Category Archives: Starting a Business

5 Tips to Budget as a Startup

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

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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

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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

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What 8 Years of “Entrepreneurship” Taught Me

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When people ask me how long have I been an entrepreneur, I tell them I have been an “entrepreneur” for the last 8 years. Notice I put quotation marks around entrepreneur. I will explain the reason for this later in the post.

I graduated from high school in 2007. I had been working at Wendy’s since 2005 and left there after I graduated to go work at UPS. UPS only lasted a couple of months. I just couldn’t see myself continuing down the path of being a highly praised but underpaid worker.

While at UPS I created my entertainment company. Man was that an eye-opening experience. The creation of this entertainment company was my main reason for leaving UPS. I was going to take the entertainment industry by storm. So I thought.

When I left UPS I needed another job asap. My plan was to go apply at Family Dollar. Instead my mom asked me to come work with her since she was opening a new office in downtown Atlanta.

So I was going into 2008 set and ready to make things happen, so I thought again. I had my new entertainment company and I was the “COO” of my mom’s tax business.

To cut a long story short, things started off “great” and ended terribly. My attempt at creating a studio for my entertainment company drained my pockets and my role as COO did not go as I envisioned.

The reason this occurred is because I didn’t truly understand entrepreneurship nor business ownership. Entrepreneurship is turning an idea into a product/service that has demand in the marketplace. Business ownership is taking that product/service, scaling it for growth and employing others to manage your business operations. Read the rest of this entry

Waiting for the Response….

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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 Turn Your Failing Business Around

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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

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

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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

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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?

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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

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Asher over at BizHumm reached out to me last month to share with me his company’s online business guide that they created. The comprehensive free guide is entitled, How to Start a Business, which features 15 chapters and almost 25,000 words of valuable information. And this is all for free!!! Anyone who dedicates this much time to freely educating people about the business process has to truly be enthusiastic about small business and helping small business owners succeed. (more…)

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