Category: entrepreneurship

books, charity, entrepreneurship, nonprofit, philanthropy, social entrepreneurship

The other 86%

Christa Avampato

“May you live in interesting times.” ~ Chinese proverb


Every week I am mystified by an IBM ad that consistently appears in Business Week. It’s part of their “Stop Talking Start Doing” campaign and in large bold type it predicts, “86% of the world population will live in emerging markets by 2050.” As a product developer, this is a fascinating statistic that will be critical to my future success. 


The majority of those who consume products I will create going forward will not be from my heritage, my culture, or raised in my country. Aside from the big four, known as the BRIC economies (Brazil, Russia, India, China), places such as Egypt, Mexico, Poland, South Africa, South Korea, and Turkey will becoming increasingly big players. And the companies that are succeeding and will continue to succeed are companies that most of us have never heard of: Concha y Toro, MISC, and Sasol.   

What is exciting for me is that these markets will demand a decent percentage of products that fall into the “extreme affordability” category, and this means that we may soon be coming into a time when social entrepreneurship will reign supreme over the activities of large multi-national corporations. If we pair that prediction with the closer relationship that has emerged between government and business, it becomes a perfect (good) storm for product developers like me who want to do well and do good at the same time. Nicholas Kristof, a New York Times Columnist, wrote his Christmas column about a recent book on this very subject. The book, Uncharitable, discusses the moral dilemma and possible solutions for nonprofits who find themselves in the midst of this struggle to bring in funds and do good in the world.  

What I think is a tremendous opportunity is the role that international nonprofits like UNICEF, Doctors Without Borders, and Mercy Corps can play. They have been working for decades in emerging markets. They can and should be a tremendous resource to entrepreneurs and start-ups looking to expand their business into those markets. These social entrepreneurs will provide better services and goods for the people they work so hard to help, and they can generate additional income streams for their organizations through a consulting practice on emerging markets. 

I recently viewed Steve Jobs’ 2005 commencement speech at Stanford. His message is that we can only connect the dots of our lives looking backward. In order to move forward, we have to trust our intuition, we have to have faith that we can build our own road, and we have to believe that the dots will connect eventually, somehow. I am beginning to finally see how the dots of my patchwork life and career will connect – through this field of social entrepreneurship that leverages all of my experiences, all of my education, and all of my contacts, passions, and beliefs. Indeed, we are in the midst of interesting times. 
 
business, entrepreneurship, health

Chance meetings you keep

Christa Avampato

Today I was feeling pretty badly. Sore throat, achy muscles, possibly a fever. But I had to go to work. I know I’m supposed to stay home when I’m sick. I couldn’t today – too much to do, no time to do it. Bad practice – yes. Avoidable – yes, if I had known I wouldn’t feel well and had brought my computer home. I didn’t. So I went in. 


And my sickness got worse throughout the day. My frustration and irritation was mounting.I hate being sick; I hate feeling sow and unproductive. Frankly, I just wanted to go home and crawl into bed. 

I had a meeting after work with an entrepreneur whom I greatly admire – Melanie Notkin who started savvyauntie.com. (If you haven’t checked out the site or signed up for the newsletter, I strongly encourage you to do so!) She wrote a post on her blog recently asking for interns. She wanted help, exactly the help that aligns with my experience and interests, to build her brand. I love social media; she loves social media and she needs someone to work on that part of her business. I almost cancelled our meeting, or at least postponed it. I didn’t feel well. I was tired. And frankly, I arrived home with a very bad attitude. How could I go talk to this bright-eyed entrepreneur with this dark cloud hanging over my head? I went any way – it’s rude to cancel last minute. And we were meeting at a Starbucks around the corner from my apartment. So I put on my best actor smile, decided to be in a good mood, and then was in a good mood. 

Thankfully I place a value on respect because I am thrilled that I didn’t cancel! I thought we’d meet for half an hour – we talked, non-stop for 2 and a half hours. By the end of our meeting I was on-board and excited about being an intern. An unpaid intern. Who would have thought? 
   
Turns out I was sick, though I had misdiagnosed the cause. I felt deflated all day today. With savvyauntie, Melanie explained what she needed, I explained what I was interested in, and we found a common ground. And wouldn’t you know it – my sore throat went away, my muscles ached less, and my bad attitude had evaporated. I feel more motivated for every area of my life. And I’m pretty jazzed about my new project. More to come… 

animals, business, entrepreneurship, environment, nature, relationships, Seth Godin

Lessons from an albatross

Christa Avampato


Seth Godin wrote a post today on his blog that made me pause and re-consider some questions I’ve been thinking about recently. He talked about the patience of the albatross. It can often sit in the water or on land for days waiting for the right wind to carry it up, up, and away. It can fly for days or weeks, non-stop, with a resting heart rate. It’s an incredible lesson in biology, with many applications to our lives. 


Seth talks about Albatross businesses – those that favor a long, slow ramp-up with an eye toward longevity. He promotes patience as more than a virtue – it’s a method of survival. And this is a good lesson not only for business, particularly entrepreneurial ventures, but also anything that is worth our personal time. This can be a personal relationship, a friendship, a hobby. I am thinking about it in the context of my writing and career and I hope these thoughts will help you think about this principle in the context of your own life. 

My writing: I started this blog on a whim about a year and a half ago. My friend, Stephen, said he liked my writing and hoped I’d continue doing it. I knew nothing about social media at the time. He suggested a blog. I googled the words “create blog”, Blogger came up as the top search engine return (no surprise since Google owns Blogger), and I put up a few posts that were copies of the newspaper articles I had written over the course of a year. I didn’t know what else to write about so I’d just jot down funny or interesting things that would happen to me throughout the day. And pretty soon, I was cranking along with a decent body of work. Over 400 posts to date. Where am I going with my blog? Not quite sure yet – but goodness am I enjoying the writing and it’s become a hobby I hope to continue throughout my life. At my friend, Anne’s, suggestion I am consider turning some of the posts into a collection of essays for publication on a more public scale. Just like the albatross, I’m searching for the right air current to launch a project like that.

My career: I’m 32 and have spent the better part of 10 years intensely studying human behavior and product and service development. I’ve cobbled together this beautiful tapestry of experience with that experience I have found a many colorful characters that have become my greatest treasure. Their collective diversity is a reflection of the many twists and turns my life has taken. I review the expertise I’ve built and the successes I can point to and wonder what’s next? Where do I go from here? How do I know what current to look for?

Part of the albatross equation is knowing where you want the current to carry you so you can quickly identify it when it comes your way. Extending your wings is the easy part. The challenge, and ultimately the reward, comes when you have taken a 360 look around from wherever you are now and determined the direction you need to go. The albatross doesn’t concern itself with the length of trip, his wings will carry him as far as they need to. He cares only about the destination. 

books, career, entrepreneurship, job

Ladies Who Launch

Christa Avampato

I am in the midst of reading the book Ladies Who Launch. It’s part guide book, part inspirational story collection for women interested in entrepreneurship. In the uncertain times we’re now in, I’m thinking a lot about diversification. Traditionally, we get a job, we work hard, and pay for life from the salary of that job. In times of recession, which just today economists officially figured out we’re in, there’s a lot of talk about the importance of diversity in our investment portfolios. But what about in the ways we take in money. Isn’t it safer, and perhaps even advantageous, to have multiple sources of income? Companies diversify their products and services. Shouldn’t we, as average earners and consumers, do the same?


This book is about helping women to think about launching as a continuous pursuit. And that launch can revolve around a business idea, a project (personal or professional), a relationship. It draws its strength from encouraging women to get out in the world and stay active. I was a little skeptical at first, though I put my best foot forward and dove into the book after reading so many good reviews. 

After making notes throughout the afternoon on Sunday and considering questions like “What do I want my typical day to look like?” and “What would I do if I had no limitations and boundaries of any kind?”, I noticed that my step was a little lighter today. The things that may have upset me on other days didn’t phase me at all. And I noticed that I was bolder than normal, speaking my mind and sharing my views of even the most staid and traditional ways of doing things. 

There really is magic in thinking about ourselves as the CEO of Me, Inc. To think of our lives in a constant state of launching. Oscar Wilde said, “We are all in the gutter, but some of us are looking at the stars.” While I don’t think of my life as “in the gutter”, I understand his point. We might feel down-trodden by the news of recession, by the political situation around the world, by the violence and sadness that stretches across the news waves these days. This idea of launching, of taking flight, has the ability to lift us up. It empowers us and allows us to retake control of our lives. The very thought of launching allows us to let what ails and pains us to fall away. We begin to look at the opportunities before us rather than the challenges. Or better yet, we suddenly become able to look at the challenges and launch opportunity from them.          
business, Business Week, dreams, entrepreneurship, happiness, risk, sports

Ice climbing and starting a business

Christa Avampato

Bill Buxton wrote a great post this morning on Business Week’s Innovation blog, http://www.businessweek.com/innovate/. In a conversation with his friend, Roger Martin from the Rotman School, the two friends discussed the parallels between starting a business and ice climbing. They compared the characteristic of people drawn to these two activities, specifically their appetite for risk.

The parallel drew out some interesting comparisons such as training, having the necessary tools and trusting in the process. I would also add that there is risk in everything – even in not doing something. We often consider the risk of starting a business, going ice climbing, etc. though we rarely mention the flip-side: how will our happiness, sense of satisfaction and accomplishment be affected long-term by deciding not do something that interests us?

Will we get to a point in our lives when these opportunities are no longer possible because of other choices we made, and then look back with some kind of regret and sadness that we didn’t do something more bold that made us feel alive? While more difficult to conceptualize and put data behind, the point merits some consideration. In the long-run, I’ve found it’s the chances we take, combined with the ones we let pass by, that make up a life.

See Buxton’s full post at: http://www.businessweek.com/innovate/content/mar2008/id20080312_205292.htm?chan=innovation_innovation+%2B+design_top+stories

career, entrepreneurship, gaming, job, social work, Steve Baer, technology, The Game Agency

The Game Agency

Christa Avampato

My good friend, Steve Baer, is a co-founder of The Game Agency, a company that seeks to improve the marketing and brand efforts of its clients by tapping the gaming community through original content. Steve is one of the most creative and hard-working people I know. He’s my go-to guy when I have a knew idea that needs an honest smell test. I am extraordinarily lucky to have him in my life, and feel honored that he was willing to have me interview him for this guest blog about how he started his own business. Drumroll please…

1.) Could you talk a bit about what motivated you and gave you the confidence to start your own company so soon out of business school?

It takes a fire in your belly to start a business and this is something I have been talking about doing ever since college. So, while I am only four years out of business school, my desire to build my own business has been 10+ years in the making. I come from a family who couldn’t work for other people. I don’t mean that in a negative way, it’s just that my parents and grandparents were entrepreneurs… from regional pharmacies, to national grocery chains to consulting firms to law firms. While it often easier to get a job with a company than to start your own business most people who strike out on their own have a direct example of a parent to look to and that definitely is the case within my family. Sometimes the motivation to start a new venture comes from having reached the top of the pile where you are, looking around, and saying, “What’s next?” The drive to build something new can also come from deciding that you’re stuck in the middle instead of at the top. Fear of stagnation can be a powerful motivator, especially if you have an idea for something that could be at least more interesting and potentially more lucrative. This was my situation. I am passionate about my business model and I tried to execute it for my former employer but they simply weren’t able to look beyond the way they did business for the past 30 years. So I said “it’s finally time to open up my own shop”.

2.) Of all of the industries out there, why did you choose to build your business around gaming?

In 2007 the U.S. video game industry experienced over 40% growth and achieved a record-shattering $17.94 billion in revenue. As the music industry declines and the movie industry stays stagnant the video game industry is growing leaps and bounds.

If you don’t know much about video games you might be thinking “how many games can men 18-34 really play?” Well, there’s definitely a limit but that’s not the only demo playing video games any more. The average gamer is 33 but gamers come in all shapes and sizes. 31% are under 18 years old, 44% are 18-49 years and 25% are 50+ years old. Interestingly enough, the fastest growing demographic of gamers is women 50+. If that’s not surprising maybe some of the facts and figures will be.

– 31% of children under 3 are already using a computer
– 78.1% of 6-11 year olds report they play online games – by far the largest percentage performing any online activity
– 8-10 year olds play interactive games for an average of 1½ hours per day- 9 out of the 10 most popular websites for boys 9–10 years, and 6 out of the 10 most popular websites for boys 11–12 years feature advergames
– Teens spend 7.4 hours per week playing games
– 62% of teenagers play games at least one hour a week and 34% play over 6 hours per week- Playing games is the number 1 computer activity for 8-18 year old, beating out IM and e-mail
– More than 25% of teens do more gaming than homework- 19% of men play games more than they watch television
– 50% of males play games more than they read books
– Women make up 50.4% of the online game market
– 41% of adult women are daily gamers, using it to relieve stress, increase skills and inspire social interaction
– Women over 40 spend more time gaming online than any other demographic –averaging 9.1 hrs / week – 35% of Senior Execs Play Casual Video games at Work

In short, every demographic is gaming and my company is focused on reaching each and every gamer with content that they would find interesting. Whether creating new intellectual property, developing branded games or increasing the reach of existing content our goal is to expand the footprint of the video game industry.

3.) Could you talk a bit about raising capital – how you went about it, what sources you looked into, why you decided to go the path you’ve gone when considering all of the capital raising options?

Starting a business is tough. You have to a write a business plan, build a client base, hire employees, find office space, etc. There are plenty of challenges, but the one that many entrepreneurs find most daunting is raising start-up capital. Fund raising has been one of the more educational steps over the past year. My partner and I have spoken with Banks, VCs, corporations, high net worth individuals, family, friends co-workers, etc about funding us. We received a few offers but non of them seemed quite right. Raising capital is a catch 22. Funding insures security but it reduces one’s equity. We’ve been told over and over again, our most tangible asset is our equity. So for the time being we have dug deep into our own pockets, hunkered down and started the battle to start up and stay alive.

4.) There’s a lot of talk about developing a business plan with any one of the cookie cutter models out there and having all of the answers before starting a business. For you, how important was it to have a solid business plan – a mission statement, a value prop, etc. – and to have all of the answers before diving in?

There’s no question that writing a business plan is a key step to starting a company. There are all sorts of models out there. My partner and I started off by buying a software program and typing away. In our first 6 months our plan changed 7 or 8 times. In retrospect it changed based on the desires of our prospective funders. Ultimately we returned to our original plan. While this was definitely a journey it showed that our initial concept, industry insights and mission statement were on target.

5.) There’s a lot of fear among entrepreneurship – figuring out taxes, building a client base, generating cash flow, leaving a job and a steady paycheck. Did you have any fear in starting your business and if so how did you overcome it?

Starting your own business is definitely a roller coaster ride but since taking the leap of faith I followed a few key steps.

No. 1 – Market and Sell – The more potential customers/clients you can find and sign up, the more money you will make. And more importantly, the more bills you can pay. You have to market and sell every way otherwise you will fail. Remember, nothing else in business matters except customers – paying customers. Not the best mouse-trap, not the best technology, not the smartest guys in the room, not intellectual property, only customers.

No. 2 – Have A Sense Of Urgency – Treat every day and every dime like it is your last, right at day one of opening your doors.

No. 3 – Take Nothing For Granted – Never take a potential sale for granted. When a potential customer or client says; “Let’s do the deal.” Don’t get overly excited right away.Don’t go out on a spending spree, start immediately paying bills, thinking that the check will soon be forthcoming. Only get excited after you receive the check.

No. 4 – Exercise Every Day – Starting and building a company from scratch takes a lot of energy. Entrepreneurs need to build some form of exercise, no matter how small every day.This is especially helpful when facing a problem. Some of my best solutions to problems came during short jogs around the neighborhood.

No. 5 – Stay Away From Negative People – Time is precious for new entrepreneurs. Don’t be around people who are negative and will try to bring you down. You still need to stay positive and optimistic.

No. 6 – Have A Daily Business Plan – In business, you have to know what you are doing and then do it. Having and executing your daily business plan will be your road map to success. It will force you to understand what you are doing and why you are doing it. Time is very precious for entrepreneurs.

No. 7 – Visualize Success – Entrepreneurs need to visualize success at all times, not failure. Your mind needs to know that although there will be many ups and downs, a light does exist at the end of the tunnel and it is bright. By visualizing success, your actions will become more confident. And increased confidence breeds success.

No. 8 – Remember The Alternative – You need to keep telling your mind, especially during the down times, why you are doing this in the first place. Remember, you are trying to create a better future for you and your family.

No. 9 – Maker sure your family is on board – Without the support of my partner’s and my wives we wouldn’t be doing this. It takes everyone’s encouragement. When you can’t be up the person next to you needs to be. Luckily my wife encourages me to follow my passions.

No. 10 – See No. 1 Again! – Starting a business from scratch, totally on a shoestring, is not for the faint of heart. Buckle in and get ready for one heck of an emotional roller coaster ride.

6.) Did you or do you encounter any naysayers when you talk about your business to others? If so, how do you deal with them?

Yes, Yes and Yes… It’s easy to find flaws and thank goodness for everyone that people have pointed out. Sometimes they are valid, sometimes they are way off but each piece of feedback helps us think and rethink our approach. I am open to any and all feedback.

career, entrepreneurship, Robert Scoble, technology, work

What Robert Scoble has to say about entrepreneurship

Christa Avampato

I am a big Robert Scoble fan. One, I admire the road he paved for bloggers by fearlessly and honestly blogging about his life at Microsoft while an employee there. I also admire his ability to constantly stay true to himself.

He recently announced that he took a position with Fast Company to run their video network dedicated to business. The network launches on March 3rd. Prior to accepting this post, Scoble considered starting his own business. And decided against it for a number of reasons. In short, when he thoght about what he loved – blogging, interviewing people, and his family – none of those things lined up with what it takes to be an entrepreneur.

This gave me pause as I am now considering embarking on the road to my own company. Please understand that I am a huge advocate for small business and for those who want to go it on their own. I am an even bigger advocate for following your heart, doing what you love, and finding a career that allows you to soar on your strengths. For many, that does mean starting their own companies. Though for others, it means they need to find a company that provides them an opportunity to capitalize on what they do best.

Entrepreneurship isn’t for everyone, and I wonder if so many new businesses fail because some people who start them don’t realize all they are getting into. Scoble’s advice and insight merit a read for anyone starting a business. To read his full post on the subject, visit http://scobleizer.com/2008/01/16/why-were-going-to-fastcompanytv/.