People who want to be successful in life have strong values and spend their lives following what is essential to them. It’s easy to be weak when people do not have firm life values. Many people are not content to accept life as it is. They always search for methods to make their lives better while making a difference with their contributions. Entrepreneurs are becoming change-makers who use innovation to alter their communities. Entrepreneurship is a way people can boost economic growth and help address the world’s economic crisis. They can help to alleviate poverty, promote education, and close the socioeconomic inequality gap. Several entrepreneurs have been on a path of struggles but only the strong ones could handle the pressure. John Shen, a multitasker and entrepreneur has been providing services to the entrepreneur world since 2004. Shen supports small businesses and indicates that the secret of success lies in dedication and hard work.
There are several factors involved in entrepreneurship that include risk, pressure, and the requirement for a positive outcome. If any company experiences a downturn or collapses, the owners should not try to continue and salvage the firm by exerting resources and time. They must learn to let go of the weight they are carrying in a single second as Shen did. Entrepreneurs can focus on fixing difficulties without thinking of the outcome. Knowing how to relieve stress and pressure has become one of Shen’sutmost talents, allowing him to remain calm while operating five businesses.
Stella, Shen’s wife, as an alumna of the Merage School of Business at University of California, Irvine donated to sponsor the “New Venture Competition”, a historic university-wide pitch competition in 2021. The competition has been renamed “Stella Zhang New Competition.” This event drew around 100 student teams on the UCI campus to compete in the 2021-22 season alone, leaving a lasting impression on the future professional growth of the young entrepreneurs. While Shen’s company, Sunstone Management, and his family continue to finance and support many more on-campus pitch competitions, they also quickly discovered new possibilities to sponsor a few extremely prominent demo day events around California. In 2021, his firm, Partake Collective, sponsored “Born in California,” the first demo day event in the history of the University of California system, held by Beall Applied Innovation at the University of California Irvine. In 2022, Shen’s other firm, Sunstone Management, took over the sponsorship of Partake Collective for “Born in California” in the second year. Shen’s companies became the primary driving force behind this incredible marketplace designed to provide direct capital access to early-stage startups thriving in the University of California system, which includes ten of the world’s most renowned research universities.
Shen indicates that the most effective program for fostering the growth of early-stage firms is a tech accelerator. It also acts as an excellent investing tool for investors to seek and pick innovative firms with the greatest potential for future valuation increases. The investment success of first-generation accelerators like Y-Combinator (founded in 2005) and Tech Stars (founded in 2006) inspired Shen to investigate the new but rapidly developing business. Shen’s study revealed a tremendous need for accelerator operations throughout the country and other parts of the world. In 2019, he decided to create additional accelerators.
The extent and quality of an accelerator’s services are heavily reliant on access to and management of local entrepreneurial resources. An accelerator must find high-quality, typically sector-specific experts to act as cohort mentors. It is a short-term training program (typically 3-6 months), but there is so much incorporated into it that cohort members may swiftly learn and accelerate in the most essential stage of the business. Shen approached local governments as well as academic partners. Sunstone Management was able to develop more accelerators using the same strategy in 2022. All of these accelerators are rapidly expanding and financially sound. This novel approach has made immediate beneficial contributions to the American startup ecosystem in a variety of ways. It was Shen’s view that his five firms will contribute to one of the fastest-growing and most dynamic inventive and entrepreneurial ecosystems in the United States that later came true.
Shen’s company, American Lending Center has grown to become one of the most successful small business lenders in the nation since 2009, with a geographic reach including 19 states and the District of Columbia. It had successfully sponsored and completely funded 82 EB-5 projects, all of which were funded entirely by secured senior loans made available through government lending programs such as the SBA 504 program. These programs resulted in the creation of over 10,000 full-time employees across the United States, as well as the assistance of over 600 high-net-worth foreign families in their immigration petitions.
When it comes to being an entrepreneur, failing is half the battle. All you have to do is keep struggling and learn to remove the stress and strain on yourself in a split second. Business pioneers like John Shen aim to assist new entrepreneurs in a way that makes the process of starting a new business easy and enjoyable.