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The Urban Entrepreneur #1: Reflections and introduction

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Blog entry by sawblade1 posted 12-27-2011 07:10 AM 903 reads 3 times favorited 2 comments Add to Favorites Watch
no previous part Part 1 of The Urban Entrepreneur series Part 2: The real game Plan or ( the business plan you will throw out) »

Good Evening LJ’s,

I know it has been a while since I posted here on LJ’s but that is because I have been busy in a sense and on another I was in a major funk :( So Get your glasses and a cup of coffee this is going to be a long post I hope you enjoy.

All year has seen setback one after another wondering what was wrong I went on a research binge well her is my story of why Get ready this is deep!!!

This past Sept 27th I attended a Presentation put on by LRMR Marketing and The Cash Flow called 330 CEO’s Well during my venture to do a 60 second elevator pitch to win 10,000 Dollars for my business I met a lot of great people and learned immensely about what I was doing wrong LOL :) One thing I found out was I was an urban entrepreneur and got to learn from some others about what it took. What is a urban entrepreneur?

1. SLANG: Elegant way of saying someone is a street hustler; someone who makes money selling illegal merchandise (or legal merchandise illegally) on the street or in an urban/ghetto area out of his residence or an illegal place of business (ex. warehouse, back of a grocery store, etc.).

2. PROPER: One who owns a business that caters to the city life, or owns a business located in a city. The term entrepreneur is more correctly reserved for one “seen as a business leader and innovator of new ideas or business processes.”

As woodworkers Well off or starving Under employed, Unemployed, or Just loving what we do we don’t want to be classed with the guy selling bootleg DVD’s out his van on the corner but let’s face reality ask yourself these Questions.

1. Do I have a store? or do I sell my wood working out the back of my truck ?

2. Do I have a 50,000 sq ft shop with the latest tech to mass produce? and employees at my disposal ?

3. Do I have a passion for what I do but no Funds to do it with but have the basic tools to make it.

We are the same if you answered the questions right if you didn’t you shouldn’t be reading this post.

The top ten things that define an Urban Entrepreneur (taken from under 30 CEO)

The term “urban entrepreneur” has two principal connotations: someone who starts with no resources and builds a company or brand into a success; and someone who uses the perfect blend of book and street smarts to run their business well.

1) Urban entrepreneurs stand at the intersection of street smarts and business smarts. We are agile, passionate and inspirational.

Typically, UE’s admire the business moguls who have made use of the skills they learned in the streets to help them run their businesses. One obvious example is Jay-Z, who lifted himself from a rough upbringing in Brooklyn’s Marcy Houses and turned himself into a global icon.

2) To be an urban entrepreneur is to choose a different path — one built on creativity and resourcefulness. When resources are limited, we must create them; when unexpected barriers come up, positivity must kick in; when our peers say we can’t do it, we must continue to climb.

UE’s are loaded with great ideas and concepts for products, but generally have little startup capital to work with. In some cases, though, limited resources can be a gateway to entrepreneurship. One year a man named Michael Kittredge wanted to give his mother a heartfelt Christmas gift but couldn’t afford anything fancy. His problem ended up the greatest thing ever to come from crayon wax and rope: Yankee Candle.

In 1998, Kittredge sold his company to a private-equity firm for $500 million, having along the way inspired many other entrepreneurs — including his son, Mick, who founded his own company, Kringle Candle, last year.

3) To me, urban entrepreneurship means the opportunity, the ability and the desire to do what is needed, where it is needed most.

An aptitude for filling marketplace voids is one thing UE’s tend to have in common. It begins simply, often in childhood — that kid who, in the immediate aftermath of a major snowstorm, is knocking on his neighbors’ doors, offering to clear their driveway for a fee? He’ll grow up to be an urban entrepreneur. Find a void, fill it — lock in and conquer.

4) Urban entrepreneurship means financial independence, creative freedom and being able to inspire other urban youths to follow their dreams.

You’ll find that most UE’s place a high priority on giving back to their community — altruism that stems from knowing the feeling of having a great idea and needing just a little help to get over a hurdle. Why take our word for it, though? A sense of community pervades the comments of many of the other 100 Urban Entrepreneurs:

5) I’ve always enjoyed taking an idea from nothing and turning it into something. The excitement of discussing entrepreneurship with kids and seeing the desire in their eyes makes being an entrepreneur priceless.

6) Urban entrepreneurship is the power of understanding how to bring out the best in people to build an empire that thrives on community and the people who make your idea a success.

7) Urban entrepreneurship means building an empire and leaving a legacy while not forgetting where you came from. Success means nothing if you don’t help others along the way.

8) Urban entrepreneurship means my success is not solely for my benefit — that we have a greater responsibility to reach other young “could be” urban entrepreneurs to illuminate their path with the beauty of our light so that they, too, can delight in the joy of success and pass it on.


9) Urban entrepreneurship means investing resources in yourself and that which is directly around you.

And, finally, urban entrepreneurship is about aspiring to reach the greatest heights of economic success — for with success comes freedom, and the chance to pass on your wisdom to those who follow in your footsteps the way you followed in those who came before you:

10) Being an urban entrepreneur means the ability to manifest your fullest potential of the true spirit of the American Dream — to have the freedom to carry on the journey of entrepreneurship, while remembering who you are and where you came from to leave a trace of inspiration and know-how along the trail.

As an urban woodworker working out of our basement and garages having family instead of employees wanting to sell our woodwork to the world have a different set of rules The rules of the SBA and the Business practice of the main street don’t apply to us. We might not be able to secure $50,000 in loans or capital, we might not be able to spend thousands on marketing or business sometimes all we have is a circular saw and a cup of coffee and a dream. In part two I will cover the basics to get started

-- Proverbs Ch:3 vs 5,6,7 Trust in the lord with all thine heart and lean not unto your own understanding but in all your ways aknowledge him and he shall direct your path elmerthomas81@neo.rr.com



2 comments so far

View Dave's profile

Dave

11170 posts in 1505 days


#1 posted 12-27-2011 07:36 AM

Sawblade I like what I am hearing. But What happened to Sam Waltons dream store, where at one time 85% of inventory was American made. He died and corporate took over.
And what will happen to the candle company now that they have sold out. Will it go to China or Mexico?

That is my worst fear. We need good American made products that will last for 50 years or more. They may have a premium price but you get what you pay for.
I await your next entry.
I don’t want to be rich just comfortable.

-- Superdav "No matter where you go - there you are." http://chiselandforge.com

View jack1's profile

jack1

1929 posts in 2692 days


#2 posted 12-28-2011 03:18 AM

Just did a toy box for someone. Charged $300. Why? Solid oak, unique design, hand rubbed finish that should last for more than 50 years. Some appreciate the effort, some don’t. Did I make money? Not really but I covered cost and got hourly…

-- jack -- ...measure once, curse twice!

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