Author: F.C. Dawkins

Fellow Entrepreneurs listen up! I read almost a book a day and rarely do I fall this deeply in love with the entire book. A delightful exception to that rule has been Everyday Entrepreneur. Fred Dawkins has a simplicity that is accessible by entrepreneurs at every level, including those who are paving new ways within organizations, not just those of us out in the business wilderness. If you want a fast read that you’ll be able to convert into massive action that will undoubtedly improve the way you do business then drop everything and read this book.

Sherri J Griffin
20 Year Training & Development Professional

“`The most important skill in the 21st century will be the ability to create your own job.” Fred Dawkins Author of Everyday Entrepreneur – my favorite new book – a quick read with all the common sense through the stories of people whose experiences ring so true to life. I suggest all students and young engineers I have worked with pick up a copy! You won`t be sorry!”

Maryam Latifpoor-Keparoutis
Senior Development Manager
College of Physical & Engineering Science (CPES)
University of Guelph

Most of what the average person reads about entrepreneurship sustains the mystique. We revere the outstanding successes achieved by extreme entrepreneurs — everyone from Edison to Jobs. Yet, reading about these giants colors our perception of entrepreneurship. We admire their achievements but consider them beyond reach. Their stories often sustain misleading myths about entrepreneurship that keep capable people from embracing an entrepreneurial career. People begin to believe that to travel down the entrepreneurial path, a person must be born with a particular mindset, take reckless risks to achieve high rewards, work all day, everyday and must fail to succeed. Don’t let these misconceptions scare you off.

Entrepreneurship can be taught, it should be taught and it is being taught.

After 50 years of a flawed model focused on churning out executives for large corporations, colleges and universities have turned their attention to promoting and encouraging entrepreneurship. These schools are focusing on teaching the entrepreneurial lifestyle; one focused on both the mindset and the skillset required to become an entrepreneur.

Entrepreneurship is not about the risk you take, but the results that you achieve

It’s a startling paradox. Too many good opportunities die prematurely because so many potential entrepreneurs are risk averse. At the same time businesses are failing because of absurd risks fostered by the idea that being an entrepreneur is nothing more than a gamble. Entrepreneurs succeed through determination not by taking unwarranted risk. Managing risk as you embrace it is critical. Not all ideas are opportunities and every opportunity is not viable. Managed risk is inherent in the lean startup focused on getting valuable feedback from potential end users before jumping into full scale operation.

Entrepreneurs need to find work/life balance and will have regrets if they don’t.

Having a strong work ethic and being willing to put in extended days when required is critical. During your startup phase and later when you encounter bumps in the road you will work long hours with great satisfaction. But as things progress you need to find balance by building your team, easing control and empowering your staff. You must recharge your batteries. Never forget: You are your most valuable human resource. Without balance your performance will suffer, your business will be restrained and your personal life will be sacrificed unnecessarily.

Failure is not essential. Entrepreneurs manage their risk and avoid failure.

Describing failure as an essential part of success is rationalization but many entrepreneurs are motivated by the fear of failure more than the rewards of success. Failure only happens when we either quit or are forced to give up. Mistakes are part of the learning curve. We do learn from them because we take the time to analyze them. Success is elating and it masks our faults. Continually improve by understanding what you do right and correcting what you do wrong in good times and in bad. If you do experience failure you can and will bounce back, many have.

Being an entrepreneur is within your reach.

You can become a problem solver who is determined to find a way to make things happen? Understand: we can’t all be innovators but for every innovation there will be thousands of entrepreneurs finding applications that solve everyday problems producing jobs and independence. Being first is over rated. Doing things better and different often brings greater opportunity

Believe in your own ability.

You can establish the mindset of an entrepreneur by eliminating the word ‘can’t’ from your vocabulary. You can approach problems by skipping right over the question “if” it can be solved and skip directly to the question “how” it will be solved. You can find opportunity and you can analyze to make sure that opportunity is viable. All of this can be done within the context of the traditional economy and you don’t have to be a tech genius to do it. Technology is not a threat but offers a great tool for you to use. We are entering a new era of entrepreneurship, which means it is an option for almost anyone. If you can’t carry the full weight of your own business bring entrepreneurial thinking to managing your career and performing your role as an employee. You won’t regret it.

Most of what the average person reads about entrepreneurship sustains the mystique. We revere the outstanding successes achieved by extreme entrepreneurs from Edison to Jobs. Reading about these giants colors our perception of entrepreneurship. We admire their achievements but consider them beyond reach. Their stories sustain misleading myths about entrepreneurship that combine to keep capable people from embracing an entrepreneurial career. Here are some of the distortions that deceive us:
– Entrepreneurs are born and cannot be made
– Entrepreneurs are gamblers who take reckless risks to achieve high rewards
– Entrepreneurs work 24/7 and have little or no personal life
– Entrepreneurs need to fail in order to succeed
These established stereotypes derive from two specific types of entrepreneurs. First are the misfits or rebels who either cannot or will not conform; the gamblers to whom few of us can relate. Second and even more prominent are the tech entrepreneurs immersed in the world of venture capital where risk is high, failure is frequent and the rewards for success are dramatic. However Silicon Valley is not the center of the universe and these are not the definitive entrepreneurs; they are but two types of many, both removed from the traditional economy and the rock solid problem solvers that collectively form the engine that drives the economy. Those are the achievers that make things happen especially creating jobs while big business is chasing lower costs around the globe.
Let’s set the record straight
Entrepreneurship can be taught. It should be taught and it is being taught
Becoming an entrepreneur is all about the mindset not the skillset. Entrepreneurs find the way to make things happen they don’t always know the way. This is a teachable philosophy, entirely appropriate in a world dominated by change which generates knowledge and new problems at a phenomenal rate. Finally after fifty years of a flawed model focused on turning out executives for large corporations, colleges and universities have turned their attention to promoting and encouraging entrepreneurship
Entrepreneurship is not about the risk you take but the results that you achieve
It’s a startling paradox. Too many good opportunities die prematurely because so many potential entrepreneurs are risk averse. At the same time businesses are failing because of absurd risks fostered by the idea that being an entrepreneur is nothing more than a gamble. Entrepreneurs succeed through determination not by taking unwarranted risk. Managing your risk as you embrace it is critical. Not all ideas are opportunities and every opportunity is not viable.
Entrepreneurs need to find balance and will make mistakes and have regrets if they don’t
Having a work ethic is critical. During your startup phase and later when you encounter bumps in the road you will work long hours with great satisfaction. But as things progress and you don’t find balance you are missing something – failing to build your team, keeping too much control or limiting your own development. Both you and your business will suffer. Never forget: you are your most valuable human resource. Balance is a subjective decision but dividing your time does not preclude you from succeeding as an entrepreneur.
Entrepreneurs do manage their risk and avoid failure – if they fail they learn and move on
Describing failure as an essential part of success is pure rationalization. Admittedly many entrepreneurs are motivated by the fear of failure more than the rewards of success. Avoiding failure is a powerful source of determination. We do learn from failing because we take the time to analyze it. Success is elating and it masks our faults. Entrepreneurial infallibility is another myth that leads to bad decisions and setbacks that result from forgetting the basics.
What is an entrepreneur?
Most of us will never reach achievements like Steve Jobs or Mark Zuckerberg. That does not demean what we do achieve. Society needs to recognize a broad definition of entrepreneurship at every level and value entrepreneurship of every type because in a world dominated by globalization and technology the one thing that we can count on is change across every element of our economy. Resilience and adaptability are important entrepreneurial qualities that allow us to embrace the ongoing pressure for change. In the simplest terms entrepreneurs are problem solvers who consistently make things happen. They are agents of change in an era of change. They are disruptors at a time when the status quo is a moving target. Do you want to be part of the solution or part of the problem? We can all become more entrepreneurial in our beliefs, break out of prison thinking and think outside the box. The alternative is personal stagnation and uncertainty evolving from lack of job stability, declining upward mobility and the shift in income distribution toward the rich. The most important skill you can develop is the ability to create and manage your own career,
Do understand: we can’t all be innovators but for every innovation there will be thousands of entrepreneurs finding applications for it that solve everyday problems producing jobs and independence in the mainstream economy. Being first is over rated. Doing things better and different often brings greater opportunity. Remember that coffee shops existed in London in 1650 but Starbucks found a new appeal and a great market niche for this old product that resonates in today’s economy.
Believe in your own ability. You can establish the mindset of an entrepreneur. You can eliminate the word ‘can’t’ from your vocabulary. You can approach problems by skipping right over the question “if” it can be solved and skip directly to the question “how” it will be solved. You can find opportunity and you can analyze to make sure that opportunity is viable. All of this can be done within the context of the traditional economy and you don’t have to be a tech genius to do it. Technology is not a threat but offers a great tool for you to use. We are entering a new era of entrepreneurship which means it really should be an option for almost anyone.

The most important skill you can learn today is the ability to create and manage your own career. We live in a world where globalization and technology combine to guarantee that the one constant we face is rapid change. There is no room for prison thinking as the status quo must constantly be challenged to ensure that we stay competitive. The most important characteristics for individuals, organizations and countries alike are resilience and adaptability. These are the key characteristics of entrepreneurs.
Unfortunately the prevailing stereotypes of entrepreneurs discourage many people from embracing the idea. Most of our perceptions about entrepreneurship stem from two specific types:
First are the misfits; those who either can’t fit in or don’t choose to embrace the norm. These are the rebels characterized as risk takers or gamblers. They convey the image of success achieved through reckless risk, initial failures and inherent natural instincts that allow them to succeed in areas that most won’t try.
The second high profile type is the tech entrepreneur immersed in the world of venture capital, an area typified by high risk, a high rate of failure and exceptional rewards for success. This is sphere that gives us most of the buzz words attributed to entrepreneurship such as accelerators, incubators and burn rate. The latter tells you when you will run out of funds so identifies the point at which you need and hope to have an investor. It’s a little like bungee jumping, hoping that someone will come along and tie your rope securely before you hit the ground but you leap anyway.
Together these two stereotypes re-enforce the perception that above all else entrepreneurs are risk takers whose success is tempered by failure. As a result of such typecasting many good projects never see the light of day while others fail by taking risks that can’t be justified.
These are but two forms of a wide range of entrepreneurial types but unfortunately they get most of the attention. Regardless they are far removed from the everyday entrepreneurs who provide the engine that drives the economy and the stimulus that creates jobs locally when big business is preoccupied chasing profits around the globe. In the broader circle the critical terms are practical; words like bootstrapping and the lean startup. Words grounded in reality and pragmatism. Hope is not the prevailing sentiment. Being proactive is critical. These mainstream entrepreneurs certainly take risks. The risk and reward dichotomy are joined at the hip. No doubt the greater the risk the greater the reward and the higher the chance of failure. Most successful entrepreneurs know how to manage their risk. Failure is far from a prerequisite. Learn from it if you must but avoid it if you can through anticipation, resilience and adaptability. Entrepreneurs are not defined by the risk that they take but rather by the results that they achieve. They are problem solvers who make things happen.
So what does it take to become an everyday entrepreneur? Is this a skill that can be learned or does it just come naturally? Do you have to work 24/7 and sacrifice your personal life to be successful? Is it all about the mystique or is there a formula to follow? Since this is a lifestyle about embracing change and becoming adaptable a formula is hardly appropriate. The key starting point is the philosophy. Becoming an entrepreneur is far more about the mindset than the skillset. Entrepreneurship is entirely about finding a way not knowing the way. In a modern world where new data is being generated at an alarming rate how much of what we know do we actually understand? Entrepreneurs never become preoccupied with whether they can accomplish something but spend their time and effort looking for solutions. The question ‘if’ doesn’t come up. Instead they ignore it moving immediately to ‘how’. They don’t have all the answers but they are dogged in their determination to solve the issue at hand. This is certainly a belief and an approach that can be taught and quite effectively. Entrepreneurship can be taught, it should be taught and it is starting to be taught. Colleges and Universities across the country are rushing to find the best ways to spread the word.
Does this mentality mean a 24/7 workaholic lifestyle? That’s a very personal choice but a bad one if you choose it. You may well work long hours during your startup phase when you are the generalist wearing every possible hat and passing through a learning curve that will prepare you for the next phase. You will also work those same long hours when you hit a bump in the road, a major threat and/or opportunity that needs your full attention. However, if you continue to do this as your regular routine, once you complete the startup stage, you are making mistakes that will limit both your life and your business. Either you are not building your team properly or you have become a control freak unable to delegate. In either case you and your business will suffer. In the end you will have regrets. Finding balance, admittedly a subjective decision is critical. Remember the most important human resource in your company is you. So find ways to take vacation; pay yourself fairly, attend courses and travel. Don’t let your business outgrow you.
In addition to determination the other essential ingredient for everyday entrepreneurs is opportunity. All ideas are not opportunities and every opportunity is not viable. Having ideas makes you a dreamer; converting them into reality makes you into an entrepreneur. This does not mean you have to be an innovator. For every innovation there are thousands of entrepreneurs who find applications in the process solving a wide range of problems in the business world. Experience helps you identify opportunity. Empathy can help because it makes you sensitive to problems that exist for others. Most opportunities do start with problems; the bigger the problem the higher the reward for solving it. That’s another aspect of the entrepreneurial mindset – every problem is an opportunity. You do have to be vigilant. All opportunities are not created equally but you have to make the best of what is available. Waiting for just the right one is like waiting for the winning lottery ticket. Often people just don’t see the possibilities but they are always some there if you are looking.
There are many other elements of being an everyday entrepreneur but determination and opportunity constitute the foundation. Most important don’t undervalue what you do. We need to value entrepreneurship at all levels, not just the superheroes like Steve Jobs. If running a business is not for you, work on that entrepreneurial mindset. Job stability is fleeting so manage the business of your career by making good decisions and taking jobs that build your personal brand. Every business today is placing new value on disruptors. These are people who challenge the status quo. Be entrepreneurial in your thinking, you won’t be sorry

Misconceptions about Entrepreneurship – Time to end the nonsense!
By Fred Dawkins, author of Everyday Entrepreneur
We are entering a New Era of Entrepreneurship where there is no room for prison thinking in a world dominated by rapid change. Embracing change requires resilience and adaptability which are key characteristics for all entrepreneurs. Unfortunately the existing stereotypes for entrepreneurs discourage countless people from embracing the role. These perceptions prevent too many from taking the leap of faith required to become one. The first step in breaking free is to dispel some of the myths that are holding capable people back at a time when they need to welcome the opportunity to create and manage their own careers.
Two of the most flagrant misrepresentations that discourage people are that entrepreneurs are gamblers who take reckless risks to achieve high rewards and that entrepreneurs need to fail in order to succeed. Many people are risk averse and most of us fear failure. These traits do not disqualify us as potential entrepreneurs. In reality entrepreneurship is not about the risk that you take but entirely about the results that you achieve. Being entrepreneurial relies on the determination to make things happen especially when many others don’t see that possibility. Becoming an entrepreneur is all about the mindset not the skillset. Entrepreneurs find the way to make things happen they don’t always know the way. Too many good opportunities die prematurely because people are risk averse. More people need to make the leap of faith based on their determination and the foundation of a viable opportunity.
However, being prudent prevents you from taking reckless risk and directs you towards managed risk which is the hallmark of free enterprise. Entrepreneurs are proactive and solve problems through determination not by taking unwarranted risk. Successful entrepreneurs always have a downside plan allowing for adjustment which mitigates risk. When they make plans they analyze a range of possibilities rather than marrying themselves up to a single goal or result. In this way they build a framework which helps them adjust on a timely basis. Put your best foot forward: at the very beginning establish the viability of your opportunity. Too much time, energy and money are spent trying to convert whimsical ideas into a sound business. A high tolerance for risk is not enough to make a bad idea succeed. This is the essence of the lean startup. Test your premise. Talk to your potential market. Get feedback and adjust. Manage your risk from the outset. Don’t plunge blindly ahead on the premise that risk is an integral part of the undertaking. To be sure there is risk but recognize it and manage it as best you can.
The concept that failure is a prerequisite for success is more nonsense and stems from rationalization by those who fail initially. Successful entrepreneurs abhor failure. For many of them the fear of failing is a powerful motivation. Most manage their risk effectively, anticipate problems, adjust quickly, bounce back from setbacks and manage to avoid failure – if they do fail they learn and move on. We all learn more from failure simply because we take the time to analyze it. In that sense setbacks do make you stronger and they only constitute a failure if we give up. On the other hand success is exhilarating and it masks our faults. Just as initial failure can set the stage for success to follow; initial success can lead to a sense of entrepreneurial infallibility. When that happens, as it does to too many, the critical things that built those initial achievements are often forgotten and ignored.
In order to break down these established stereotypes we have to understand how they evolved. Both derive from two specific types of entrepreneurs. First are the misfits or rebels who either cannot or will not conform; the gamblers to whom few of us can relate. Second and even more prominent are the tech entrepreneurs immersed in the world of venture capital where risk is high, failure is frequent and the rewards for success are dramatic. However Silicon Valley is not the center of the universe and these are not the definitive entrepreneurs; they are but two types of many, both removed from the traditional economy and the rock solid problem solvers that collectively form the engine that drives the economy. Those are the achievers that do make things happen especially creating jobs while big business is chasing lower costs around the globe.
In this new era, defined by constant and rapid change, we must all become more entrepreneurial. We can choose to establish an independent business or we can choose to become disruptors within the culture of big business or within the bureaucracy of big government. Collectively we are defining a new normal; one that is less stable and more dynamic. Regardless it is in our best interest to embrace the mindset of an entrepreneur, an attitude focused on action fueled by determination. We must indeed create and manage our own careers. Job stability is disappearing. The distribution of wealth is favouring capital not labour. Upward mobility is in decline. All of this means new and different opportunities. We can become the architect of our dreams or the victim of others’. Whatever you choose; don’t let misguided and outdated ideas limit your choices. .
Fred Dawkins is a serial entrepreneur with over 40 years’ experience and achievements in manufacturing, retail, land development, consulting and import/export. He holds a B Com in commerce and finance and a M.A. in economics from the University of Toronto. His business has allowed him to travel extensively, giving him insight into the emerging global economy and making him a passionate advocate of entrepreneurship in the 21st century.
Everyday Entrepreneur [Dundurn Press] is the first book in Dawkins’ Entrepreneurial Edge series, and is currently available at all booksellers, including Amazon.com, Amazon.ca, Barnes & Noble and Chapters Indigo. His novel, 2020 Hindsight, explores major contradictory trends in society in a compelling contemporary fiction narrative, and is forthcoming as an e-book on Amazon.com.
Website: https://fcdawkins.com/
Read More “My article: The Misconceptions about Entrepreneurship”

Generally anything that makes government facilitate as opposed to over regulate is a positive step. The government of Ontario has just announced initiatives that could reduce red tape for businesses and create cluster developments to help drive regional economic growth and create jobs. Will these reforms ever see the light of day in a minority legislature flirting with an election or are they just pre-election temptations to attract votes away from the conservatives?

Regardless both of these ideas focus on critical areas in the face of a fast paced global economy where all countries are fighting for talent and for markets. Governments at all levels need to become more efficient and more effective. Over regulation serves no purpose other than to increase the cost of government and limit the competitiveness of the private sector, discouraging investment in the province in the process. There is a place for regulation and there are important roles for government but the former needs to be reeled in while the latter needs to be more selective. One preferred area should be to co-operate with the private sector and academia to create ecosystems that foster business opportunities in a variety of areas where we can build comparative advantages. This is now a stated goal for Ontario.

The most startling evidence of cluster development is Silicon Valley where 350,000 Canadians live and work. That’s right 1% of our population and a much higher percentage of our intellectual capital are resident in northern California. The Valley offers the most dominant ecosystem for an industry that exists, nurturing tech startups and venture capital investment at a phenomenal rate. It is not one that can easily be replicated and it’s been underway for over sixty years.

In other words this project requires genuine commitment from all concerned. We can only hope that the Ontario government follows through and that the Feds add a level of support. We are in a new era dominated by change. The culture of government and business alike has to change. Government must move away from a culture of bureaucracy that has become an unbearable burden. Big business must move away from a culture of control to a culture of empowerment as change dictates that the status quo is short lived.

These new initiatives serve as a reality check that we must become more competitive. Government can not be the agent of change that makes this happen but it can facilitate a co-ordinated approach by reducing the costs of doing business and helping to create ecosystems that support the efforts of the private sector. Let’s hope that all parties rally in support of these programs that will create jobs and point us toward a better future.

Originally posted by Emily Barnes, The Creative Destruction Lab The Rotman School of Management, University of Toronto

Businesses large and small can find it tough to spare a few moments to step back and look at the big picture. But immersed in the little details surrounding new product features and releases, you can easily miss a few telltale signs your startup is starting to spiral.

With the Vancouver Olympics on the horizon the Canadian Olympic Committee supported by the Government recognized a need to change the status quo – a need to disrupt the traditional methods and find a way to achieve the winning performances expected from the host country. The situation demanded an entrepreneurial approach based on opportunity and determination. The opportunity was hosting the games – the determination to win existed with the athletes but the momentum to surpass previous achievement came from the Own the Podium program that created an ecosystem promoting pride, confidence and results. It worked – in Vancouver the Canadian team set a record for the most gold medals won at a winter Olympics and collected more total medals than they had ever won in a single Olympics. The key was creating a culture that nurtured success and established that success as a new normal, an expectation. In the simplest terms a philosophy or mindset focused on making things happen- the essence of being entrepreneurial.

On an individual basis this program is a great example of breaking free of prison thinking and letting your determination take you through to success. But Own the Podium is far more significant than that. It is a great example of the collective creating the support system that produces individual success to the benefit of the entire country. We must do the same in the business world. Did you know that over 350,000 Canadians live and work in Silicon Valley? Why? Because the Valley offers the most highly developed tech ecosystem the world has ever seen. Do you also know that there is a worldwide competition for talent going on? Governments around the world are building programs to attract entrepreneurs to their countries. Canada has already introduced a fast track system to provide visas and a path to citizenship for entrepreneurs/innovators who can attract venture capital investment from Canadians. However if we can just keep our best and most brilliant home we can do well in this talent war and improve our prospects and results. We need to Own the Podium in tech development and in entrepreneurship.

We have a good start with programs like MaRS , Communitech and The Creative Destruction Lab at the Rotman School but we need the collective will and the support of government to build an ecosystem that is second to none and that brings out the very best from the natural ability that exists here. If one per cent of our total population representing a much higher percentage of our intellectual capital are living in California than we have the tools here but we are both losing them and underutilizing them. More or less like our Olympic performance prior to Vancouver. If we can do it in sport we can do it in business.

 

The appeal and benefits of pursuing a global economy lie in the theory of comparative advantage whereby global completion will ensure that goods and resources will be allocated in the most efficient way, ensuring the most cost effective production of goods and services to the benefit of all. Yet the more we open ourselves up to globalization the greater becomes the discrepancy in wealth distribution which contradicts the theory. Oh to be sure there is a growing middle class in the highly populated eastern countries like India and China but in effect we are just averaging out the wealth of the poor – improving in the eastern world and declining in the west while those at the top accumulate huge fortunes. Upward mobility  on any kind of scale may be in jeopardy.

Life should be getting better for all of us. Instead large corporations are controlling the marketing of most products largely through effective branding  which allows them to keep the lion’s share of the benefits of low cost production in the form of huge profits rather than either paying a fair price or passing along the benefits to the end user. At the same time the demand for labour is shrinking in relative terms through technology and mechanization undermining wage structures around the world. These large corporations have abandoned their identity as national firms in favour of becoming global entities. They are routed in a culture of control and increasingly rely on acquisitions and outsourcing to give them the innovation and flexibility needed in a fast paced world economy immersed in rapid change. As long as they can control the market they retain control of the profits.

So how do we break this system and allow the mass sharing of the efficiencies being gained? The hope lies in entrepreneurs digging in the corners, finding comparative advantages and getting low cost products to market. The problem is that there are barriers to get products to market and if you manage to break through your company soon joins the club bringing in huge profits.  Rather than breaking the system, those that succeed are embracing it. Greed is a powerful motivation in the face of dynamic achievement. So as it stands now entrepreneurial success lies in pursuing startups and selling out or by leapfrogging through this stage and becoming one of the Bigs. Neither of these trends will break the current trend on wealth distribution which is moving back towards the historical norm.

On a macro level entrepreneurs are the main hope to break the culture of control but there are no guarantees that will happen. On an individual level, pursuing a career as an entrepreneur may be the only ticket to upward mobility. That is why the most important skill anyone can master today is the ability to create and manage their own career. We must all adopt the mindset of the entrepreneur.