Monday, April 12, 2010

Entrepreneurship: Nature vs. Nurture

Entrepreneurship: Nature vs. Nurture

There has been a flurry of debate about this topic over the past few months. Vivek Wadwha’s post on TechCrunch resurrected this age old debate last month.

Since Vivek’s post, I have taken a considerable amount of time to reflect on what Vivek said before posting my own point of view. Mark Suster also recently wrote an insightful response, which is in contrast to Vivek’s, which inspired me to think much harder about this topic.

With the backdrop of the two posts above, here’s my point of view: I firmly believe entrepreneurship is 20% nature and 80% nurture.

It’s certainly agreeable that we are born with certain physical characteristics based on genetics – eyes, nose, arms, legs, etc. But the argument I struggle with in regard to if 80% of our inclination to become entrepreneurs comes from nature is: what about the theory of the tabula rasa – the blank slate? In addition, how do you explain the inner critic which resides in all of us?

I believe genetics simply provides us the blank slate, our minds are just barely hardwired when we’re born – free and open to interpretation of all which the world surrounds us with. Over time our mind starts to fill in or write on that blank slate based on the stimuli we acquire through experiences, both good and bad. As the frequency of experiences in our lives increases, there is a parallel influx of stimuli being presented to and processed by our brain. Thus, the more stimuli we are exposed to and react upon, the more “writing” that is placed on our slate.

This writing becomes the map which directs our brain muscle and formation, with an end goal of developing a baseline we can use for structuring our thoughts/reactions/interpretations toward an ever growing amount of stimuli. Said another way, these stimuli are presented to us through each experience we have in our daily lives and can be actions as simple as playing a sport, eating a certain food, reading a book or driving a car. Eventually, as time passes, our reactions to stimuli build upon one another, like a pyramid, forming a solid map for how our brain should hardwire itself. Eventually we end up with a solid conceptual framework which we leverage to interpret stimuli throughout the rest of our life.

An analogy: weightlifters drink protein shakes after every gym session because protein is the underlying nutrient to replenish the tears that the muscle has experienced from the stress of lifting weights. During our developmental years the muscle in our brain seeks direction on how to interpret the world – a baseline per se. Think of the writing being placed on the slate as a replenishing nutrient which our mind necessitates and seeks to absorb whenever possible. Over time, as those nutrients (stimuli) increase in frequency, our mind becomes stronger and stronger toward a certain interpretation of the world.

This leads to my point: once past your developmental years, which are a culmination of hundreds of thousands of experiences and stimuli, only then do you have a structure and framework for interpreting the world. Once you’re capable of interpreting the world, you are then able to form scalable mental thought patterns and a purpose for why you do what you do.

Said another way: nature simply provides the slate to write upon. Nurture throughout our developmental years is what actually writes on that slate, forms our personality and viewpoints of the world, and ultimately whether we’re going to be the next billionaire entrepreneur, award winning violinist or multinational expatriate.

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Stop At Nothing. Achieve Anything.

Gary Whitehill is the Founder of The Relentless Foundation and New York Entrepreneur Week (NYEW), both of which reflect his entrepreneurial drive and relentless energy.

In 2009, The Relentless Foundation inspired the creation of New York Entrepreneur Week (NYEW), an unprecedented gathering of entrepreneurs, from innovation-minded start-ups to multi-million dollar revenue generators who are given the chance to learn, connect and leverage opportunities to help drive economic change.

The Entrepreneur Week movement continues to grow, with events planned in more US cities and around the world.

Additionally, Gary believes kids should have the ability to create the world they want, and that those who are driven to achieve must also be given tools such as entrepreneurship to learn, grow and express themselves.

Gary supports people and companies invested in driving social and economic change.

Should an Entrepreneur Share Their Idea?

Should an Entrepreneur Share Their Idea?

Countless entrepreneurs are afraid to share their idea for a new product or service out of fear someone is going to steal it out from under them. This fear is not completely unfounded, but for most fledgling entrepreneurs, the fear is more of a roadblock than a protector.

There are millions of life changing successful business ideas in the minds of entrepreneurs all around the globe that never get to market because they are never shared and developed out of fear of being stolen. Like many things in life, ideas have a limited shelf life and timing is often everything.

As an entrepreneur, I am sure you have experienced this first hand. You have a great idea, but you do not act upon it, and a year or two later you see someone else has brought the same or similar product or service to market. If you are like most entrepreneurs, over the years you have or will have many ideas, but to make them successful you must either have the resources and skills to implement them or acquire the skills to bring it to market.

All ideas, no matter how good must be fleshed out and researched and unfortunately sometimes the only way to do this is to tell people about your concept. The fear that someone will steal the concept and create the business is a remote possibility at best. Ask any successful entrepreneur how much hard work, thought and planning goes into a successful business and they will tell you that an idea is just the starting point, there are countless hours of planning, research and most importantly execution which must take place to transform your idea from a cool thought into a successful business.

Does this mean you want to just freely tell everyone about your idea? Absolutely not, you should be selective with who you tell and how much detail you give them. Obviously if you are friends with the founders of YouTube, you do not want to tell them about a technology you are working on which will leap frog their application and leave them in the dust. But talking to your next door neighbor who is a successful IT consultant is a different story.

There are millions of life changing successful business ideas in the minds entrepreneurs all around the globe that never get to market because they are never shared and developed out of fear of being stolen.

So how do you start moving forward without losing the idea to someone else?

  1. Be Selective – about who you speak to and how much detail you give, make sure you know a little about the person with whom you are speaking. What is their industry? How long have you known them? Are they trustworthy? Most importantly, ask yourself why are you sharing information with them? What is the benefit to you? How can they help you further your idea and mission?
  2. Share Sparingly– only share what is needed to illicit the feedback or information you need.
  3. Protect Yourself- consider asking them to sign a Non-Disclosure/Non-Compete/Confidentiality Agreement which can spell out what the other party can or cannot do with the information you share with them. Standard versions of these forms are available on sites such as LegalZoom.

There are millions of ideas that are never implemented, yet there are ideas that have become million dollar businesses because the entrepreneur took a calculated and careful approach to sharing the idea and getting it out there. Collaborate and share strategically so you too can build your ideas into a viable business. Strategically sharing an idea is one of the cornerstones of creating connections where there once was none. I know many an entrepreneur who in the process of sharing their idea found a willing connector who was more than willing to make in introduction or two to help give some legs to the entrepreneurs ideas. Strategically sharing ideas is a cornerstone in preparing yourself and your business to be “connection ready.”

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About the Blogger:

Will Corrente is the well known connection optimizer and Founding Director of Corrente Consulting International Inc. (CCI). For over 20 years, Will has been creating process based solutions for small businesses and entrepreneurs to be connection ready and poised to reach the next level. Will is a regular featured columnist for New York Entrepreneur Week and the Bergen News, and blogs here. Subscribe to his free newsletter “Connection Ready” to receive the latest tips on how to connection optimize your business.

Meeting of the Big Minds (MBM) April 2010

Meeting of the Big Minds (MBM) April 2010

This past weekend I was fortunate enough to attend MBM. The retreat is the brainchild of Dan Lack, the visionary Founder of Pushing Beyond, out of Atlanta, GA. We were introduced by a mutual contact 8 months ago and since then sky has been the limit. In terms of attending MBM, Dan’s only qualification is quite simple – in his humble opinion you must be “one heck of a badass” (quoted word for word).

The retreat was three days (thurs-sun) and is held semi-annually in the middle of literally nowhere – Huntsville, TX. There is no internet and little time for phone calls, something most of us get anxiety just thinking about. The retreat brought together 16 rockstar entrepreneurs from around America who are each doing absolutely mind blowing things and crushing it beyond belief. If someone asked me to describe the retreat I would respond in 3 words: passion, inspiration, reality.

Hosted at a serene location, Fox Creek Ranch, the 20 room oasis has been in the Lack Family for three generations. Dan’s grandparents built the home as a sanctuary for his entire family and its extensions, which number above 60 folks. The ranch includes 300 acres of pristine wild land, rolling pastures, a large lake and (of course) cows.

When the retreat began I had absolutely no clue what to expect. I thought I would most likely acquire a few friends and relationships out of the experience and call it a day. However, to my gleeful surprise, by the end of MBM I can honestly say that in just 4 short days I gained a family of 8 extended brothers and 7 sisters who I would do anything for on this earth. Think about that for just a moment. And yes, MBM is just that darn powerful.

It’s actually very challenging to articulate my experience at MBM and what it meant to me. There were so many transformations – personally, professionally, emotionally and spiritually. In all honesty, MBM has been one of the highlights of my entire life to this point. It’s a bold statement and I truly mean every word.

The interesting thing about MBM is that there are other organizations throughout the country which try to replicate the MBM model. Guess what? I have been to many of them and know a plethora of folks who have attended all the rest. Hands down – nothing comes even remotely close to MBM. It’s simply unheard of for 18 entrepreneurs from all walks of life, living in 8 different states, working in 10 different industries, decide to come together at a secluded ranch to create real valuable, actionable and scalable connections for one another both personally and professionally.

MBM is invite only and spreads exclusively through word of mouth. With such a value add model, it’s no surprise that Dan amassed a rockstar list of folks who in a business context are driven and relentless toward success, but more importantly, were open, vulnerable and completely unselfish toward everyone else throughout the entire retreat. A few additional words to describe the journey I experienced over the 96 hour I was in Texas include: compelling, connected, eclectic, humorous, reality-altering, triumph, uplifting and zoned in.

Two activities were the main focus of the retreat:

  • MBM Spotlights: Each individual was given the undivided attention of the entire group for 19 minutes. This was our opportunity to share with the group a little about who we are: what we‘re currently working on, and how the group could lend us support.
  • MBM One-on-Ones: Spending quality time and having great one-on-one conversations with each person at the ranch. This was done by: sitting on the hammocks, running/walking the property, Bass and Catfish fishing, playing basketball and skeet shooting.

There were an abundance of memories I accumulated with each and every person above.

To Amber, Ben, Brian, Caroline, Dan, Erin, Garrett, Gina, Glenn, Haley, Ingrid, Keith, Lyn, Mike, Suzanne, Traci …. You are each genuinely gifted at your craft, humble in your pursuits of achieving success and astonishingly beautiful – both inside and out. Thank you for the opportunity to hear your insights, stories and viewpoints on the world. I will carry each conversation close to my heart as long as I live and look forward to seeing everyone during my nationwide tour in May.

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Stop At Nothing. Achieve Anything.

Gary Whitehill is the Founder of The Relentless Foundation and New York Entrepreneur Week (NYEW), both of which reflect his entrepreneurial drive and relentless energy.

In 2009, The Relentless Foundation inspired the creation of New York Entrepreneur Week (NYEW), an unprecedented gathering of entrepreneurs, from innovation-minded start-ups to multi-million dollar revenue generators who are given the chance to learn, connect and leverage opportunities to help drive economic change.

The Entrepreneur Week movement continues to grow, with events planned in more US cities and around the world.

Additionally, Gary believes kids should have the ability to create the world they want, and that those who are driven to achieve must also be given tools such as entrepreneurship to learn, grow and express themselves.

Gary supports people and companies invested in driving social and economic change.

Ari Meisel Supports NY Entrepreneur Week

Ari Meisel Supports NY Entrepreneur Week

By: Ari Meisel
Serial Entrepreneur
Founder of LEED Pro

Entrepreneur Week is a milestone achievement for me as an entrepreneur. I started my first company when I was 12 at a time when young entrepreneur had to work very hard just to get taken seriously, now we have people who become billionaires before they graduate college and entrepreneurship is not only accepted but is encouraged in people of all ages and backgrounds.

A week dedicated to Entrepreneurship is amazing to me and is a validation of the efforts of thousands of young entrepreneurs of the last generation. This country has seen a lot of recessions, and usually we get out some sort of ingenuity. I believe that entrepreneurship will be the future economic vehicle going forward and I also believe that green is one of the roads it will take towards the future.

Green is everywhere now from building materials, to energy sources, to household cleaning products. Whether people have realized that we need to do something to reverse the damage that has been done to the planet, or they’ve grown a greater social conscious, or they simply find the idea of cleaning their floor with a mop made from recycled soda bottles cool, everybody is interested in green.

In order to move forward in this environment you need to understand how green can and does affect your business and how you can use it to propel your business onward. Over the next week I hope to bring you a few key posts about what you can do to green your business, respond to your clients green needs, and enter green industries that may be entirely new to your business.

Green Building Doesn’t Have To Cost More

Green Building Doesn’t Have To Cost More

One of the biggest holdups people seem to have about making their buildings or homes green is that they have heard all sorts of rumors that green building costs a lot more. They assume that this is a rule rather than an exception and it’s simply not true. If you are smart about your material choices, design decisions, and contractor education, there is no reason why you can’t build a very green building to little or no premium over standard construction. People also don’t take into account that green buildings will cost less to operate and will command higher rents and overall value because they have been built green. Sometimes, going green can even save you money…

A perfect example is parking surfaces. Take for example an average 40 space parking lot where the convention would be to pour black asphalt, in the Mid-Atlantic region this should cost around $60,000. However, as far as green building goes, black asphalt is one of the worst surfaces you can have. Its soaks up heat during the day and releases it at night, which messes with the local ecosystem, it isn’t porous so stormwater can’t drain through it require large concrete drywells and filter systems, and it uses oil. Now as an alternative consider a product like Drivable Grass, as series of recycled concrete nubs held together by nylon tendrils. To star they contain recycled content, they can be laid down quickly and easily without any special tools and allow grass to freely grow between the nubs while easily supporting the weight of vehicles. They allow stormwater to freely drain through and the grass acts as a natural filter mechanism, the heat island effect is eliminated and it looks beautiful. It’s also less than half the cost of installing asphalt. This doesn’t even take into account that you no longer need big expensive drywells either.

By making smart material choices in green building, you can keep costs in line and still achieve your sustainable goals.

Ari Meisel | LEED AP
LEED Pro, LLC
T: 212.673.3027
F: 646.225.5275

Borne for the Biz: Why should we care?

Borne for the Biz: Why should we care?

By Landon David Chase

Everyday there are thousands, if not more, reports on just about anything in the world of business. From tech to healthcare, the oil crisis to insider trading scandal, we gain great insight into the business world through a distorted kaleidoscope of newspapers, television, and radio. The people who are mentioned, whether it be the Bernie Madoff’s of the world, to Steve Jobs, or even Warren Buffet; there’s an addictive nature to our general fascination. These people, these men and women, are entrepreneurs.How many people in this world are really entrepreneurial though? What is an entrepreneur? The textbook taught method of a university tries to define it as those who start new organizations as a response to new opportunity in the environment. It can be as simple as creating a new way to play videogames to catering to lazy college student’s inability to do laundry by offering a paid for service (a godsend to myself I must say). The term is thrown around so often that it almost seems impossible to not be a bit curious about who these people are.

In literature and film, you can trace the themes of entrepreneurship back for hundreds of years. Look at Shakespeare’s The Merchant’s of Venice. What is arguably an anti-semitic satire on Venetian culture quickly points out that Shylock is in fact a brilliant entrepreneur. Like other Jewish men in this time, Christians weren’t allowed to lend money, but the likes of Shylock were able to make the best of their non-Christian background by filling in a much needed gap (though it had severe social consequences).

Citizen Kane is another perfect example of our fascination with the business world. While not exactly as suave as Gordon Gekko, the man was brilliant and influential. His last breath of “Rosebud” creates a media frenzy of investigation, which leads Jerry Thompson on an almost epic odyssey to uncover the final word of this man’s life. The point is this: why on earth would anyone even care?

Ultimately, money aside, there’s a big part that affects the most common person. While many might not care if Microsoft or Apple go head to head, others realize when companies like thees strive to be the most “entrepreneurial” we benefit the most as consumers. These companies and the brilliant minds behind them tirelessly fight night and day to outwit and outdo the competition. As a result, we almost methodically end up needing to replace half of our electronics at the end of the shopping season every year now. My cell phone for instance gets an upgrade every six months because something much better (and shockingly cheaper) keeps coming out.

As a hopeful entrepreneur (and writer) I myself see many opportunities in the world at an early age. Being an entrepreneurship and emerging enterprises major in college I’ve entered my third year with a completed internship at a respectable entertainment website and have already started my own company, all at the age of 20. It seemed one minute I was just a kid in the big city and the next thing I know I’m in the Harvard Club with a few colleagues talking about future business plans. It’s a daunting and intimidating task. There is no real reason I even have to do these things, the funny part was that part of me just felt the need to do something. I don’t care about the money or the potential fame (as shocking as that might sound), but the possibility to make a legitimate name for myself. The very thought was quite enticing.

After watching my family do business in Connecticut for the last two decades, I know I was given an invaluable set of tools to take on the real world. It’s my lifeblood, a birthright if you will. A calling that subconsciously screams so loud that I can’t ignore it. Successful or not, I know I have to try. My grandpa David always said to honor three things; family, god, and charity. After seeing him as a renowned Holocaust survivor whose shadow I can only hope to cast one day as far as his does to me, I can see what he means.
Being an entrepreneur isn’t just about making money; it’s about being a person who takes on the responsibility as a role model in this society. While you can have all the money in the world, it means nothing if you don’t have anyone to share it with, have a God to thank for it, and have a hand to extend to those who need it the most. That to me is what being an entrepreneur is all about. We are fascinated with entrepreneurs because in all honesty, a lot of them are actually worth it.

With an opportunity such as NYEW I feel that we can all amass a new culture around what being an Entrepreneur is about. Instead of just being recognized as the elite of the business world or the billionaires of tomorrow, we can use it to network a group of people that can actually make a significant difference in the world. They say you can put a typewriter in a room full of monkeys and they’ll write Shakespeare. With those odds I’d love to see what happens when you do the same with the likes of Entrepreneurs.

Renewable Energy vs. Using Less Energy

Renewable Energy vs. Using Less Energy

Many people assume that when you are building green you need to have solar panels, which are very expensive, even after state and federal rebates. While it’s true that renewable energy technology is very innovative and green, I think it’s the wrong angle to attack the problem from. We should be focusing on making buildings more efficient so that they use less energy rather then figuring out an alternative way to meet their current energy needs.

A concept that is becoming ever more popular these days is the Passive House. These structures are so incredibly efficient that they don’t need any artificial heating or cooling. First off, they have a much higher level of insulation than standard construction. Typical walls will have an R-Value (the level of resistance to heat transfer) of 19, passive houses can have insulation up to R-50, and they tend to be better sealed as well so that less air leaks in or out. That’s great but then you have the issue of getting stale air out and fresh air in, and this is where these structures are really amazing. They use a technology called a Heat Recovery Ventilator. Essentially you have air inside that is at a standard room temperature. In cold months, the HRV pulls that stale air out and brings in fresh cold air from the outside, the two streams of air pass by each other, and then heat from the inside air is efficiently and almost completely transferred to the incoming air. The result is a building so efficient that body heat and even light bulbs can affect and regulate the temperature inside. This type of structure requires no alternative forms of energy and probably uses less energy then a single room of a typical house.

The assumed need for alternative energy is one of the reasons that people think green building has to cost more, while the passive house is an extreme case, it’s clear that if you look at the problem from the otherside, there are very smart ways to be more green.