Greater Milwaukee Jobs

Within the first five years of a small-business venture, about half do not survive, according to the government's Small Business Administration. And after 10 years, only a third are still around. "Successful entrepreneurship hits the bull's eye of the American dream, but most simply do not make it," says veteran Texas busi- nessman David M. Smith, author of "The Texas Spirit." "You don't have to have extrava- gant wealth or a degree from Har- vard to make it; a successful busi- ness requires essentially the same thing for a successful life – per- spective." Smith reviews some common denominators for success. • Aim at nothing and you always hit it. "If you're like me – perhaps with a touch of ADD and someone who wants to do too many things than you have time for – this is a helpful aphorism," Smith says. Not every idea that comes to mind should be pursued; be very selec- tive with your time, and when you go after something, go full-throttle. • You cannot win on the defen- sive in business or any other endeavor. Don't think in terms of defense; instead, think of counter- attack. To take a defensive position on anything means that you have conceded at least some of your position. • Work toward optimal employ- ment for everyone in your compa- ny. "At least once a year, I have a one-on-one discussion with every person in our companies – a rene- gotiation to hopefully renew employment for a longer period," he says. "This adds an important personal touch and attention to detail." Of course, the same approach will offer an excellent return in your personal relation- ships, too. 2 GREATERmilwaukeeJOBS • June 5, 2014 Fun tenets of business that you can apply to life and graduate students to turn their ideas into businesses. Serial entrepreneur David Grubbs, who also teaches a startup program at Baylor, believes that the cost of start- ing a business has decreased, attract- ing college students and recent gradu- ates to entrepreneurship. Grubbs helped create Baylor's Accelerated Ventures program, which provides students $5,000 in seed money to create a business over two semesters. Grubbs said many recent college graduates don't have mortgages and car payments, making it easier to save money. He also said many entrepre- neurs create products and services that have a huge online audience and there- fore can operate from any location. "Becoming an entrepreneur allows you to control your own destiny and do something exciting," Grubbs said. According to a survey conducted for online education company Creative- Live, 47 percent of employed millen- nials would like to "get out of corpo- rate America." Although starting a business may be the goal for many college students and recent graduates, it isn't always practical. Dave Stangler, vice president of research and policy at the Kauffman Foundation, a nonprofit supporting entrepreneurship, says that interest in studying entrepreneurship in college is growing but student loans act as a deterrent for starting a business after graduation. "The millennials would certainly appear to be more predisposed to entrepreneurship than prior genera- tions," Stangler said in an article posted by the foundation last month. "The 20- to 34-year-old age cohort still has a far lower percentage rate of entrepreneurship than older cohorts, and that rate has actually fallen in the last couple of years." Southern Methodist University pro- fessor Jerry White said he's seen a surge of interest in college students wanting to run their own businesses, but most will have to wait a couple of years before they can get started. Although college students are inter- ested in becoming entrepreneurs, they need to save capital first, said White, director of the Caruth Institute for Entrepreneurship in the Cox School of Business at SMU. With barriers to entry lower than ever, though, many young entrepre- neurs turn to crowdfunding to raise money and gain support for their ideas, he said. "Fifty-one percent of millennials plan to start their own business in the next five years," White said, citing recent data from the Kauffman Foun- dation. "All you need is a laptop and seed money in order to get something started." Bryan began developing Spotagory last year while still in school. Joining him are Emmanuel Iroko, who has a master's degree in electrical engineer- ing, and Brandt Barham, the compa- ny's creative director. The three work from a "startup house" in Coppell. As a college student, Bryan said, he felt he had nothing to lose starting his own business. "Failure is the stepping stone to suc- cess," he said. His app, which launched in March, allows users to share what's happen- ing around them by providing a photo-based newsfeed for a geograph- ic area. Bryan said he wants the app to provide unity within communities. Spotagory has between 5,000 and Young entrepreneurs . . . from page 1 Liz Reyer is a credentialed coach with more than 20 years of business experience. Her company, Reyer Coaching & Consulting, offers services for organizations of all sizes. Submit questions or comments about this column at www.deliverchange.com/coachscorner or email her at lizdeliverchange.com. Service rep hates asking for help By Liz Reyer Star Tribune (Minneapolis) & A Q Q. When you're networking with people, what kind of help can you ask for? I'm uncomfortable about reaching out and worried that I'll be overstepping. A. Match your request to your need and reciprocate when you can. THE INNER GAME Let yourself become open to possibilities. Each interaction you initiate creates opportunities, both for you and the person you contact. As you consider this, breathe in optimism and breathe out anxiety. Take some time for this, letting your thoughts settle. What is your social style like? Think about your way of interacting when you're making friends or in a new setting.You may be reserved or more gregarious. Regardless, to be successful in networking, you need to be authentic. There isn't a right or wrong way to approach it, but if you seem phony, you'll have problems. Understand your motivation for increasing your networking activity. If possible, it's a good thing to be doing when you're not under pressure. However, you may have been subject to an unexpected layoff or other change, which will require a different level of assistance. Now, examine your fears. What do you think might happen if you reach out for help? You could get turned down; however, in general people are much more likely to want to help. You also might be worried about feeling awkward or being judged. If so, ask yourself what the worst thing is that could happen. Then release your fear or resolve to move past it. THE OUTER GAME It'll help to have some concrete steps to follow, so make a plan for what you're looking for, who you'll contact and what you'll say. Use the example that you're back on the job market. Think about the following questions, which can help guide your outreach: • Do you want to stay in the same field? • What companies would you like to work for? • Do you know what strengths will be most valuable? • What is your plan for any gaps in your background? Then make a list of people you can start with and exactly what you'd like to ask of them. For example, you might know someone who works for a company with an opening you're pursuing. Ask them about the hiring manager and any inside information they may know about the position. Part of the key is to find a tone that helps you feel comfortable. This, in turn, will set the other person at ease. You don't want to be seen as making demands. Avoid "Tell me ." or "I need to know ." Instead, try phrases like, "I wonder if you can tell me about? ." or "I'm looking for information about ." You particularly want to be careful to give an escape route to the other person if you're making a higher stakes request such as an introduction or recommendation. But, don't be so tentative in your wording that the other person doesn't know what you want. That will be frustrating to you both.And, always end your conversation with an offer to help them in the future. THE LAST WORD If you're clear but not pushy, your networking efforts are likely to be well received. see YOUNG . . . page 6 see FUN TENETS . . . page 6 A publication of Conley Media Distributed by: Conley Distribution 262-513-2646 ©2004 by Conley Media Waukesha County Independent and Locally Owned GREATERmilwaukeeJOBS is published weekly by Conley Media – Waukesha County, 801 N. Barstow St., Waukesha, WI 53186. Contents of this publication may not be reproduced in any form without the written consent of the publisher. GREATERmilwaukeeJOBS assumes no liability for any error in copy or content. It is the advertiser's responsibility to be aware of the laws pertaining to employment advertising. Subscriptions are available for $34 (non-refundable) for a 6-month subscription. Call 262/513-2698 for information. Call Center Director: Cindy Shaske 262/306-5016 cshaske@conleynet.com Account Executive: Donna Armstrong 262/513-2698 darmstrong@conleynet.com Story Coordinator: Dwayne Butler 262/513-2626 dbutler@conleynet.com Production: Patricia Scheel 262/513-2690 GREATERmilwaukeeJOBS Volume 16 • Number 38 June 5, 2014 To place an ad: Call us at 262-513-2698 or fax us at 262-542-6082 deadline: Noon on Wednesdays

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