You’ve found your idea, worked out the finances, discovered your competitive advantage, decided on a funding method, and now its time to get to work on actually making your vision a reality. The next step is to decide on a business structure. There are many routes you could go and no real one size fitsContinue reading “Starting a Successful Business You Love- Structure”
A successful business takes a lot of time. As the old adage goes “time is money”, and you will likely need a lot of both if you want to see your business take off. Funding is an important aspect of any startup, but not all funding is created equal. You have many options for howContinue reading “Starting a Successful Business You Love – Getting Funding”
What’s your favorite sports team? How’s their offence? What about defense? Who’s their star player? What do they need to work on for the upcoming season? I’m not well traveled I’ll admit, so I don’t know about the rest of the world, but in the US about 90% of people can answer all those questions.Continue reading “Running a Business You Love – SWOT and PEST”
Why Are They Doing So Much Better Than I am? You may find yourself asking this question if you approach business with a “build it and they will come” attitude. You can set up a business with the same products, same prices, on the same street as your competitor and have vastly different results. ThisContinue reading “Starting a Business You Love- Competitive Advantage”
Its common sense to think that if you made a net income that you would have a positive cash flow as well. Unfortunately, that’s not always the case in business. You have accounts payable, accounts receivable, depreciation, WIP accounts and so on. Your finances can get really complicated pretty quickly, so if you don’t haveContinue reading “Run a Business You Love – Understanding Cash Flow”
To succeed financially, you need to know where your money is going and what you are getting in return.
At this point you’ve found an idea you’re passionate about and want to monetize and you know you can connect with your audience. You’ve questioned it to iron out the details to find out if it can survive as a business.
67% of small businesses fail within the first 10 years according to the Small Business Administration. That is a frightening statistic if you are considering opening or have just opened a small business. Buy why do more than 2 out of every 3 businesses find themselves failing? There are a number of reasons businesses fail,Continue reading “Reasons Businesses Fail and What to Do about Them”
Starting a dropshipping business can seem like an easy way to make money while you sleep and become wealthy beyond your wildest dreams. That’s what a lot of online advertisers want you to think anyway. In truth, if they were multi-millionaires from dropshipping they wouldn’t be spending thousands on adds trying to get you to do it. That would just further stretch the market share and increase their competition.
If you’ve ever had to wake up early and go to work all week, only to see that after paying bills you have about 20 bucks left for the week, I would be willing to wager that you’ve wondered if its even worth it. You may have also wondered about what it would be likeContinue reading “How to Start a Business”