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Argentina’s Globant Raises $59 Million on NYSE; Second-Ever U.S. IPO for an Endeavor Company

Argentina’s Globant, founded by Endeavor Entrepreneurs Martin Migoya, Guibert Englebienne, Néstor Nocetti and Martin Umaran, had its U.S. IPO on July 18th, raising nearly $59 million. The Buenos Aires-based software development giant has become one […]

July 21st, 2014 — by admin

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Endeavor Entrepreneurs Featured in Drucker Institute’s Monthly Radio Program

The Drucker Institute, a think tank based at Claremont Graduate University, traveled to the Endeavor Entrepreneur Summit in San Francisco to speak with nine Endeavor Entrepreneurs from Latin America, Africa, and Europe. The interviews highlight […]

September 25th, 2013 — by admin

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Endeavor February 2012 newsletter

To view Endeavor’s February newsletter, a recap of all the top news stories from the previous month, please CLICK HERE.

Reminder: To receive our monthly newsletters by email, please enter your email address in the sign-up box at the bottom of our homepage.

Endeavor launches in Indonesia!

It’s official: Endeavor has launched in Indonesia! With approximately 240 million people, Indonesia is Endeavor’s biggest country, and signals Endeavor’s formal entry into East Asia.

Endeavor’s presence in Indonesia will start in the capital of Jakarta, located on the island of Java, the most populous of Indonesia’s 17,000 islands. The office plans to expand its presence throughout the country, locating high-impact entrepreneurs in every province.

We are proud to welcome Sati Rasuanto as the new Managing Director. Formerly, Sati served as Chief of Staff to Gita Wirjawan, then Chairman of the Indonesia Investment Coordinating Board and the new Minister of Trade, helping to shape Indonesia’s development agenda and formulating strategies to increase investment flows into the country.

As another major milestone, we are pleased to announce the board of directors, comprised of many of the country’s top business leaders. The complete list appears below.

Endeavor Indonesia has already begun building a Search & Selection pipeline; the first entrepreneur candidate is slated to present at Endeavor’s International Selection Panel next month in Dubai.

“The timing for Endeavor Indonesia couldn’t be better,” says Sati. “Entrepreneurship is really taking off. Just look at the mobile technology industry. Mobile penetration has tripled in the last five years, with the majority of growth coming from a younger, less affluent Indonesia (half of the population is under the age of 29). High-Impact Entrepreneurs are seizing on the opportunities, and more and more people are innovating. Endeavor is poised to play a vital role in cultivating an entrepreneurial ecosystem in Indonesia.”

Cindy Ko from Endeavor, who led the expansion, is currently based in Singapore, Endeavor’s newest regional service office. “With plans to expand in all of the major emerging markets in East Asia,” she says, “it was the right time for Endeavor to be present in the financial & commercial hub of Southeast Asia.”

Announcing Endeavor Indonesia’s Board of Directors:

Ciputra
Ciputra Development
Founder & Chairman

George Tahija
Austindo Nusantara Jaya
President Director & CEO

Hendrik Kolonas
Celebes Artha Ventura
President Commissioner

Husodo Angkosubroto
Gunung Sewu Kencana
Chairman

Jimmy Masrin
Lautan Luas
Vice President Director

Svida Alisjahbana
Femina Group
President & CEO

Theodore Rachmat
Triputra Investindo Arya
President Director

Dow Jones VentureWire: “NGO Endeavor backs Globant through new investment fund”

Reprinted from Dow Jones VentureWire. See original article here (highlighted on WSJ.com).

By Deborah Gage

Endeavor Global Inc., a non-profit that supports entrepreneurs capable of building big businesses in developing countries, invested $2 million in Globant, a software development company headquartered in Buenos Aires that handles projects for customers including Southwest Airlines Co., the Coca-Cola Company and Dell Inc.

The investment was made through Endeavor Catalyst, a new organization operating as a 509(a)(3)–the same classification used by university endowment funds–that enables Endeavor to make venture-style investments in promising companies and reap returns without being regulated like a private foundation.

So far, Endeavor has raised nearly $10 million for Endeavor Catalyst from investors including True North Venture Partners Chairman Michael Ahearn, former Warner Music Group Chairman Edgar Bronfman Jr., Accretive LLC Managing Partner Michael Cline, Greylock Partner Reid Hoffman, Abraaj Capital founder Arif Naqvi and Omidyar Network founder Pierre Omidyar, according to Endeavor Chief Executive Linda Rottenberg. Each man has pledged $1 million.

The goal is to get the fund to $20 million this year and ultimately to $40 million, which should allow Endeavor to become financially self-supporting rather than relying on donations, Rottenberg said.

“For Endeavor, this is a huge step toward longevity, and for the Endeavor entrepreneurs it’s an additional feeling of confidence for them and allows them to get more of a leg into the investment community in the U.S.,” she said.

Rottenberg co-founded Endeavor 14 years ago as a way to support the development of businesses in emerging economies that could generate revenue and create jobs. It now operates in 15 countries in Latin America, Africa, Southeast Asia and the Middle East and has screened more than 29,000 entrepreneurs, selecting 656 of them to lead 413 companies.

All Endeavor entrepreneurs are mentored, often by volunteers, and are also required to donate time and money back to their communities, but Endeavor was torn over how to invest in some entrepreneurs without seeming to play favorites.

Hoffman and Matrix General Partner Nick Beim solved that problem by designing a fund that would allow Endeavor to participate passively in investments of at least $5 million led by professional investors, contributing no more than $2 million to a round in return for about 10% of the company. Negotiations on terms are handled by the lead investor.

For Globant, whose founders have been participating in Endeavor since 2005, Endeavor added on to a $15 million funding round that Globant raised last March from FTV Capital and Riverwood Capital so that Globant could be Endeavor Catalyst’s first investment, Rottenberg said.

Five more investments–two in Brazil, two in Mexico and one in Turkey–are likely to happen in the next three to four months, she said.

Globant Chief Executive Martin Migoya told VentureWire in March that the company had raised about $35 million and hoped to go public in the U.S. within the next few years. He said Globant’s participation in Endeavor has enabled the company to learn “from some of the most talented and experienced professionals in the world.” Globant now employs over 2,500 people.

WPP to acquire majority stake in Endeavor firm 41?29! Media, an independent digital agency in Turkey

For full press release click here

WPP announces that it has agreed to acquire a majority stake in Endeavor company 41?29! Media Internet (“41?29!”), an independent digital communications agency based in Istanbul.

Founded in 2007 by Endeavor Entrepreneur Alemsah Ozturk, Bora Akman and Omer Ersoy, 41?29! offers digital communications services to clients across all business sectors.

The agency employs 48 people and clients include Diageo, Garanti Bank, Kraft, Microsoft, Nokia, Renault, Ulker and Unilever. (From press release.)

How Endeavor Entrepreneurs are faring after the Egyptian Revolution

Reprinted from wamda.com. See original post here, originally published as “Surviving the Egyptian Revolution: Small Businesses One Year After #Jan25.”

By Nina Curley

Days after the one-year anniversary of the Egyptian revolution, it’s now the Egyptian economy, not popular tolerance for dictatorship, that may have reached a breaking point.

Unemployment is higher than it’s ever been. Tourism is floundering, unhelped by recent demonstrations. After rejecting an offer from the International Monetary Fund this June, the controversial military-ruled transition government now returned to the IMF to ask for $3.2 billion in support, in what seems like a tacit admission of the failure of their policies over the past year.

In the startup space, venture capital deal flow has been slow. Sawari Ventures invested in mobile applications company Alzwad and software company Vimov in January 2011, when accelerator Plug and Play Egypt also invested seed funding in its first crop of six startups. Yet investment news slowed until venture capital firm Ideavelopers invested in local daily deal site Offerna in late October 2011. Plug and Play Egypt has now been put on hold.

With the recent launch of Flat6Labs’ first round, seed stage investment in Egypt is picking back up. But what of the small businesses that suffered through the year? As popular frustration with corruption turned to general suspicion of the private sector this year, some small businesses were hit particularly hard.

Others that we spoke to, supported by nonprofit Endeavor, have managed to survive the economic stall by carving out new markets or continuing to dominate their niches.

Targeting High-End Markets

For bakery chain and Endeavor firm The Bakery Shop, catering to customers with disposable income kept business afloat. “Pre-revolution things were doing quite well. We opened our first store in 2008, in the north coast of Egypt by the sea, where we introduced baguettes, croissants, and pastries to a market that consumes luxury products,” says co-founder Sameh El-Sadat.

After moving back to Cairo, TBS launched a store in upscale neighborhood Zamalek, followed by shops in Heliopolis and Maadi, and two more in 2011. “Things slowed down during the revolution, because people were afraid to spend too much, and the curfew didn’t help,” says Sadat. “But business picked right back up. Given that our market already has a high disposable income, we were not affected.” The fact that baked goods are comforting can’t hurt.

The company, which has two more shops slated to open soon, has also worked hard to beat out competitors and retain its talent, recruiting top bakers, sending them abroad for training, and compensating them well. “It’s important that they feel they are part of the ownership of the business,” says El-Sadat.

At Endeavor-supported company Azza Fahmy Jewelry, targeting a similar high-end market also helped insulate business. “You’d think that jewelry is one of the first things that people would stop purchasing during the revolution. But our sales were not affected as much as we expected,” says managing director Fatma Ghaly.

The jewelry company, which founder Azza Fahmy pioneered in the early 1980’s, creating unique designs inspired by Islamic architecture, momentarily put expansion plans on pause. And yet, as it gears up for expansion into U.S. and European markets, the attention that the revolution has garnered Egypt is turning out to be helpful.

“In terms of branding, Egypt got a lot of positive branding as a country,” Ghaly, who spoke about cultivating creativity at CoE, explains. “Now when we approach markets in the U.K. or the U.S., there is curiosity and there is a bit of excitement that wasn’t there before.”

Looking to Africa

For online and mobile banking company and Endeavor company eMasary, which was registered in 2009, the story has gone differently. As a company that facilitates online payments for the unbanked community, which comprises up to 90% of Egyptians, according to Infosys, the revolution hit harder.

The company, which has worked on large-scale projects like automating toll station payment on the Cairo-Alexandria Desert Road, had to cancel projects with the Ministry of Transportation due to the regime change. “We had an appointment with the Minister of Transportation on the 26th of Jan. The minister was removed, so the project was cancelled,” explains founder Moatasem Osam.

Once the government was thrown into transition, a project designed to allow consumers to pay traffic tickets online was also cancelled. As a result, the company has been pushed to think more about expansion into Africa, pushing towards Ethiopia, Ghana, and Nigeria as well as Dubai.

And yet, it hasn’t all been negative. “We’re attracting investors now,” says Osam, “perhaps because of the status of the country.

Hoping for Regulatory Change

While the previous regime worked to woo foreign investment, the new government will have to fight more than corruption to rebuild a comfortable environment for small businesses, say these entrepreneurs.

The government should incentivize training and technical certification, says Osam, while facilitating banking facilities for small and medium-sized enterprises. Ghaly hopes that laws governing trade, hallmarking, and custom laws will be relaxed to facilitate imports and exports. And El-Sadat points out that a more enabling regulatory environment will help other entrepreneurs be less afraid of failure.

As each finds new avenues for international expansion or outside investment, the sense that Egypt is a land of possibility may be the biggest boost. “The revolution really portrayed the true spirit of Egypt,” says Ghaly. “There is no longer a stigma of terrorism and ignorance driving portrayal of the Middle East.”

Endeavor Global closes investment round with IT firm Globant

The following press release can also be viewed here: http://prn.to/xpQVEQ

For the first time in its history, the global NGO – through the Endeavor Catalyst Program – invests $2MM in one of their selected High-Impact Entrepreneurs

New York, New York, February 1, 2012 - Endeavor, the word-wide leader in selecting, mentoring and accelerating high-impact entrepreneurs, announced that it has closed an investment round with Globant, a leading producer of innovative software products that appeal to global audiences, as the first investment of Endeavor Catalyst.

Endeavor Catalyst is a revolutionary and high-impact initiative that uses donated capital to allow the organization to co-invest in Endeavor Entrepreneurs in a neutral, unbiased way. The main goal of this program is to use the returns of the investment both to support Endeavor’s operations and to be reinvested into Catalyst to provide funding for other Endeavor Entrepreneurs.

The pioneering supporters of Endeavor Catalyst have each pledged $1MM to the investment vehicle, citing it as an innovative new model of philanthropy. The founding members of this Entrepreneurs’ Circle include Michael Ahearn, Chairman of True North Venture Partners; Edgar Bronfman, Jr, Former Chairman of Warner Music Group; Michael Cline, Managing Partner of Accretive LLC; Reid Hoffman, Partner of Greylock Partners and Co-Founder of LinkedIn; Arif Naqvi, Founder and Group CEO of Abraaj Capital; Pierre Omidyar, Founding Partner of Omidyar Network, Founder and Chairman of eBay.

“We are thrilled to be part of Globant´s story once again. The moment Globant’s founders were selected as High-Impact Entrepreneurs in 2005 we were struck by their passion and vision. We knew that they were going to change their society and country. Today, Globant’s reach and impact spans the globe, creating more than 2,500 high-quality jobs and working with the world’s greatest technology players. I am proud to announce that Globant has received the first investment from Endeavor Catalyst, a passive investment vehicle that uses donors’ funds to support Endeavor Entrepreneurs’ capital-raising rounds,” explained Linda Rottenberg, Endeavor Co-Founder and CEO.

Endeavor is leading the global high-impact movement to catalyze long-term economic growth around the world. With operations in 15 countries throughout Latin America, Africa, Southeast Asia and the Middle East, Endeavor has screened more than 29,000 entrepreneurs and selected 656 individuals leading 413 high-impact companies.  These Entrepreneurs have created over 156,000 jobs, generated over $4.5 billion in revenues in 2010 and inspire future generations to innovate and take risks.

“For us, this round means much more than just the $2 million. It is a symbolic act that shows the reinforced trust that Endeavor puts in Globant; trust that was first shown in 2005 when they selected us as Endeavor Entrepreneurs. That was a key milestone in our history, since they enabled us to learn from some of the most talented and experienced professionals in the world”, said Martín Migoya, Globant´s CEO and Co-Founder. “By renewing its commitment to Globant through the Endeavor Catalyst Program, Endeavor reinforces a great partnership that will help us to take our company to the next level, creating more jobs for talent across the world, more opportunities for our Globers and delivering the best software products for our customers”.

Globant is a company comprised by more than 2,500 IT professionals, based in 15 delivery centers across Latin America and US and working for customers like Google, EA, JWT and LinkedIn.The Company closed late last year the acquisition of SanFrancisco-based Nextive, a company specialized in the development of mobile software solutions. This operation allowed them to improve its organization around 8 studios, which in turn is contributing to position the Argentinean Company as leader in their industry.


About Globant (www.globant.com)

Globant is the Latin American leader in the creation of innovative software products that appeal to global audiences. For us, that means we are the place where the best engineers team up with art design studios and innovation labs to deliver a superb user experience.

In only 9 years, Globant:

- Has more than 2,500 professionals working for companies like LinkedIn, JWT, Zynga, and Google, among several others.
- Was selected as Endeavor Entrepreneur (2005)
- Was named among the top 10 software development company and top 10 product engineering vendor (2011) by Global Services
- Was included in the 2010 Cool Vendor in Business Process Services Report by Gartner
- Was featured as case study of Harvard, MIT, Stanford and others

About Endeavor (www.endeavor.org)

Hailed by New York Times columnist Thomas Friedman as “the best anti-poverty program of all,” Endeavor is leading the global movement to catalyze long-term economic growth by selecting, mentoring, and accelerating the best high-impact entrepreneurs around the world. To date, Endeavor has screened more than 29,000 entrepreneurs and selected 656 individuals leading 413 high-impact companies.
With support from Endeavor’s worldwide mentor network, these high-impact entrepreneurs:

- Have created over 156,000 jobs
- Generated over $4.5 billion in revenues in 2010
- Inspire future generations to innovate and take risks

Headquartered in New York City, Endeavor currently operates in 15 countries throughout Latin America, Africa, Southeast Asia and the Middle East. As the high-impact movement expands globally, Endeavor will continue to show that anyone with a big idea can succeed, from Silicon Valley to Latin America, the Middle East, and beyond.

Endeavor Entrepreneurs featured on Wamda TV [in Arabic]

Recently, the Wamda website conducted video interviews with several Endeavor Entrepreneurs from the Middle East. The videos, which are in Arabic, are summarized below.

[Arabic]

Laith Zraikat and Omar Koudsi speak about how they channeled their abilities and ambitions into starting up the online community Jeeran in Jordan. Laith explains how recently, Jeeran pivoted into a new vision, generating highly localized content by providing its community with information about what’s happening in cities throughout the Arab World (causes, events, restaurants, etc.) and publishing them for people to comment on and connect around. This helps consumers narrow their choices and spend their time more efficiently.

Omar, meanwhile, explains how this is facilitating Jeeran’s regional expansion, and describes how the daily challenges of running Jeeran are his favorite part of being an entrepreneur.

(Source: wamda.com)

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How branding can keep your internet marketing investment alive

Reprinted from under30ceo.com. See original post here.

By Justice Wordlaw IV

You have probably noticed that there are several companies competing for a single product. For instance, in athletic shoes alone, you will be able to count more than ten competitors. In the airline industry, there exists more than ten competitors in providing air travel services for travelers both inside and outside the United States.

How will you distinguish one competitor from another competitor? That is where branding comes into action. In fact, this is one of the important yet unappreciated aspects of Internet marketing.

Before you will be able to understand the goal of branding on Internet marketing, let us first discuss the branding on traditional conduct of business. It is an advertising method that is used to identify the products or services of a seller or a group of sellers and differentiate it from those of other sellers offering the same products or services. Establishing a brand for your own products or services will help you achieve the following:

- Deliver the message clearly to the public about your intention of marketing your products or services;
- Confirm your credibility as an independent and reputable seller;
- Motivates your buyer to patronize your products or services; and
- Build a concrete and loyal clientele base.

In other words, the goal of branding is to give your products or services its own identity apart from other sellers offering the same products or services. You will only succeed in the investment you are into if you have established yourself as an independent and reputable seller through branding.

What are the consequences of branding in your investment?

The brand of your products or services will rest with the hearts and minds of your clients and potential customers. This will influence the way they patronize your products or services that may even result in the expansion of your clientele base.

It is what the people will remember about you. For instance, you have branded your pet products as Pet Lovers. Once the brand is consistently patronized by the people, you will be able to achieve success and your products will certainly have an edge over unbranded products.

As previously mentioned, branding is one of the most important yet the most unappreciated aspects of Internet marketing, particularly in terms of web advertising. Since most advertising programs are focused on click-through rates (since it is the basis of earning through online-based affiliate programs), Internet marketers often neglect the important of branding in terms of Internet marketing. This is relatively unfortunate since the success of Internet marketing is also dependent on branding awareness. In other words, branding is essential in promoting the brand of the product or services of the affiliate. Without branding, there is no sense that the product or services you are endorsing will be popular to your clients.

Keep in mind that your goal here is to earn money and not to lose any penny. Thus, it would be better if you will invest on branding-based Internet marketing. It is easy to promote products and services that are already well-known to the public rather than unbranded ones.

However, you can also help building brand awareness of not well-known products or services that will help a lot in making your online advertising successful. Here are some of the strategies that you can use:

1. You may think of a brand name that will suit to the products or services of your clients. Such brand name must not be too formal yet too lousy to the eyes and ears of your clients. You may include interesting words that will produce the needed twist to the name of the product or service.

2. Since a brand is an intellectual property, you need to check with the Patent and Trademark Office (PTO) if the brand name is already taken by someone else. Once the selected brand name is still available, you will be able to apply for the registered patent of that brand name.

3. Once the patent has been approved, you need to consistently advertise the name so that it will gain popularity among potential clients. You may also suggest to the merchants that the brand name needs to be advertised through various affiliate programs over the net for more visibility.

Branding must not be taken for granted. It is one of the factors that will help you achieve success in Internet marketing. Keep it as your goal and stick with it along the course of your investment.

Justice Wordlaw IV is an internet entrepreneur. He helps companies and entrepreneurs gain leads to their business and shows them how to their convert their leads into sales.

The power of social media in promoting your business

Reprinted from under30ceo.com. See original post here.

By Dave Thomas

In a day and age when many young entrepreneurs are enjoying the benefits provided by engaging in a solid social media campaign, other business owners are tripping over themselves and potentially missing out on revenue by shunning SM.

So, why would some young entrepreneurs not take the time to employ a social media program when many others appear for all the eyes to see to be succeeding with it? This question becomes even more relevant given that the majority of younger business owners come with the computer skills needed to employ as successful social media campaign.

Various studies have been produced in recent years demonstrating the importance and the results of successful social media campaigns. Still, some business owners just don’t get it.

In the event you’re a young entrepreneur who has been sitting on the fence when it comes to having a social media presence, consider a few things:

- Your return on investment (ROI) – Given that many entrepreneurs are rightfully obsessed with their ROI output, social media can play a major role in boosting those figures. Not only are you reaching out to present and potential clients, but you’re doing so in real-time. Social media platforms give you the opportunity to converse one-on-one with customers, offer them real-time specials and coupons, address concerns and questions on the spot and more;

- Social media does not have to cost great amounts of money – For some entrepreneurs, the fear is that dedicating time and effort to social media is a lost cause in the long run. Quite the contrary, social media does not cost a business tons of money, given that it can be done in-house with current marketing or public relations staff. As for the effort, yes, updating content, engaging in conversations with other social media participants are both important, but they can be handled with your in-house staff that you dedicate to the task. The bottom line is that the return will be greater 99 percent of the time than the output to get it;

- Contact with the public – Keep in mind that many of your present and potential customers are online several hours a day, so why wouldn’t you want to engage them? The idea that being active in social media is a waste of time should be easily dispelled right here and now. Estimates show that there are more than 700 million users on Facebook and around 200 million or more using Twitter alone. Think of the contact you could have with members of those audiences who are interested in your products and/or services. Why wouldn’t you want to engage them?

- Fads come and go – You will hear some entrepreneurs label social media as just a fad, pointing out that they believe it will be gone sooner rather than later. Quite the contrary, most studies point out that SM is not going anywhere anytime soon. If anything, you will see more companies ramping up their social media efforts in order to attract additional customers. Yes, some fads do come and go, but all indications are social media is here to stay for the immediate future;

- Technology and communication will only continue to grow – Remember the days when customers would order items by phone, use letters to complain about a product and scour newspapers looking for deals? Yes, they still do a little of those things here and there, but far more use their computers for such tasks. So, are you prepared to give them the real-time service they want or are you willing to let your competitor fulfill their needs? It seems like a simple question, but too many entrepreneurs still struggle with the understanding of how important being tuned in online really is;

- This traffic is a good thing – Most people cringe when they think of traffic, but the traffic you can be sitting in with social media is a good thing. With traffic coming to your company website due to your social media initiatives, your ROI is likely to go up. By using targeted keywords, credible links and more, your social media campaign will be recognized by customers;

- What are some of the sites I should direct my attention to? – There are countless social media sites out there, but some stand out above the rest. Obviously Facebook and Twitter have the most name recognition. With Facebook, entrepreneurs are encouraged to create a company fan page and provide valuable information to the public. With Twitter, entrepreneurs can tweet out press releases, pertinent company photos, etc. that would be of interest to their target audience. Other sites to keep in mind are LinkedIn, StumbleUpon and YouTube just to name a few.

No one can accurately predict where social media will be in the years to come, but it is a rather safe bet to say it will need to be something your business is actively engaging in rather than sitting on the sidelines for.

Dave Thomas, who covers among other subjects’ HR Software, writes extensively for Business.com, an online resource destination for businesses of all sizes to research, find, and compare the products and services they need to run their businesses.

Working towards your dream…while working for someone else

Reprinted from under30ceo.com. See original post here.

By J. Matthew King

As entrepreneurs we have a dream and vision of how great our life will be when we have our business up and running. We can see the “open” sign on the door, we can feel the cash running through our fingers, we can hear the accolades of our peers as our business grows and succeeds. But what do when we still wake up every morning to go punch the time clock for someone else? Below you will find some successful actions that will help you prepare yourself for opening day of your dream.

Grow in your surroundings

When you do start your business, at least at first, it is likely that you will have to wear many “hats”. Depending on what business you are in now, try and get as much knowledge from each department as you can because you may have to be ALL the departments for awhile in your new company so spend some quality time with Accounting, HR, and IT to get as much knowledge from them as you can. Especially if you have friends in those areas they can be valuable assets in getting to know the ins and outs of those areas of the business. Also, if the opportunity presents itself, volunteer for projects that will let you have more interactions with different departments than you normally would interact with so that you can have as much time to learn from them as possible.

Become more educated

Many companies provide educational opportunities for their employees such as webinars, white papers, attending trade shows, and obtaining certain certifications to their employees. If where you work is one of those jump at every chance to participate in them! these are free ways for you to expand your knowledge into different areas than you may be familiar with. Don’t pass them up! Even if your company does not provide these opportunities look for local business clubs for networking opportunities and to run your ideas by, and grab some good business books to read as well.

Watch your managers

How do they make decisions? how do they talk to/treat their employees? how do they react under pressure? How do their employees react to their methods? When you open your own business YOU will be the manager, you have to know what are effective management techniques and what are not. make a list of things your managers do that work and that you should emulate, and things they do that are not effective. When the chance presents itself take the lead on projects and try and implement some of the successful actions of your managers. When you are on your own and their are tough times looking back on your success will be a good reminder that you CAN be successful.

Finalize and review your plans

Continue your research.While you are still drawing a steady paycheck is the time to solidify how and when you want to start your business. Make sure you have all your finances, personnel, infrastructure, etc ready to go for opening day. Now is your chance to be as sure as possible that you are ready to go and that as much as is in your hands, you can succeed.

Relax

For the last time in a while you are not the decision maker, you are not the one responsible for the life and death of the company. Enjoy that you have steady hours and can go home and not be on call 24-7, because once you start your company until you are well-established you will be the decision maker, you will be responsible for the life and death of the company and you will be on call 24/7.

Envision success

What does success mean to you? Can you see it? Can you write it down? Think and write down now what success will mean to you 3 months into the business, 6 months, 1 year, 3 years, etc. You have to have the vision for where you are going before you can get there. To me this also means the “butterfly effect” by that I am talking about that excited, giddy feeling you get when you think about your business being successful, that feeling you get because you know that now you are doing what you were meant to do, what you LOVE to do. If you don’t have that feeling then start over until you find something that gives you that feeling, that reason to get up in the morning and go to “work” that doesn’t feel like work.

With these successful actions in place you can get ready to really see your neon “open” sign flashing, feel the money running through your fingers, and hear your peers lavish the praise on you that you have earned for your hard work, because you took the time beforehand to grown in your current surroundings, take the opportunities for educating yourself, watched and emulated successful actions of your managers, finalized your plans, relaxed, and envisioned your success. Now, your dream can become your reality.

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