Tag: entrepreneurs

Theordore Roosevelt The Man In The Arena quote

Motivation Monday Overcoming Obstacles in Entrepreneurship

There is an old saying: Champions don’t  become champions in the ring- they are merely recognized there. That’s true, if you want to see where someone develops into a champion, look at their daily routine. Former heavyweight champ Joe Frazier stated: You can map out a fight plan or a life plan. But when the … read more

Overcoming Obstacles in Entrepreneurship: A Lesson From Theodore Roosevelt

There is an old saying: Champions don’t  become champions in the ring- they are merely recognized there. That’s true, if you want to see where someone develops into a champion, look at their daily routine. Former heavyweight champ Joe Frazier stated:

You can map out a fight plan or a life plan. But when the action starts, you’re down to your reflexes. That’s where your road work shows. If you cheated on that in the dark of the morning, you’re getting found out now under the bright lights.

Boxing is a good analogy for developing bossbabes because it’s all about daily preparation. Even if a person has natural talent, they have to prepare and train to become successful.

One of this country’s greatest leaders was a fan of boxing: President Theodore Roosevelt. In fact, one of his most famous quotes uses  a boxing analogy

Theodore Roosevelt

THE MAN IN THE ARENA
Excerpt from the speech “Citizenship In A Republic”
delivered at the Sorbonne, in Paris, France on 23 April, 1910
download PDF of complete speech

It is not the critic who counts; not the man who points out how the strong man stumbles, or where the doer of deeds could have done them better. The credit belongs to the man who is actually in the arena, whose face is marred by dust and sweat and blood; who strives valiantly; who errs, who comes short again and again, because there is no effort without error and shortcoming; but who does actually strive to do the deeds; who knows great enthusiasms, the great devotions; who spends himself in a worthy cause; who at the best knows in the end the triumph of high achievement, and who at the worst, if he fails, at least fails while daring greatly, so that his place shall never be with those cold and timid souls who neither know victory nor defeat.

*TR (Teddy Roosevelt’s nickname) was known for regular boxing and judo sessions, challenging horseback rides, and long, strenuous hikes. A French ambassador who visited Roosevelt used to tell about the time that he accompanied the president on a walk through the woods. When the two men came to the banks of a stream that was too deep to cross by foot. TR stripped off his clothes and expected the dignitary to do the same so taht they could swim to the other side. Nothing was an obstacle to Roosevelt.

Of all the leaders this nation has ever had, Roosevelt was one of the toughest-both physically and mentally. But he didn’t start that way. America’s cowboy president was born in Manhattan to a prominent wealthy family. As a child he was puny and very sickly. He had debilitating asthma, possessed very poor eyesight, and was painfully thin. His parents weren’t sure he would survive. When he was twelve, young Roosevelt’s father told him, “You have the mind but you have not the body, and without the help of the body, the mind cannot go as far as it should. You must MAKE the body.” and make it , he most certainly did. TR began training every single day physically, building his body as well as his mind, and he did that for the rest of his life.

Roosevelt didn’t become a great leader overnight either. His road to the presidency was one of slow, continual growth. He improved himself and in time, he became a strong leader. Roosevelt’s list of accomplishments is remarkable. Under his leadership, the United States emerged as a world power. He helped the country develop a first-class navy. He was that the Panama Canal was built. He negotiated peace between Russia and China, winning a Nobel Peace Prize in the process.  On January 6, 1919 he died in his sleep. Then vice president Marshall said,

“Death had to take him sleeping, for if Roosevelt had been awake, there would have been a fight”

When they removed him from his bed, they found a book under his pillow. Up to the very last, TR was still striving to learn and improve himself.

*Source: Leadership 101 by John C. Maxwell

Slow and Steady Wins the Race Quote

What are the takeaways we can learn from Roosevelt that may apply to our lives as Entrepreneurs?

1. Be FIERCE : obstacles will come, it’s how you approach those obstacles. Are you going to say , “It’s too hard, we can’t cross this stream, it’s too deep” and turn back? Or will you strip naked and lead the way? Nothing in life is easy. Entrepreneurship isn’t for sissies. You have to get in there, roll up your sleeves and be FIERCE. Are you stronger than the obstacles in your path?

2. Even a great leader like TR started off small. He wasn’t expected to survive from his own parents! If that’s not a kick in the teeth, then I don’t know what is! Of all people in the world, you want those who love you and you share your life with to believe in you and your dreams, it’s hard when you don’t get the support you’d like. But what did TR do? He set out to prove them wrong. He was CONSISTENT, he worked towards his goal of strengthening his body every.single.day. Consistency wins the prize in owning and operating a small business. Many times it can be isolating, people in our family would rather share a celebrity’s status or meme on social media. Your loved ones may shop at a big box store rather than supporting your small shop.. you can’t control other people, you can only change how you react to them. Seek out OTHER support from friends, or like-minded individuals and other small business owners. The community at Gypsy Spoonful is a great source of strentgh, knowledge and inspiration for me everyday. I am so thankful to have people that cheer me on and totally GET what I am trying to do with my life. Everyone starts off small, it’s up to YOU to seek out ways to grow and learn new things to embolden your entrepreneurial spirit.

” slow, continual growth.”

3. The mind and body combination is important, It was once said by Henry Ford, “Whether you believe you can or can not, you’re right” . Your mental attitude determines your outcome most of all. TR blazed a trail where no one dared to go before. He traveled all over the world pursuing adventures. Each trip, each adventure prepared him for the next one. He built knowledge upon his experiences. We all fail and fall short, just like the man in the arena~ but do we get up again after we get knocked down? or do we stay down? A product might not sell, a promotion may flop… KEEP LEARNING, learn from your mistakes and build on that. Go forward with the ideas of what went wrong and how to overcome that in your future small shop “adventures”.

If you are looking for a creative community where you can find limitless support from like minded creative folks, and you feel you’ve got a great product to offer the world, Gypsy Spoonful is seeking new shop owners, please go to this page and read what we believe about handmade and how we do things. If you vibe with what we’re doing, please fill out an application. We will be screening and vetting applicants for 2019.  Go HERE

 

 

Entrepreneurship Ain’t For Sissies

I’ve often said it takes a special breed of person to be an entrepreneur. Being your own boss, starting your own business and growing that venture will test you to every limit you have. Personally, it will either make or break you. In the boutique and handmade world, we see trends come and go, we … read more

I’ve often said it takes a special breed of person to be an entrepreneur. Being your own boss, starting your own business and growing that venture will test you to every limit you have. Personally, it will either make or break you. In the boutique and handmade world, we see trends come and go, we see hot products everyone wants… supply and demand ebbs and flows, but what makes a small or micro-business be able to stand the test of time?

I’ve personally been the owner of my own small business ( Goosie Girl) for almost 14 years now. The Wall Street Journal reported in September 2013 that 56% of Americans thought that they were capable of launching their own company while 9% actually took the plunge and took steps to start a business. Against this backdrop of optimism and confidence stands another set of sobering statistics that outline the causes of small business mortality. Small business failure rates vary, but from 50-70% fail within the first 18 months.

To gain insight to the contributing factors to business mortality, researchers at the University of Tennessee studied failures of thousands of small businesses and attempted to identify the primary culprit leading to demise. They grouped their findings into broad categories but “drilled down” within each to identify root causes of failure.

The leading cause of business failure was determined to be “Incompetence”. Fully 46% of failures could be explained by this broad-brush term. The specific behaviors that underlie this headline, however, are fairly specific and revealing. These include:

  • Taking an emotional approach to pricing
  • Non-payment of taxes
  • No knowledge of industry pricing conventions
  • No knowledge of financing requirements and conventions
  • No experience in record-keeping
  • Living beyond the means of the business
  • Lack of planning

Next in line as a primary contributor to business failure was “Unbalanced experience or lack of managerial experience”. This condition explained 30% of small business failures and was manifested primarily by poor credit-granting decisions.

Eleven percent of failures were attributed to “Lack of experience”. Specific shortcomings that proved lethal included the failure to maintain adequate inventory, no knowledge of suppliers and wasted advertising budgets.

*Source http://isbdc.org/small-business-failure-rates-causes/

The point is that few entrepreneurs, especially first time entrepreneurs, are ready for what comes at them from a people perspective when building a business. In order to succeed, they need to be able to step outside of their comfort zones and reinvent themselves – finding the courage to do things they never thought they’d have to do, or that they’d be capable of doing. I have often said, in business you must constantly reinvent yourself, or find new products, or find new ways of doing the important things which keep a small business afloat such as promotion, networking and marketing.

So how can entrepreneurs get out of this conundrum and learn to reinvent themselves while at the same time reinventing their business?

  • The first step is two-fold: recognizing that reinventing yourself is just as important a task as reinventing your business. Then, once you’ve convinced yourself of the imperative, doing an inventory of your challenges. No one likes to admit weaknesses, but just as you look for the strengths, weaknesses, opportunities and threats (SWOT) in a business deal, use that same rubric on yourself. Where are your blind spots? What do you struggle with? Be honest.
  • The second step is to assess your own personal motivation. You’ve done your personal  analysis and find that you struggle with sales, or networking or at delivering bad news. The next step is making sure that this is something you actually care about improving. What’s in it for you to get better at this? Will it help your company grow and thrive? Probably. Will it help you become a more effective businessperson? Will it help you achieve your goals and ambitions? Definitely. Embracing your internal motivation is an essential step for making anything happen, especially personal transformation.

  • Finally, the last step is to beta test your newly reinvented self. Try out the new behavior. Look at how others do it, and ask friends for help. Maybe even enlist the help of a coach. If beta test number one doesn’t work, try again. Tinker with the behavior, or try it in a different setting. Remind yourself of your motivation to go out there and do it, and just like you’d beta test and improve a product, do the same with this new version of yourself.
  • *Source: Linked In Article by Andy Molinsky

You miss 100% of the shots you don’t take

there are many reasons to tweak your business model–or to try out a whole new one–that make perfect sense. If you do it thoughtfully, it could be the best business decision you ever make. ~ Entrepreneur Magazine

If this information has urged you in the direction of reinvention of your small business,and tipped the scales for our readers who are makers looking for a new venue, such as Gypsy Spoonful here are the top three tips on HOW to do it sourced from Entrepreneur Magazine and some experienced business coaches such as Karyn Greenstreet, a Philadelphia-area small-business coach specializing in self-employment and business reinvention as well as Steve Strauss, a business speaker and author as well as a columnist for USA Today

  1. 1. Know When to Make a Change : Timing Is crucial. The first step is deciding if it’s the right time for a change. (Every.Single.Day. I receive applications from makers wanting to abandon the venue they are currently selling on and joining up with Gypsy Spoonful. A popular marketplace has definitely changed, and many are jumping ship. If it’s working for you, I’d advise to keep selling there, but NEVER keep all your eggs in one basket. A variety of marketplaces are GOOD to reach different customer bases. By all means, if it’s not working for you anymore due to policy change, lack of support, mass produced or imported items being sold on the same venue and undercutting your pricing… then it’s time to move on. We are entering a new season for handmade~ and the time is ripe for a marketplace solely dedicated to handmade goods.)
  2. Decide What You Want
    After the decision is made to change, you need to decide what type of change is necessary to meet your goals. “Once you decide there’s something you can do better, you need to decide whether to make a little tweak or a major overhaul,” Strauss says. “You have to decide what’s best for your brand.  (Learning a new craft and/or adding a new item to your product line up can bring new life to your handmade microbusiness. Once you decide what it is you truly want out of your business, It is so true to say “Entrepreneurs have more ideas than they have time for. The absolute first stage is deciding to cut off all those other ideas and focus on one. Making a decision to make a decision is the hardest thing for entrepreneurs to do.” Once you have clarity on your goals and values, making a decision should be easy. (We often ask potential new members to read what Gypsy Spoonful believes about handmade, and small business, and doing business in America before committing to applying as a maker. You can see this our ideals and values by clicking here.)
  3. The next step is something every business owner should be experienced at–making and following a business plan. “You need to act as if you’re starting from scratch,” Strauss says. “You need to think it through thoroughly, figure out who the competition is, how you are going to beat them and what the costs are. Strauss and Greenstreet suggest sharing your plans with other business owners or a mastermind group. “Entrepreneurs tend to rely on intuition a lot, but you need to make sure other people think your plan is a good idea,” Strauss says. (This is why Gypsy Spoonful has been built around the concept of “community”, we rely on our “mastermind group” to support, share and build each other up. Being an entrepreneur can be a lonely venture, if you are in community with other like-minded small business owners, it makes it more enjoyable, less stressful and you can learn from other’s successes and mistakes as well).

“Business owners sometimes need people to bounce things off of to keep them from going off in crazy directions,” – Pamela Wilson

During the transition, you’ll likely be running two shops at once as you phase out the old business model and ramp up the new one. “Sometimes reinvention means running two businesses simultaneously for almost a year,” Greenstreet warns. “It’s overwhelming, and business owners are often so excited about the new model, they want to let go of the old model. It’s like going through a long divorce before committing to a new relationship.” The solution is to create a detailed exit strategy. (Gypsy Spoonful doesn’t want to be the only venue you’re a part of, we just want to be the best and favorite one 😉  )

Entrepreneur’s article suggests to : “Be transparent through the whole process with vendors, customers, employees and, most important, your family. Give everyone notice that changes are coming, when they will happen and what it means for them.”

If it’s time to reinvent your business and switch venues, and hop aboard the NEW home for handmade, we encourage you to go through the application process: Get the process started here

 

 

 

Uber On The Move with Uber Freight. Solution for Small Business?

From the Desk of Goose, Owner/Founder of Gypsy Spoonful, and GoosieGirl See a need and fill it. I like how Uber thinks. This is the way I think. Gypsy Spoonful was created because there was a desperate need for a new home for handmade; the most popular reason for new products or businesses to be created … read more

From the Desk of Goose, Owner/Founder of Gypsy Spoonful, and GoosieGirl

See a need and fill it. I like how Uber thinks. This is the way I think. Gypsy Spoonful was created because there was a desperate need for a new home for handmade; the most popular reason for new products or businesses to be created is because there is a NEED in the consumer realm.

Recently Uber announced it was getting it’s piece of the pie in the billion dollar shipping industry in the United States. They are innovators at seeing needs and filling them with awesome services and products. Hats off to the Ube!

Yesteday, Uber soft launched Uber Freight, it’s newest app. Ever since Uber bought the self-driving-truck firm Otto: people have been talking. This is a service which aims to connect shippers and trucking companies in much the same way as the original Uber app connects riders and drivers.

How it will work: Drivers pick an available load through the app, sorted by payment, destination, or deadline. Within seconds, the app confirms the booking. According to the company’s announcement:

We take the guesswork out of finding and booking freight, which is often the most stressful part of a driver’s day. What used to take several hours and multiple phone calls can now be achieved with the touch of a button.

Uber promises to pay drivers within 7 days. Unlike the ridesharing app, Uber Freight won’t charge its drivers a commission, which has been a major point of contention with the company’s business model.

This is not Uber’s sole freight hauling project, as the company is also working with Otto on self-driving trucks. (How cool is THAT?!) Uber Freight is available for iOS and Android, but it won’t be available to everyone. Uber is vetting drivers before they join the platform, presumably to check they have the right insurance, license, and equipment.

Uber CEO Travis Kalanick has been clear for a while now that his company is interested in getting into trucking. It makes sense—in the trucking industry, brokers usually help someone who wants to ship goods find a truck to do the hauling. Uber has risen to global prominence using almost exactly this model, acting as the middleman between people looking for a ride and drivers working on contract.

This kinda reminds me of the A & E Television show, Shipping Wars (does it not?) I think it’s brilliant and would love to look into possibly making Uber Freight a viable shipping option for members of the Gypsy Spoonful community.

Anything we can do to make the user experience more friendly, we are all about that. This could broaden our maker base to upcycled/reclaimed furniture pieces and more! I think it’s an exciting thing in the business world. In addition , everything we, as a creative community and company can do to provide jobs for independent business people (truckers in this case) we’d love to do~ as it fits in with our “small” philosophy! Gypsy Spoonful = made in America if we can ship using independently contracted Uber Freight drivers, I’m all for it!