Don’t make anything until you sell it

As an Entrepreneur, there is one thing that you are sure to be doing from beginning to end in business and that is sales. You may begin by selling the concept of the company, then proceed to sell the prospect of return to potential investors (angel, seed, venture), to finally selling the product or service that you are so enamored with.

Do not fool yourself, unless your passion turns into action you may be setting up yourself for failure. How do I know this? I have listened to those who didn't do know how to sell well (ideas etc) and not surprisingly didn't succeed. If you want to actually live your dream and achieve your goals for your start-up, learn sales.

How?
Understand as much as you can about what you are doing, the business you are trying to build, product you want to sell etc (In a word, Research). Remember, everything (a product, service etc) is about people, get away from the computer and actually talk to ________your answer should be (people) especially those in your target market (customer segments). Take my hate to blog, think fast but type slow foolish advice, Sell. Ok, that's enough motivation now go and sell it.

Don't go in Blind - Research is key for start-up success

Whatever your age, whatever the nature of the business, knowledge is key. Do not go into the situation blind, drunk on passion and idealism about money making. Get as much information as you can in order to make informed decisions. This is especially important in light of the fact that a lot of the money used for start-ups come from friends and family. Without adequate information poor decisions are often made, turning the angels into demons (oh and don't forget that the demons come for Christmas dinner or live down the hall).

Loss of money often leads to ruptured relationships, so if you value your relationships do your research. Don't lose money because you were too lazy to read or call somebody to ask some questions. Entrepreneurs must strive for fairness and good structures early into the process of starting the business (If you can afford get a lawyer and an account, formalize as much as possible how your business works).

Research can range from systematic Market research to simply spending the time to write a good business plan. Yes, you have heard it a thousand times before but this process is key in developing a deep thorough understanding of the business. Without adequate research, the challenges faced by an Entrepreneur are immediately compounded. In addition to Market Research and the writing of the Business Plan it is wise to get some good advice (find a board of advisers if you can).

Social Entrepreneurship - How about that?

Yes, It  is me again! Reporting on my gleanings from my class Entrepreneurial Skills in Communication Industry (COMM 3248). Today, we will be paying attention to the new kid in class, Social Entrepreneurship.

Who is he? I don't quite know. I could ask him but he doesn't quite know either (He's still finding himself). Let me decode that for you smart people, Social Entrepreneurship is a young discipline of which scholars are still making sense. Here is what is known,

"Social entrepreneurs are individuals with innovative solutions to society’s most pressing social problems. They are ambitious and persistent, tackling major social issues and offering new ideas for wide-scale change"

So Social Entrepreneurship as the name suggests has a different underlying philosophy than traditional approaches to Entrepreneurship since it seeks some form of general good not only individual profit. It seeks to solve some social ill or at least make significant inroads in changing lives through innovation and business savvy.

Social entrepreneurship signals the imperative to drive social change, and it is that potential payoff, with its lasting, transformational benefit to society, that sets the field and its practitioners apart.

That said, there is hardly any real clarity about what the term really means because as you may have noticed, the definitions are quite inclusive. 

What it is not?

• It is not Philanthropy. Even though many people who may contribute to Social Entrepreneurship may be identified as Philanthropists. 
• It is not a Not for Profit entity (although some may operate in that manner)

Are you keen on helping society to become "unstuck" by changing the system then Social Entrepreneurship might just be your cup of tea. I end this post with a quote from one of the leaders in the movement. 

"Social entrepreneurs are not content just to give a fish or teach how to fish. They will not rest until they have revolutionized the fishing industry."

Bill Drayton, CEO, chair and founder of Ashoka

So, how about it? Again,  google it, it might just be the beginning of great things for you. 

Check out the links below for additional info...

http://www.ngobiz.org/picture/File/Social%20Enterpeuneur-The%20Case%20of%20Definition.pdf

https://www.ashoka.org/social_entrepreneur

http://www.pbs.org/opb/thenewheroes/whatis/

Mentorship (Reflections on the film American Gangster)

Clearly the idea of making my thoughts public on the internet is not very alluring. That of course makes me possibly the worse blogger in the world. Nevertheless, see if you can extract anything of worth from the black drool I will be spilling out below known officially as paragraphs.

If you have read my first post you will know that this blog is designed to document what I am learning in my Entrepreneurial Skills in the Communication Industry class. This my second post is about movies and what they reveal about Entrepreneurship. In class we were placed in groups, then each group was instructed to watch a Movie and identify the principles relevant to Entrepreneurs.

My group reviewed, American Gangster, actor of worth Denzel (I say no more). Anyway, to the point of the post. MENTORSHIP IS A BIG DEAL! To say it another way, get some good advice. This could range from a Board of Advisers to a single person that you can meet with say once a month of more often if time permits. This person or group of persons will help to nudge you in the right direction and provide objectivity since Entrepreneurs especially the young ones often have tunnel vision.

This is not a movie review so I won't say much about the movie except this, with guidance from Bumpy Johnson ( Clarence Williams III) Frank Lucas (Denzel) became the most successful business man in Heroine infested Harlem. Watch the movie and see how he built the brand "Blue Magic" or do like the rest of us and Google it. Whatever you decide to do remember that Mentorship is useful. So who do you know?