If you're anything like me, the moment you tell someone that you're a side hustler it elicits a response of awe and wonder...or maybe it's well disguised pity that you're filling every waking moment with work. Filling your days with extra projects in the hopes of kick starting your passion or transforming that passion into your paycheque is foreign to some, but its steadily becoming a reality for many.
When it comes to surviving the startup grind, I don't think there's any better training than a previous life as a server or bartender. There are a ton of valuable skills that I believe translate directly from being "on the floor" to being successful in business. Here are five reasons why servers make great entrepreneurs.
One of the challenges we face when we start out, is we really don't know what will take off, so we dabble in a range of ideas, and I actually still believe this is a good way to go. But pay attention. Watch closely as to what is the most popular and perhaps, given my new insights, think about who else could benefit from what you are doing.
With only a shoestring budget, Dollar Shave Club found a way to rise above the mega brands and connect directly with consumers. They shocked us, made us laugh, and made us feel cool. They had the balls to call us out if we even thought about going back to that lame, expensive razor that we've been using all along.
Despite the importance of crisis preparedness in a 24 hour news cycle, many companies still don't have a crisis communications plan in place. Instead, they either hope one will never happen or figure they can "wing it" when a crisis eventually does occur. Simply put, not having a crisis plan in place is like playing Russian Roulette with your company's brand.
This New Year as you make your resolutions, commit to making one that will get you healthy and fit -- financially. While setting personal resolutions have become second nature, the New Year should also be the time each of us sits down with family. Talk about what your financial goals are in 2014 and what you need to have in place to ensure that your family is protected and aware.
One can easily see the allure of focusing on millennial entrepreneurs. Their youth and inexperience allows them develop innovative solutions and ideas and their low overhead enables to them to work on what Y Combinator's Paul Graham famously called the "ramen diet" where the only food entrepreneurs can afford is ramen noodles.
Entrepreneurship is a dirty word for many MBA candidates. Synonymous with extreme financial distress, entrepreneurship for many MBAs is a deep chasm of despair, particularly considering the high debt load that most MBAs have post-graduation. These attitudes and misconceptions have hurt MBA grads instead of helping them.
I was raised in Silicon Valley before moving to Vancouver and I love to see entrepreneurs with big dreams. But what concerns me is when people build a business with a focus on trying to get big simply based on the belief that "bigger is better" or when those involved with the company view anything other than a multimillion dollar acquisition as a failure.
In September of 2010, Troy Conrad launched a new format of stand up: unscripted and on a topic that the performer sees at the same time as the audience. It is (quite aptly) billed as "Stand-up Without a Net. I recently spoke to creator Troy Conrad and Paul Provenza about Set List, and the changing business of comedy.
My life has been "busy" and a lot of work for quite some time now, and that's something I don't want to change. I still take the necessary time to unplug and fill myself and my family up, but cannot deny that I also thrive off of creating and growing in business. That will likely always be part of me, even with a new baby at my side. My work is very much tied into what I want to create for my family to benefit from. I have complete respect for the women who grow up with a complete focus on wanting to stay home and raise a family... but for me, part of what I want to represent to my children is showing them that they have the ability to "have it all."
While the concerns regarding the potential negative impact of certain high interest loans are legitimate, the debate has failed to consider the context in which high interest loans exist. It is too simple to label a loan "high interest" by looking only at the annualized interest rate. There are many other factors that determine the true cost of borrowing.
Just about everyone I know has designs on or at least daydreams of starting a business, which I think is normal. And yet, while no one ever says, "I want to be a cog in a giant, multinational machine when I grow up," that's usually what happens. I can't give you advice on how to create a successful business, but I can hopefully give you the nudge you need to at least try.
It's never fun to think about everything that could go wrong, but preparing for the worst is a sign of maturity. Fires and floods (and much worse) are a part of life, and we shrug them off at our peril. The good news is that CFIB has created some Basic Emergency Management Guidelines for small businesses.
Social Enterprise is defined by Donors Forum as "A nonprofit venture that combines the passion of a social mission with the discipline, innovation, and determination commonly associated with for-profit businesses." The hard truth is that many budding social enterprises, like business start-ups, are doomed to failure. What is it, then, that put Soup Sisters in the winner's circle in this precarious environment?
October 15-19 is Small Business Week in Canada and this really is a very special year for me. This year I've partnered with Scotiabank to help shine a light on the important issues and challenges businesses in Canada face today. I've had a lot of experience on both sides of the business table and I'm really looking forward to getting a conversation started with entrepreneurs, business owners, and leaders from across the country.
Culture is merely a reflection of the individuals in a community expressing themselves in groups formed because of creative passion. Without passion and culture, we are simply just passing through. And who wants to live a life that dull and grey? We are shaped by our own choices and made better when our culture allows us to make them freely and with artistic expression and be better as a result.