Author Archives: C. DAY

Best Practices in Entrepreneurship Recording

#entrepreneurship 

Do NOT miss Best Practices in Entrepreneurship broadcast recording. Two excellent professors answer key questions, sharing their knowledge and experience. Host and two guests all former entrepreneurs who have taught the subject for years. https://studio.youtube.com/channel/UC2QfIMvtbLtJ6nBVDMRYNrw    YouTube Link

 

Guests are Dr. Andy Gold, Hillsborough Community College Tampa, NACCE advisor, veterans entrepreneurship specialist.

&

Michael Grimshaw, Director of Entrepreneurship at Cal State University Dominguez Hills (Los Angeles) Entrepreneurial Institute, Enactus social entrepreneurship advisor

Hosted by blog editor Clinton E. Day, MBA

Length 57 minutes

Full of a treasure trove of resources and ideas.

Best Practices of Entrepreneurship LinkedIn Live Broadcast

A treasure of entrepreneurship education based on questioning two highly rated entrepreneurship professors who head programs on the two coasts, one in Los Angeles and the other in Tampa FL.  Each one has unique experience and specialties to share with entrepreneurs, educators and the business world in general.

All participants, your editor Clint Day, Dr. Andy Gold of Hillsborough Community College in Tampa, and Mike Grimshaw director of entrepreneurship at Cal State Dominguez Hills  (Los Angeles), were successful entrepreneurs before moving into teaching the subject. Andy and Mike also operate busy incubators on their campuses, enjoy diverse student bodies, and have disadvantage entrepreneurs programs (Andy’s EEVF inside NACCE.com) and Mike Enactus activity for underdeveloped country students to speak on the social aspect of new venture.

https://www.linkedin.com/video/event/urn:li:ugcPost:6918503399181139968/

With so much to cover, we tried to list resources for both entrepreneurs and their educators which may entail stopping the recording (runs 57 minutes) at selected points and replay to hear the source repeated.   Email are provided at the conclusion, and we encourage any viewer to contact the speaker for more information on topics of interest.  Some the resources on the web:

Current in Entrepreneurship Blog –  https://cllintoneday.com  (host & blog editor)

   Enactus.org.  – developing the next generation of entrepreneurial leaders using social innovation.

   NACCE.com  – National Association for Community College Entrepreneurship (included referenced EVVF inner city funding).

Cal State Dominguez Hills. – https://www.csudh.edu/cbapp/institutes/the-entrepreneurial-institute.

Hillsborough Community College  – https://www.hccfl.edu/academics/inlabhcc

STRIVE veterans entrepreneurship program  – https://www.nacce.com/news/nacce-announces-rollout-of-strive-consortium-in-partnership-with-the-institute-for-veterans

 

California Entrepreneurship Educators Conference, 4/29/22 San Diego

A special group of entrepreneurship professors were assembled by Alex DeNoble of San Diego State University’s Lavin Center for this years California Entrepreneurship Educators Conference (CEEC) and offered free to all comers online.  We counted four past USASBE (U. S. Assn of Small Business and Entrepreneurship) Presidents among the presenters, and topics were razor focused -the entrepreneurial mindset, entrepreneurship and the disadvantaged, and ethics and entrepreneurship.

Rebecca White, Chair and Director of the University of Tampa entrepreneurship center, led the mindset panel providing that part of her new book See, Do, Repeat about three elements of an entrepreneurial mindset.  Opportunity recognition must also include willing action and an ability to execute, the latter overcoming past failures, the ability to pivot, and optimism.  Dr. White shares her startup process on this Start here website:

https://drrebeccawhite.com/start-here/

Others in her panel, Jeffrey Stamp from the University of Minnesota and Jeffrey Hornsby from UMKC added intrinsic curiosity, a willingness to try new things, and exhaustive research to the topic with many resources.  Daspit et al. developed an integrated definition of the mindset as “a cognitive perspective that enables an individual to create value by recognizing and acting on opportunities, making decisions with limited information, and remaining adaptable and resilient in conditions that are often uncertain and complex.”

Another jewel of a panel was that of Dr. Mike Morris from Norte Dame who has established the Entrepreneurship Development Institute to eliminate impoverishment through entrepreneurship. Targets of his work are minorities and disadvantaged populations focused on Africa, Latin America and inner U. S. cities.  One participant from Dearborn MI uses project learning or PBL, project based learning, for students to experience the social benefit of small business enterprise in depressed neighborhoods.  Patrick Synder, Ex Director of Biz Starts Milwaukee told how he has adopted the model of helping underserved communities improve by helping disadvantaged entrepreneurs make their dreams a reality.  His program teaches cohorts on Saturdays the basics like accounting, design thinking and business planning to build micro businesses that raise inner city’s economy.

Mike’s panel featured others who teach entrepreneurship as a pathway to reducing poverty.  One pointed-out the need to prepare students for their time in lower-income neighborhoods which includes humility training for better collaborations. Impoverished people are incredibly intelligent, but just did not have the same opportunities as those more fortunate.  Showing how to generate empathy for lower-income entrepreneurs increases the success of the program.  Generally speaking, business in general must play a role in abolishing impoverishment, and introducing corporation social responsibility programs into the disadvantaged communities has proven particularly effective over time.

Sponsors of the conference are going to share recordings and slides in the near future, and we will provide follow-up to this report in the near future.  Editor Clint Day

 

Real Reason to Be an Entrepreneur

 

Lots of people become entrepreneurs for the wrong reasons

 Why do you need to do more? Why aren’t you just happily retired on your private island somewhere? What drives a serial entrepreneur like you to keep building even after having as much success as you’ve had?”

I wish I could tell you his answer surprised me. However, having spent nearly two decades either building startups myself or teaching entrepreneurship, his answer is exactly what the experienced entrepreneur I’ve become would expect. It’s also an answer the younger version of me as an entrepreneur — the one who was focused on becoming rich — would have never understood or appreciated. For Scott Heiferman, building companies isn’t about money at all. Instead, it’s about helping solve the world’s biggest problems. Or, as Scott put it when we spoke, the reason he’s still building startups is:

“Because the world’s messed up and because there’s an opportunity to help. I mean, if the world was going swimmingly and people’s lives were fully solved for and they had opportunity and they felt powerful, I wouldn’t keep doing it, but it’s what I’m good at. Some people are good chefs, so they should make people happy by making good food. Some people are good teachers or nurses, or whatever the heck they do that helps people, and that’s a good way to spend their lives. I’m not good at most things, but I’m good at building companies, so that’s how I contribute… And, it’s not like there are many people who have built platforms that have been used by tens of millions of people. So it would be a shame if I didn’t put some of that experience to good use.”

Scott’s answer underscores something I’ve written before and something I’ll keep writing over and over and over again because I want to make sure every aspiring entrepreneur understands it in a way I didn’t when I first began my startup journey. The thing I didn’t understand was this:

Entrepreneurship isn’t about building companies or making money or becoming famous. Entrepreneurship is about solving problems.

Yes, sometimes solving problems in entrepreneurial ways can lead to big companies and money and fame, but that’s a byproduct, not a purpose, which is why it’s not the thing the best entrepreneurs are focused on. The best entrepreneurs are focused on solving problems and helping improve the world. When they do that successfully, great things happen. For proof, just ask an entrepreneur like Scott Heiferman. Or, better yet, find an important problem to solve so you can discover the real purpose of entrepreneurship for yourself.

Courtesy of Entrepreneur’s Handbook by Duke’s Aaron Dinin Ph.D.

7 Ways to Know Your Worth and Shake the ‘Poverty Mindset’.

How to learn what you deserve and be a better business owner when you came from nothing.
 

My name is Ashely Smith. It’s one of the most common names in the  (especially if you were born in the 80s), except my first name is misspelled on account of my dad, who just couldn’t spell so good.

I’m a middle child of five siblings. Pale-skinned, freckle-faced and ordinary. I was born in Milton, , 15 minutes from the Alabama state line. Its original name was “Hell Town” because the mosquitoes, snakes, briar patches, alligators and hot, humid weather left it undesirable to anyone with a lick of common sense.

Now I sit in my plant-filled sunroom in St. Petersburg, Florida, watching the remnants of another fantastic sunrise turn into a bright white sky. My Mercedes  sits in the driveway — a societal testament that I’ve graduated from roads made of clay and whip antennas.

Milton is all but a distant memory. Yet, when I think back to everything that had to happen to get me here, gratitude wells up in my chest for what I didn’t know at the time was the that I needed to get me to the next level of my life.

I needed to grow up poor. I needed my dad to leave us at 8 years old. I needed to learn the hard way that I was fueled by a deep rejection from father figures — that’s why I always got my heart broken by the many “bad boys” that roamed around town. I needed there to be an old skating rink where I would spend hours rolling around on the slick rink floor, and I needed to  it deeply.

Ten years ago, I was really trying to get it together, especially for my newborn daughter. I enrolled in college and started working hard to become a dental hygienist — a $70,000 annual salary and a 35-hour work week sounded pretty sweet to me.

To gain some experience in the field, I got a job as a dental assistant and laboratory technician. And to escape the tumultuous arguing with bad boy #37, I played roller derby in the evenings.

One night, I showed up to derby practice wearing a mouth guard I made at the dental office — with my derby name “Slim Skatey” written across the front — and my future began to take shape. The derby girls loved my mouthguard, so much so that they asked to buy some from me.

I bought a thermoforming machine, a die-cutting printer for the vinyl, ordered the material online and set up shop in my laundry closet. I’ve come a long way since using the top of the washer and dryer as my workspace.

I read somewhere that when you go to work on your business, you’re really going to work on yourself. Your business is a direct reflection of you. It will never exceed who you are. So, if you want more, you have to become more.

With that said, here are seven tips for anyone that has ever had an inkling that they deserve more out of life.

1. Get away from negative people
 
2. Know your worth and embrace your authentic self
 
3. Learn patience
 
4. Love and be kind
 
5. Work hard and cut out distractions
 
6. Start putting money back early
 
7. Raise your standards

Courtesy Entrepreneur.com by Ashley Notarmaso 4/18/2022

The New Startup.

A new world calls for a new kind of startup.  But, it won’t be solving entirely new problems.

Entrepreneurs create solutions –but with the world bogged down in problems, it’s hard to know where to begin.  Global investor Alexandre Lazarow has some advice: take inspiration from companies built in the most difficult environments.  Lazarow is the author of the book Out-Innovate, in which he studied 200 companies built in small and often challenging marketplaces –where resources and talent may be scarce, and where economic uncertainty reigns.  So how do those entrepreneurs there thrive?  “They have sustainability and resilience built into their DNA,  and into the operational fabric of the business,” he says.  Below, he talks about how to take a long-term approach and build for the future.

How do you innovate in such a time of uncertainty?  In Silicon Valley, they’re obsessed  with disruption.  Everyone is either disrupting or being disrupted.  But what we need today is different.  We need creators.  This is a semantic difference; it’s offering a product or service that wasn’t already available in the formal economy, or available at all.  And these entrepreneurs are the shoulders upon which others build, so they’re actually building their ecosystems at the same time.

Here’s an example: M-Pesa, a mobile banking startup in Kenya.  They created a payment system, and now 80 percent of Kenyan adults use it as their primary method.  That enabled a whole host of other industries across energy, education, healthcare, etc., that were never possible before.  That’s what I’m talking about: How do we channel this creator’s mindset to solve problems domestically and internationally, to capture meaningful opportunities in the market?  Coronavirus is laying bare the challenges we have in our society; we have to face them differently than we have before.

Once an entrepreneur has a solution, what next?  I think we’ve been plagued by this notion of “Move fast and break things”, where it’s OK to take risks and make mistakes with no mention of the consequences.  We have an opportunity to revisit that, for the better.  The best entrepreneurial creators are also managing risks.  They build risk management into their KPIs, their operations, their culture. That doesn’t mean you shouldn’t take risks; it means figuring out what risks are acceptable.  We don’t know what best practices will be yet, but let a lot of ideas come from the bottom up.  It’s the folks at the front line, who know a business really well, who can guide some of this.

We’re talking about building for the future, but…when exactly does “the future” start? 

The author William Gibson once said, “The future’s already here.  It’s just not evenly distributed.”  The problems of tomorrow are still going to be the problems of today, and the problems of yesterday.  Healthcare, education, financial inclusion –those are not new challenges.  Try to identify a pain point in your community, and in your society, that you feel really passionate about and that you have an approach to tackling.  That’s a really good place to start.

Courtesy of Entrepreneur.com by Jason Feifer

 

 

 

Entrepreneurship, Key to Lifelong Happiness.

“The idea of opportunity and boundless adventure, that’s central to entrepreneurship. And, I think one of the most important characteristics, the most important ingredient of entrepreneurship is happiness.”

Bestselling author and acclaimed social scientist Dr. Arthur C. Brooks had just started detailing how Babson College students, staff, faculty, parents, alumni, and entrepreneurs of all types can maintain happiness throughout their lives when he began talking turkey—both literally and metaphorically.

“In the next few minutes, I’m going to introduce to you the incredible world of neuroscience and social science and human happiness. And, if I do my job, you’re going to have a 401(k) plan for your happiness. Just like I have one for me,” Brooks said during a nearly hourlong discussion on campus Tuesday night.

The free presentation, which packed Knight Auditorium, was hosted by the Butler Institute for Free Enterprise Through Entrepreneurship.

Brooks, who writes a regular column for The Atlantic about happiness and loneliness in the pandemic era, went on to compare happiness to a well-balanced Thanksgiving meal of pumpkin pie, mashed potatoes, and, of course, turkey.

“Now, why do I bring that up? Because that’s a good metaphor for happiness. All foods are made up of three micronutrients—fat, carbohydrates, and protein,” he said. “Happiness requires three macronutrients in abundance and balance. They are enjoyment, satisfaction, and purpose.”

The vivid Thanksgiving imagery captured the imagination of Amanda Blein, a prospective Babson student from Haiti who came to the event with her mother and sister.

“I never really thought about it like that, but when he said it, it made sense,” said Blein, who stuck around after the event to have a free copy of Brooks’ newest book signed. “We really need that balance of everything to have it together.”

Bestselling author and acclaimed social scientist Dr. Arthur C. Brooks had just started detailing how Babson College students, staff, faculty, parents, alumni, and entrepreneurs of all types can maintain happiness throughout their lives when he began talking turkey—both literally and metaphorically.

“In the next few minutes, I’m going to introduce to you the incredible world of neuroscience and social science and human happiness. And, if I do my job, you’re going to have a 401(k) plan for your happiness. Just like I have one for me,” Brooks said during a nearly hourlong discussion on campus Tuesday night.

The free presentation, which packed Knight Auditorium, was hosted by the Butler Institute for Free Enterprise Through Entrepreneurship.

Brooks, who writes a regular column for The Atlantic about happiness and loneliness in the pandemic era, went on to compare happiness to a well-balanced Thanksgiving meal of pumpkin pie, mashed potatoes, and, of course, turkey.

“Now, why do I bring that up? Because that’s a good metaphor for happiness. All foods are made up of three micronutrients—fat, carbohydrates, and protein,” he said. “Happiness requires three macronutrients in abundance and balance. They are enjoyment, satisfaction, and purpose.”

The vivid Thanksgiving imagery captured the imagination of Amanda Blein, a prospective Babson student from Haiti who came to the event with her mother and sister.

“I never really thought about it like that, but when he said it, it made sense,” said Blein, who stuck around after the event to have a free copy of Brooks’ newest book signed. “We really need that balance of everything to have it together.”

Brooks spent much of his presentation breaking down those three key ingredients for happiness. Enjoyment, he said, is more than sheer pleasure, it’s a well-earned pleasant experience shared with those closest to you. While success, he said, is actually about wanting less. Otherwise, you’re constantly focusing on things you don’t have, instead of embracing the things you do.

“This will not come naturally,” Brooks said. He tries to cross off things from his so-called bucket list every year, not by doing them, but by letting them go. “I make a strategic plan to free myself from those attachments, and if you do this, it will change your life.”

This wasn’t the first time that Brooks’ work has been discussed on Babson’s campus. Andrew Corbett, the Butler Institute’s faculty director who introduced Brooks on Tuesday night, held a screening and student discussion about Brooks’ documentaryThe Pursuit, at the Sorenson Center for the Arts in 2020. The film details the positive role of free enterprise and capitalism in the fight against poverty.

Article courtesy of Babson College, by Hillary Chabot, April 21, 2022

Don’t Miss This Event Opportunity May 12th.

FOR THE ENTREPRENEURSHIP WORLD –  A LINKEDIN LIVE BROADCAST FEATURING TWO HIGHLY REGARDED PROFESSORS 

Both operate large incubators, have highest Teachers Rated scores, and will answer specific questions covering the range of entrepreneurship best practices.  One, Mike Grimshaw, is based in LA while the other, Dr. Andy Gold, is from Tampa;  One is an expert in Enactus (global entrepreneurship Mike G, the other is an expert in veterans entrepreneurship (designed IVMF & NACCE STRIVE curriculum Andy G).  

If interested in this special broadcast reserve 11 AM EST or 8 AM PST on Thurs., May 12th and request an invitation be sent thru LinkedIn to the Clinton E Day, MBA profile.  Hope you can join this share of valuable knowledge.  Any questions contact clint.day@comcast.net, your editor and host.

Can Entrepreneurs Save the Planet?

Climate change is one of the biggest threats to our planet and our way of life. The UN Intergovernmental Panel on Climate Change recently released its 2022 Climate Report, which features a stern warning that human-induced climate change is already causing irreversible damage to humans and nature alike. There is no doubt that combating climate change will take significant resources, collaboration and ingenuity.

At the 2022 Kenan Institute Frontiers of Entrepreneurship Conference, the Kenan Institute’s Chief Economist Gerald Cohen spoke with two leading experts – Dr. Eric Toone and Dr. Jacqueline Pless— to discuss the role of entrepreneurship and innovation in fighting climate change, specifically through new technology in the clean energy space.

Dr. Eric Toone is the executive managing director and technology lead at Breakthrough Energy Ventures and professor of chemistry (emeritus) at Duke University. Dr. Jacqueline Pless is the Fred Kayne (1960) Career Development Professor of Entrepreneurship at MIT Sloan School of Management.

Can Entrepreneurs Save the Planet?

                                                           Courtesy of