Posts Tagged ‘Getting Started’
4 Strategies for Lowering Product Development Cost in a Startup
For a big company, lowering product development cost makes little sense. A big company has scale, and that means even small improvements in the product more than offset their cost. However, for a startup, product development cost is paramount. Startups have only so much cash and no revenue. Worse, most startups do not raise anything…
Read More7 Keys to Selecting a Startup Idea That Works for You
A common request I hear from aspiring entrepreneurs is for an assessment of their latest idea. I don’t even try to assess things at the idea level, since I can’t read minds. I can assess execution plans, if you have any. Yet I believe that business success is more a function of the person than…
Read MoreHow Dropshipping Can Help Your Business Succeed
Dropshipping is a method of fulfilling orders where the retailer doesn’t have the actual products in inventory but relies on manufacturers or wholesalers to ship the products to customers instead. This strategy has several advantages to online merchants, making it an attractive income-generating arrangement relevant to the modern age. Dropshipping has become a popular path…
Read MoreHow to Test the Waters of Your Business
Diving into a new business venture is a daunting task. There are so many variables that, even though you have a great plan or amazing skills, there is still the chance that your business could fail. With all the hard work, effort and money that needs to go into starting a business, testing the waters…
Read MoreWhat Franchise Can I Afford?
When choosing a franchise to buy, budget is an obvious factor. With many first-time franchisees wondering where to start, the franchise attorneys at Soden & Steinberger, APLC can offer brief and helpful insight to allow you to take the next step toward becoming a franchise owner. Starter Franchises If you have a budget of less than…
Read More5 Criteria for Splitting Equity in Your New Venture
I always tell entrepreneurs that two heads are better than one, so the first task in many startups is finding a co-founder or two. You need to find the skills or experience you don’t have in business, technology, or money. So the first question I usually get is what percent of the company or equity…
Read More5 Simple Steps for Finding the Right Business Idea
When I was first considering to become an entrepreneur some six years ago, I had lots of different business ideas. However, none of them just felt right and I wasn’t sure if they were good enough to warrant me making the leap. And I’m not alone. Most of the would-be entrepreneurs that I meet have…
Read MoreFranchising with a Business Partner
Franchising is a considerable endeavor that comes with its fair share of obstacles and rewards. The question is: Would you rather go it alone or with someone you trust? A business partnership is defined as two or more people who start or expand a business (or franchise) together. It can mean splitting everything 50-50 or…
Read More7 Questions to Ask Yourself When Choosing a Franchise to Buy
You’ve decided you want to buy a franchise, consulted a franchise attorney, and confirmed you have the means to move forward. Now comes the fun part: deciding on a franchise. From retail stores and restaurants to professional services and home-based businesses, the landscape of opportunity is vast and open for you to explore. As you…
Read MoreGrowing a Services Business Requires Selling Yourself
The critical success factors for a product business are well known, starting with selling every unit with a gross margin of 50 percent or more, building a patent and other intellectual property, and continuous product improvement. If your forte is a service, like consulting or web site design, it’s harder to find guidance on what…
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