Winning Entrepreneur Characteristics
Angel investors often choose their investments according to various criteria, including the entrepreneur’s ability to successfully sell a unique product and service that has a strong potential for success. In addition, some entrepreneurs possess certain winning qualities over others that can easily attract angels to their deal...continue
The Importance of Customer Service Support for New Businesses
It is a proven fact that customers will repeatedly do business with companies that provide exceptional customer service. It is no wonder that many new businesses have resorted to focusing their attention on customer service support as a viable means to gain instant recognition and to entice prospective buyers...continue
What It Takes To Start a Business - Starting a New Business
Many people may enjoy the notion of starting their own business because of the lure of generating immediate profits for their innovative inventions and ideas. However, it takes more than just having an idea of a establishing a startup that will lead to a company’s success. There is a considerable amount of planning that needs to take place prior to the launch of a company in addition to personal and financial dedication...continue
Public Relations Campaign to Help Improve a New Business
A poor marketing strategy is one of the leading reasons why most businesses fail. It is no wonder that many new enterprises resort to establishing a strong public relations campaign in order to actively advertise and promote their businesses. Public relations are a vital necessity for a company’s success. Without it, entrepreneurs have no outlet to effectively sell their products and services...continue
Entrepreneurs Quest for New Technology - New Business
Many entrepreneurs start their new companies with the intention of commercializing creative business models and innovative ideas. In a strong sense, many of these startups are high tech and have become a platform in which new business owners can offer simple prolific solutions to existing market problems. Entrepreneurs who wish to launch such high tech startups should always be aware of any emerging technologies, so they can try to commercialize and market those ideas. One important question may remain: how do entrepreneurs find new technologies to start companies..continue
Myths For Starting A New Business - New Business Funding Myths
There exist many misconceptions regarding funding for small businesses. Some prospective business owners may believe that obtaining necessary capital for their startups is an easy and straightforward task, when, in fact, the process may be more complicated than initially anticipated. For example, many business owners may feel the need not to implement an effective marketing strategy or prepare a well-devised business plan, which can often greatly contribute to a company failure. Furthermore, there is an erroneous belief that the U.S. government can offer financial assistance to those who apply and that entrepreneurs can increase their chances of acquiring angel capital if they actively solicit the help from numerous contacts...continue
Some Facts About Women Enterpreneurs
Today, more women are breaking free from the traditional, gender-specific roles and venturing into the business world. Not only are they holding high corporate positions but they are also successful women entrepreneurs who own almost half of all businesses in the United States. The steady rise in female entrepreneurs can be due to many different reasons, most of which share the same rational as their male counterparts—passion for their ideas, the desire to become their own boss, and the need to address philanthropic causes. A recent study indicated that 1 out of every 11 adult women is an entrepreneur in the United States. Women business owners contribute to the overall employment of 18 million workers and generate anywhere from $2 to $3 trillion in U.S. economy revenues...continue
Test the Product before Bringing it to the Market - Starting A New Business
Every entrepreneur usually believes that his or her concept will be the next million dollar idea. This enthusiasm and motivation to succeed will definitely be needed throughout the early stages of a startup, especially when it comes to the different challenges of entrepreneurship. Many people are simply not aware of the difficulties associated with starting a new business, including the personal and financial sacrifices during a new company’s initial years...continue
Innovative and Cost-Effective Ways to Market a New Business
There are many distinct, inventive, and inexpensive ways that many new business owners use to promote their companies. Compared to the conventional methods of direct mail advertising, telemarketing, and the use of broadcast media, business owners are now relying upon novel approaches to market their goods. Guerilla and subliminal marketing are used by many companies as a fast and effective means to gain publicity and to sell their products and services. In addition, the use of podcasts, blogs, and social networking sites have also become popular alternatives to traditional means. Whatever the method, business owners are able to successfully establish recognition, credibility, profitability, and a wide consumer base...continue
Developing An eCommerce Business Strategy - New Business Strategies
In today’s modern world of innovation and technology, many small businesses have resorted to electronic commerce (ecommerce) as a fast and effective way to advertise their companies, conduct inventory, manage consumer inquiries, and sell their products. Since the strong emergence of the World Wide Web in the 1990s, it is no wonder that the internet has become the most prominent location consumers turn to when looking for a product or when seeking information...continue
Getting a New Business License or Permit for a New Business
Most city, state, and county laws require business owners to operate their establishments with certain licenses and permits. Many businesses often require more than one license and permit to legally operate, a process that can be expensive, time-consuming, and frustrating to deal with. Although it may seem like a tedious process, it is important a business owner abide by the law and obtain the necessary certification to operate their business. Going forth with operations without the security of legal documentation is considered illegal, and it puts the business owner at risk for permanent closure, heavy penalties and interest, personal liens, IRS troubles, lawsuits, etc., if they are found in non-compliance...continue
Market Research Tips for Startups
Market research, in the context of startups, refers to the process of systematically examining the viability of the startup idea. Market research helps in understanding the customers, competitors, and the market. It also assists the entrepreneur in creating a business plan, launching new products/services, fine tuning the existing products/services, and expanding into new markets. Thorough market research helps the entrepreneurs and the investors in assessing the risk of startup ideas. Entrepreneurs can raise a bigger investment round by researching the market and demonstrating that the startup is associated with a lesser risk. Ideally, most investors would like to fund startups only after extensive market research...continue
Tactical Mistakes of First-Time Entrepreneurs
Experienced investors constantly examine the business plan of a number of entrepreneurs in order to gain a better understanding of their business ideas and objectives. Often times, investors can notice certain tactical mistakes that many first-time entrepreneurs tend to make. These tactical mistakes often blur the message of the business pitch and, at times, even confuse prospective investors. First-time entrepreneurs, unlike serial entrepreneurs, are often naïve in their approach and thus, lack considerable business experience. Although first-time entrepreneurs put their utmost efforts in understanding the dynamics of raising money and heading companies, their lack of real world entrepreneurial experience undermines the effectiveness of their business plan presentations...continue
The emergence of Indian entrepreneurs - Entrepreneurism in India
Today, many more Indian entrepreneurs are emerging in the business world. Astonishingly enough, they are quite different from when they first appeared over twenty years ago. In the 1980s, the Indian economy was greatly bogged down by an atrocious socialistic ideology, whereby a rigid license raj and corrupt bureaucratic control was how businesses were conducted...continue
Devising a Successful Marketing Strategy - New Business Marketing Strategies
In order to create a successful company, entrepreneurs must implement a solid marketing strategy. This entails knowledge of the industry, the different products offered, and a genuine understanding of current customers. It also encompasses familiarity of any major competitors, market projections, and obtaining the necessary resources to continually yield customers to the new business...continue
Understanding The Finances Of A New Business
Obtaining startup funding for a new business often reflects an overall estimation of costs. Investors tend to look for such realistic financial projections in the entrepreneur’s business plan since it contains, among other things, an outline of exactly how their invested money will be spent. The financial plan section of the business plan should also be supported by market research, illustrating a solid return on investment. While developing the financial forecast, an entrepreneur needs to ask him/herself the following questions: Is the sales forecast plausible? Are the projected margins achievable? Are the working-capital needs being taken into account? How much are the capital expenditures? In developing the business plan for a newly-formed company, an entrepreneur needs to ensure that all financial predictions are made as realistic as possible...continue
Understanding The Business Structure
A major federal requirement for all new enterprises is the declaration of a company’s business structure. For income tax purposes, a new business needs to decide which type of organization will give their company the best liability and tax break. There are four common forms of business entities that a new entrepreneur may consider. They include sole proprietorship, partnership, corporation, and Limited Liability Company. The following tables explain the four common business structures with their unique characteristics and requirements. The entrepreneur needs to evaluate all of these possible choices, and then decide which entity best suits their new business. As a sole proprietor, the business owner plans to work and operate his/her business alone with no other hired staff...continue
Market Reserach Is Key To Developing A New Business
Often times, entrepreneurs may have a great business idea; however, many people may not be interested in the particular product or may not be willing to pay for the product(s) or service(s) offered. Small business owners simply cannot assume that their business ideas are what people want without knowing who their target audience is, the amount of money people are willing to spend for their product(s), and who their competitors are. This is the very reason why market research is important for a new business...continue
Predicting The Success Of A New Business
Estimating the success of a new business is an important venture that entrepreneurs need to undertake before they seek funding. After all, no business investor will want to fund a project that does not have evidence for potential growth. There are several common components that predict the success of a new business. Here are just a few of them: Many successful businesses have a strong management team that demonstrates commitment in the company’s objectives. Not only are they responsible for sustaining an exceptionally high level of confidence and productivity among staff members but they also work attentively to satisfy the needs of the customers. In addition to establishing effective leadership abilities towards employees and customers alike, a successful management team is one that tends to work meticulously in resolving any conflicts through effective communication with others...continue
Is Your Spouse the Perfect Business Partner?
Choosing a business partner for a new business is a huge responsibility and will have a large impact on a company’s success. Therefore, entrepreneurs need to weigh all of their options when deciding on who their business partner should be. Often times, having a business partner can be a good strategy. An entrepreneur who does not have the comprehensive knowledge and experience in starting a new business may decide to hire a business partner who has more familiarity and aptitude in the field. This alliance may be a good combination, especially if the new business partner can improve the company’s chances of success...continue
Employing For The New Business
Once the entrepreneur obtains the needed finances to start his/her new business, s/he can now begin to hire employees. Hiring employees for a new business can be quite a difficult task since it requires the same amount of time and dedication as developing the business proposal and the process of raising capital. However, before recruiting anyone into the new business, the entrepreneur needs to understand the hiring process:..continue
It Takes A Minute To Start A New Business
Got a minute? In the time that it takes for most people to drink a glass of orange juice, many of us can immediately think of at least one brilliant business idea to start a new business. The only problem is that most of us, when we have such enlightenment, do not act on this impulse immediately. An exceptional business idea can be universal. Often times, many people from around the world and from every walk of life may share similar ideas for starting a new business. Among the dozens and even hundreds of people with the same innovative business ideas, only a few will actually be proactive in their approach. They are the ones who will take the first step in bringing their thoughts and concepts to the forefront, trying extensively to make their business ideas into a reality...continue
Federal Requirements for Starting a New Business
Before the start of a new business, the entrepreneur must meet several federal requirements. This includes establishing the corporate structure of their new business, obtaining an EIN, acquiring the required permits and licenses that are necessary for daily business operations, and acknowledging the responsibility to pay different taxes. A new business owner is obliged to follow these federal regulations, and failure to comply can result in heavy penalties. The following information provides the relevant steps needed for a new business owner to properly fulfill his/her company’s federal requirements...continue
Finding the Perfect Name for a Business - New Business Names
The name of a new company can instantly reflect much about the nature and work of the business. However, choosing the name for a new business is not an easy task. It requires extensive planning and development because the process involved in changing a company’s name can be quite a time-consuming and expensive process...continue
Tips Every Internet Entrepreneur Should Know
Over the past several years, Internet businesses, or e-commerce, have become the fastest and most successful means for entrepreneurs to sell their products and services. Due to the fact that purchasing a vast array of products can be conveniently available online, many Internet entrepreneurs may struggle to obtain new customers and maintain existing customers because of growing online competition. The following information contains helpful tips for every Internet entrepreneur in driving traffic to their online store...continue
What It Takes To Become An Entrepreneur
According to a recent study conducted in 2007 by the Global Entrepreneurship Monitor (GEM), a leading international entrepreneurial research group, high income countries, such as Iceland, Hong Kong, Canada, and the United States have more early-stage entrepreneurial activity due to economic opportunity. In these high income per capita nations, new business owners have vast availability to economic resources, including job placement, and social security benefits...continue
Understanding The Etiquette Of Networking
Every entrepreneur can benefit from networking when they establish their new business. Obtaining the necessary startup capital as well as finding prospective consumers for the business highly depends upon the entrepreneurs’ networking ability. Networking goes beyond simply meeting people and exchanging business cards with them. It is the art of building associations and establishing a solid trust between both parties involved so that each can benefit from one another’s strengths. The following tips will allow the entrepreneur to understand the etiquette of meeting people and how to effectively establish contacts and exchange ideas for networking...continue
Improving a New Business Idea - New Business Idea
For every successful business idea, there are hundreds that fail. One of the reasons why most business ideas are not successful is because they were introduced to the public without the support of sufficient market research. Therefore, these business ideas did not meet a market demand. Before seeking startup capital for a new business, entrepreneurs should ensure that their business ideas are tested sufficiently before they are formally introduced to the public...continue
Preparing To Start An Entrepreneur Business
Before applying for small business funding, it is important for an entrepreneur to clarify all the details about the type of business they are starting and what their needs will be. Careful consideration about different scenarios is necessary for an aspiring mogul to start their business the right way. It is always better to be knowledgeable and well-prepared for your new venture rather than be in a situation that is unfamiliar. The first factor that an entrepreneur must consider is the product or service that they will be offering. This may sound obvious to many; however, many people tend to neglect providing others with a clear definition of what their business truly entails...continue
Intellectual Property Protection - New Business Property
It is absolutely vital that all companies, especially up-and-coming businesses, protect their intellectual property. Entrepreneurs are encouraged to have a proper understanding of the different types of intellectual property and the processes involved in protecting their assets. In fact, a company has a strong competitive advantage when they secure ownership to the exclusion of others...continue
The Non Disclosure Agreement (NDA) - Entrepreneur Resources
A non-disclosure agreement (NDA) or a confidential disclosure agreement (CDA) is a legal contract that protects entrepreneurs against the theft of their intellectual property since sensitive information may be disclosed over the course of a meeting or presentation with potential investors...continue
Raise Capital With The Help Of Grants
You have a possibly profitable idea which you strongly believe in for a small business, yet need to raise capital. There is no need to worry. You are not the only one confronted with this issue. You may have tried banks or various other lending institutions, only to find yourself turned down due to not meeting their lending guidelines...continue
Researching The New Idea - New Business Idea
The best business plans are not always the best and innovative ideas. However, they are probably the best researched ideas. For any new business to succeed, an entrepreneur needs to ensure that he or she is building a product that is satisfying the needs of the market...continue
All About Partnerships - New Business Partnerships
Most businesses form long-term relationships with customers and other businesses that yield mutually beneficial win-win results. In today’s business, several factors necessitate the need for partnerships and alliances...continue
Types Of Innovations - Business Innovations
The nature of an innovation affects how an entrepreneur should bring the innovation to market. In general, innovative technologies originate from R&D efforts. Entrepreneurs then commercialize these technologies and bring them to the market. It is important for entrepreneurs to understand the marketing challenges throughout this process...continue
Learn Startup Business Tips
Starting a business is not a simple task and you will want to ensure that you follow all of the necessary steps and complete them in the proper order. You will never want to take the cheap route in setting up a business because you may need to spend a little extra money to provide yourself with a little more protection...continue
Know Business Travel Tips
Business travel is almost inevitable at some point or another. You may have to fly to meet a new client or drive to meet a distributor. Whatever the reason that you are traveling for business, it can be more expensive for the small business owner. Owning your own small business is not a small task, but you also don’t have an expansive expense account to fall back onto...continue
How to Buy a Domain Name
You need an Internet domain name if you want your business to have an online presence. Your domain name is your website’s unique Internet address. Web browsers will locate your website using this domain name...continue
Finding Startup Capital For Your New Businesses
One of the biggest hurdles in getting a new business running is finding the startup capital necessary to have your business dreams come true. Funding opportunities abound for the inquisitive, but it is important to find the one that will work for you...continue
Effective Entrepreneur Marketing Efforts
Marketing has become one of the most important aspects for the success of any business who wants to grow and remain profitable, maintaining customers while reaching out to the potential ones. Any business must be able to evolve and innovate to be ahead of the competitors and this can be achieved through a strategic marketing plan which will define goals and the direction to reach them...continue