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eing a young entrepreneur can be very challenging, but the thing that makes everything easier is, “Loving the work that you do”. Nothing is hard nor impossible when you’re doing something you enjoy and something that gives you a reason to wake up full of energy and ready to go. I once felt that when things weren’t going the way I’d planned, I’d constantly make excuses that just maybe this wasn’t something I should be doing, but I enjoyed it so much and was want I loved most, so what was I doing wrong. The very thing we all lack at times, “Patience” . Patience is just one of the many keys to being a successful entrepreneur, no matter what it is that you chose to pursue, never expect things to happen over night, working hard, having consistency, faith and being patience is where results come in. But most importantly, a lack of patience is where discouragement finds it’s way in and dismantle your ability to stay focus. Never lose focus on you dreams and goals.
And remember these Words:
Patience | Hard Work | Consistency | Faith. With the 4 you can never go wrong. Best Wishes, Chaymeriyia Moncrief 3
Chaymeriyia Moncrief Founder
Contributing Writers Mike Delure Nichole Green McKenzie Sisters De’Metri Hanes Luke Landes Davidson Leslie Ad Design & Layout t.a.b.s | Design Group Advertising www.albusinesssource.com 334-4424-6537 Office 540 South Perry St. | Suite 3 Montgomery, AL 36104
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Before program you will be required to attend and complete registration and find out rules and expectations of each participant. 4
Each Participant who successfully complete the program will be included in the completion ceremony August 6.
SPARKING YOUR CREATIVE JUICES
How to spark your creativity best.
NEW IDEAS
7 ways to bring new ideas into actions. Most importantly 1st‌ Brainstorm. 5
Nichole Green, Founder & Creator of ITSNICHOLEGREEN “TAT-TEES”. Green gives her “aha moment” for the start of her TShirt line ITSNICHOLE GREEN.
NEXT GENERATION ENTREPRENEURS: The McKenzie Sister, Ryan & Madison are two young “treps” getting a early star as entrepreneurs. 6
Entrepreneurship is living a few years of your life like most people won’t so you can spend the rest of your life like most people cant.” - Warren G. Tracy’s student
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ONE WORD TO AVOID WHEN PITCHING... Prevent from using the word actually when pitch your product. Why?
QUITTING COLLEGE To become a entrepreneur, do you have what it takes to go this route. Story from Bill gates himself. From college to Billionaire.
THE ENTREPRENEURS STATES Four great places to take your start-up and grow. From California to Texas.
Fast Growth Franchises Expand to growth, fast growing franchises don’t always make the best franchises.
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Franchises under 10k and the top 10 of them all.
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ometimes you just need some fresh tips on how to think creatively. I know I do, anyway. So I went to ScrollMotion co-founder and chief creative officer Josh Koppel. It's Koppel's job to help big companies such as GE, Campbell's, and Hallmark think innovatively about how they come up with interactive tablet apps. "We're not supposed to be just taking PowerPoints, PDFs, and essentially putting paper on a tablet. That's the enemy," Koppel says.
In other words, he helps brands get out of creative ruts. Feel like you could use a little assistance in that area? Read on for Koppel's tips. Play around with technology in novel ways. Koppel says he remembers when QuickTime came out and instead of using it to watch movies he used it to slow videos down frame by frame. "I was so enamored with the idea of being able to slow 10
something down and that was clearly not what it was intended for," he says. "I remember once I took this video of myself doing all these different faces and then I just used the scrubber to create something like a digital puppet." Another thing he admits to doing: making music with a phone's dial pad. A lot of what I do is daydreaming and playing with stuff. I think play is probably one of the most important things in terms of creating innovation," he says. Immerse yourself in visuals. The walls of Koppel's office are covered in interesting photos, words, and other sources of inspiration. We live in this world of vast imagery. I love looking at Google Images and I love searching through imagery to inspire me. And that's a lot of what I do with my work inside my office. My office is curated into these little ideas," he says.
Use old objects for inspiration. As a creativity guru, Koppel's job is to help others tap their inner ingenuity. One way he does it is by leaving interesting oddities around the office for discovery by curious souls. "If someone has a visual problem that they need to solve sometimes [it helps to] look at an old comic book an old magazine, an old cookbook, and old Playboy that's in braille," he says. "I want to create environments like a puzzle that unlock the creativity that someone has by evoking some close relative of the problem they need to solve." Other things you might find in his space: a Rubik's cube, Mad magazines, and a working Atari 2600. Take a walk in an interesting locale.
With a problem in the back of his mind Koppel walks around Manhattan making free associations--mental connections between seemingly unrelated things. The idea for ScrollMotion actually came from an old-fashioned 24-frame lenticular--one that uses a sequence of images to create an animation--Koppel found in a store in 1997 during one such walkabout. "That was a very important moment for me and by looking at that I was sort of able to get an idea of the future," he says. "There are clues all around us to the problems that we need to solve and sometimes it's just about being open to those clues and thinking about them in a flexible way."
Use children as a litmus test. After creating apps for "Sesame Street" and Disney, ScrollMotion ended up using kid-friendly functions such as puzzles and drawing in apps for manufacturing and pharmaceutical companies. "All that stuff that we built actually had applications for these other types of more professional ideas and it was the fact that we had built them early on for kids that allowed us to think much more creatively about these problems that we had to solve," he says. Koppel also like to bounce ideas off kids because of their honesty. "Often I tell my ideas to children before I tell them to adults because I feel like children are absolutely fearless and they have no remorse to tell you that something sucks," Koppel says. "Not only will they tell me instantly visually by the way they act if it's good or not but if you can entertain a child then you're pretty sure you can entertain an adult." Want more of his unusual perspective? Check out his TED talk titled "Digital Dreams in an Analog World." In it, he shows the lenticular he found so many years ago that sparked the idea for his company. 11
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OW THEY SPARK THEIR CREATIVITY BEST.
I sit in a quiet place that allows me think extremely deep and imagine anything”
-D. Riley, Web Design Freelancer
I think really well showering, all kinds of ideas come to life” -A. Freely, P.R Specialist Intern When exercising, I listen to instrumental music, it allows be to really think”
C. Tisdale , Creative Communication
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Driving & walking gives a since observation to really take in everything around me, my creativity comes from my surroundings” D. Williams, Graphic Designer of Limitless Creations
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rainstorming is only a first step to innovation. What matters more are execution and implementation.
All of the above may seem obvious. Yet many companies struggle with it, say the authors of a new article from MIT Sloan Management Review. While brainstorming sessions "are frequently fun for participants, the output is too often considered impractical just days after the exercise." A 7-Step Idea Generation Gameplan
As a remedy, the authors--consultants at Innosight, a global strategy and innovation consultancy based in Lexington, Mass.--offer a sevenstep gameplan. Its purpose is to help you not only improve your brainstorming, but also to help you put your ideas into action. 1. Define the problem and solution space. The aim here is to create boundaries in the idea-generation process. What customer problem are you trying to solve? "Constraining the problem and solution space forces idea generators to delve into an area," note the authors. "The result is typically a much broader range of ideas that are on target and have real potential to move forward toward impact." 2. Break the problem down. Use a visual technique, like diagramming. For Innosight, this meant mapping each part of the MDR-TB drug supply chain. They then were able to literally see all of the barriers to effective distribution. All told, they identified 12 barriers. 3. Make the problem personal. How do you make a business problem personal? By getting down in the trenches and observing the individuals who are affected by the problem (and who would also be affected by your proposed solutions). "The goal is to make it as real as possible to the people who will be generating ideas," they write. 4. Seek the perspectives of outsiders. In other words, don't solve the problem in a vacuum. In this case, Innosight and its partners sought out public health experts, retail supply chain managers, and technology experts. "Having supply chain experts in each breakout group allowed us to make connections very quickly between specific chokepoints in the MDR-TB system and other supply chains where similar problems have been solved," they note. 5. Diverge before you converge. You want to breed some conflict into your discussions. Otherwise--as we all know--a meeting can quickly devolve into a time waster, where precious minutes are lost on the first ideas to be voiced, rather than what might be the best ideas. The solution? "Start by asking participants to write down as many ideas as they can individually for five to 10 minutes. In our experience, the technique has two benefits. First, it gives introverts--who may be shy about sharing their suggestions in a larger group setting--a chance to maximize their contribution. Second, having lots of ideas on paper before the discussion begins prevents the group from rallying around any specific solution too soon." 6. Create "idea resumes." An idea resume is one-page document listing the following attributes: how customers will learn about it or access it; what resources or processes are needed to make it a reality; and how the solution will achieve economic sustainability. The benefit of idea resumes is that (when they're finished) they allow all involved parties to scan and share ideas, in a way that invites "apples-to-apples" comparisons and "ensures that ideas are evaluated on their merits rather than on how well they are pitched." 7. Create a plan to learn. Your ideas, no matter how pristine they appear on their "resumes," will all contain assumptions that need testing. So the seventh step is to design these tests, and to spell out what you aim to learn from them. "And for businesses hoping to translate ideas into action," note the authors, "this is where the real work begins." 13
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ichole Green is an 19 years old sophomore at Alabama State University. She was born in Atlanta, Georgia, moved to Orange County California and lastly moved here to Alabama where she started her very own line of tattooed T-shirt called, ItsNicholeGreen. They are a line of t-shirts with celebrities tattoos printed on them. We spoke with Nichole and learned more about her tat-tees.
TABS: What was your “aha moment” to start your Tat-tees? GREEN: I came up with the idea ar ound Chr istmas time in 2012. At the time I was completely obsessed with the boy band One Direction. The boys in the band had recently got new tattoos and I thought they were really cool and the idea for Tat-Tees clicked in my brain and I knew I had to do it. I told my family about my idea and I don’t think they really understood what I was explaining. It took a few months to figure out exactly how I was going to do my shirts but I settled on heat transfer sheets and making each shirt my self. After my shirts went viral in April of 2013, I found a printing company in California to screen print my shirts. TABS: How does your brand stand out from other T-Shirt designers? GREEN: My Tat-Tees stands out because they are 100% original creations from my own imagination and I believe my shirts creativeness and originality is what appeals my customers. TABS: What do you enjoy most about your job? GREEN: I or der about 100 shir ts a month fr om a scr een pr inting company in Califor nia and r ight befor e we put each shir t in the envelope we sort them and spread them out in my family’s living room. Its an indescribably satisfying feeling to see all of the shirts and my favorite part is thinking about each person who’s going to receive it and where in the world its going to go. On the thank you note I include with each shirt, I have my twitter username and I tell my customers to tweet me a picture of them wearing my shirt. I’ve gotten tons of pictures and tweets about how happy my customers are with their shirts. TABS: How do you deal with competition offering the same style tees? GREEN: When I fir st saw imitations of my shir t, I got r eally upset I felt like they had stolen something fr om me. As I thought more about it, I felt like it renewed my competitive drive and I worked harder to add more styles to my store. TABS: To this very day, how many tat-tees have you sold? GREEN: As of Mar ch 24, 2014 I have sold 1,257 shir ts. I’ve sent shirts to every continent except Antarctica. TABS: How can our readers purchase your t-shirts and see your designs? GREEN: I sell my shir ts on a website called Etsy, which is like Ebay for handmade goods. My shop on Etsy is called, ItsNicholeGreen.
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yan McKenzie Tucker, 11 & Madison McKenzie Tucker, 8; are two of the many young Montgomery entrepreneurs. Both born here in Montgomery, AL these two young ladies have decided to start early. Ryan & Madison run their own line of fragrances and lotions. We caught up on how these girls got started and what motivates them to be entrepreneurs at such young age.
TABS: How did you two began making Perfumes and Lotions? SISTERS: Our par ents bought us a lip gloss and perfume maker for Christmas in ‘09. It was so much fun making our own flavors and fragrances and using our dad to test them on. Our dad began to help us mix colors and fragrances and he suggested that we start a business. TABS: Explain how the name came about? SISTER: Our par ents gave us the same middle name “McKenzie” and our granny “Tucker” began to call us the McKenzie Sisters, so our dad suggested that name and we liked it a lot. TABS: What motivates you girls most to run and operate your business? SISTERS: Our dad always tells us that we can be the ver y best at whatever we decide to do. He said that we do not have to work for anyone when we can own a business for ourselves. He said that if we start a business at an early age that we can make it better as we get older and that we can pass it down to our children some day. We started our business because we like people and we want to make money doing something fun from what we like to do. This is fun and does not seem like work to us. Out of everything you girls do, what do you enjoy most? We get to give out our business cards and tell people to go to our website. A lot of people ask us about our products and we like to show them what we have.
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have watched more salespeople and companies pitch their ideas over the years than I care to count. And during thousands of interviews with consumers about how they use different products and services and respond to marketing messages, I have honed the craft of ferreting out telltale signs of lies and omissions.
From that experience, I am going to let you in on a little secret about a word you should stop using immediately. It is "actually." For the experienced listener, "actually" is a dead giveaway of an area that at the least needs to be further investigated, and may point at a deception. Let me explain. When you use the word "actually" properly, you are comparing two thoughts and providing clarification. For example: Question: "Did you go to the store for milk?" Answer: "Actually, I stopped at a gas station." In this example, it is easy to see why someone might use the word . The original question suggested that you went to the store, but you might not think that a gas station is really a store. In your mind, you are comparing and justifying the decision to stop at a gas station rather than a grocery store. Back to the business setting: Extra words used in a sales presentation or investor pitch are unnecessary. They subconsciously point listeners to question if there's more unspoken information. The word "actually" serves as a spoken pause, giving the presenter's brain time to catch up and decide how to resolve the conflict in their mind between the question asked and reality. A common example of how this plays out in a sales presentation or investor pitch: Question: "How many customers are using the platform?" Answer: "We actually have over 100 companies." The word "actually" isn't important to the answer. It's extra information that makes the listener curious as to why the word was added. An astute investor or customer will follow up with a request to see a customer list or to get a customer referral. In a customer interview, the customer may use the word as a way to please the person asking the question: Question: "Do you use this product?" Answer: "Actually, I have." To the experienced listener, this answer actually (get it?) means, "No, I have never used it" or "I used it once and it didn't do what I expected or needed." An appropriate follow-up is to ask for a specific example or time that the function was used. Perfecting your pitch requires attention to what you say and removing anything that distracts them from your primary message. As a listener, keying in on the word "actually" can clue you in to the subconscious and give you a competitive edge.
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or entrepreneurs serious about keeping a work-life balance, Vermont may be the ideal place to get started. When hard-charging founders need a break from the stressful startup life, they can relax at their pick of beautiful hiking and biking trails, numerous camp sites or any of 60 golf courses sprinkled throughout the state.
Or they can dream of growing big, like Ben & Jerry's, Green Mountain Coffee and Vermont Teddy Bear Company, all of which got their start here. Vermont's rich venture capital network combined with availability of low-cost small business loans has been attracting technology, biotech and life science startups, said Betsy Bishop, president of Vermont's Chamber of Commerce. Patent-rich Vermont takes its growing entrepreneurial community seriously. This year, the state passed a law cracking down on so-called "patent trolls" who make money not by creating products themselves, but by pursuing dubious infringement claims against businesses that supposedly encroach on their patents. 20
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hen startups grow in Louisiana, they're in good company. Louisiana has a rich history of fostering young businesses, some of whom eventually evolved into large companies.
Delta Air Lines, for instance, was born in Louisiana in 1924 as an aerial crop-dusting operation. It became a commercial passenger carrier in 1929 with service beginning out of Atlanta. And the nation's first offshore oilwell was set up in Caddo Lake in northwest Louisiana. Many startups are attracted to Louisiana's traditional fishing and oil and gas industries, but the state's growing technology, life sciences, music and entertainment sectors also are luring new businesses, said Scott Martinez, president of the North Louisiana Economic Partnership. "There's a 'coolness' factor inherent to many parts of Louisiana that's particularly appealing to the music, film and arts communities," said Martinez. The city of Shreveport in particular is quickly becoming the epicenter of Louisiana's growing film industry; startups in the field enjoy sales tax rebates and other local incentives. Entrepreneurs in the state can take advantage of affordable living costs and low taxes too.
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he startup culture is part of the Golden State's DNA. California is one of the most dynamic places to open a small business. After all, Silicon Valley is the heart of the nation's tech startup scene. Meanwhile, the state's dynamic immigrant community is opening small businesses at a fast clip.
Innovative founders here enjoy major advantages, including a strong talent base, an established network of venture capital, a big consumer market, and top-notch private and state research schools, said Allan Zaremberg, CEO of California's Chamber of Commerce. Another plus: its proximity to key international markets such as China and Japan, he said. Still, there are a few obstacles to launching a startup here: Cumbersome regulations, high labor and health care costs still are part and parcel of doing business in California, Zaremberg said. 21
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allas earns high marks from entrepreneurs for its low taxes and minimal government interference.
What's more, the Dallas metro area is huge, and it's only getting bigger. The Dallas-Fort Worth-Arlington Metroplex has 6.7 million people and is the fastest-growing region in the country. As major companies move to town, smaller companies are able to grow by providing services to them. When European furniture maker Timothy Oulton set up its first U.S. showroom there last year, it needed a company to produce promotional video. Dallas HD Films landed the gig and has since been hired again to produce video for its factories in China. Hussain Manjee, the video company's CEO, said they would have been overlooked in a more established city like New York. "I don't think I could have done this in other cities," Manjee said.
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ABS Magazine got the chance to catch up with Writer, Manager, Entrepreneur and Fashion designer, Mr. Mike Delure himself. Delure has written 2 novels, is managing a super group and with all happening, he has found his way as a fashion designer, designing men and women pants and innovating a line of women dresses and skirts. Find out more about Mike Delure as we got a great inside of his work and upcoming projects. TABS: What inspired you to write your first book? DELURE: Well in 2011, I wr ote a movie called “Onyx Cielo: The Tree of Transformation.” It took me about four months to write the entire piece. After completing the script I began letting people sample my work. They all loved it, and most of my readers suggested that I have it published as a novel first and then push it as a movie. After reading it several times myself, I decided to take my readers’ advice and transform my script into a novel. “Onyx Cielo” became my first published novel that next year. TABS: Are the happenings in your novels based on someone you know, or are they based on personal experience? DELURE: All of my mater ial feels over tly r ealistic because of my writing style. It’s easy for me to make my characters seem real to my readers because, all of my characters are very real to me. My imagination is elevated in such a way that I get lost within the actual brains of the characters that I create. I believe when I’m writing, I am all of my characters both male and female. This makes it very simple for me to tell my stories from different vantage points. 22
I may occasionally use a past situation that I have witnessed in my life, and just remix the verbiage and or dramatics of the situation to fit the current storyline. I’ve never published anything based on my life and I only plan on doing so one time.
TABS: Do you see writing as a career or a long term focus?
DELURE: Yes. Wr iting is my passion. Cr eating char acters and the colorful fabrics of their lives gives me a joy that could only come from one place. My God gave me this gift, to make not only my readers TABS: What are some I was dead just six short happy but myself as well. My writing glocurrent projects you’re rifies him. In and through me he has years ago, but now I’m overseeing or working on? shown the world that no matter what we DELURE: One of my cur go through we don’t have to look like alive with a vibrant never rent projects are, focusing dimming light shinning inside of what we’ve been through. I was dead just on the development of the six short years ago, but now I’m alive me” sound of my super group “Iwith a vibrant never dimming light shinning inside of me, that makes me wonder 10”. Some of the group’s now will I ever stop being so happy and tracks are reminiscent of at peace with myself. “Pretty Ricky” and “B2K”, while some of the harmonies and arrangements in some of our newest songs are more in line with “Jodeci”, and “New Edition”. The TABS: Do you recall how your interest in writing smooth tones of our R&B, is often accompanied by originated? thoughtful rap lyrics that always leave our listeners, and audiences wanting more. We are currently recordDELURE:I do r ecall, but to be honest I never wanted ing every day with a musical genius, Mr. SlyceNDyceto be a writer. For as long as I can remember I always music.com himself. These young men have the potenwanted to be an actor. Years ago I auditioned for, and tial to be major in the music game for years to come. was ultimately awarded a partial scholarship to a very prestige film school in New York. My mother decided Of the four current members; Hotboyy Josh will evenagainst signing the Parent Plus loan that would enable my tually move on to model and probably act as well. K.P. entry into the school. I begged and pleaded with my will, when the time is right, step forward into a vibrant mother for days to reconsider. The director of admissions solo career. De’Aries is so multi-talented I couldn’t at the film school even called her personally and exeven begin to fathom what all he will accomplish beplained to her how huge the opportunity would have been fore the end of his career. Last but not least the lyrical for me, but in the end she still said no. I refused to give giant Deandre “GQ” Robinson will one day soon lose up though. I realized my dreams of attending the film himself in his art, and tap into what I already see in academy were over. At that point I had to find another him, and begin pumping out Drake quality music nonway into the industry. I decided I would write my own hit stop. My hope is that they will remain together for ten movie and cast myself as the lead role. years or better, but I’m prepared for whatever the fuTABS: What are some entrepreneurial ventures you ture may bring. have going on? Another project is my clothing line “LoveDelure” is DELURE:I closed my fir st clothing stor e in Alabama forming together quite nicely. I’m currently designing to relocate the entire operation to Texas and Florida. I pants for men and women and also working on some have employees selling my products in 10 different states innovative ideas for dresses and skirts. right now and I plan on opening actual physical locations As far as my writing I am now simultaneously writing in each of those states over the next three years. Two five novels; “Take My Breath Away 2” (When Love years from now my “LoveDelure” and “Graffiti Delure” Calls), “Onyx Cielo” Book 2 (The Tree of Illuminastores will mainly sell my clothing lines and accessories, tion), “Carlton Lotus” (Underneath the Orchards), as well as my books and my group “Carla’s Cabinet”, and “The Art of Beauty”.
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I-10’s music. I also have a shoe line that is going to change the game for at least the next ten years guaranteed. No offense to Mr. Jordan but he has enough money to last several lifetimes, I’m trying to rock nothing but Delure.
Also my business partner Cortney Rogers and I are also looking into real estate opportunities on the West Coast. Nothing on that is final yet, but if the terms go as planned, we will begin renting out properties in California early 2015. TABS: What advice do you have for other writers looking to write their first novel? DELURE: To any aspir ing author s I would say, when you wr ite, make the story enjoyable to yourself . .. If you write to please others no one will enjoy your work. In any project we do in life there will be areas of said project that we will enjoy more than others. The trick is to work the hardest on the areas we don’t enjoy as much, and then do what we do best with the areas that made us fall in love with our craft in the first place. TABS: What is some advice you would like to give to aspiring entrepreneurs? DELURE: To any aspir ing entr epr eneur s I would say choose a mar ket that is not alr eady obviously satur ated. You have to give yourself a chance to be successful. And if you choose a field that is not rare, make sure you’re capable of being the best at it. Work your abstract mind to its core and create something new and intriguing. Don’t just remix what you see other people in your field doing, this will never work for an extended period of time. TABS: Do you have anything specific that you want to say to readers, supporters and fans of your work?
DELURE: I want to tell all of the I-10 and LoveDelure fans, customers, and supporters, that we love y’all now and we always will. This journey, this opportunity, and this lifetime are nothing without every last one of you. To all my Dreamers I say dream on… When you look at me know that ANYTHING is possible if you work harder than everybody you know, and you believe in yourself first. Never listen to haters, simply ignore them and focus on where you are now and where you’re going next. Always do what you love and keep hateful critics out of your circle. If someone around you is constantly taking… and they never even attempt to give back delete them from your circle immediately!!! And Love God, Love Life, LoveDelure.
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ove Mr. Delure Himself, well take part in some of his latest projects and even some blast from the past work. Find both books from Delure, “Take My Breath Away” & “Onyx Cielo: The TREE of Transformation”. 24
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adies and gentleman from the realm of Harry Potter, and Twilight... Allow me to introduce to you "Onyx Cielo." One of the greatest fantasy book to movie series of all time. This series based solely on the life and times of an awkward little black girl who will grow into a warrior princess. This is no ordinary fantasy series, De'Lure has found a way to combine fantasy with some urban realities that we can all relate to no matter our age, color, or creed. This is guaranteed to be one of the next huge pop culture phenomenon’s. The story of young Onyx, who is the only black girl on her planet, will take you on an epic journey through a wondrous world that could only be born thorough the pure unparalleled imagination of Mike De'Lure... Do not get left behind this series will continue to amaze us all for years to come. 25
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andsome ex-high school football star Keldrick “K.C.” Cole finds himself trapped in a relationship that used to mean the world to him. His high school sweetheart and the mother of his child, the thick gorgeous red bone Whitney Powell has always been his spine and his heart. Back then everybody knew K.C. was going to the NFL. But at the end of his senior year he suffered bone shattering injuries that put an end to all his dreams of NFL stardom. After dropping out of high school, and surviving a short prison term K.C. came home to Whitney. Ever since he was sixteen years old, K.C. knew one day he would marry her. At least until he met Cam. Cameron Jiles, the beautiful dark skinned waitress forces K.C. to reevaluate his entire life.
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any successful entrepreneurs, business owners and world leaders have something in common. When asked how they achieved their success, they point to a role model they knew personally or were familiar with during their formative and most inspired years. The role model lived a life that seemed appealing to them. That’s how many young entrepreneurs look at people like Bill Gates today, whether or not they’re fans of Microsoft. After all, Bill Gates dropped out of college and is now the world’s second richest man. That’s some serious inspiration for you — not because of the money but because of the opportunities brought about by wealth. Gates’ story isn’t exactly rags to riches. He had opportunities many other kids in high school did not have, and he was the kind of person who sought success and worked hard to learn what he needed to know. He didn’t fail out of college like many drop-outs; he made opportunities for
himself that made his college education superfluous. That’s not going to be the case for everyone who considers dropping out of college to start a business. The idea of striking out on your own, accepting a significant amount of risk, betting on yourself to succeed like Bill Gates despite the odds against you, is not a decision to be taken lightly. For Gates, Michael Dell, and other successful people held up as examples by a crowd turning against higher education and its higher costs, their success story was written before they even entered college. So how do you know when you’ve got what it takes to abandon the educational system in favor of a potentially lucrative career as a major force in the world? Before you even get to questioning whether there’s a market for what you’d like to do, you have to evaluate yourself and determine whether you’re the right person to make this life change. Is there anything else you could see yourself doing? This is a question I remember from my time in college. When selecting a major for which it would be very difficult to make a great living, professors will often start the introductory class by asking this question. I studied music education in college, and took most of my classes with students who were studying music performance. It can be hard enough to earn a living as a teacher in a field like the arts, but being a professional classical musician is just asking for financial struggles unless you can be one of the top performers in the world. Someone like Josh Groban may be the Bill Gates of music; many people aspire to follow in their footsteps, but few will be remotely as successful. If you’re going to pass on the typical path of acquiring a college degree, working for a company, and possibly building something of your own over the course of time in favor of dropping out of college and getting started now, you’re going to need passion and determination, as well as a singular focus on what you want to achieve. If there is any doubt, any thought that you could be just as happy doing something else, you’ll always have a psychological cushion. The fear of having no other choices will help propel you forward..
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Do you have a support system? Here’s a paradox. While on the one hand, you have to convince yourself that the alternative path is the only thing you can see yourself doing, as I described above, it’s a risk that must be mitigated. Had Microsoft failed in its early days, you can be sure Gates’ family and friends would have been able to provide emotional and financial support as he changed direction. Dropping out of college to start a company in an untested field is a risk that you should be able to hedge. At worst, he could have re-enrolled and finished his degree, paving the way for him to take another chance later on. Having the mental capacity to quickly adapt to the quick changes that abound in a new field will serve you well. The singular focus must be flexible so that when the world trends in a different direction than your original plan, you’re able to adapt. This is a skill that you must develop well before you consider the crazy idea that could lead to your being the next great entrepreneur. Are you succeeding in school, and if not, why not? If you seem to be having trouble with your college courses, what makes you think that starting a business is going to be any easier? The most famous drop-outs probably would have excelled in their studies had that been the outlet of their determination. If you fail in school, changes are stronger you don’t have what it takes to succeed in the business world at a high level. There are many reasons you might not be performing well in college, though. If you are spending all of your time working on your business ideas, giving those particular goals the attention that should be reserved for your studies, your professors might not be happy, but you could be honing important skills that will help you succeed later.
Are you unique or do you have a rare skill? In 1993, if you knew how to design web pages, you could have quit college to start a business. You would have owned one of the first website development companies, and if you handled the business well, you could have made a name for yourself in a field in its infancy. Twenty years later, middle schools teach students how to design websites, and there is little novelty in starting a web development company. Even if your skill as a college student is designing mobile applications — yesterday’s web developers are today’s app developers in terms of specialization — you’re competing in a wide open field. Bill Gates and Steve Jobs found themselves with the skills needed to be leaders in the burgeoning era of personal computing. The latest similar movement in the tech world has been mobile computing, and that train has already left the station.
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Have you already built strong connections with other successful entrepreneurs? If not, you’re starting with a significant disadvantage. If you don’t already have a mentor who is succeeding in the world in which you want to succeed, and if you haven’t grown a network of people who are enthusiastic about your vision, you’re going to start off alone. No one succeeds alone. There’s more to dropping out of college than just quitting your classes if you see this alternative path of success for yourself. You can’t wait until you’re already free from the shackles of lectures and labs, out of the dean’s reach, before you start forming your business or taking the first steps towards your individual success. Do you accept the fact that the failure rate is significant? It takes a special kind of ego to believe you’re different than just about everyone else. It’s not that most businesses fail — though a lot do — it’s that the chance of building a business that does more than just get by, providing a life for the owner better than he might have had as a college graduate, is much lower. A few are a cut above the average, though. And, although statistically it’s unlikely, it might be you. You have to accept nothing but the best from yourself and those around you to succeed. You have to demand excellence and you have to put other priorities aside. Be honest in your self-analysis. If less than all of the above applies to you, you may not be right for following in the footsteps of Michael Dell, Bill Gates, Steve Jobs, and some of the other names that the media have thrown around as examples for entrepreneurialminded students considering whether to drop out of college. A recent article in The Atlantic postulates that the media’s emphasis on role models who drop out of college is making the country poorer — most who follow this trendy path find themselves in financial trouble rather than becoming billionaires. The idea of a successful college drop-out is a myth, despite the glorified stories of those who beat those odds. These are the less-than-one-percent. While the modern interpretation of the American Dream seems to be that anybody could be the next Bill Gates, the vast majority of those who try will not reach that particular level of success. The best thing one might do is learn to be satisfied with much less than stardom. 30
he label of “fast-growing” is one the most sought after in the world of franchising. But despite its appeal, fast growth alone does not always make the best franchise opportunity, advise Rod Bennett, co-founder of Franfinders, a Charlotte, north Carolina, franchise broker and consultant. “I always caution people, don’t go for quick dollar,” Bennett says.
When a franchisee is contemplating investing in a rapidly expanding franchise system, it is important to consider the reason for growth, Bennett says. Some franchises grow rapidly because of the short term popularity of fads or fashion, while other are grounded on long term trends. That’s a critical distinction. “You don’t want something that going to run out in three years,” Bennett says. To help franchise candidates determine weather a concept has staying power, he suggest looking for high-growth businesses that offer products and services that aren’t based on fluid fashion or style but on fundamental needs addressed to expanding markets. Weather system growth rates are high, low, or-in between, the franchise must have infrastructure to support it. Without that, rapid expansion can turn out to be a mistake, Bennett says. If a concept is based on a solid trend, however and can effectively help franchises with site selection, marketing, training and other needs, rapid growth is one of the most attractive features a franchise opportunity can offer to would-be franchise. BodyBrite presents a appealing combination of fast growth and well-established concept that serves an enduring need. The Minneapolis-based chain of hair removal and skin rejuvenation centers has more than 200 centers open in Europe , the United Kingdom, Mexico and Central America and, since being in 2012, has grown from four locations in January 2013 to 16 today. 31
S
ome people believe francizing can be extremely expensive, but think again. There are a number of franchise businesses that has low capital and investment rates. Here are 4 of the named lowest franchises in U.S.
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here are some franchises that have been named “Top 10�. Some of them just so happen to be some our favorite restaurants today, like: Subway, McDonalds, & Pizza Hut just to name a few. Restaurants
Automotive Paint Bull Locations Units: 900 Liquid Capital: $1000 Investment Ranges: $5000 Cleaning Jani-King Location Units:10,991+ Liquid Capitol: $995 Investment Range: $995- $18,000 Gaming CPS Gaming Locations Units: 60 Liquid Capital: $899 Investment Ranges: $899 Metro PCS is among ver y affor dable francizing there are not set investments although ranges began at $3,000.
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Subway Locations Units:26,240 Liquid Capital: $30,000 Investment Range: $85,000-$262,850 Pizza Hut Location Units: 7304 Liquid Capitol: $350,000 Investment Ranges: $297K-$2.1M
Fitness Anytime Fitness Location Units: 1,839 Liquid Capitol: $70,000-$100,000 Investment Range: $56,290-$353,900 Barber Supercuts Location Units: 1,124 Liquid Capitol: 150,000 Investment Range: 108,750-203,600
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ven the most honest and forthcoming franchisor can’t tell you what it’s like to be a franchisee. You should take the time to call existing franchisees and get some candid answers to your questions, so that's exactly what we did. We caught up Lewis Grier , former franchise owner of 2 Prattville, AL Subway restaurants and now business owner of an hometown catering business Kater and Kuts based in Tahoe. He gives us his thoughts on franchising, & his ultimate experience during his franchising period.
T.A.B.S: What encouraged you to franchise in the restaurant field over all others? Grier: I ultimately enjoy cooking with my wife and children, I’ve always had the intent to franchise in a more dine-in setting than fast food. But, before I could further plan, I came across a partner, who suggested Subway. T.A.B.S: How did you and your partner go about opening? Did you train or was there already some existing experience? Grier: Before we open, we went through a full 8 months of a planning process, we then contacted Subway’s corporate to began the franchise process. One of the first thing s they offer are training and becoming familiar with all the business aspects, Prior to going in, I had only home knowledge to foods and cooking and my degree in accounting which gave us a bit of leeway to what we were doing financially. T.A.B.S: Did the training your franchisor provided really prepare you to run this business or di it just make you knowledgeable of the company basics? Grier: Oh, yes they gave awesome training. From being a sandwich maker to marketing and running the business the entire 1000 yards, I learned a lot of new tricks to marketing and advertising and really running a successful food chain. T.A.B.S: How is your experience different from what you expected? Grier: Going in it was everything I expected, although it was all new to me nothing was to hard because I became to really enjoy the predicament. One thing I did not expect was to continue to have such large team of people from subway corp to continue at my side and continue to help push the business at its peek, I honestly thought once I was in, we were on our own, so it was awesome. T.A.BS.: What do you think of the marketing and advertising? Does the franchisor advertise as much as you were promised it would? Grier: I think advertising is a key essential to business and it does work, as for my franchisor they do a number of marketing of course you have television advertising, radio broadcasting and so forth, they did give us exactly what they ultimately promised us. T.A.B.S: What did it cost you to build and start the franchise? Who were you able to afford investment? Grier: Wow… it only cost a quarter a million apiece, which was a great big amount, we ended up getting business loans and withdrawing money from our personal accounts. It was big gamble but without an partner, I may not have went along and invested. But 10 or 12 months later… The profit actually began rolling in on both ends. T.A.B.S: If you had it to do all over again, would you choose the same business and franchisor? Grier: Yes I will, I had an amazing experience with my chain, partner and extended family, it open more doors for me to pursue other business ventures, investments and gain more experience and access into the business realm. T.A.B.S: What is some ultimate advice you’d give to others wanting to franchise a chain or franchise period? Grier: I don’t want to give advice on a specific chain or field, but I will say, always have some knowledge of what you’re getting into, always accept the help of your franchisor, don’t feel like you can do it on your own, (I speak from personal experience there), if possible find a partner to go along the journey with, it makes things a lot less stressful and it’ll all be worth while in the end. T.A.B.S: Where are you and your partner now? Grier: Now I am currently operating along side my wife in our catering business Kater & Kuts in Tahoe, we are looking to expand out business to an global franchise access, as for my partner he has invested real estate and still currently operating Subway. 34
Pamela D. Foster
Licensed Massage Therapist
750 US Highway 231 Wetumpka, AL 36093 Ph: 334.303.3994 Fax: 334.730.4839
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AL Lic. No 3382
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