* As a city, what would you like to see Memphis doing to make a bigger impact in the lives of young people? Allow our youth to develop into leaders, future business leaders and also have a stake in their community.
*You have been spending your Friday mornings with a class of young men; tell us about what you are doing, why, and what impact you hope to have? I have been talking with young men about their future and how they can control their destiny.*How parents can get their kids involved? For more information on the Memphis Entrepreneur Academy, please contact Kelly D. Price, Founder/CEO (901) 451-2900 firstname.lastname@example.org www.mymeakid.org
- It’s Never About the Economy; it’s Always About You
- It’s easy to blame everything on the economy. The reality is that entrepreneurship has nothing to do with your idea, previous experience, education and training. Although all of these do help you later on.
- Entrepreneurship is always about you. It’s about how you organize resources and manage them. It’s about how you market your business and it’s all about your commitment to see it through to the end.
- You Aren’t Playing if You Aren’t Playing by the Numbers, so think outside the box.
- If you are in business, you have to make those sales happen. The first hat you wear as an entrepreneur, apart from conceptualizing and designing your products and services, is that of a sales person. A sale manifests itself in various forms and doesn’t always lead to a financial transaction. Wooing investors, convincing customers to buy from you and roping in beta testers for your new startup are all successful sales closures.
- As long as it’s about sales, there’s a cardinal rule that applies to it: It’s always a game of numbers while you focus on doing it right. The more customers you talk to, the more you’ll sell. Apply that rule to first hires, venture capitalists and everyone else involved in the startup phase.
- Needless to say, rejections will come with 9 out of 10 interactions. It won’t matter since the 10th person is likely to buy. Rejection is the fuel that should keep entrepreneurship alive. Are you letting it fan that flame in your belly?
- Use Technology, the new economy demands new approaches to business. The Internet has already turned the tables around. So when you are starting up, is your approach going to be contemporary or traditional? The contemporary route is going to pull you towards the rewards of using technology. You’d typically start a website; create a blog, set up social media accounts and one of the many tools available to run your business. The traditional way still holds (depending on your business), but it still plugs itself into the contemporary way of doing business. That is, even brick-and-mortar business models will end up using technology.
- Customers Are Humans; Not CRM Entries Customers are not serial numbers. They aren’t entries in your CRM solution or on your accounting ledger. When entrepreneurs come up with ideas, they could fall in love with their own ideas, concepts and product prototypes that they forget that they are selling it to humans with the aim to solve a pressing problem with an effective solution. That process ought to reverse. Find the problem, come up with solutions for it, launch your product or service and then look to serve customers for life.
- What do you aspire to be? How do you purport to serve customers as you grow? What, exactly, do you want to achieve?
- What’s Your Plan? No, you don’t need a business plan. At least, you don’t need to create a 67-page business plan with financials forecast for the next decade. Your business plan puts your ideas onto paper. It gives you a document to go back and refer to when you need to refocus your entrepreneurial efforts. It’s not etched in stone. It’s printed on paper or it might even sit as a document on your computer hard drive. Change plans if you must. Dump the original plan and go for a completely new one. Whatever you do, print it on paper and keep it with you because it guides you along your way.
- Not Knowing Is No Excuse, Most successful entrepreneurs are well-read, knowledge-hungry, information addicts. Reports, magazines, books and countless hours on the Internet are all in a day’s work for the typical new age entrepreneur. It’s actually a pretty simple trait that’s still so powerful. Entrepreneurs cannot rest on their laurels. Changes are the only constant that everyone has to deal with. The only way small business owners can keep track of changing trends is by keeping on top of what’s happening in the world, in their industry and elsewhere.