The biggest error in planning may not be spreadsheet calculation error. Or cost estimation. It is most often missed assumptions about the market, the competition, the speed of adoption, or other critical metrics you've researched, or selected, or even just guessed at to create your plan.
As is usually the case when having a "what is the best" discussion, the honest answer is, "it depends."
Entrepreneurs are typically the vanguard of change. They develop innovative products and services, create new ways of getting things done, and lead the post-industrial...
In the startup world there exists the myth of the "perfect idea." Many entrepreneurs become so caught up in pursuit of this mythical event that they never take any action on the seemingly mundane or unoriginal ideas that they do have.
Have you ever launched a new service or offer only to be met with crickets? It's discouraging to put your heart into something only to have it flop.
When you're solving your own problem or one that you feel is the pain point of a certain target audience, how do you know whether there is a large enough pool of people that face the same problems or challenges that you are trying to solve?
Restaurant businesses are attractive for the plain fact that people will always need food. It's one of humanity's basic necessities and so demand rarely...
Do you know how many people out there might be interested in your product or service? Any investor or lender is going to ask how big your market is as one of their first questions, and the answer is an important factor in a business’s long-term success.
Whether it's your next big business or a unique marketing campaign, when that next ambitious idea hits, ask yourself these five questions—and if the answer is yes to all five, well, roll up your sleeves and make it happen!
Familial familiarity is a huge part of why lots of family businesses enjoy success. If you want to get in on this action, check out the following tips on building an ideal family-owned small business.