Loading...
Answers
MenuImagine advising an aspiring entrepreneur who is starting a business ... after being in prison. What advice would you give on key things to do/avoid?
Answers
Fantastic question! First, a little about me and why I am qualified to answer. My father served 19 years of a 20 year sentence in prison where he passed and I had challenging background. I never met my birth mother and met my birth father at the age of 18. I've been on my own since I was 16 and have lived in the YWCA, homeless shelter's etc. I don't have any family support financial or otherwise. I haven't even had a call on a birthday, holiday, wedding day or even the birth of a child. I have a GED and now a Master's, built my first home before 30 and all while a single mom at the time. I worked very hard throughout my life and now I am retiring from a position at a Fortune 500 company after 10 years of service in my 30's. My husband has had challenges with his background and we opened a gym here in Atlanta for 8 months before closing and I also own several businesses online that focus on teaching part-time entrepreneurs how to convert their passion into profits. I have dozens of courses published on the world's largest destination for online courses including 3 best selling books on Amazon. Okay, now that ALL of that is out the way, here is my response.
Yes, I have begun working with local entrepreneurs and small business owners in Atlanta, GA to build their Internet properties and protect their reputations online and off. I help them create and develop "trust based marketing" through email, books and online and I am partnered with the #1 trusted marketer online to accomplish this and a group of over 10,000 offline business entrepreneurs.
Key things to avoid:
- excessively talking about your past
- blaming others for your current situation
- the old environment
Key things to do:
- Read (or listen to) Dale Carnegie's "How to Win Friends and Influence People"
- Find a mentor/coach that you can share your goals with and get feedback
- Invest in small business and personal development classes online or at a center (most are free)
- Think outside the box
- Build a community online
- Transfer life skills into your business
- Understand the pricing structure for your business
- Set goals and create plans to achieve them
- Invest financially and reinvest back into your business
- Create a business and financial plan (on paper)
I could go on and on and would love to connect with your organization. A 15 minute chat to provide more clarity would be great! ~Montina
Every business and product has strengths and weaknesses. Great positioning can overcome this. There are many business specific tactics that can also control the customer experience so prison is not the focus or an issue that comes up.
I have to say Ms Portis overview seems to reflect really what you need to know right away. It really reflects the "getting started" stage. The only thing I would add is the keys for continuing success are innovation and marketing ...and it's usually marketing where startups get it wrong wrong wrong. You can see what a mean through www.theRockStarStartup.com. I love what your group is doing!
THIS IS AWESOME! I love what you guys do! I actually co-founded an organization (www.relifeinc.org) that empowers inner city disconnected youth in Harlem NYC through entrepreneurship and education. I have about 10 years of research on youth development and engagement, especially on ho to curb disconnection and strongly feel that entrepreneurship with sound education is that vehicle that could help turn things around. In fact, all our programs are themed around entrepreneurship, so I am very excited and interested in what PEP represents.
Based on our new pilot program The URBN Youth StartUP, which just ended last month, there are several tips I could give. We spent 12 hours a week with the students (4 days per week, covering concepts and fundamentals of entrepreneurship, basic life and soft skills, financial literacy and micro-finance and innovation/tech day) in addition to having 2 mentors per student (one entrepreneur and one professional). These alongside implementing our HEROES Model for effective youth development (heroesmodel.com) helped us have a successful pilot.
Let me know if you are interested, Id love to talk more.
Cheers
The only thing I might add to this set of answers is that you should consider reaching out to your 150 success stories and asking them the same question. They likely meet your "best people to answer" criteria and have a good understanding of the particular challenges of your constituents.
Some of the best mentors and advisors come from within the community. Your existing graduates, especially the two with over $1MM in annual sales, can probably give the most robust answer to your question.
Have you considered speaking with people involved in helping veterans through their military-to-civilian transitions? Re-entering the civilian work force after 6, 10, or 20 years in the disciplined, insulated environment of the armed forces is a bit like getting out of jail. Not that I regard my own Navy background as a prison sentence, by any means! Quite the contrary! Only it's a disorienting readjustment that poses career and personal challenges very similar to what former prisoners must be facing.
It may be worthwhile to compare notes with programs that assist veterans with job placement, career retraining, franchises, and startups. Perhaps some veterans would themselves be able to share tips. Most people, when they get out of the military, plug themselves into a salaried position in another established organization. But quite a few do try their hand at startups. Since their network outside the military is often minimal, many veterans have a tough road too and will probably sympathize with what your program is doing.
Incidentally, if your program (or a sister program) needs a name, I've been holding onto this one for just such an endeavor:
OffParole.com
Related Questions
-
How much equity should I ask as a CMO in a startup?
Greater risk = greater equity. How likely is this to fail or just break even? If you aren't receiving salary yet are among 4-6 non-founders with equivalent sweat investment, all of whom are lower on the totem pole than the two founders, figure out: 1) Taking into account all likely outcomes, what is the most likely outcome in terms of exit? (ex: $10MM.) Keep in mind that 90%+ of all tech startups fail (Allmand Law study), and of those that succeed 88% of M&A deals are under $100MM. Startups that exit at $1B+ are so rare they are called "unicorns"... so don't count on that, no matter how exciting it feels right now. 2) Figure out what 1% equity would give you in terms of payout for the most likely exit. For example, a $10MM exit would give you $100k for every 1% you own. 3) Decide what the chance is that the startup will fail / go bankrupt / get stuck at a $1MM business with no exit in sight. (According to Allman Law's study, 10% stay in business - and far fewer than that actually exit). 4) Multiply the % chance of success by the likely outcome if successful. Now each 1% of equity is worth $10k. You could get lucky and have it be worth millions, or it could be worth nothing. (With the hypothetical numbers I'm giving here, including the odds, you are working for $10k per 1% equity received if the most likely exit is $10MM and the % chance of failure is 90%.) 5) Come up with a vesting path. Commit to one year, get X equity at the end. If you were salaried, the path would be more like 4 years, but since it's free you deserve instant equity as long as you follow through for a reasonable period of time. 6) Assuming you get agreement in writing from the founders, what amount of $ would you take in exchange for 12 months of free work? Now multiply that by 2 to factor in the fact that the payout would be far down the road, and that there is risk. 7) What percentage share of equity would you need in order to equal that payout on exit? 8) Multiply that number by 2-3x to account for likely dilution over time. 9) If the founders aren't willing to give you that much equity in writing, then it's time to move on! If they are, then decide whether you're willing to take the risk in exchange for potentially big rewards (and of course, potentially empty pockets). It's a fascinating topic with a lot of speculation involved, so if you want to discuss in depth, set up a call with me on Clarity. Hope that helps!RD
-
What is the average series A funding round at pre revenue valuation for a enterprise start up w/cutting edge tech on verge of our first client.
With all respect to Dan, I'm not seeing anything like that. You said "pre-revenue." If it's pre-revenue and enterprise, you don't have anything proven yet. You would have to have an insanely interesting story with a group of founders and execs on board with ridiculous competitive advantage built in. I have seen a few of those companies. It's more like $3m-$5m pre. Now, post-revenue is different. I've seen enterprise plays with $500k-$1m revenue/yr, still very early (because in the enterprise space that's not a lot of customers yet), getting $8m-$15m post in an A-round. I do agree there's no "average." Finally, you will hit the Series A Crunch issue, which is that for every company like yours with "cutting edge tech" as-yet-unproven, there's 10 which also have cutting edge tech except they have customers, revenue, etc.. So in this case, it's not a matter of valuation, but a matter of getting funded at all!JC
-
How was SnapChat able to grow so quickly?
I'm answering your question assuming that you hope to be able to replicate it's own success in your own mobile app. There are a couple of factors responsible for it's growth that are instructive to anyone building a mobile app. "Leveraging the intimacy and privacy of the mobile phone." We now have an *intimate* relationship with our phone like no other device in the history of technology. Every internet company that started before around 2010 has built their core interactions around "the old web" one which was accessed primarily via a browser on a computer. Companies that start with a clean slate, should be building their interactions around how to do whatever the app is supposed to do while leveraging what is unique to people's relationship to their mobile devices. Photo-sharing has become a core part of the way we communicate now. Snapchat built something that provided an experience that leveraged the feeling of privacy and intimacy that is unique to mobile. "Provided an escape from the "maturity" of other online services." Too many parents, aunts, uncles and other "old people" have encroached into the social networks of teens and young people. As a result, they've had a desire to find places to express themselves in places inaccessible by older generations. An important distinction is that it's not just parents and relatives that young people are trying to avoid, but also employers & colleges who are increasingly using "mature" social networks to review applicants. "Leveraged PR even bad PR" The fact that the app got so much press about it being used to sext was perfect PR for the company, as it essentially reinforced the brand experience that it has today. Essentially, "if it's safe enough to send a sext, it's safe for any kind of communication I want to have." And although the safety and security of Snapchat is actually not as advertised, it still enjoys the reputation of having less impact than any primarily web-based service. Building a successful mobile application is one of the hardest challenges to face designers, programmers and entrepreneurs in the history of writing software. Happy to talk to you if you're considering building a mobile app, about what I've learned about the "table stakes" for success.TW
-
How has Uber grown so fast?
Obviously, they do the fundamentals well. Good brand. Good experience. Good word of mouth. Good PR. Etc. Etc. But after my interview with Ryan Graves, the head of Global Operations at Uber (https://www.growthhacker.tv/ryan-graves), it became clear that they are operationally advanced and this is a huge part of their success. I'll explain. Uber isn't just a single startup, it's essentially dozens of startups rolled into one because every time they enter a new city they have to establish themselves from essentially nothing (except whatever brand equity has reached the city ahead of them). This means finding/training drivers, marketing to consumers, and building out local staff to manage operations for that city. This is where Ryan Graves comes in. He has a protocol of everything that must be done, and in what order, and by who, to ensure the best chance of success in a new city. So how has Uber grown so fast? Essentially, they figured out how to grow in one locale and were relentless about refining their launch process to recreate that initial success over and over in new cities. No plan works for every city, and they've had to adapt in many situations, but it is still a driving factor for their success.BT
-
how to start earning on clarity.fm
Most of the earnings come from the people you are in contact with. The platform is not that big at the moment but it can be earned. My recommendation is to create content on your private page web, facebook, instagram ... and leave a clarity link through your work. If you need extra help call me for 15 minutes.DB
the startups.com platform
Copyright © 2025 Startups.com. All rights reserved.