If you read entrepreneurship and small business blogs long enough, you will notice that there is a question that keeps coming back each year: are entrepreneurs born or taught? The question got more and more important as younger and younger entrepreneurs become successful even before finishing High School. I’m too, guilty of trying to answer this question, although my entrepreneurial life was much more typical, leaving the 9 to 5 and becoming an entrepreneur.
Luckily for me, there is now a book called “We are All Born Entrepreneurs” and I got the chance to interview the author, Steve Welch about the book and his discoveries about entrepreneurs:
Cristian: Steve, you wrote a book called “We Are All Born Entrepreneurs”. What is it about?
Steve: The book uses my story and that of other entrepreneurs to help others learn from their successes and failures. At the same time it explains why so many of us have a deep-rooted passion for entrepreneurship.
Cristian: Do you consider yourself a successful entrepreneur?
Steve: I have certainly had some successful ventures, but I have also had some unsuccessful ventures. However like most good entrepreneurs, I think I have consistently learned from my successes and mistakes.
Cristian: How did you come up with the idea to write a book?
Steve: As I started to work with so many young entrepreneurs at DreamIt Ventures I became frustrated with what was clearly being emphasized at the MBA School. Too often I saw entrepreneurs focusing on raising money, as if raising money was the validation of a viable business. I bootstrapped my first business, as did most of the entrepreneurs in this book. I told the many stories in “We are All Born Entrepreneurs” to show that there are many different paths to success. However successful entrepreneurs develop the skills necessary to succeed and then adapt to the individual circumstances of their venture. Sometime this means raising money form outside sources, often it does not.
Cristian: I know from my own experience and from interviewing other entrepreneurs that most people are afraid to start a business on their own. Is fear of entrepreneurship a reason not to start a business?
Steve: Fear is certainly a nature part of starting a business. I have not found a successful entrepreneur who does not remember fear being an emotion that they felt in their early ventures. So much of life and early stage ventures is timing. I was 23 when I started my first big success, Mitos. I had no children, no mortgage and parents that would not let me starve to death if I failed. This is a good time to start a business, because the consequences of failure are not that great. More important the benefits of success out weigh the negatives that come with failure. Whether succeed or fail, entrepreneurs learn the most on their first venture. The earlier this happens, the more they will be able to draw on these experiences throughout their lifetime.
Cristian: From the stories in the book, what is most common amongst people starting a business? Determination? Good planning? Desire to make things work?
Steve: Successful entrepreneurs find purpose in what they do. They use this purpose as a foundation to constantly learn and turn their inherited traits into the skills needed to succeed. They accepted failure as part of their learning process and are adaptable. No one gets an idea right from the start, but successful entrepreneurs build a plan, execute on that plan, but most importantly adapt to that plan as new information became available.
Cristian: Most people think about accomplished entrepreneurs that they got lucky and they on the other hand would never get lucky. Is luck part of the entrepreneurial success?
Steve: There is certainly a randomness to the world and a number of variables that are outside ones control; however that is why self-awareness and adaptability are so important. If you are able to adjust to a constant moving landscape you increase your chance of success dramatically.
Cristian: When talking about the book you say that the paths of the entrepreneurs are different. In the same time, a lot of people are afraid to start a business because they don’t have a unique idea. Should this (not having an innovative idea) be a reason not so start a business?
Steve: Absolutely not. I know a lot of people that have started a business in which there was nothing unique about them at the get go. Many markets are constantly expanding and need increased capacity. I know many people in the distribution business that does not have any unique value add, but they execute efficiently and make a good living. I also have many friends that have used more traditional business as a springboard to other innovative products and services once they had a customer base. Often this is much easier because the customers know you and you know the customers. I think what is key is that entrepreneurs focus on bringing value.
Cristian: What about the crisis? From my own research, people think that the good times to start a business have passed and now is harder to become successful. Is crisis a challenge, an opportunity or both?
Steve: It is both. There certainly are challenges especially for businesses to fund raise. I think these challenges are far out weighed by the opportunities. There is so much working for entrepreneurs.
1) Communities and cultures across the globe are focusing on helping people develop the skills needed to start a business.
2) The costs of starting a business have plummeted. Whether software or physical products partnerships are easier to develop and Alpha and Beta products can get out the door at a fraction of the cost of a decade ago.
3) Perhaps most important the cost of reaching customers across the globe have decreased. This allows products targeted at a very specific niche to achieve profitability in a way they could not have a decade ago.
Cristian: You started your first business quite young. What were the factors that pushed you to start a business instead of a 9 to 5 job?
Steve: One of the most common experiences of the entrepreneurs through out my book was their memory of a supportive friend or family member at a young age. I was no different. I had supportive parents that even at a young age allowed me to succeed and yes fail at my ventures. The lessons I learned as young as 12 years old prepared me for my ventures later in life.
Cristian: You seem to be quite focused on helping other entrepreneurs succeed. Why is that?
Steve: I have always found purpose in entrepreneurship. Helping others succeed is my own selfish way of filling my own need for purpose. To me there is nothing more exciting than seeing a need in the marketplace and working to bring value to society by filling that need. What is exciting about DreamIt is that we are helping 10-15 companies a year go through that process.
Cristian: Founding DreamIT Ventures was a result of this?
Steve: Yes. I was fortunately to meet up with two other successful entrepreneurs, Mike Levinson and David Bookspan whom shared my passion for helping get businesses of the ground.
Cristian: How exactly does DreamIt Ventures help and support entrepreneurs?
Steve: We provide, a small amount of money, mentorship, space, donated legal and accounting and most importantly a community atmosphere in which each year 40-50 entrepreneurs are working in the same space to develop their businesses.
It was created as a pre-seed venture fund that nurtures enthusiastic, bright and motivated people with big ideas who can build a prototype, beta or market-ready product or service within three months. By providing the tools needed to flourish, this new model for funding simultaneously accelerates the development of new businesses and increases their likelihood of success.
In essence, DreamIt allows start-up companies to progress forward by eliminating as many risks as possible. For some participants who enter the program with an idea on a napkin, the three months is used to develop the product and eliminate the risk of building it. For companies with an early-stage product, the time period allows them to test, understand and refine its value to potential customers.
Cristian: How different is entrepreneurship around the World? Do things happen the same?
Steve: Amazing enough the skills developed to succeed are almost universal. What tends to be dramatically different are the cultural norms especially around risk. America for example, admires risk taking and we accept failures as part of the learning process. We celebrate those that are successful based on their own merits. Many other societies punish failure. Meaning that people in society that try and fail are looked down upon, often for life. In America we expect people to try and fail and we really respect those that try again.
What is shocking is how the Asian cultures recognize the importance of this and are working to change these societal norms often through government policies. They are working to bring capital to early stage entrepreneurs and focusing on their own immigration policies to recruit talent to their prospective regions. I would argue that above all else the reason America has been so successful over the last century is that our relatively decentralized society that allowed individuals to be rewarded for successful risk taking resulted in the best and the brightest from around the world coming to America.
Like current, which follows the path of least resistance, Entrepreneurs flow to the areas of the greatest opportunity.
Cristian: Who should read the book? Any specific demographic?
Steve: Certainly aspiring entrepreneurs, however I think there are many lessons that managers within any business can learn for and use to improve their own organizations. Oh yeah and parents, it is clear that successful entrepreneurs all had positive influences early in life the encourage them. Some parents even had extraordinary ways of teaching their children about business as early as 8.
Cristian: Besides the book, how can wanna-be entrepreneurs learn more?
Steve: Most importantly surround yourself with people that have gone through the startup process or are going through the process.
Top 5 Takeaways From Tiger Woods’s Latest Press Conference
Tiger Woods met with the media Wednesday in front of the Farmers Insurance Open and gave a reasonable way to deal with his PGA Tour return. You can see his full question and answer session here.
Underneath, we trimmed it down. Here are the five most interesting statements from Woods’ Wednesday press conference:
- On his expectations: “I think yeah, my expectations have tempered a little bit because I haven’t played. When I came back off my ACL injury in ’08 and started playing in ’09, it was nine months but I hadn’t played a full schedule prior to that. Here, I haven’t played a full schedule since 2015. It’s been a long time. To be honest with you, I just want to start playing on the Tour and getting into a rhythm of playing a schedule again. I haven’t done that in such a long time, so I don’t know what to expect. Just go out there and just play, I’m going to grind it, give it everything I possibly have if I put the ball in the right position and make some putts and try to work my way up the board.”
- On how desperate his back woes were: “You know, I tried all different types of treatment on it and we went – I went through every single procedure that is nonsurgical prior to getting it fused. I exhausted every single procedure I could possibly do and it just didn’t get better. So the surgery and fusion was the only step I had left. I was very lucky because it’s down at L5-S1 and it only has maybe six degrees of rotation, so it’s really not much at all so I got lucky in that regard. It’s been tough. I didn’t know when the back was going to go out. I don’t know if you guys were watching this past week with Freddie, how bad it was. He was fine and all of a sudden he makes a couple bad swings and there it goes. That’s very similar to how I was.”
- On getting his speed back: “I hadn’t felt good in four, five years. My surgeon, you know, he said from the get-go, once it’s fused, you’ll have – you’ll have speed like you did back in your early 30s. And he’s right because there’s no pain, I’m not flinching, it doesn’t hurt as I take the club back, it doesn’t hurt right before impact, it doesn’t hurt after impact, it doesn’t hurt when I walk. It was a tough go for a while and I don’t have any of those feelings.”
- On why he’s going without a coach (for now): “I’ve said it many times already, it’s just that no one’s had a spinal fusion at that level and be able to hit the ball that hard, as hard as I do. So I’d like to meet somebody who can swing it over 120 miles an hour with a fused back. Do you know anybody? That’s what I mean, no one understands that. So I have to rely own my own feels and play around with what my body can and cannot do. It’s not going to look like it used to, I don’t have the mobility that I do – that I used to and that’s just the reality. Now it’s just a matter of what can I do, and that’s just practicing and getting my feels and trusting, experimenting a lot to try and figure out what can this body do and how explosive can it be and how am I going to control shots with different shapes, am I going to have different feels. Some of that stuff is yes, some of that stuff is different and I’m still learning it.”
- On his plan early in the year: “I’m just trying to build towards April. That’s what I told you guys last year in the Bahamas, I’m looking forward to playing a full schedule and getting ready for the Masters and I haven’t done that in a very long time. That’s usually been my schedule and my outlook. From ’96 on it’s been that way to try to get ready for Augusta and there’s no reason to change that.”
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Top 5 Times Oprah Has Lost Her Cool On Her Talk Show
Here are the most effective crossroads in Oprah TV history when everyone’s eyes were on Oprah, and she lost her cool, cries on a show, lost her poise or even merely lost her brain, making all of us either cry or lowered that even Oprah is a slave to her feelings in some cases. Plan to go on the passionate, crazy ride that spread over a very long while with our dearest anchorperson. As we enter her last season, prepare for more Oprah crying minutes. Get ready to see her lose it all the more frequently as she directs some of her most enthusiastic Oprah interviews.
At the point when did Oprah cry on her show? There are a large number of illustrations when the normally quiet symbol loses her self-restraint, this rundown follows those minutes.
Oprah’s Heartthrob Surprise
Oprah Talks About Her Best Friend in the World
Oprah opens up to Barbara Walters about her association with Gayle King, her closest companion, and the lesbian gossipy tidbits that have surfaced irregularly consistently.
Around one moment into the clasp, Barbara requests that Oprah depict her intimate association with Gayle. Oprah takes over ten seconds to recover her poise and endeavour to answer the inquiry.
Oprah portrays Gayle as the mother she never had, the sister everyone would need, and the companion everyone merits. “I don’t have a clue about a superior individual.” She is exceptionally enthusiastic all through the clasp as she discusses Gayle.
This clasp is a capable demonstration of the actual truthfulness that has characterised Oprah’s vocation.
Oprah’s Tribute to Sophie, Her Faithful, Deceased Cocker Spaniel
Oprah commits a show to her dearest cocker spaniel, Sophie, who she had for a long time and had as of late passed.
The Oprah Winfrey Show group set up an introduction together for Oprah about Sophie and her opportunity as a significant aspect of Oprah’s family.
Oprah tells us previously she has not seen the video and is watching it out of the blue.
The video starts around thirty-five seconds in and includes some excellent photographs and video film of a delightful dark cocker spaniel going through her days with O. It proceeds until the two-moment stamp. At the point when the clasp comes back to Oprah, she is in tears with a Kleenex. She says she knew viewing the video would be hard and battles to get past her guide as she wipes her eyes. O instantly enjoys a business reprieve to get it together and “get [her]self together.”
It is reviving to see this reliable, rousing lady demonstrate a weakness for losing a cherished pet. It proves to every one of us that it’s alright to feel like the organisation we keep, human and non-human, don’t need to be blood-identified with feel like the piece of our family.
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Top 10 Quotes By Leonardio DiCaprio
Dissimilar to numerous previous youngster on-screen characters who tend to bite the dust (or blur into obscurity) in their teenager years and past, 42-year-old Academy Award victor Leonardo DiCaprio has gloated an unfaltering resume of film hits for almost two decades, from his terrible hand over 1993’s What’s Eating Gilbert Grape? To a featuring part in film industry sensation Titanic.
Notwithstanding his fantastic movie profession, Leo has utilised his Hollywood capital in various generous endeavours. He’s wind up one of the world’s best environmental change champions and backers for more stringent confinements on carbon emanations each shot he gets.
Indeed, he gave particular specify to the earth in his Oscar acknowledgement discourse for his work in The Revenant, entreating the group of onlookers to “work on the whole together and quit tarrying” when managing environmental change. These qualities are reflected in his everyday life; he drives battery-fueled vehicles and lives in a sun-based controlled home.
The following are 10 of the most motivating Leonardo DiCaprio that ought to urge you to deal with what makes you cheerful.
“Be thankful for the hard times, for they have made you” – Leonardo DiCaprio
“It’s easy to fall into the trap of believing all the hype that’s written about you… Who knows? In a couple of years, you might find me in the loony bin!” – Leonardo DiCaprio
“If you can do what you do best and be happy, you’re further along in life than most people.” – Leonardo DiCaprio
“Pay close attention to people who don’t clap when you win.” – Leonardo DiCaprio
“To believe in love, to be ready to give up anything for it, to be willing to risk your life for it, is the ultimate tragedy.” – Leonardo DiCaprio
“A wrong connection will give you shock throughout your life, but the right one will light up your life.” – Leonardo DiCaprio
“Everybody has gone through something that has changed them in a way that they could never go back to the person they once were.” – Leonardo DiCaprio
“I just really love doing what I do. I know every career is fleeting and there will be time periods when I don’t get the opportunities that I’m getting right now, so I am taking advantage of them.” – Leonardo DiCaprio
“Only you and you alone can change your situation. Don’t blame it on anything or anyone.” – Leonardo DiCaprio
“I really am motivated by being able to work with great people and create a body of work that I can look back and be proud of.” – Leonardo DiCaprio
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