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Mentality of Success:  Learning from the Immigrant Business Experience

Mentality of Success: Learning from the Immigrant Business Experience



bThis presentation was made on 4/21/2012 at the National Hispanic Leadership Conference. The goal is to highlight the amazing success stories of immigrant entrepreneurs, and to encourage others ...

bThis presentation was made on 4/21/2012 at the National Hispanic Leadership Conference. The goal is to highlight the amazing success stories of immigrant entrepreneurs, and to encourage others (especially non-immigrants) to "Think and Act Like an Immigrant" (quote from billionaire Omid Kordestani, 12th employee of Google, inventor of its business model, and immigrant from Iran/UK).



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  • And whose talking about immigration? (How many shows does Lou Dobbs do a year? Is he on 7 days a week? If he only does 5 days/week than he covers illegal immigration 4 of those 5 nights).
  • And when these guys talk about immigration, they talk about crime and welfare and all the problems these immigrants generate. I mean it’s a well-known fact that immigrants generate crime and that our border states are overrun in criminal activity from Mexican drug cartels. Isn’t it?
  • LOOK AT THE FACTS: According to the Associated Press report in June 2010 “The top four big cities in America with the lowest rates of violent crime are all in border states: San Diego, Phoenix, El Paso and Austin, according to a new FBI report. And an in-house Customs and Border Protection report shows that Border Patrol agents face far less danger than street cops in most U.S. cities.” Immigrant incarceration rates are 20% of non-immigrant rates, a robust statistic that holds up even after naturalization.WELL, LET’S LOOK AT SOME MORE FACTS UNCOVERED IN THE GLOBAL DETROIT REPORT
  • Here is our mission: Immigrants and economic development
  • Here is our mission: Immigrants and economic development
  • Michigan’s Economic Crisis Metro Detroit regional unemployment hovering at 14-15 percent, near 150 percent of the national average and the second highest of the 49 metro areas with more than one million people Over the last decade, it is anticipated that Michigan will have lost over 1 million jobs, approximately one quarter of all of its jobs In less than one decade, Michigan likely will move from a wealthy and prosperous state to one of the poorest. From 1999 to 2007, Michigan residents moved from the 17th wealthiest per capita personal income in the nation to 39th, an unprecedented drop of 22 spots in eight short years. It is anticipated that by the time 2009 statistics are available, Michigan will be one of the 10 poorest states in the union, less than a decade after being in the top third! Michigan’s crisis is not solely the crisis of economic restructuring, Michigan’s crisis also is a crisis of spirit and culture. The transformation of Detroit from America’s fourth richest to its poorest confounds and disturbs. The conditions within the city’s neighborhoods, its schools, its infrastructure, etc. have deteriorated so significantly that they are virtually unrecognizable a generation after Detroit’s mid-20th Century glory. A Way Forward One of the most consistent similarities between these various catalyst regions of the 20th and 21st Centuries is the large presence of immigrants. Immigrants were at the sources of early 20th Century midwestern industrial cities like Detroit that propelled America’s growth and they are a significant part of the regions that serve as economic catalysts in today’s world. In 1910, 30 percent of the metropolitan Detroit region was foreign born. In 2007, Silicon Valley’s population was about 36 percent foreign born, almost three the national average of 12.6 percent. “History teaches us that from every major economic crisis, America has emerged stronger, smarter and more innovative—it’s in our DNA . . . It’s that time again. We must write a new chapter in the story of American innovation . . . Many people around the country think that our state is broken, done-for, intellectually bankrupt. We all know otherwise. History teaches us that our future will depend on how quickly, and how well, we innovate and adapt.” --Patricia Mooradian, President, The Henry Ford“Advancing a Culture of Innovation”Address before the Detroit Regional Chamber of CommerceMackinac Island Policy Conference, May 28, 2009

Mentality of Success:  Learning from the Immigrant Business Experience Mentality of Success: Learning from the Immigrant Business Experience Presentation Transcript

  • Mentality of Success Learning From the Immigrant Business ExperienceRichard Herman 17th Annual Hispanic Leadership Conference
  • Key to Success:“think like an immigrant” Omid Kordestani
  • “IMMIGRANT, INC” ---- A CULTURE  Family  Education  Entrepreneurship  Self-Reliance  Thrift Love of Country & the Dream
  • ….Isn’t “Immigrant” a Dirty Word?
  • George Carlin‟s 7 Dirty Words
  • 182Number 146of ShowsIncluding 74Discussionof IllegalImmigration Louin 2007 OReilly Dobbs Glenn Factor Tonight Beck
  • 52% 45%Proportions 39%of Discussionson IllegalImmigrationMentioningCrime in 2007 Lou OReilly Dobbs Glenn Factor Tonight Beck
  • Immigration and Crime FACTS San Diego, Phoenix, El Paso, and Austin Immigrant Incarceration Rates are one-fifththe incarceration rates of people born in the U.S.
  • Run for the Border 3 Mile Run Get your Green Cards Stamped
  • Growing Corn,Not Raising Families
  • We don’t talk aboutimmigrants as the Dream- Keepers, the Job- Creators, the Bedrock of Family-Values, the ENGINE that makes America work!
  • A New Local/National Movement: Welcoming Immigrants to Spur Economic GrowthChicago Mayor‟sOffice for NewAmericansGlobal Philly
  • Immigrant-Founded Companies Compiled by Richard Herman, www.ImmigrantInc.com
  •  2.8 Million BusinessesLatino-  $400 Billion in AnnualOwned RevenueBusiness  $65 Billion in Payroll  2.2 Million Employeesin USA
  • Immigrants Start Companies & Create Jobs* 40% of Fortune 500 companies were founded by an immigrant or child of an immigrant* These companies employ 10 million people worldwide, and generate $4,200,000,000,000 in revenue per year 2011 study by Partnership for a New American Economy
  • 7 of 10 most valuable brands in theworld were created by U.S. immigrants or children of U.S. immigrantsFord Google IntelGE Budweiser Home DepotAT&T McDonald’s U.S. SteelBoeing IBM DowDisney Kraft UPSApple Procter & Gamble Estee LauderHertz Levi’s DuPontPfizer Bank of America Heinz
  • Ohio Immigrant Entrepreneurs & Consumers: The Facts• 13,740 Asian owned businesses had sales of $5.1billion, and employed 42,955 people•7,109 Latino owned businesses had sales of $1.3billion and employed 11,348 people•2009 purchasing power of Ohio’s Latino’s totaled$6.6 billion (increasing 334% since 1990)•Asian buying power totaled $6.9 billion (increaseof 270% since 1990)
  • “To immigrate is anentrepreneurial act” --Ed Roberts, Founder MIT Entrepreneurship Center
  • In 2012, with the Rust Belt & U.S. economy stuck in first gear, it’s time weremember……..how to drive the economy …..FAST
  • we welcome the job-creators
  • When it comes to jobgrowth, STARTUPcompanies aren’teverything……..they’re the ONLYTHING!
  • STARTUPS:New employment paradigm• ALL net job creation in America over last 25 years comes from STARTUPS --- creating 40 million new jobs• New Firms add an average of 3 million jobs in first year• Older companies lost 1 million jobs annually • --- Kauffman Foundation
  • So WHO are behind the startups in America?
  • USA: Immigrants Driving the New Economy & Urban Revitalization* Immigrants twice as likely as native-born to start a business; * Immigrants founded more than 50% of the high-tech companies in Silicon Valley; * Immigrants are more likely to earn an advanced degree, invent something, and be awarded a U.S. patent;
  • The venture capitalists know a deal when they see one * 25 % O F A L L P U B L I C , V E N T U R E - BACKED FIRMS IN U.S. FOUNDED BY IMMIGRANTS * A D D H I G H T E C H L A B E L , P E R C E N TA G E INCREASES TO 40% * MARKET CAP OF $500 BILLION --- PUBLIC, VENTURE BACKED I M M I G R A N T C O M PA N I E S
  • Immigrants Are Driving U.S. Innovation* Immigrants filing patents at twice rate of American- born.* Immigrant patent filings: 72% Qualcomm, 65% Merck, 64% GE, 60% Cisco
  • Intl Students Who Stay = Jobs for U.S.For every 100 international students whostay after earning U.S. advanced degreesin science, technology, engineering ormath a CREATE 262 JOBS IN AMERICA 2011 Study by American Enterprise Institute & Partnership for New American Economy:
  • And not just PhDinternational students ----- all hard- working immigrants with a dream. It’s all connected.
  • How About UndocumentedWorkers & Lower Skilled Jobs? * Undocumented Workers Negatively Impact U.S. Worker Wages by 0.15 % ---less than 2/10 of of 1% U.S. Federal Reserve Bank, Atlanta * E a c h L o we r- S k i l l e d , N o n - A g Wo r k e r i n S h o r t a g e O c c u p a t i o n c re a t e s 4 . 6 American Jobs. Partnership New American Economy
  • Immigrants largelycompliment, notdisplace, American-bornworkforce.Immigrant workers usuallywork in high-skilled or lowerskilled jobs, where U.S. has ashortage of workers.Today, there are about 3million unfilled jobs inAmerica
  • $1.5 trillion added to GDP in next 10 years….If we legalize the 11 millionundocumented persons in U.S. Study at UCLA, 2010
  • Immigrants Can Drive Exports Research in Sweden demonstrates that a 10 percent increase in immigrant population was linked to a 6 percent increase in bilateral trade with the immigrants‟ home country.
  • Immigrants have created millions of jobs for Americans, and will create millions more….if we let them --- in advanced manufacturing, clean energy, biotech, advanced materials, exports….
  • No Thank You!
  • This is what NYC Mayor Bloomberg calls:“National Suicide.”
  • A New Local/National Movement: Welcoming Immigrants to Spur Economic GrowthChicago Mayor‟sOffice for NewAmericansGlobal Philly
  • Conversation on Immigration & Immigrants BROKEN
  • “The richest regions arethose with the highestproportion of immigrants.” President’s Commission on Immigration, 1953
  • Want to Win? Build the mostpowerful teams on the planet (just like NBA)
  • Talent is theNew Oil.Drill, Baby, Drill!
  • “World Is Flat” Guy, Tom Friedman “Pour into the America the most diverse, smart and energetic immigrants from every corner of the world and the stir and repeat, stir and repeat, stir and repeat.”
  • It’s important that weunderstand WHY so manyAmericans fear and loathe the new immigrants
  • America’s Demographics Are A-Changin’* Last decade, 85% of population increase from racial & ethnic minorities* 1 out of 7 new marriages are interracial
  • * Young whites (under 18) are the minority in 10 states, including Arizona* By 2021, the majority of children 4 and under will be minority* By 2042, the majority of all Americans will be minority
  • it’s all connected
  • What Does the New Economy Crave? HYPER- CONNECTIVITY
  • Silicon Valley Economy Network
  • Cleveland Economy Network
  • “Iam concerned by the majority’s attempt to manufacture tension between African- Americans and immigrant communities. It seems as though they would likeMarch 1, 2011, Rep. for our communities toEmanuel Cleaver (D- think about immigrationMO), Congressional in terms of „us versusBlack Caucus them,‟ and I reject that notion.”
  • John SibleyButler, Director ofEntrepreneurship, University of Texas, Austin
  • Putting Out the Welcome Mat -Building the “Intercultural City”-Abandoning practice of segregated diversity Our Future Is in the “Mix”
  • After decades ofout-migration,Philly showspopulationincrease for firsttime in 60 years --- in large partdue to influx ofimmigrantsbetween 2000 Philly enjoys an ecosystem that welcomes & connectsand 2010 immigrants, revitalizing neighborhoods
  • Nearly 2/3 of America is an immigrant, achild or grandchild of an immigrant, or married to an immigrant
  • some came to these shoresvoluntarily……..some did not
  • It’s in our DNAwe are strivers and survivors
  • We Are All Immigrants
  • Can Immigrants Help Savethe Rust Belt & U.S. Economy?
  • 7 Steps to“thinking like an immigrant”1.) Explore the world.Become a “Marco Polo.” (getout of your comfort zone)
  • 7 Steps to “thinking like an immigrant2.) Education. Take more classes!Regardless of your age or stage inlife, never forget that your “innerimmigrant” craves life-long education andreveres education as an asset than cannever be taken away from you.
  • 7 Steps to “thinking like an immigrant3.) Honor Parents‟ Sacrifice. “Honorthy father and thy mother.” Honor theirsacrifice with every step you take towardyour dream. Leverage this motivation ---fulfill your moral duty to achieve success.
  • 7 Steps to “thinking like an immigrant4.) Collaborate & Team-Up. Find thebest partners. You can’t do it alone. Findthe very best partner (often this will be animmigrant) and team-up. Look to groupslikeHBA, TiE, HYSTA, NSHMBA, Techwadi.
  • 7 Steps to “thinking like an immigrant5.) Take Risk. Make some big bets inyour business and professional career.Immigrant business success has a lot todo with high risk tolerance.
  • 7 Steps to “thinking like an immigrant6.) Embrace Desperation. Act likeyou have nothing to fall back on, andwork like your life depends on it.Convince yourself that your savingsaccount is empty, and that your dailywork offers the only hope of survival. Eatwhat you kill!
  • 7 Steps to“thinking like an immigrant7.) Dream.And dream BIG!
  • WantSuccess?THINK LIKE For More Info:AN  www.ImmigrantInc.comIMMIGRANT!