Posts Tagged ‘Startup’
4 Building Blocks to a Successful Restaurant Startup
The restaurant business is fiercely competitive and without the proper course of action, your new restaurant could easily become just be another statistic. Some people have a rather naive idea of the restaurant business and still have a “build it and they’ll come” mentality. But times have changed and restaurants that succeed these days have…
Read MoreStarting from Scratch: 8 Steps to Getting Your Business Off the Ground
Starting a new business from scratch can be thrilling and rewarding. It may even be the culmination of a life-long dream. But it can also be a major challenge. Suddenly, you have to know more and do more than you ever thought possible. To make the process just a little easier, here are 8 steps…
Read More8 Keys to Successfully Bootstrapping Your New Venture
If you really want to start a business your way without a boss or professional investor hovering over you, then just fund it yourself or through friends and family, and grow it organically. It’s more possible to bootstrap today than a few years ago, as the cost of entry continues to go down. According to Investopedia,…
Read MoreThe 3 Phases of a Tech Startup
Most tech startups go through three phases: 3Fs, Seed and VC/Scale. Understanding these stages, and the objectives for each, is an important factor in strategy development and decision making. Not understanding the stage you’re currently in is one of the most common reason tech startups fail to move forward, or worse, fail. The Three Phases:…
Read MorePervasive Startup Myth: Don’t Work for Free
Startup myth: The one about founders having to work for free to impress angel investors. This supposedly shows passion. Don’t believe it. Investors want people committed to working their startups, and that usually takes getting them paid. I’ve been getting a lot of upvotes on my answer to this question in Quora: How do entrepreneurs…
Read MoreStartup Dilemma: Do It Yourself or Hire a Professional?
Startup budgets, especially in the early stages, are almost by definition extremely limited. A typical startup is usually just a handful of motivated people with a great idea and a vision of making it big. Not having the resources to hire people left and right means that multitasking has become an integral part of startup…
Read More10 Reliable Ways to Finance a Startup
The ability to secure funds for a startup is the first step in turning your business dream into a reality. Unfortunately, this is often easier said than done especially when you have little or no collateral/security at hand. It’s not a completely hopeless situation, however, as there are a number of avenues to explore, but…
Read MoreDetermining a Pricing Strategy for Your Startup
One of the most often overlooked tasks of any startup is developing a viable and effective pricing strategy. Whether your business provides products or services, the price you charge for those can make or break your bottom line. There are a number of considerations you should take into account when determining a pricing strategy for…
Read More10 Common Mistakes with Startup Financial Projections
I was glad to be asked about common mistakes with financial projections. I read about 100 business plans a year for angel investment and business plan competitions. Most show unrealistic profitability. More people doing business plans should realize that most startups are unprofitable at the beginning; and that high growth correlates with losses, not profits.…
Read MoreRaising Your Total Startup Capital in 5 Steps
You’ve got the next billion-dollar idea and you are looking to make the big jump into the “fairytale” journey of an entrepreneur. You have read all the startup books and know everything about the great founders that became successful overnight. The startup journey is similar to a survivor’s journey, and the last person standing is…
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