Schools To Be An Entrepreneur

school

I watched an Oliver Roland’s video  and I learned good stuff.

There are schools with specific courses about entrepreneurship. But several studies show that only 10% of students create their own companies. The vast majority go looking for a job.

It’s possible that these students create their own companies 5 or 10 years later but these are statistics that are hard to get.

It’s possible that these students start their company 5 or 10 years later, but these statistics are hard to have.

Look this podcast about « How should Business Schools prepare students for startup ? ».

What is interesting is to talk to entrepreneurs and to see that the vast majority of them have never studied at a school about entrepreneurship.

Being an entrepreneur is like any other exciting job, we always keep learning. Being an entrepreneur is a mission of life and it’s necessary to become better day after day.

If there is no effective school to learn entrepreneurship, we know that there is a curriculum to be a businessman.

MBA

mba

MBA (Master of Business Administration) is a huge curriculum. It’s often 1-2 years of your life after a professional experience. Which means that for 1-2 years, you don’t earn a salary. And it should be added that a MBA costs between $ 50 000.- and $ 100 000.-. You see, you really need to be motivated to do it.

It’s clear that having a MBA make it possible to have a better salary, it also helps to have knowledge in business but there are interesting critics on the results obtained on the field.

A MBA shows your employers that you’re able to sacrifice your life for your job. During a MBA, you work 70-80 hours a week to get it, which means that you’re able to do the same hours per week for your employer.

A MBA helps to create a network, but now with internet, there is another way to create a network. Interesting people don’t look for people who was in the best schools, they are looking for people who have projects and who shows that they’re capable to realize their projects.

Among the people who have negative reviews on MBA, we can find Seth Godin. Seth Godin is a well-know author and marketing expert in USA. He has a MBA from Standford and quotes : « Having A MBA is learning the best techniques for running a company in the 1990s for 2 years, while the world runs as fast as it can ».

We also have Peter Thiel. Peter Thiel is the co-founder of PayPay and Palantir and he’s the first external investor for Facebook. He has a MBA and he’s not satisfied with the results he obtained on the field.

What is certain is that a MBA is not really about creating entrepreneurs but about creating good employees able to run a company of the 1990s.

At the moment, there is no effective school in the world to learn to be a good entrepreneur. Being an entrepreneur is a state of mind and a decision of life. It’s all learned on the field, reading books and talking to more experienced entrepreneurs.

There is an interesting book « The Personal MBA »  that lets you learn the basics of a MBA without spending 1-2 years of your life without pay working 70-80 hours per week and saving between $ 50 000.- and $ 100 000.-. All this only by reading this book.

But I’m open-minded and it’s possible that someone took a course on entrepreneurship in a school. If that’s your case, it would be cool if you shared the experience you had in school and how it helped you to create and grow your company.

Share this article if you think it can help someone you know. Thank you.

-Steph

Online Guarantee

online guarantee

I watched an Olivier Roland’s video  and there is good stuff.

In Europe (yes, I’m living in Europe), the law says that a consumer has 15 days to return a product he bought by mail. Products bought on internet are part of these purchases by mail as digital products, training or softwares.

The law also says that a consumer may waive the guarantee by checking or unchecking a checkbox to receive a product faster. Some companies have a procesure to wait until the guarantee’s period is completed before sending a product to allow time for the consumer to think about if he/she changes his/her mind.

The most interesting guarantee to make is a 30-day guarantee for online training. If you do a 1-year training, you can make a guarantee on results with conditions. If after 1 year, a person doesn’t have expected results despite that person has seriously followed and applied the training’s content by showing evidence, that person may claim the refund.

For the 30-day guarantee, there aren’t conditions. Whatever reasons, a person is systematically refund. It’s true that is interesting to know why a person wants to be refunded but it’s not obligatory.

A guarantee for success

guarantee for success

Yes, it help you to have success because guarantee is a trial period for the entrepreneur and the consumer.

Consumer

Many people are anxious to buy a product on internet, especially if the product is digital. The guarantee make it possible to reassure them.

People who have hesitated to take an online training will continue to hesitate for 30 days but more intelligently. Because the 30-days guarantee are free trial days so they can see how it works, how is the content’s quality, how the community interacts with coaches, how is the track’s quality of each participant, etc. If your product is good, you’ll have more sale than refund.

Entrepreneur

This allows you to filter out annoying consumers. If during the 30 days, you see a consumer who demands weird stuff or complains, criticizes all the time or isn’t polite, you can say it’s better to stop and pay him/her back.

It’s like for a job, the employer sees if the employee corresponds to the workstation and the employee sees if the job is suitable for him/her. This for both side and it’s a good method to avoid having unnecessary problems.

Attention

I don’t advise you to filter consumers when you start your company. You need to accept all consumers to reach your break-event point. Once you have reached a certain threshold of success, you can filter your consumers.

The guarantee is also a legal protection. When consmers aren’t happy, they leave, it’s simple.

Marketing

human behaviour

With marketing, we can see human behavior and there are some surprising things. Here an exemple with a form to receive an eBook. We can have 10 % more conversion when we fill in the first name and email of a person in the form. We can do it only if the person is subscribed to our newsletter but this is show how people are lazy by nature.

Yes, 10 % more only because people just have to press the button « OK » instead to type their first name and email, surprising !

Something else. It’s true that you’re going to have people who will just register to enjoy the 30 days free but reassure you, it’s a very small minority. Most people are honest and if you gave a product that gives value and quality, you’ll have more sale than refund.

It’s easier to use this kind of guarantee with digital product but it’s possible to do it with physical products.

How do you set up this type of guarantee for your product ?

-Steph

You Really Should Outsource

outsource

Hi,

I watched an Olivier Roland’s video  and there is good stuff.

Maybe there is something you could outsource in your life or in your business ? It’s good to have something to save time, money and energy.

Exemple

You don’t like your job but spend a lot of time to read job offers discourage you. You can use Upwork to hire someone to do job searches for you. This person will give you a list of the best job offers so you can apply. It’s cool !

Upwork

upwork

Upwork  is the largest marketplace in the world to find service providers troughout the world. You will be able to delegate some of the things you have to do. It’s expensive ? Wait, if you find someone who live in a developing country, prices will low compared to the prices of your country. The Upwork principle is not to make work children of 12 years old like Nike or Reebok but to offer work to someone, a respectable job than can make in good conditions.

If you have the budget, you can take service providers from North America or Europe.

Upwork isn’t the only platform to propose this kind of service, this is a lot.

Fancy Hands

fancy hands

Ther is a application named « Fancy Hands »  You download this application on your smartphone, it’s a virtual assistant’s team in U.S.A (until now the only langage is english) and you can ask everthing. There is a « + » button and you can ask something by voice, text or photo.

I show some exemple :

  • Can you find my the three best piano school next to my house ? Of course when you completed your profile you wrote your address.

  • I’m a HSBC Premier’s customer. I would like to know if when I buy a flight ticket, I have rights entitled to an health insurance ?

  • Can you call UPS ? Because they came to my house and they left a note. I must call them to have a new appointment but I don’t have the time. Can you ? You take a picture of the note so that they have all the information and it’s ok.

It’s simple things. You can delegate to them tasks of research, booking of restaurant, hotels or flight.

If you make a thesis or dissertation for your studies at the univerity, you have to put scientific references on what you write. Usually, people advise you to hire a research assistant. Now, you can find one quickly on these platforms. A Students don’t have money ? If you work with someone from a developing country, I’m sure it works with your student budget.

They save your time to focus on what is important for you

You don’t have an Upwork’s account ? Go and create it. It takes a few seconds and it’s free. I advise you to do this and spend 10 minutes a day to find the things you can delegate.

Even in your job you can delegate repetitive tasks. Warning, check if it’s legal for you to outsource a part of your job. Check with your employer or a lawyer.

By doing that you will acquire a new skill. Image how would be your life if you can outsource most of repetitive tasks you don’t like to do. You will develop this outsourcing skill. In the 21st century, we will delegate more things to services in the Cloud and this will increase.

What is the first service you use in Upwork ?

-Steph