Struggling Entreprenuer

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In this bonus episode of The Struggling Entrepreneur, we bring you the audio narration of the blog post by Jason Cohen from Smart Bear Software, which is titled Sunk Costs: An invisible, pervasive peril (from the post dated 15 February 2010).

It really is amazing to see how the “human element” can get in the way of rational and logical behavior that is sometimes mandated in business. Ego, legacy, apprehensiveness, fear or laziness can cause projects to deliver “sunk costs.”

In this audio narration of the blogpost from Jason Cohen, we see some examples of how startups, as well as enterprises, are prone to make these irreversible mistakes.

But with the emotional stress that an entrepreneur faces every day, rational behavior in evaluating when to call it quits is sometimes the cause of such sunk costs.

Copyright (c) 2010, Matrix Solutions Corporation and www.smartbear.com. All Rights Reserved.

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In this episode of The Struggling Entrepreneur, we go beyond the hype and buzz of the terms “Social Media” and deliver a candid meaning of what is taking place by using SOCIAL COMMERCE–and what this means to the small business owner and Entrepreneur.

We get the description of this program that uses Social Media tools, networks and applications in order to deliver business results to the firm–and not just socializing with others.

Bazaarvoice is a firm with experienced entrepreneurs and business owners–as well as from enterprises–that has a mission of “helping all types of businesses capture, display, share, and analyze customer conversations online. A combination of technology and personalized services help brands build online communities that drive measureable business goals, therefore making it easy for you to let your customers share opinions, knowledge, and experiences.”

Thus, our examination of this business-based commerce.

This new area of business-oriented social media development for the areas of transactions and trade add to what Sales VP Michael Osborne of Bazaarvoice describes as part of the phenomenon of “Social Commerce.”

While it is highly encouraged for entrepreneurs to know about social media and its tools, networks and applications, the area of social commerce appears to be a necessity for doing business in the 21st Century.

In this audio episode, you will hear Michael Osborne address a meeting of the Social Media Club of Austin about the topic of Social Commerce–including the benefits to some its customers and how it can help the business.

For any questions about the presentation, you may reach Michael Osborne at

http://www.twitter.com/osborneosborne.

Copyright (c) 2010, Matrix Solutions Corporation. All Rights Reserved.

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In this episode of The Struggling Entrepreneur, we listen to Chris Benjamin, the Rogue CFO, talk about the caution and possible disadvantages of being the “First Mover” or “first entrance” in a new or existing market.

In most schools of thought and business seminars and training, the “First Mover Advantage” is usually heralded as a key differential competitive advantage. However, the elements of risk and cost need to be understood by the aspiring entrepreneur or recently-launched small business owner.

This content is repurposed from the iTunes(R) free podcast called “The Rogue CFO’s Expert Guide to Launch a Startup,” and it is episode number 8.

As you can see, we do bring the words of warning and caution in several areas where entrepreneurs may rush in too quickly before examining the benefits and exposures thoroughly. Chris Benjamin discusses his perspective why the first entrance into a market may actually be a disadvantage for the Entrepreneur or small business owner.

Copyright (c) 2009, Matrix Solutions Corporation and Chris Benjamin Consulting, LLC. All Rights Reserved.

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In this espisode of The Struggling Entrepreneur, we discuss and describe the status of what is being referred to as an “inbetween-preneur.” What is this type of entrepreneur? Let’s compare it to the other terms that describe the different types of entrepreneurs that have surfaced in the online world:

- You’ve heard of Intra-preneur? –> an entrepreneurial semi-independent or independent business unit within a private sector enterprise, for instance, that is funded by the Corporation, but it acts as if were a small business–speed to market and little bureaucacy define its nature;

- You’ve heard of the “necessity-preneur” ? –> one who is usually unemployed (e.g., by a layoff, etc.) and cannot buy a franchise, and thus has to resort to becoming a small business owner to survive;

-You’ve heard of the “solo-preneur” ? –> the individual that will go it alone as a small business owner, without joint venture partners or assistants, and will not outsource at the beginning because this person cannot afford to (i.e., usually undercaptizlized);

- You’ve heard about the “unintentional-preneur”? –> this is the individual that planned to remain with a day-job, but due to circumstances (e.g., downsizing or layoff, etc.) took the opportunity to pursue a dream intentionally due to unintentional situations;

- Youve heard of the ; you’ve heard about the “hobby-preneur” ? –> this is the individual that pursued a hobby that began bringing in revenue (which usually was not the main objective of this pasttime or passion). And then at one point, the “hobby” became a business and was so successful that the individual quit the day-job and pursued the small business full-time as an entrepreneur;

-You’ve heard of the “part-time entrepreneur” ? –> this is the person that began a small business (like a home-based business or internet business) on a shoestring budget and worked it part-time, while still keeping the day-job. The hope of this person is to one day be able to leave the day-job and become a full-time Entrepreneur;

Well, here is the “inbetween-preneur”–and individual that may or may not be retired who “dabbles” in the environment of small business ownership or entrepreneurship by desiring the freedom and excitement of the benefits of being an entrepreneur, but is more inclined to do so with projects or programs, rather than take a plunge into running a firm or small business. Thus, you may say that this individual tends to be a “project-preneur.”

Lindsey Allen happens to fall into this category. A retired high-tech experienced instructor and project manager with IBM, AMD, Tivoli and also a veteran of the US Air Force), Lindsey is now entering the world of training and instruction with the objective of making it into his very small business–perhaps.

And that “perhaps” is what straddles him inbetween the positions of retiree and entrepreneur–or what we call an “inbetween-preneur.”

In this audio episode, you will hear Lindsey describe what drives him, what motivates him, what his priorities are –and how he will decide whether to enter the fray of small business ownership or just keep doing fun projects (like a “project-preneur”) based on his passion for the focus he has at the time.

Currently, Lindsey has his own site (i.e., “project”) called Exploring New Media:

In the pursuit of this passion for assisting others with training, as well as teaching the new media and social media skills to beginners, Lindsey will also be taking over the leadership of the Austin Podcasters and New Media Meetup Group. He will engage in topics ranging from blogging platforms to social media tools like twitter and facebook, as well as podcasting, video and other forms of New Media.

With a passion such as this, and with the success to date that he has had by receiving income from his endeavors, it seems that Lindsey is well on his way to crossing the line and becoming a part-time entrepreneur.

Lindsey can be reached via:

- email:  lindsey @ exploringnewmedia.com

- twitter:  www.twitter.com/xplorenewmedia

- web site:  http://www.exploringnewmedia.com

Copyright (c) 2010, Matrix Solutions Corporation. All Rights Reserved.

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