According to Matt Cutts, trying something new for 30 days can change your life for the better. He has tried multiple 30-day projects and he shares his results with the TED audience!
Schools are holding virtual graduation ceremonies as students finish up a disrupted school year and prepare for a summer vacation largely devoid of day camps and sports due to the pandemic. After summer ends, whatever schools decide to do next fall, education won’t be back to normal for a long time. Experts discuss such questions as: Will schools reopen in the fall? If schools remain closed, what will be the impact on students’ education, long-term? How has the pandemic already impacted students, from elementary through higher ed; how are schools at all levels adapting to teaching virtually, and how to safely return to teaching in person – Recorded on June 4, 2020. Who:
STAY TUNED TO CLINTONEDAY.COM BLOG. We have an extraordinary treat upcoming with coverage form the 2019 GLOBAL HIVE CONFERENCE IN SILCON VALLEY. Hive is the community for leaders and entrepreneurs who are changing the world with 2,800 members in 130 countries. This retreat is in the Santa Cruz mountains near Silicon Valley August 15-18th, and your editor will be in attendance. We plan to highlight speakers, guests, and the stimulating innovation to come out of it. HIVE GLS 2019 FLYER v13 (2).pdf = on Hive.org
Some of the speakers include Presidential candidate Mary Ann Williamson, Mind-boggling!
Mikaila Ulmer may be just 14 years old, but she knows a thing or two about business. The young CEO founded her Me & the Bees Lemonade business when she was just four years old, and over the past decade has sold 1 million bottles across 1,000 stores in the U.S., including Whole Foods and, as of this month, Macy’s.
The “Shark Tank” success, who scored a $60,000 investment from Daymond John in 2015, has also established herself as a voice of guidance for others, regularly speaking at entrepreneurial summits and even introducing former U.S. president Barack Obama at The United State of Women Summit.
That’s no easy feat for a teen still completing her studies. Yet, according to the Gen Z influencer, it’s proof to others that age should not be a barrier.
“No matter how old you are, you always have something to learn. And no matter how old you are, you always have something to teach,” Ulmer told CNBC Make It. “That’s something I always remember, whether I’m speaking to 15 or 15,000 people,” she said, before presenting a “Finance 101″ workshop to female founders at the Dell Women’s Entrepreneur Network (DWEN) in Singapore.
“When you have a big voice, make sure that you give others a voice behind you, and that you’re not only growing yourself but helping others grow and giving your expertise to others,” she said.Of course, that confidence didn’t always come easy to the young entrepreneur. Ulmer admitted to getting “nervous” when, at the age of eight, she starting leading workshops for older school kids.
But, it’s something she learned from the bees that have been so integral to her lemonade business.
“If you look into a beehive, they’re all working very closely together, it’s usually jam-packed, and they communicate, they’re always communicating, they’re always working together, they never put one bee to a job,” she said.
Ulmer started her lemonade business when, at the age of four, she was stung by two bees in one week. Rather than be scared, she was encouraged by her parents to learn more about the insects and their important role in the food cycle.
At the same time, Ulmer’s family received a cookbook from her great-grandmother, and discovered an old recipe for flaxseed lemonade. Ulmer decided that if she could make the lemonade with honey bought from local beekeepers, she could do her bit to help the bee population.
That fall, Ulmer’s mom and dad suggested she make the lemonade for a children’s business competition in her hometown of Austin, Texas. The product was a hit and, with that, Me & the Bees Lemonade was born.
Ulmer has since been expanding the business with the help of her parents, themselves business school graduates. Me & the Bees Lemonade recently launched a new line of beeswax-infused lip balms and, separately, in 2017, Ulmer launched her own non-profit — The Healthy Hive Foundation — to conduct research, education and protection projects for honey bees.
Me & the Bees Lemonade continues to donate 10% of all profits to bee conservation groups. But she isn’t stopping there. In between her studies, Ulmer spends her time managing her business, traveling for speaking engagements and thinking up new product ideas. She also recently signed a deal to co-write a book for young entrepreneurs.
“Even though I started with lemonade, I always wanted to expand to different products. My dream has always been to be the Hello Kitty of lemonade, and do my brand and my mission but spread over an array of products,” said Ulmer.
“I always say that it’s important to dream like a kid and that (as a kid) it’s the perfect age to start figuring out what you enjoy and trying new things and taking risks,” she added.
I call it the unifying principle of entrepreneurship. Whether you’re selling software or sausage, offering consulting services or dreaming up the next Uber, it’s the single most important thing you need to know to succeed. It’s not the only thing, but forget it and you are likely to face almost certain failure.
Three essential truths
Why “unifying”? Because this fundamental principle encapsulates three essential truths about entrepreneurship.
First, it describes the earliest and most basic form of all entrepreneurship—barter, as when our ancient ancestors might trade warmth-producing animal fur for grain, making each of the parties to the trade happy. Such trade is at its core the entrepreneurial transaction, whether you’re trading real estate, products, or services. Often today’s more complex entrepreneurship terminology—phrases like “value proposition” and “product market fit”—can obscure this fundamental truth.
Second, this unifying principle of entrepreneurship conveys the fundamental fact that emotions drive transactions. The positive emotions associated with acquiring a product or service must be big enough to overcome the negative emotions associated with handing over money (which is referred to as the endowment bias). Remember, too, that someone who said they like something you do or make may not like it enough to actually want to part with their money to buy it.
Third, understanding the emotional state of your customer pre- and post-sale is critical. The jargon of value propositions causes many businesses and entrepreneurs to neglect monitoring or measuring the emotive responses of customers, yet those responses will largely determine whether they’ll buy the product or service in the first place and come back for more later.
Some of the most famous entrepreneurs in history certainly understood this principle and its underlying truths. Sam Walton’s success is often attributed to his ability to relentlessly squeeze out operational inefficiencies so he could undercut the competition, but the real secret of success was his unflagging determination to make customers happy. Every Saturday for 45 years he met with his managers to share ideas about how to make customers not just happy, but happier.
Similarly, Steve Jobs is often remembered for his disdain for focus groups and the like. But in the early days of Apple he spent countless hours observing how people used the Apple I inside the shops where they were first offered. That’s how the company came to include keyboard, TV driver, cassette interface and BASIC software in the Apple II.
The hundreds of thousands of people who start businesses each year and through patience and hard work build them into successful enterprises understand this fundamental principle as well. These “bedrock entrepreneurs,” as I call them, don’t make the headlines, but they do make people happy. I’ve spent the past several years talking to many of these bedrock founders, watching them at work, getting to know them, and discussing their motivations and their aspirations. Most of them started with next to nothing and created enterprises that made countless people happy and better off.
When forgetting can be fatal
This principle is so simple that it should go without saying, no? But it’s surprising how many entrepreneurs fail to fully grasp it, lose sight of it, or conclude that it doesn’t apply to them. And it’s doubly surprising that many of them make this mistake when they can least afford to—in the earliest phase of their startup. That’s when they’re likely to find that few people are interested in the product or service as it was originally conceived.
Rejection of a cherished idea can hurt, especially when you’ve just spent enormous amounts of time and risked your personal finances trying to get a company off the ground. Nevertheless, you must figure out what part of your original idea is worth saving and what part you must jettison. It’s the first big test you are likely to face as an entrepreneur.
It’s not easy. You may feel anxious and disoriented. You may feel that you’ve lost control. You will certainly find change exhausting: you must work through the many possibilities, from simple tweaks to extreme makeovers, to figure out how to deliver something valuable that people will happily give you money for. You must find and contact many potential customers to validate your changes. You will need to alter your prototype, or your service description, or your specifications, or your website, over and over as your idea evolves. This is an enormous amount of work, and it’s emotionally draining.
Unfortunately, instead of staying tightly focused on customer validation, many entrepreneurs pour enormous energy into devising a business plan. That is perhaps the most common mistake startup leaders make in the early stages. You cannot have a meaningful business plan until you know what customers want.
Entrepreneurial success is not nearly as complicated or as out of reach as it is sometimes made out to be. While some businesses need to be complex and all businesses become more complex as they grow, the fundamental principle of entrepreneurship is simple and straightforward. You do not need to be brilliant and technically savvy to be a successful entrepreneur. But you do need to ask yourself how badly you want to make other people happy.
From Forbes online Sept. 24, 2018 by Derek Lidow
How venture capitalists rushed to judgement and blind ambition can hurt the public.
The story of Theranos is the Silicon Valley equivalent of the Enron scandal replete with bold claims, high valuations, defrauding of investors and terrible corporate governance. Theranos promised to revolutionize healthcare by painlessly performing hundreds of tests on a single drop of blood.
In 2015, Theranos was a unicorn valued at $9 billion. By 2018, the company shut down and Elizabeth faced a ten-year ban from serving as an officer of a public company. Theranos serves as a cautionary tale of what can go wrong with a ‘fake it till you make it’ approach to building a company.
The rules for equity crowdfunding, whereby an entrepreneur can raise money by selling a piece of his or her company for cash, changed in May. It’s been a hot topic since then. And to address this nascent and still as of yet largely misunderstood category of startup finance, the organizers of the Nashville-based startup conference, 3686 South, gathered a group of all-star experts to discuss these new rule changes.
Rules went into effect in May such that anyone with the cash and interest can invest in startups through equity crowdfunding. Prior to the rule change, only accredited investors could participate in equity crowdfunding.
“What this has done is really allowed for more pools of money to be available to entrepreneurs, so that’s the really big news about all of this,” says Geri Stengel, founder and president of Ventureneer, a digital media and market research company that, among other issues, specializes in crowdfunding. “Only about 1 percent of all small businesses will raise venture capital. Only about 3 to 4 percent will raise angel investment,” says Stengel, who is sitting far left on the couch.Equity crowdfunding is expected to provide a fundraising alternative for ventures such as yoga studios, restaurants or other various main street businesses.
Stengel is joined on stage by Doug Ellenoff, a corporate and securities attorney with a specialty in business transactions and corporate financing who has been actively involved in working with federal government agencies as the rules are being rewritten, and Pelli Wang (on the right end of the couch), the venture director at SeedInvest, a leading equity crowdfunding platform and early-stage VC fund.
To be sure, equity crowdfunding is not going to steamroll over other sorts of startup financing. “It’s not intended to replace venture capital. If you can get venture capital, God bless you. That’s wonderful, that means you are in a rarified group of profiled companies that are exciting to the VCs,” Ellenoff says. “But for many other thousands of entrepreneurs that have started up, they are only looking to find a few hundred thousand dollars, Title III (the provision of the law referring to equity crowdfunding) is a wonderful opportunity.
Equity crowdfunding also gives a lot more individuals in the U.S. access to startup investing. “For most of the last 80 years, venture as an asset class has been really difficult for the average investor to get in, unless you are a high net worth individual, unless you get the deal flow, you are part of an angel group or you invest into VCs, you just didn’t have access into this asset class,” Wang says. “It’s a great way to get into an asset class that previously was barred.”
To watch the full panel – https://www.entrepreneur.com/video/277605. Article written by Cat Clifford of Entrepreneur Magazine, who acted as panel moderator.