Business models help provide a clear image of running a company’s operations and a precise structure for its strategy that is free of obstacles. A business model canvas is a diagram that depicts how a company functions. It can assist business owners and entrepreneurs map out and track their business plans. To put it simply, […]
Creating a Plan
Projecting Success: How to Approach Your Financial Plan
Drafting a financial plan can be a daunting enterprise. While your vision may be the soul of your company—the thing that drives you, that inspires you—your financial plan is more like the circulatory system: detailed, concrete, steady—it’s not exactly the stuff of dreams, but without it, your business wouldn’t stand a chance. I’m Cory Williams […]
Should You Include Your Sweat Equity in a Business Plan?
Investors love it when entrepreneurs draw little or no money from their startups. It extends the cash available for research and other necessary fixed costs and gives the fragile, young company more “runway” to get to breakeven. What are you worth to the business? But when forecasting the ultimate viability of a business, many times […]
5 Definite Things Your New Business Needs
While the process of starting a new business can be exciting, it can have its moments of being scary or stressful, as well. This can be particularly true due to the fact that many small businesses are likely to fail within their first year. The good news is, though, that that doesn’t have to happen […]
5 Shared Traits of Recession-Proof Businesses
The U.S. could be headed for a prolonged recession following the coronavirus pandemic, which has taken an economic toll worldwide. Small businesses looking to survive — and thrive — during a recession can implement best practices now to better navigate an impending new climate. Recession-proof businesses are those that meet essential needs for customers, selling […]
Where Can I Sell My Business Ideas?
I get it. What a nice dream … just sell the business idea, and let somebody else take the risk, find the money, and do the work. Except that the work, the risk, and the money is what gives the business idea value. Don’t Dream. Execute. So nowhere. The answer to your question about where […]
Starting an e-Commerce Business on a Shoestring Budget: The Ultimate Guide
These days, starting an ecommerce business doesn’t require a massive upfront investment of your life savings, nor does it mean being an expert in product sourcing, logistics or bookkeeping. In fact, starting and growing a successful ecommerce business is a lot simpler than it used to be, thanks in part to the boom of simple […]
3 Business Ideas for Foodies With Ambition
All right, who doesn’t love food? Pretty much everyone, right? But if you’re that special percentage who enjoys eating and is good at cooking or baking, you may be thinking to yourself, “Self, why don’t I start a business?” Of course, there’s a lot that goes into breaking into the industry, so it’s wise to do […]
What Should Entrepreneurs Know Before Starting Their First Business?
Starting your own business can be one of the most fulfilling adventures in life. Not only is it an opportunity to pursue whatever you’re passionate about, but you can create your own work schedule, gain unique experience, and if all goes well, earn yourself a small fortune. Unfortunately, the hard truth for the vast majority […]
Should You Start a Business? Test Your Idea First
As I write this, during the worst pandemic in 100 years, in the grips of a severe economic slowdown — let’s all hope it’s just recession, not depression — people still want to start new businesses. We still come up with new business ideas. Some ideas come from the new problems we are experiencing, some are long-standing good […]
