Globally, the median amount required to start a business is $15,000, but 29% of businesses fail when the owner runs out of money. That’s because 82% of startup funding comes directly from the owners or their families. Only one out of 100 entrepreneurs will ever get venture capital to help make their businesses successful. [Tweet "Only 1 in 100 entrepreneurs will get venture … [Read more...]
Are You Looking for Cheap Business Ideas?
Are you ready to start your dream business? Many people associate starting a business with huge expenses. The great news is that if you want to start a business, you can do it very inexpensively. There are literally thousands of entrepreneurs making hundreds of thousands of dollars working from home. An equally high number have combined their home and a vehicle to provide … [Read more...]
Why (Most) Businesses Stay Small
Most businesses stay small. They fail to grow. They fade, crumble, and disappoint the entrepreneurs behind them. One thing that is common among these businesses is that they are not run by systems. It’s never too early to start thinking about systems. As soon as you begin to build a business, you have to think systems. When you run your business built on systems you will … [Read more...]
4 Misconceptions of the Entrepreneur Lifestyle
From the outside looking in, entrepreneurship seems to be a breeze. You are your own boss, you can set your own hours, and can work from anywhere. That sounds so amazing, and it is! However, there are some misconceptions. 1. You’ll Work Less Hours One of the most common phrases I hear from aspiring entrepreneurs that are currently in Corporate America is, “I can’t wait to set … [Read more...]
The Reluctant Entrepreneur
While for many, the career choice of entrepreneurship answers the call of destiny, for others there is no calling, until necessity knocks at their door. Often referred to as the ‘Necessity Entrepreneur’, (a purely descriptive term), those that find themselves on this path do so out of personal or professional circumstances that leave them no option but to work for … [Read more...]
Root Causes of Working IN Your Business, Not ON Your Business
One of the most common issues facing my solo-entrepreneur clients is frustration, often followed swiftly by fatigue. Suddenly swamped by so many roles, so many decisions, so many tasks, while trying to conserve expenditure – weariness sets in. What started as a dream business idea, to hone and drive further, has now become a 24/7 job, with no escape route. You realize you’re … [Read more...]
Paperwork Prevents Small Business Growth – 12 Tools to Recoup Time
Did you know that small business owners spend one day per week doing paperwork? In fact, according to research by YourTradeBase, more than one out of two small business owners (51%) believe that paperwork is preventing business growth. Interestingly, women business owners spend the most time on administrative paperwork (32% of women business owners spend more than 10 hours … [Read more...]
Are You Ready to Turn Your “Side Hustle” into a Business?
Side hustles are generally born out of necessity or passion. They tend to maximize our skills and capacities or release our creativity. Converting a side hustle into a business is often a slippery slope because whether your side hustle is born out of necessity or born out of passion, the realities of formalizing a business can be disheartening. A side hustle that generates … [Read more...]
5 Rookie Business Mistakes You Don’t Want to Make
As a business owner, there are some mistakes that you simply shouldn't make. Here are five rookie business mistakes that you need to avoid: 1. Bad Customer Service We have all experienced bad customer service at some point in our lives that has made us turn down a sale. Many times we walk out of a store because we are not greeted as we enter or as we shop. This is bad … [Read more...]
Sometimes You Just Have to Write that Check!
I am all for saving on costs – particularly during the heady days during the business start-up phase. In fact to be fair, this phase often drags on a bit depending on the scalability of your business. I’m really talking about smaller indigenous businesses here, such as retail businesses---maybe you’re opening a café or a hair salon, or maybe you’re offering a service such as … [Read more...]