Claire Sterngold

Ye! Community Coordinator (Media & Communication)
Geneva, Switzerland
http://www.yecommunity.com

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About me

I hold a master's degree in cultural anthropology, I am passionate about social justice, political economy, and global citizenship. What does it mean to be a citizen, individual and entrepreneur in the post-modern age? I enjoy deconstructing discourse and researching the ever evolving economy. Call me a book nerd if you will!

Ye! Community Coordinator

Ye! Initiative to provide a platform for budding young entrepreneurs through creating a space where entrepreneurs can expand the visibility of their business ideas, receive coaching, and participate in a community of like-minded individuals. My role is to facilitate and sustain connects between Ye! and its members from around the globe.

Posts on the ‪Ye!‬ Activity Stream

Thank you so much Abhishek for volunteering your time to answer all the questions from the Ye! Community. Some really good questions and excellent answers were posted! Thanks to everyone who joined in. Make sure to look out for more coaches participating in Ask A Coach Hour in 2018!

Comments

  1. Thank you Claire. It was an immensely fruitful experience. My best wishes to all entrepreneurs. As the Whole Earth Catalog said and Steve Jobs repeated: "Stay Hungry, Stay Foolish" and don't drown out your enthusiasm and zest for life against all odds. The people who change the world are the ones who think they can. Be unreasonable and persist.

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Another entrepreneur asked anonymously: Could you give tips on how to be efficient in terms of tracking revenue and expenses records? Do you have a template we can use for that?

Comments

  1. Two great books i read on the topic are "The Cash Flow Quadrant" and Rich Dad, Poor Dad" by Robert Kiyosaki. Having said that, a number of templates are available online to help you start thinking about categorizing your revenue and expenses (e.g. https://templates.office.com/en-us/Budgets). The first tip is discipline. track your revenue and expenses almost everyday if you are a really small business. Second, use off the shelf and free accounting software so you dont have to reinvent the wheel (zip books, quick books are two i know). Third, think of business budget as your own personal budget. I would also recommend taking online classes from lets say Khan academy on accounting 101 if you have time.

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Another entrepreneur anonymously asked: How do you build a network as a startup or small business owner? How do you gain the trust of the client? People often feel young entrepreneurs don't have enough experience to be trusted. How can we as young entrepreneurs work against this idea?

Comments

  1. Sometimes, you start a grassroots movement by working at the grass root. You need to test your product / service with friends and friends of friends who will spread your word around. Action speaks louder than words. Once you have demonstrated value with immediate friends and family, they will be your ambassadors and spread the word around. After that, listening to every single client and making sure you consistently exceed their expectations will build trust. Remember reputation takes years to build and one mistake to break.

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Hi Abhishek,

Thank you for taking the time to join the community and volunteer your time.

One entrepreneur asks anonymously: How can Agribusiness entrepreneurs in developing countries (Africa) build a sustainable enterprise since it is difficult for them to have collateral which is essential for BANKS and other financial providers? what alternatives are available to them to access finance?

Comments

  1. Hi Claire, Thank you for your question. Almost every entrepreneur who started small had to raise funds from friends and family. That is the most oft cited source of funds. Second, co-operative banks, community credit unions, affinity groups and microfinance and non banking finance corporations typically serve clients not served by big banks. Thirdly, the entrepreneur can start generating revenue from a few clients and demonstrate "proof of concept" which can be a great way to crowdsource in case the location in Africa has crowd sourcing. Lastly, angel investors and wealthy individuals who identify with your mission are also another option.

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