The Entrepreneurship Chronicle
Zero Million - The Entrepreneurship Chronicle
  The Entrepreneurship Chronicle :: October 2008 Issue :: 39

Editor: Ryan Allis
Sent With : iContact


QUOTE OF THE MONTH

Keep on the lookout for novel ideas that others have used successfully. Your idea has to be original only in its adaptation to the problem you're working on.

Thomas A. Edison


Dear [fname],

I hope you have made progress on your entrepreneurial vision and that you gain value from this issue of The Entrepreneurship Chronicle!

Entrepreneurially Yours,
Ryan P. Allis, CEO
iContact Corp.
2635 Meridian Parkway
Durham, NC
www.iContact.com


   Table of Contents
The Greatest U.S. and Emerging Markets Equities Buying Opportunity of Our Lifetime
Ryan Allis

As Warren Buffett says, "Be fearful when others are greedy, and be greedy when others are fearful."

It was a busy Sunday for Wall Street. It's about to be a fearful Monday. This may create one of the best buying opportunities of our lifetimes.

After recently adding U.S. Trust and CountryWide into its fold, Bank of America has agreed to purchase Merrill Lynch tonight for $44B or $29 per share.

Lehman Brothers will likely declare bankruptcy on Monday morning due to it's exposure to Credit Default Swaps and its inability to close the deal on a buy-out by Barclays. It will likely liquidate its assets in the coming weeks.

American International Group, the 18th largest company in the world, is seeking $40B in short-term liquidity from the Fed and will be announcing a restructuring on Monday morning which may including the sale of its aircraft leasing company.

In a move reminiscent of the private Long Term Capital Management bailout in 1998, ten major banks have agreed to create a $70B to $100B emergency fund to protect themselves from the results of the Lehman failure.

(Read the Rest of this Article Here....)

Piedmont Biofuels
Piedmont Biofuels

Piedmont Biofuels makes, markets, and sells biodiesel both through their member owned coop and at their Industrial location near Pittsboro, NC. Additionally, they:

  1. consult on setting up biodiesel businesses (plants and stations)
  2. provide fuel maker and lab tech training
  3. run a teaching/learning biodiesel plant and farm where worker-members make their own fuel from locally collected vegetable oil

Their farm is registered with the USDA for oilseed crop research and market gardening. They also lobby the NC legislature, as well as our national representatives on behalf of biodiesel and renewable energy. If you are interested, they even have an intern program that allows people to live on site and learn more about the organization.

(To learn more or get involved visit: biofuels.coop )

Clients Want Easy Shortcuts
Fabienne Fredrickson

I'm convinced that everyone's really just looking for a shortcut. Over the last 9 years of working with clients privately and in groups, the more I offer my products and services, the clearer I am that we all just want an easier way out. Well, not because we're lazy; it's more that we're completely overwhelmed.

Half the time, I feel like I'm drinking from an information fire hose. If you're anything like me, you're bombarded, and I literally mean bombarded by information, all day long. There's unwanted information (ads and pop-ups) and also WANTED information, stuff you asked for or paid for, and actually do want to get (like something you're trying to learn to improve yourself or your business). I didn't even mention the hundreds of emails I get per day that I can't always respond to, even though my intention is there.

Problem is, we're turning into an "attention deficit" society. Blame it on whatever you want (the media, the Internet, too many TV stations, spam, satellite radio channels, TiVO, etc.), we all don't have enough attention to spread out to do everything we want, including the stuff we don't. So we sometimes go into inaction mode and don't do ANYTHING

My motto has always been, "A strong focus now creates a different future later." However, it's getting harder to keep focused, harder to make decisions, and mental concentration on just ONE thing seems to be getting more and more rare (multitasking USED to be a good word in my book, but now I'm wondering if it's actually detrimental to success).

But not just for me. For my prospects and clients too. I'm noticing the people I work with also have WAY TOO MUCH to pay attention to. In addition to their own clients, they've got families, responsibilities, email, bills, and personal and professional development they need to focus on. And we haven't even talked about marketing yet. No wonder it's the last thing they focus on!

(Read the Rest of this Article Here....)

Advice For New Entrepreneurs
Jake Bohall

Being an entrepreneur requires that you are intelligent, focused, and passionate.  As such, most business fail in the first year because the entrepreneur either doesn't have those qualities, or makes one of the following mistakes.

No Business Plan:
How can you expect to accomplish anything if you haven't actually sat down and made a map of your goals.  A detailed, well-written business plan that maps out the comapanies missions, goals, and financials is a must if you intend to succeed. The biggest reason behind this is that it requires you to do some research into your industry, better understand your market, and have a cohesive grasp of what you intend to do.  Even more importantly.. if you want investment, your going to need something other than an elevator pitch.

Not being Passionate:
If you are not passionate about what you are doing.. just quit.  You have to have that fire deep inside of you that you forces you into battle when you try to sleep at night.  An unbridled attraction towards the business and concept that it promotes.  If the business doesn't excite you up front, you won't have the extra push that it takes to break through to success.

Being a quitter:
Some of the most successful businesses have started out as failures. If something isn't working... be adept to change, rethink, remold, and redeploy.. if that doesn't work, rinse and repeat.  re, re, re.. just keep going. The moment you stop trying.. You've failed, and so has your business.

(Read the Rest of this Article Here....)

Connect

Do you have a Facebook account? If so, Ryan's on Facebook too. Just look up Ryan Allis (the one at UNC-Chapel Hill). Send Ryan a message or a friend request.

Ryan also uses LinkedIn. If you want to connect to Ryan on Linked in just look him up and send a connection request to allisr [at] icontact.com.

Don't have Facebook or LinkedIn but still want to ask Ryan a question? Feel free to email Ryan at allisr [at] icontact.com. Thank you!

Closing Notes

This concludes issue #39 of The Entrepreneurship Chronicle. If you are not subscribed and would like to subscribe, please visit http://www.zeromillion.com. If you would like to contribute content, become involved with the zeromillion.com team, make suggestions, or provide feedback please feel free to contact us at info@virante.com.

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