How to Kickstart Entrepreneurial Startups by Jim Beach

On Episode 144 of The No Limits Selling Podcast, we have Jim Beach, a serial entrepreneur, McGraw-Hill bestselling author, speaker, and award-winning radio host. After starting as an entrepreneur at age 25 and growing his first company to over 700 employees without any capital infusions, Jim went on to be a #1 ranked business school professor.

Jim’s classes (that started a real business every semester) were noticed by a Bloomberg reporter and that led to

1) the McGraw-Hill bestselling book School For Startups,2) the 4x global b-plan contest-winning School For Startups online entrepreneurial program, and 3) the SBA Media Award-winning School for Startup Radio on 25 AmFm stations.

He has spoken for UPS (2 national tours), Wells Fargo (over 25 engagements), CitiCorp, Sam’s Club, First Data, Chic-fil-A, Toshiba, SunTrust, McKinsey, Edelmans, BBVA Compass Bank, and countless others, and is known for upbeat, entertaining talks. 

The School for Startups Radio show won the Small Business Association Media Award and it is featured on 25 AM/FM stations and several of the online platforms. Interviews include authors Brian Tracy, and Ken Blanchard, Ted star Simon Sinek, Shark Tank star Kevin Harrington, Astronaut Mae Jemison, Pixar CFO Lawrence Levy, Cisco CEO John Chambers, Entrepreneur Russel Brunson, and over 4,200 others.

Jim’s McGraw Hill book School for Startups was published in June 2011 and reached #9 on all of Amazon and #1 on the business section. The book continues to be a best-seller after many years and received 4.8 stars from over 110 reviewers. It was excerpted by Entrepreneur magazine and the Wall Street Journal India. Jim was featured in a UPS commercial, was referred to as the “Simon Cowell of venture capital” by CNN, and has appeared on NPR, MBNBC, CNN, the New York Times, and many others.

Jim has led fundraising efforts for real estate apps, healthcare IT, and hospitality companies in the last several years. He and his clients have been invited to White House Christmas Parties (Jim has twice presented to White House officials) and he has appeared on shows like “Hannity.”

At the age of 25, Jim started the American Computer Experience and grew the company with no capital infusion to $12 million in annual revenue and over 700 employees. The company was the world’s largest technology training company for children and enjoyed tie-ins with Microsoft, Intel, Lego, NASA, and many others. After this business was sold, Jim taught at Georgia State University and was the top-ranked Business School professor for 12 semesters in a row.

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Summary


Introduction and Background

The podcast begins with an introduction of Jim Beach, an entrepreneur, author, and lecturer. He is known for his book "School for Startups" and his radio show. Jim's journey into entrepreneurship started when he was 26 years old, and he has since founded multiple companies. He is a strong advocate for low-risk entrepreneurship, a concept he elaborates on during the podcast.

Low-Risk Entrepreneurship

Jim Beach discusses the concept of low-risk entrepreneurship, which he defines as starting a business without taking significant financial risks. He argues against the common belief that entrepreneurs must be creative and risk-taking. Instead, he suggests that successful entrepreneurship can be achieved by copying an existing business model and executing it better. He emphasizes the importance of minimizing risk and maintaining a stable income source when starting a business.

Creativity in Entrepreneurship

Despite his stance on low-risk entrepreneurship, Jim acknowledges the role of creativity in business. However, he argues that creativity should not be the starting point for a business. Instead, it should be incorporated as the business grows and evolves. He believes that creativity can often lead to unnecessary risks and complications in the early stages of a business.

The Role of Passion in Business

Jim Beach challenges the popular notion that passion is a prerequisite for starting a business. He argues that passion often leads to poor business decisions, as it can cloud judgment and lead to financial risks. Instead, he suggests that passion should come from the process of running a business successfully.

Conclusion

In the podcast, Jim Beach, an accomplished entrepreneur, and author, challenges conventional wisdom about entrepreneurship. He advocates for a low-risk approach to starting a business, emphasizing the importance of financial stability and the execution of proven business models over creativity and passion. While acknowledging the role of creativity, he suggests it should be incorporated as the business evolves rather than being the foundation.

Similarly, he views passion as a byproduct of successful business operations rather than a prerequisite. His insights provide a fresh perspective on entrepreneurship, encouraging aspiring entrepreneurs to prioritize practicality and risk management for sustainable success.

Questions & Answers

Who is Jim Beach?

What is Jim Beach's philosophy on entrepreneurship?

What does low-risk entrepreneurship mean according to Jim Beach?

How does Jim Beach view creativity in entrepreneurship?

What is Jim Beach's stance on passion in business?

Where can I learn more about Jim Beach's approach to entrepreneurship?

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About the author 

Umar Hameed

Umar Hameed is an expert in changing individual behavior and improving team dynamics. He uses techniques and tools from the world of Applied Neuroscience and NLP to make individuals and organizations more successful. His business savvy and neuroscience combination gives him the unique ability to help salespeople become exceptional. Umar is an international keynote speaker who has done presentations in 16 countries. ✅✅✅He is the author of three books; the latest is Unleash Your Crazy Sexy Brain!


Tags

Business School, Entrepreneurship Podcast, sales growth


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