|
 |
|
|
RELATED ARTICLES
Health Insurance for Solo Entrepreneurs One of the most important benefits employed people enjoy is health insurance coverage. It is also the single most costly expense for self-employed entrepreneurs. So what can you do to reduce ever increasing costs of health care coverage? Here are a few tips. Business Startup Checklist Use this comprehensive checklist to plan each step of your new business and transform your dream of entrepreneurship into reality. These steps may not necessarily be completed in the order listed, however, you can use them as a guideline for completing all of the necessary business startup tasks. Six Degrees of Separation Through just five or six intermediaries, you could be linked to millions of others. It is the notion behind what has been dubbed the small world effect. Curb Your Enthusiasm Isn't enthusiasm a good thing? Aren't we urged to be enthusiastic about what we do? To be committed? Before Getting A Franchise Buying into a franchise is a great way to be part of a recognized brand with the benefit of lower advertising outlay. With many franchises to choose, here are some tips before you get involved with franchise: Create Your Entrepreneur Dream Team I hear it all the time. "What should I do about . . .?" As a business owner you're faced with the daunting task of making all the decisions that affect your business. Should I remain a sole proprietor, become an LLC or is an S Corp better? Should I start using an electronic PDA or stick with my trusty, but out-dated, Day Runner? In what direction should I take my marketing? Is the color right on this logo? PC or Mac? Paper or plastic? Aargh! Big decisions. Little decisions. It can be overwhelming, especially when you consider how each decision has a bearing on the success of your business. The 9 Key Distinctions of Successful Solo-Entrepreneurs! SUCCESSFUL Solo-Entrepreneurs approach life and business from a perspective that is new, fresh, and rather unorthodox. The differences are subtle, yet significant. These distinctions are more than just fads or interesting tips; they are direct, measurable SHIFTS in how you will approach your business, your personal life, your relationships, etc. - for the rest of your life! They are direct from the experience of hundreds of successful solo-entrepreneurs! How Entrepreneurs Make Money Selling Global Brands On and Off-line Did you know that thousands of companies from all over the world are looking for enthusiastic individuals to represent their products overseas? That person can be you. From Chinese toys to Brazilian bikinis people are making money reselling all kinds of products for a profit. PTO; Justification of the Means and the Ends Some would say about certain issues that the means do not justify the ends. Well more often the ends do not justify the means. For instance if you are trying to accomplish something and know that if you do use the most approved PC methods then you cannot get to the desired results, but use those methods anyway as to not appear to offend anyone, then in the end you offend everyone by wasting their time and by failure of the project. Adding a Service After You Buy a Business When you buy a business, you should have a plan. Why have you chosen that particular business? Why that particular time to buy a business? What can you bring to the business? Some of the most successful business stories are of people who buy a business with the intention of bringing their specialized set of skills to it, and using them to grow the business. The 7 Major Reasons Businesses Fail and How to Overcome Them This year, over 800,000 of the approximately 2,000,000 start up businesses will fail! Staying Ahead of the Perils, Excerpt of Entrepreneurial Motivation Speech Running a business is not an easy endeavor, it takes courage, hard work and a strategic mindset. I feel now that I am retired looking back on it all, that it is my duty to provide to new entrepreneurs a few of the secrets of how to get things done. Every year through out our long history spanning over a quarter of a century, The Car Wash Guys Team had been careful to watch changes that affected our business. One year we are watching droughts in the North Western Hemisphere and how the water supply affects our operations. We needed the water to wash cars and our countrymen need it for farming and drinking. Water is life. We also saw heavy El Nino seasons on the Western United States, British Columbia Canada, Mexico, Central America and parts of Western South America; imagine running a car wash business when it rained almost 60 days straight and we are not talking the drizzle like in the North Eastern US each year. Three Cs - What Startups Need to Get a Business Loan, Part 1 You want to get a good, solid overview of what it takes to acquire that business loan you need, especially if you are a startup. The essential element of what the lenders out there require of you can be wrapped up in the acronym, C. C. C. These are... Pre-Money vs. Post-Money Valuation When a company decides that it must raise capital, a key question that must be answered is how much the company is worth. For example, if the business needs $500,000 to get started and/or grow, how much of the equity in that company should $500,000 command? Once this question is answered, the company will go out and try to find investors. When doing so, a key question often arises as to whether the valuation is "pre-money" or "post-money." How Home-Based Business Entrepreneurs Think Too many people are trying to start their home businesses with an ordinary employee's way of thinking. This has become a common reason why not long after sitting down and giving it a fair look into even the most lucrative business opportunity they bump into, they put it away and decide not to take any chances. The Business Leader as Ultramarathoner Have you ever heard of an ultramarathon? A standard marathon is just over 26 miles. An ultramarathon is usually on the order of 50 or 100 miles, though there are some that span one thousand! Imagine the endurance required to run such a race. The Perfect Little Coffee Shop: Are You Afraid of Failure? Are You Letting that Failure Cripple You Ah, coffee, the drink of choice when I want to share a special moment with friends, when I want to sit and ponder life or when I want a moment alone. I am an avid coffee drinker. I love coffee and I love the atmosphere of a good coffee house, a café. Use Your Youth To Your Advantage You should wait until you're older and have more business and real-world experience before starting a business. You should just focus on school for now. Nobody will take you seriously at this age. Its Good to Know Your Banker Recently my bank opened a new branch that is a few miles away from my house. I used to visit the local branch that was located in the grocery store and enjoyed seeing the ladies on a weekly basis who were the tellers. Why Every Student Should Start a Business With the economic downturn, students in all the major business schools have been dropping out of their entrepreneurship classes and transferring back to classes where they think they have a secure future. Students and professionals who were once planning to start businesses now have decided to go back to their cushy jobs. Everything is going back to normal. Or at least that is how it looks. Below are nine reasons why any student should start a business:You gain experience. Owning and running your own business is an incredible way to gain experience and credentials regardless of whether you decide to stay in business once you graduate. Jaime Gonzalez of Oklahoma State University received the highest job offer in his entire graduating class. Now, there are two kickers: First, he was the founder of an IT consulting company, and second, he had a 2.4 GPA. Hmmm...I wonder if starting a business helps in getting a better job when you graduate? You have nothing to lose. I think it's safe to say that most students dip into their parents' checkbook when it comes time to pay the bills. In general, students aren't paying child support, rent, utilities and many other expenses. The worst thing that could happen if your business fails is that you get a job, have an incredible credential on your resume, and have experience that will increase your chances of success in the future. The best thing that can happen is that you'll become the next Microsoft. I don't know about you, but I think that is better than choosing between no job and jobs that you're in just for the money. Two-thirds of millionaires are entrepreneurs, according to Thomas Stanley and William Dank, authors of The Millionaire Mind. If it's the money you want, then consider entrepreneurship. You receive not only a salary, but also a lot of money if you're lucky enough to sell your company or take it public. Michael Furdyk, a successful young entrepreneur, was able to sell his business, MyDesktop.com, for $1 million when he was 16 years old! You develop networking skills. You've likely heard that your network increases your net worth. Consider the fact that by running a business and constantly being in a business community, you will develop excellent contacts. If you choose to get a job after you graduate, you will have a great pool of people who will be more than happy to hire you or send your resume to somebody who wants to. You increase your value. Put simply, starting a business in college increases the value of "the brand called you" and gives you more options. For example, an entrepreneur with a large brand value can publish a book, star in a documentary movie (i.e., Startup.com), or go straight to the top of another company. I recently met one of the founders of Diversity Planet, a job site for minorities. He spent a year working very hard on the company and has since left to take a reporting job with Dateline NBC at the ripe age of 20! People don't often don't get an opportunity like that until they are much older. Operating a profitable business in the long term is less risky than being an employee in the long term. For example, just look at the recent economic downturn. Tens of thousands of people have been laid off. I can guarantee the owners of profitable businesses are still with the business. They will be the last people to go down with a ship. Business owners can have multiple streams of incomes from different customers. If you're an employee, you only have one stream of income and therefore are bearing more risk. You will learn more about yourself and what they don't teach or prepare you for in school. Furthermore, entrepreneurship is the combination of all the disciplines of business. It includes knowledge of marketing, accounting, management and operations. Already having knowledge of these topics before you take classes on them allows you to see more clearly how everything applies. Also, you will be able to learn early-on what subjects you like so you can make better decisions on what to major in and what industries to target. It is yours. You make the rules, create your own hours, work from wherever you want and choose who you want to work with. You can also pick what interests you the most in the world and then start a business that is related to that topic in some way. If you like art, you can start a design business. If you like marketing, you can create or choose a product and then market it. If you like writing, you can write a book and do your own public relations and marketing. If you like the Internet, you can start a Web development business. You'll grow. I personally have grown a lot from owning a business. I used to be terrified to speak in front of others. Now I look forward to it. Before owning a business, I had probably read a total of five books outside of school, and I only read them because my mom made me. Since starting my business, I've probably read more than 100 books. The business has also allowed me to learn more about myself. I know that I will be an entrepreneur forever in some way, shape or form!
|
|
|
Copyright © Advancing Women (TM), 1996- 