Starting Your Own Business   Turning Avocations Into Vocations   10 21 09
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Starting Your Own Business Turning Avocations Into Vocations 10 21 09



45 minute presentation to members of The Joseph Project (people between jobs) discussing opportunities for starting their own businesses.

45 minute presentation to members of The Joseph Project (people between jobs) discussing opportunities for starting their own businesses.



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    Starting Your Own Business   Turning Avocations Into Vocations   10 21 09 Starting Your Own Business Turning Avocations Into Vocations 10 21 09 Presentation Transcript

    • Starting Your Own Business NOW is the Best Time to Turn Your Avocation into Your Vocation Jim Shankle Managing Director 71 Ventures LLC
    • Treasure Troves of Practical Advice
    • It’s All About Attitude
    • What Do These Companies Have in Common?
      • Eli Lilly, IBM, Merck, Hershey's, Gillette, Alcoa, J&J, Chevron, GE, AT&T, Abbott, Lilly, Coors, Johnson Controls, Bristol-Myers and PPG
      • Texas Instruments, HP, 20th Century Fox and United Technologies
      • Microsoft, Genentech and Apple
      • Amgen, Sun, E*Trade, Autodesk, Adobe, BMC, EA and Symantec
    • What Do These Companies Have in Common?
      • All Started During Bad Economic Times
    • 22 Years of Depression ( 1873 to 1895)
        • IBM, Eli Lilly, Merck, Hershey’s,
        • Gillette, Alcoa,
        • J&J, Chevron, GE, AT&T,
        • Abbott, Lilly, Coors,
        • Johnson Controls, Bristol-Myers, PPG
    • The Great Depression ( 1929-1939)
        • Texas Instruments
        • 20th Century Fox
        • United Technologies
        • Allstate Insurance
        • HP
          • The seeds for Silicon Valley were planted
    • Oil Shock & Market Crash ( 1973-1976 )
      • The Biotech & PC Revolutions Emerged
        • Microsoft
        • Genentech
        • Apple
        • Compaq Computer
          • Fastest Company to Achieve $1 BB in Sales
    • The Crisis of the Early 80's ( 1980-1982 )
      • Inflation Hit All-Time Highs
        • Amgen
        • Sun
        • E*Trade
        • Autodesk
        • Adobe
        • Symantec
    • Conclusion?
      • Good Times
        • No Pressure to Change
        • “We’ve always done it that way”
      • Tough Times
        • Buyers and Sellers Must Change
        • New & Different Approaches are Welcomed
        • Innovation Thrives – try anything
    • Why Innovation Thrives During Difficult Times
      • Boom Times
        • Sectors Get Overfunded With Debt
        • Weaker Competitors Destroy Economics for Everyone
      • Tough Times
        • Banks Tighten Lending
          • Kills Weak “me too” Players
        • Rewards an Equity Culture (“patient money”)
      • Pressured Focus
        • Toughens All Decision-Making & Spending
          • Efficient Use of Capital
        • Focus Must be on Fulfilling Customer Needs
    • Conclusion
      • Now Could Be the Best Time to
      • “ Turn Your Avocation
      • into Your Vocation”
    • What is the Secret to Entrepreneurial Success?
      • ?
    • The Secret to Entrepreneurial Success
      • Passion
      • Vision
        • “ The Urge to Make Life Better Has Been a Consistent Theme of Human History”
      • Persistence
        • “ If You Think You’ve Hit Bottom, Scratch Around in the Soil.”
        • “ Sometimes Life’s Greatest Tragedies Show Us What We’re Really Made of, Testing Our Will And Resolve”
          • Do You Have What It Takes to Keep Digging?
    • The Secret to Entrepreneurial Success
      • Do What You Love
      • “ Childhood Dreams Are the Incubators for Adult Success”
      • If You’re Not Passionate About What You Do, Do Something Else
        • Ignition
          • Awareness of an Opportunity That Fits Your Passions
        • Accelerator
          • Motivation to Succeed No Matter What
    • Every Successful Entrepreneur Must Have
      • Burning Desire to Do Something that’s Different
        • Rugged Individualist
      • A Dreamer
        • What You’re Creating Doesn’t Exist
      • Strong Sense of Self & Inner Fortitude
        • Betting On Yourself
        • High Risk Tolerance
      • Curiosity
      • Ability to Assemble the Right Team & Collaborate
        • It’s All About People
        • Ross Perot, Sam Walton, J.B. Hunt, Robert Dedman
    • If You’ve Been Fired
      • Not the End of the Road
        • Have the Right Attitude
          • Everyone Fails But Few Are Failures
      • Great Catalyst
        • New Beginning
        • Opportunity to Look Inside Yourself
        • Gets Rid of Baggage
        • Forces New Directions
        • Nothing to Lose
      • Ideas are More Important than Capital
    • The Best Book Ever Written for Entrepreneurs
    • Everyone Has a “Big Dream”
      • “ What You Are Missing You Already Have”
          • Your Dream is in You Now
    • You Were Born For This
      • The “Dream Giver” Has a Plan For You
        • In Everyone’s Heart is a Big Dream
      • No One Can Do What You Can Do
        • You Can Be a Somebody
        • You Are Destined for Great Things
      • The Journey Itself Prepares You to Succeed
        • Take the First Small Step
      • Until You Pursue Your Dream
        • You Will Never Love Your Life the Way You Could
      • Millions Never Take the First Step but You Can
    • Why We Don’t Embrace Our Big Dreams
      • You Have a Driving Passion to Do Something Special…but
        • You Get Caught Up in the Demands of Life
          • Time & Energy is Spent Unproductively
          • Your Purpose Fades into Busyness
        • Deadly Misconceptions
          • “ I Don’t Have a Dream”
          • “ I Have a Dream, but it’s Not that Important”
          • “ I Have a Dream, but it’s Up to Others to Make it Happen”
          • “ I Had a Dream, but it’s Too Late”
    • Finding Your Big Dream
      • What Did You Want to Do When Growing Up?
        • What Have You Always Been Good At?
        • What Needs Do You Care About Most?
        • Who Do You Admire Most?
        • What Makes You Feel Most Fulfilled?
        • What Do You Love To Do Most?
        • What Have You Felt Called To Do?
      • Interview People Who Are Living Their Dream
      • If Someone Gave You All the Money You Wanted, What Would You Do With It?
    • “ The Wall of Fear” - Get Out of Your Comfort Zone
      • Cozy is a Trap
      • Impediments to Entrepreneurship are Fear & Negativity
        • “ If It Was Such a Good Idea, Someone Else Would Have Already Done It”
        • “ I Don’t Know How”
        • “ It’s Not That Good”
        • “ I’m Too Busy”
        • “ I Don’t Have the Money”
        • “ My Spouse Won’t Like It”
        • and on and on….
    • Who Are Your “Border Bullies”?
      • Lots of People Will Say “No” but Not “Yes”
        • Parents
        • Relatives
        • Friends
        • Boss
        • Spouse
        • Kids
    • Breaking Through
      • Push Through When the Going is Toughest
        • When You are Closest to Success, “Forces” Go After You
        • Every Action Moves You Away From Your Comfort Zone
        • Every Failure Moves You One Step Closer to Your Dream
      • Never, Ever Take Your Eyes Off Your Dream
    • The WasteLand
      • You Will Run Into Failure
        • The “Desert Experience” Happens to Everyone
        • It’s a Season of Preparation
        • You Are Training for Greatness
      • You Won’t Understand It
        • It Will Test You
          • Jer 29:11 – “For I know the plans I have for you…”
        • You Will Learn Trust
          • Phil 4:6 – “Be anxious for nothing…”
        • Endurance Will Mature You
          • Rm 5:3-5 – “…..we also rejoice in our afflictions…”
        • It Will Put You On a Better Path
          • Proverbs 3:5-6 – “Trust in the Lord…”
        • Years Later You Will Know Why & Be Glad
          • Rm 8:28 – “We know that all things work together …”
    • Your Dream Comes With a Price
      • The Bigger the Dream, the Longer the Preparation
      • The Wasteland Prepares You to Become the Person Who Can Succeed at Your Dream
      • The Outcome is Up to You
        • How Much Do You Want Your Dream to Come True?
        • How Much Do You Trust?
          • … even if You Don’t Understand
    • Innovation Comes From Outside An Industry
      • In Every Industry
        • There’s a Convention Waiting to Be Defied
        • There Is Always Room For a Better Way
      • To Find Opportunity - Listen For Frustration
    • Be Bold
      • Bigger Deals are Easier to Get Done
      • The Market Responds to Boldness
      • Inexperience Enables You to Move
    • Ask People to Help
      • Your Best Test Market is With Experienced People You Respect
      • Find a Mentor Who is a Tor mentor
        • Good Mentors Will Cheer You On – and Kick You in the Rear
    • Is Growing Older a Time of Diminishing Opportunities?
      • It Starts With Attitude
      • You’ve Been There, Done That
        • You Have Overcome Barriers Before
      • Your Toolbox Is Full
        • No Experience is Wasted
        • No Contact is Irrelevant
      • You’re Free to Invent
        • Your Gut Knows More than You Realize
        • Push Ahead!
        • Remember - Col. Sanders Was 65 When He Started KFC!!
    • Starting Your Own Business
    • Start Your Own Business?
      • “Fan into flame the gift of God that is in you…
      • For God has not given us a spirit of fearfulness, but one of power, love, and sound judgment.”
      • 2 Timothy 1:6-7
    • Start Your Own Business?
      • Never, Ever
      • Stop Pursuing
      • Your Dream
    • Start Your Own Business?
      • Questions?