I hope you enjoyed some rest and relaxation over a very welcomed three day weekend – at least for many. Hopefully, the extra day helped settle minds some, considering all the negative news seemingly in our faces non-stop on TV, across social media, posted on billboards, etc.

It’s essential to our mental health to take a break here and there, and especially in light of economic uncertainty and challenges being caused by the same in our work lives. We must be able to work at our most effective level possible in order to navigate our businesses through these challenging times. Yesterday was a good reminder as it was World Mental Health Day.

As I was writing yesterday’s article, Dreams Are Always Worth Pursuing, and knowing it was World Mental Health Day, I started thinking about the effect dreams and goals may have on our mental health. Interestingly, I found quite a few articles about the topic.

One article addresses it as, Setting goals is an effective way to increase motivation and to help you to create the changes you want. It can be used to improve health and relationships, or improve productivity at work. Setting goals can also be an important step in the recovery from mental illness.

Dreams, which are often longer-term goals, would apply, as well. Of course, I’m not referring to dreams that occur during sleep. Instead, I’m referring to dreams of achievement, accomplishment, a positive outcome.

Another article I had found in my research confirms the role of dreams in mental health. Here is an excerpt from the article, Pursuing your dreams and staying positive can improve mental health:

The study, which was recently published in the Journal of Abnormal Psychology, surveyed more than 3,000 people in the United States over a period of 18 years, looking at their tendency of persisting for their goals, having a positive attitude when facing challenges, and self-mastery, that is, believing in one’s ability to fulfill their goals.

The study found that those individuals who indicated greater goal persistence and optimism at the beginning of the study had lower incidences of anxiety, depressive, and panic disorders throughout the study.

Working on persevering for their life-long goals and keeping a positive outlook can be two important tools in helping individuals build resiliency, gain success in their personal and professional lives, and ultimately improve their sense of well-being and fulfillment.

Reading through a number of articles with similar information stimulated some thoughts of my own on how dreams and goals could help entrepreneurs and business owners deal with mental health issues – of which we know both groups are highly susceptible.

It brought to mind an article I had written some time ago about dreams and goals. It was originally published in January 2010 but the similarities between the economic challenges faced in 2010 and today make the article, albeit with minor edits, very relevant today!

What Happened to Our Dreams and Goals?

I recently came across an interesting discussion in one of the LinkedIn groups that I found quite intriguing, and downright enjoyable to read. It wasn’t about franchising. Nothing about social media. There was no mention of business or entrepreneurship. Money or finances weren’t a major part of the equation. And, surprisingly, just a few mentions about current economic challenges. The discussion was actually about the concept of dreams and goals.

It was enlightening that there were well over one hundred responses in a relatively short period of time. Definitely a considerable amount when compared to other discussions within the same group. Often, the responses were being posted one right after the other. It seemed like people wanted to talk about their dreams and goals, almost as if they had been prohibited from doing so of late.

In light of the economic uncertainty surrounding us today, it seems the subject of dreams and goals has hibernated like a bear for winter. During good times, dreams and goals are out in the open, shared by many. Actually, bragged about by some, and the end results, often materialistic, flaunted by others.

It’s ironic that we’re taught that in order to achieve a goal, a key element in doing so is to enlist the assistance of people that can help us achieve the goal. Yet, in the current economic climate, discussions about dreams and goals have subsided, and have almost disappeared. It’s almost like we feel guilty to have such discussions at this time. Or, that we should just be thankful for what we have and dismiss our dreams and goals as frivolous.

What about the dreams and goals that are not financially driven or rewarding? Why have they been put on the back burner? Well, to all of this, I say “enough is enough.” Yes, enough of the poor me attitudes. Enough of the pity parties. And, enough of the social “rubbernecking.” (Social rubbernecking is when people excitedly talk about other people’s miseries – i.e., neighbor lost his job, their house was foreclosed on, he was having an affair – it’s just like slowing down to look at the horrific car wreck!)

NOW is definitely the time to put all the negatives aside and re-ignite the passion behind our dreams. It’s the perfect time to pull out those lists of goals and remember why we wrote them down in the first place. Why they’re important. How they’re important to people close to us. And how our lives would be positively affected upon achieving our goals and making our dreams come true.

Certainly, it’s time to face the realization that it’s up to us to make our dreams and goals a reality. They’re ours. We own them. No one can take them from us. To paraphrase a quote that I’ve seen many times (in many different forms) in discussions about success, “There are people that make things happen, some that watch things happen, and others that wonder what the hell happened?” Could you tell which group of people are most successful at achieving their goals and making their dreams come true?

And I’ll leave you with my favorite quote to ponder:

The best way to predict your future is to create it.

Have a great day. Make it happen. Make it count!

As today is Columbus Day, I woke up this morning recalling a particular Columbus Day when a good friend of mine and I decided to pursue a dream. I say, “pursue” with a chuckle in my mind as our dream was really just a wish that had no formidable plan behind it. Honestly, it was not even realistic or practical. Yet, we were committed to making our dream come true.

The days before the holiday when we would have the day off from school, we talked about what we were going to do that day… almost incessantly. Mind you, we were each 13 years old and freshman in high school. The year was 1971. Definitely simpler and more innocent times. Safer, as well.

Our goal was to meet girls from a European country at the United Nations! We would get up early and trek into Manhattan from Staten Island and visit the United Nations. Keep in mind, the U.N. was open to the public. I recall being able to sit in on meetings and listen in on the discussions as they were translated in real time. We did visit often.

Anyway, on this particular day our commitment to our dream was steadfast. As the activity at the U.N. would be extra busy due to it being a holiday weekend, we truly felt our dream would come true. Would it be girls from Hungary? Germany? Spain? Italian would be nice as we were both from Italian families.

On the Staten Island ferry, we talked about our “ dream” girls. We knew they’d most likely have dark hair. Of course, they would be pretty — correction, gorgeous. Exotic, too. At least in the minds of 13 year-olds, right? They’d be our age so we assumed they’d be dressed much like the girls we knew.

We even thought about their names. Olga, Heidi and Isabel are ones that I remember the most. If the girls were Italian, we just assumed their names would be similar to the girls in our families. Oh to have such naivety and innocence again!

Our dream was real. Yet, I don’t believe either one of us believed, truly believed our common dream would come true. I say that now as we really never discussed the what ifs or even the obstacles that now seemed so evident.

How would we talk with them with only elementary Spanish as our only foreign language skillset? As the girls would most likely be with their families, how would we even be able to approach them? What would be the likelihood of two girls together with both being our age? And if we did get past these hurdles, where would we take the girls? Especially, since neither of us had more than five dollars in our pockets!

The dream was just the possibility, as remote as it might be of actually meeting these girls and truth be told, even just an exchange of smiles would have been considered a success.

We spent the day at the U.N. We sat in on various meetings. We saw who we knew to be foreign dignitaries and ambassadors by their clothes, some traditional to their country, and their name badges, many with names we couldn’t even begin to pronounce. We marveled at the formality of it all. And the flags both inside and outside the building!

Our dream may not have come true that day, but I will never forget that splendid day, a dream in and of itself. I’m thankful that we pursued our dream as how many other dreams are remembered and still bring a smile to our faces after fifty years?

Have a great day. Make it happen. Make it count! And may all your dreams come true!

As I had previously mentioned, Sundays at Acceler8Success Cafe are now focused on providing motivation and inspiration for the week ahead. My goal is to provide a positive foundation for the week that will complement the weekday activities at Acceler8Success Cafe. My intent is to do so as an extension of my commitment to helping current and aspiring entrepreneurs achieve and accelerate their success.

It’s important not to start the week with thoughts about anything negative that may have occurred last week or even last month. Those doors are closed. It’s important to focus on the here and now, lest we run the risk of missing possibilities – ones that may actually turn out to be opportunities.

Plus, if we focus on positive things, we’ll be surprised by how many additional positive things will start appearing in our life. We must be prepared to act accordingly in order to capitalize on the positives that may appear, and as they often seem to appear… when we least expect it.

After all, as NCAA Coaching Great, John Wooden said, “Confidence comes from being prepared.” And, Seneca, a major philosophical figure of the Roman Imperial Period once said, “Luck is what happens when preparation meets opportunity.” I’m sure most will agree, these quotes do make sense. Do you agree? Do you feel lucky?

One more thought for the week ahead, and this is a message for YOU!

Be proactive. Do not sit back and just wait for that next opportunity. Look for it. Explore possibilities with an open mind. Create your own luck by being prepared. Attend a few meetings in your area and network, network, network – every single day this week!

Have a great week ahead. Make it happen. Make it count!

Back in 2009 while in the midst of an uncertain economy, and a few times thereafter, I have shared this article and inspirational video. Almost every time I’ve done so I’ve heard from individuals thanking me and letting me know that it had helped them cope with difficult times.

Recently, I heard from someone who reminded me of the original post and how much it meant to him back then and how he often refers to it when facing a current challenge. It made me think about how it might help others today as we’re once again experiencing economic uncertainty. Here’s hoping that sharing it once again may help a few more that may need some inspiration and hope that tomorrow will be better than yesterday.

Life is Like a Cup of Coffee

As one might imagine, I spend a great deal of time seeking out articles and information that may be of interest to the franchise industry, and readers of this site. Most of the time I’m looking for things relevant to franchising, entrepreneurship and small business.

Recently, I came across an inspirational video, “Life is Like a Cup of Coffee.” I watched the video several times, as I’m sure most of the people that have already seen this video have done. The message conveyed by the video made me think long and hard about the current economy and how it might be affecting people within the franchise community.

I thought about the franchise executives, who may be wondering when and where they’ll work next. Or the entrepreneurs who invested large amounts of money developing new franchise systems, only to find themselves anxiously waiting for credit markets to ease up just a bit. And I could not help thinking about the many franchisees, with life savings invested, watching their personal lifestyles drastically change, as they try to squeeze dollars out of cents.

This video provides a simple, yet profound look at life that may shed light on how challenges being faced today need to be addressed, and hopefully, resolved. Maybe, just maybe, it can be looked at as the simple approach to tackle complex problems. And I’ve asked myself if it could really be instrumental in making people look at things differently and provide hope, where hope was not even considered before.

I know that hope is not a sound business strategy, but neither is waiting. At least with hope, it may provide inspiration to do things that may help in turning things around.

Anyway, take a look at the video and give this some thought. Then, please share it with your family and friends and request they share it with people they know. If we can ultimately help just one person, or just one family, we will have made progress. Progress that’s necessary to survive this rough economic storm.

When Life Knocks You Down

A conversation the other day had me thinking long and hard about this quote. Sometimes it’s easier said than done, but it’s always possible to get back up. Honestly, I should practice what I preach. Well, not so much to get back up, but to do so quickly and without leaning on excuses. Even if there are justifiable reasons, they’re still excuses. I should know better. I do know better. So, from me to you, here are my thoughts on getting back up after being knocked down by life.

When life knocks you down, you MUST get back up. Always!

Often, it’s quick to jump right up on your feet. Other times it takes getting up on one knee and pulling yourself up, sometimes holding onto something, but all the while progressing to an upright position. And yes, there are times you’ll actually stumble and fall back down, but you must push again to get back up.

An unforeseen weight causes you to fall down and is making it difficult to get back up? Find a way to push it aside. Dig deep inside for extra strength, for the will to get out from under it, crawling out if you must.

When all is said and done, you must get back up. You can do it. You must do it.

Now, I’m thinking about what I believe is one of the greatest motivational and inspirational speeches in movie history. The speech I’m referring to is by Rocky Balboa to his son… I believe that anyone that has seen the movie, Rocky Balboa will remember the speech but whether you do or not, take a minute or two to read through the words below:

“Let me tell you something you already know. The world ain’t all sunshine and rainbows. It’s a very mean and nasty place and I don’t care how tough you are it will beat you to your knees and keep you there permanently if you let it. You, me, or nobody is gonna hit as hard as life. But it ain’t about how hard ya hit. It’s about how hard you can get hit and keep moving forward. How much you can take and keep moving forward. That’s how winning is done! Now if you know what you’re worth then go out and get what you’re worth. But ya gotta be willing to take the hits, and not pointing fingers saying you ain’t where you wanna be because of him, or her, or anybody! Cowards do that and that ain’t you! You’re better than that! I’m always gonna love you no matter what. No matter what happens. You’re my son and you’re my blood. You’re the best thing in my life. But until you start believing in yourself, ya ain’t gonna have a life.”

Watch the video HERE

Have a great weekend. Make it happen. Make it count!

In order to understand the grey area between success and failure, let’s take a look at the definition of both words as defined by Merriam-Webster:

Success: degree or measure of succeeding; favorable or desired outcome; the attainment of wealth, favor, or eminence.

Oddly enough, failure is defined in more ways than success!

Failure: omission of occurrence or performance; a state of inability to perform a normal function; an abrupt cessation of normal functioning; a fracturing or giving way under stress; lack of success; a falling short; one that has failed.

Entrepreneurial Success & Failure

IGI Global, publisher of Timely Knowledge lists entrepreneurial success as the individual entrepreneur’s distinct understanding and appraisal of the accomplishment of standards that are personally crucial to him/her.

Again, there is much more information about failure than success. In addition, the information about entrepreneurial failure is also more complex than anything I have found about entrepreneurial success.

For example: Entrepreneurial Failure: A Synthesis and Conceptual Framework of its Effects is an article I found at Wiley Online Library. This information shared in this article was far more complex than anything I’ve research on entrepreneurs and success. Why is that? Why is failure looked at more as a science and theory than success?

As noted above, the definition of entrepreneurial success is quite simple – one sentence touching on several key points. Is success that simple? Of course not. Yet, that’s how entrepreneurial success is typically defined. If more information is desired, it’s typically shared through a very small number of entrepreneurs by way of a book – biography or autobiography.

The abstract of the article referenced above is as follows:

Failure is not the outcome which entrepreneurs strive for when they start their businesses. However, thousands of entrepreneurs fail each year, experiencing painful and damaging consequences in their professional and private lives. Current knowledge on entrepreneurial failure is quite fragmentary. Our study aims at integrating knowledge on the effects of entrepreneurial failure. Departing from a systematic literature review, we develop a multilevel framework of entrepreneurial failure effects which categories: (1) their manifestations over time; (2) the directness of the link to the failure event; (3) the degree of impact on the failed entrepreneur; and (4) the level of long-term outcomes generated. Our findings reveal a broad scope of multilevel impacts of entrepreneurial failure.

The article goes on to discuss entrepreneurial failure as, a phenomenon, and part of the entrepreneurship process which is an individual undertaking . It defines entrepreneurial failure as ‘a psycho-economic phenomenon characterized by the entry of an organization into a spiral of underperformance (e.g., insolvency) and thus the entrepreneur’s entry into a psychological state of disappointment’ caused by ‘not achieving entrepreneur’s expectations (e.g., insufficient current return, no growth expectation, poor efficiency, innovation that is too slow, etc.) in contrast to personal reasons’. Furthermore, entrepreneurial failure is considered as a process covering three main phases: causes, event, and effects.

My mind was spinning as I read article after article explaining, not defining the many, many reasons behind entrepreneurial failure. It had me questioning, why would anyone want to be an entrepreneur?

It’s 4:30 AM and the internal alarm clock triggers the entrepreneur’s eyes to pop wide open as if an explosion had been heard close by. Without nary a thought of needing another hour or two of sleep, or even a thought about what day it is, the day begins for the entrepreneur.

You see, an entrepreneur’s mind immediately kicks into ‘business mode’ with a flurry of thoughts and questions firing away like short, rapid bursts, one right after the other without pause. This continues through whatever is a typical morning routine. It is a productive time as many ideas find their way through right up until the mental fog dissipates.

Seemingly, as the second or third cup of coffee is finished, self-motivation kicks in with a reveille-type ‘let’s do this’ announcement. Albeit it’s one that no one else hears. Often, this charge ahead moment feels like leading the charge into battle, only to sprint a few yards onto the battlefield when the reality of the moment kicks in – there’s no one else around, there’s no one but the entrepreneur on the battlefield, despite the sound of guns and cannons close by. It’s a frightening moment. It’s a lonely moment. And it’s a frustrating moment.

What’s frustrating is despite unparalleled commitment and extreme effort, challenges remain. Correction – the SAME challenges remain. The same ones that are addressed day after day, without change. The same ones that are written weekly at the top of the priority list as if a motivation point, yet often viewed as to-do items that never seems to get done.

Ironic is the fact that these challenges are preventing success. Other things are addressed during the day, week, and month. After all, there are deliverables to produce. There are calls scheduled. There are meetings. Conferences. There are so many things to do!!! It’s exhausting. A question comes to mind. The same question asked repeatedly over the past year, but more often of late as frustration seems to be mounting. Why go on?

I’ve asked that question of myself so many times that it clearly is a broken record. Yet, one that continues to play. I know all too well that a successful entrepreneur is one who knows that ideas are not enough. It takes action to make the ideas work. To make them a reality. And especially when failure is not an option.

Sure, I could easily go down the path here of spewing out quote after quote – persist until you succeed, winners never quit, etc. But the real motivation is thinking about one’s own WHY. Yes, that’s motivation but it’s not the answer. It brings to mind that being busy is not necessarily being productive. Being productive means achieving results and in order to do so, definitive action must be taken.

Of course, I know all too well that there are the orders of the day – deliverables, meetings, calls, etc. but what I’ve done of late, is to shift from 80% focusing on order of the day to 80% focusing on the top priorities. In order to do so, it also meant prioritizing the priority items!

My tipping point was when I realized that my ‘priorities’ had turned into a long laundry list. Many were not even priorities, just items that required attention. I’ve found myself making lists for the sake of making lists. It made me feel I was being productive and getting things done. Yes, I was sorely mistaken. I thought about the infamous quote, “Insanity Is Doing the Same Thing Over and Over Again – but Expecting Different Results.”

Believing that I’m not insane, I knew I had to shift gears and refocus my efforts, my attention to the things I know will make a difference. Funny thing… They are the ones I’m most passionate about, the ones that will generate significant revenue, and ones that will make a significant difference in the lives of others – all the stakeholders in my life including my family, my partner, his family, our clients, their families, and even people we’ve yet to meet.

So, why go on? Well, that’s easy to answer. It’s because an entrepreneur cannot stop being an entrepreneur. An entrepreneur does not go off into the sunset. An entrepreneur does not quit.

An entrepreneur doesn’t decide to take the easy path. But still, an entrepreneur MUST realize, understand, and focus on true priorities – the ones that will make a difference, and especially to those that depend upon us!

I’ve realized, entrepreneurship is a balancing act between success and failure with failure being an integral component of entrepreneurial success. To me, that’s the best way to define entrepreneurial success AND entrepreneurial failure. After all, it is a process that builds upon both success, and yes, failure.

Have a great day. Make it happen. Make it count!

Quite often, and again yesterday I’ve been asked about the Acceler8Success mantra – Act swiftly. Act decisively. Make it happen. Make it count! Apparently, there’s some confusion as to what it actually means and how it has anything to do with succeeding.

Always excited to talk about our process, I explain that acting swiftly and decisively does not mean to throw caution to the wind or to make a rash or abrupt decision. Being prepared is essential when working toward a goal. So is due diligence, understanding the lay of the land, realizing potential consequences of actions to be taken, and thinking through the what ifs.

Think about the big cats. Whether it be a tiger, lion, jaguar, leopard, snow leopard, cheetah or cougar, their instincts, combined with skills enable them to succeed. Instinct is something that all are born with, while skills are developed over time. The two together make for a lethal force practiced again and again. Essentially, it’s the big cats’ education, the preparation for survival.

From a human perspective, we all have instincts – some more acute than others. Over time, those instincts are honed by developing skills to complement and enhance instincts. Entrepreneurs are cases in point.

Actually, most anyone considering entrepreneurship have some semblance to others with an entrepreneurial mindset. Of course, all have a unique mix of instinct and skill – some better than others. Thus, some succeed at a higher rate despite starting out with similar traits and abilities.

Just as big cats are educated by its parents, they’re also self-educated by practicing their skills over and over again. Their instincts minimize their failure rates, but still the process is mostly trial and error. However, their motivation remains in tact – they must succeed in order to survive. I’m sure all will agree, survival is a very strong motivation.

And, just like the big cat, in order to survive, entrepreneurs must rely on eating what they kill. In fact, in entrepreneurial circles from Silicon Valley to Wall Street, the phrase “Eat what you kill” has taken on a metaphorical meaning: Don’t rely on an hourly wage for protection. Instead, survive on your business successes alone.

With instincts fine-tuned and skills having been developed, the big cat goes on the prowl for their next meal, and as such, their next set of challenges. This is when the big cat does its form of due diligence.

It scopes out its prey. Once a potential goal is in sight, it evaluates the lay of the land – What’s between the big cat and its prey? Where can the prey run? Where should the big cat direct the prey toward to make the capture easier?

Consequences are also evaluated. Are there other predators insight? Are they part of a larger group? If the prey is caught, how will other predators be prevented from taking it?

The big cat is ready. Let the stalking begin…

Is it any different for an entrepreneur as he/she explores possibilities and flushes out opportunities, all for the sake of achieving one’s goals and objectives? The entrepreneur’s due diligence is essential to his/her success. There can never be too much due diligence provided perfection over progression doesn’t set in. Worse still is procrastination.

So, here’s where the Acceler8Success mantra kicks in. With preparation and due diligence in place, it’s time to act. And just as the big cat is ready to attack in a split-second, with full confidence it will achieve its goal, the entrepreneur must act swiftly and decisively, and without hesitation or trepidation. He/she must make it happen, AND make it count!

Are you an entrepreneur looking to take things to the next level, or an aspiring entrepreneur considering [finally] taking action to move you toward your goals. If either is the case, I’ll leave you with the following:

Do you have the self confidence to succeed? Do you believe in yourself enough to ignore those who do not have your best interests at heart? Do you have commitment in your decisions that you don’t need approval or praise from others?

The quote above may have more relevance today than ever before. Yet, there’s more trepidation than ever before to leave what’s presumed to be a safe, secure space.

Whether deciding to start or buy a business, to expand a business, or even to change jobs and/or move to another city, fear of the unknown is an extremely heavy obstacle to move. Combined with procrastination in researching and educating one’s self of possibilities and opportunities, the obstacle appears to get heavier by the minute.

Only with full commitment to achieving a goal can the obstacle be challenged, navigated or moved. It’s not as impossible as it seems, provided commitments extends to preparation and due diligence, and to developing and honing the skills necessary to succeed. Once all are in place, key to success is to act swiftly and decisively, and to making it happen, and making it count.

Making it count is the ultimate achievement as it addresses the Why that drives the entrepreneur’s mindset just the same as the big cat’s Why of survival for another day.

Have a great day. Make it happen. Make it count!

As Texas continues to knock it out of the park with job growth, corporate relocations, and a pro-business environment, the Lone Star State continues to be a hotbed for entrepreneurship including startups, franchising, and business acquisitions. Acceler8Success Group is Texas-based, so we’re excited to double down on our commitment and efforts to shed even more light on the opportunities available to Hispanics throughout Texas.

After all, according to the 2021 American Community Survey, there are an estimated 11.86 million Hispanic Texans who comprise 40.2 percent of the state’s population. We’re proud to be able to help every one of them achieve the American Dream of business ownership.

To that end, Erik Premont, President of Acceler8Success Group will again be participating in panel discussions to increase awareness of the opportunities and benefits that franchises represent for Hispanic Entrepreneurs. The discussion is part of Franchise Expo Houston produced by MFV Expositions and sponsored by the International Franchise Association.

These efforts also complement our relationship with Michael Dermer and The Lonely Entrepreneur. The project we’ve been working on together, The Hispanic Entrepreneur Initiative is certainly of major interest to Acceler8Success Group as we continue to build upon a growing list of clients from Mexico and Latin America whose interests are focused on entrepreneurial opportunities within the State of Texas and throughout the U.S.

With Hispanic Heritage Month continuing through October 15th, it’s the perfect time to once again share the following information about the Hispanic Entrepreneur Initiative. Please share with anyone whom you believe would be interested in the initiative. It’d be greatly appreciated by all of us at Acceler8Success Group and at The Lonely Entrepreneur. Thank you!

Hispanic Entrepreneur Initiative

With a goal of empowering 100,000 Hispanic entrepreneurs, Hispanic entrepreneurs will be provided with free access to The Lonely Entrepreneur Learning Community – a one stop shop for the knowledge, tools and support an individual needs to start or grow a business. This access is provided free due to the financial contributions of corporations, philanthropies, individuals, and economic development organizations. 

Supporters include UPS, Microsoft, US Hispanic Chamber of Commerce, HISPA and Molson Coors and the initiative has been endorsed by over 50 Hispanic leaders including: 

• Dr. Juan Andrade, Jr. (President, US Hispanic Leadership Institute, Recipient – Presidential Citizen’s Medal) 
• Luis Ubinas (Investor, Entrepreneur, Past President – Ford Foundation, Past President – Pan American Development Foundation)  
• Dr. Loui Olivas (Professor Emeriti, W.P. Carey School of Business At Arizona State University)  

The challenges for entrepreneurs in general are great. The challenges for Hispanic entrepreneurs are even greater. And there isn’t just one “Hispanic” entrepreneur – there are entrepreneurs from various countries that face some of the same – but some different – challenges and opportunities.

In addition to lack of access to capital, many Hispanic entrepreneurs possess passion and great ideas but lack access to the knowledge and support they need to succeed.

With the help from corporations, philanthropies, individuals, and economic development organizations, the Hispanic Entrepreneur Initiative will change that by putting the tools in the hands of 100,000 Hispanic entrepreneurs.

How it Works

In this initiative, organizations sponsor a certain number of Hispanic entrepreneurs who receive free access to The Lonely Entrepreneur Learning Community – a one stop shop for the knowledge, tools and support a current or aspiring Hispanic entrepreneur needs to start or grow a business. The platform addresses both the business and personal issues Hispanic entrepreneurs face and provides multiple ways for Hispanic entrepreneurs to get the answers they need:

• Knowledge: 500 learning modules that cover both the business and personal issues entrepreneurs face including issues Hispanic entrepreneurs face

• Tools: 100s of templates (e.g., business plans, legal agreements) and reviews of the top vendors and solution providers they need (e.g., accounting software) including Ongoing Support via Two Channels: multiple ways to solve their pressing challenges, Guidance from the TLE Team in Our Community: where entrepreneurs can ask questions and get answers from members of the TLE Team, Group Coaching: entrepreneurs can sign up for an unlimited number of group coaching sessions on the various business and personal issues they face. If they miss sessions, recordings are available for future reference at any time.

• Funding Sources: 150+ funding sources available for entrepreneurs

• Vendors: 50+ vendor reviews, discounts and a list of “vetted vendors” (including some free resources)

• Procurement Opportunities: 150+ opportunities made available by large organizations

• Business and Personal Issues: our program not only covers business issues, but all the personal issues entrepreneurs face (dealing with stress, ego and humility, leading)

• Daily Perspective: an entrepreneurial “tip” sent to every individual each day

• Access: 24/7 access from any desktop or mobile device

Having the Learning Community at every step of the journey significantly increases their chance of success.

The Needs of Different Hispanic Entrepreneurs

There isn’t just one “Hispanic” entrepreneur. There are native born and immigrant entrepreneurs from various countries that face some of the same – but some different – challenges and opportunities. In addition to providing answers for the issues facing all Hispanic entrepreneurs, the initiative addresses the issues and opportunities faced by the different Hispanic entrepreneurs, including entrepreneurs from: Mexico, Puerto Rico, Brazil, Colombia, Argentina, Venezuela, Guatemala, Cuba, Chile, Spain, El Salvador, and Peru.

Program Supporters

The initiative has gotten off to a fast start with programs launched by major corporations including:

• Microsoft empowering Hispanic entrepreneurs in El Paso Texas as reported in El Diario Mx and on television

• UPS launching its program at the L’Attitude 2021 conference to empower Hispanic entrepreneurs

• US Hispanic Chamber of Commerce

Benefits of the Program

There are multiple benefits to the program:

• Help Entrepreneurs: provide individuals with the knowledge, tools and support they need

• Proven Success: the program has been implemented successfully by a vast array of corporations, governments and charitable organizations

• Scalability: the ability to put the tools in the hands of a large number of individuals quickly

• Branding: various elements of the program would be branded including landing pages, access to the leaning assets and a group in the online community.

• Minimal Effort on Your Part: the program is turn-key and is executed with minimal lift on your part

• Turn-Key Execution: you are investing in a program that delivers turn-key execution

• Marketing Opportunities: making a program like this available and the success stories that come from it are powerful marketing opportunities

• Flexibility: to apply to the specific type, geography or group of entrepreneurs

• Measurement: the ability to measure activity and impact of the program

The program provides the opportunity to quickly get tools in the hands of a large number of current and aspiring small business owners.

Integrated Marketing to Highlight Impact

The TLE Team works with supporter marketing teams to maximize the impact on their public image:

• Public Relations: coordinated communications with media outlets to highlight supporter efforts

• Social Media: ongoing social media activities to show the impact supporter is having

• Success Stories: to be used in marketing and to inspire supporter audiences

Endorsements from Leaders

A coalition of stewards of the Hispanic community have endorsed the Hispanic Entrepreneur Initiative:

• Yvette Donado (former Chief Diversity Officer of ETS; Hispanic Magazine, 50 Most Influential Hispanics)

• Marcel Portmann (Latin America Advisor for +70 global brands; liaison to Inter-American Development Bank (IADB); former Vice President of Emerging Markets, International Franchise)

• Dr. Pilar Nava-Parada, (Philanthropist and Leader For Women Entrepreneurs with Mexican Origin)

• Dr. Joy Nicole Martínez (Raised $240m for nonprofits; inaugural member of Peace50 Community; Director, World Woman Foundation)

• Andrés Guardado, (Mexican Football star and his wife Sandra De La Vega)

• Sheila Ivelisse Borges, (Managing Director, Research, at Rutgers University; former Assistant Director – NYU Adjunct Professor/STEM Educator/Diversity & Equity – Columbia University in New York City)

• Gabriel Brodbar, (Social Impact Leader; former Executive Director, NYU Social Entrepreneurship Program)

• Nepherter Estrada (Charlotte Business Journal 40 Under 40 Honoree)

• Catherine Milone, (President, Junior Achievement of New Jersey)

• Ivonne Díaz-Claisse (Founder/CEO, Hispanics Inspiring Students’ Performance and Achievement (HISPA)

… and other notable Hispanic leaders.

Measuring the Impact

Three different areas are measured to ensure that current and aspiring entrepreneurs are getting the value of the Learning Community and moving toward the achievement of business results:

• Engagement – engage with the Learning Community and fellow entrepreneurs

• Achieve Key Business Activities – achieve business activities and improvements that are necessary steppingstones to achieving business results (e.g., form a company, prepare financials)

• Achieve Business Results – achieve key business results (e.g., increase revenue)

Each day, entrepreneurs in the program improve their chance of success.

For more information about this exciting initiative, please reach out to me or Acceler8Success Group president, Erik Premont on LinkedIn. Or, if you prefer, please send either of us an email to Paul@Acceler8Success.com or Erik@Acceler8Success.com. We look forward to helping to make a difference for Hispanic Entrepreneurs everywhere.

Have a great day. make it happen. make it count!

Last night I read a post on LinkedIn from a person whom I noted from her LinkedIn profile is accomplished as a high-performance coach and trainer. The video on her page shows that she exudes a high level of confidence. As you might imagine, this person also has a large LinkedIn network with over 80,000 followers. I would make a calculated guess and say that she’s a people-person.

So, I was disheartened as I read through her post. She shared that she had experienced some recent health problems and had undergone an extensive battery of tests. “It’s been brutal,” she shared, “and yet, each day, I woke up and did my best for my children and for my clients.”

No doubt, she was going through a tough time. I stopped to think about how I would handle being in a similar situation. I do know my mind would be on others, and especially those that depended on me.

My daughter, Kristen’s recent experience involving a hospital stay and ensuing recovery also came to mind. Despite severe pain, her mind repeatedly turns to work and how she could help keep things running smooth in her absence.

I continued reading the LinkedIn post. She wrote…

“Unfortunately I encountered some rude, disrespectful and harsh people during this time when I was unable to respond to their immediate requests.

And it reminded me of an important truth. We all have lives outside the office, away from social media, behind closed doors and many people are experiencing hardships that we know nothing about.

Instead of making assumptions, try showing compassion and concern.

We can all be more intentional about treating people with kindness.

Wouldn’t you agree?”

I thought about the compassion and concern she was exhibiting on behalf of others despite her health issues and her feeling of being treated rudely and disrespectfully.

As I shared my well-wishes in the comments section below her post, I paused to reflect upon what I had just read. I thought about kindness, care and mutual respect, and how we’re seeing less and less of these traits in the world today. Why is that? I know, that’s definitely a rhetorical question that I won’t answer here as I don’t want to start a, long opinion-driven thread of comments and replies.

Instead, I immediately thought of John Lennon’s song, Imagine. I chuckled to myself as I thought about replacing Imagine in the song with Remember. Yes, I’m aware. Not all that Lennon refers to in his song was rainbows & unicorns in the past. But, no doubt, as I was growing up, I certainly remember more kindness, care and mutual respect than we’re seeing today.

Ironically, in my Facebook Memories this morning, I saw the following post from three years ago:

There’s so much hidden, unnoticed talent in the world and unfortunately, misused talent, as well. Imagine if all were able to be tapped for good how it might benefit all mankind. John Lennon’s, Imagine comes to mind, “Imagine all the people…”

Albeit, not about kindness, compassion and mutual respect, it did reference benefit to mankind, and the John Lennon song. Yes, imagine all the people… Imagine if all the people – all of us, and me included – made sure our actions and thoughts remained positive at all times.

Imagine kindness, care and mutual respect being the norm instead of a rare event that by the nature of being a rare occurrence that it has to be spotlighted on the evening news? What would be the benefit to all those around us? Again, a rhetorical question. Of course, there would be great benefit.

Imagine if it all carried over to everyone – pulling together – would/could it be for greater benefit? I’d say, yes, for sure. Are my thoughts [too] idealistic and/or impractical? Maybe so, but isn’t it worth a try?

And then, I saw this…

Imagine all the people… It’s easy if you try!

Have a great day. Make it happen. Make it count!

Yes, it’s a new week, a new month, and a new quarter. In fact, it’s the last quarter of 2022. As such, we have a choice to make. 

We can look ahead to the holiday season while remaining status quo and coast to year’s end. Although, I’m not sure anyone would consider this an option under any circumstances. But then again, I may be wrong and possibly, I just don’t understand complacency. 

Or…

We can double down and build upon a successful year thus far, or if the year has been less than successful, we can increase efforts and end the year on a high note. 

Let’s push complacency aside and focus on doubling down and increasing efforts in the fourth quarter. If not for a burning desire to succeed, at least as a counterattack on the perils of economic uncertainty. In either case, it’s time to make things happen!

While on the starting line of the race to a successful end of year, let’s begin with some motivation. Then, as the days turn to weeks and weeks turn to months, we’ll focus on the various action items necessary to help us achieve our goals, and without fail. 

Per the quote in the movie, Apollo 13 — “Failure is not an option!”

Starting Line Motivation

We must keep our wishes, hopes and dreams in mind, lest we forget our our objectives, and even our goals. It’s important we be open-minded with a strong desire and willingness to explore, dream & discover possibilities, and opportunities. In order to make things happen, we must understand our Why.

We must look forward to each and every day, and with a positive mindset. Doing so will help us remain focused on our goals. This focus will help us stay the course according to plan. 

Moments are what shape and define our lives. They determine who and where we are today, where we want to go in life. It’s the moments that we win or lose. Live for the moments upon us, for they can change our lives forever so we must make the best of those that present themselves. Life is short, so we cannot go another day, hour or minute and regret a moment, any moment that could have changed our life. We must keep the fire burning, and our passion alive.

‘Opportunity’ is defined as, a favorable juncture of circumstances; a good chance for advancement or progress. We must keep our eyes open for possibilities, even if they’re disguised as challenges, issues or cases of failure. We must then aggressively exploit possibilities as opportunities. It makes perfect sense to do so, but without procrastination. 

Keeping the Acceler8Success mantra in mind will help us capitalize on opportunities while driving us to accelerate, and achieve success. Success being an achievement of goals in line with our Why. Our focus must remain as such!

Have a great day, a great week, a great month, and a great quarter. Make it happen. Make it count!

October is National Women’s Small Business Month, a time to recognize and celebrate women-owned businesses. It’s also a time to acknowledge the outstanding progress female entrepreneurs have made over the years. In fact, female entrepreneurs are creating new businesses, disrupting established industries and developing innovative products at a record pace.

The Facts

According to JuneCPA:

• There are nearly 13 million women-owned businesses in the United States (that’s 42% of all companies in the U.S.). They employ 10 million people and generate about $1.8 trillion annually. (American Express)
• 17% of Black women are starting businesses—faster than white women, at 10%, and white men, at 15%. (Harvard Business Review)
• Female entrepreneurs in the U.S. rank their happiness at almost three times that of women who aren’t entrepreneurs or business owners. (Inc.)
• In 2021, the number of women running Fortune 500 businesses hit an all-time record of 41. (Fortune)
• As of 2021, 90% of companies worldwide have at least one woman in a senior management role. (Grant Thornton)
• Companies with women in executive positions have a 34% higher total return to shareholders than companies that don’t. (Catalyst)
• Adding one more woman to a company’s board of directors, while keeping the board size the same, produces a return on investment (ROI) of 8-13 basis points. (Egon Zehnder via Catalyst)
• Female entrepreneurs ask for $35,000 less, on average, in business financing than do men—$89,000 on average for women vs. $124,500 on average for men. (Fundera)
• Between 2014 and 2016, the number of employer firms owned by women grew 6%—twice the rate of employer firms owned by men. The growth was driven mostly by a 14% increase in employer businesses owned by minority women. (U.S. Small Business Administration)
• In 2020, 28% of all business loan applications came from women-owned businesses. In 2021, 33% of all loan applications came from women-owned businesses. (2022 Biz2Credit Women-Owned Business Survey)
• The average loan size for women-owned businesses in 2021 was $49,712, while the average loan size for men-owned businesses was $83,198. Loan approval rates were 40% for women and 41% for men. (2022 Biz2Credit Women-Owned Business Survey)
• Women are globally paid less than men, earning on average only 77% of men’s wages. (UN Women)
• 48% of female founders say what holds them back is the lack of available mentors or advisors. (Inc.)
• The World Economic Forum calculated that the pay disparity gap between men and women would not close until 2157. (World Economic Forum)

Women in Business Trends

One of the most informative reports I’ve read about women in business is by Guidant Financial, 2022 Women in Business Trends. It’s part of their annual Small Business Trends Report that includes reports on Entrepreneurs of Color, Franchise Trends and Women in Business.

The report is chock full of information. But what really struck me as most interesting is the following from the report:

This year, 59.22% of women reported that their business was currently profitable. Given the challenges of the past few years, it’s little surprise that 35% of business owners report that their business is not profitable. Don’t fret too much, though — remember that more than half of businesses surveyed are 5 years old or younger. Given that folk wisdom states businesses usually take two or three years to become profitable, it’s too early to worry that many of them not to have hit that mark yet.

Thank you, Guidant Financial!

It’s Time for Women to Own Their Power

Earlier this year, Bianca B. King wrote a great article at Entrepreneur.com about women business owners. In the article, Women Business Owners, It’s Time to Own Our Power, King shares powerful advice for new women entrepreneurs that want to fully honor their ambitions and reach their business goals. I especially like the following excerpt from the article:

As more women embrace entrepreneurship, it’s time for us to own our ambition and honor it by being unapologetic about our dreams and stepping fully into our power to reach our personal and professional goals.

I have seen too many women entrepreneurs afraid or ashamed to own their power. After years of being guided by patriarchal societal rules to downplay our achievements and talents, I understand why and empathize.

But now we know better, so we can do better not only for ourselves but for the next generation of women business leaders.

Very well said, Bianca!

Latino Women Entrepreneurs

As we’re also in the middle of National Hispanic Heritage Month, which runs through October 15th, it’s fitting to share recent news about Latino women entrepreneurs and especially about disparities in business ownership for this group.

Why is it harder for Latinos, women to start small businesses? is an article written by Lau Guzmán of Record-Journal. Guzman shared:

Across the United States, it is harder for Latinos and women to start a small business and Connecticut is not an exception. A recent report from the SBA found that there is a large gap between workers and business owners for women and minorities, especially Latinos.

“Most of the people making decisions about who gets a loan are not women,” said JoAnn Gulbin at the Women’s Business Development Council of Connecticut. 

“Access to capital remains the single largest obstacle for women who are starting, trying to start or grow businesses.” 

Thanks for sharing this information, Lau.

Supporting Women Entrepreneurs

So, what can we do to help women entrepreneurs across our country – regardless of color, race & creed?

An article written by Terri Williams at Lendio.com, 5 Ways to Support Women Entrepreneurs, is a good place to start. The article’s list is as follows:

1. Seek Out Women-Owned Businesses Online and In-Person. Perhaps the most important way to show support for women entrepreneurs is to be committed to seeking them out. “We can support them by being conscious of how we are spending our money and intentionally supporting women-owned businesses, says Wendy Muhammad, a real estate developer.
2. Make It Easier to Find Women Entrepreneurs. Social media makes it easier to find women-owned businesses, but according to N. Damali Peterman, Esq., founder and CEO of Breakthrough ADR, this should extend beyond likes and shares by consumers. “For example, companies and influencers should highlight women-owned businesses in their networks and on their social media platforms,” she explained. “Online retailers like Amazon should have a symbol or identifying mark that indicates if a product is a woman-owned brand.” Peterman says she’s often been in a physical store trying to decide between 2 similar items and made her decision based on the “Woman-Owned” logo on the packaging.  
3. Share Experiences. The sisterhood of women entrepreneurs can create a level of support that is mutually beneficial. “Meet each other on Zoom, connect via email, write content that expresses how you are experiencing the pandemic that can be shared,” recommends Deborah Sweeney, CEO of MyCorporation.
4. Collaborate. Another way to show support for women entrepreneurs is to collaborate with them. Talia R. Boone, founder and CEO of Postal Petals, looks for ways to work with other women and support Black business owners to help them grow their respective businesses. However, she says it’s those collaborations with larger companies that can help change the trajectory of a small business. “Seek out opportunities to partner with and hire services of women-owned businesses,” Boone advises.
5. Provide Mental Support and Mentorship. Being a woman entrepreneur is exciting, but it can also be frustrating and mentally draining. “If you have a woman in your life who is leading a small business, you can support her by encouraging her to evolve, adapt, and expand with the changing business landscape,” advises Bri Seeley, business growth advisor and entrepreneur coach. “Encourage her to look beyond what her business has been and to begin looking at what it could be.” Sometimes, that’s hard for women to do when they’re struggling to stay afloat while juggling numerous other roles at home. “The best way to help women entrepreneurs is to provide mental support to lift them up when they hit challenges,” says Charlene Walters, MBA, PhD, entrepreneurship coach, business branding mentor, and author of Launch Your Inner Entrepreneur.

Your article is greatly appreciated, Terri. Thank you!

SBA Resources for Women Business Owners

In 1972, there were a little over 400,000 women-owned businesses in the United States. Until 1988, women needed a male relative to co-sign if they wanted to apply for a business loan. That same year, the Women’s Business Ownership Act increased SBA’s access to capital to provide financial assistance to organizations geared toward women-owned small businesses.

By 2019, women-owned businesses represented 42% of all U.S. businesses and generated $1.9 trillion worth of revenue. Today, there are over 13 million women-owned businesses and counting. This month, SBA honors the milestone achievements of today’s women-owned businesses. 

Explore SBA’s resources for women entrepreneurs:

• Enter your address to find your local Women’s Business Center 
• Learn how to grow your business with the free Ascent learning platform
• Take advantage of other SBA resources for women-owned businesses

Read more on the SBA webpage recognizing National Women’s Small Business Month.

Let’s all do our part to help celebrate Women’s Small Business Month. We can start by including #WomensSmallBusinessMonth when posting across social media. Please let us know what you’re doing at your company to celebrate the event. The more ideas, the better.

Have a great day. Make it happen. Make it count!