Power to the Entrepreneur

Kenneth ColeThe special Entrepreneurship Issue of SUCCESS with Kenneth Cole on the cover hits newsstands today!

Every issue of SUCCESS magazine is designed to support, instruct and uplift the entrepreneur. But this issue we’re focusing specifically on your needs as a business owner.

We know you’re the type of person who wants more out of life; your career isn’t about a paycheck, it’s about creating your best possible life and becoming your best possible self. That’s why, even though we pride ourselves on offering you meaningful content every issue, I believe this edition is one of the most important issues we offer all year.

Entrepreneurialism is the heart of our economic system. In a time when everyone is claiming there’s no work to be had, entrepreneurs are out there creating jobs. In fact, an entrepreneur pursuing his or her passion is the greatest stimulus package there is.

Today, according to stats from the Small Business Administration, small businesses:
• Represent 99.7 percent of all employer firms
• Employ more than half the private-sector employees
• Pay 44 percent of the total U.S. private payroll
• Have generated more than 64 percent of all new jobs during the past 15 years
• And create more than half the private gross domestic product

Entrepreneurialism is also the heart of the American dream. Taking control of our dreams, pursuing our passions and following through on that wild idea not only makes life more enjoyable—it pays well! Eighty percent of self-made millionaires became millionaires because they started their own business.

There has never been a better time to be an entrepreneur. At the beginning of the 20th century there were a mere 5,000 millionaires. By 1950 there were 100,000; 1980—1 million; 1990—2 million. By the year 2000, that number had reached 7 million.

Today, more than 10 million men and women have reached that coveted but not-so-elite status. Want even better news? That number is expected to double in the next 10 years. Now is the time—and this is the resource—that will help you figure out how to claim the rewards of being a successful entrepreneur.

One more encouraging statistic: Even though entrepreneurs are among the world’s wealthiest, 90 percent of all entrepreneurs started out at the bottom, broke or with little to no capital or savings.

Anyone can become an entrepreneur–and at any age. You see, being an entrepreneur isn’t about who or what you know; it’s about what you do. The skills and knowledge you need to succeed are all attainable—and some of them are found in this issue and on the enclosed audio.

This month, you’ll read about the innovation and hard work behind fashion icon Kenneth Cole, you’ll hear ideas from people like Candace Nelson of Sprinkles Cupcakes and John Assaraf, the New York Times best-selling author of The Answer, who have “been there, done that” and are on to their next great entrepreneurial adventure. Empower yourself by taking their advice to heart.

Learn from their failures and mistakes, as well as from their successes, and you’ll be on your way to claiming your place among the wealthiest in the world.

Here’s to your entrepreneurial success!

When you get your copy of this months issue, I’d love to hear what your favorite story is or what’s the best idea, tip or insight you are taking away from it–leave it in the comment section below. Have comments on last month’s issue–leave them below as well!

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Comments

  1. Great goods from you, man. I’ve understand your stuff previous to
    and you’re just too great. I really like what you’ve acquired here,
    really like what you are saying and the way in which you
    say it. You make it entertaining and you still take
    care of to keep it smart. I can’t wait to read much more from you.

    This is really a tremendous site.

    [Reply]

  2. Anne-Marie says:

    Great post – just got my issue and am excited to read it. As soon as I read it, I’ll be able to share my favorite tip from the issue.

    Would you do a Guest Post on my blog (www.SoapQueen.com) with this article? I would be happy to header/footer/credit it any way that you’d like =)

    We sell soapmaking supplies to small businesses all over the world and I do a lot of Business 101 articles (in addition to soap tutorials) so this would fit in great!

    Thank you for the consideration. I’m a huge fan of your magazine and the CDs that come with it.

    [Reply]

    Darren Hardy Reply:

    Sure thing, Anne-Marie! Just email my assistant maggie@darrenhardy.com and she will get the necessary credit info for a repost on your blog. Thanks! :)

    [Reply]

  3. Ulrike Levins says:

    Great mag! Am excited to receive it each month!

    [Reply]

    Darren Hardy Reply:

    Awesome! Thanks, Ulrike! Any favorites thus far? :)

    [Reply]

  4. Constantin says:

    Indeed this is a great time to start being entrepreneurial.

    I see big companies being sluggish and doing silly things… It’s time for new, nimble companies to appear.

    Thanks for the inspiration!

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  5. Thomas says:

    wonderful magazine

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  6. Kathy says:

    I am looking forward to getting the issue. The company I worked for 25 years is closing our division. I have a side business that I have done well with in the past, but the last couple of years have spent long hours at the other job that I have no control over. I have been in a dilemma whether to look for another job or give my all to my business. This post has made me realize that I need to throw myself back in my business and put the effort I put in for the other company. Thank you for your inspiration.

    [Reply]

    Darren Hardy Reply:

    Sorry to hear about your division closing, Kathy. Change can be hard, but you are right. This is the perfect opportunity to throw yourself back into your business. What do you have to lose?! Kudos to you for taking back control! Congrats and keep us posted on your progress. :)

    [Reply]

  7. Jenn says:

    Darren.. I have recently become the Chief Motivating Officer of my company, self appointed, and Success and your blogs are what I turn to to get inspiration. I am always inspired and always walk away with something I needed to hear at that moment.

    Thanks for the inspiration.
    Jenn

    [Reply]

    Darren Hardy Reply:

    Thanks, Jenn! Don’t forget to check out and “Like” my FB page as well: http://budurl.com/DHFan I post daily motivations and inspirations there for you to share, too. :)

    [Reply]

  8. Thomas says:

    Darren, I still can’t stop listening to the leadership audio CD with Robin Sharma (leading without a title). I am the director of a multi-million dollar Sports Complex and it has given me drive to grow sales, cut cost and innovate new ways of business. When Robin said to act like the CEO of what you do it instilled something in me and has really jump started a new me.

    [Reply]

  9. Thomas says:

    Darren…I still can’t stop listening to the audio section from the leadership issue with Robin Sharma and leading without a title. I am the director/manager of a multi-million dollar Sports Complex and it has really given me the drive to be more successful by acting as if I am the CEO of the complex. I am now excited to grow sales, cut cost and innovate! Great work Darren..love the magazine

    [Reply]

  10. Darren,

    What is the source for the statistic saying that 80% of self-made millionaires did so through starting a business?

    [Reply]

    Darren Hardy Reply:

    It came from Brian Tracy, Nwokedi. Thanks for asking! :)

    [Reply]

  11. Deep says:

    Darren, when you, a Hotel Management graduate, start a motel and drive a pre-owned Ford Taurus, you are a floating detritus of society, more so, when your peer just joined the USGS ( a career with a pension). Napoleon Bournaparte would have called you a “shopkeeper.” But with time as your motel mutates into a chain of Hilton hotels, you are called an entrepreneur. And with more time, when you write cheques from Credit Suisse for charities, you are honoured as an industrialist. This walk from a shopkeeper to an industrialist requires massive and massive self-confidence. For those Fords, Edisons, Gates, and Coles, where is the self-confidence manufactured? Incidentally, you too are an entrepreneur, (and I do not know whether you are an industrialist!)

    More I read Success and your blog, the more my awareness receives jolts.

    [Reply]

  12. JT DeBolt says:

    Darren,
    Thank you for another great post! The lessons and value I get from reading SUCCESS go far beyond the newstand or subscription price. I find it to be mandatory reading for any entrepreneur who is serious about success, and especially should be for high schools and colleges as they are helping to produce the ‘next generation’ for our world.

    Thank you for all you do, and I’m looking forward to The Compound Effect as well!
    ~JT

    [Reply]

    Darren Hardy Reply:

    I completely agree, JT. ;) And enjoy The Compound Effect! You will have to let me know what you think… Thanks!

    [Reply]

    JT DeBolt Reply:

    @Darren Hardy, I absolutely love The Compound Effect! The book is packed full of actionable content, and I feel like you are speaking directly to me as I read it. Thank you for challenging us to rise to our highest potential; you knocked it out of the park, Darren!

    [Reply]

  13. Wesley Davis says:

    Darren – I received my copy in the mail and the CD interviews are AWESOME. The interview with Chet Holmes was especially meaty. I was a teacher before committing to work on my own businesses and look forward to applying my experience to educational marketing. Alternatively, the story about the voice instructor reminds me to keep my eyes on the prize by working on the business (I run a tutor/homeschool business and also work as a musician) .

    Here is where I get caught up: In a education business (tutoring and homeschool) it seems best that a different person is selling the service than the one providing the service – I suppose that then you have to charge enough for the service to pay two people in addition to the cost of performing the service. Will parents pay one private teacher or tutor the price of two teachers?

    Keep up the great work!

    [Reply]

  14. Ralph Harris says:

    We have taken the step to give a copy of success to each of our cleints, over 120 each month. Each of them are small business reaching out for help and advice and this months focus on “The power of the Entrepreneur” should speak to them and open them up to the great possiblities that lay ahead.
    Thanks for the great material, enjoying your new book. Been listening to the disc’s in the car
    Cheers

    [Reply]

    Darren Hardy Reply:

    What a great gift to your clients, Ralph! Any feedback from them regarding your generosity? :)

    [Reply]

  15. This is a fantastic post Darren!
    I was recently listening to “Think and Grow Rich” and it was amazing the similarities between when the book we written and today’s economy, “Think and Grow Rich” came out shortly after the Great Depression. In the book Napoleon Hill commented that there are going be people who come out of this (the Great Depression) and become millionaires. Funny, the country is almost in same situation and YES there are going to be many entrepreneurs that will become millionaires!

    [Reply]

    Darren Hardy Reply:

    Honored to be mentioned with Napoleon Hill’s “Think and Grow Rich,” Gregg! Thanks! :)

    [Reply]

  16. I can hardly wait! This speaks to me and to those I serve. In fact, it is the reason I am “re-launching” my business (originally focused on web design for small businesses) and moving into more of a mentoring and advising model. The Truly Small Business (TSB) entrepreneur is who I am and who I love working with – with a goal of making them out grow me!

    Darren, thank you for your continued support and recognition of those of us that are not yet the “millionaires” and that may still be under the radar of what the government considers a “small business” (thus my desire to add a new term called the Truly Small Business or TSB). We are the ones that may still be working another job and developing our business on our off hours, or still wondering exactly how we will make our 1 person payroll this month (let alone pay ourselves). We are the ones that consider following our passion more important than a retirement fund and company paid benefits but pray we will have both in the long run.

    The first issue of Success Magazine I picked up was the February 2010 issue with Dave Ramsey on the cover – I can honestly say it was a life changing event. It was my assistant that pointed the magazine’s impact out to me. I was starting to implement some of the recommendations – especially the ones on time management and outsourcing – without even realizing it and she said to my Mom (who I share a home with where our home office is and my assistant comes to) “Boy she’s really taking that Success stuff seriously”.

    I have! And my business has blossomed as a result!

    Thank you for speaking to me and others like me and helping me see that we are a huge part of what makes this country a great place to live and work!

    I don’t know if it’s appropriate to post links on this forum so I will not but here is my definition of “Truly Small Business” as posted on my soon to be launched new website:

    “We define “small business” differently than the U.S. Government – because we too are a Truly Small Business (TSB). We define “small business” as perhaps one person with a dream, and maybe even another full-time job, that hopes to grow their dream of a retail or service company with a couple of employees and a unique product to take to market.”

    Whereas the official government definition of SMB is: [extracted from the SMALL BUSINESS ACT (Public Law 85-536, as amended)]: “one which is independently owned and operated and which is not dominant in its field of operation: Provided, That notwithstanding any other provision of law, … has annual receipts not in excess of $750,000″.

    Not that I don’t think they recognize the TSB but I know from years of serving SMBs for corporations that most disregard a business that generates less than $250,000 per year in revenue as “not a real business”. I beg to differ – my business does not warrant recognition based on this standard and yet I am providing an income to one employee that is enough to live on and I support many other TSBs via outsourcing part time work. Let’s hear it for those that are beginning to recognize the TSB such as Success Magazine!

    [Reply]

  17. Clare Kumar says:

    Love that you put Kenneth Cole on the cover. He’s not only a fine example of entrepreneurship, he’s someone unafraid to exert his influence. I had the pleasure of meeting him a couple of years ago and respect him even more.

    Clare

    [Reply]

    Darren Hardy Reply:

    Lucky you, Clare! Did he leave you with any words of wisdom that you could share with us? :)

    [Reply]

    Clare Kumar Reply:

    Kenneth was talking at a Power Within daylong event and I had the pleasure of sitting with him during lunch. His message, some of which is covered in your magazine article was itself inspiring…especially the “can do” attitude. It was his demeanor I remember most. You can achieve huge success and still stay a warm, approachable, guy. I remember his generosity of spirit when complimenting the MC, a Canadian comedian.

    [Reply]

    Darren Hardy Reply:

    Our own Managing Editor Amy Anderson met Kenneth Cole and wrote the article personally – she did a fantastic job, the article is excellent! You will enjoy it. She reports he is as lovely a human being in person as he appears to be through his branding and work.

    [Reply]

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