Cambridge Entrepreneur Academy https://www.cambridgeentrepreneuracademy.com Wed, 14 Nov 2018 18:00:12 +0000 en-US hourly 1 https://wordpress.org/?v=4.9.8 https://www.cambridgeentrepreneuracademy.com/wp-content/uploads/2018/09/cropped-C_Users_mark.m_AppData_Local_Packages_Microsoft.SkypeApp_kzf8qxf38zg5c_LocalState_6ace4629-ce93-4adb-95e2-7ac2da04bbf5-32x32.png Cambridge Entrepreneur Academy https://www.cambridgeentrepreneuracademy.com 32 32 What Is An Entrepreneur? What Do Entrepreneurs Do? https://www.cambridgeentrepreneuracademy.com/what-is-an-entrepreneur-what-do-entrepreneurs-do/ Mon, 01 Oct 2018 21:06:19 +0000 https://www.cambridgeentrepreneuracademy.com/?p=1051 An entrepreneur is probably one of the most misunderstood out of all professions. And yet, an entrepreneur is a profession just like being a plumber or doctor or teacher because entrepreneurship comes in all shapes and forms. An entrepreneur is a profession that does NOT require any of these elements: You do not need a degree, You …

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An entrepreneur is probably one of the most misunderstood out of all professions. And yet, an entrepreneur is a profession just like being a plumber or doctor or teacher because entrepreneurship comes in all shapes and forms.

An entrepreneur is a profession that does NOT require any of these elements:

  • You do not need a degree,
  • You don’t have to pass a test,
  • You do not need to be really smart,
  • You do not need a lot of money to start,
  • You do not need other person or program telling you that you are one.

You are the only one in the world that can make yourself an entrepreneur. You can learn the skills as you move along.

However, you might still be wondering about this question, “What Is An Entrepreneur?”

What is an entrepreneur? The answer is anyone who decides they want to become one is an entrepreneur. If you want to become an entrepreneur, you can become an entrepreneur the minute you decide to do so.

When you look up the word, “entrepreneur” in the dictionary you will find:

Entrepreneur: noun

A person who starts a business and is willing to risk loss in order to make money
One who organizes, manages, and takes on the risks of a business or enterprise

I so disagree with this definition, for a few reasons:

  • There can be more than one entrepreneur in a company, and in fact, in the successful companies you will find 2 or more people claiming that they were founders.
  • An entrepreneur can be the person who came up with the idea, or the person that took that idea and turned it into a business.
  • If you know what you are doing, being an entrepreneur is less of a risk than most other professions, because you have controlling decisions about your work, not some boss that you work for. You are the boss.

And how do we minimize risks for future entrepreneurs?

The Answer:

By better understanding the job of an entrepreneur and by learning the skills an entrepreneur needs to run a business. There are many different skills an entrepreneur needs in order to run a successful business and each one falls under the Four Point Triangle Course that we teach in the Academy.

Business meeting of entrepreneursBasically, there are four key areas in every business that each entrepreneur has to understand and learn about. In a new business or an existing business, each of the four areas can be run by a person who is an entrepreneur, meaning you can have more than one entrepreneur in a company.

The four key areas are:

  1. Administration
  2. Operations
  3. Sales and Marketing
  4. President or CEO

Kids can be entrepreneurs too!

Our definition of a kid entrepreneur: someone who makes money, can save the money, and handle all the responsibilities of School, family, friends. They don’t have to own a business.

Entrepreneurs have to learn many skills to become successful. Some of which include:

The 5 Leadership Skills

  • Good communication
  • Vision
  • Persistence
  • Execution
  • Becoming Trustworthy

In addition to…

  • Understanding The Financials
  • How to market and sell
  • How to manage employees and set rules for them
  • How to follow business rules like paying taxes and registering a business
  • Making a profit
  • Believing in yourself,
  • Working together by team building
  • And many more.

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Tips For Starting A Business From Scratch https://www.cambridgeentrepreneuracademy.com/tips-for-starting-a-business-from-scratch/ Mon, 01 Oct 2018 21:01:28 +0000 https://www.cambridgeentrepreneuracademy.com/?p=1049 Are you looking forward to start a business from scratch with little to no money? Watch the video to learn more! There are a few ways to start a business from scratch. Here are two of them: To make something, that does not cost much to make and sell it for more than it costs to …

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Are you looking forward to start a business from scratch with little to no money? Watch the video to learn more!

There are a few ways to start a business from scratch.

Here are two of them:

  1. To make something, that does not cost much to make and sell it for more than it costs to make.
  2. By organizing with a four point triangle team that we teach in the Academy.

I made something and then I sold it, that is how I started the Vermont Teddy Bear Company

I had a son. He received over 30 stuffed animals from friends and family when he was born and not one of them was made in the USA. I researched the industry, learned who made the first one and what the company did. It did not cost me much to make a bear. I loved doing it so I made a bunch more. I built my own outdoor peddlers cart and sold my bears on that cart. I kept trying new ways to sell my bears, and always making them better and better. I learned how to sell them as a gift, that is what made me successful.

Learning how to sell

Business partners putting up a new businessWhatever you want to do for your business idea is key to the success of starting a business from scratch.

First, find something that you can make or someone can make it for you. It is ideal if the cost of making your product or service does not require a large investment upfront. Then, you can:

  1. Figure out how you are going to sell it.
  2. Look for better and better ways to sell it
  3. Work toward making it better, not really cheaper

A really good way to start a business from scratch is by understanding the Four Point Triangle.  The Four Point Triangle is how every business runs.

Learn what your strength is. What are you good at ? Is it

  • organizing,
  • making things,
  • selling things,
  • running things,
  • bookkeeping?

Then,

  • Dream about what kind of business you would like to build or be part of building
  • Research other successful people who have done what you want to do, learn for them
  • Learn as much as you can about how to run a business,
  • Learn about stock and stock ownership, the stock is what you will work for, you work to increase the value of the stock

Learn about the Four Point Triangle

  • Find others, that can be part of the four point triangle, that have the strengths you do not have
  • Work together as a group, to make a plan to make your product or service
  • Work as a group to sell your product or service
  • Work as a group to increase the value of the stock,

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3 Health And Wellness Tips For Busy Entrepreneurs https://www.cambridgeentrepreneuracademy.com/3-health-and-wellness-tips-for-busy-entrepreneurs/ Mon, 01 Oct 2018 20:58:37 +0000 https://www.cambridgeentrepreneuracademy.com/?p=1044 The Proper Care and Feeding of Entrepreneurs Entrepreneurs are “the doers” and as doers we are often the first ones up in the morning and the last ones to bed at night. Burning the candle at both ends is what we do, right? Ahh….but at what cost? At the time I sat down to write …

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The Proper Care and Feeding of Entrepreneurs

Entrepreneurs are “the doers” and as doers we are often the first ones up in the morning and the last ones to bed at night. Burning the candle at both ends is what we do, right? Ahh….but at what cost?

At the time I sat down to write this, my husband (who works for an entrepreneur in business coaching) was flat on his back on the couch with a 24-hour bug. The next day when he went sniffling back into work…half of the office was out sick! So what did that cost in lost production?

Business woman writing on the boardMy point here is that as “the doers” we often forget to do the most important thing of all…TAKE CARE OF OURSELVES! And particularly in the area of health and wellness! We would never, ever think of going into a meeting with a potential new client unprepared leaving ourselves open to the risk of the unknown. But for some reason (secretly we think we are Super Human) when it comes to our own health, we don’t always take that same intentional, preventative approach.

So what can we doers DO to ensure that we run our health as smoothly as we do our business? Let’s start by looking at three strategies to help avoid a recent trend that’s happening in homes and offices everywhere….the flu season!

I’m here to tell you that you don’t have to participate! Building a strong immune system to ward off those nasty little invaders is as easy as one, two, three! So let’s start building!

Strategy #1

SUNSHINE! Yep, good ol’ Vitamin D from the sun! But there isn’t a ton of sun to be found for most of us, right? So if you are not living in a year-round sunny climate, your immune system is going to suffer and you will need to supplement with Vitamin D. The recommendation that I have been given by my own natural health practitioner is a minimum of 5,000IU and listen closely…make sure that it is not synthetic. Your body does not know what to do with synthetic vitamins.

Strategy #2

ELDERBERRY is a great way to help prevent viruses from replicating. Eating elderberries is a terrific way to help build the immune system, but elderberries are not in season and can be difficult to find this time of year (not to mention expensive). Food source elderberry supplements are great or you can check out what our family has been using for over five years that includes elderberries AND over 29 other fruits, veggies and berries! Juice Plus Orchard, Garden and Vineyard Blend

Strategy #3

OREGANO AND GARLIC kill bacteria, viruses, fungus and molds. So stock your “medicine” cabinet with this natural remedy. You can find sprays with oregano and garlic supplements in a natural food store or online. Be sure to read the labels carefully and look for whole food sources. I suggest that you find a natural healthcare practitioner or someone you trust to guide you to the best sources!

So I encourage you to skip this flu season! You don’t have to participate if you get your body ready! You have all the tools necessary…eat well, exercise and supplement where needed. And don’t freak out when you do get sick. Your body knows what to do. If you have prepared it well, it will do it’s job! Now, Entrepreneur, let’s get busy doing!

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How To Set The Right Goals For A Business? https://www.cambridgeentrepreneuracademy.com/how-to-set-the-right-goals-for-a-business/ Mon, 01 Oct 2018 20:46:18 +0000 https://www.cambridgeentrepreneuracademy.com/?p=1046 Goals for a “for profit” company, and for a “nonprofit” company are different. Primary goal for a “for profit company”  is to make money, to make a profit. First step is to separate Primary and secondary goals. When setting goals consider:  customers, stockholders (owners), community, workers, family, and yourself when setting goals. Set a goal to work toward making a …

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Goals for a “for profit” company, and for a “nonprofit” company are different.

Primary goal for a “for profit company”  is to make money, to make a profit.

First step is to separate Primary and secondary goals.

When setting goals consider:  customers, stockholders (owners), community, workers, family, and yourself when setting goals.

Set a goal to work toward making a better company by understanding financials,

grow your business as an asset, understand ratios on balance sheet like debt to equity.

Businessman listing his goalsBetter Communication should always be a goal.

The Vision is a goal, update the 3 -5 year plan,

Work toward better execution, stop spinning wheels,

Fix the weak parts, ask yourself,

“what is the weakest part of your 4 point triangle”  the 4 point triangle is how every business runs, and The 4 Point Triangle is explained and taught to our members at Cambridge Entrepreneur Academy

My business goals changed over the years

with The Vermont Teddy Bear Company

My first goals were about selling my bears on my teddy bear cart.

They changed on the journey to eventually taking my company public.

But making a profit and making more money always was my primary goal

  1. To make money to pay bills for my family
  2. To increase sales
  3. To not lose money
  4. To keep believing
  5. Changing how I sold the bears
  6. Increase wages every year
  7. Improve customer service
  8. Increase the value of the stock from 1 cent to $20 dollars

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What I’ve Learned By Learning Entrepreneurship And Business From Millionaires And Billionaires https://www.cambridgeentrepreneuracademy.com/what-ive-learned-by-learning-entrepreneurship-and-business-from-millionaires-and-billionaires/ Wed, 26 Sep 2018 20:09:58 +0000 https://www.cambridgeentrepreneuracademy.com/?p=1039 Many people miss the guiding light to their path of success because they look for clues based on what they think success is and not what success really is. Here’s what I mean. Let’s just say someone defines success as becoming a millionaire. Most people would look at acquired stuff… cars, houses, jewelry, fancy vacations, …

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Many people miss the guiding light to their path of success because they look for clues based on what they think success is and not what success really is.

Here’s what I mean. Let’s just say someone defines success as becoming a millionaire.

Most people would look at acquired stuff… cars, houses, jewelry, fancy vacations, etc. as clues that someone is a millionaire.

That stuff has nothing to do with it.

Actually, tons of broke people charge all of that on credit to make it look like they have it made, while many millionaires and billionaires live rather modestly.

You wouldn’t know they have it, if you didn’t know they have it.

In reality being a millionaire/billionaire is a mindset that can create assets and produce infinite cash flow.

How do you identify someone with such rare mindset?

It’s simple… Listen when they speak and watch what they do and how they do it.

Their words, thoughts and actions stand out but, not in a flashy way.

It’s more of an “Oh, wow! That makes so much sense”- kind of way.

Once you know how the millionaires/billionaires move and the crazy amount of work and being different that goes into it… you will know if that’s the path for you.

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