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JJ Ramberg

JJ Ramberg is the anchor of “Your Business,” MSNBC’s weekly show on small business. In addition to her extensive television reporting experience, Ramberg has a background as an entrepreneur and co-founded GoodSearch.com. She has an MBA from Stanford Business School.



Entrepreneurship -- it’s in your blood

Posted: Thursday, March 05, 2009 9:34 AM by Roland Jones
Filed Under: , , ,

By "Your Business" anchor JJ Ramberg:

This week my father came to the taping of the show. He's an entrepreneur and an investor. My mother was an entrepreneur. Both of their fathers were entrepreneurs. My brother is one too. And so am I.

Clearly, there's something in our blood.

Having my father in the green room before the show sparked the conversation of why the desire to start a business gets passed down through the generations.

One of the panelists on this week's show, Divya Gugnani, said her father was an entrepreneur and she grew up thinking that she wanted nothing to do with starting her own company. The uncertainty of living with -- as she put it -- the wealth of the world one day and nothing the next seemed unappealing for her own career.

She said she remembers travelling around when everything was great with her dad's work, and then watching him use his credit cards to make payroll when it wasn't, and it was scary.

So instead of going the entrepreneur route she became an investor, joining a venture capital company. Cut to a few years later and, you guessed it, Divya had left her VC company and its steady paycheck to start her own company called "Behind the Burner."

She said she couldn't help it.

"There is a point when you wake up and all you want to do is work on your company, and so that's what I had to do," she told us.

All of the entrepreneurs in the room nodded in agreement.

Clearly, entrepreneurship is not for everyone. I have a good friend who left his high-profile advertising job to start a company and a mere six months later returned to the agency. As he joked, "Nobody told me I was going to have to take out my own trash."

As for Divya, her father thinks she's insane. She says, she is. She says you have to be. Who else but an insane person would take the risk? But if the passion is there you can’t deny it, and she says she loves what she's doing.

What do you think?

What does it take to become an entrepreneur?

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With the economy in such poor shape it's no wonder that futurists are predicting a huge rise in entrepreneurship.  Some enter into it by choice, others because they can't find jobs. Whatever the reason, it still takes hard work and a willingness to take risks to make a go of it.  After working for myself for 6 years I got a job at a Fortune 500 company.  I spent 3 miserable years there before going back to working for myself.  Ten years later I'm much happier and look forward to each day as a new challenge with new clients and new experiences that help to expand my abilities.  
It took me years to figure out that my entrepreneurial spirit came from my mother.My mother died when I was sixteen. I could not figure out why I kept chasing the entrepreneurial dream of ownership. One day my uncle told me that my mother owned a music store. From his story, I figured that my mother's entrepreneurial spirit lives within me.  
It will end when the media stops telling people how bad it is and start encouraging people to fix the problem.  We need to start buy real estate at the cheapest prices in decades.  We need to start investing in stocks that haven't been selling at these prices in decades.  The banks need to start making loans and Wall Street needs to stop listening to the media and start telling their investors to invest.

Right now we are in a Catch 22 situation.  Banks aren't loaning money, we are buying products or investing because we are afraid to and because we aren't speeding companyings are laying off.  So we have to stop being afraid and that is very hard.  This week I am buying shares in GE, Disney and maybe Coke.  Three solid stock that will be around a while.  There is going to be a big jump up in the market by the end of the year and I want to be part of it.  It may go down a little more first, wating for everyone to come around, but if you a couple hundred or a couple thousand you can spare it's time.  Or buy a foreclure house for a third of it's value.  THERE ARE HUGE DEAL OUT THERE PEOPLE.  Let's get this recession over with.
I became an entrepreneur in 2005 after moving to Costa Rica.  My companies are www.crcommunities.com, www.boomersincostarica.com and angevalleyfarmbandb.com.  I was 41 when I started and I'm never looking back!  I mostly credit my talented young business partner for getting me motivated.  I also agree that having the drive to do something different (and being slightly different) and make customers happy is most important, not the title or money.
My father was an employee all his life. Although he constantly said how he would run the business better than his bosses, I don't think he has the temperament. On retirement, my sister offered him the opportunity of creating a B&B from a house she owned. He took it on, but he drives her crazy by simply "managing" it at a day-to-day level - he relies on her absolutely for the creative ideas, the inspiration. He is a model employee, but that is what he is.

My mother worked as an employee all her life, but as soon as she retired (they are divorced) she started her first small business offering computer training to housewives and school kids. Then she got into filling printer cartridges. At 75 she still has a few irons in the fire.  

My sister and I are both successfully self-employed - we are the primary breadwinners in our households. My brother wanted so much to be his own boss but he couldn't make it work. He is a mediocre employee, but a worse entrepreneur - he has the confidence and sales skills, but poor on "delivery".

I think at the end of the day, success as an entrepreneur takes hard work and discipline (which can run in a family's culture) or you get an amazing lucky break and are smart enough to get out before you mess it up.
I am uncertain if I am an entrepreneur, but I am taking steps forward to find out.
I am 55 years of age, with over 30 years of experience in the industry I work in.  I have always worked for others, in large organizations.
I recently came to realize, thanks to a company downsizing, that many companies, most often led by entrepreneurs value my experience and knowledge.  
I plan to offer it to them with out all the overhead my former employer piled on.
If it succeeds, I will have a lot of people to thank since I did not get where I am with out the help and aid of others.  If it does not, then I am sure I will learn and grow from the experience.
The Hotdog Vendor

There once was a Hotdog Vendor. He hadn’t gone to school so he didn’t read the papers and he was hard of hearing so he didn’t listen to the TV, but he sold good hotdogs.

He stood on the side of the road and cried “Buy my good hotdogs!” and people bought them.

Business was good and he put up billboards telling about his good hotdogs. He had to hire more people.

Business got so good that he had to have his son come home from college to help.

When his son saw all the money that his dad was spending on help and advertising he complained. He said “Dad don’t you know there is a big Recession on and lots of people are out of work and many more have lost a lot of money.

Well, the man thought, “my son has been to college, he reads the papers and listens to the news on TV so he must really know what is going on. So he took down his billboards and stopped standing on the side of the road telling about his great hotdogs.

Sure enough, business got worse.
"And so am I"   Actually, no you are not...I love to hate people that have jobs yet claim they are an entrepreneur...unless you are standing on the edge, do not compare yourself to people that actually are...it is insulting.
One third of our clients are startups or the result of M&A and a few have a family component.  Family businesses can thrive if there is a "business first" philosophy with the management team. Otherwise, playing the family card in business is like going grocery shopping while starving: you'll get food, but probably buy things for more emotional reasons.


Mark Stephen Ware
CEO & Principal
Perception Lab, Inc.
www.perceptionlab.biz
Management and Marketing Advisors
I am looking into starting my own business on the side.  I have a passion for photography and am good at it so why not try it?  No one in my family has ever started their own business, but I've gotten to see how unhappy they can be at the mercy of their employer.  My dad works for a pulp & paper mill in the NW that was recently bought out by a Canadian company and layoffs are just second-nature now.  He's absolutely miserable.  My job is great, but there are days when I'm dreaming about doing something I'm passionate about whenver I want.  So, I'm starting to do my homework and will start small (part-time) and hopefully expand from there.  
I am an Entrepreneur but surprisingly no one in my family is and I don't think anyone in past generations has ever owned their own business either. I don't know where I get the drive from, only that I was lucky enough to be born with it.
Many of the comments above are good and do not need to be repeated.

However, there is one thing missing. Successful entrepreneurship, like anything else in life, is brought about by belief -- belief that oneself WILL be successful, as measured bywhatever yardstick one deems important. The world teaches us over and over again that what we focus on will be delivered to us. If it is illness, then we will be ill. If it is life in abundance, then that will come our way. If we elect to write specific, concrete goals, then so much the better. The point is that tentative steps toward entrepreneurship will result in disappointment. Entrepreneurship, unlike many jobs, has no safety net and there is little to protect a person from the consequences of their results in business; there is no opportunity for delusion about one's success or lack of it.

If you choose to be an entrepreneur, then go do it, but do it wholeheartedly.
All I ever wanted to do was to start and run a business. I have been fortunate enough achieved that goal twice. (I sold the first business after 15 years.) For me, entrepreneurism skipped a generation. My mother's parents were both entrepreneurs. However, it was my father, a fire fighter, who taught me the most about running a business and communicating with people. He didn't live to see me start my businesses, but I know he certainly would have enjoyed being part of them.

I met my wife before starting my first business. She admittedly was not the risk-taking kind. Now, she owns her own business and is very successful. So maybe entrepreneurism isn't as much about heredity as it is about being infectious.
Different people have different reasons for going into entrepreneurship.  My one and only reason is to make enough money to avoid working until I am 60.  There are other reasons, but this is by far my primary driving force.

I have many passions, but I believe a passion cannot be enjoyed by working.  A passion can only be enjoyed if there is no schedule or no daily responsibility(besides kids) attached to it.

I also believe people are not entrepreneurs because they don't want such responsibilities, some would rather watch tv or fail because of over complicating things that can be very simple.
I think there is a fuel unique to each individual that mixes multiple elements in specific proportions to that person that creates success. Conversely, if the mixture is off in some proportion it can be corrosive, may cause paraylsis or death to the dream. The elements are: a) transmutation - ability to persist through the "fog of war" to realize revenues from your intellectual property, b) risk - able to cope with uncertainty, c) emotions - feelings running amok create panic and are not to be confused with intuition (haste makes waste - you need to manage your feelings), d) debt - you have to decide for yourself if you can handle a mortgage on the value you place on your human capital, and e) stress - you have to be clear with yourself if you are a lifestyle entrepreneur or seeking a scalable business for exit in a few years - both have stress.            
It's important to be an entrepreneurial 'couple' when you're married. If the business tanks, you're both cutting back till you find an income. Some spouses don't have the stomach for it, and I've known many entrepreneurs that found this out after the first marriage ended. But if you have the support, there's nothing more exciting than waking up every day working on 'your baby'. It's the money as much as just seeing your vision come to fruition.
Pay close attention to the governance docs if you take on investors. The joy of working on your business can dissapate quickly if you sign over so much of it that it's controlled by those that spend 2 hrs a week focused on it, rather than your 24/7.
Belief in yourself is absolutely necessary. Becoming an entrepreneur does not have to mean getting rich or having a large, successful enterprise. Fo me it was always freedom. I am now 70 and have a profitable B&B which allows me to constantly welcome and visit with travelers from all over the world. When my children were small I started a toy store in Lake Tahoe for fun. Mostly I have always had small advertising and design firms employing less than 10 people. No giant headaches, just lots of interesting projects to work on (Mercury, Apollo space, Boeing 747 development, introducing Japanese automakers to the U.S. market, publications in the entertainment industry and computer sciences as well as specialty medical and dental advertising and publishing. 50 years of low level competent entrepreneurship and still at it. You can to.
I consider myself an entrepreneur always comming up with ideas and marketing them It like an addiction for me
It's a mix of nature and nuture, I'd say. I genuinelly think that some people are born with a genetic predisposition towards entrepreneurship, but if you don't know pick up the practical business skills for applying them over your life, you'll be lost.


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