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Entrepreneur Information
Financial Strategies for Transitioning from Salaried to Solo
7 Financial Strategies for Transitioning from Salaried to Solo
Judging Entrepreneurial Ideas
Most entrepreneurs constantly come up with new ideas. Whether they are working on another project, driving, or lying in bed, their minds are constantly churning out new products, services and ways of doing things. For these entrepreneurs, the startup challenge shifts from coming up with ideas to choosing which idea to execute.
An Entrepreneurs Biggest Cost
When launching a new product or company, an entrepreneur must consider their biggest cost - the opportunity cost. Opportunity cost is an economic term that is defined as the cost of passing up the next best alternative when making a decision. For instance, if an asset such as capital is used for one purpose, the opportunity cost is the value of the next best purpose for which the asset could have been used. In the entrepreneur?s case, this asset typically includes the entrepreneur?s time and money.
Work vs Play: Which is the Better Way to Make Big Money?
If you want to make big money, you have to play not to work.
For Business SUCCESS... Listen To The Voices of Experience
Discover the pitfalls of owning your own business
BEFORE... [you make a BAD choice!]
Identifying the Right Venture Capital Firm Partner
Venture capital firms are comprised of individual partners. These partners make investment decisions and typically take a seat on each portfolio company?s Board. Partners tend to invest in what they know, so finding a partner that has past work experience in your industry is very helpful. This relevant experience allows them to more fully understand your venture?s value proposition and gives them confidence that they can add value, thus encouraging them to invest.
Preparing to Outsource
It's important to understand when to add individuals to your business model. Adding a new team member should be an easy transition - that?s where organization comes in. Clearly defined processes such as workflow, workspace, filing system, and other key functions in the business should be identified. Structure is one of the most overlooked aspects of business success ? especially time management and documentation structures.
The Fear Factor
I recently conducted a lil' survey asking my colleagues what were their biggest fears when thinking about starting a business or running their business. The following are the top three fears that resulted from my survey and some ways to combat them.
The Boss is DEAD!
Some of us are born into families with "it", some of us are just driven over the edge to "it", and some of us crave "it", but just haven?t figured out how to attain "it." That "it" is an Entrepreneurial Spirit that is a powerful force that can be the key to your success, and yes?sometimes even failure.
Business Development: The Basic Ingredients
Cooking isn't much different than building a business. You have the basic ingredients all laid out on the counter and if you put them together in the right way - you have a nice meal to nourish your heart, body, and soul - and the pocket too. With a little creativity, it even comes out looking pretty too.
Street Smarts Vs Book Smarts, What Does It Takes To Be An Entrepreneur
The latest series in "The Apprentice" features 2 distinct group
of candidates. One group, who are only high school graduates are
termed as "Street Smarts" by Donald Trump whereas, the other
group are all college educated with some having MBAs and advanced
degrees. They were termed as the "Book Smarts".
What Kind of Business Should I Start?
It?s not uncommon to reach your 30s, 40s or even 50s and still wonder, ?What do I want to be when I grow up?? Few people are fortunate enough to be certain of their destinies early on and the rest of us are forced to do some soul searching.
Starting Your Business: It All Boils Down To Making Money and Saving Money
Bootstrapping in the context of business start-ups refers to the use of creative financing approaches such as leveraging personal savings, credit-card debt, loans from friends and family, bartering, and other means to launch a business. Some business founders use bootstrapping because they have no other choice. Just about anyone who has approached a bank has learned that ?only established businesses need apply.? Bankers typically look for cash flow, assets, an established customer base, and a successful track record on the part of the business that is seeking a start-up loan. Obviously, this is a short list that is impossible to fulfill when you are just getting started.
Defining a R&D Framework for Entrepreneurship and Innovation on Information Product Generation
Introduction
From Entrepreneur to Infopreneur: Make Money Selling Info Products
The term ?Infopreneur? is a relatively new industry buzz word that is making waves because it opens doors for entrepreneurs to generate new streams of income. Simply put, an infopreneur sells information.
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Startup Diaries: Creating the Boardgame of EntrepreneurialismThe NextWomen Business MagazineLeah Goold-Haws explains how she came to create a boardgame which teaches entrepreneurialism and has been featured in Forbes Online Magazine. Though I come from a family where my father was a multiple small venture entrepreneur, after my divorce, ... |
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Ad agencies jump from jingles into entrepreneurialismThe News JournalDeutsch managers selected the initial two the agency will back: a floral-delivery service called Bouqs and an independent movie titled Between Us. “The spirit of entrepreneurialism is just burgeoning in people working in ad agencies,” says Kim Getty ... |
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Where are the start-ups? Column - USA TodayUSA TODAYSince 2008, this country hasn't celebrated achievement or entrepreneurialism. Instead, we've heard talk about the evils of the "1%" " about the rapaciousness of capitalism, and the importance of spreading the wealth around. We've even heard that work ...and more » |
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Independent Financial Adviser (IFA)FT AdviserCulturally, the firm is extremely professional and most advisers have advanced qualifications while, as a reflection of their origins, ambition and entrepreneurialism are embraced as key to continued growth in the future. In addition to an attractive ... |
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Understanding How Physicians ThinkBecker's Hospital ReviewMr. Leland said the key to moving forward is to convene conversations that matter, cultivate proximity, rebuild the spirit of entrepreneurialism, honor the individual and the group, and to focus on new business opportunities. Mr. Leland also ... |
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Oil Change Guys History; Part I
How do franchise companies come to be? How do they start. What type of a person or entrepreneur becomes a franchisor? Below is the story of how one small company became a franchisor in the mobile oil change business. The story is written from our point of view and opinion. We claim freedom of speech, of the press in its entirety since a good part of it is opinion based.
How Much Risk is Necessary to Grow Your Business?
A business owner is thoroughly responsible for their own financial survival and possibly the financial survival of their employees. Business owners, for the most part, seem to be "risk takers", who really don't easily "go with the flow". They are inventive and somewhat confident, as just having their own business does mandate that they possess these qualities.
Financial Strategies for Transitioning from Salaried to Solo
7 Financial Strategies for Transitioning from Salaried to Solo
How To Grow Your Micro-Business
If you want to grow your micro-business (defined as a
business with fewer than five employees), you might
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Entrepreneurship Story; Over Regulation in Franchising Final Chapter
Sally and Jim have launched their automotive franchise business and are now selling franchises; problems arise as lawyers and over regulation threaten to ruin their life's work, see how it ends; tragedy or success. A realistic story of modern day franchising. . .
Go Slow to Go Fast - Why Over 80% Of High Tech Startups Fail And What To Do About It
With billions of dollars of venture capital residing down the street on Sand Hill Road, two Stanford professors are attempting to answer a fundamental question "why does it always take longer and cost more to build a hi-tech company than anyone ever expects?" For all the intellect, experience and graduate degrees in the venture capital industry, the sad truth is that 80% of venture capital investments do not pan out. While the reasons for this high attrition rate are too numerous to list here, a simple fact defines every successful investment - the company figures out how to bring in more money than it spends. The secret to solving this fundamental equation these two professors believe lies in the Sales Learning Curve.
Everything You Wanted to Know About Public Domain Info, but Were Too Afraid to Ask!
What to Look Out For:
Entrepreneurial Traits that Drive Sales
Frequently overlooked and hidden deep within our marketing tool box is the ultimate marketing vehicle for your business ? you! Many small business owners are so busy figuring out how to increase sales and revenue they forget to grow themselves as business owners. If you aren't evolving yourself, aren't you being counterproductive to your business development? Marketing our businesses isn't just about what ads to buy or what networking event to go to next; it's about us as people, as entrepreneurs. The following marketing traits are often overlooked by entrepreneurs but are pivotal to your long-term success. What's more, they cost very little yet earn a savvy entrepreneur a lot. Show Your Personality -- Customers want to know who you are. That's great that you offer the fastest tax services in town, or your gift baskets can be custom-made and delivered anywhere in 24 hours. But who are you? Your customers and prospects want to know. Especially if you're facilitating business on the Internet, building trust is key to making a prospect feel comfortable buying from you. One of the most effective ways to build trust is to express your personality.
Business Ideas
Richard Branson, billionaire founder of Virgin Records and Virgin Atlantic Airlines, may be better known for his efforts to circle the globe in a hot-air balloon than for his business successes. He suggests that "Being an adventurer and an entrepreneur are similar? You're willing to go where most people won't dare."
Franchising Companies Need New Franchisee Checklists
When franchise companies are moving fast in the market place they must pay attention to the details. If a franchisor fails to give the required items as outlined in the franchise agreement to the franchisees on the prescribed timeline they risk legal issues and regulatory issues. In addition even if they do provide the items on time, there is a chance later that a franchisee may claim that something was not provided and they will use this to break the franchise agreement, sue or file a complaint with regulatory bodies at the state level or even the FTC, Federal Trade Commission. But if you keep proper records and have checklists and monitor dates and deliveries you can win a law suit or force a regulatory agency to backtrack.
How to Start a Franchise
Franchising Information
For Business SUCCESS... Listen To The Voices of Experience
Discover the pitfalls of owning your own business
BEFORE... [you make a BAD choice!]
An Entrepreneur and a Life To Be Remembered
I was reminded of my own mortality today. I guess you can say I had a near death experience, though the death I experienced was not my own.
Fear of Failure
Of all the real or perceived impediments to success, the biggest is the fear of failure. Certainly, there are often many other obstacles to overcome, but it is this one phantom that prevents most people from even attempting to create the success they imagine that they want.
Preparing to Outsource
It's important to understand when to add individuals to your business model. Adding a new team member should be an easy transition - that's where organization comes in. Clearly defined processes such as workflow, workspace, filing system, and other key functions in the business should be identified. Structure is one of the most overlooked aspects of business success ? especially time management and documentation structures.
Starting Up and Keeping Going
So you had that fantastic business idea, the one that's
going to be wildly successful and make you a fortune - and
even better, you actually did something about it and started
your own business. Good for you! Not everyone gets even
that far. Most people sit and day dream about what they
might do if only ....
Start a Business Selling Government Surplus
Did you ever wonder what happens to all that government equipment that is
purchased each year by federal, state, and local governments? They don't just throw
it away! By law, all unused and out-dated equipment must be sold back to the
public at a public auction! That's right. Everything is available to you and I the
American taxpayer. There are primarily two ways that the government does this: on-
site auctions or online auctions.
Message to Prospective Franchisees for Franchisors
Many franchise companies fail to send the proper message to their prospective franchisees. This is partly due to the over regulation and intensity of litigation in the industry. Smaller franchisors are generally hurt the most from these factors and consumer or buyers of their American Dream seem to feel slighted at a the impersonal approach. Many franchise company's sales departments walk a fine line between disclosure laws and the information they are allowed to depart to the prospect franchisees. This immediately causes friction. To alleviate this problem smaller franchisees need to send a more personal message in the name of their founder to re-assure prospects that they care. Below is a sample letter our company, The Car Wash Guys, www.carwashguys.com , has used to allow our prospects to see thru the legal quagmire created by the regulatory bureaucracy and the franchise lawyers in their haste to sue franchisors. I recommend you copy this article read the letter a few times and put it into your own words so that you convey how you truly feel, make it sincere and understand that your prospect needs to know they are more than just a number.
Applying The Daffodil Theory into Business Practice
At times all of us need a bit of inspiration to add to our day. When I first read this
article, I had started my own home based business and was in a bit of a slump. This
inspirational story was exactly what helped spring me into action and keep on
going.
Achievements Outweigh Education and Experience
Q: When it comes to succeeding in business, which do you think is more important: education or experience?
-- Regina M.
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