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Endeavor Hosts Retail, Food & Beverage Tour for Endeavor Entrepreneurs, Features Presentations from Top Industry Brands

Endeavor hosted a Retail, Food & Beverage Industry Tour for select entrepreneurs in its network, providing them with a rare look into the operations of  some top global brands in each industry. The two-day tour included a mix […]

November 19th, 2014 — by admin

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Endeavor Entrepreneur Company Enova Honored at the 2013 Tech Awards

Enova, an Endeavor Entrepreneur company, was honored with the Microsoft Education Award at the 2013 Tech Awards  this month in San Jose, CA. Founded by Endeavor Entrepreneurs Jorge Camil, Mois Cherem Arana and Raúl Maldonado, Enova brings technology-based learning to disadvantaged communities […]

November 21st, 2013 — by admin

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2011 Endeavor Gala musical guest announced

It was announced today that Lianne La Havas will perform at the upcoming Endeavor Gala on November 10th in New York City. The new British sensation is known for her ability to control a room with just her guitar and souful voice. Just one more reason to look forward to this year’s event!

To learn more about attending this year’s Gala (seating limited), please email gala@endeavor.org.

Tips for managing a multigenerational workplace

Reprinted from Under30CEO.com. See the original post here.

By Dianne Durkin

With competition for talent on the rise, developing a corporate culture of employee engagement and commitment has become a foundational imperative for most organizations. Creating and maintaining a high-performing workforce is at the core of nearly every business strategy, and the rewards for doing it right include increasing employee satisfaction, reducing turnover, optimizing productivity and positioning the organization for growth.

The stakes are even higher for organizations that face immediate challenges such as a merger or acquisition, volatile market conditions, new competitive threats or any serious need to influence internal change in response to external forces.

There’s another element compounding the pressure and raising the stakes on employee commitment: Never before has there been such a diversity of generations in the workforce. Four distinct, age-based cohorts coexist in the workplace. Each has different values, attitudes, expectations, needs, and motivations, all of which can make it more challenging to manage and integrate into a corporate culture.

Currently, Generation X and Nexters make up about 45 percent of the workforce. Together, these 18-to-41-yearold individuals equal the same percentage of the workforce the Baby Boomers compose. The Veteran generation makes up the final 10 percent. To ensure long-term employee loyalty, enterprises need to learn about each of these generational groups, their needs and motivations. Although there is danger in generalizing, a quick review of each group’s typical traits reveals a glimpse of what individuals in each group might be looking for from an organization.

Veterans (1922–1944): Born before World War II, their values were shaped by the Great Depression, the New Deal, WWII and the Korean War and emphasize civic pride, loyalty, respect for authority, dedication, sacrifice, conformity, honor and discipline. This generation is driven by duty before pleasure.

In the workforce, they are stable, loyal, hard-working and employed with their company for 30 years or more. To them, work is a privilege: They respect the institutions they work for and its leaders, believing that work and sacrifice pay off in the long term. As a result Veterans seek a directive leadership style, with clearly defined goals, directions and measurements designated by the leader.

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Can entrepreneurship be taught?

Reprinted from CompanyFounder.com. See original post here.

By Paul Morin

A question I get quite frequently is, “Can entrepreneurship be taught”? It’s a tough question and the answer is highly dependent on how you define “entrepreneurship,” so let’s start there. If you look in Webster’s dictionary online (http://www.merriam-webster.com), there is no separate definition forentrepreneurship, but here’s the definition you find for entrepreneur:

One who organizes, manages, and assumes the risks of a business or enterprise.

Frankly, I find that definition a bit lacking, as it’s very dry and does not embody any of the spirit or mindset it takes to be an entrepreneur.

If you take a look at first the definition of entrepreneur on thefreedictionary.com it’s similarly unexciting and dry, but a bit further down there is another definition that is more in line with the way I think about entrepreneurship.  That definition is:

The owner or manager of a business enterprise who, by risk and initiative, attempts to make profits.

This one appeals to me a bit more, because entrepreneurship is all about taking initiative, and the motivation for taking that initiative and assuming the related risks, is usually to make profits.

We could wordsmith the definitions of entrepreneur and entrepreneurship all day long, but the definition above should be sufficient to allow us to think more about the question at hand: Can entrepreneurship be taught?

The short preview of my opinion is that I believe certain aspects of running a business can be taught very well; however, the “entrepreneurial mindset” is difficult to teach and correspondingly tough to learn, but for the most part, it is possible. In order to look at this aspect of the mindset a bit further, let’s review my list of the 5 Key Character Traits To Be Successful As An Entrepreneur. Though I acknowledge that this is not an exhaustive list, in my opinion, the five key traits are as follows:

1. Perseverance

Having been in the entrepreneurship game for more than 30 years now, I have learned that, without a doubt, if you don’t have perseverance, you are highly unlikely to achieve any meaningful level of success as an entrepreneur. Although you may plan and do your best to predict the future, I haven’t met anyone who can do that with 100% accuracy. Therefore, there are going to be unforeseen challenges and you will need to persevere in order to overcome them. The good news is that, like many of the key characteristics of successful entrepreneurs, this one can be learned — you don’t need to be born with it.

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25 tweetable entrepreneur tips from Steve Jobs

Reprinted from Wamda.com. Original post here. Twitter: @endeavor_global.

Remembering Steve Jobs, 1955-2011

1. Create a product with soul. Jobs proved that to create a product that customers would not just use, but love, you have to marry science with art.

2. Start small but think big. “I want to put a ding in the universe,” Jobs famously said.

3. Your time is limited, so don’t waste it living someone else’s life. Don’t build the life that someone else wants you to- Jobs’s life is a lesson in making original decisions.

4. Stick to your guns. Interviewers often said that Jobs was a tough interview- he didn’t answer their questions, but rather always said exactly what he wanted to say.

5. Find real solutions to real problems. Jobs made the claim early on that 99-cent mp3s would save the music industry. Indeed- since April 2008, the Apple iTunes Store has been the number one music vendor in the U.S., and by October 4, 2011, the iTunes store sold its 16 billionth song.

6. Become a market leader. Own and control the technology that you create and use, to reduce the ability for others to successfully imitate to your standards.

7. Make a product that can sell itself. Apple’s advertisements were famous for simply showcasing their products. They didn’t work overtime to convince you- their elegant user interface did, all on its own, by being head and shoulders above the competition.

8. Don’t listen to your customers too much. Jobs was famous for his assertion that listening to customers too much is a waste of time. You have to think on their behalf but ignore their skepticism if you’re going to create something that no one has ever seen before.

9. Live every day as though you have nothing to lose. “Remembering that you are going to die is the best way I know to avoid the trap of thinking you have something to lose,” said Jobs. “There is no reason not to follow your heart.”

10. Look at the silver lining in failure. When Jobs was fired from Apple, he said, “I felt that I had let the previous generation of entrepreneurs down – that I had dropped the baton as it was being passed to me.” But, he realized, it was the best thing that ever happened to him, because it freed him to enter one of the most creative periods of his life, he said in his Stanford commencement speech.

11. If you love what you do, you will find a way. Jobs said that when he was fired from Apple, he thought about running away from the valley. But then he realized that he loved what he did, and the events at Apple couldn’t change that.

12. Have faith in your journey. Jobs described you can’t connect all of the dots when you look forward in time, but you can, in retrospect, see the way that pieces fall into place to bring you lessons.

13. Trust your inner voice. “Don’t let the noise of others’ opinions drown out your own inner voice,” he said- following his inner voice allowed Jobs to both pivot into different projects and to innovate.

14. Be a perfectionist. We’ve all heard the stories of Jobs being an unapologetic taskmaster, to the point that he alienated some co-workers. And yet, his passion created products that speak for themselves.

15. Keep your eye on the endgame. “I don’t really care about being right, you know, I just care about success,” Jobs famously said, after he was fired by Apple. Borrow ideas if you have to, but focus on the implementation, and on improving rather than the politics of business.

16. Surround yourself with talent. Although Steve stands out as the leader who made Apple what it is today, it’s a myth that he alone is responsible for Apple’s success. A team of talented leaders- Phil Schiller, Jony Ive, Peter Oppenheimer, Tim Cook, and Ron Johnson- work overtime at Apple to build Apple.

17. Let simplicity reign. Jobs was famous for talking about the power of saying “no” when it came to adding bells and whistles to his products. It’s been said that choosing what not to do was more important to him than choosing what to do.

18. Create a unified team. Under Jobs, the executive team at Apple held weekly meetings to review every single product under development, and handed responsibility for all expenses to its Chief Financial Officer alone. Jobs thought that Sony, for example, had too many divisions to create a viable iPod, iPad or iPhone competitor. “It’s not synergy that makes [Apple] work,” he said, “it’s that we’re a unified team.”

19. Teach your company your vision. Apple hired an academic from Yale Management School to create an “Apple University” inside the company, so that his knowledge could be passed on and the structure and vision of Apple could be taught to future employees.

20. Create buzz. Apple creates a lot of hype by keeping its new products a secret until the very last minute. Although the policies of its tight ship are occasionally controversial, it seems to have incidents in which employees leave prototypes in bars fueling even more speculation on the web about the next iPhone.

21. Keep a Beginner’s Mind. “There’s a phrase in Buddhism, ‘Beginner’s mind.’ It’s wonderful to have a beginner’s mind,” Jobs once said. Keep a sense of exploration and wonder in the world.

22. Be a yardstick of quality. “Some people aren’t used to an environment where excellence is expected,” said Jobs.

23. Think differently. Although the Apple stores were considered a huge risk, Jobs pushed ahead with the idea, pointing out that “innovation distinguishes between a leader and a follower.” Apple now has over 357 stores worldwide, and in 2010 the stores earned over $3.2 billion, about 13% of total Apple sales.

24. Defy expectations- visually. At his 2008 Keynote speech, Jobs showed how the MacBook air fit into a standard office envelope, creating an image that no on could forget.

25. Stay hungry. Stay foolish. This was a phrase that Jobs saw on an issue of The Whole Earth Catalogue, a magazine he loved when he was growing up. They printed it on the back cover of their final issue, he described in his in his 2005 speech at Stanford. “I have always wished that for myself,” he said.

The 4Ps of a fully alive business

Reprinted from Ducttapemarketing.com. See original post here.

By John Jantsch

Back in the early 1960’s the American Marketing Association coined the term the “Four ‘P’s” as a way to describe the essential elements of the marketing mix. Since that time every first year marketing student has been taught to think in terms of product, price, place and promotion as they analyze case studies of companies real and imagined.

Much has changed in the last 50 years, including what product really is, what place entails, how package plays a role and, well, pretty much everything about what promotion looks like.

In fact, the very definition of marketing has changed dramatically enough to render the original Four P’s somewhat useless as a foundational marketing and business strategy concept.

Today’s most important business and marketing directive is one of building trust. Engagement, connection and story are the new forms of promotional art. Price is a function of value and place has become bytes and ether more often than a shelf or an office.

There is a home for the Four P’s in today’s business but it’s in the very mortar of the business and the story of its people rather than in a department on an org chart.

The Four P’s are now more about how a business is experienced than what it sells. They reside in the expression of human characteristics that turn commitment into culture and culture into customer.

The following elements make up a redefinition of the Four P’s for the fully alive business and further make the case that marketing is everything you do and every business is really a marketing business.

Passion

The first element of the Four P’s in a fully alive business is the passion for living that the owner of the business brings. When the founder of a business can serve their own personal passion and purpose by growing the business, good things can evolve.

The leader of a business must have a great sense of passion for the business, but they also must be able to connect that passion with purpose in order to bring out the desire to commit in others. Leading with passion is how you put yourself out there and do what you were meant to do.

“A ship in port is safe but that’s not what ships are built for.” ~ Grace Murray Hopper

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The National features Khaled Ismail

Endeavor Entrepreneur Khaled Ismail, the Egyptian founder of SySDSoft, a wireless communications company that has expanded from just two people to more than 100 staff since its founding in 2002, gave an interview to UAE newspaper The National. In the interview he discusses the challenges he has faced over the past decade since starting his business, and his more recent efforts to give back by helping newer entrepreneurs achieve their goals.

On becoming the first entrepreneur in Egypt to be awarded free advisory services from Endeavor Global, and how this helped his business:

“We were subjected to interviews by executives at Cisco, IBM and several other reputable companies. These individuals had a lot of experience and raised a lot of good questions. Sometimes a good question is more valuable than a solution or answer. Then we were subjected to even more severe scrutiny, and every panel asks you very fundamental questions about your business model. All of that helped us put everything correctly in context to grow the company with the right view of our strengths and weaknesses.”

“[Endeavor] assigned a mentor. We had an offer at one point to be [taken over], and my mentor gave me guidelines on what is a good price, and whether to sell or not. We did not sell at the time, which was a wise decision.”

On being elected board chairman of Endeavor Egypt, and how his role will help other entrepreneurs:

“With early-stage entrepreneurs, fresh out of university, a nice idea may just need help from angel investment. Then you start growing it and you can potentially become a high-impact entrepreneur, and that’s where we pick up. But you need someone to work with the different entities and create that pipeline. Here, we have to make sure the pool of entrepreneurs exist and are helped. You have to bring the VCs [venture capitalists], investors and convince them this is a good investment.”

The full interview can be found here

Endeavor Chile firm Atakama acquired by Japan’s DeNA

Atakama Labs, a mobile gaming startup founded by Chilean Endeavor Entrepreneurs Tiburcio de la Carcova and Esteban Sosnik, has been acquired by prominent Japanese mobile-social company DeNA. Through this acquisition, Atakama has become the first Latin American subsidiary in DeNA’s growing global portfolio.

Atakama will now be involved in work on the social mobile gaming platform Mobage Global, which is operated by DeNA’s US arm Ngmoco, acquired last spring. DeNA states that “Atakama Labs will primarily provide engineering support for Ngmoco’s first-party and third-party games, as well as the Mobage platform itself. The companies already have an established relationship through previous work commissioned to Atakama to port third-party mobile social games to Mobage Global.” Ngmoco’s CEO says, “Atakama Labs’ highly skilled engineers and experienced management team will be a great asset as we grow.”

Atakama Labs has previously made itself known with Facebook’s Little Cave Hero game, an exploration and city-building game that includes user-generated content, making it more complex than many competing games in the city-building category.

DeNA became a billion-dollar company through success with mobile social games in Japan, and now aims to become a global gaming giant, which will mean taking on a great number of foreign employees. According to the company, “Currently DeNA Group has a staff of nearly 400 worldwide, working on social games for smartphones, and the Group plans to expand the team to 1,000 in the near future. The acquisition of Atakama Labs will add a team of 30 to DeNA’s global staff.”

Some experts have viewed the deal as a landmark for fellow Chilean entrepreneurs, as it will further fuel the growing perception that Chile is developing into a hub for high-growth entrepreneurship.

For more details on the deal, check out the coverage in VentureBeat.

Linda Rottenberg interviewed for Hürriyet

During a recent trip to Turkey, Endeavor Co-Founder and CEO Linda Rottenberg participated in a video interview for Bloomberg Turkey, and was interviewed by Hurriyet, a top Turkish newspaper. Below is a translated summary of Linda’s remarks:

“You have entrepreneurship in your DNA.”

Linda Rottenberg says that Endeavor is a community where innovative, creative people gather together — where entrepreneurs who think big can get the help and support they need to reach their goals.

According to Rottenberg there is a fast growing entrepreneurship ecosystem in Turkey. “When I was studying at Harvard during the 80’s many of my friends were looking for jobs in big firms, but my Turkish friends were more into creating ideas and starting their own companies. During the financial crisis in the United States everyone is talking about what should be done but nothing is actually being done. They’ve lost the spark. However in emerging markets like Turkey people are talking less and actually going after their visions and dreams. I think that’s the biggest difference. The global crisis also created many opportunities for small to medium enterprises in emerging markets in terms of both human resources and the opportunity to buy or merge with bigger brands.”

Rottenberg says that investors have taken more interest in Turkey than China or India recently and Turkish entrepreneurs are taking this opportunity and using it to their advantage. She is soon expecting “garage companies” like Google and Apple to come out from Turkey. “There are already some Turkish technology companies that are known very well worldwide in their sector but not known widely because their models are business to business, not of business to customer.” “The new trend is emerging to emerging (E2E) where emerging markets are taking an interest in one another. It is not just developed countries like the U.S.A taking an interest in Turkey but China, India and others are too!”

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The article also mentions Investor Trek, where many members of Endeavor’s Investor Network will be gathering in Turkey in December 2011 to meet with Turkish Endeavor Entrepreneurs.

UAE newspaper highlights Endeavor’s role in the Middle East

UAE-based newspaper The National recently published a feature on Endeavor’s role in the MENA region, including plans to eventually open an office in Dubai. For the time being, Endeavor Global operates a satellite “support” office in the country, in partnership with Abraaj Capital.

The article quotes Linda Rottenberg, Endeavor’s co-founder and CEO:

“‘The Middle East is really one of the hotbeds of entrepreneurial activity…A support office that could marry a lot of the investors and [business] networks that come through Dubai seems to mirror what we have found in Silicon Valley and New York City. This is an entry point where I hope to service entrepreneurs not only from the region, but in the UAE and GCC.”

The article goes on to discuss the growing focus on start-ups in the region, emphasizing their transformation into larger enterprises:

In the UAE, specifically, efforts to boost the overall number of small to medium-sized businesses over the years have largely focused on the creation of new start-ups.

Many of the services offered through Abu Dhabi’s Khalifa Fund provide Emirati entrepreneurs with start-up capital or advisory services focused on selecting a business idea and evaluating its feasibility.

A number of universities throughout the country have also created competitions that reward students who come up with business plans for new start-ups.

But there is also a growing effort to expand smaller firms into medium or even large-scale enterprises.

The piece makes further mention of Endeavor’s role in the region:

Endeavor Global, which opened a branch in Lebanon last year and plans to open one in Saudi Arabia during the first quarter of next year, customises its services depending on what an entrepreneur most needs. A larger business looking to expand into international markets might be provided with high-level strategic mentorship, while a smaller company could gain assistance with targeted employee recruitment or marketing initiatives.

The full article can be found here.

The difference between entrepreneurship and scalable entrepreneurship

According to a recent article in Slate, “Why Small Businesses Aren’t Innovative,” as world governments have reacted to the recession, significant focus has been placed on job creation and how to best support the so-called small business owner. Indeed, the small business owner has long been considered a central force behind the world’s free economies. At Endeavor, we too have long championed SMEs, but with a caveat. Our focus has been on scalable or “high impact” SMEs — businesses that have significant growth potential and can therefore play a disproportionate role in emerging market development.

The article goes on to discuss how in their scramble to find ways to motivate entrepreneurs to invest, expand, and hire, academics and policy makers have uncovered some interesting outcomes. In particular, in their paper “What Do Small Businesses Do?,” University of Chicago economists Erik Hurst and Benjamin Pugsley have shed light on the importance of identifying businesses truly capable of significant expansion. According to Hurst and Pugsley, the growth-seeking and innovative entrepreneur is truly a rare thing; and most small business owners lack both the desire and the innovative idea necessary to foster significant growth.

Inasmuch as this is the case, there are significant implications in terms of public policy. Rather than create programs designed to stimulate small businesses en masse, perhaps it would be more efficient to focus on those rare entrepreneurs capable of creating the kind of growth that we so desperately need. In other words, when seeking scale, stimulate the scalable.

A new Ernst and Young sponsored report released by Endeavor and the Global Entrepreneurship Monitor (GEM) provides a similar perspective, validating that a powerful answer to job creation lies in high-impact entrepreneurship. Endeavor has long held this view — and the increased focus on business solutions to employment in light to today’s economic climate seems to have lent it further credence.

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