I can already hear you groaning – “Working with relatives? I’d rather save the familial drama and handle everything by myself.” Unfortunately you may not be able to juggle all the responsibilities of a new business single-handedly. Launching a business, getting new customers, executing successful strategies and securing sales requires a savvy business team. Although [...]
Category Archives: Starting your Business
Breaking Down Your Business Model
Simply put, the business model is how you’re going to make money. Think about how you can monetize your business idea. How much will people be willing to pay for your product or service? Survey the market if you’re not sure. Look at your competitors’ websites and even in their stores. Determine whether you will [...]
How Much Does it Cost to Start a New Business?
Determining your startup costs can be complex. There are many variables to think about and in some cases, the best you can do is to make educated guesses. But the more accurate you can be in estimating your costs, the more likely you are to fund your startup appropriately, and therefore be poised for success. [...]
Turn Frustration Into Success
Are you frustrated? All of us are at one time or another—but not all of us have the inspiration to channel our frustration into a business idea. Do you? If there’s something you can’t find, do or buy—a problem you can’t solve—there’s a business waiting to be born. If you’re feeling frustrated by something, chances [...]
What’s in My Financial Plan? Part II
Last week, I went over the first five sections crucial to a financial plan. The next four sections are just as important and include fundamental information you will need to present when you meet with potential investors. Remember a financial plan is necessary when you want to attract outside funding but it is also an [...]
Are You Starting Smart?
What’s the state of small business startups? A new report out from LegalZoom and the Ewing Marion Kauffman Foundation, the Startup Environment Index 2012, polled over 1,400 entrepreneurs who legally formed businesses last year. Here’s some of what they found: The most popular startup industries are low-cost. With financing harder to find and risk somewhat [...]
What Bowerbirds Can Teach You About Sales & Running Your Business
Nature is remarkable. Not every animal is equipped with the power, capability and sheer mass that it needs to triumph over any situation BUT many creatures can act as if they have all that they’re lacking – and this in turn allows them to get what they want. The Bowerbird (male) for example, stages “scenes” [...]
Starting A Franchise
There are a lot of sources out there that will tell you how to start a franchise and eventually how to run one. So, how do you start your search? Too much information almost makes decision-making worse. Here we’ve outlined some resources for those looking to open a new franchise. 1. Ask your friends. You’ll be [...]
What is Your Potential Investor Thinking?
Imagine this: you’re sitting across a conference table pitching to an angel investor. They’ve got the financial resources you need and you’re one decision away from either making or breaking your startup idea. Wouldn’t it be helpful if you could understand exactly what your investor is looking for, what they would find as an attractive [...]
6 Low-cost Businesses You Can Start Now
Are you eager to start a business, but not sure what type to is right for you? IBISWorld has released its list of the hottest industries for startup businesses, which might give you some inspiration. The good news? Online services are hot, and if you’ve got some tech savvy, you don’t need a whole lot [...]
