From the category archives:

Entrepreneuial Thinking

The Joys of Telemarketing

by admin on August 26, 2009 · 5 comments

in Entrepreneuial Thinking, The True Self

In order to raise capital to start my new business, I am working part time making cold calls for a financial firm. It is 100% commission.

Why?

Because it is teaching me something I need: the mindset it takes to sell.   I could have spent thousands of dollars on sales training.   Instead, I took a tough sales job.

And do you know what? It’s actually fun!

I’m focusing on the people I’m calling, not on myself. I’m there to make their life easier. I work to exude caring and concern.

At first I got down when people hung up on me. And I got excited when people went out of their way to connect me with the right person.

But I am learning to avoid these extremes of emotion.  I’m learning to concentrate on just making the call. To take my ego out of it. To stop trying to prove how clever I am.

I’m learning to listen, to care, to connect — and to trust the process.

I’m loving it. The very thing I have dreaded most, cold calling: I’m loving it!

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What is Recession Proof Thinking?


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by admin on June 4, 2009 · 19 comments

in Bailout, Entrepreneuial Thinking, Increasing Personal Resilience

This economic recession is a game- and life-changer.  So was the so-called Great Depression.  For many, that downturn shaped the character of what Tom Brokaw called The Greatest Generation.  Others couldn’t cope.  

How can we each use this recession to grow — so that the richness of the our lives grows even when our resources may be contracting?  

There are two errors I see people making.  One is obvious  – being a victim of circumstances.  ”The economy won’t let me do anything, you aren’t helping, there are no jobs, I’m giving up.”   

But the flip side is also an error:  ”I’m going to muscle through, this recession won’t stop me from succeeding on my own terms!”  That aggressive courage sounds brave at first, but it doesn’t prepare you to adjust and adapt to the reality in front of you.  You can end up burned out from bravado and positive thinking, and disappointed at your results.   

We take to these extremes when our world shifts.  It’s human to look for something to hang on to, but both positions see the recession as a crisis.  I am arguing that it’s an opportunity.  

That’s what I mean by recession-proof thinking – thinking that is not reacting defensively to external forces, but coming from the best of who we are.  Thinking that makes us more, and better, and improves our families and the world around us.  

How do you do this when you are scared about your future?  

I’ve written elsewhere on this blog (and here too) (in the height of the financial crisis) on this subject.   Like everyone else, my thinking has evolved.  I have more to say.  

First – make sure you actively increase your resources to cope with stress. Take care of yourself, reach out to others, and keep yourself productive no matter what.  (See this blog post for more depth here).    

But right now, I think is the ideal recession proof strategy is becoming your own boss.   

There is nothing like becoming the CEO of your own destiny to grow as a person.  I was astonished, when I started my first business nearly 20 years ago, at how much my world enlarged.  I loved it so much that I became VP for Entreprenerial Programs at the National Women’s Business Center, an SBA-funded program, where I could help others (men and women) be successful and fulfilled.  

I still get chills when I see women and men who came through our Center adding employees, writing books, creating new lines of business, winning awards — mastering the life of an entrepreneur.    

And I don’t necessarily mean abandoning your job.  Or putting all your eggs in one business.  I really mean creating “multiple streams of income.”

In the 5 years since I left that position, Web 2.0 has exploded.  The tools to run a small enterprise (and create a good life for yourself) are at your fingertips.  And the model of “social business,” of using business to improve society, is flourishing.  I get chills too when I read that Tata Motors in India has created a car (and financing) that the world’s poor can afford.  It’s the same chills I got when I met Muhammad Yunus who started banking for the poor and has materially changed life for millions of his fellow Bangladeshis (and others around the world).  

The world is full opportunity.   Where you sit, with your background, skills, passions, and desire to grow – you can use entrepreneurship to create an expansive life while you bolster your finances.   The Greatest Generation may be the one that is born of these challenging times.   Are you game to make it so?  

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Get in On 2009 Social and Sustainable Business Plan Competitions

by admin on March 17, 2009 · 2 comments

in Entrepreneuial Thinking, Global Economy, Pay it Forward, Social Entrepreneurs

If you run a social entreprise or a sustainable/green business, check out this great list.  Business plan competitions are a tried-and-true way for a start-up to get visibility, invaluable advice, and that all important seed funding.

Ian Fisk runs The William James Foundation competitions in Washington DC.  He recently shared this list with this year’s judges (including myself) and I am happy to pass it on.

Each listing includes what Ian knows about deadlines, eligibility, and prizes, and contains a URL to the competition site.

If you know of other competitions, please add them in the comments to make this a great list, and I will pass those back to Ian.

Global Social Entrepreneurship/Sustainable Business Plan Competitions

Ashoka Citizen Base Awards http://www.citizenbase.org/bp_competitions

Ongoing; Winners receive funding and are linked to Ashoka’s network of social entrepreneurs.

Baruch College & Merrill Lynch IPO Challenge Entrepreneurship Competition http://zicklin.baruch.cuny.edu/bcec/college

First round in November.  Half the team must be Baruch students. $100,000 in cash prizes.

BiD Challenge http://www.bidnetwork.org/set-44007-en.html

Ongoing. Competitions in Argentina, Bolivia, Colombia, Ecuador, Peru, Philippines, Kenya, Tanzania, Uganda, and Jordon.

Brigham Young University Business Plan Competition Social Entrepreneurship Category http://socialventure.byu.edu

January 14th 2009
Applicants must be currently enrolled at Brigham Young (Provo, Hawaii, or Idado). $50,000 in cash and prizes.

Business Environmental Awards http://www.acterra.org/bea/index.html

January 30, 2009 For existing companies in the San Francisco Bay area. Some Non-profit organizations are eligible.

California Clean Tech Open www.cacleantech.org

June 17, 2009;  Prize Packages Totaling $600,000

Connecticut Venture Group www.cvg.org/contest.html

April; A team member must be at a Connecticut University.

Duke Start Up Challenge (Social Entrepreneurship)  http://www.dukestartupchallenge.org/about

February 19, 2009 At least one full-time Duke student.

Echoing Green http://www.echoinggreen.org/fellowship

September; Two year fellowships for emerging social innovators.

Eileen Fisher http://www.eileenfisher.com

June 1, 2009
Five grants of $10,000 for socially conscious, woman-owned businesses.

Tufts Social Entrepreneurship Business Plan Competitions

http://gordon.tufts.edu/leadCompetitions.htm (Application is via YouNoodle)

January 16, 2009;  One member of each team must be a Tufts student.

Florida International University Entrepreneur Challenge http://fiuchallenge.com

January 30, 2009 Open to all Southeast Florida Area Residents  and all FIU Students & Alumni.

Foster School of Business CIE Business Plan Competition http://bschool.washington.edu/cie/bpc/

April 2, 2009;  Entrants must be full- or part-time college students enrolled in Washington state.

Global Social Entrepreneurship Competition http://bschool.washington.edu/gsec

November 12, 2008; At least one team member must be a current student.

Global Social Venture Competition www.gsvc.org

January 21, 2009;  One team member must be a current graduate business student anywhere in the world, or have graduated with the past two years. Prizes worth $50,000.

Gonzaga University Hogan Entrepreneurial Leadership Program Business Plan Competition http://tr.im/htpI

February 26, 2009; Undergraduate and graduate students from Gonzaga, EWU, Whitworth and Washington State University. Prizes totaling $42,500.

Harvard Business School Business Plan Contest http://www.hbs.edu/socialenterprise/businessplan/

February 9, 2009; All teams must include at least one HBS second year student. Prizes totaling over $60,000.

Ignite Clean Energy Competition http://www.ignitecleanenergy.com/competition

March 2, 2009 A year-long training and competitive forum for entrepreneurs in the clean energy industry.

Investor’s Circle Call for Applicants

http://www.investorscircle.net/for_entrepreneurs/call-for-applicants

January 15, 2009

J.P. Morgan Good Venture Case Competition http://goodventure.org/home.cfm

February 12, 2009;  For philanthropic non-profit organizations.

JMU Sustainable Business Plan Competition www.jmu.edu/cob/cfe/business_plan.shtml

March 2, 2009; JMU students, faculty, alumni and local residents compete for up to $100,000.

LES (Licensing Executives Society) Foundation Graduate School Competition http://www.lesfoundation.org/graduate_student

March 4 2009; For licensing techologies. $10K in cash plus $45K in services.

MIT IDEAS Competition http://web.mit.edu/ideas/www/index.htm

April 15, 2009; One third of each team must be full-time MIT students. $50,000 in prizes.

McGinnis Venture Competition http://mcginnisventurecompetition.com

February 23, 2009; At least one graduate student must be a member of the management team.

NESsT Social Enterprise Competition http://www.nesst.org/competition/

No 2009 dates listed Civil society organizations from Argentina, Brasil, Ecuador and Peru.

NYU – Leonard Stern School of Business http://w4.stern.nyu.edu/berkley/bpc.cfm?doc_id=6306

October 27, 2008; All teams must include a Stern representative to compete. Cash prizes $100,000.

Oxford University 21st Century Challenge http://www.sbs.ox.ac.uk/21challenge/competition/

No 2009 dates listed. Must be a for-profit

Private Sector Development Research Competition http://www.ifc.org/competition

No 2009 dates listed.  This is an essay contest. Applicants must not be an employee of the World Bank.
Rice University Business Plan Competition

http://www.alliance.rice.edu/alliance/RBPC.asp?SnID=1616311824

International  – Jan 16, 2009. USA – Feb 13, 2009 The management team must consist of at least one graduate student. $700,000 in prizes.

RGK Center for Philanthropy and Community Service Social Innovation Competition www.utexas.edu/lbj/rgk/competition/index.php

February 20, 2009 Undergraduate and graduate level students from any 4-year university or college in the world are eligible to enter. $50,000  in prizes.

Seattle Pacific University Social Venture Plan Competition http://www.spu.edu/depts/sbe/svpc.asp

February 24th, 2009 Must include SPU student.$7,500 in prizes.

Skoll Awards for Social Entrepreneurship www.skollfoundation.org/skollawards/index.asp

Several deadlines throughout the year: March, August, November.  Programs submitted for consideration should have a track record of no less than three years.

Social Enterprise Club Pitch for Change Competition http://www.pitchforchange.org/

January 30th, 2009; Participants do NOT need to have a completed business plan. They simply need to have a great idea that will have a significant social impact

Social Innovation Forum http://www.socialinnovationforum.org

Already chosen for 2009 Organizations and programs  in the Greater Boston area.

Stanford Social E-Challenge http://bases.stanford.edu/social-e-challenge/competition/ (Submit via YouNoodle.com)

February 17, 2009; Team must be at least half full-time Stanford students. $50,000 in prizes.

Students for the Advancement of Global Entrepreneurship (SAGE) World Cup http://www.sageglobal.org For High School Students

Tulane Business Plan Competition http://www.tulanebusinessplancompetition.com/

February 8, 2009 Plans can be either for profit or non-profit ventures. $20,000 in prizes.

University of San Francisco International Business Plan Competition http://www.usfca.edu/sobam/nvc/bpc/

January 7, 2009 $25,000 in prizes.

William James Foundation 2008-09 Socially Responsible Business Plan Competition www.williamjamesfoundation.org; www.williamjamesfoundation.org/sustainability;
www.williamjamesfoundation.org/dcprize

First round Deadline December 12th, 2008;  One team member must be or have been a student anywhere in the world in the past ten years. $60,000 in prizes, including special prizes for environmental sustainability and support of  the Washington, DC community.

Yale Entrepreneurial Society (YES) http://www.yesatyale.org/y50k.php

January 19, 2009 $50K in prizes.

Youth Social Enterprise Initiative http://www.ysei.org

Below 30 years old from Bangladesh, India, Malaysia, Philippines or Sri Lanka

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There Aren’t “Two Kinds of People”: Why It Matters To You and Your Money

13 March 2009

Reading a marketing e-mail from Loral Langemeier, a “wealth coach,” she makes a distinction between two kinds of people:

If you’ve been following my strategies, you already know that I believe there are two kinds of people:
(1) The Creators – Generators – Expanders
(2) The Restricters – The Dieters
Which kind of person are you?

I cringed — yikes, [...]

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Greed is Good?

3 March 2009

My stepson and I had an interesting conversation about “selling out.”   We were talking about musicians.  With the clear sight of a 22-year-old, he defined selling out as:
YOUR IN IT TO MAKE MONEY, NOT DEVELOP YOUR ART.
That set off bells in my head…the combination of idealism and cynisicm.  The clear understanding that creating based on [...]

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How NOT To Think About the Recession

8 December 2008

A success coach named Della Menechella is recommending formula for thinking about the recession that is fundamentally unsound.
Her advice is rooted in the sandy soil of many years of easy times, times that have come to an abrupt and surprising end. There is more than a little economic illiteracy underlying her assumptions. [...]

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Money in Business: The Solution to the Pain is In The Pain

13 September 2008

I’ve been participating in an interesting discussion on the Small Business Trends blog on undercharging for services. John Jantch (Duct Tape Marketing) started it off.
What is so interesting is that there is more inner emotion leaking out on this topic than just about any other one I’ve seen. Just about no one feels [...]

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Working with Clients

10 September 2008

Being a consultant is being in a helping profession. It’s not just about your technical knowledge, its about how much help you can provide to get results for your clients. It’s also:
– not about how much money you make or how successful you are, although if you really can get results for your [...]

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Doing What You Want to Do

10 September 2008

So many of us go into business to do what we want to do. We work long hours happily to be our own boss. But if you are like me, your business can easily take a shape that takes you away from that inner impulse…if you, like me, suffer from a need to [...]

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Generational Differences in Entrepreneurial Activity

5 September 2008

Are younger people more entrepreneurial than baby boomers?
Younger people start things using technology at the drop of a hat. Just tonight I visited the site of Nate Westheimer, a 20-something who has a simple site that combines video and text to promote his political views. http://wtfpolitics.com Tech expression comes naturally.
But technology is a [...]

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Bootstrapping Knowledge, Not Money

3 September 2008

I just became an ebay powerseller! And, based on my customer feedback rankings, I am in the top 10% of all ebay sellers.
I started this business when I was recovering from an illness, when I couldn’t really concentrate enough to read or write. It’s been interesting to figure it out, the ins and [...]

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