How to Start a Brand New Business Without ANY Money
Start-up costs of a new business can be EXTRAORIDINARY...but they don't have to be. Follow the simple tips provided by this article to get your business up and running and making money even if you have nothing to invest other than passion and a strong desire to succeed.
Industries That Porter Would Recommend
Michael Porter has provided a fundamental framework to evaluate and analyze opportunities to generate a profit within a given industry. Using Porters own 5, we evaluate industries that have the highest criteria for each of Porters 5 forces and review how you can use Porters 5 to identify opportunities to start a business.
Characteristics of a Perfect Business
How do you build the perfect business? What strategies do you need? This article explains the critical factors and strategies you need to have in order to build your successful business.Business used to be seen as the necessary evil to generate a profit, however today’s businesses and entrepreneurs are approaching business as a new means to do social good while generating profits.
Top Ten Tips for New Entrepreneurs - Part Two
Here are ten practical tips to help new entrepreneurs get off to a good start in business. This is realistic advice that works without quelling the fledgling entrepreneur's natural enthusiasm. From cash flow to mentors, this guide is an essential for the beginner.
Do You Need an MBA to Start A Business?
Entrepreneurs come from a vast array of different backgrounds. Many have doctoral degrees, some just high school degrees, and some have MBA’s. Many want to be entrepreneurs see getting an MBA a means to learning how to launch there own business, but there are many gaps between what you’ll learn in business school and what you’ll need to know to be a successful entrepreneur.
Factors Influencing Promotional Mix
A small enterprise owner who intends to embark on business promotion must know what components of the same will be most effective in helping him/her achieve the desired agenda. It is quite challenging to know what proportions of advertising, sales promotion, or indeed personal selling will combine perfectly for success. The said combination is what is referred to as the promotional mix. What factors must be assessed so as to get this mix right?
Key Questions You Should Ask Yourself Before Starting A Business
Releasing yourself from the boss who doesn't seem to get you and the opportunity to be the master of your own destiny are some of the attractive aspects of starting a business of your own. But, as appealing as it seems, not every personality type is a good fit for self-employment.
How Not to Charge Your Customers
Firms like Facebook and Twitter are rigorously scrutinized in the media for not charging their users access to these platforms. Many critics argue that since both social platforms have millions of users, they should be able to charge a few dollars for every user and generate hundreds of millions in revenue. We’ll analyze what would happen if they did charge their customers and what you can learn from how to properly charge your customers if you provide free services.
When Passion Isn't Enough
There’s no question passion is a requirement for any entrepreneur, but we also know that passion alone is not enough to create a successful business. This article discusses how passion can be both your saving grace and your troubling companion as one entrepreneur shares her story of the challenges.
Profits vs. Passion
Passion is the primary ingredient for any entrepreneur to succeed, but focusing on passion alone will not guarantee success. Avoiding the blindness that can be associated with a strong passion and identifying profitable opportunities can help align your passions with the right business opportunities that provide you with greater probability for success.
The Success of Unplanned Entrepreneurs
Some entrepreneurs plan, plan, and plan until they have a business plan that can raise venture capital and validate many assumptions about their business. Many other entrepreneurs forego detailed planning and move forward on a hunch and instinct that they can offer something better to the market. Many of these 'unplanned' entrepreneurs have created some of the most successful firms within their respective markets.
Checklist for Starting a Small Business - Part 1
In the rush to start a small business entrepreneurs do make some personal or business errors of oversight. Some of these errors/oversights may remain undiscovered during the early stages of the business but when wanting situations crop up the business owner may be caught flatfooted.
Dividing Equity Stake
There are a lot things that happen in the middle from forming your corporation to being bought out and one of the most sensitive and often times most frustrating experiences occur at the very beginning when it comes down to deciding what the equity division will be among founders.
Planning in Business Management
Planning in business management is ideally no more different than what is done for other aspects in life. As a business owner you need to know what you have to achieve in the present and what you want for the business in the future. More than that, you have to know when, how, and who will do what you have in mind.