future of becoming an entrepreneur. I bet you are wondering what could possibly be in the way? She seems to have all the right stuff needed to be free of the boundaries of a nine-to-five job and the product and resources to get moving on her dream.

Then it occurred to me I wasn’t really asking the right questions. I had not been paying attention to some of her answers when I brought up her current profession and the direction she might want to go in. The fact of the matter is she likes her job. She likes her position in the company where she works and she enjoys making her boss happy and getting the accolades that go along with doing a job well done. She even likes the structure of her environment at work and the details that she knows she needs to follow to be successful.

So I have to ask these questions of anyone thinking of becoming a business owner or an entrepreneur.

·         Do you know if you are cut out to work as your own boss in your own business?

·         Do you know if you are capable of the self-motivation needed to be your own boss?

·         Do you like to get accolades from your boss in appreciation of your hard work?

·         Do you get pleasure from your own accomplishments that no one ever sees?

·         Do you have the time to continue on with your current job as well as the development of your product?

These are important issues to consider if you are thinking of entrepreneurialism. Even the greatest ideas may never see the light of day if you do not work well within the confines of your own achievements. You have to consider these questions and realize that you may not be prepared to strike out on your own. The soul of an entrepreneur gets little accolades and most days are filled with long hours doing most of the work on your own. So remember to think long and hard before you trek out on your own. Then when you do, surround yourself with the most knowledgeable people you can find who can give you the feedback you may need to be the best that you can be.

Quality vs. Quantity

It’s tough out there at the moment, from an economic standpoint people are looking for Quality over Quantity. People are seeking superior goods and services that will last for the long haul. We are obligated to fulfill their needs and must figure out how to give our customers, clients and investors exactly what they are looking for. Then we need to figure out how to market these products and services to them. High quality will last forever and so must your marketing campaign.

·         Get training on the latest social media strategies

·         Make use of your local advertising pros, they can give you the best bang for your buck and in today’s economy are willing to negotiate on costs

·         Secure your email list and keep it up to date and in good standing with your clients, do what you say you will do and always follow up and follow through

·         Establish a 100% return or refund policy, this gives your customers and clients the confidence to do repeat business as well as make referrals

·         Remember you are your best advocate so put yourself out there, be your own brand

·         Be selective and specific on your goods and services, this sets you apart from your competitors

·         Promote your customers and share their knowledge, this will establish a lasting relationship

·         Host a private event; this makes your high end customers feel exclusive and pampered

·         Remember money matters to all of us, especially those on a budget but even for high end clients

Discovering the Core of Entrepreneurial Women in America

As I traveled along the interstates, highways and more often than not the dirt roads of America I  watched the scenery pass through my windshield and I thought about the women I have encountered in the small and sometimes unknown communities I visit. I reflect on the women who have made their small town a better place to live because of their commitment to prosper and be enterprising in America. This commitment to success is a phenomenon I have seen over and over again, and each time I come across it I’m truly astonished.

It is the enterprising and productive women of America who are paving a new and powerful approach to supporting life in a small town. These women are a strong and often subtle presence in every state. Each one enjoys an absolute passion for their community and an unwavering drive for success in their businesses. Their sustainability in an environment where small business enterprise can be daunting and unreliable brings a sense of strength to many towns on the verge of extinction. As I visited with these amazing women in each new community, who ranged in career diversity from Icelandic Sheep Farmer to Highway Patrolmen, I realized the women of rural America are some of the finest gems we possess.

A day spent traveling along these roads takes my mind down many thoughts and to many questions. Why are they thriving in rural America? Were they born in these communities? If not then what brings them there? What keeps them there? And what inspires them to stay there? Is it their commitment to small town America where living is safe and secure or is it the love of the land and the wide open spaces? Maybe on a broader scope is it just a strong sense of themselves and the passions they possess. What gives them the confidence they have to see their passions come to fruition? Even in the face of a harsh and brutal economy, and in many cases seclusion in a small town where a shopping center can be many hundreds of miles away and the closest social gathering spot runs into the next county. It must be that they have discovered the core of entrepreneurialism, a place not many are willing to go but those that do achieve great rewards.

These women are pioneering new and industrious avenues to create a sustainable living in rural America. Trust me when I tell you what remarkable lives they live. Upon meeting one of these outstanding women who has made a success of her small business or who has accomplished great things in a non-traditional sense, it is truly an enchanting experience. One common factor all these women have as a collective entity is their passion. A passion about what they do, a passion for where they live and a passion for the people they do business with. They are truly an incredible and remarkable feature of the American landscape.

The Definition of Entrepreneur

Merriam Webster: One who organizes, manages, and assumes the risks of a business or enterprise

Wikipedia: An entrepreneur is an owner or manager of a business enterprise who makes money through risk and initiative. The term was originally a loanword from French and was first defined by the Irish-French economist Richard Cantillon. Entrepreneur in English is a term applied to a person who is willing to help launch a new venture or enterprise and accept full responsibility for the outcome. Jean-Baptiste Say, a French economist, is believed to have coined the word "entrepreneur" in the 19th century - he defined an entrepreneur as "one who undertakes an enterprise, especially a contractor, acting as intermediary between capital and labor

However it is defined, entrepreneurs are the frontrunners of our economy, those people who are willing to take the risks necessary to generate viable and progressive ideas, turning those ideas into practical businesses. Those businesses in turn affect our nation’s success and create a strong workforce in any economy.

The Entrepreneur is the foundation of all populations, so thank you for your contributions.

The study of the Entrepreneurial Brain

The subject of the "entrepreneurial brain" has been studied in many ways and many forms for many years. The foregoing conclusion being this. We are enigmas! We are sideways, backwards, upside down and spinning. We are solid, precise, influential and steady.
We wear many different hats in many different arenas, and our success is dependent upon our ability to be multi-dimensional. Entrepreneurs typically have three strong traits. The need to be creative, a high tolerance for risk and a strong desire for accomplishment. We are the ADD subjects of success. Our brains run in so many different directions it is often times hard to keep the focus on the challenges ahead when we are 10 steps beyond the next challenge.
Carl Silverstein of BizTimes categorizes the different types of entrepreneurs and how their brains function. See if you or your boss fits any of these categories:

The Trailblazer: These individuals are described as being independent, persistent, decisive, and fast. They are not happy unless they are in charge. They demonstrate their calculated risk-taking by basing their decisions on facts, rather than feelings.

The Go-Getter: These generalists are very driven, independent, and have a high level of dominance and sociability. They are very competitive, strong motivators, and leaders. They manage both process and people effectively. Even though go-getters are very driven to succeed, their competitive nature is tempered by a concern about others.

The Manager: These individuals are very goal-oriented and quite analytical, which leads them to focus more on processes than people. They understand that some projects take longer than others and look at people as vehicles for them to accomplish their goals. They tend to offend people by their straightforward style of communication. At the same time, they consider their staff an extension of their family and are very loyal. Their biggest strength is the ability to grow the business. They enjoy working by themselves and managing others can be a challenge.

The Motivator: This individual has the highest level of sociability, an above average level of dominance, and is driven and independent. They work well under pressure, can build consensus quickly, and tend to collaborate with others. They are the change agents, and are skilled in motivating people. They avoid confrontation by being able to create a strong emotional argument. They have mastered the three “Fs,” feel, felt, and found. They excel at leadership and at selling.

In organizations, it’s important to be able to align your personality type with the goals of objectives of the business. Those people that can do this effectively are usually successful. If you are an entrepreneur, you will likely only find this alignment in taking risks and accepting leadership roles within your group or company.

It’s been said that being an entrepreneur is like jumping out of an airplane with all of the tools and materials needed to make a parachute on the way down.
Now that is certainly not a leap that everyone would take. But if it sounds like fun to you, there’s a good chance you’re functioning with an entrepreneurial brain.

Control of your life

If you want to be in control of your life, of your wins and losses, successes and failures, that are, your life!!! then it boils down to making long term plans, making today’s to-do list, then doing it:


one step at a time, one day at a time; time after time, day after day.

Only through the long term implementation of good planning with a great Statement of Work can anyone achieve difficult things purposefully in one’s life. For if we define ourselves by what we once were, than we are dying instead of living.



Antoinette