In this edition of Keys to Success, we will see what we can learn from entrepreneurs who looked at the conventional wisdom and walked in the other direction. A good idea is a good idea because it works most of the time. However, sometimes, you need to take time a moment to consider the context. A good idea in the wrong situation is actually a bad idea. Savvy business people know when to break the rules, when to do something a little unconventional, and how to land on their feet in the process.Read More›
Finding a city where you can build your start-up is a huge decision. Some cities are more business friendly than others, offering incentives and tax shelters. Some cities are flat-out expensive. The city is where your pool of employees will come from. You want to make sure the city has skilled people who are ready to work. The city will provide a source of inspiration and a place of recreation. Is this region oversaturated or poised for a boom in your industry? It’s hard to predict exactly what’s possible, but you should spend some time researching your options.
A successful business can grow anywhere, but according to Kiplinger, these 10 cities seem to have what it takes for startups to thrive.
The competition to get SMB loans is growing every day, and banks have enacted stricter loan regulations. When you apply, a bank will undertake a risk assessment to decide if you will receive the loan and under what conditions. Make sure you understand the 5 C’s when you fill out your loan application. It’s what the bankers are looking for, and it will strengthen your chances of receiving a business loan.
A certain level of optimism goes hand-in-hand with starting a new business. Such an endeavor requires significant dedication and planning, and a willingness to take a financial risk.
Small Business Trends brings us a story of optimistic entrepreneurs. A recent survey by the Ewing Marion Kauffman Foundation was conducted in January among 1,375 LegalZoom customers that had started businesses in the past six months.Read More›
In this edition of Keys to Success, we take a look at three very different startups: a provocative Los Angeles fashion retailer, an Icelandic gaming company and a computer forensics firm in Chicago.
Entrepreneur Goes from eBay to Payday
Sophia Amoruso is the founder of fashion retailer NastyGal. Inc.com covered her recent appearance at the South by Southwest Interactive Conference in Austin, during which Amoruso acknowledged her unlikely job title.
“I never expected to end up the CEO of what’s now a corporation,” she said. “It was my full intent as a teenager to smash capitalism and eat dumpster food. It’s been one hell of a ride.”Read More›
There are roughly 28 million small businesses in America, and more than half (52 percent) are home-based, according to Forbes. Even more impressive, entrepreneurs start 543,000 new businesses each month — although the number of businesses that close per month is greater.
That might be a sobering statistic, but there’s a silver lining. Each year, more than six million people take a chance on their small business. In fact, some of the most successful companies in America started in someone’s living room.Read More›
Small business owners looking to expand their scope might be missing the boat by not venturing beyond U.S. borders.
Just 5 percent of small businesses that have employees export their products or services, according to Dennis Chrisbaum, director of international trade finance with the Small Business Administration, in a CNN Money story. That puts the number at around 300,000. The SBA notes that almost 96 percent of consumers live outside of the U.S.Read More›
Now in its fifth season, ABC’s “Shark Tank” has helped dozens of entrepreneurs receive the capital and connections they needed to grow their SMB. The show invites entrepreneurs to pitch their company to five investors, each a successful business owner in their own fields. If one of the investors (known as Sharks) believes the company has potential, he will invest his own money in the business.
If you’re not quite ready to pitch your product on national TV, you can still take advantage of the Sharks’ business expertise. Here are six business lessons every entrepreneur can learn from “Shark Tank.”Read More›
In this edition of Keys to Success, we find entrepreneurs bringing Italian red sauce, affordable mattresses and even recycled mannequins to the marketplace.
Female Entrepreneur Builds Business with Used Mannequins
The New York Times brings us the story of Judi Henderson-Townsend of Oakland, Calif., who found herself in the rather unusual business of refurbishing and renting mannequins.
It all started when she wanted to buy a mannequin to put in her garden. She found a Craigslist ad from a man selling 50 of them.Read More›
Women looking to earn success in the business world can find inspiration in the rise of Mary Barra.
The new CEO of General Motors has been hard to miss of late. She’s made headlines for becoming the first woman to reach CEO status for a major auto maker, and for the hefty salary that comes with it. Barra, 52, was even featured in the State of the Union address, and the camera cut to her while President Barack Obama spoke about hard-working Americans.Read More›