Category Archives: Small Business

5 Tips to Budget as a Startup

Today’s guest blog post was provided by Paisley Hansen, a freelance writer.

a9fe3ce3-5b40-41ab-ad56-82add12268cb
Over 90% of startups fail and there are about 627k new business started every year. This is not meant to be an in-depth business overview but merely some tips to keep in mind to assist a start-up in not contributing to that 90% statistic

3482fd34-5b5d-4c0c-94da-d70ee4b0e850
Keep track of ALL your expenses

This may seem obvious, but you may be surprised how much is being spent on non-essential items and services. Make a record of everything purchased and organize them by what is essential and what is discretionary. Many startups when securing the first round of funding, or turning the first profit, splurge on office spaces. It’s hard not to “show” your success. You don’t need to go all out, just snag some cheap office furniture and make do. Read the rest of this entry

How Entrepreneurs Position Themselves to Succeed During the Holidays

holidayshopping
We are in the mist of holiday season. Thanksgiving, Christmas and New Years all happen back to back which means this is the time of year when many people mentally checkout. The mindset is to enjoy the holidays for an entire month and then go into the new year focused, ready to achieve big things.

But this wishful thinking never goes as planned. If you are already an average person who operates at an average level like the majority of people, completely shutting down for an entire month only keeps your life in the company of the average.

What is the average person doing during the holidays? They are usually spending money that they don’t have so that they can “enjoy” the holidays.

What is the difference between a successful entrepreneur and the average person? How do entrepreneurs get ahead during the holiday season?

Entrepreneurs have systems to make money while the average person trades their time for money. The average persons time away from their job means that they are not generating any money.

A successful entrepreneur is making money and working even while they are enjoying the holidays. The reason this is able to occur is because the entrepreneur has put systems in place that allow for them to stay in contact with their customers so that interaction and sells can continue to happen. Read the rest of this entry

Waiting for the Response….

Waiting
What is one of the most heart pounding, anxious moments that you face as an entrepreneur? Waiting for the response.

Waiting for a potential customer’s response to your proposal can be a difficult time for many entrepreneurs because you are hoping for a yes and dreading a no. During this period of time, you think of all the reasons for why they could say no, while thinking of how great it would be for your business if they said yes.

I understand the situation you are in. You are a small business and you are eager to gain customers so that you can actually feel like you are running a business. You are chasing customers, while trying to stay enthusiastic about your business, even when things seem like they are leading to nowhere.

Gaining this customer who you are waiting on a response from, will not only be a source of revenue but it will also give you some much-needed confidence to continue as an entrepreneur. Read the rest of this entry

How to Make Your Employees Your Most Valuable Assets

empowering-employees
For a long time it has been easy to assume that a company values their customers first and foremost. Is this why high employee turnover has become such an epidemic? It shouldn’t be any secret; because of their loyalty, strong client relationships, and extensive knowledge of the organization, a company’s employees should rank above all else in terms of worth. Read the rest of this entry

How to Turn Your Failing Business Around

goingoutofbusiness
They say embrace it but many of us hate it… FAILURE. Failure is viewed as a lesson(s) to learn from but who really likes to fail with a business idea that they worked so hard to establish?

No one! And I don’t care how you try to spin it as something to be proud of because you tried and learned in the process. Failure just doesn’t feel good, especially if there are financial consequences for your failure, which can be painful.

The failure rate for small businesses is 80% within the first 18 months. That is an insane percentage of businesses, and far too large when a healthy economy is dependent on successful small businesses. Read the rest of this entry

Don’t Pay More than You Have to In Taxes

bookkeeping-615384_640
Today’s blog post is a guest post provided by Maple C of http://inspirationspark.us/

Tax season is a time when, like it or not, we reflect upon our financial decisions over the past year. Some of our choices will result in extra funds we’ll have to send to Uncle Sam, and thankfully, others will help keep money in our pockets.
While most of us don’t necessarily look forward to tax time, those who do usually feel a sense of victory in receiving a sizeable refund after taking advantage of as many tax deductions as possible. And there are many things that you, too, can do to help ensure that you aren’t paying a dime more than you have to this tax season. Here are a few suggestions to help make that happen: Read the rest of this entry

F.O.C.U.S. and Its Importance for Entrepreneurs

John-Lee-Dumas-2xzqvvg2pmk06jdzj9p2x6
I was going through my Google Alerts for Entrepreneur and Entrepreneurship the other day and came across an interesting article on Entrepreneur. It was an article that talked about the 4 Strategies John Lee Dumas used to build a $250k a month podcast. If you are not familiar with John Lee Dumas, he is the founder of Entrepreneur On Fire, which is a great podcast for entrepreneurs to have on their list of podcast. Read the rest of this entry

Why Entrepreneurs Must Love the Hustle

hustle-quotes-5
HUSTLE. The word “sophisticated” business people hate to use and be associated with. The word hustle has a negative connotation attached to it for many people who operate a business but it is a word I love.

If you are an entrepreneur, small business owner, startup founder; you are most definitely hustling. You are not just operating passively because doing so would most certainly jeopardize your ability to be successful. You have to be aggressive/ assertive everyday while building your business. Just because opportunity is available, it doesn’t mean it will just be handed to you. Read the rest of this entry

Why Do People Believe Entrepreneurship is Easy?

Its-Easy
I am not one of those people who says you must go through extreme hardships in order to be considered an entrepreneur. And I am also not one of those people who believes that everyone should be an entrepreneur or can be an entrepreneur. Entrepreneurship is not some job with set hours and set requirements outlined for you to perform. Entrepreneurship is an ongoing process of actions that you have to continuously develop and properly structure in order to produce the most rewarding output for your efforts. Read the rest of this entry

The Entrepreneur Process Part 2: Developing Your System

business-efficiency
Last week I covered Part 1 of The Entrepreneur Process. If you have not read it, I suggest you take a look at it before proceeding forward. For those who have read it, you know that we have established that simplification is needed in order for an entrepreneur to succeed. What you want now is the information that instructs you on how to create a system to implement into your entrepreneur process.

The system is important for two reasons:
1. You stop having to constantly trade time for money
2. Your ability to make money multiplies significantly, giving you the opportunity to scale your operations

Read the rest of this entry

%d bloggers like this: