Entrepreneurship And Personal Development

entrepreneurship, entrepreneur, company

What’s up ? This is THE stephane ANDRE !!! I heard Olivier Roland’s tips and I learned some good stuff.

Entrepreneurship and personal development are 2 related elements. To start, I think it’s necessary to define “personal development” because there is everything and anything. Personal development means self-development. Self-development means getting better. It’s important to clarify this definition because the majority of people (and also the majority of my family members) think that personal development is a scam.

Personal development

personal, development

What I understand is that these people are talking about companies in the personal development industry. And yes, as in all industries, there are scammers but the difference with personal development is that we buy not a product or service but training. And to know if a training is effective it takes several months. But I repeat again in every industry, there are scammers and there are excellent personal development companies. Now, we agree that personal development is about getting better.

Entrepreneurship

entrepreneurship
entrepreneurship word cloud concept isolated on white

For a company, a company must always improve its products or services to satisfy clients. As you can see, the word « improve » is common to both. Entrepreneurship is something that takes you out of the comforts zone and asks you to be bold. It’s something that many people dream of doing but don’t dare to do.

Entrepreneurship is something that involves risks and even significant risks such as no longer having money, going bankrupt, being the laughingstock at by your family or co-workers who have stayed in their jobs and who tell you : « You see, I told you ! », etc.

The problem with entrepreneurship is that we can’t learn to be an entrepreneur at school. I know there are good schools that teach a lot of things, but it’s only in the field that we learn. And with high tech, everything is changing very quickly and schools don’t have time to create a course on a specific topic because on the field it has already changed.

Same common point

When you decide to be an entrepreneur and start a company, you need to improve yourself and learn new things to grow your company. My opinion is that entrepreneurship is a great way to become a better version of yourself.

Entrepreneurship and personal development are linked because of the verb « to improve ». There is also another way to improve yourself in life. We’re experiencing difficult problems that make us move out of our comfort zone and evolve. But the problems always happen by surprise (like my dad today with his early Alzheimer) while the entrepreneurship, it’s us who decide to make this process, it’s intentional. And because it’s intentional, this process allows us to improve yourself, to improve the lives of loved ones and improve the world.

Subscribe to my newsletter and share this article if you think it can help someone you know. Thank you.

-Steph

P.S. If you’re in Miami and you like Caribbean food, go to my cousin’s bistro to eat Haitian food, click here .

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This Problem Is Blocking Your Success

problem

What’s up ? This is THE stephane ANDRE !!! I watched an Olivier Roland’s video and I learned some good stuff.

In the last Leonardo da Vinci’s biography written by Walter Isaacson (who is also the author of the Steve Jobs biography, 2011), we can see that he was an extremely curious man. This curiosity allowed him to explore several different areas, boost his creativity and make a huge contribution to art. But the downside is that he kept changing projects.

Because of this, Leonardo da Vinci left a mind-blowing number of unfinished works of art. There are several scientific fields where he could have advanced the humanity of 2 centuries, if he worked more and published his results.

Attitude

This show us that we all have different attitudes to things that interest us, to our projects. We can explore something because we want to know how it works or master it to improve our lifestyle.

Attitude is very important in life. For example when you do something you like, you don’t have the same attitude as for something you like moderately or not at all. The last project you did, did you give the best of yourself to the end or not ? The question is whether you’re aware of the mission you want to accomplish through the project.

Mission

mission

In a project, the mission, the goal is essential. There are many people around me who say they want to be successful. They say things like : «  Yes, I want to be successful, if I find success around the corner, I would not say no. It would be cool ». But that doesn’t happen like that. To succeed in a mission, it’s necessary to give the best of oneself. And it can take many years, so don’t be naive. With internet, there is a myth that makes everyone believe that in 2-3 years we can be a millionaire, that’s wrong.

When I created my blog, I had friends who also had their blog or YouTube channel, but they all stopped. We didn’t have the same mission and the same attitude when we started. You can see in the top left of my blog this sentence : « I’m building my legacy ». This is my mission.

It’s really good to be curious, but once you’ve found something that interests you, focus on it. Work on this passion in « Guerrilla » mode to develop it, because it will become your main source of income. When I say « Guerrilla », it means that you give the best of yourself. You want to know what skill you have to learn, you want to learn from the best players in the field, you do tests to innovate, etc.

With a definite mission, a « Guerrilla » attitude and patience, you’ll have the success you deserve in your project.

Subscribe to my newsletter and share this article if you think it can help someone you know. Thank you.

-Steph

P.S. If you’re in Miami and you like Caribbean food, go to my cousin’s bistro to eat Haitian food, click here.

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Start A Smart Company

startup company data

What’s up !!! This is THE stephane ANDRE. I watch an Olivier Roland’s video  and I learned some good stuff.

To create a company, most people advise to leave school or job to be 100% focused on creating the company. I advise you to start your business part-time and continue your school or job. An excellent method for this is « Lean Startup » . The principle of Lean Startup is to put on the market as fast as possible your product/service at minimum viable.

2 different methods

method scientific

Classic

Let’s take a closer look at what most people do. A person has an idea to start a company, so this person does a market research to minimize the risks. Then this person will seek financing with bank loans after calculating the needs of the business. These business needs based on a 3-years business plan that is extremely theoretical and hypothetical. You should know that in 99% of cases, as soon as the company is open and prospects are in contact with the products/services, these business plans have no connection with the reality of the field.

The problem with this method is that this person works for 1 year to create a product/service and when it’s available, this person realize that everyone doesn’t care. When the product/service isn’t selling, the stress rises enormously and you have to find a way to pay back people who lend money to your company.

Lean startup

With the Lean Startup’s method, when a person has a product/service idea, the principle is to find the minimum basic function of that which would interest the audience and the prospects who would be willing to buy. Then you have to do a test as soon as possible on the market. There is something very important that Michael Masterson said : « Before your business make its first sale, it’s nothing more than a set of unproven ideas that you are spending money on ».

That is why it’s necessary to set up a field test in the most real conditions possible with the most minimal version of your product/service.

Here is an example with someone who wants to buy a parking lot to rent it :

  • With the classic method, this person bought a random parking lot hoping to have many prospects interested in renting it.

  • With the Lean Startup method, this person will find an interesting parking lot to buy. Then this person will post an ad in an ads posting site and on social media and will wait to see if there are peope interested in renting it. If people call this person to say : « I’m interested in having your parking lot, I’d like to rent it », in this case this person will buy the parking lot. If nobody is interested in the parking lot, this person will not buy it.

Test quicky

test field

There are several other methods like this to test. In my case, it’s my blog to build my brand and until today, I’m doing it part-time. Here is a 3-part article in the power of a blog ( here  ).

Create my blog allowed me to :

  1. To know if I could find and keep my rhythm to write articles

  2. To know if I could share interesting things to create an audience

  3. To know if I could possibly monitize this blog with this audience

Once you have the idea, you need to test it as soon as possible to see what is happening on the field to collect feedback from the first customers and to know if you have an interesting business model or not. This test is excellent for eliminating a lot of uncertainty.

The cool thing about the Lean Startup method is that you’ll really start investing a lot of time, money and energy when you have your first customers who will help you improve your product/service.

Let things be clear, Lean Startup isn’t a magic formula, it’s necessary to act and start the process again, until you have a product/service that interest people.

Subscribe to my newsletter and share this article if you think it can help someone you know.

-Steph

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Challenge Your Intelligence

brain scan

I watched an Olivier Roland’s video  and I learned good stuff :

Have you ever heard that : « If you’re smart and you’re always surrounded by idiots, you’ll always be right ».

Sincerely, there is a deep truth in it. This corresponds to this quote « If you’re the smartest person in the room, you’re in the wrong room ». We are human beings and it’s easy to follow your ego. It’s easy to stay in an environment where we’re always right because subconsciously we want to be around people who adulate us or put us on a pedestal.

When we look around, we see people who are successful and who stay in a bubble where they’re surrounded themselves with people who will always agree with them. It’s in our human nature not to like the contradiction of what we are and the values we defend. All of this is logical, we have success, we developed values and a life approach that we tested in the field and we don’t know others ways.

It doesn’t mean that in any case it works and that doesn’t mean that there are not other ways to succeed.

A group of intelligent people

 

mastermind group

When was the last time you were in a room where you felt that you weren’t the smartest person in the room and that you learned new things ?

What is interesting when yo participate in a mastermind group is that you’re surrounded by brilliant people who don’t hesitate to say when there are obvious things in you and you don’t see them. It allows you to change your point of view and forces you to face your own limiting beliefs.

Often during a mastermind group, there is a « hot seat ». A « hot seat » is when you share a specific problem and a specific question to the group. What is surprising is that we always see the same pattern that repeats itself. There is a person who shares a problem and a question and we see a lot of obvious things about the limiting beliefs of this person, how much that person has locked himself/herself into a part of the problem. From the outside, we see that there are other ways to attack the problem and we also see obvious solutions.

What’s interesting is that it seems extremely obvious for a person who is in the group to help find the solution but when you share your problem and your question, the group offers you things that you have never seen by yourself.

We all need a moment to take out our trash. We all need to share with a group what doesn’t work and what problems we have. Whenever we do that, we realize that we all have blind spots. Things that seem obvious to everyone but seem hard to see. It’s like seeing the flaws of another person but we don’t see ourselves our flaws.

Here’s an example, I’m ticklish. I can try to tickle myself, I can’t laugh but if someone else tickles me, I laugh immediately.

I can’t be at the window and see me walking in the street at the same time. So if you’re an entrepreneur and you feel isolated, break this situation. Go to events, try to meet other entrepreneurs because it will help you a lot.

You can’t know how many mistakes you make each day without realizing it. Only someone else can show you, your mistakes if you allow him/her to do so in a caring way. It’s not a matter of showing mistakes by accusing but in a kindly way to help you move forward. If you can participate in a mastermind group to be in a collective spirit of brilliant people, do it. It’s a great place to no longer be the smartest person in the room and learn new things to improve yourself.

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

-Steph

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A Pratical Tip To Validate Your Approach

data science tableau check

I have just enrolled in a Data Science course on Udemy  and I learned good stuff.

How was the A/B test « Number Of Product » ? Easy or difficult ?

Here is the result I found.

data science tableau check bar chart

I think you noticed there was something bizarre. There is an anomaly. We imagine that the more the client has products, the more the client is satisfied with the bank so this type of clients should stay in the bank.

In the first 2 bars we can see that a client who has 1 product is more likely to leave the bank than a client who has 2 products. But when a client has 3 or 4 products, we see a huge rate of clients leaving the bank.

Look, there is a little bizarre detail. In the 2nd bar, we can’t see the « Exited » label. This is because there is no place in the orange part to put the text. To make it simpler, we’ll remove the label « Exited ». Drag and drop on the « Exited » text label to the outside.

data science tableau check bar chart

data science tableau check bar chart

Perfect, we can read the percentages. On the 1st bar, we can see that among the client that have 1 products, 28% left the bank. On the 2nd bar, we can see that among clients who have 2 products, 8% left the bank. This show us that clients who have 1 products are more likely to leave the bank than clients with 2 products.

And for the next bars, we observe an anomaly. On the 3rd bar, we can see that among the clients who have 3 products, 83% left the bank. On the 4th bar, we can see that among clients who have 4 products, 100% left the bank. We clearly see that there is a problem and we need to do a deeper analysis to understand what is going on .

As a Data Scientist, we need to explain what happens in bars 3 and 4. Usually when a client has 3 or 4 banking products, that means he/she is satisfied and is loyal to the bank. But in our case, it’s the opposite because there is a high rate of client who left the bank. This is the time to do deeper analysis.

The first thing to analyze is the quality of the data. There is a very big anomaly and it may be because there is something insignificant in our data that disturbs the statistics. For example, it’s possible that when the bank selected these clients in this sample, there were very few clients with 4 products and all those clients with 4 products left the bank. Sometimes chance can create anomalies and you have to play attention to these effects of chance because they don’t seem important but they can create false interpretations.

To start, we will check the number of clients with 4 products.

In « Measure », move « Number Of Records » (which gives the number of observations) on « Label ».

data science tableau check bar chart

data science tableau check bar chart

We observe on the first 2 bars than many clients with 1 or 2 products selected for our sample. For clients with 3 or 4 products, we can see that there were fewer clients selected for our sample.

There are 220 clients with 3 products and 60 clients with 4 products. These small number of clients probably explain why we observe these anomalies.

In this sample of randomly selected clients, there are very few clients with 4 products and they all left the bank. In this situation, we can confirm that it’s a chance. When thing like that happen, you have to be very careful not to make conclusion too fast and make misinterpretations.

The conclusion is that a lot of clients have been selected for category 1 and 2. For category 3 and 4, there have been few clients selected so we can’t do accurate statistics. We need to do deeper analyze for these categories of clients with 3 and 4 products.

Now, let’s put the percentage back on the bar chart. Click on the « Back » button.

.

data science tableau check bar chart

Or do a click and drag of « SUM(Number of Record) » to outside.

data science tableau check bar chart

data science tableau check bar chart

We saw that there is an anomaly and what is interesting to do is to have a comment to remember to do a more in-depth analysis of columns 3 and 4.

Right-click between the bar chart’s title and the bars. Select « Annotate » then « Areas… ».

data science tableau check bar chart

A window appears. In this window, you write « Low observation in last 2 categories » and click on the « OK » button.

data science tableau check bar chart

data science tableau check bar chart

Click on the comment and move it on bars 3 and 4.

data science tableau check bar chart

data science tableau check bar chart

The next time you work on this bar chart, you will see this comment that will remind you to seriously analyze client who have 3 and 4 products.

Validate our approach

It’s time to show you how to validate an approach and how to validate the data. For this we will create a new A/B test.

Duplicate this worksheet with a right-click on the « NumberOfProducts » tab and select « Duplicate ».

data science tableau check bar chart

And rename the tab « Validation ».

data science tableau check bar chart

For this tab, we will erase the comment. Select the comment and press the « Delete » button on your keyboard.

data science tableau check bar chart

data science tableau check bar chart

Everything is ready, the idea is to find a variable that doesn’t affect our results. That is a variable that has no impact on a client’s decision to leave or stay in the bank.

Take for example, the variable « Customer Id ». Client’s identification number has no influence on the client’s decision to stay or leave the bank.

We’ll do an A/B test with the last digit of the « Customer Id » and we’ill check that there is the same clients proportion who leave the bank in the 10 categories of the last digit of the « Customer Id ». The 10 categories are the numbers 0,1,2,3,4,5,6,7,8,9.

Let’s g.To start, we will create the variable that contains the last digit of the « Customer Id ». To have this variable, we will create a « Calculated Field ».

Right-click on « Customer Id », select « Create » and click on « Calculated Field ».

data science tableau check bar chart

data science tableau check bar chart

Name the calculated field « LastDigitOfCustID ». In the text field, we use the « RIGHT » function with « Customer Id » in parenthesis to select the last character of the « Customer Id ». In our case, the last character of the « Customer Id » is the last digit.

Here is the code to write in the text field : Right ({Customer Id},1)

data science tableau check bar chart

data science tableau check bar chart

Oooops, you see there is a small mistake => The calculation contains errors.

There is an error in the formula because « Customer Id » is a number variable and the « RIGHT » function applies to a variable of type « STRING ».

To use the « RIGHT » function, we will convert « Customer Id » into a string. We will use the « STR » function with « Customer Id » in parenthesis.

Here is the code to write in the text field

And click on the « OK » button : Right (STR({Customer Id}),1).

data science tableau check bar chart

Now, you can see that our calculated field « LastDigitOfCustID » is in « Dimensions ».

Click on « LastDigitOfCustID » and move it on top of « NumOfProducts » in « Columns ».

data science tableau check bar chart

data science tableau check bar chart

Now we have a new bar chart and we see that for every last digit of the « Customer Id » there is about the same proportion of clients leaving the bank. All these proportions don’t correspond exactly to the average of 20% but these slight variations aren’t important.

Seeing this uniform distribution allows us to validate our data because these data are homogenous.

Conculsion

Here’s how you can check the homogeneity of your data. You take a variable that has no impact on the fact that a client leaves or stays in the bank. The example we did with the last digit of the « Customer Id » is excellent. We were able to verify that in each of the categories taken by this variable, if there was the same proportion of clients leaving the bank. As is the case, we can validate our data.

Imagine another result. When we do the test with the last digit of the « Customer Id », we observe that for one of the numbers, the rate of clients who left is really higher than the average. This shows us that there is a problem in our data because it indicates an anomaly.

You can find other ways to verify your data by using other « insignificant variables » to see if the distribution is homogeneous. But be careful when you select an « insignificant variable » because there may be traps.

Here is an example. If you create a variable that takes the first letter of the first name, the distribution will not be homogeneous. The reason is simple, there are many more people who have a name that starts with the letter « M » than with the letter « Y ».

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

-Steph

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Work Effectively And Earn More (Part1)

work effectively

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

Everyone wants to work more efficiently to save time and make more money. There are 2 books to learn how to do this and I’m going to do a synthesis of 2. Maybe you already know theses 2 books, it’s « 4 Hours Workweek  » by Tim Ferriss  and « The One Minute Millionaire » by Mark Victor and Robert Allen.

Before you start, it’s important that you know that there is a special relationship between time and money. The idea is to better manage your time in your day to make your money work for you and make more money. There are several actions to put in place to do this and these actions based on 3 laws :

  • Leverage – Leverage gives you the speed to reach your goals faster. With a lever, you can control several elements. There are 5 types of leverage in 5 forms. We’ll see this in detail.

  • Pareto’s law.

  • Parkinson’s law

Lever

lever effect leverage

Let’s start with the leverage and its different points of support. There is a very interesting quote from Archimedes :

« Give me a place to stand, and a lever long enough and I will move the world »

Leverage allows you to reach your financial goals more easily and quickly. The higher the fulcrum is, the higher you can go up and far.

5 points of support

Money from others

Very useful in the real estate because the money of the banks and the tenant can allow you to have an additional income and a heritage. This heritage is largely financed by the money of others.

Skills of others

By meeting professionals who have more experience than you and mentors on your professional field, you can follow their examples. This allow you to access years of knowledge in a very short time, and avoid making mistakes that can cost you a lot of money and waste a lot of time.

Ideas of others

Find a partner who is willing to share ideas. For example to create your business instead of reinventing the wheel, you can join a franchise network to use and implement a business model that has been proven.

Time of others

Use the skills of someone who has more experience than you, by this way you can save. Delegate tasks.

Work of others

Support a team that is capable to manage things for you without you need to give last minutes instructions. Create a team with a list of instructions so that they are as autonomous as possible.

5 forms of support points

 

Mentors

Mentors are an incredible source of information. Select the people who inspire you from the people who have succeeded in the field you want to master.

Team

It’s known to many we can accomplish more than alone. A team makes it possible to work in synergy and to find solutions more quickly. Find people who have the same values as you and who have complementary skills.

One of the best example of a successful team is the team Steve Wozniak and Steve Jobs who together created Apple. Steve Wozniak is a computer genius, he created the first Apple computer, the Apple 1 and he largely created the Apple 2 that made the success of Apple. Steve Wozniak is a very nice person but at the time, he didn’t have the skills to sell these computers. Steve Jobs was a sales genius but he didn’t have the skills to create these computers.

Steve Wozniak and Steve Jobs separately have never been able to create something as impressive as Apple, the association of these 2 people who shared the same values and the desire to offer people computers easier to use have marked the history of computer with Apple.

Networks

The more professional relationships you have, the greater the leverage will be. Grow your network in the areas where you want to share and work.

Skills and tools

Having essential tools to reach the goal and mastering the operation of theses tools increase success. Skills to master are the power of persuasion, rhetoric and humor.

Systems

Using a good system increases the chances of success. To make money, there are millions of systems (there are so many on internet). The perfect system has 5 characteristics :

  1. No need to liquidity

  2. No risk or little

  3. Require no time

  4. Require no management

  5. Require little effort

The truth is that is very, very, very difficult to find an investment system that has these 5 characteristics, but you have to try to get as close as possible to work less and earn more money.

Pareto’s law

pareto law 20 80

Parkinson’s law or the 20/80’s law discovered by the economist and sociologist Vilfredo Pareto. This principle explains that 20% of the countries of the world share 80% of the wealth and that within these countries 20% of the people share 80% of the wealth. Here is the basis of this principle : « 80% of effects come from 20% of the causes », which means that a minimum of causes create a maximum of effects. Always try to identify in your actions or in your company, the 20% of actions which bring 80% of results.

Parkinson’s law

parkinson law time effort

Parkinson’s law discovered by historian and essayist Cyril Northcote Parkinson. This principle explain that the work extends so as to occupy the time available for the completion of a task. For example, if you put 2 hours to do a task that can be done in 1 hour, you still go for 2 hours. To have more time, we must force ourselves to have less. The basis of this principle is to do a task at 50% or 75% of the recommended time to do it.

In this section, we saw leverage, Pareto’s law and Parkinson’s law. In the 2nd part, we’ll see the 5 actions to be effective and the 4 actions to make more money.

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

-Steph

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Business Ideas From Abroad

world map drawing

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

It’s very interesting to be part of a group of entrepreneurs (mastermind or other) to see what they do in your country but also internationally. Being part of a group of entrepreneurs makes it possible to share good methods/techniques.

There is an extraordinary rewarding to be part of an entreprenarial group because there are people from all over the world. It’s true that often half of the people come from English speaking countries (United States, United Kingdom, Australia, Canada ) but there are many people from different continents and that is a phenomenal force.

It’s a bit complicated when you start your company and you’re in an international business group, but it’s interesting to know what’s happening in your industry in another country. To start, you can be part of a entrepreneurs group who speak the same language as you but who live in others cities and other countries.

Once you master a foreign languange, you may be interested in seeing what is happenig in other countries.

Case study

Imagine that you have a turtle shop. You sell turtles, turtle accessories and you have a turtle blog. It’s interesting to see what happens in English speaking or Spanish speaking countries. Tu vas sur Google.com (United States verision) , Google.ca (Canada version), Google.co.uk (United Kingdom version ), Google.com.mx (Mexico version), Google.com.ar (Argentina version), Google.com.co (Colombia version). You write keywords related to your professional field and you look at websites,forums, social media. You look at what competitors are doing, but in others areas.

Language

language diffrent language foreign

Despite the incredible progress of Google Translate or other translation tools, markets are very isolated. The majority of people are interested only in their own market and their own language. This is a shame because it means that good methods will be used in one country and these good methods will be completely hallucinating and innovative for another country. And because of that, there is a loss of knowledge because there is no exchange between countries, there is no transfer of knowledge.

We entrepreneurs, we are not artists. There is no point in saying : « I’ll be the first to invent the wheel ! ». Once the wheel has been invented, it’s done and you can’t do anything. On the other hand, you can bring the wheel in your country and improve the wheel to find other use with. There is no shame in seeing good ideas in other countries and bringing them to your country. It allows you to create opportunities.

It’s true that the first interesting market to see is United States. Often this country is 4-5 years ahead of other countries in several different areas. But beware, new countries that are very dynamic have interesting innovation like Bresil (Google.com.br)  or several countries in Africa like Nigeria (https://www.google.com.ng ), Angola (https://www.google.pt ), Algeria, South Africa (https://www.googl.co.za ) and Asia like China (a tool to translate Baidu in english => http://www.baiduinenglish.com ), Singapore (https://www.google.com.sg ), South Korea (https://www.google.co.kr ).

What I want to tell you is that there is a lot to learn from other countries in the world. You need do be curious and to meet entrepreneurs from other countries with an exchange of ideas or innovations to create opportunities.

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

-Steph

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