Business ideas don’t go anywhere without an entrepreneur driving them. With very few exceptions, people with bright ideas never make any revenues, develop any products or became captains of any industries. The reason is they weren’t entrepreneurs. They were just people with a solid idea. It’s not the idea, it’s the execution of the concept that means almost everything.
There are two broad categories of funding you can use to start up your company. These categories are not distinguished by who you’re borrowing from but by the requirements, limitations and types of returns that regulate the type of investment. It boils down to what you’re giving away to receive the money.
There are a lot of sources out there that will tell you how to start a franchise and eventually how to run one. So, how do you start your search? Too much information almost makes decision-making worse. Here we’ve outlined some resources for those looking to open a new franchise.
There’s some good news for small business owners who are looking for financing to expand their businesses: Banks of all sizes are approving more small business loans, according to the latest Biz2Credit Small Business Lending Index. Small bank approval rates for small business loan requests increased to 50.3 percent in February, up from 49.9 percent in January and 47.6 percent in February 2012. Clearly, though, the big news is with big banks.
Whether you’re interested in starting a new business or your business has been around for years, creating an online presence and building a website is critical to your success. The idea of getting online might sound daunting, but the process is easy and starts with one thing: a domain name.
Determining your startup costs can be complex. There are many variables to think about and in some cases, the best you can do is to make educated guesses. But the more accurate you can be in estimating your costs, the more likely you are to fund your startup appropriately, and therefore be poised for success.
If you want to be taken seriously as a business person and establish your business in its industry, you need to understand the benefits of using a branded email address. Your email address might be the first (or only) thing customers see when dealing with your business.
No matter your company’s size or industry, it’s essential to have a strong website. If you’ve got a product or service to provide, you want people to know about it. A strong Web presence helps ensure that your customers can find you, recognize you, respect you, know what you have to offer, and give you their business.
You may not be able to juggle all the responsibilities of a new business single-handedly. Although right now you may not be able to afford to hire full-time employees, you can still assemble a “crack” team of passionate friends, family members, outside contractors and interns who would be willing to accept equity or experience as compensation. Here’s a mini-guide on what to consider when hiring family, contractors and interns.
Entrepreneurs need to have both leadership and management skill sets. Each skill contributes in unique and different ways to the success of the organization. Although there is some overlap between the two, the important thing is to understand the difference and the need for both.