Freelancer or Entrepreneur HWC Transfermation Leadership Conference February

Freelancer or Entrepreneur HWC Transfermation Leadership Conference February 28, 2014

Freelancer or Entrepreneur n Presented by – Jennifer Jones, Transfer Coordinator at Roosevelt University – Owner of JL Jones 500

Freelancer n Looking for the freedom and profit that come from being on your own. n Build smaller-size businesses in which they are more comfortable. n The freelancer values the independence in running the business. n Seeking investors is not a priority of the freelancer as he or she is unwilling to relinquish control of his company.

Freelancer n You are a freelancer if you are interested in a better lifestyle, control over your time, and not too much risk. n You work for people who need you, and you'll view your business as a series of engagements with clients. n Your product is you.

Freelancer n You must understand the business basics – what you need to get you started develop a contact book n Get repeat commissions and find regular work n Join professional organizations n Invoice and chase payment n Determine how to build a regular and healthy income stream n Negotiate your rates

Entrepreneur n An entrepreneur works to build a business bigger than self. n Attract venture capitalists, and maybe even launch an IPO. n Dreams of transforming small business into a conglomerate, one that will eventually become a powerhouse in his industry.

Entrepreneur n To be an entrepreneur you're on a mission and you are looking to build an organization. n Want to be big and grow quickly. A key characteristic of entrepreneurs is their dream of becoming wealthy. n Don't mind owning a smaller chunk of business that he or she built, even compromising some form of control, or whatever it takes to make the business grow really big.

Entrepreneur n Entrepreneurs pursue lives of extremity -- extreme ideas and expectations, extreme workloads n Impelled by their dreams and passions. n Entrepreneur is willing to accept significant financial risks and challenges. n Entrepreneurs are willing to make decisions that will threaten their wealth and their reputations. n They understand that entrepreneurship is about risk.

Why Small Businesses Fail n Lack of capital and cash-flow problems n Lack of management skills n Overexpansion

Small Business Visionaries Bill Gates Co-founder of Microsoft Corp. Founded: 1975 Some see him as an innovative visionary who sparked a computer revolution. Others see him as a modernday robber baron whose predatory practices have stifled competition in the software industry. Regardless of what his supporters and detractors may think, few can argue that Bill Gates is one of, if not the most successful entrepreneur of the 20 th century. In just 25 years, he built a two-man operation into a multibillion-dollar colossus and made himself the richest man in the world somewhere along the way.

Small Business Visionaries Mary Kay Ash Founder of Mary Kay Cosmetics Inc. Founded: 1963 Like many business pioneers, Ash stumbled upon her entrepreneurial talents quite by accident. With her $5, 000 life savings, Ash bought the recipe for the skin softener, furnished a small storefront in Dallas, and hired a local manufacturer to create a line of skin-care products. Ash recruited a sales force of nine of her friends. Ash’s lawyer and accountant urged her to abandon her plans. But like most great entrepreneurs, Ash, who was then in her mid-40 s, ignored the advice of “the experts, ” and Mary Kay Cosmetics opened its doors September 13, 1963.

Small Business Visionaries Russell Simmons Founder of Rush Communications Founded: 1979 In 1979, he formed Rush Communications and began managing other local rap acts. One of the most successful of Simmons’ acts was his younger brother, Joey, who went by the name of Run. Putting his brother together with MC Darryl Mc. Daniels and DJ Jason Mizell, he christened the group Run DMC. In 1984, Simmons met Rick Rubin, an NYU student who also wanted to promote rap music. The two scrounged up $8, 000 and founded Def Jam.

Small Business Visionaries Philip H. Knight Co-founder of Nike Inc. Founded: 1972 Knight first came up with the blueprint for what would become the world’s No. 1 athletic-shoe company while working on his master’s degree at Stanford University. Assigned to write a term paper on starting a small business in an area he knew well, the former University of Oregon track star naturally chose running. He outlined a plan for breaking the stranglehold Adidas had on the running-shoe market by using cheap Japanese labor to manufacture a cheaper, better-quality running shoe.

Small Business Visionaries Mark Zuckerberg CEO and co-founder of Facebook Founded: May 2004 In February 2004, Zuckerberg launched the program from his dorm room with co-founders Dustin Moskovitz, Chris Hughes and Eduardo Saverin. In just a few weeks, more than half the school had opened accounts. The group quickly expanded to more universities and colleges, and that summer, Zuckerberg and his team moved to Palo Alto, Calif. , renting a sublet and hooking up with investors like Pay. Pal co-founder Peter Thiel and Napster cofounder Sean Parker

Small Business Visionaries Marc Milecofsky “Marc Ecko” CEO and co-founder of Ecko Clothing Founded: 1993 While studying pharmacology at Rutgers in the 1990 s, Marc designed t-shirts to pay his way through college. In 1993, Ecko printed up six Tshirts and founded his business with his sister, Marci Tapper, and Seth Gerszberg Marc Ecko Enterprises (MEE) is a full-scale global fashion and lifestyle company. Over the past 15 years, the group of companies that comprise Marc Ecko Enterprises (MEE) has grown to include: *ecko unltd. , Marc Ecko Cut & Sew, Zoo York, Complex Magazine, Avirex, and G-Unit