What does it take to turn a hobby into a business? For many, the very idea can be daunting. Yet just as any journey begins with a single step, so too does the union between personal and professional fulfillment. Starting a business will require complete dedication from all business owners regardless of gender, but a number of specific opportunities cater to women in … [Read more...]
The Art of Competition: How Your Small Business Can Survive in a Big World
It is unfortunate when small businesses close their doors due to increased competition from large brands. The bargaining power of large companies means that they can keep their costs low by negotiating better deals on leases, taxes, goods, and services. The bottom line is that their dollars go further than yours, which in turn, means they can offer better price points or … [Read more...]
How to Save a Dying Business
The cyclical nature of business suggests that at some point, your business is going to go through a down phase---a recession and oppression that is either due to owner mismanagement or the overall economy. Many know the statistics of business failure, what is less known is the statistics of business survival. Saving a dying business that has gone through a major downturn is … [Read more...]
How to Use Joint Ventures to Your Advantage
When clients approach me with helping them with their businesses, the first thing I ask is, "Who do you know well in your industry?" I ask this question because small businesses need other small businesses to help grow. The misconception in small business is that there is a 'do it all by myself' mentality. The truth is that you can grow your business as well as another’s by … [Read more...]
5 Things to Consider Before You Sell Your Business
Ending a business is usually the last thing a business owner wants to think about. However, succession planning should be a top priority of business planning. This is because it is important to think how you are going to build the value of your company. How you plan to end your company may be a necessary part of how you plan to start your company. Are you building something to … [Read more...]
Trends in Entrepreneurship – The Decline of Self Employment
The U.S. Small Business Administration has released the first report in a series on “trends in entrepreneurship.” The first report is called The Missing Millennial Entrepreneurs. It is an interesting read that is highlighted by the declining self-employment numbers overall. After reading the report, there were two things that stood out to me the most. First, self-employment … [Read more...]
Small Business and Sustainability
When talking about sustainable business practices, we tend to focus on what large, multinational corporations need to be doing differently. We criticize McDonald's and Apple for their business practices. Of course, we are correct in doing so---for pushing these companies to act more sustainably. However, small businesses and small business owners can – and should – also take … [Read more...]
Starting a Business? Here’s What You Need to Know [Infographic]
Globally, the median amount required to start a business is $15,000, but 29% of businesses fail when the owner runs out of money. That’s because 82% of startup funding comes directly from the owners or their families. Only one out of 100 entrepreneurs will ever get venture capital to help make their businesses successful. [Tweet "Only 1 in 100 entrepreneurs will get venture … [Read more...]
4 Red Flags Aspiring Freelancers Should Avoid
The freelancer boom has created a major shift in varying sectors, beginning with finance, content design, writing, real estate, and more. In fact, a 2014 study by the Freelancers Union indicates that 53 million people in the US are doing part-time work, making up around 34% of its national workforce. According to the Freelance Talent Report, 90% of independent … [Read more...]
Hey Wantrepreneur: Here’s How to Become an Entrepreneur
I never really understood what “putting myself out there” actually meant until I became an entrepreneur. I know the feeling all to well of wanting to hide behind my computer, hide behind the camera, or even hide behind my brand name. Because of the viral nature of the internet, there are so many opportunities to look like a fool. For instance, I’ve definitely had to delete a … [Read more...]