Invitation to Book Signing in Guelph on Saturday, January 11, 2014

Our economy can best be characterized as fast and furious. The combination of globalization and the technological revolution ensure that the one constant in our economic lives is change. This is an environment
well suited for entrepreneurs who by definition are flexible, adaptable and resilient, unlike big business which has become entrenched and slow to adapt. Big entities grow through acquisition increasingly depending on entrepreneurial enterprise to produce start-ups with potential to feed their growth needs.

Small business entrepreneurs need to get in on the action. Most think that global trade opportunities accrue to the large corporations that can deal in the volumes required by manufacturing giants like China. However there are large numbers of likeminded entrepreneurs in countries like India, Malaysia and Viet Nam that want to network and connect with entrepreneurs here in North America. Entrepreneurship starts with opportunity and there are many around the world that big business will miss or ignore. Oh they will capitalize on the obvious ones like cheap labour in certain countries but it will take energy and determination common to entrepreneurs who disrupt and challenge the status quo to find the myriad of less obvious opportunities.

‘Everyday Entrepreneur’ encourages entrepreneurs to strike out and look for these relationships. They are there to be had. Anecdotes outline experiences in dealing off shore and give insight into different economies and some of the advantages on which entrepreneurs can capitalize.

Praise for Everyday Entrepreneur:
“I just finished reading [this] book and enjoyed it immensely. [Fred has] pulled together a wealth of knowledge and advice crucial to the successful entrepreneur in a highly readable fashion. It is a
must-read for aspiring and seasoned entrepreneurs who are facing today’s complex, volatile, and uncertain world. I especially appreciate the emphasis on thinking globally and adapting proactively.
We have seen too many examples of yesterday’s winner relying on old models to their detriment. It isn’t easy … but it is exciting and gratifying to create your own business and work to see it flourish. The summary at the end of the book should be bookmarked on every entrepreneur’s computer.”
— Dr. Sherry Cooper, former executive VP and chief economist for BMO
and author of three books, including The New Retirement: How it Will Change Our Future.

1. Are you concerned about funding your retirement?
2. Does the trend to precarious employment disturb you?
3. Do you consider globalization to be a threat to you, your children and/or grandchildren?
4. Are you having trouble getting your career underway?
5. Do you have to extend your career?
6. Are you struggling to find a succession plan for your business?
7. Are you worse off financially than you were ten years ago?
8. Do you have fewer opportunities than you expected at this stage of your life?
9. Would you like more control over your financial future?
10. Are your best years behind you?

If you answered yes to any of these questions than you should read my series of three books The Entrepreneurial Edge. These books are The Wealthy Barber for anyone dealing with these issues and looking to embrace self-determination in a world conspiring against individual success

Book 1: Everyday Entrepreneur – making it happen

Book 2: Family Entrepreneur – easier said than done

Book 3: Ageless Entrepreneur – never too early – never too late

Don’t let the word entrepreneur scare you off. You don’t have to run a business to think like an entrepreneur and take charge of your life. Think entrepreneurially. Be resilient. Be adaptable. Make things happen. Embrace self-determination. Trade stability for agility!

The most important skill to learn in the 21^st century is the ability to create and manage your career!

Each of us must be his or her own brand making good strategic decisions about life and career.

Fred Dawkins

Author

fred@fcdawkins.com

fcdawkins.com

Everyday Entrepreneur dundurn.com/authors/fred_dawkins

Follow me on twitter @dawkinsfred

Follow My Blog The Entrepreneurial Edge https://fcdawkins.com/blog/

 

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.

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

Series: The Entrepreneurial Edge
Book one: Everyday Entrepreneur – making it happen
Book two: Family Entrepreneur – easier said than done
Book three: Ageless Entrepreneur – never too early, never too late

Ten Things These Books Will Do For You

1. Get you out of a mental rut and into new opportunities
2. Show you a path to self-determination
3. Increase your earning power
4. Enable you start a business, manage your career or accomplish your bucket list
5. Make you a problem solver
6. Enable you to build teamwork in your business and at home
7. Explain the dynamic of the fast paced global economy we live and work in
8. Prepare you for all of the fundamental issues you will face in a business
9. Provide common sense solutions you can accomplish
10. Inspire you to strike out, create your own brand and control your career

“Fred Dawkins has written a wonderful book about entrepreneurship unlike any other on the market. He brilliantly uses his storytelling skills to illuminate his subject in a way that makes the book a joy to read. You’re so wrapped up in the story that you may not realize how much you’re learning until you’ve turned that last page.”
— TERRY FALLIS, AWARD-WINNING AUTHOR OF THE BEST LAID PLANS AND UP AND DOWN.

“Fred has pulled together a wealth of knowledge and advice crucial to the successful entrepreneur in a highly readable fashion. It is a must-read for aspiring and seasoned entrepreneurs who are facing today’s complex, volatile, and uncertain world. I especially appreciate the emphasis on thinking globally and adapting proactively. We have seen too many examples of yesterday’s winner relying on old models to their detriment. It isn’t easy … but it is exciting and gratifying to create your own business and work to see it flourish. The summary at the end of the book should be bookmarked on every entrepreneur’s computer.”
— Dr. Sherry Cooper, former executive VP and chief economist for BMO
and author of three books, including The New Retirement: How it Will Change Our Future

Utilizing his exemplary storytelling skills, Fred Dawkins has written an excellent book about entrepreneurship in a family setting environment and the many challenges that it places on the entrepreneur and the family
– Jeff Sheehan- author of HIRED! Paths to Employment in the Social Media Era