If you’ve been thinking about pursuing your very own startup business, there are a few considerations that you’ll want to keep top of mind. Although these components are not the most exciting aspects of planning a startup, they are essential to ensure the future success and sustainability of your business.
Unfortunately, the death knell for many wide-eyed entrepreneurs is that they consider themselves inventors. More specifically, they confuse being inventive with being innovative. And when they do, they run out of cash, time and customers. In other words, they run out of business.
If I had discovered these top three lessons when I first began as an entrepreneur, perhaps I would have been able to indulge in more than deli sandwiches earlier on in my career. If you’re a first time entrepreneur, taking these tips to heart can really influence your progress…
Which city do the most web-savvy small businesses call home? With the Radius database as officiator, we compared the small businesses in all major U.S. cities based on a number of web savvy behaviors, including social media activity, website presence, daily deal offerings, and more.
When you’ve taken the time and effort to develop a unique product or service, you will want to protect your intellectual property so that other companies are not able to make money off of your ideas. There are a variety of forms of protection for intellectual property that you can get in the United States, and it’s important for you to know the differences between them and what you need to do to apply for these protections for your business.
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.
The difference between an ordinary business plan and a strategic business plan is a SWOT Analysis. This breaks down the Strengths, Weaknesses, Opportunities, and Threats for your business, and shows that you have fully researched your idea.
Is your business really a business? It might sound like a silly question, but it’s an important one, especially around tax time. There are guidelines to help you determine whether your activities are considered a business or a hobby under the law.
The part of your business plan that investors will be most interested in is the executive summary—the one-to-two page summary of your overall business plan. A strong executive summary will grab an investor’s attention and get him or her interested in learning more about your business.
A well designed business plan is an important tool for a business, helping in the search for investors and lenders and in every management. Each company will have a different business plan, but there are a few common core elements that will make any plan more effective.
Small Biz Club is the premier destination for small business owners and entrepreneurs. To succeed in business, you have to constantly learn about new things, evaluate what you’re doing, and look for ways to improve—that’s what we’re here to help you do.