What makes an entrepreneur? | Sahar Hashemi | TEDxYouth@Bath

Summary

The speaker shares her inspiring journey from a disillusioned lawyer to a successful entrepreneur, challenging the misconception that entrepreneurship requires a special trait or background. She recounts her transformation, sparked by the loss of her father, which led her to co-found a coffee chain in the UK. The narrative emphasizes the importance of passion, market research, perseverance, and self-belief, illustrating that anyone can become an entrepreneur with hard work and determination.

Takeaways

• 🙋‍♀️ Entrepreneurship is not exclusive to those who fit a certain stereotype; anyone can be an entrepreneur if they choose to embrace it.
• 🚀 The speaker initially thought that to be an entrepreneur, one had to be like Richard Branson or have a special trait, but later realized that entrepreneurship is accessible to all.
• 📚 A career in law did not align with the speaker's personality and passion, leading to a realization that one's work should be fulfilling and enjoyable.
• 🌟 The speaker's father's sudden death was a pivotal moment that prompted her to leave her law career and pursue something she truly loved.
• ☕ The experience of discovering specialty coffee in New York and the lack of similar options in London sparked the idea for a new business venture.
• 🔍 Despite having no prior knowledge of the coffee business, the speaker and her brother decided to conduct thorough market research and learn as they went.
• 💡 Entrepreneurship often involves overcoming doubts and fears, and the speaker emphasizes the importance of 'pressing delete' on negative self-talk.
• 💼 The journey of starting a coffee business involved many challenges, including securing funding, which required persistence and resilience.
• 🏢 The speaker and her brother had to learn about various aspects of the business from scratch, highlighting that expertise can be developed through experience.
• 📈 The initial failure of their coffee bar to meet sales expectations led to a gradual but determined effort to educate customers and grow the business.
• 📚 The speaker's story culminates in the realization that entrepreneurship is a journey of self-discovery and aligning one's work with their true passions.

Q & A

What was the speaker's initial perception of entrepreneurs?

The speaker initially perceived entrepreneurs as individuals with a special chromosome or magic dust, like Richard Branson, and thought they had to be school dropouts to be successful.

Why did the speaker choose to become a lawyer instead of pursuing entrepreneurship?

The speaker chose to become a lawyer because they thought they were not the entrepreneurial type and didn't see themselves as someone who could be successful in business.

What was the turning point for the speaker that led to a career change?

The sudden and unexpected death of the speaker's father was the turning point that made them realize the importance of following their passion and being true to themselves.

What was the inspiration behind the speaker's decision to start a coffee business?

The inspiration came from the speaker's experience of enjoying a cappuccino in a coffee bar in New York and realizing the lack of similar coffee bars in London.

How did the speaker and their brother overcome their lack of expertise in the coffee business?

The speaker and their brother decided to teach themselves about coffee and the business by immersing themselves in it for three months, visiting coffee bars, and conducting thorough research.

What was the initial reaction from bank managers when the speaker and their brother sought funding for their coffee business?

The initial reaction from bank managers was negative, with 40 of them rejecting their funding request, citing Britain's preference for tea over coffee as a reason.

What challenges did the speaker face when trying to replicate the coffee bar experience in the UK?

The speaker faced challenges such as finding suitable cups and muffins that were not commonly available in the UK, leading to bootstrapping solutions like ordering blank cups and making muffins at home.

How did the speaker handle the competition from Starbucks when it entered the UK market?

The speaker and their brother had already established their brand by the time Starbucks entered the UK, and they continued to focus on their unique selling proposition and customer education.

What was the speaker's biggest regret after selling their shares in the coffee business?

The speaker's biggest regret was selling their shares too early, as they felt upset and cried instead of celebrating their success, realizing the emotional attachment they had to the business.

What are the five steps to entrepreneurship according to the speaker?

The five steps to entrepreneurship according to the speaker are: 1) The idea - make sure it's something you love, 2) Market research - know your market inside out, 3) Business plan - be organized, 4) Raising money - be prepared for rejections, and 5) Making it happen - have stickability and perseverance.