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Name: |
Tamecca Anthony |
Title: |
President |
Company: |
Element 9, LLC |
Location: |
New York, NY |
What I do: |
Advise clients on the best technology and design |
Web Site: |
http://www.element9.com |
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Nature of Business: To advise clients on the best technology and design (branding/marketing) strategy to achieve their business objectives
To me, entrepreneurship is curiosity, risk, innovation, creativity, opportunity, leadership and most importantly a constant challenge and challenger to the status quo. Most people equate entrepreneurship to taking a big gamble, quitting a day job and hanging a symbolic shingle that states “I am the boss”. However, entrepreneurship is more than abandoning a steady paycheck, rather entrepreneurship is the opportunity to be an advocate and seize the opportunity to develop a catalyst, product or service that promotes change. Entrepreneurship involves a great deal of uncertainty, but it also requires preparation and can flourish within the confines of the “establishment” -- large organizations, venture capital firms and even social enterprises. So an individual does not have to be an independent small business owner to possess the character and skill set of an entrepreneur. Entrepreneurship is recognizing that you have something that can benefit an audience and possessing the “intelligence” (the idea, strategy and resources) to give the audience access to that benefit. Try to avoid the trap of thinking of entrepreneurship as a package or packaging – “she has the makings of an entrepreneur because she takes all the risk, he has the makings of an entrepreneur because he loves business and devours the Wall Street Journal from cover to cover.” Some of the greatest entrepreneurs were ordinary people doing extraordinary things not in private enterprise but in other movements such as the American Civil Rights Movements. An entrepreneur can be a preacher, school teacher, lawmaker or any other vocation, but it’s how these people use their intelligence and opportunity to lead that results in entrepreneurial pursuits. |
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The most important lesson I have learned is that you should always be in a constant state of learning or growth. Thus said, I would share the following pointers that will help any entrepreneur to constantly grow and self-evaluate along the way.
1. Amass wealth through experience and constant exposure. Absorb as much information as possible by interacting with people and reading. Conduct information meetings throughout your career/business lifecycle. Being a great entrepreneur requires the ability to easily interact with people from all walks of life. You have to use your instincts and keep a mental rolodex of people, places and resources.
2. Seize and create opportunities. When you’re just starting out no opportunity is too small. Consider interning, volunteering or work part-time in the industry that you have an interest in.
3. Take initiative. This may seem redundant to items #1 & #2, but stop waiting for something to happen, make it happen. It is better to try something than nothing at all. You can start in the classroom by making recommendations that can benefit your classmates, your school community/environment, the faculty or support staff.
4. Assemble mentors, advisors and a cheering squad. Obtaining the support of family and friends can be especially helpful for a young entrepreneur because these people know you well and are likely to invest” sweat equity” and perform grass root marketing on your behalf. Remember, your parents are likely to be your first investors.
5. Make sure you are “creditworthy”-- financial and professionally.
a. Financially, monitor and build your credit. Spend wisely. When making “new” purchases think about how these items can be employed in your business (e.g. laptops, trips (conferences), courses, digital camera, software). If you plan on starting your business from home or with little or no bank financing familiarize yourself with business taxes. It can be as simple as reviewing the deductible items on a Schedule C. This will help you to start thinking like a business owner. Simply keep a blank Schedule C form on a bulletin board to serve as a reminder and start to track your expenses and save those receipts.
b. Professionally, always document your work, obtain testimonials, references and retain performance evaluations and surveys whenever possible. You should be doing all of this even if you work a “9 to 5” or volunteer. If you volunteer to be the production designer for a school play make sure that you photograph your work, or if you volunteer to do the marketing for a community event keep several copies of the promotional materials that you produced (e.g. flyers, posters, t-shirts).
6. Know your value. You should always be able to quantify the value of your product or service. You can determine your value by examining the work your have performed and experience amassed (see item 5b). Determine what your consumer audience is willing to spend on your product or service or the value of audience input. For instance your business model may be dependent on the amount of time people contribute (e.g. volunteer hours) or their opinions and influence (e.g. votes, survey participation). Even if you volunteer and do pro bono work know the value of your “work” (e.g. time and materials or value of deliverable). Moreover, factor in competitive value or edge. Is your product or service more superior, more affordable,easier to operate, easier to access. |
I want to encourage you to be prepared for the challenges that await you, have faith and couple faith with instinct. Entrepreneurship can be “fun”, but it’s not "fun & games". You have to take formal and informal education serious. I would also encourage a young entrepreneur to think global – travel as much as possible, learn a 2nd or 3rd language and learn the informal and formal business practices and customs of various cultures. It is important to know international practices and customs because some may be barriers or limitations if your business model challenges long standing gender roles, religious orders or an eroding value system. |
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©Copyright 2006, The Good Ground Project. |
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