Well I have surely been breaking the number one rule of blogging in my first attempt to have an effective blog and brand: Not writing. To all of my authors out there who I bother daily to make sure they are connecting with the blog and social networking world, I am guilty of not doing enough myself. Lo Siento. I think my frustration has been because I have wanted to say the perfect words instead of just, well blogging what is on my mind.
Finally I sit down to share my story and reason for this blog. I have flat out failed in my efforts thus far which has taught me many truths. I guess it just took a realization on my part. I have been working hard lately on better goal setting and planning so that I can carry through on the vision I have with a step by step approach opposed to the "do everything in one day mentality I sometimes fall victim to."
It all comes back to the resources. Before I dive into the vision for authorpreneurship I want to give thanks to all those who helped me get here. When you have an idea for a business venture you are faced with many challenges. I think the toughest thing I have had to face is that it will never happen overnight. It has been a wild ride for me in the past 9 months so here is a little recap:
June 1st-June 30
Final Class at the College of Charleston- Business Policy 408 with Dr. Hodges who was definitely not easy on a bunch of seniors who all graduated but had 3 credits remaining.
I was interviewing like crazy but knew deep down the company I would do anything to join was a start up venture, BookSurge, that was acquired by Amazon.com in 2005, whose founders spoke to my new venture finance class back in February. They spoke about a concept called Print On Demand-making books accessible to customers as they were ordered, one at a time that they had been pioneering since 2000. The founding principle was very simple: to empower authors who were also struggling to publish content in the daunting and confusing publishing industry. I also came across another opportunity that month:
A 2 bedroom 1 bath condo in a community that felt like an oasis 5 mins from downtown Charleston. When I met others in the community I knew this was an incredible investment. The Concord turned out to be the fastest selling condo community in the Charleston area, mainly for its location and ammenities. I put down all of the money in my savings account as a deposit to secure a chance to purchase the condo before it sold out while I continued to search for a steady source of income and some much needed venture capital. When I look back at it now I dont know how I got the courage to do so. Everything happens for a reason I guess you can say.
July 1-July 22nd
After being offered the position as a publishing consultant with BookSurge I took a drive back home for my last summer in Cape May. Some pics here of the graduation party which was epic.
http://useus.com/johnnyr/
On Friday July 27th 2007 I closed on the home and began the journey all by myself. My mind was certainly racing the first few nights about what was to come.
On Monday July 30th I officially began my career. Pretty amazing resources for a college grad to say the least. I am thankful for how much I have learned thus far, how much I have grown, and the goals I wish to accomplish in the years to come.
The publishing industry is a daunting place but is truly evolving before us. I only wish there were more hours in a day comprehend and share all the content out there.
I have certainly read a ton more books than I did while studying in college. My shelfari shelf is growing nicely. It is amazing to have the choice of what you want to read as opposed to what you are required to read.
This is what the long tail of markets brings to the flat world. Ultimate choice, infinite selection, and the tools to filter these niches by customers who have already purchased the product. If you have not read the Long Tail go do so now. Chris Anderson is brilliant http://www.amazon.com/gp/product/1401302378
I guess my main point of this entry is that researching can only take you so far. Without writing and engaging others you can never survive. Getting your thoughts out there for others to analyze is the only way to improve.
Showing posts with label new venture creation. Show all posts
Showing posts with label new venture creation. Show all posts
Thursday, March 6, 2008
Friday, November 23, 2007
Thoughts on Entrepreneurship
My experience studying entrepreneurship, teaching entrepreneurship, and interacting with every entrepreneur I could find has led me to where I am today. The next problem in disguise or opportunity is what always drives me. It is always so inspiring to learn from others who are willing to share.
Here are some initial truths I have learned from my exposure to entrepreneurship.
A confusion is found when you ask someone to explain the word entrepreneurship. It is impossible to define with words because it has so many levels to it but I will give it a shot. Creating and sustaining value for a venture does it some justice.
Entrepreneurship in my eyes is a mindset, a discipline, and a science. It is a constant pursuit to learn, research and innovate while competitors settle for the staus quo. It is a drive to create a better way to do something.
Entrepreneurs are sometimes labeled as "business owners" or "self-employed". Most of the time this is valid and an entrepreneur will accept this classification but they still feel misunderstood by society. It is hard for entrepreneurs to help others understand their vision.
Anyone can buy a business license to create and operate their own business. This is a reason so many business fail (About 80%). Simply owning a business does not make someone an entrepreneur.
I learned basic principles about the make up of entrepreneurs from reading the wisdom of Dr. Jeffrey Timmons, "The Father of Entrepreneurship Education"
Entrepreneurs understand that in order to sustain a venture many factors play a complimenting role.
1.) The Team
2.) The Opportunity
3.) The Resources
These three factors must constantly work together in order for a business, no matter the industry, to position itself for success.
Lacking the resources or capital to start a venture is always one of the first challenges an entrepreneur faces. Where to find money?
Without the initial investment and cash flow to match the vision an entrepreneur has for a business idea the opportunity will simply remain an idea.
When the investment matches the vision for the business idea an entrepreneur can turn it into an opportunity. From this opportunity it is up to the the management team behind the venture to determine how it operates and sustains growth. Many people have great businesses but fall asleep behind the wheel.
Finally if you have a great team and lots of capital you still can't guarantee the opportunity will succeed. Throwing money and people at a competitive market is a common mistake many aspiring business owners make.
It is so important for these factors to always stay cohesive.
I have heard stories from entrepreneurs of all walks of life. All of them had their struggles. Some more than others, but most importantly they learned from them and grew stronger.
The lesson I learned was that in life and in any business, everything must balance to receive ultimate value, no matter what you pursue.
I sure haven't done a good job of this yet but I am trying to improve.
My next post will be about how we can apply these principles of entrepreneurship to the publishing industry and explain the visions I am having for the term "authorpreneuship."
Here are some initial truths I have learned from my exposure to entrepreneurship.
A confusion is found when you ask someone to explain the word entrepreneurship. It is impossible to define with words because it has so many levels to it but I will give it a shot. Creating and sustaining value for a venture does it some justice.
Entrepreneurship in my eyes is a mindset, a discipline, and a science. It is a constant pursuit to learn, research and innovate while competitors settle for the staus quo. It is a drive to create a better way to do something.
Entrepreneurs are sometimes labeled as "business owners" or "self-employed". Most of the time this is valid and an entrepreneur will accept this classification but they still feel misunderstood by society. It is hard for entrepreneurs to help others understand their vision.
Anyone can buy a business license to create and operate their own business. This is a reason so many business fail (About 80%). Simply owning a business does not make someone an entrepreneur.
I learned basic principles about the make up of entrepreneurs from reading the wisdom of Dr. Jeffrey Timmons, "The Father of Entrepreneurship Education"
Entrepreneurs understand that in order to sustain a venture many factors play a complimenting role.
1.) The Team
2.) The Opportunity
3.) The Resources
These three factors must constantly work together in order for a business, no matter the industry, to position itself for success.
Lacking the resources or capital to start a venture is always one of the first challenges an entrepreneur faces. Where to find money?
Without the initial investment and cash flow to match the vision an entrepreneur has for a business idea the opportunity will simply remain an idea.
When the investment matches the vision for the business idea an entrepreneur can turn it into an opportunity. From this opportunity it is up to the the management team behind the venture to determine how it operates and sustains growth. Many people have great businesses but fall asleep behind the wheel.
Finally if you have a great team and lots of capital you still can't guarantee the opportunity will succeed. Throwing money and people at a competitive market is a common mistake many aspiring business owners make.
It is so important for these factors to always stay cohesive.
I have heard stories from entrepreneurs of all walks of life. All of them had their struggles. Some more than others, but most importantly they learned from them and grew stronger.
The lesson I learned was that in life and in any business, everything must balance to receive ultimate value, no matter what you pursue.
I sure haven't done a good job of this yet but I am trying to improve.
My next post will be about how we can apply these principles of entrepreneurship to the publishing industry and explain the visions I am having for the term "authorpreneuship."
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