Wednesday, May 6, 2009

Entrepreneur Workshop NAAAP-Seattle at UW

The Entrepreneur Workshop
at UW on April 22nd

It went really well. We have about 35 people attended including panelists. Being an entrepreneur has pros and cons that you should weigh them yourself whether or not it's suitable to your life style. It will be for sure difficult and stressful at the beginning. Ask yourself a question, such as, do you like freedom?, do you want to work for yourself or a company?, can you handle stress?, are you okay to not have regular paycheck every month, no bonus? What about in a long run? You work more, you get more.

The next step would be to find what you really enjoy doing and you have passion on. Then write out possibilities if you can turn it to $$$. This seems to be easy, but it's not really. A lot of people have hobby, but how to turn it around to $$$. That's something you need to think about. If you find one, lucky you! If not, keep looking. Opportunities are all around you. Be creative and think outside the box.

Then it comes to strategy and business plan. You NEED a plan! Passion only is not enough. It's tough market out there especially in a down turn economy. Write it out because you can see it more clearly than in your mind. Some entrepreneurs take business class. The question is "is that really help?" It might, but it helps for sure to help you be more structure and think it through. Get yourself out there. Mingle with successful people and ask for help. Our panelists recommend to get a mentor. Professional athletes have a coach, why not you?

A lot of attendees asked about finance. You can either go to organizations that help small businesses, go to an angel and sell your idea, convince them to invest in your idea, or go to your saving. It all depends on circumstances. You can consult this with professionals and mentors.

Have you heard about gut? Everybody has gut. However, it's not always right!! Gut will grow with experience. Take gut and structure together into consideration before making decision. It might be a high risk, but it will also be high return.

Having an entrepreneur-minded is a good start. Not many people have this mindset. If you have it, you're lucky. Good luck and pursue your dream!

NAAAP-Seattle: We make leader!
Courtesy photos of Sopon Supamungmee