Soulati-'TUDE!

I have always wanted to have a one-word title; here it is. I spoke yesterday on entrepreneurship to DeVry University in Dayton. The class was small, and I think I nearly gave one woman a conniption when I began to throw my energy into the classroom, but I had fun. No slides, just extemporaneous yak.

I helped one woman better brand her cake business; when she gave me its name, it sounded like kaka…so, I suggested something else, and she agreed. Another woman had a dream to be in the shoe business; I cringed and plowed ahead with these thoughts:

>>Research and understand your potential customer

>>Look at what’s trending in shoes today and how your product can be different (she wanted to be unique with shoes)

>>Conduct market analysis about the type of attire worn in the market (Dayton is a casual city)

>>Look at what people are buying that is different — textiles, artisan, African art and fair trade products

>>With all that on-the-spot thinking, I suggested she go into the flip flop business with all the matching accessories.

Here’s a bit of a debrief about my thoughts on being in business for yourself.

My 8-year-old announced she wanted to have a store (after the failed lemonade stand two years ago), so I commenced setting her up with the glass jars I’d been saving for rainy-

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day crafts. Her pencil jars are a hit; she’s pocketed $13 plus $.50 for two hand-made magnets.  She has an order for six more.

Now, that’s entrepreneurship.

A client of mine in 2008 declared that no one is an entrepreneur who doesn’t manufacture goods. I took that to heart; in fact, that ruined my impression that I, too, am an entrepreneur.

I’ve been launching companies since 1990; some with employees, health benefits and real office space and others, like Soulati Media, Inc., a virtual public relations firm that hires independent contractors and of which I’m an employee.  Alas, I deliver professional services in public relations, social media and marketing.  I am organized as a corporation and pay appropriate business taxes for my company and my person. I conduct my own business development to make money, and I do the work — you know, chief, cook and bottle washer.

Is that entrepreneurship?

Jobless claims jumped 12,000 to 500,000 last week, according to the U.S. Labor Department. This is the highest level in nine months. The Wall Street Journal (darn, if I can find that piece) recently wrote a story about the link between unemployment and lack of education suggesting a college degree is a must-have.

That said, how many people are starting home-based businesses to find alternative means of earning? This story suggests somewhere in the range of 38 million home-based businesses now exist according to the U.S. Bureau of Labor Statistics or the U.S. Census Bureau.

Those who launch home-based businesses…are they entrepreneurs?

I don’t much like the definition of entrepreneurship in Wikipedia (and, neither does Wikipedia, if you open this link). How do you define entrepreneurship? The definition is no longer cut and dry.