Can Actuaries Be Successful     Entrepreneurs?       Springfield Actuaries’ Club           2012 Fall Meeting            St...
Presentation Outline• Overview of Entrepreneurship• My Experiences as an Entrepreneur• So You Want to Be an Entrepreneur  ...
Overview of Entrepreneurship• Definitions of an Entrepreneur  – Howard Stevenson (Harvard Business    School)  – Amy Palme...
Overview of Entrepreneurship• Composite Sketch of Entrepreneurs (from  2009 Kauffman Foundation Study)  – Middle-aged (Ave...
Actuaries -> Entrepreneurs• John Dewan (Stats, Inc)• Michael Shackelford (Wizard of Odds)• Amy Treciokas (Yoga Now Chicago...
My Experience• Brief Bio  – College Degree in Applied Math/Computer    Science (1987)  – Property/Casualty Actuary (1987-2...
My Experience• Why Did I Become an Actuary?• Why Did I Leave the Actuarial Profession?• Why Did I Become an Entrepreneur? ...
My Experience• Transferable Skills?  – Analytical/problem-solving ability  – Analyzing problem from different perspectives...
My Experience• Skills I needed to add?  – Sales  – Marketing  – Networking  – Public speaking  – Ability to “let things go...
My Experience• How did I develop the skills I was lacking?  – Taking classes, seminars, webinars  – Reading voraciously  –...
My Experience• Biggest challenges I’ve faced?  – Capital  – Organization  – Finding/qualifying prospects  – Sales  – Sayin...
My Experience• Successes I’ve had  – Winning fantasy sports industry contests  – Contributor to Forbes.com  – Fantasy base...
My Experience• Best parts of being an entrepreneur?  – Ability to work on something you truly love  – Greater potential re...
My Experience• Downside of being an entrepreneur?  – Unpredictable hours  – Uncertain revenue stream  – Difficult clients/...
My Experience• What would I do differently?  – Quantify everything (esp. decision criteria)  – Have a better business plan...
My Experience• Dealing with disappointment/failure  – Remind yourself why you’re doing this  – Keep the big picture in min...
My Experience• My biggest influences/motivators  – A book  – A dream  – Fear               www.SherpaSocialMedia.com   17
Want to be an Entrepreneur?• What skills does it take?  –   Belief in yourself  –   Good time management skills  –   Abili...
Want to Be an Entrepreneur?• Which skills are most important?  – Belief in yourself  – Ability to quantify decision criter...
Want to Be an Entrepreneur?• Steps in starting a business  – Have an idea  – Get any necessary buy-in/support/advice  – Do...
Want to Be an Entrepreneur?• Importance of networking  – Make mutually beneficial connections  – Find referral partners  –...
Want to Be an Entrepreneur?• Resources for skill-building  – Industry conferences/meetings  – Classes/seminars/lectures/we...
Contact Info• Scott Swanay – President & Chief Sherpa,  Sherpa Social Media• Email: scott@SherpaSocialMedia.com• Phone: (6...
More Contact Info• Scott Swanay – President & Chief Sherpa,  Fantasy Baseball Sherpa• Email:  scott@FantasyBaseballSherpa....
Even More Contact Info• Scott Swanay – President & Chief Sherpa,  Fantasy Football Sherpa• Email:  scott@FantasyFootballSh...
Upcoming SlideShare
Loading in...5
×

Springfield boston-hartford actuaries' club presentation - can actuaries be successful entrepreneurs (110112)

336

Published on

The slides for a November 2012 presentationcalled "Can Actuaries Be Successful Entrepreneurs?" I did for the actuarial clubs of Springfield-Boston-Hartford in Sturbridge, Massachusets.

0 Comments
0 Likes
Statistics
Notes
  • Be the first to comment

  • Be the first to like this

No Downloads
Views
Total Views
336
On Slideshare
0
From Embeds
0
Number of Embeds
0
Actions
Shares
0
Downloads
3
Comments
0
Likes
0
Embeds 0
No embeds

No notes for slide

Springfield boston-hartford actuaries' club presentation - can actuaries be successful entrepreneurs (110112)

  1. 1. Can Actuaries Be Successful Entrepreneurs? Springfield Actuaries’ Club 2012 Fall Meeting Sturbridge, MA Thursday, November 15, 2012 Scott Swanay – Sherpa Social Media www.SherpaSocialMedia.com 1
  2. 2. Presentation Outline• Overview of Entrepreneurship• My Experiences as an Entrepreneur• So You Want to Be an Entrepreneur www.SherpaSocialMedia.com 2
  3. 3. Overview of Entrepreneurship• Definitions of an Entrepreneur – Howard Stevenson (Harvard Business School) – Amy Palmer (PowerwomenTV) – Nick Nanton (The Celebrity Lawyer) www.SherpaSocialMedia.com 3
  4. 4. Overview of Entrepreneurship• Composite Sketch of Entrepreneurs (from 2009 Kauffman Foundation Study) – Middle-aged (Average & median age = 40) – Well-educated (95% w/ Bachelors degree) – Did better in high school than in college – Middle-class or upper-lower-class background – Married (~70%) – Have children (~60%) www.SherpaSocialMedia.com 4
  5. 5. Actuaries -> Entrepreneurs• John Dewan (Stats, Inc)• Michael Shackelford (Wizard of Odds)• Amy Treciokas (Yoga Now Chicago)• Cindy Brakey (Brakey Energy)• Claude Penland (Ezra Penland Actuarial Recruiting)• Gerry Fryer (Migraine Independence Coach) www.SherpaSocialMedia.com 5
  6. 6. My Experience• Brief Bio – College Degree in Applied Math/Computer Science (1987) – Property/Casualty Actuary (1987-2004) – Baseball Stat Research (2004-2006) – Fantasy Baseball Sherpa (2006) – Fantasy Football Sherpa (2007) – Sherpa Social Media (2010) www.SherpaSocialMedia.com 6
  7. 7. My Experience• Why Did I Become an Actuary?• Why Did I Leave the Actuarial Profession?• Why Did I Become an Entrepreneur? www.SherpaSocialMedia.com 7
  8. 8. My Experience• Transferable Skills? – Analytical/problem-solving ability – Analyzing problem from different perspectives – Multi-tasking – Working in multi-disciplinary teams – Ability to focus for extended periods of time – Simplifying complex concepts for audiences – Understanding long-range view/impacts www.SherpaSocialMedia.com 8
  9. 9. My Experience• Skills I needed to add? – Sales – Marketing – Networking – Public speaking – Ability to “let things go” – Resourcefulness www.SherpaSocialMedia.com 9
  10. 10. My Experience• How did I develop the skills I was lacking? – Taking classes, seminars, webinars – Reading voraciously – Volunteer teaching – Serving as a president of a running club – Networking – Accepting public speaking opportunities www.SherpaSocialMedia.com 10
  11. 11. My Experience• Biggest challenges I’ve faced? – Capital – Organization – Finding/qualifying prospects – Sales – Saying no to/cutting the cord with clients – Admitting the need to change course – Accepting feedback from trusted advisors www.SherpaSocialMedia.com 11
  12. 12. My Experience• Successes I’ve had – Winning fantasy sports industry contests – Contributor to Forbes.com – Fantasy baseball blogger for USAToday.com – Fantasy football blogger for Huffington Post – Participant in Tout Wars – Started Blog Talk Radio fantasy football show – Interviewed on TV/radio, in print, and on-line – Speaking to undertakers about social media www.SherpaSocialMedia.com 12
  13. 13. My Experience• Best parts of being an entrepreneur? – Ability to work on something you truly love – Greater potential rewards – Set your own schedule/less bureaucracy – Always learning something new – Choose the clients you want to work for – Choose the people you want to work with – Develop client relationships www.SherpaSocialMedia.com 13
  14. 14. My Experience• Downside of being an entrepreneur? – Unpredictable hours – Uncertain revenue stream – Difficult clients/clients who don’t pay – Difficult work partners – Buck stops with you – Non-stop marketing – Limited resources (time, money, people) www.SherpaSocialMedia.com 14
  15. 15. My Experience• What would I do differently? – Quantify everything (esp. decision criteria) – Have a better business plan in place – Say no more often to potential clients – Collaborate more – Be less stubborn/admit defeat sooner – Find a mentor (or three) – Create better support structure www.SherpaSocialMedia.com 15
  16. 16. My Experience• Dealing with disappointment/failure – Remind yourself why you’re doing this – Keep the big picture in mind – Have a good support structure in place – Maintain contact with people outside your business – Have hobbies/other interests – View all experiences as learning opportunities www.SherpaSocialMedia.com 16
  17. 17. My Experience• My biggest influences/motivators – A book – A dream – Fear www.SherpaSocialMedia.com 17
  18. 18. Want to be an Entrepreneur?• What skills does it take? – Belief in yourself – Good time management skills – Ability to quantify decision criteria – Ability to market – Ability to sell – Ability to listen without jumping to conclusions – Perseverance – Optimism – Resilience – Resourcefulness www.SherpaSocialMedia.com 18
  19. 19. Want to Be an Entrepreneur?• Which skills are most important? – Belief in yourself – Ability to quantify decision criteria – Ability to listen without jumping to conclusions – Resilience www.SherpaSocialMedia.com 19
  20. 20. Want to Be an Entrepreneur?• Steps in starting a business – Have an idea – Get any necessary buy-in/support/advice – Do your market research/test your idea – Develop a business plan – Set up the appropriate business structure – Get to work: you’re in business! www.SherpaSocialMedia.com 20
  21. 21. Want to Be an Entrepreneur?• Importance of networking – Make mutually beneficial connections – Find referral partners – Find business partners – Learn what’s going on in your field and others – Hear different points of view – Test your ideas (credibility as expert authority) – Developing part of your support structure www.SherpaSocialMedia.com 21
  22. 22. Want to Be an Entrepreneur?• Resources for skill-building – Industry conferences/meetings – Classes/seminars/lectures/webinars – Books/magazines/online articles – Networking opportunities – Volunteering opportunities – Libraries www.SherpaSocialMedia.com 22
  23. 23. Contact Info• Scott Swanay – President & Chief Sherpa, Sherpa Social Media• Email: scott@SherpaSocialMedia.com• Phone: (646) 483-3393• www.SherpaSocialMedia.com• Twitter: @SherpaSocialMed• Facebook: Sherpa Social Media www.SherpaSocialMedia.com 23
  24. 24. More Contact Info• Scott Swanay – President & Chief Sherpa, Fantasy Baseball Sherpa• Email: scott@FantasyBaseballSherpa.com• Phone: (646) 483-3393• www.FantasyBaseballSherpa.com• Twitter: @fantasy_sherpa• Facebook: Fantasy Baseball Sherpa www.SherpaSocialMedia.com 24
  25. 25. Even More Contact Info• Scott Swanay – President & Chief Sherpa, Fantasy Football Sherpa• Email: scott@FantasyFootballSherpa.com• Phone: (646) 483-3393• www.FantasyFootballSherpa.com• Twitter: @fantasy_sherpa• Facebook: Fantasy Football Sherpa www.SherpaSocialMedia.com 25
  1. A particular slide catching your eye?

    Clipping is a handy way to collect important slides you want to go back to later.

×