How You Start a Business - Your Business Plan

Before you start your business, set up a realistic business plan. What is your business? Know the main goal, whether you’re aiming for the luxury market or cheap mass market. Know your objectives and strategies. How will the business be structured? Where will you get funding? What is your market? Who are you competing against, and what does the competition charge for similar products or services? What are your financial forecasts? Don’t put on the rose colored glasses with these projections or you’ll doom the business from the start. A business plan that covers all these details will help you get a loan, because you’ve demonstrated that you’ve thought things through.








The Impact of the Trump Tax Plan on Small Businesses

The Trump tax plan’s proposals to double personal deductions and eliminate deductions like the state income tax deduction and mortgage interest have received the most attention. However, the Trump tax plan will impact small businesses in a number of ways. Tax Rates The most obvious benefit is the reduction in the corporate tax rate being […]

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How Online Entrepreneurs Can Stay Motivated

Online entrepreneurs face the challenges of their brick and mortar rivals and employed competition. They often wind down into nothing because they are burned out from working long hours for seemingly nothing. Others become demotivated because they feel disconnected from their dreams or don’t see how the new high tech grind replaces the old one. […]

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How to Cultivate Ideas that Work

You can’t predict the success of a business idea with absolute certainty. Not even the experts can predict what business ideas go viral and which barely get by. Then how do you decide which business idea to turn into a reality and which to leave on the drawing board? James Altucher, an author and entrepreneur, […]

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Three Signs You Do Not Know Your Core Business

Management guru Peter Drucker says that businesses must focus on their core business or “core competency” in order to succeed. Your core competency is the product or service your company aims to deliver. If you don’t know your core competency, your core business, you are doomed to fail. Faking it and hoping you make it […]

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How You Start a Business – Financing

The worst economic downturn since World War 2 has led to many layoffs, and many Brits are thinking of starting their own businesses instead of searching for a new job. Striking out on your own seems risky, but if you have a severance package or savings and no other time commitments, this can be the […]

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An Introduction to Idea Labs

Idea labs are business incubators that provide resources, mentorship and training to members. The oldest technology incubator in the US is Idealab in Pasadena, California. There are idea labs in the UK like Idea Lab Edinburgh, the UK Trade and Investment Idea Labs in London and the Shed and Manchester Metropolitan University. Why do idea […]

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Is Your Story a News Story?

  Journalists write hundreds of story ideas a week, and that’s on top of the stories they are assigned by management. If you want coverage for your small business, you need to write a compelling pitch to cause the journalist to write the story about you. But what do you need to do in order […]

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Can You Turn Your Hobby Into a New Business?

If you have a hobby or side interest, it often seems logical to try to turn it into an income source. In fact, Barclays Business says that one in six small businesses was founded by people turning a hobby into a business idea. Turning a hobby into a business has its appeal. After all, you […]

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The Grey Entrepreneurial Wave

The Gray Wave refers to the aging of the West, with the number of senior citizens rising in actual numbers and as a percentage of the population. This doesn’t mean they are all retiring. There is actually a wave of people over the age of 50 starting their own businesses. The grey entrepreneurial wave is […]

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The Questions You Need to Ask to Test Your Business Idea

Matt Watkinson, author of the book “The Ten Principles Behind Great Customer Experiences”, offers advice for small businesses and startups. His advice is intended to help businesses focus on what is important – what the customer really wants. In order to do that, he recommends asking several questions to stress test your business ideas against […]

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