|
Entrepreneur InformationFinancial Strategies for Transitioning from Salaried to Solo7 Financial Strategies for Transitioning from Salaried to Solo Judging Entrepreneurial IdeasMost 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 CostWhen 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 ExperienceDiscover the pitfalls of owning your own business BEFORE... [you make a BAD choice!] Identifying the Right Venture Capital Firm PartnerVenture 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 OutsourceIt'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 FactorI 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 IngredientsCooking 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 EntrepreneurThe 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 MoneyBootstrapping 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 GenerationIntroduction From Entrepreneur to Infopreneur: Make Money Selling Info ProductsThe 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.
More Articles from Entrepreneur Information: |  |
|
|
AllTopTechTalent - Tech Jobs
|
|
|
Copyright � Advancing Women (TM), 1996- 