Posts tagged characteristics of entrepreneurs
Are you an Entrepreneur? Here’s a Challenge for you
Dec 7th
I recently came across an interesting video from Stamford University’s Entrepreneurship program. A professor there came up with an interesting challenge for her entrepreneurship students. First she formed them into groups then gave them each “seed funding” of $5. The groups had 4-5 days to plan and then had 2 hours to make as much money as possible after their envelope was opened. Afterward the groups presented their findings and outcome in front of the class.
There were some really creative ideas. The team that generated the most money actually ended up selling their 3 minute presentation slot to a company interested in recruiting the students.
Some ideas that I think would do quite well include:
1) Buying tickets and cans then raffling off “dates” for group members. (This depends on the attractiveness of the group members. This could also be an auction where the highest bidder wins the date)
2) Massages for $X or doing them free for donations.
3) Hold a focus group for businesses in the area so they can better understand and reach college/grad students. Call restaurants and solicit food donations. This focus group concept could be held for almost any vertical. You could simply give the participants a free lunch and charge the companies $10-$20.
4) Hold a educational session on how to use twitter or new media to grow your business. Again lunch would be provided through solicitations and you would charge people to attend.
5) Call a magician or other skilled person (artist, musician, etc) and invite local parents and kids (or the talent’s target market). Convince the talent to perform for free to get his name out there and request $10 for admission for attendees giving half to charity. People give their money away a lot easier when they know a portion goes to charity. You could also get food donated for this event as well.
Well it’s late and that’s all I got for now. I may add some more later.
What do you think about this challenge? Which was your favorite of my ideas? What would you do with $5 and 2 hours to generate the most money possible?
New Beginnings
May 15th
We’re in the midst of the worst economy since the great depression. People are getting laid off or fired everyday and thousands of college graduates (and millions of others) across the country are struggling to find a job. With that said why in the world would I choose to quit my job now?
Allow me to explain…
First off let me say that I not only quit my job, but a job at a really great work environment with awesome people and fun/unique company culture….Where else do you ring in new hires with tequila shots, have cubicle decorating contests and plow your face into cake on your birthday & anniversary of employment? Of course I’m talking about IZEA, a top social media marketing company that operates SocialSpark, PayPerPost and more.
So the question I know many people are thinking…Why the H*ll did you quit? or What is he thinking?
Well I have always been a person that doesn’t shy away from challenges. I have also always trusted my gut, which was one of the main reasons why I moved to Orlando in the first place. I knew no-one in Florida, but something told me this was the right choice. That decision turned out to be one of the best decisions I’ve ever made and over the last 2 years I’ve accomplished a great deal.
Besides trusting my gut I also moved to Orlando to be in a fertile environment to grow my own ventures. My goal has always been to create jobs for others, not be bound by an hourly job and to grow extremely wealthy in the process. Then be able to give back and help other young entrepreneurs achieve their dreams.
With these goals constantly in mind I came to the conclusion that IZEA has done all it can to assist me in reaching them at this stage in my life.
I’ve really enjoyed my time at IZEA, feel that I have learned a great deal and built relationships with a lot of great people, however now is the time for me to go hard after my goals. As time passes many people sink into a mode of comfortably and they stop striving and are content with their current situation. Though this is completely alright for some people at this point in my life this is not okay for me. At this time I have no children to pay for and no major expenses. There’s no better time for me than right now. If you desire to reach your goals no matter what they may be you have to go for it. When there’s more risk, there is a greater chance for more of a reward. In addition to that my dad taught me a long time ago that you improve and grow the most during periods of uncertainty and turmoil. If you’re not working through problems or challenges your performing not growing. I recently saw a great quote on Drew Mclellans blog: “Courage is not the absence of fear but rather the judgment that something else is more important than fear.”
That quote really sums up how I feel and why I did what I did. I have so much of a desire to achieve my goals that fear seems very trivial in comparison. Some may call me foolish, some may call me outright stupid, but the way I see it it needed to be done. I have full confidence in my abilities and in god and know I will make it work.
Stay tuned…
More to come
