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Entrepreneurial Success 101: The Entrepreneur Revolution Series

The Power of Entrepreneurship by KA&CO International

The FASTEST-GROWING careers WORLDWIDE include:

Information Technology or IT, Business Development, as well as, any of the S.T.E.M. Disciplines.?

However, the fastest-growing wealth-building sector in the world is still, ENTREPRENEURSHIP.

?Specifically, everyone knows that the best way to…

1.?take your life to an all-new level,

2.?leave a legacy and,

3.?build wealth for your family for generations to come

?…is to be an entrepreneur.

Studying entrepreneurship, gives every student an edge in the real-world, whether they intend to be an employee or open a business of their own. –Kareem Jackson, STI College Entrepreneurial Success 101 Seminar, Philippines

As an employee, every ‘boss’ and/or owner, values employees who can understand, relate and be conscious of the way ‘the business’ works.?An entrepreneurship-centric employee pays more attention to waste, efficiencies, quality control, and the culture of the company.??

As an entrepreneur, early study of entrepreneurship; the benefits and liabilities alike, enables you to appreciate, visualize and begin on the path to financial-freedom, legacy-building and business-development.?

Young entrepreneurs, typically possess an inherent advantage that ‘youth’ offers.?

Everything to gain.?Nothing to lose.?

It’s best to start, and experience entrepreneurship early in life as the risk and personal investment threshold is low.?Once we have acquired debt, homes, cars, and families of our own, it is increasingly harder to take the necessary risk, sleepless nice, ultra-focus and rollercoaster lifestyle entrepreneurship requires from everyone.

Risk vs. Reward.?Entrepreneurs are driven by ‘what could be’ or the massive ‘potential’ benefits (cash or social-entrepreneurship rewards) which the success of their idea and/or venture can create.?True-entrepreneurs ‘create’ something, from nothing.?Perhaps they invent the light bulb, or they mass produce the automobile, or they take something common and market it to the world.?Either way, at their core they are visionaries.?

Welcome to the entrepreneur revolution! This ebook is your first step in the journey.

Entrepreneurship Success 101 is designed to engage, inspire and enlighten the attendees about the opportunities of entrepreneurship.?Also, to arm the students and/or attendees with empowering confidence, certification for their resume/CV’s, and needed exposure in an effort to stand out amidst a growing post-graduate career-seekers market.?

The Author, KA&CO CEO, Kareem Jackson, gives hands-on, first-hand, true-tested insights into:

ENTREPRENEURSHIP is a DISCIPLINE.?

10-Steps To Entrepreneurial Success

1.???What is an entrepreneur –really?

2.???Know Your Lane…Defining Your Personal Success Goal.

3.???Know The Market…Not Yourself.

4.???The Law Of Attraction & The Power of Successful Networking.

5.???Vision.?The Power of Successful Entrepreneurship.

6.???Sales &The Power of a Good Business Success Plan.

7.???How-To Start With NO (or little)CASH MONEY.

8.???Respect The Small Guys.

9.???Prepare To Sacrifice & Fail and

10.?Focus.?Stop Talking.?Start Doing.

AN OVERVIEW.?Beginning with a 10-minute, impromptu, meet & greet, pre-mixer; complete with music, punch, coffee or tea, and snacks, as the seminar kicks off.?

THE PURPOSE of Entrepreneurship Success 101 Pre-Mixer is to teach the attendees/students “The Power of Networking” via osmosis and subliminally.?In addition, to enable The Host, to see how/if the attendees/students, already ‘know’ what ‘networking’ is.?It also loosens everyone up, relaxes them, and gets the attendees focused –as well as, gives a discussion platform for the seminar.

ENTREPRENEURS SURVEY.?Another big directive is the ‘Entrepreneurs Survey’ form which is then passed out to and filled out by the attendees (or online ahead of time).?The survey, is another tool used to enlighten the attendees on ‘what entrepreneurship really is’ and what is ‘Successful Entrepreneurship’ to them as an individual??

It also includes an allotted time for, Ask Kareem??In which the attendees can ask a question to be answered by The Host(s).?A key component of ‘Understanding The Entrepreneur’ is to understand how we all fit into ‘The Entrepreneurial Mix’.?Especially, when it pertains to successful entrepreneurship and small-business entrepreneur strategies.

?WHAT YOU WILL LEARN…

Question:?What is an entrepreneur –really?

The attendees are then taken through a highly sought-after consultation, ‘Kareem Jackson LIVE! ON THE SET’ interactive Q&A Session; in which, the attendees are asked, what they think an entrepreneur really is.?

You can ask your questions at: [email protected]

With examples of the (often overlooked and under-valued) jeepney and pedicab driver, sari sari store owner, to Mega companies such as Apple, Facebook, Inasal, and SM.?The student/attendees are encouraged to understand the fact that ALL BIG BUSINESSES COMES FROM AN IDEA.?

Therefore, true-entrepreneurs see ideas as currency.?The entrepreneurs' ability to ‘sell’ that idea and/or bring it into reality is the skill; often a skill learned by acquiring your MBA or hiring someone with one. ?In terms of IT and Tech Industry in Silicon Valley, California, USA, some ideas bring in hundreds of millions of dollars in seed capital from investors who believe in your idea and vision and would like to help you succeed.?Though it doesn’t happen overnight, of course, it may take decades of passion, sweat equity, sacrifice, and failures.??

Subsequently, money, revenues, profits, and ROI are outcomes or derivatives of that idea –and its variations. ?

Know Your Lane…Defining Your Personal Success Goal.

There are 6-Phases of ‘The Entrepreneurs Life’:?

1.???The Student,

2.???The Employee,

3.???The Self-Employed/Amateur Entrepreneur,

4.???The Big Business Owner,

5.???The Passive Investor and

6.???The Philanthropists.?

For most of us, we travel through the 6-Phases of ‘The Entrepreneurs Life’ and stop where we feel comfortable –if ever.?In some cases, you may ‘live’ in one phase or another, but then dabble in another phase from time to time.?

Some entrepreneurs truly feel pleasure doing the work themselves as a self-employed person, others realize their limitations of operation and are better as a big business CEO expanding and pushing the vision further, while others of us simply invest in the ideas and endeavors of other successful entrepreneurs.?6-Phases of ‘The Entrepreneurs Life’ helps you define your unique form of ‘success’ and happiness for yourself.?

However, as an entrepreneur, you must know your lane or you’ll never succeed –or at least you’ll never ‘feel’ successful.?As an entrepreneur, your ‘phase’ is defined not by your skills, but by your ambitions –regardless of ‘where’ you are today.?

Your Phase Is Important:?Your ‘phase’ (especially when doing business and dealing with CPA’s in the US) is also expressed in everything from your job titles, to your business documents, tax returns, access to information, networking efforts and/or vocabulary.?Words define your real-life perceptions.?

For example, an employee uses words such as:

·????????Buy (things, shoes, etc.),

·????????Security,

·????????Low/No-Risk,

·????????Borrow/Debt

·????????Shop and

·????????Save.?

An entrepreneur uses words such as these words:?

·????????Buy (businesses, deals, etc.),

·????????Research/R&D,

·????????Risk-Management,

·????????Invest/ROI,

·????????Asset,

·????????Liability AND

·????????Derivative.?

Know The Market…Not Yourself.

Knowing yourself is very important; as this ability will enable you to build your 'success team' and network (we will talk about networking later).?

However, as an entrepreneur, we must know ‘The Market’ he/she intends to serve, and/or we must study the market (R&D, Legislation, and/or Market Analysis) in order to see where the opportunities are –and will be in the future.?

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Many ‘self-employee-minded’ people tend to get into businesses (and locations) which they personally have the skills and knowledge ‘to do’ the ‘work’ themselves.?

For example, a cook/chef opens a restaurant, a barber/hairstylist opens a barbershop/salon and an IT grad opens an IT/web building business.?There is no growth in doing what you already know.

In some cases, this is preferred.?However, it is not ideal.?A true-entrepreneur studies ‘the market’ then, and only then, do they decide ‘what’ business, product, service, etc. they will venture into.?In some cases; if you’re lucky, it -coincidently- is in the area of your study or expertise.

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The Law of Attraction & The Power of Successful Networking.

Fact:?ENTREPRENEURSHIP IS A LIFESTYLE. If you surround yourself with working-class people, you will be a worker.?If you are surrounded by drug addicts, chances are you will become an addict.?The same can be said about business-minded and entrepreneurship-minded people.?

That being said, nothing is wrong with working-class or employee-minded people; on the contrary as entrepreneurs, we always need qualified and talented employees to execute and manage our visions and endeavors.?

However, ‘The Law of Attraction’ can be fatal for the entrepreneur.?If you spend 80% of your time trying to defend, convince and/or argue with those who do not understand nor support your entrepreneurial lifestyle and ambitions, you leave only 20% of your time and brainpower to ‘do’ or achieve your ambition.?

In addition, it can be exhausting, depressing, invite negative, intrusive thoughts of self-doubt and ultimately undermine or completely devastate your goals.?‘The Power of Successful Networking’ can take you to heights you never imagined.?Imagine being surrounded by people who push, support, and empower you to grow, do and achieve your dreams of entrepreneurship and life.?

Eventually, these same people become your first sounding board members, investors, customers, promoters, and fans.?Ultimately, everyone who surrounds you is mutually-supportive –meaning you support one another. ?Thus, making success in your endeavors and life as an entrepreneur increasingly easier, faster, and seemingly effortless.?

“It’s lonely at the top.”

The ‘Law Of Success’ is the reality that in order to succeed at anything in life you will undoubtedly stand out, have those who oppose you, and possibly always stand alone.?

Just as in school when you are The Top Honor’ or ‘’The Top Score’ and/or ‘The Valedictorian’ or the equivalent in business.?

The ‘Crab-Mentality’ is real and it is never stronger than when you’re an entrepreneur.

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?Vision:?The Power of Successful Entrepreneurship.

“I believe I can fly…I believe I can touch the sky.?I think about it every night and day…If I can see it, then I can do it.” –R. Kelly

In 1996, Grammy Award-Winning Black American R&B singer, R. Kelly released “I Believe I Can Fly” on his Space Jam album.?It was –and still is- one of the most-popular, memorable and inspirational vocals in the world.?It was a song and vocals which the ‘world market’ can relate to. It is a clear and exact message about ‘The Power of Vision’.?

Vision: The uncanny ability to see something –in detail- before it exist in reality.?Not to be confused with the cousins of Vision; imagination, dreaming or an idea.?Vision, is the most-powerful ability of the true-entrepreneur.

If you are buying a franchise, network marketing, copying another business or their business model or simply acquiring and improving on an existing business, then ‘Vision’ may not be that crucial to your success –and usually, your height of success is limited.?Especially when doing business globally, proprietary, original Vision and thought are required –or risk being sued for intellectual property theft.

However, a true-entrepreneur, using original ideas and thought, must visualize his outcome or he will never be able to obtain ‘buy-in’ nor explain it to potential investors, partners, employees, customers, and ultimately make it a reality.?

Imagine.?At one time the mobile phone and subsequent cell phone of today did not exist, the car/automobile, electricity, irrigation and franchise businesses model were just ideas from ‘crazy’ people.?Now, once poor or deemed insane, the Ford Family, Bill Gates, Paul Allen, Thomas Edison, Benjamin Franklin and Ray Kroc are some of the richest people in the world; who at one time were running around peddling their Ideas and Visions.???

?Sales & The Power Of A Good Business Success Plan.

“Fail to plan. Plan to fail.”

“Fail to plan. Plan to fail.” is a very powerful entrepreneurial statement.?It doesn’t necessarily mean that you need to produce a 500-page business and financial plan to succeed as an entrepreneur today.?Nor, does it indicate that failure is guaranteed if you have no plan.?Sometimes ‘Instinct’ is enough.

What it means.?Even if just in your own mind (remember Vision is powerful) you must have a plan; a step-by-step road map to achieve your goal.?Every successful business, deal or venture starts from nothing. Ground Zero.

It (a successful business or venture) starts with a need/opportunity in the marketplace, an entrepreneurial idea, and then a plan.?A plan on how to sell the idea, to friends, spouses, etc.?It can be as simple as, “I plan to connect with a farm, develop my own juice, bottle it, market it, ‘sell-it’ to wholesalers, and do it better than anyone else.” Then, you can start micro, small, launch with a few cases for example, test the market, then ‘sell out’ (of the initial stock) and QUANTIFY.?

QUANTIFY: earn back your initial investments, then scale it, expand, re-asses and expand.

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?How-To Start With NO (or little) CASH MONEY.

The #1 FALSE BUSINESS BELIEF is that you need money to start a business.?Not True.?

As an entrepreneur, with Vision, creativity, and powerful networking skills, you see everything as revenue –a tool.?In many cases, at least in the initial phase of the venture, when you have a proven track record and/or excellent salesmanship, you can ‘sell’ an idea for cash, in-kind investments, leases, terms, exclusivity and so on.?

The reason many people need capital/cash to start even the most-simple venture is because they need the cash to ‘pay’ for others talent, knowledge, work, connections, rent and/or products.?Also; a mistake of many entrepreneurs especially when they come from the employee sector, is their need to maintain their ego: using the start-up cash to maintain their own lifestyle, ego and/or give them personal (non-taxable) income to pay their personal expenses.

It’s slightly illegal in the West, where pretentiousness is frowned upon and ‘rags to riches’ is highly-revered.?And, in many cases it is seen as embezzlement and many savvy investors are keen to this –popular- misappropriation of funds.?A sure sign of an employee wanting to ‘look rich’ is the pomp and circumstance, material wealth which true-entrepreneurs frown upon.?It’s very difficult to build a successful and profitable business when your personal expenses are more than the business.?

Subsequently, they ‘invest’ the cash, only to need to be in huge debt before the business or venture has even proven its potential.?Savvy entrepreneurs know “The Art of the Deal” and can often get as much as 100% of the start-up cost for free; either in sweat equity, in-kind, trade or terms.?Therefore, limiting (not avoiding) risk, putting them in ‘profitable’ status almost immediately–atleast as it pertains to their personal investments.

NOTE: By the way, these and others are all ‘terms’, ‘terms’ and/or ‘deductions’ the US IRS, CPA’s and accountants are familiar with. ?But, not usually understood nor documented by most small-business and employed people.?In America, ‘friends and family’ investments, trade, in-kind, and sweat equity are all tax-deductible or tax-valued, and recognized as part of a business’s evaluation. ?In the US there is even a ‘Trade Exchange’ like the Stock Exchange as ‘trade or x-deals’ typically hold higher-credibility for company evaluations.?

For example:??Imagine, The Olympics was to be held in Manila.?You anticipated over one hundred thousand (100,000+) people from all over the world would be in the city.?You convince me (say your uncle or a car leasing company) to let you borrow my car for 30-days for free, then you acquire a gas credit card from Shell, you market “Airport Pick-Up Service By Professional Driver” and BOOM! you are fully booked and earn a lot of cash in 30-days.?That’s R&D.?Now, equipped with ‘real’ data, you decide to lease a car full-time, you pay your gas card bill and then prepare the proper documents, etc. now that you see it is viable.?Next Level:?Uber, Grab and Go Bounce.

Respect The Small Guys. (& Gals)

Every big business starts small.?Any small businessman/woman can someday make it big.?Western economies are geared toward ‘the small guy’ and rags to riches stories are the pride of America.?

In addition, the Philippines; the world’s fastest-growing economy, boasts millions of new-rich foreign and local millionaires who have made it big, by doing small seemingly simple things well.

Many of the most under-appreciated potential millionaires, such as the pedicab and jeepney drivers, food vendors, and domestic staffers have the potential to take their businesses to the next-level.?Also, many want-to-be entrepreneurs can learn huge insights from these types of ‘self-employed’ entrepreneurs.?Everything is relative: the mindset and lifestyle of a micro, small-business, and self-employed entrepreneur is relatively the same as a big business entrepreneur or investor.

For example:?A jeepney driver, has his ‘business’ the jeepney, and ‘overhead’, the jeepney rent/a.k.a boundary.?Then, the jeepney driver has ‘cost of doing business’ such as gas and maintenance, they also have ‘sales’ and ‘customer service’, or a ‘barker’ assistant.

As well as, ‘employee benefits’ such as paid lunch, cigarettes, load, cell phones, and beverage costs.?When you quantify this by 5,000-times (for example), you have a taxi company, or a limousine/livery company, a private helicopter or jet charter service, a busing company, etc.?The fundamentals and ‘mindset’ are the same.

Prepare To Sacrifice & Fail.

Entrepreneurship is simple…but it’s not easy.?The thought process is simple, but focus, tenacity and making the needed sacrifices can be impossible for individuals who value safety and security.?Many popular and successful entrepreneurs have been homeless, bankrupt, divorced, solo, lost friends, endured ridicule, immense self-doubt, been required to downgrade their lifestyles and even risk their liberty.

Your amount of sacrifice and risk of failure, will ultimately depend on your expected rewards -usually.?‘Investing’ to be a jeepney driver has less risk than, opening your own taxi company or buying a fleet of jeepneys you intend to ‘lease’ to drivers.?Starting a fried chicken food cart is much less risky, than starting a fried chicken restaurant or food chain.

Either way, it will benefit you to be proactive and abandon the false notion that you will always succeed.?Fact:?The most-successful people/students in school/youth will usually not be the ones who succeed in true-entrepreneurship.?They have nothing to prove, they typically are not used to (and therefore fear) failure and will not take the risk required to succeed in entrepreneurship.

Also, one benefit is that being a ‘fearless’ individual is that over the long-term, over an entrepreneur's lifetime, they will be the beneficiaries of others who have quit, abandoned, and left opportunities prematurely.?

For example: In the beginning Apple Inc. (the world’s most successful and profitable company and entrepreneurs), was started in a garage (as a unpaid sideline or part-time job), by 3 young dudes/geeks in California, USA (Steve Jobs, Steve Wozniak and Ronald Wayne) with an innovative idea.?

They sacrificed, and sold their VW bus (van)and scientific calculator for around $1,000 to start the venture.?They later almost went bankrupt and the original 3rd founder; Ronald Wayne abandoned them and ‘the idea’, and demanded they gave him $800 to buy his interest in the venture.?

F.E.A.R. is Deadly.

Imagine the massive number of amazing, innovative, and life-changing inventions, business solutions, and ideas killed by one thing –F.E.A.R. or False Evidence Appearing Real.

Fear of failure and a low-risk tolerance made Wayne give up (though he was actually the one who created the original logo, computer, and the company manual) Now, Apple Inc. is on track to being the world’s first trillion-dollar company; his $800 in shares would be worth around $40 billion today.

Focus.?Stop Talking. Start Doing.

Entrepreneurs are often over-focused, they are seemingly obsessive, talk a lot about things they’re passionate about and they love to ‘do’ things rather than watch what others are doing.?

A unique ability possessed by entrepreneurs is the ability to focus successfully on the distant goal(s), the 'big' picture, high-demand solution, or life-long vision while executing through huge amounts of minutia, practical operations, details, and day-to-day struggles which are experienced by everyone.?Once achieved, everyone wants to know ‘how did you do it?’ of course.?

However, every true-entrepreneur knows, there are 4 Real-Life Secrets To Achieving True-Success:

1.???FOCUS.?Stop talking and watching what others are doing, and start doing it yourself.?

2.???BALANCE.?Life is not all about work or money.

3.???MONEY. Another secret is that money, is ‘the outcome of other things done well’ and,

4.???FAILURE.?You only fail if/when you quit.

PERSONAL SUCCESS VISION& GOAL.

All the experiences were leading up to one final insight... ??

College Prep for Real-World Success is a key outcome goal.?The Personal Marketing Plan, though preliminary, is a powerful exercise, to get the attendees ‘thinking’ and ‘focused’ on specifically ‘what’ and ‘how’ they will be striving to achieve themselves once they leave the seminar and are back in your day-to-day lives.

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BONUS CHAPTER | THE POST PANDEMIC ENTREPRENEUR

The Coronavirus and subsequent global lockdowns changed the game of entrepreneurship. Besides the “Entrepreneurial Revolution,” there is also, “The Great Resignation” rolling across the world.

The heaviest hit was the United States, and the UK, allowing the rest of the world to catch up in many sectors…

But, most importantly, is the rise of the seemingly racism-free internet, online business, eCommerce, and the rise of social media.

Today, the corner taco shop and the small town online boutique can have more sales and customers than the local Taco Bell, or Mall Boutique.

As bookstores like Barnes & Noble shutter, billions are being made from eBooks, eMagazine, and digital goods.

That being said it has never been easier to “be your own boss” than it is today.

Just 10 years ago, becoming an entrepreneur took leases, employees, inventory, desks, restrooms, storage, vehicles, and tons of ‘red tape’ before you could even have your grand opening.

But now, that has all changed; and savvy pre-pandemic entrepreneurs and companies also enjoy the benefits as well.

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10 Post-Pandemic Online Entrepreneur Opportunities:

1.???Low and FREE entry into the market.

2.???Potential Global Client Base.

3.???Potential Global Talent Pool.

4.???Potential Global Partnerships.

5.???No Overhead.

6.???50%+ Off Operational Cost.

7.???Seemingly Racism-Free

8.???Advance Payments

9.???24/7 Cash Flow and,

10.?Remote Work-Ability

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