Comments on: Yahoo column: Mastering the new entrepreneurship http://blog.penelopetrunk.com/2007/03/29/yahoo-column-mastering-the-new-entrepreneurship/ Advice at the intersection of work and life Fri, 29 Aug 2008 22:30:10 +0000 http://wordpress.org/?v=2.6.1 By: Joey Roth http://blog.penelopetrunk.com/2007/03/29/yahoo-column-mastering-the-new-entrepreneurship/#comment-49953 Joey Roth Thu, 29 Mar 2007 20:19:57 +0000 http://blog.penelopetrunk.com/2007/03/29/yahoo-column-mastering-the-new-entrepreneurship/#comment-49953 Thanks Penelope. Your article is an elegant expansion of a significant truth: the internet makes it possible to connect with mentors, suppliers, and potential customers, so that the only significant roadblock for the entrepreneur is fear, or a belief that things have to be done by the book, through the right channels. If Carol Chung of CoolHunting hadn't discovered my Sorapot and posted it as if it were a real product, it might still be a portfolio piece instead of the first product from my embryonic business. Without design blogs like Notcot, Gizmodo, and MocoLoco, sourcing tools like Alibaba, and daily inspiration from people like Seth, Guy, and of course you, I might have some real excuses to not produce my designs independently. With this amazing connectivity though, how could I do anything else? Thanks Penelope. Your article is an elegant expansion of a significant truth: the internet makes it possible to connect with mentors, suppliers, and potential customers, so that the only significant roadblock for the entrepreneur is fear, or a belief that things have to be done by the book, through the right channels. If Carol Chung of CoolHunting hadn't discovered my Sorapot and posted it as if it were a real product, it might still be a portfolio piece instead of the first product from my embryonic business. Without design blogs like Notcot, Gizmodo, and MocoLoco, sourcing tools like Alibaba, and daily inspiration from people like Seth, Guy, and of course you, I might have some real excuses to not produce my designs independently. With this amazing connectivity though, how could I do anything else?

]]> By: Wendy http://blog.penelopetrunk.com/2007/03/29/yahoo-column-mastering-the-new-entrepreneurship/#comment-49859 Wendy Thu, 29 Mar 2007 15:37:57 +0000 http://blog.penelopetrunk.com/2007/03/29/yahoo-column-mastering-the-new-entrepreneurship/#comment-49859 Two thoughts: While gaining flexibility is crutial to many people, some need to pay the mortgage and the bills too. I'd like some idea on success rates from this perspective: maybe how many entrepreneurs succeed in making over minimum wage, or 2X minimum wage or much more for their efforts after one year or two years or some reasonable time. Second (and completely unrelated) thought: this seems connected to the "micro-credit" phenomenon in many developing countries whereby individuals or families (often women are targeted) received small loans to get a business started: enough to buy a cell phone or a sewing machine, for example. The individual then uses their new asset to start a business, whether charging neighbours to make and receive phone calls or making and repairing clothes, etc. The loan pay back rate for such programs is remarkably high, indicating success. This provides further evidence that thinking small can be very successful when it comes to a home based business. Two thoughts: While gaining flexibility is crutial to many people, some need to pay the mortgage and the bills too. I'd like some idea on success rates from this perspective: maybe how many entrepreneurs succeed in making over minimum wage, or 2X minimum wage or much more for their efforts after one year or two years or some reasonable time.

Second (and completely unrelated) thought: this seems connected to the "micro-credit" phenomenon in many developing countries whereby individuals or families (often women are targeted) received small loans to get a business started: enough to buy a cell phone or a sewing machine, for example. The individual then uses their new asset to start a business, whether charging neighbours to make and receive phone calls or making and repairing clothes, etc. The loan pay back rate for such programs is remarkably high, indicating success. This provides further evidence that thinking small can be very successful when it comes to a home based business.

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