Protecting Your Dream (5 min. read)

One of the main questions we all face in life is when people ask us about our dreams or future goals. This to me has always been a very personal and sensitive subject especially as an entrepreneur. I have often found myself only being comfortable sharing my smaller goals with new people I meet. Its my way of protecting my dreams. Not everyone is going to think like you and it’s already hard enough to commit to a vision. When people constantly question you, if you are not firmly grounded and committed, naturally we start doubt and question our path. When people ask me this question, I reveal a little at a time depending on how well we know each other. Your dream is like a special and extremely personal movie that only privileged people in your inner circle can preview before the release date. Its okay to share a short preview but I say let them see the final production and discover your dream on their own.

Entrepreneurship sucks. That’s why not many people do it. It’s a huge risk. You may lose every single penny that you put into it or more. Not to mention the countless hours and effort. That’s why it’s a lifestyle. We endure temporary sacrifice for permanent gain. This is what separates creators from consumers. We hustle and endure the rough times to give us time to create and work on our dreams. I truly believe we were all born to create. Its something natural deep down inside each of us that if pursued, can turn into to some of the greatest creations in the world. But why are people so distracted to consume instead of creating? Well, it all boils down to the institution of marketing and advertising. Digital marketing experts say on average are exposed to 4,000 to 10,000 advertisements each day. This is absolutely crazy! And, also the reason why many people find themselves trapped in the consumption cycle. This is why we crave those restaurants that we see on commercials that we can’t even try because they aren’t in our state. Marketing experts have capitalized on this strategy in almost every industry; Jordan with his re-releases, Starbucks with their seasonal flavors, Supreme with their weekly releases, and the list can go on and on.

Unless you also have a father who can lend you a million dollars to start your business, its going to take a different lifestyle and sacrifice in order for you to accomplish that dream of yours. And before you even start, its even more important to protect your dream. It’s a little baby that you must take from conception to adulthood so you can create a legacy to pass on and create generational wealth. Treat it as a special treat that only genuine and deserving people get to enjoy. It’s what has helped me stay on my path with confidence and peace of mind. My rule is “Don’t give people a piece of your dream if you will make you lose you peace of mind.” Some may say that this method is just a way to cope with fear of failure and embarrassment but its not that you won’t share your dream with anyone. You only share it with those who you deem are deserving. It is not a right for people to know what you are pursuing. Some may feel entitled but trust me, if you just stick to my rule, you will find yourself more at peace in pursuing your dream.

Navigating Uncharted Waters

Now that things are finally getting back to normal, many of us have already either sunken back to our normal habits we had last year or are at the helm of their ship navigating through uncharted waters. When you decide to commit to a lifestyle change, it can bring about many emotions and feelings. Will I fail? Will I succeed? Will this plan really work? Am I strong enough to get through this? Will my friends still be there? This anxiety we feel is very normal and its our bodies natural way to respond to the unknown. The difference between those who do succeed and those who stumble is where that fear is placed once it has been acknowledged. Elon Musk said it best,

“Some people don’t like change, but you need to embrace change if the alternative is disaster.”

Now you can see why yesterday his brand new Gigafactory broke ground in Shanghai as he became the first wholly-owned car plant in China operated by a foreign company. Navigating through uncharted waters is what entrepreneurship is all about. Yes, there may be times when you fill like your boat is taking in too much water or may capsize but you have to keep going no matter what. The alternative as Elon says, is disaster and being stuck in the same financial situation. Even if your boat sinks, reflect on the lessons, renew your mentality, and build your new pathway to success.

Our economy is beginning to see the effects of the purchasing power of millennials and it is moving in favor of smaller and local business. According to a report by the Boston Consulting Group, “Between 2011 to 2016, large brands in the US lost 3 percentage points of market share to smaller companies equating to $22 billion of sales. ‘This is the first time we’ve seen this in 50 years,’ said Jim Brennan, partner at BCG.” We are here, and we are making money moves. Our money is moving away from corporate domineering giants to powerful community-based businesses. Does your community have a need? Is there a gap in the value chain? Do I have skills and abilities that can create a product? Do I have talents and abilities to perform a service? These are all questions you can use to figure out how you can get your piece of this ever-growing pie. Even if you don’t feel you want to create something new, there are plenty of opportunities own a franchise and you’ll be surprised and how little some cost to invest. It always you a perfectly designed map so you can easily navigate your uncharted waters. 

Here are some of my top business ideas to consider in 2019:

Start a cleaning business.

The startup costs are under $2,000 and it makes for a great workout. You can easily start with friends, family, and local offices. Marketing is easy and since its an ongoing thing, you can eventually hire staff and have your money work for you.

Buy a franchise.

I know this may sound scary and only for the wealthy, but Chic-fil-a offers their franchise for a only $10,000! If you don’t believe me, check their website. Check out this amazing article of Ashley Lamothe who became the youngest franchise owner at 26 when she opened her store in downtown Los Angeles. (And yes I have eaten there many times hoping to get a chance to meet her 😊) 

Make a product from your home.

Think of all the products you use in your life and how many times you have had to make the same purchases. Remember, craft items and online sales took up a combined 14 % of all sales made last year. Create your product and open a Shopify account already!

Write a book.

Now more than ever its so easy to self-publish and sell directly online through Amazon. This guy makes half a million because of his hit book. You never know which of your ideas or creations may take the interest of consumers and become viral. This is the cheapest ways to start a business. Shout out to a new author, Kara Glenn, who recently launched her book last week.  

Buy a 3D printer.

The possibilities are endless. You can create custom prototypes for fellow entrepreneurs or spare parts online. This is a new industry that will become another huge game changer in the future. Here’s alist of 30 entrepreneurs banking on the unlimited possibilities. 

The Year of the Side Hustle

      Welcome to 2019! This undoubtedly will be the year of extra income. People all across America are creating their side hustle and its time for you to get on this train. A recent study by Bankrate found that nearly 4 in 10 Americans have a side hustle. No longer are people relying on corporate America to satisfy all their financial needs and even the government employees have been on shut down. Job security is as secure as the amount of income streams you have. They say the average millionaire has seven and if you are not currently one of those people finding ways to create additional income streams for your future, you are behind the times. Times are changing and one of the major trends in the economy is this rise in the freelancer community.  It’s like people all over America are finally taking control of their time and decided to work on their terms, or at least hustle a little harder.

     However, exciting as all of this may sound, the current landscape of entrepreneurs is like taking time machine to the 1920’s. According to the Kaughman Foundation, a well respected non-profit specializing in entrepreneurship, 80.2% of entrepreneurs in the U.S. are white and 64% are male. This does not reflect the demographics of the population and we are the generation that must do something about it. There is so much room in the market for minority entrepreneurs to engage the economy. Whether you have a secret family salsa recipe or make custom furniture, there is always a way to create a side hustle.

Some of the most popular side hustles of 2018 were:

1.       Home Repairs/Landscaping (12%)

2.       Online Sales (7%)

3.       Crafts (7%)

4.       Child Care (6%)

I guarantee that there are many of you talented individuals out there who can hustle to create something that can add income to your life. The average side hustle last year brought in an average of $686 dollars per month! Those funds could easily be used to pay for a web hosting site for online sales or the additional inventory you need to launch your next product. We must really think creatively to uplift ourselves from this paycheck to paycheck cycle. Plus, you will definitely have some fun doing it. If you are hesitant, then start small. If you want to go big and get funding, every year, the Black Enterprise publishes its top 10 list of grants to help minority small businesses. https://www.blackenterprise.com/top-10-grants-financing-black-businesses-minority-entrepreneurs/

 Its a great place to start your search for funding. If your idea or business has a good model and plan, you never know what angel investor may come to your aid. 

Whatever your reason might be, this is your year to do it. Our lives are evolving each day and each action or inaction you take will bring you closer to financial peace or financial pain. Let 2019 be the year of your side hustle. My goal will be to help that become your main hustle as you step into full entrepreneurship and becoming a business owner. 

Where do I find the time to create?

 

    We have been taught this standard “8 hour” work day since birth. We are told to get a good “8 hours” of sleep each night. We go to school for “8 hours” (including transportation) a day. We get our first job and work our first “8 hour” shift. This concept of “8 hours” just permeates our lives. How did this come about, and should we really live our life by this standard? I tell you, as an entrepreneur, this concept can be very detrimental way to think. Back in the 1800’s, when many Northern and Western Europeans migrated to the U.S. in huge waves, their main goal was a better opportunity from famine, wars, and bad government. This wave brought a huge workforce to America and fueled the industrial revolution with workers averaging 100 hours per week! This is where we get this iconic picture of the steel workers eating. Happy as they can be in a better opportunity.

     I’m telling you, this is why the buildings in New York look like they do, the roads across the country look like they do, and many other amazing infrastructures in the U.S. exist because of this time. Also, there wasn’t much regulation. This became the origin of an the phrase, immigrant work ethic.  Flash forward to 1869, when President Grant finally limited the work day to 8 hours, but only for government employees. It wasn’t until over 50 years later when Henry Ford declared a 40 hour work week 5 days per week, when the rest of America followed. Companies even at that time took care of their employees with pensions, retirement funds, and the government even added the Social Security Act. Times were great for employees and dedicated the 40/40/40. People who would work 40 hours a week, for $40,000/year, for 40 years. This lifestyle has supported many families happily throughout history, but I believe it has also entrapped many creatives as well. Imagine if more people had time to pursue their passion how much happier they would be? How much happier would you be if you added 10 hours of time to dedicate to writing that book you have been visioning for the past 5 years? How much happier would your parents be if they could spend a full day to explore nature as a family. 

     This “8 hour” concept has been here way too long and I’m here to say challenge your “8-hour” and start thinking creatively to allow yourself time to explore your passions and gifts.  Many people make the excuse that they don’t have time or that time can be spend working to bring in more money. I say, spend a little less on others dreams such as designer clothes, expensive European shoes, and spend more time on pursuing your dream. As an entrepreneur, we do our best to navigate this world and it’s “8 hour” confines to create opportunities for ourselves.  As a society, we are now connected more than ever, and people are learning to take advantage of those connections. These “side hustles” have become a common place and I tell you I am a proponent of it. There’s a quote that says, "Your thoughts become your actions, your actions become your habits, your habits become your character, and your character determines your destiny." I switch it to say, 

“Your gifts become your hobby, your hobbies become your hustle, your hustle becomes your business, and your business creates your freedom.” - Jon Kinnard

      I say forget about those 40 hour work weeks that just keep you in this rat race. Now that the new year is around the corner, use this as a time to re-establish your work week. There are more hours in a day and week that you can use and explore. Remember, you are the only one in control of your time. 

Key things to keep in mind as you plan out your new work week:

1. Time is the most valuable thing in the world. Once it is gone, it can never be replaced. Your            time is the most precious thing YOU own. 

2. There are 168 hours in a week. Do your math: 

•  7 hours  of sleep each night = 49 hours
• 40 hours of work each week = 40 hours
• 1 Hour to shower/get ready each day = 7 hours
• 30 mins prepare food/eat ( x 3 per day) = 10.5 hours

Still leaves you with over 60 hours in your week to create something!

3. Use an hour log to track what you do with your time for a week. It lets you truly see what        you are doing with all of your time. I like this tool for $18 on Amazon that has really become addiction for time management. Highly recommended for those who want to start their year off right.

4. Set time limits on your Iphone (sorry #teamandroid) for social media apps. It’s become one of my favorite features to monitor my usage. Many times we habitually waste time there and our goal next year is more productivity. 

5. Power naps are key. Anyone who knows me knows I am the king of a the power nap. I’m not a big fan of re-energizing myself unnaturally with supplements or energy drinks. I love a big cup of coffee in the morning and a nice power nap after lunch to let my mind and food settle. There is tons of research in support of this method and I tell you I have been doing in for over 10 years. It’s the best natural way to keep yourself energized and focused. 

     Let’s break free of this “8 hour” thinking and lets get creative to add more ways for you to explore your gifts and passions. This isn’t a short term solution, but one for the journey. I think that is one aspect that every entrepreneur enjoys the most. The journey and the stories of both success and failure that come with it. Hopefully these tips will help you gain more control of your most precious resource: time. 

Are you a part a system, or apart of the system?

Are you a part of the system, apart of the system?(7 min read)

          With the year coming to a close, its always a great time to pause and reflect on your year. Self-analysis is key to personal growth and I am a champion for it. Every year it goes without saying that everyone plans out their goals and visions for next year. I love this atmosphere of change and growth. However, many fail to create a system or lifestyle that will allow them to accomplish those goals. This is where the true committers to their visions differentiate from the ones who will be in the same situation again at the end of next year. Einstein once said, “Insanity is doing the same thing over and over and expecting different results.” This same goes for your life. To accomplish greater things next year, it will take a shift in your lifestyle. What are you willing to sacrifice to achieve your goal? How many hours will you dedicate a week to building your business or dream? These are serious questions you must ask yourself. From there, you can create a new system for next year that will allow you to accomplish those goals. When you have a system to live on, it gives you a way to measure how well you did. Did you stay on the system you created for yourself at the beginning of the year? 

           The best part about being an entrepreneur is our ability to act when many choose not to. We are brave, we are talented, and we challenge the system. This is the beautiful part of engaging in business in the U.S., it is truly a land of opportunity. But this opportunity is only being realized by 8% of the population, even when over 50% of new business survive at least 5 years and 33% survive 10 years or more!  It’s not due to the lack of talent, so what must it be? I relate it to the number one thing adults fear: public speaking. Many people get serious anxiety and their stomach churns at the thought of giving a speech to an audience. Worried about all the wrong things that can happen, ending in embarrassment. You are literally on display to the world. That’s how I see entrepreneurship, except we talk through a different language and stage; presenting value to the world.  You are literally on display to the world. I say forget about those apprehensions and start small and who knows what the next five years can bring?

Here’s my process of planning out my year:

Questions to ask yourself 

1. Where do I want to be in 5 years? Often in our goal setting, we put limits on ourselves and think too small. This challenges my thinking and allows me to see a bigger vision so next year looks way more manageable. 
2. How many hours on average did I work per week last year? This is an objective way to measure the only input you have; time. It also gives you’re a benchmark for next year to see how many more hours you can add. Check out Gary V’s recommended schedule.
3. How much money did I bring to the table per month and the annual total? You can easily print your bank statements online. This lets you get a clear picture of your bottom line. Not knowing can be extremely dangerous. 
4. What were my monthly average expenses? I like to separate mine into fixed and variable expenses. It gives you a clear picture on what types of costs are associated with your lifestyle/system.
5. What percent of that money did I invest in my business(s)? It doesn’t matter where you start, you can double or triple that next year by changes in spending habits.
6. How much did I save each month and total? As an entrepreneur, when it rains, it pours, and you want a nice emergency cushion. My favorite online savings account is Ally. They are offering 2.00% interest which is crazy!!
7. What percent of the year did I stay on the system? My system is based using a bullet journal where I create a custom one, but you can use a planner, calendar, or this cool one designed by a fellow entrepreneur. 
8. How many times did you engage with your passion(s)?  For example, one of my passions is traveling so I would look back and see how many times I was able to take a trip. It gives you a benchmark for next year. 
9. How much time did I dedicate to my personal growth? I include things books I read, podcasts subscriptions, bible studies, and anything that you believe contributes to your personal growth. 
10. How much time did spend with family/friends? Balance is key, and family is only here for a while. This is an important part of me, so I measure this by how many times I spoke or visited key people in my life. 

         Now with these answers, I create my goals in each category for the year and I work backwards to plan out a weekly system that will propel me to accomplish all my goals. One of my tricks is to plan a system to accomplish my goals in 10 months, so that way I have a 2-month cushion for the randomness of life. Remember to include rest stops along the way to make analyze and adjust your form. Remember, the world will try to distract you and deter you from your goals. It’s a system designed for us to hustle to consume and not create. I say we hustle to create and live by our own system of creating things of value in the world. Are you a part of the system, or apart of the system?

Jon Kinnard

@Hustletocreate

Time to get your slice of the pie!

Tis' the season of holiday cheer and a whole lot of spending. Entrepreneurs everywhere are getting their piece of the pie. This holiday season, ecommerce, which is already a 340 Billion dollar industry, is expected to grow 16.8%. People are literally becoming millionaires between the month of November and December. Take Reynell Steward (a.ka. @Super_cent), who topped the records and became a millionaire in 90 seconds this recent Black Friday. There has never been a better time to start your business and its time to take that leap of faith.

In a 1997 interview with Jeff Besos explained that he started Amazon as an online book company because the internet was growing 2,300% that year. Now he eclipsed major wealth giants to become the richest man in the world at 160 Billion net worth. He saw a gap in value, took a leap of faith in a growing market, and look at him now. Stop waiting!

We are approaching the last days of 2018 and you can reflect on this year as the year dreaming about being a business owner, or you can start today. 2019 will be your year of increased income but that will be determined by how you end this one. As I've said before, entrepreneurship is a sprint to a marathon and you have been walking and dreaming this whole time.

I know it can be a scary thing to put yourself out there but that's the whole point....put yourself out there. Use your gifts and passions to bring value to the world. I learned a great lesson about business from my 12 year old niece.  She started a slime making company to sell it to kids in school. I remember when she stopped asking me for things like shoes or clothes one day and switched to a list filled with tons of Elmer's glue and other slime ingredients. This slime market was a viral trend among kids at the time and she capitalized on it. One day I was asking her how her slime business was going and she said she stopped and had a new business plan for homemade lip gloss. Apparently the trend was over and a new trend was here. She adapted to the market and continued to bring value. She didn't consider her slime business a failure, it was an opportunity.  If a 12 year old can do it, you can too.

Steps to starting a business: 

Step 1: File DBA
This is the first executive move you will make declaring to the state the name you will be "doing business as" whether it is your name for independent contract/service work or a fictitious business name. This can be done at your local county Registrar's office and allows you to go to step 2. Please save your money and do not pay a company to do this for you. It's really simple.

Step 2: Open a business bank account
It is extremely important to keep your personal and business finances separate from the start. I recommend Chase bank if its near you. They are the premier bank for small businesses right now. This keeps doing taxes in April very easy.

Step 3: Create a gateway for consumers
Gateways are websites, store fronts, your garage, farmer's market, and any place consumers can find you. If you have a product to sell, you can g sales through a website such as Shopify. It doesn't cost you much and has easy templates for you to use if you're not familiar with web development. However, 74% of small businesses don't even have a website.

Step 4: Market your product/service
People don't know if you don't spread the word! Creating social media pages relevant to your market is a great way to generate traffic to your site. Also, don't neglect guerrilla methods of literally handing out flyers on a corner. Humble yourself and put yourself in front of as many people as possible. The more you invest your time and money in marketing your business, the faster it will grow.

Step 5: Transfer consistent value.
One of the most crucial pieces to your business flourishing. You have to be consistent. Let your consumers know what they are to expect from your business and deliver that above and beyond. 88% of consumers read reviews before they purchase. Think Chick-fil-a.


Often times the fear we feel from starting a business comes from the attachment to the business. All businesses have an open date and a close date. How value is presented to the world changes and those that adapt are often greeted with success. What are you waiting for? 

Jon Kinnard
@hustletocreate

Is Your Family Your Rock or Stone?

Family, a term that for some can mean the biggest support system in their life or the exact opposite. As an entrepreneur, our lifestyle and freedom can be difficult to understand and embrace. Now that we just had one of the major holidays with family, did you come away feeling more empowered or more discouraged? If you left feeling more empowered, then use these tips to turn that love meter up. If you left feeling more discouraged, then these tips might change you and your families life positively.

Our mentality is what fuels us and you have to do everything you can to create an atmosphere that is positive, faith-filled, loving, and authentic. We do not chose who our family is, but it is important to be around them no matter if they support you or not. You just have to learn how to protect your mentality and be that beacon of change and financial liberation. We are very fortunate to be an entrepreneur and we have influence whether it is acknowledged positively or not. I know it can be very frustrating at times but we are in a very fortunate position and its our job inspire and share our journey to success. 

It's definitely going to take some practice, but here are my five tips to inspire your family. 

1. Show unconditional love. Love and happiness go hand and hand. That's a common denominator in some of the most creative geniuses in the world. There is so much hate in the world and the last thing you want your family to remember is the hatred they felt after your acts.

2. Find opportunities to admire each person. We all are special in our own way and posses certain gifts. When those gifts are acknowledged by our family, its a feeling that often brings encouragement to explore that gift more.  Who knows, your may end up like Peyton and Eli, Michael and Janet, or Juicy J and Project Pat. 

3.  Be present. When you're with your family, give them your full attention. Avoid being on your phone. If you want to post on Instagram, take the pictures that day and upload on the next day. 

4. When discouraging words arise, use it as a time to share more about your experience through your small wins so they can learn and share your success. Pictures and videos work great too! Often times they simply don't understand or know and may just assume negative things. Or, it could be a case of them not acknowledging your growth and change. In any case, sharing more knowledge about you is what cures the ignorance. 

5.  Be the first one to take out the trash/wash dishes. Leadership is servitude and if your family doesn't see you serve, they may not see you as a leader. Actions speak louder than words and being humble is still one of the greatest traits a leader can have. Be the rock in your family and they'll be discouraged to throw stones. 

These are things that I have been doing and it has truly helped. If you don't feel comfortable doing this, try with your coworkers or friends and see how things change. Mental health is a big part of being and entrepreneur and family can affect it. The countdown to Christmas has begun so you have plenty of time to practice and be ready for the next family gathering.