mentality of success: learning from the immigrant business experience
DESCRIPTION
bThis presentation was made on 4/21/2012 at the National Hispanic Leadership Conference. The goal is to highlight the amazing success stories of immigrant entrepreneurs, and to encourage others (especially non-immigrants) to "Think and Act Like an Immigrant" (quote from billionaire Omid Kordestani, 12th employee of Google, inventor of its business model, and immigrant from Iran/UK).TRANSCRIPT
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Richard Herman
Mentality of Success
Learning From the Immigrant BusinessExperience
17th Annual Hispanic Leadership Conference
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Key to Success: “think like an immigrant” Omid Kordestani
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“IMMIGRANT, INC” ---- A CULTURE
Family Education
Entrepreneurship Self-Reliance
ThriftLove of Country & the
Dream
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….Isn’t “Immigrant” a Dirty Word?
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George Carlin’s 7 Dirty Words
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Number
of Shows
Including
Discussion
of Illegal
Immigration
in 2007
Lou
Dobbs
Ton
ight
O'Rei
lly Fac
tor
Glenn
Bec
k
182
146
74
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Proportions
of
Discussions
on Illegal
Immigration
Mentioning
Crime in
2007
Lou
Dobbs
Ton
ight
O'Rei
lly Fac
tor
Glenn
Bec
k
52%45%
39%
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Immigration and Crime FACTS
San Diego, Phoenix, El Paso, and Austin
Immigrant Incarceration Rates are one-fifth the incarceration rates of people born in the U.S.
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Run for the Border 3 Mile Run
Get your Green Cards Stamped
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Growing Corn, Not Raising
Families
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We don’t talk about immigrants as the
Dream-Keepers, the Job-Creators, the Bedrock of
Family-Values, the ENGINE that makes
America work!
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A New Local/National Movement:
Welcoming Immigrants to SpurEconomic Growth
Chicago Mayor’s Office for New Americans
Global Philly
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Immigrant-Founded Companies
Compiled by Richard Herman, www.ImmigrantInc.com
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Latino-Owned Business in USA
2.8 Million Businesses
$400 Billion in Annual Revenue
$65 Billion in Payroll2.2 Million Employees
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* 40% of Fortune 500 companies were founded by an immigrant or child of an immigrant
* These companies employ 10 million people worldwide, and generate $4,200,000,000,000 in revenue per year
Immigrants Start Companies & Create Jobs
2011 study by Partnership for a New American Economy
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Ford Google Intel
GE Budweiser Home Depot
AT&T McDonald’s U.S. Steel
Boeing IBM Dow
Disney Kraft UPS
Apple Procter & Gamble Estee Lauder
Hertz Levi’s DuPont
Pfizer Bank of America Heinz
7 of 10 most valuable brands in the world were created by U.S. immigrants or
children of U.S. immigrants
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• 13,740 Asian owned businesses had sales of $5.1 billion, and employed 42,955 people•7,109 Latino owned businesses had sales of $1.3 billion and employed 11,348 people•2009 purchasing power of Ohio’s Latino’s totaled $6.6 billion (increasing 334% since 1990)•Asian buying power totaled $6.9 billion (increase of 270% since 1990)
Ohio Immigrant Entrepreneurs & Consumers: The Facts
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“To immigrate is an
entrepreneurial act”
--Ed Roberts, Founder MIT Entrepreneurship
Center
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In 2012, with the Rust Belt & U.S. economy stuck in
first gear, it’s time we remember……..how to
drive the economy …..FAST
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we welcome the job-creators
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When it comes to job growth, STARTUP companies aren’t everything……..
they’re the ONLY THING!
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• ALL net job creation in America over last 25 years comes from STARTUPS --- creating 40 million new jobs
• New Firms add an average of 3 million jobs in first year
• Older companies lost 1 million jobs annually• --- Kauffman Foundation
STARTUPS: New employment paradigm
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So WHO are behind the startups in America?
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USA: Immigrants Driving the New Economy
& Urban Revitalization
* Immigrants twice as likely as native-born
to start a business; * Immigrants founded more than 50%
of the high-tech companies in Silicon Valley;
* Immigrants are more likely to earn an advanced degree, invent something, and be awarded a U.S. patent;
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* 25% OF ALL PUBLIC, VENTURE-BACKED FIRMS IN U.S.
FOUNDED BY IMMIGRANTS
* ADD HIGH TECH LABEL, PERCENTAGE INCREASES TO 40%
* MARKET CAP OF $500 BILLION --- PUBLIC, VENTURE BACKED
IMMIGRANT COMPANIES
The venture capitalists know a
deal when they see one
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*Immigrants fi ling patents at twice rate of American- born.
*Immigrant patent fi lings: 72% Qualcomm, 65% Merck, 64% GE, 60% Cisco
Immigrants Are Driving U.S. Innovation
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Intl Students Who Stay = Jobs for U.S.
For every 100 international students who stay after earning U.S. advanced degrees in science, technology, engineering or math a CREATE 262 JOBS IN AMERICA
2011 Study by American Enterprise Institute & Partnership for New American Economy:
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And not just PhD international students ----- all hard- working
immigrants with a dream.
It’s all connected.
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REFUGEES CAN CHANGE THE WORLD
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* Undocumented Workers Negatively Impact U.S. Worker Wages by 0.15 % --- less than 2/10 of of 1%
U . S . F e d e r a l R e s e r v e B a n k , A t l a n t a
* Each Lower-Ski l led , Non-Ag Worker in Shortage Occupat ion creates 4 .6 American Jobs .
P a r t n e r s h i p N e w A m e r i c a n E c o n o m y
How About Undocumented Workers & Lower Skilled Jobs?
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Immigrants largely compliment, not displace, American-born workforce.
Immigrant workers usually work in high-skilled or lower skilled jobs, where U.S. has a shortage of workers.
Today, there are about 3 million unfilled jobs in America
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$1.5 trillion added to GDP in next 10 years
….If we legalize the 11 million undocumented persons in U.S.
Study at UCLA,
2010
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Immigrants Can Drive Exports
Research in Sweden demonstrates that a 10 percent increase in immigrant population was linked to a 6 percent increase in bilateral trade with the immigrants’ home country.
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Immigrants have created millions of jobs for Americans, and will create millions more….
if we let them --- in advanced manufacturing, clean energy, biotech, advanced materials,
exports….
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No Thank You!
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This is what NYC Mayor Bloomberg calls:
“National Suicide.”
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A New Local/National Movement:
Welcoming Immigrants to SpurEconomic Growth
Chicago Mayor’s Office for New Americans
Global Philly
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Conversation on Immigration & Immigrants
BROKEN
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“The richest regions are those with the highest proportion of immigrants.” President’s Commission on
Immigration, 1953
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Want to Win? Build the most powerful teams on the planet (just like NBA)
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Talent is the New Oil. Drill, Baby, Drill!
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“World Is Flat” Guy, Tom Friedman
“Pour into the America the most diverse, smart and energetic immigrants from every corner of the world and the stir and repeat, stir and repeat, stir and repeat.”
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It’s important that we understand WHY so
many Americans fear and loathe the new
immigrants
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America’s Demographics Are
A-Changin’
* Last decade, 85% of population increase from racial & ethnic minorities
* 1 out of 7 new marriages are interracial
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* Young whites (under 18) are the minority in 10 states, including Arizona
* By 2021, the majority of children 4 and under will be minority
* By 2042, the majority of all Americans will be minority
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it’s all connected
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HYPER-CONNECTIVIT
Y
What Does the New Economy Crave?
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Silicon Valley Economy Network
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Cleveland Economy Network
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“I am concerned by the majority’s attempt to manufacture tension between African-Americans and immigrant communities. It seems as though they would like for our communities to think about immigration in terms of ‘us versus them,’ and I reject that notion.”
March 1, 2011, Rep. Emanuel Cleaver (D-MO), Congressional Black Caucus
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John Sibley Butler, Director of Entrepreneurship, University of Texas, Austin
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Putting Out the Welcome Mat
- Building the “Intercultural City”
- Abandoning practice of segregated diversity
Our Future Is in the “Mix”
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Philly enjoys an ecosystem that welcomes & connects immigrants, revitalizing neighborhoods
After decades of out-migration,
Philly shows population increase for first time in 60 years --- in large part due to influx of immigrants between 2000 and 2010
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Nearly 2/3 of America is an
immigrant, a child or grandchild of an
immigrant, or married to an
immigrant
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some came to these shores
voluntarily……..some did not
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It’s in our DNA
we are strivers and survivors
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We Are All Immigrants
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Can Immigrants Help Save the Rust Belt & U.S. Economy?
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7 Steps to
“thinking like an immigrant”
1.) Explore the world. Become a “Marco Polo.” (get out of your comfort zone)
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2.) Education. Take more classes! Regardless of your age or stage in life, never forget that your “inner immigrant” craves life-long education and reveres education as an asset than can never be taken away from you.
7 Steps to
“thinking like an immigrant
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7 Steps to
“thinking like an immigrant
3.) Honor Parents’ Sacrifice. “Honor thy father and thy mother.” Honor their sacrifice with every step you take toward your dream. Leverage this motivation --- fulfill your moral duty to achieve success.
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7 Steps to
“thinking like an immigrant
4.) Collaborate & Team-Up. Find the best partners. You can’t do it alone. Find the very best partner (often this will be an immigrant) and team-up. Look to groups like HBA, TiE, HYSTA, NSHMBA, Techwadi.
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7 Steps to
“thinking like an immigrant
5.) Take Risk. Make some big bets in your business and professional career. Immigrant business success has a lot to do with high risk tolerance.
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7 Steps to
“thinking like an immigrant
6.) Embrace Desperation. Act like you have nothing to fall back on, and work like your life depends on it. Convince yourself that your savings account is empty, and that your daily work offers the only hope of survival. Eat what you kill!
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7.) Dream. And dream BIG!
7 Steps to
“thinking like an immigrant
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Want Success?
THINK LIKE AN IMMIGRANT!
For More Info: www.ImmigrantInc
.com