One of the most frequent questions I get as a mentor to entrepreneurs is “How do I find the money to start my business?” I always answer that there isn’t any magic, and contrary to the popular myth, nobody is waiting in the wings to throw money at you, just because you have a new and exciting business idea.
As a small business owner, one of your main concerns is how to retain your top employees. You’ve spent months or even years grooming your employees to fulfill their highest potential. Now you can see the risk in having them leave, right when they provide the most value for your business.
There is virtually no business in the world that doesn’t run into at least a kink or two every now and then. Running and growing a small business is not a task suited for the faint of heart. Things can and will go wrong, and it’s important to know how to handle it properly. These are five problems that new businesses commonly face, but just don’t know how to handle well.
Many firms have had success hiring relatives of employees. That said however, I believe not employing family members really is the best policy for so many reasons. Hiring family members is just wrought with difficulty.
Time is too precious to waste trying to close a deal with the wrong investors at the wrong time. Luckily, not all investors are looking for the same thing, so it pays to know what type of investors are most interested in what your startup brings to the table.
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.