The Unconventional Journey of the Minority Entrepreneur
by Oscar Valdez
GENRE: Non-fiction (entrepreneurial)
Entrepreneurship is considered one of the most ancient professions in human history. So, why then, is entrepreneurship so difficult to break into for minorities? What are the social and economical roadblocks and what can you do to tear them down and make a mark for yourself as a true corporate misfit?
As a managing partner of seven separate multi-million-dollar businesses operating in twenty-three States, I've discovered there's no single formula to becoming a successful entrepreneur - but there are certain rules, especially for minorities, that must be abided by to avoid operational blunders. Any book can tell you it all comes down to planning and having the right mindset, but these gross oversimplifications are precisely why many fail to grasp the true keys to success.
Throughout these nine chapters you'll learn all aspects of the minority entrepreneur's journey, from starting a venture to ensuring its success. You'll break down the balance between structure and flexibility necessary to grow and flourish as a minority entrepreneur. You'll decode the complexities of the rules and uncover what obstacles stand before you - and how to rise above them, steadfast and unbred.
Enjoy an Excerpt:
Business plans are like road maps—it’s possible to travel without one, but that’ll only increase the odds of getting lost along the way. Owners with a business plan see growth 30% faster than those without one, and 71% of the fast-growing companies have business plans. A well-written business plan is an important tool because it gives entrepreneurs and small business owners, as well as their employees, the ability to lay out their goals and track their progress as their business grows. Business planning should be the first to-do when starting a new venture.
Business plans are also important for attracting investors so they can determine if your business is on the right path and worth putting money into. Keep in mind, investors or banks will look at your business plan to see if it's well thought out and realistic, so it's important to do your research beforehand to build a realistic path forward. A good place to start is to plan for the first five years and set business milestones to achieve.
In today’s business world, most young entrepreneurs wonder if they really need a business plan, since it requires a lot of brainstorming and a lot of work goes into it, plus there’s this common misconception that business plans are outdated. Another portion of young entrepreneurs like spontaneity and believe they’ll figure things out along the way, which most of the time results in extremely catastrophic scenarios.
When young entrepreneurs ask me whether they should draft a plan before formally executing their business, my answer is always yes. You really need a business plan. Entrepreneur Kevin J. Donaldson said that going into business without a business plan is like going on a mountain trek without a map or GPS support. You’ll eventually get lost and starve. Though it may sound tedious and time-consuming, business plans are critical to starting your business and setting yourself up for success. Dreaming up your business is an amazing thing, but usually, in an entrepreneur's dream, they don’t anticipate the cash flow needs of actually growing their business.
When you start out, it may be just you and family or friends, but what about when you grow and need to hire employees? What about additional inventory needs? Maybe you didn't know about a competitor down the street and wonder why your business isn’t growing. Things like these are planned out in advance with a well-thought-out business plan. If you stay on track with growth, you'll know the capital needs it’ll take and can plan that out in advance.
About the Author:
Born in Guatemala and raised in Los Angeles, Oscar dreamed of becoming a successful business owner. To become a successful entrepreneur seemed unattainable and a far-out dream. Oscar worked his way up the corporate ladder of successful companies gaining several awards along the way. He started several businesses only to witness those businesses fail.
At the age of 43, Oscar suffered multiple health scares, causing him to retire. With newfound time on his hands, he joined childhood friends to start a business venture. His past business failures were a lesson in finding a successful entrepreneurial path. This new venture resulted in a multi-million-dollar conglomerate, which continues to grow every year.
Oscar still lives in Los Angeles with his family and in his spare time he works towards helping the less fortunate through philanthropy and education.
Oscar Valdez will be awarding a $20 Amazon or B/N GC to a randomly drawn winner via rafflecopter during the tour.
a Rafflecopter giveaway