Acceler8Success Cafe Tuesday 1.12.21

Hustling Entrepreneur Strives to Build an Empire Following the Footsteps of His Family

Michael Russo is the ultimate embodiment of a “hustler.” Growing up in a family of entrepreneurs, Michael was intrigued at how his father, both grandfathers, and uncles could make a living at their own pace. He aimed to achieve the same flexibility and have time in his hands. But unlike those before him in his family, Michael wanted to be the “new age entrepreneur,” tackling several industries simultaneously with tenacity and passion.

Michael saw the importance of hard work at an early age. Having seen his family strive in small businesses such as construction, automotive repair, and real estate, he wanted to explore the world of entrepreneurship with a bigger picture in mind. As a first-generation college student, Michael wanted to build a legacy that would honor the great men in his family. Read more.

Learn How to Start a Successful Side Hustle From This Business Executive, Investor, and Entrepreneur

In a year in which many businesses were forced to close temporarily and government assistance to small businesses was far from satisfactory, 2020 was a year to test ingenuity. For some, that means turning to a side hustle. There is no shortage of ways that people make extra money on the side, so if you have a skill-set, there’s a good chance you can turn it into more cash. Read more.

How To Hustle Your Way To Becoming A Successful Entrepreneur

If you’re working in corporate America, chances are you don’t love your job.

Gallup reports that only 29% of millennials are engaged at work, while the vast majority of workers are disconnected emotionally and behaviorally from their jobs. While 43% of millennials who leave their corporate jobs say it’s because they weren’t following their passion, 42% say the corporate lifestyle wasn’t for them, and 33% say they felt too restricted.

As one former corporate employee puts it, “I was compromising my life and compromising my purpose to achieve success. I was making all this money, but I had no time to spend it, no time to take care of myself, and no time to spend with my friends and family.” Read more.

Trends for Mexican Entrepreneurs to Maintain Digital Momentum in 2021

2020 will be framed as a “unique” year in history. While the year that just ended presented us with significant challenges in almost every aspect of our lives, it also tested our capacities and resilience in the face of adversity. For many, this year gave us the motivation to take the next step in our business.

During 2020, small business owners and entrepreneurs across Mexico were forced into a digital acceleration as more consumers began to use digital channels to make their purchases and stay connected to the outside world. These tough times created a window for businesses of all sizes to consider entering the digital world to reap its benefits in a new and somewhat uncertain economy. Read more.

Why Every Entrepreneur Needs to be Savvy in Digital Marketing in Order to Survive

Entrepreneurship has evolved. There used to be a time where you could open up a local business in town and turn a hefty profit with hard work, dedication, and financial management skills.

Today, your blood, sweat, and tears are not enough to keep your business afloat. You need to get familiar with the concepts of digital marketing if you want to survive. This holds true for all businesses across every industry. Read more.

What are Some Technological Challenges Entrepreneurs Face During Marketing?

It is no hidden fact that technology has significantly impacted every aspect of the business world. To be more precise, you may say technology disrupts every facet of the business realm; thus, consumers are getting distracted by digital media. The more intricately consumers get connected, the more problems it creates for entrepreneurs to entice them to become loyal to their products and services.

Most marketers and entrepreneurs were unprepared for this kind of technological onslaught; therefore, they are still struggling to reorganize their ventures to match up with the pace of technological advancement. There is no doubt that technology has become a driving factor in pushing your business forward. Still, at the same time, it is becoming highly competitive due to increasing interconnectedness, says Eric Dalius. Read more.

A Message from Acceler8Success Founder, Paul Segreto

Think different. Accelerate success by thinking so far outside the box that your ideas stand alone within a spotlight that causes people to question possibilities as if the idea, outlandish as it may appear could truly make such a significant positive impact that it would literally ‘force’ them to consider a whole new realm of possibilities. Are you open to possibilities, but don’t know where to start? Take a few minutes to watch this Apple video.

Acceler8Success Cafe Monday 1.11.20

7 Productivity Hacks from 7 Successful Entrepreneurs

Many successful entrepreneurs, including founders of multi-billion dollar companies, got to where they are through a combination of unique idea generation and hard work. Naturally, most of us aspire to achieve something similar—even if we can’t hope to replicate that scale.

That’s one reason why I like to read and discover some of the unique productivity hacks, habits, and behaviors that helped those successful entrepreneurs achieve their status. Read more.

Entrepreneurship is not about sitting around with a laptop and thinking about ideas; it’s about understanding risks and downside.

From law to VC to entrepreneurship, Liat Aaronson, former executive director of the Zell Entrepreneurship Program and co-founder of Horizen Labs, has explored a variety of unique industries and leadership roles throughout her career. Aaronson is an M&A lawyer by trade, and though she loved working through the challenges that the field presented, she soon developed a desire to find a position where she could leave a greater impact. After leaving the legal world, Aaronson joined the Zell Entrepreneurship Program team and helped talented young students transition into the professional world. Aaronson thoroughly enjoyed supporting and learning from the entrepreneurs she worked with and decided to further pursue her passion for entrepreneurship with Horizen Labs. Liat sat down for an interview with 20MinuteLeaders creator Michael Matias and told him about the knowledge she has amassed across various sectors and her plans of using her expertise to grow and scale her business. Read more.

How this 21-year old entrepreneur uses social media to revolutionize your business’ sales.

2020 has been filled with challenges and opportunities alike, with many ambitious entrepreneurs and businesses recognizing the niches begging to be filled with the increasing shift to digital trading and services. Though the demand for connectivity is great, not many of these ideas have the space or foundation to grow and thrive under these conditions. eGrowth Media, a UK based marketing agency, helps many established and developing businesses make the transition to the digital sphere, connecting brands to their audiences and increasing profits through through the effective use of social media tools. Read more.

Facts About Second Round of PPP Loans

First Time PPP Loan Borrower Requirements

Businesses in operation on February 15, 2020; sole proprietors, independent contractors, and other entities with less than 500 employee that qualify for other SBA 7(a) loans

Second Draw Borrower Qualifications

Loans up to $2M; less than 300 employees; have already used the full amount of their first PPP Loan; have experienced a revenue reduction in all or any one quarter of 2020 as compared to same time period in 2019

It should be a simple process but don’t delay or you may miss out. More Info.

What Movies Get Wrong about Entrepreneurs

Being an entrepreneur isn’t for everyone, especially those that might have ambitions to make money but don’t want to take the massive risks that some folks end up taking on a regular basis. But there are several things that the movies tend to get wrong about entrepreneurs that some people happen to think is correct simply because we like to think the worst about those that reach the top sometimes. It’s very true that some of these individuals might have shady pasts and have done a few things that are less than savory in the business sense, and are bereft of the morals that other people claim to value. But the trick here is that in business there are times when morals tend to get in the way when it comes to some folks and the desire to move ahead means cutting out those that might otherwise prove to be a hindrance to a company’s growth. The thing about being an entrepreneur however it doesn’t require a person to be morally bankrupt, and it certainly doesn’t mean that someone is going to be rich overnight. In a lot of ways the movies cut a number of things out and give us the drama and issues that can happen but aren’t always bound to happen. Read more.

A guide to rebuilding your small business for Latino entrepreneurs

The Covid-19 crisis has hit Latino small businesses particularly hard, including not being able to access PPP funding at a similar rate to other business owners. And many individual proprietors or small, family-owned businesses may feel the impact of Covid more directly, as the pandemic has disproportionately impacted the Latino community.

If you’re a Latino entrepreneur or small business owner, know that you’re not alone, and that there are tools, funding, and mentorship available to help you succeed through this crisis. Below, we’ve compiled a list of some essential tools that can help Latino small business owners rebuild and thrive. Read more.

A Message from Acceler8Success Founder, Paul Segreto

Regardless of challenging times it’s still necessary to get things done. So, act swiftly, act decisively, make it happen and make it count. That is the path to accelerate success. #Acceler8Success

Acceler8Success Cafe Weekend Edition 1.8.21

Female Entrepreneurship’s On The Rise—Will Funding Follow?

There’s no question the pandemic’s disproportionately affected women. Many hard-hit industries were over-indexed for female employees. And with few childcare options and extended remote schooling, millions more women have dropped out of the workforce to care for their kids.

But the pandemic’s disruptive effects have also led to a wave of entrepreneurial activity, as some have used newfound time—from lost or reduced work hours or time saved by no longer commuting to an office—to pursue business ideas. U.S. Census Bureau data shows applications for the employer identification numbers, which entrepreneurs need to start a business, have surpassed 3.2 million so far this year, compared with 2.7 million at the same point in 2019, according to reports. 

And many women are among them. A recent survey by the global women’s network, AllBright, found one in three women in the U.S. have plans to launch a business, 40 percent of them with the goal of gaining more autonomy and being their own boss. Read more.

7 New Year Strategies to Help Black Entrepreneurs Achieve Growth and Success in 2021

Of course, with COVID-19 in place last year, no one could have seen how individuals and small business owners could have navigated those unpredictable waters. But with last year gone, entrepreneurs can build on steps their peers just started taking or are now planning to apply to fuel growth this year. Those efforts include revamping business models, offering goods and services that meet customers’ demands, and staying resilient to flourish despite the ongoing pandemic.

Yet, one thing appears to remain certain: The way customers deal with businesses and how those firms interact with customers will most likely be different than in previous years. So here are some resolutions small business owners may do well to consider and implement this time. Read more.

39 Stats About Diversity In Entrepreneurship

When you think of a successful entrepreneur, what image comes to mind? Do you think of an individual of a certain age, gender, or ethnic background? If so, that could be due to implicit bias because research supports the significance of diversity in entrepreneurship.

According to research commissioned by American Express, four million new jobs and $981 billion in revenue could be added to the U.S. economy if the average revenue of women of color-owned businesses matched those of white women-owned businesses. Additionally, this study showed women-owned businesses are a source of new jobs in U.S. cities that experienced slow job growth between 2014 and 2019.

When people from diverse backgrounds and perspectives are building successful businesses to solve relevant problems there are significant economic advantages. For instance, in the Minneapolis metro alone, increasing the number of businesses owned by people of color could add as many as 87,000 new jobs to the region. Read more.

How Latino Entrepreneurs Can Boost the U.S. Economy

The number of Latino business owners has surged by 34 percent over the past decade, outpacing that of any other ethnic group. Yet despite that entrepreneurial vigor, Latino business owners face ongoing challenges, as their companies tend to remain smaller and less profitable than white-owned businesses.

And while Latino entrepreneurs fare better than the general Latino population when it comes to average income and homeownership rates, they still experience significant gaps relative to other groups in their rates of home ownership, health insurance coverage, and income. Read more.

SBA Releases New PPP Guidelines Designed To Buoy Small Businesses

As the U.S. continues to stare down economic and political turmoil, the SBA has released interim final guidance on the next round of the Paycheck Protection Program (PPP)—the vital relief program aimed at saving small businesses from shuttering.

While I am certain additional information and changes are forthcoming, my team and I are committed to ensuring this relief funding is accessible and the process is as easy as possible. If you’re a small business owner, now is the time to begin preparing your documentation and information. Read more.

The Economic Recovery Of Women Entrepreneurs Will Take More Than PPP Loans

While the Paycheck Protection Program (PPP) was intended to help small businesses hit hardest by the Covid-19 crisis—those owned by women and people of color—it failed to deliver on its promise. From the beginning of the program on April 3 to the end on August 8, struggling minority owners received aid later than their white counterparts, according to an analysis of the program’s data by the Associated Press. 

ZIP code data with the greatest proportions of white residents received loans at twice the rate of areas with the smallest proportions of whites. Data by gender is not available, but because women are more likely to be nonemployer firms and in sectors most impacted by the pandemic—personal services, retail, and restaurant—it is expected they would have experienced a similar pattern as ZIP codes with a lower concentration of whites. “Almost 60% of women business owners state they don’t have the same access to capital that men have,” said Candace Waterman, president and CEO of Women Impacting Public Policy (WIPP). It is the largest nonpartisan advocacy organization for women and minority entrepreneurs. Read more.

How to Go Full Entrepreneur in 2021

How can you take charge of your own future in the face of a long-running pandemic that has crushed economies, markets, businesses and lives?  Waiting is not going to cut it – waiting for more government stimulus, waiting for the virus to magically disappear, waiting for customers to suddenly come back. The most successful entrepreneurs are not sitting it out. This past year has seen an explosion of newly launched small businesses and startups. As the authors of The Entrepreneur’s Faces: How Makers, Visionaries and Outsiders Succeed, we’re not surprised. It’s not just first-time founders. We’ve also seen tremendous pivots by more traditional businesses, adapting on the run to seismic shifts in habits and behaviors that experts predict will outlast the pandemic. America has done this better and faster than nearly any other country. At heart what we are seeing is the value of innovative mindsets and practices. Ready or not, entirely new challenges will confront you in 2021. It’s time to go all-in, to go full entrepreneur. Read more.

Opening Up Entrepreneurship To All: The Resource Hub

Plenty of potential entrepreneurs have great business ideas but are held back in their pursuit of their goals by barriers: knowledge and resources kept out of reach of all but a few, as well as assumptions about who might be an entrepreneur and where they might come from. And while it’s understood that starting your own business is a tough road — particularly in the age of COVID, where many small businesses are struggling to stay afloat — it’s to the betterment of all that more people should have the tools available to them to try their hand at a startup.

Enter Nicole Loftus, the founder of The Resource Hub, a national directory for small businesses, as well as SkinX, a funding platform for entrepreneurs, both New York based. She’s working to help entrepreneurs succeed, including over 3,500 resources on the Resource Hub and adding new ones regularly. Read more.

Entrepreneurship Defined: What It Means to Be an Entrepreneur

The road to entrepreneurship is often a treacherous one filled with unexpected detours, roadblocks and dead ends. There are lots of sleepless nights, plans that don’t work out, funding that doesn’t come through and customers that never materialize. It can be so challenging to launch a business that it may make you wonder why anyone willingly sets out on such a path.

Despite all of these hardships, every year, thousands of entrepreneurs embark on this journey determined to bring their vision to fruition and fill a need they see in society. They open brick-and-mortar businesses, launch tech startups or bring a new product or service into the marketplace. Read more.

A Message from Acceler8Success Founder, Paul Segreto

Imagine the wave of emotions immigrants experienced as they saw the Statue of Liberty for the first time upon entering New York Harbor. Based upon hope for a new, better life ahead they were proud to be here, in the land of the free and home of the brave. Certainly, they wouldn’t forget their heritage but they were excited by the opportunities ahead of them, including that of becoming an American citizen without any notion of entitlement as they were committed to work their fingers to the bone to provide for their families and to achieve the American Dream! Yes, failure was not an option. It truly is amazing what they achieved despite poor living conditions, little to no food, and most did not speak English. Yet, they did what they had to do with no excuses and not only survived, but succeeded in so many ways. We, as a society will need similar attitude, determination and commitment as we move forward through and beyond pandemic-related challenges and hardships. God Bless America!