Thursday, September 02, 2010

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UPS and TES – Atlanta Growth Through Global Trade Seminar a Success

The Growth Through Global Trade Seminar in Atlanta was a success yesterday. We were fortunate to have a wonderful group of people from small business owners to exporters, importers,  freight forwarders, logistic companies and many others. The Metro Atlanta Chamber (MAC) was a wonderful host. Thank you to everyone from MAC for your hard work and wonderful facilities. UPS had its team of people there as well. Much thanks for their hard work. Check out their Twitter Page as they were twittering throughout the event.

Jim and Chris explored  the world of global trade through their own businesses as well as others.  They looked at how to find opportunities and partners in other countries as well as resources for entrepreneurs.  The audience also contributed greatly through their own experience.

The next event is in San Jose, CA on August 24 – check it out.

AJC Features The Entrepreneur School

First, we’re excited to announce the AJC featured The Entrepreneur School in a recent article.

But, before I get to that here’s a fun story about email marketing leading to a newspaper article. This also illustrates one of the concepts we teach at The Entrepreneur School called the corridor principle.   Basically said, the corridor principal teaches that once an entrepreneur starts a business and the sets down the path of that business the entrepreneur will gain access to new opportunities through “corridors” opened because of the business previously started.

As you may have read, we have done several e-mail campaigns through Constant Contact.   This has already led to many interesting opportunities, including a press release by Constant Contact. More recently, one of our e-mails was picked up by an AJC journalist. This is similar to the corridor principal in that we started down a path of e-mail marketing for the launch of the school and we ended up being featured in a major newspaper publication.  Now this wasn’t our primary goal  for the e-mail campaign; but we are certainly excited to get the e-mail back from Laura Raines.

Beach and Hanks are passionate about teaching entrepreneurship, and they wanted to create an affordable resource for anyone interested in becoming his own boss. For $29 a month, Entrepreneur School members gain access to 70 hours of video training — the equivalent of three or four semesters worth of MBA-level lectures and other resources. – From the AJC Article

Laura writes the educational opportunities column for the AJC.   She was previously connected to Chris Hanks, faculty at The Entrepreneur School and at UGA’s Entrepreneurship Program and was excited to get our e-mail about the site launch. Thus, she contacted us to feature The Entrepreneur School in her column. Within a week, she had an article published.

Interestingly enough, Laura mentions Jim Beach about a corridor principle in the article.

Take a look at the article:   “Jobs: low–risk  entrepreneurship is within almost anyone’s reach

Here are some quotes from her article:

In quoting Jim and Chris: “Research shows that 72 percent of adults want to start a business, but only about 13 percent ever make that step,” Hanks said. “That’s a huge gap and for reasons that aren’t necessarily true. People think it’s too risky or they’re not that kind of person. If you’ve got the desire and the passion, we can show you how.”

You don’t have to quit your job and start a $1 million business. You don’t have to swing for the fences and put your family at risk. It’s OK to hit a single,” Beach said. “If you started a business that brought in an extra $1,000 or $2,000 a month, how would that change your life?”

Now is the Time

You hear people say it all the time.  If I just had an extra hour in the day, I could do so much.  I could start a business, exercise more, or prepare home-cooked meals.  Just one hour a day.

Well, according to a new survey highlighted in this morning’s Wall Street Journal researching time management as unemployment rises, Americans are not using extra time wisely.  In a survey questioning people who now have more time due to unemployment or fewer working hours, the extra time these people now had did not translate into more productive hours.  Instead, the time was filled with TV watching and sleeping.

At The Entrepreneur School, we teach that ‘Now is the Time.’  Now is the time to start your business.  Now is the time to learn a new skill that will increase your chances for another job.  Now is the time, as in Today.  How many people do you know who talk about the business they wan to start, but never take the first steps?

One of the best things you could do right now is to transfer your Cable TV subscription into a Cable Modem subscription and turn your television set into a second computer monitor.  Then, use the time you would have spent watching “Friends” reruns to start a business on the side or take online classes for a new skill set.  If you are recently unemployed, don’t fall into the temptation of sleeping in.  Keep solid hours and try to use your skill set to make money on the side as you look for full-time employment.  Who knows, you may start making enough money on your side venture that you don’t need to look for a job anymore.

As one of my high school teachers always said, “Time is money, honey.”

Boostrapping Real Estate Development

I just finished a series of Real Estate Development classes from the Urban Land Institute. The Urban Land Institute offers 2 certificates :  1.  Real Estate Development & 2. Real Estate Development and Finance.

So I’m focusing on Development and Finance.  Two years ago I took 2 of the 4 needed classes in LA and the experience was wonderful.  I flew out with my wife to a classy hotel and spent 10 days learning about one of my passions and spending time with colleagues from all walks and places.   Quick note – 2 years ago I was employed with a boutique developer/finance firm.  They paid the cost of the trip and classes.  Now, I’m self employed and its coming out of my back pocket – needless to say the current trip to DC is a bit different than the previous trip.

Two thoughts have occurred to me as I’ve been in class:

  1. How can one employ the premise of low risk entrepreneurship to Real Estate Development and achieve success.
  2. The difference between continuing education for the entrepreneur versus the employee.

Point 1.

So a central premise to The Entrepreneur School is that of lowering your risk to start a business to such a point that the risk is greater to not start that business.   How does this work for the “highly risky” environment of real estate development?  Real Estate development is capital intensive and extremely risky on the front end of a deal.  What do I mean by risky?  Well, if you had $100,000 to invest in a Real Estate Development project you could eat that up in the first 2 or 3 steps of evaluating a deal.

1st as a developer you have several places from which to start – you can start with a piece of property, an idea for a certain area, money to spend on a development project, or a combination of these.  Much like the entrepreneur a developer has a choice as to how he starts his first project or any project.  Given that a developer can start from many different angles, then the developer can choose to put priority on profitability and the ability to bootstrap the project. It takes intentionality.

Ways to Bootstrap Development:

  • Sell sweat equity
  • Find lower risk niches in the development process
  • Fee Development

Faculty to Appear on CNN Wednesday 12 to 1pm

Chris Hanks and I will appear on CNN tomorrow between noon and 1 pm.  

CNN decided now is a great time to run the feature as today President Obama is meeting with small business owners as part the Small Business Week Observances  (see link).  They plan on doing some promotional spots for the feature today during their coverage of President Obama’s meeting to drive viewers for tomorrow.

The story is about Chris’ efforts at UGA and his program the Next Top Entrepreneur.  I am a judge commenting on the presented business plans….

GREAT JOB CHRIS!

The Entrepreneur School Programs and Costs

The Entrepreneur School has several different ways in which a prospective students can enroll. The basic premise is paid access gives you unlimited ability to go through the school’s 13 module curriculum of online video lectures, supporting reading packets and additional videos.  The curriculum’s  logical progression moves you from the beginning stages of entrepreneurship, answering the questions of who can be an entreprneur, why should one be an entrepreneur, etc.. through the business startup steps of ideas and creativity, financing, importing/exporting, marketing, etc..  So you can move in the prescribed order or you can also elect to jump into and out of modules at your discretion.

One caveat, the silver package allows you to purchase unlimited access to one module out of a group of selected modules.  If you are interested in a module not selected let us know and we’ll try to set it up for you.

See the two pictures below for a visual summary of the programs.

One may ask how we arrived at our pricing.  Basically, we wanted to get this material in the hands of as many would-be entrepreneurs as we could.  This stuff changed each of our lives and so we wanted to get it out.  We also want to make money.   We see the following in Entrepreneur Training/Education:

  1. MBA schools with Entrepreneurship Programs or Centers – Very Comprehensive; little success rate in training entrepreneurs; good network; expensive – think $25k – $100k (or more).
  2. Training Conferences  or Seminars – Good introduction to training; not as comprehensive;  don’t know about networking potential; cost range $500 to several thousand dollars;
  3. Government Sponsored or Government Entities – I think we can guess on this one…2 thumbs down from what I’ve heard.
  4. Books – I read tons of books on entrepreneurship and it never pushed me over the edge; they are a great resource when combined with something else but not as a stand-alone resource.
  5. Other Online Training – We found some good material out there but nothing as comprehensive and the prices varied from very cheap or free to overly expensive.  Also, many products were very “salesy” like snake-oil salesman styled pitches with little substance.

Summary – it seemed prices were either very cheap or very expensive while the products were all over the map.  So are goal was to take our low-risk philosophy and create an inclusive and informative product that would create entrepreneurs and to do this at a price that would allow many to enroll in the school. Thus, the $29/month price.  So we have a very strong product at a very affordable price.

We hope you enjoy!

Can You Learn to be an Entrepreneur…CNN’s Take

In doing some research I just came across an article debating the question about learning entrepreneurship (CNN on Can you Learn to be an Entrepreneur)

We’ve debated and answered that one can learn entrepreneurship; this is one of our central tenants at The Entrepreneur School. The CNN article starts out highlighting Greg Fairbrothers, founder of the Dartmouth Entrepreneurial Network.  One quick thought I had was wondering whether Greg Fairbrothers was himself an entrepreneur.  (I checked out his bio here)

Here are a few interesting quotes from the article:

Twenty years ago teaching people how to start their own businesses was a sideshow at B-schools, of scant interest to future consultants and Wall Streeters. Today entrepreneurship education is everywhere. More than two-thirds of U.S. colleges and universities — well over 2,000, up from 200 in the 1970s — are teaching it, and they offer it to all comers: social workers, farmers, and even musicians. The field is thriving, but have we figured out yet the best way to teach this stuff? If not, are we at least getting better at it? And can you even teach someone to be an entrepreneur?

According to a Kauffman Foundation study published early this year, the surge in entrepreneurial education during the past three decades has had “no appreciable impact on entrepreneurial activity in the United States.” Even at Tuck, less than 2% of graduates immediately start their own businesses.

Entrepreneurship is not “an all-or-none trait that some people or organizations possess and others don’t,” the authors wrote, but rather “a range of behavior.”

By developing in students the proper attitude toward risk, for instance. Entrepreneurship isn’t about the love of living on the edge; that’s pure myth. “You’re all about de-risking your idea,” says Fairbrothers. He means one, identifying, unblinkingly, what could go wrong; and two, taking whatever steps necessary to slash the odds that it will. You do that by relentless learning — about your market, your customers, your competitors, and if you’re truly new at this, about the nuts and bolts of business.

Join Chris and Jim as Business Partners – Job Opportunity – Please Tell Your Friends!

Now that The Entrepreneur School is open for business and accepting enrollment, we are excited to offer you a job!  As our business partner.  Do you want a new stream of income to decrease your financial risk?  Looking for something to do in addition to your normal job?  Looking for a first step in entrepreneurship?  We have a solution for you.

Here’s what we are going to do.  We are offering you a job as an Entrepreneur Evangelist. As such, you will get as many people to join the site as possible.  For each month that your members are active, we will pay you $9, per person.  That’s a 33% commission!  Get 100 to join, and you make $900 the first month and $900 the second month, etc. Do something creative like posting a notice in your church bulletin board, and change your life.

ALSO, we are having a contest each month.  To our best seller each month, we will give them a iPad!

To sign up and get your personal code (what you will give out to the people you sign up), email me at james.beach@att.net

The Entrepreneur School Open For Business!!

Well, its been a long time in the coming!  We filmed the videos for the website about 9 months ago.  Since then, sincere to our low-risk, low-cost strategy, we have built this huge resource for next to nothing.  By bootstrapping, we will be able to offer this incredible collection of “How to Start a Business” videos for only a $30 a month.  The site is now ready.  It took us awhile, but the wait was worth it. Click here to enroll and get started today.

Constant Contact Press Release Features The Entrepreneur School

We’re honored to have been featured in a Constant Contact press release especially since they have 350,000 clients from which to chose.  Constant Contact reached out to us a few weeks ago.  We had been using Constant Contact as our email marketer and they liked our implementation and business concept. The press release was put together over the last few weeks and released on Monday.  I’ve got a screen shot posted below.  Here are a few links:
text here

This is an exciting piece of news for The Entrepreneur School as we were recognized by a well-recognized industry leader.   We have no formal connection to Constant Contact so it came out of the blue for us.  They liked our product and liked the way we were using theirs.  Thus, they wanted to feature us. The great thing about a press release like this is all the residual links it generates. I did a quick google search and take a look at the the number of links the press release created:

Press Release Screen Shot:

CNN Interview with Chris Hanks

Exciting news – I had a chance today to be interviewed by CNN.  I’ll update with more details.

Do Membership Sites Make Money?

The press is dying.  Almost every newspaper in the US is losing money and many have closed. Their solution is to charge for memberships, to make their readers pay for access to articles.  Some outlets (like the New York Times) are planning to charge by the article.  You buy access to 50 articles, or 100 articles, over an unlimited amount of time.  Other outlets (like the Wall Street Journal) plans to charge amonthly fee, for complete access to all articles.  But early experiments have failed and cast a real doubt on whether the public will pay for site access.  It seems that we expect web information to be free.

This issue is of vital interest to us here at The Entrepreneur School.  Our whole business model requires our users to pay.  So, we hope that people are willing to pay for education and material success!  But how much should we charge?   Do we price for mass appeal (cheap) or charge for exclusivity (expensive)?

Anne Holland of StomperNet has conducted a survey of nearly one thousand membership sites.  Her data concludes that:

  • the industry is pulling in over $15 billion a year.
  • 17% of sites make over one million a year in PROFIT, not revenue!
  • Almost 60% of sites are profitable in under a year.
  • eBooks are a great place to start.
  • A competitor can easily be your best marketing partner.
  • Related eBook publishers, associations, social networking groups will be traffic drivers.
  • Paid content and free content can co-exist, but must be different enough so that users immediately see the advantage of joining.
  • People pay for content they are incredibly passionate about.
  • Sites can be about anything.  Profitable sites include on investing, embroidery, weight lifting, and even bouncy, inflatable castles!
  • Most pay sites (over 85% ) fail to use aggressive search marketing!

15 Entrepreneur Questions from UGA

We are currently at the University of Georgia with Jim and Chris. They are answering questions on entrepreneurship for a group of students. We are filming the Q&A series as it will be apart of The Entrepreneur School.

I’ve listed the questions below along with some highlights from the answers.

1. How was the transition from working for Coke to Entrepreneur?

2. How would you advise a student who is transitioning from Undergrad to either entrepreneurship or a grad degree?

3. If spending a great deal of money on a startup raises risk how do you start a business with little captial? Even as a student?

4. Should I work for an entreprneur or start slow and small on my own?

5. If I am only going to spend 5k-10k where would I spend the money?

6. How do I get the idea in the first place?

7. What are some necessary legal aspects of starting a business?

8. How do you choose a business partner and selection of equity for each?

9. Does bartering work for bootstrapping?

10. How do you determine what is a good deal with web programming?

11. Are there differences  between what you are saying here for an  independent contractor?

12. How does a web marketer or service business entrepreneur advertise itself?

13. When should you start paying yourself?

14. You’ve both started businesses where you were the originated the idea how did you bring in people who you could trust; instill the idea; etc…?

15. What are you 1 or 2 reasons for success or failure?

Change Your Life Now

Start by watching our first 7 video modules for free. Click here to begin.

Recent Media Coverage

The Entrepreneur School featured on CNN The Entrepreneur School in the Atlanta Journal Constitution

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Professors Jim Beach & Chris Hanks are featured in Global Atlanta.
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