Entrepreneurship is a proven way to ensure that the only person who will control your destiny is you
Yusef Qasim hangs with the likes of MTV's DJ Skribble and Damien Fahey of Total Request Live, rap group Crooklyn Clan, and Tommy Lee. Is Qasim in the entertainment biz? Not exactly. He's a senior at Quinnipiac College in Hamden, Conn. He's also an entrepreneur. His clients exchange their bling for Qasim's brains.
Qasim founded DigitalEffex and eXoStream Communications, companies that design and host Web sites for a variety of entertainment-industry clients. Because Qasim makes his clients look good, his company and his rep have grown: He's been on promotional tours across the United States and to Germany, Mexico, and nearly every country in between. He's living a life that doesn't seem too different from that of the guys he represents.
How did Qasim end up with a gig that connects computer savvy with superstars? He had a good idea and wanted to be in control of his work--while maybe doing a job better than he'd seen others do before. In essence, he wanted to be an entrepreneur.
What does entrepreneur really mean? Webster's Dictionary says an entrepreneur is "one who organizes, manages, and assumes the risks of a business or an enterprise"--that is, one who is self-employed. Look around you. Entrepreneurs are everywhere: the dog walker in your building who works for herself, the mechanic who fixes your parents' car, the funky skate shop owner, the college student making Web sites for Tommy Lee--all are entrepreneurs.
THE ENTREPRENEUR'S MIND
Entrepreneur may sound like just a fancy name for a business owner, but it's a lot more than that. Entrepreneurship is a way of thinking--an attitude that separates the folks with great ideas from those who have great ideas and the desire and energy to make them happen, no matter what obstacles may stand in their way. Starting any new business is a risk, but it's one that the entrepreneurial mind welcomes.
"An entrepreneur is anyone who is willing to take a risk in anything," Qasim says. "I like being in every situation; I'm always trying something new--it's a crazy lifestyle, living on the edge.… I definitely know I'm an entrepreneur."
"Entrepreneurship is thinking about how to achieve your goal and managing and using any and all resources available to you to do it," says Steve Mariotti, founder and president of the National Foundation for Teaching Entrepreneurship (NFTE). Mariotti's organization partners with 600 schools in 14 countries to teach low-income teens skills they can use in the business world.
TURN PASTIMES INTO PROFITS
Since childhood, Geneva Johnson and her family have enjoyed making hand-painted ethnic ceramics.
"In 2003, we decided to turn our little hobby into a business," says Geneva, 16. Today, the Johnson family--including Geneva's brother Jeremiah; sister Christina; and mother, Pamela--run the Hamilton Gallery in the Bronx, a borough of New York City. Geneva does most of the market research and marketing for the company. She created the business plan with help from NFTE. The "little hobby" has turned into a profitable business in which the Johnsons sell such items as hand-painted African-themed plates, vases, and statues for $50 and up.
As a child, Geneva says, she never dreamed she'd have her own business. But being an entrepreneur means enjoying the flexibility to work with the family she loves and creating a lasting business that will be passed down to other family members when she goes to college.
What advice does Geneva have for other entrepreneurs? "Choose something you're passionate about and [would do] even if you weren't getting paid," Geneva says.
SMART USE OF RESOURCES
"Using your resources creatively." That's how entrepreneurship is described on the Web site of the National Education Center for Women in Business at Seton Hall University. It's a fact: You need money to start a business. Most individually owned new businesses start up with an average of $6,000, according to Jeff Sloan and Rich Sloan of StartupNation.com. Entrepreneurs can apply for small-business loans or look for investors who believe in the potential of their businesses. But many first-time entrepreneurs don't have much money; that's where creativity comes into play.
Quoc Le is a living example of using resources creatively. The 22-year-old from Phoenix, Ariz., founded and owns Ares Network, a Web-hosting company. At age 16, Le started his business with every penny he had--a big risk for a kid with no business experience.
"My family isn't rich, and I started with only $200," says Le. "No matter how much money you have, you have to know how to use it wisely." That's exactly what Le did. When he needed a server to host his site, he converted his own computer into one. And instead of renting an office, he works out of his parents' house. Le's advice to budding entrepreneurs? "Instead of asking your parents for a PS2, use the money for investing in a business."
Doris Quan wasn't rich either when she started her, graphic-design business. "My business partner and I grew up in working-class communities--my family were immigrants from Hong Kong," says the 34-year-old founder of Martini Designs in Seattle. Five years ago, Quan and her partner, Martin Rincon, launched the business with just the two of them and little else. "I don't believe it's about how much money you have to start with. We started Martini with one … laptop; it [cost] about $3,000. Now we have [about] 40 computers in the shop. It's something you build."
On a $3,000 foundation, Quan and her partner built a business that today is worth about $2 million. They started out in Rincon's home office; today, they create innovative designs for clients such as Nintendo, Pokémon, and Microsoft out of their 4,500-square-foot headquarters.
"An entrepreneur is someone who can turn any opportunity into a business," Quan says, warning that entrepreneurs also must love what they do. "Fuel your passion. Don't be afraid to do what is in your heart: The rest takes a lot of tenacity. There has to be a reason [besides money] to do what you love."
START WITH THE RIGHT IDEA
If you think all entrepreneurs have to have big Donald Trump--like ideas, think again. "Entrepreneurship doesn't always have to be about reinventing the wheel," says Shelly Chenoweth, executive director of Youth Entrepreneurs of Kansas, a group for budding biz kids in the Midwest. "Sometimes it's just about finding some needs out there in your community that aren't being met."
Chris Christoudias did just that. Six years ago, he "saw that a lot of companies didn't understand how to use the Internet to help their business." Christoudias, who defines an entrepreneur as "someone who sees a need in the world and builds the solution to fix it," decided he was the one to help businesses use the Internet to their best advantage. The 28-year-old from Salem, Mass., had just earned his degree in computer engineering from Tufts University, outside of Boston.
"I really got a lot of gratification out of understanding how electronic pulses drive the screen and computer that sits in front of me," he says.
Christoudias was smart and figured out a way to enjoy those pulses for a living. With his graduation money and a grant from Tufts, he founded Digital Bungalow, an interactive agency that helps companies by building Web sites for them, setting up their online stores, and promoting their services.
"It was definitely a lot of fun, but not easy," Christoudias says of following his passion a an early age. But, he says, "I felt comfortable starting a business because I was so young and had so little to lose." Digital Bungalow has grown from employing one person, to four, to 15. Christoudias's goal is to get Digital Bungalow to the point where it no longer relies on him to exist.
And, in true entrepreneurial form, he has a Plan B. "I actually see myself doing something I've wanted to do for a long time: be a high school or college football coach … and, of course, find another company to start."
THE FIRST STEPS
Today, several organizations like NFTE are willing to give a leg up to budding entrepreneurs. About 550 colleges and universities teach entrepreneurship, and at about 49 schools, it's possible to major in entrepreneurship.
At Gonzaga University in Spokane, Wash., for example, undergrads in any discipline may also enroll in the school's Hogan Entrepreneurial Leadership Program, a four-year curriculum covering topics such as finance and operations--the tools people with good ideas need to run successful businesses. The program requires that students complete an internship and build a business plan before graduation.
"Entrepreneurship is just as much a state of mind as it is a body of knowledge," says Paul Buller, founding director of the Hogan program. "I don't know if you can teach it all that well if people don't really have it inside them to achieve.… We look for students who are not only academically capable but who really have a desire to make the world a better place."
ENTREPRENEURS NEED…
Business owner Chris Christoudias shares his top 10 necessary qualities for becoming an entrepreneur.
TIME: "It takes constant focus."
MONEY: "Only because it can help give you more of number one."
LISTENING SKILLS: "The best lessons you learn are ones you learn from others."
VISION: "Know where you are going before you leave your doorstep."
A PLAN: "The only way to measure your progress is to have an initial plan."
PATIENCE: "It takes time to get things to happen. Persistence and patience will get things there."
A NETWORK: "It's OK to not know how to do something as long as you know someone who does."
COACHING ABILITIES: "Teaching a man to fish will do more than giving a man a fish."
AN ABILITY TO DELEGATE: "An entrepreneur must be a general, not a foot soldier."
A GOOD TEAM: "No entrepreneur ever succeeded alone."
HOT LINK
Want to start a business on your own? Let the U.S. Small Business Administration's Teen Business Link be your first stop. Chart your path to success, and read about teens who have successfully put themselves to work! www.sba.gov/teens
LAWN-MOWING MOGUL
A few years ago, Cory Gaston, of Lawrence, Kan., thought he wanted to be an excavator. But when he realized that a 14-year-old hauling cement might not be taken seriously, Cory opted for a slightly less "heavy" job and started mowing lawns "to start to build a good reputation."
Today, the 17-year-old has built that good reputation with Gaston's Lawn and Landscaping. After building up slowly for a few years, he's mowing between 20 and 45 yards per week. He earned nearly $10,000 last year--while balancing work with football and school. "My favorite part is that I take pride in what I do," he says. "I started my business for both the money and the idea of being my own boss, which gives me the ability to make my own decisions and to have a flexible schedule."
What do his friends say? "I take some grief for working so much," he says. "But when kids find out that the lawn mower I was able to buy is worth more than their car, their attitude changes!"
So you want to be an ENTREPRENEUR?
The experts agree: Entrepreneurs are people who own their own businesses--but that's just the beginning. Being an entrepreneur is about being independent and a freethinker and really loving what you do. So if you answer yes to any of the following questions, being an entrepreneur might be right for you.
* Do you have a hard time listing just one job or career when you're asked what you want to do when you grow up?
* Do you do things before being asked? Are you self-motivated? Being an entrepreneur can be hard work--Bill Gates didn't get where he is by sitting on the couch.
* Is it really important to you to set your own rules instead of following someone else's?
* Are you so passionate about something--cooking, landscaping, doing magic tricks, designing Web pages, working with numbers or money--that you would do anything to do it for a living?
* Can you deal with knowing that your hours might vary each month, or your paychecks may be sporadic? Usually, the boss gets paid last and works the hardest!
* Are you a good problem solver? Do you look at things and say, "Hey, there's an easier way to do that, and I think I know how"? There may be a business opportunity right in front of you
By: Esposito, Jennifer Chase, Career World, 2006
Qasim founded DigitalEffex and eXoStream Communications, companies that design and host Web sites for a variety of entertainment-industry clients. Because Qasim makes his clients look good, his company and his rep have grown: He's been on promotional tours across the United States and to Germany, Mexico, and nearly every country in between. He's living a life that doesn't seem too different from that of the guys he represents.
How did Qasim end up with a gig that connects computer savvy with superstars? He had a good idea and wanted to be in control of his work--while maybe doing a job better than he'd seen others do before. In essence, he wanted to be an entrepreneur.
What does entrepreneur really mean? Webster's Dictionary says an entrepreneur is "one who organizes, manages, and assumes the risks of a business or an enterprise"--that is, one who is self-employed. Look around you. Entrepreneurs are everywhere: the dog walker in your building who works for herself, the mechanic who fixes your parents' car, the funky skate shop owner, the college student making Web sites for Tommy Lee--all are entrepreneurs.
THE ENTREPRENEUR'S MIND
Entrepreneur may sound like just a fancy name for a business owner, but it's a lot more than that. Entrepreneurship is a way of thinking--an attitude that separates the folks with great ideas from those who have great ideas and the desire and energy to make them happen, no matter what obstacles may stand in their way. Starting any new business is a risk, but it's one that the entrepreneurial mind welcomes.
"An entrepreneur is anyone who is willing to take a risk in anything," Qasim says. "I like being in every situation; I'm always trying something new--it's a crazy lifestyle, living on the edge.… I definitely know I'm an entrepreneur."
"Entrepreneurship is thinking about how to achieve your goal and managing and using any and all resources available to you to do it," says Steve Mariotti, founder and president of the National Foundation for Teaching Entrepreneurship (NFTE). Mariotti's organization partners with 600 schools in 14 countries to teach low-income teens skills they can use in the business world.
TURN PASTIMES INTO PROFITS
Since childhood, Geneva Johnson and her family have enjoyed making hand-painted ethnic ceramics.
"In 2003, we decided to turn our little hobby into a business," says Geneva, 16. Today, the Johnson family--including Geneva's brother Jeremiah; sister Christina; and mother, Pamela--run the Hamilton Gallery in the Bronx, a borough of New York City. Geneva does most of the market research and marketing for the company. She created the business plan with help from NFTE. The "little hobby" has turned into a profitable business in which the Johnsons sell such items as hand-painted African-themed plates, vases, and statues for $50 and up.
As a child, Geneva says, she never dreamed she'd have her own business. But being an entrepreneur means enjoying the flexibility to work with the family she loves and creating a lasting business that will be passed down to other family members when she goes to college.
What advice does Geneva have for other entrepreneurs? "Choose something you're passionate about and [would do] even if you weren't getting paid," Geneva says.
SMART USE OF RESOURCES
"Using your resources creatively." That's how entrepreneurship is described on the Web site of the National Education Center for Women in Business at Seton Hall University. It's a fact: You need money to start a business. Most individually owned new businesses start up with an average of $6,000, according to Jeff Sloan and Rich Sloan of StartupNation.com. Entrepreneurs can apply for small-business loans or look for investors who believe in the potential of their businesses. But many first-time entrepreneurs don't have much money; that's where creativity comes into play.
Quoc Le is a living example of using resources creatively. The 22-year-old from Phoenix, Ariz., founded and owns Ares Network, a Web-hosting company. At age 16, Le started his business with every penny he had--a big risk for a kid with no business experience.
"My family isn't rich, and I started with only $200," says Le. "No matter how much money you have, you have to know how to use it wisely." That's exactly what Le did. When he needed a server to host his site, he converted his own computer into one. And instead of renting an office, he works out of his parents' house. Le's advice to budding entrepreneurs? "Instead of asking your parents for a PS2, use the money for investing in a business."
Doris Quan wasn't rich either when she started her, graphic-design business. "My business partner and I grew up in working-class communities--my family were immigrants from Hong Kong," says the 34-year-old founder of Martini Designs in Seattle. Five years ago, Quan and her partner, Martin Rincon, launched the business with just the two of them and little else. "I don't believe it's about how much money you have to start with. We started Martini with one … laptop; it [cost] about $3,000. Now we have [about] 40 computers in the shop. It's something you build."
On a $3,000 foundation, Quan and her partner built a business that today is worth about $2 million. They started out in Rincon's home office; today, they create innovative designs for clients such as Nintendo, Pokémon, and Microsoft out of their 4,500-square-foot headquarters.
"An entrepreneur is someone who can turn any opportunity into a business," Quan says, warning that entrepreneurs also must love what they do. "Fuel your passion. Don't be afraid to do what is in your heart: The rest takes a lot of tenacity. There has to be a reason [besides money] to do what you love."
START WITH THE RIGHT IDEA
If you think all entrepreneurs have to have big Donald Trump--like ideas, think again. "Entrepreneurship doesn't always have to be about reinventing the wheel," says Shelly Chenoweth, executive director of Youth Entrepreneurs of Kansas, a group for budding biz kids in the Midwest. "Sometimes it's just about finding some needs out there in your community that aren't being met."
Chris Christoudias did just that. Six years ago, he "saw that a lot of companies didn't understand how to use the Internet to help their business." Christoudias, who defines an entrepreneur as "someone who sees a need in the world and builds the solution to fix it," decided he was the one to help businesses use the Internet to their best advantage. The 28-year-old from Salem, Mass., had just earned his degree in computer engineering from Tufts University, outside of Boston.
"I really got a lot of gratification out of understanding how electronic pulses drive the screen and computer that sits in front of me," he says.
Christoudias was smart and figured out a way to enjoy those pulses for a living. With his graduation money and a grant from Tufts, he founded Digital Bungalow, an interactive agency that helps companies by building Web sites for them, setting up their online stores, and promoting their services.
"It was definitely a lot of fun, but not easy," Christoudias says of following his passion a an early age. But, he says, "I felt comfortable starting a business because I was so young and had so little to lose." Digital Bungalow has grown from employing one person, to four, to 15. Christoudias's goal is to get Digital Bungalow to the point where it no longer relies on him to exist.
And, in true entrepreneurial form, he has a Plan B. "I actually see myself doing something I've wanted to do for a long time: be a high school or college football coach … and, of course, find another company to start."
THE FIRST STEPS
Today, several organizations like NFTE are willing to give a leg up to budding entrepreneurs. About 550 colleges and universities teach entrepreneurship, and at about 49 schools, it's possible to major in entrepreneurship.
At Gonzaga University in Spokane, Wash., for example, undergrads in any discipline may also enroll in the school's Hogan Entrepreneurial Leadership Program, a four-year curriculum covering topics such as finance and operations--the tools people with good ideas need to run successful businesses. The program requires that students complete an internship and build a business plan before graduation.
"Entrepreneurship is just as much a state of mind as it is a body of knowledge," says Paul Buller, founding director of the Hogan program. "I don't know if you can teach it all that well if people don't really have it inside them to achieve.… We look for students who are not only academically capable but who really have a desire to make the world a better place."
ENTREPRENEURS NEED…
Business owner Chris Christoudias shares his top 10 necessary qualities for becoming an entrepreneur.
TIME: "It takes constant focus."
MONEY: "Only because it can help give you more of number one."
LISTENING SKILLS: "The best lessons you learn are ones you learn from others."
VISION: "Know where you are going before you leave your doorstep."
A PLAN: "The only way to measure your progress is to have an initial plan."
PATIENCE: "It takes time to get things to happen. Persistence and patience will get things there."
A NETWORK: "It's OK to not know how to do something as long as you know someone who does."
COACHING ABILITIES: "Teaching a man to fish will do more than giving a man a fish."
AN ABILITY TO DELEGATE: "An entrepreneur must be a general, not a foot soldier."
A GOOD TEAM: "No entrepreneur ever succeeded alone."
HOT LINK
Want to start a business on your own? Let the U.S. Small Business Administration's Teen Business Link be your first stop. Chart your path to success, and read about teens who have successfully put themselves to work! www.sba.gov/teens
LAWN-MOWING MOGUL
A few years ago, Cory Gaston, of Lawrence, Kan., thought he wanted to be an excavator. But when he realized that a 14-year-old hauling cement might not be taken seriously, Cory opted for a slightly less "heavy" job and started mowing lawns "to start to build a good reputation."
Today, the 17-year-old has built that good reputation with Gaston's Lawn and Landscaping. After building up slowly for a few years, he's mowing between 20 and 45 yards per week. He earned nearly $10,000 last year--while balancing work with football and school. "My favorite part is that I take pride in what I do," he says. "I started my business for both the money and the idea of being my own boss, which gives me the ability to make my own decisions and to have a flexible schedule."
What do his friends say? "I take some grief for working so much," he says. "But when kids find out that the lawn mower I was able to buy is worth more than their car, their attitude changes!"
So you want to be an ENTREPRENEUR?
The experts agree: Entrepreneurs are people who own their own businesses--but that's just the beginning. Being an entrepreneur is about being independent and a freethinker and really loving what you do. So if you answer yes to any of the following questions, being an entrepreneur might be right for you.
* Do you have a hard time listing just one job or career when you're asked what you want to do when you grow up?
* Do you do things before being asked? Are you self-motivated? Being an entrepreneur can be hard work--Bill Gates didn't get where he is by sitting on the couch.
* Is it really important to you to set your own rules instead of following someone else's?
* Are you so passionate about something--cooking, landscaping, doing magic tricks, designing Web pages, working with numbers or money--that you would do anything to do it for a living?
* Can you deal with knowing that your hours might vary each month, or your paychecks may be sporadic? Usually, the boss gets paid last and works the hardest!
* Are you a good problem solver? Do you look at things and say, "Hey, there's an easier way to do that, and I think I know how"? There may be a business opportunity right in front of you
By: Esposito, Jennifer Chase, Career World, 2006
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