A new way to train entrepreneurs

Ever since the Federal Reserve started adjusting interest rates, there have always been experts predicting the possibility of the economy slipping into recession. As headlines of the economic slowdown make headlines, younger generations continue to weigh their options when starting their careers. For some, starting their own business involves shaping their destiny with a self-directed experience.

New business application processes show an interesting trend exacerbated by the pandemic. Between 2017 and 2019, the average number of new business applications was about 3.5 million per year. In 2020 and 2021, that number increased to 4.38 million and 5.4 million respectively. Also, more people are searching online for ‘how to start a business’ than ‘how to get a job’.

Getting a business degree is expensive and starting a business is easier said than done. It’s a challenging road for those just starting out and those with experience. This choice created additional uncertainty in response to recessions and other economic and social stressors.

According to Daniel Javor, there is nothing wrong with starting a business in a recession. “There is never a wrong time to start the right business. Many successful businesses today were born out of recession and turmoil. If you’re fit and running a business, you can learn all you need to know without a formal business education.”

Javor is a serial entrepreneur. He is CEO of Deep Blue Ventures, a digital media holding company. He now also runs an entrepreneurial education platform, Step By Step Business, providing in-depth education on starting an LLC, running, running and scaling a business, as well as other useful tips for entrepreneurs.

This reporter talked about his time as an entrepreneur and the lessons he learned, challenges, successes and failures. Additionally, Jabor explores the reasons behind his decision to develop an entrepreneurial education model and advice for budding entrepreneurs.

choose entrepreneurship

Rod Berger: Why start a business in the first place? Was it what you always wanted, or was it something more indirect?

Daniel Javer: At least it was genetic. My father was an avid entrepreneur, so it passed on seamlessly. I am basically the product of my parents. My father was an entrepreneur and my mother a world traveler. So my perspective and personality is an amalgamation of what I learned from them.

recovery: What was the beginning of that first company or entrepreneurship?

Hubble: We were living in Austria at the time and selling trading cards on eBay. I have threw myself into several other ventures since my teenage years. Success or not, all of them have brought me here.

recovery: You seem to have moved a lot for your business ventures. Expand your propensity to travel around the world if you want.

Hubble: [Laughs] I may have got it from my mother. I have never hesitated to relocate for business opportunities. I was only 17 when I moved to Israel and opened my shop. I eventually started an affiliate selling financial and insurance products.

A few years later, in 2015, we shifted our affiliate focus to the solar industry, providing residential leads to US solar companies under an affiliate model. My current main ventures are Deep Blue Ventures and Step By Step Business.

Deep Blue Ventures works with a portfolio of acquired online publications that it manages from an operational and scalability perspective. Step By Step Business is an educational hub for current and future entrepreneurs.

Formation of an educational venture

recovery: Let’s talk about your education business. What made you want to start an entrepreneur platform? How successful has it been, especially compared to going out and getting formal company training?

Hubble: Looking back on my entrepreneurial journey, it felt like something I had to do. The importance of guidance should never be underestimated. It would have been nice to have the guidance that Step By Step Business currently provides. Ultimately, this is a powerful educational opportunity for anyone looking to start a business in any niche.

This website covers everything from average start-up costs to creating a business plan to industry trends state by state. We have detailed knowledge blocks to help you create a brand name, form an LLC, obtain a bank account and insurance, and apply for the appropriate licenses and other services. I see it as my way of helping others climb the entrepreneurial ladder behind me.

It is not intended to disregard obtaining a degree from an accredited institution. It will always be in its place, but the amount of knowledge available today offers a strong alternative to getting a formal degree.

mistakes and lessons

recovery: Your mistakes and lessons learned suggest that you challenged yourself to create a platform for entrepreneurial education. What is the most important lesson you learned during your journey that every aspiring entrepreneur should know?

Hubble: One of the best lessons I’ve learned is that failure is guaranteed. It happens at some point in your journey. One of my biggest failures was my 2009 Near Field Communication (NFC) startup. NFC is now a multi-billion dollar industry representing nearly 2 billion phones and devices worldwide. However, in 2009 the market was not yet ready. I continued to put resources into his two years until he left the company as a matter of course. There are many things you can learn, but some things can only be learned by making mistakes.

My experience in the NFC space has also taught me to constantly monitor market conditions and timing. I stayed with this company because Target he loved the potential of the product while completely ignoring what the user and market situation required. Successful companies respond to the needs of the market, not the wishes of entrepreneurs. You wouldn’t start a new car dealership during a recession when purchasing power is low, but a used car dealership makes sense.

Following trends and entering an already booming market does not guarantee success. Keeping up with popular trends and businesses when you can’t surf the web can be a disaster if you don’t get the basics of business right. After all, it takes more education, whether it’s formal education or a customized education platform, to do things you’ve never done before.

it’s never the wrong time

recovery: Many young entrepreneurs are waiting for the right moment. What role does timing play in conversations about entrepreneurship?

Hubble: Perhaps one of the best pieces of wisdom I can impart to young entrepreneurs is that there is never a wrong time to start a great business, even in a recession. Look at giants like Facebook, Amazon, Twitter, Netflix, Square, Airbnb. These companies have recovered from the ashes of the 2008 dot-com bubble and recession.

Because of their financial and operational agility, start-up companies often thrive during downturns, eliminating high overheads and providing consumers with lower-cost products and alternative services.

This is not a recession issue, it is a leadership choice issue. Good leadership makes good cash flow decisions. This allows flexibility in the company’s operations, and while other companies try to cut corners, we often find capital asset acquisition deals that outsource some of the growth responsibilities to external sources. It also maximizes the talent pool as most companies lay off employees during recessions.

For the younger generation, flexibility is the name of the game. As they chart their careers, an environment that offers work-life balance and sustainable goals is part of the picture. Faced with the uncertain economy of the market, more and more people are looking to start their own businesses. Javor summarizes the process of derivative educational experience. he said: So if you want job security, start a business. “

Education remains an essential component, but according to Daniel Javor, not everyone can afford or need training provided by formal educational institutions. As a serial entrepreneur, we believe that the business school route is not always necessary for any given startup and may overlap. A targeted entrepreneurial education platform can provide a streamlined and detailed alternative to business education in the entrepreneurial journey.

Even Javor believes that formal education shapes learning efforts, even if they can hone their entrepreneurial spirit on an outside platform. So the question is, how can the education and human capital management industries support Daniel Javers’ approach to the world? Perhaps by integrating project-based learning with professionals? , including a lamp for those with experience, brings the two worlds together.

Interviews have been edited and shortened for clarity.