Cheryl is a serial entrepreneur, and she continues to look for new challenges and opportunities. The following is an excerpt from Cheryl's speech during the NY Metro Youth Entrepreneurship Challenge Finals.
“I'm really impressed. One of the reasons I wanted to be involved with NFTE is because of the creativity and energy of these young minds. It reminds me of my first entrepreneurial endeavor, but I will explain that later.
One of my favorite television shows is Inside the Actors Studio, the host asks "what’s your favorite word.” My favorite word is “sticktoitiveness.” It suggests that there is a real effort in the quest to achieve your goal. Somehow, you know with that description, there will be bumps in the road and the need for determination and perseverance.
And, that's what you need to be an ENTREPRENEUR.
Did you know that most entrepreneurs are serial entrepreneurs; they have at least 2 or 3 businesses. Most people don't start business because they know how hard it is. But interestingly enough, that's why it’s so many young superstars. The young don’t understand the risk or if they do, they don’t care, because they are young enough that it's not a problem. Most people wonder, are Entrepreneurs made or born? I say BOTH. Sure training, talent and the most elusive component, good timing are essential, but they are not enough. You need a TRUE PASSION for what you're doing.
And that brings me back to my 1st venture…
Back when I was in high school, there wasn't lyrics.com  or metrolyrics.com , a lot of lyrics were actually on the album cover. At any rate, my sister and I would write the words to all the rap and hip hop songs make copies and sell them at school for 5 dollars a copy. We saw a need AND we filled a void. We had about 250 girls in my high school and we would sell approximately 200 copies per song. That's a $1,000 per song.
That's how most ventures start. Because if you thought you can make something better, believe me, someone else is thinking close to the same thing, but the entrepreneur will start the process. When your ideas can fill a void you have the goods to becoming an entrepreneur.
Like Sumner Redstone, CEO of Viacom, one of my hobbies is reading about entrepreneurs and their stories, their success and failures, but how they STICK TO IT. Did you know that Sumner Redstone changed the way we chose to attend movies? He's responsible for and invented the multiplex theater concept. Or take for example, the founder of AirBorne , the dietary supplement with vitamins. She was an elementary school teacher. Or the creator of SPANX , to help women understand shape-wear. Or Richard Branson, the owner of Virgin Group