Many businesses are often looking at ways to make themselves more self-sufficient. Below are four ways that you can implement into your own business to increase your sufficiency and boost your overall production. (more…)
When starting a business, you need a unique logo in order to stand out and create a recognizable brand. For entrepreneurs, choosing a logo is one of the first big decisions they make. But with little capital and little design experience, entrepreneurs find themselves lost between a world of custom (expensive) professional logos and ready-made logos. Neither option is good for entrepreneurs, so they often choose to design their own or buy a ready-made design. Both of these options produce generic logos, and can even harm your business. (more…)
Being a successful business owner takes a lot of hard work, and a little bit of luck. In honor of St. Patrick’s Day, we wanted to find out in what ways our small business owners have gotten lucky with their ventures.
Here’s what they had to say…
1. “It sounds weird to say it, but a family illness was actually the spark of luck that gave me the drive (and the excuse) to start my business. I have family in East Africa, and when one of them became very ill I ended up visiting them and staying there for a few months. I had time to pursue my dream of starting my own company, and it quickly took off. Luckily my family member got better too!” –Max Robinson, Mahlatini Safari (more…)
The most common way for people to build up wealth over time is building a business of their own. When you work for someone else, much of your productivity goes toward making them wealthy. It’s commonly thought that starting a business is a difficult process, but in the day of e-marketing, this might not be the case. A physical store is not necessary. Massive startup costs are even optional. Here are a few tips to get a business built up from scratch. (more…)
When you’re dreaming about starting a business, one of the biggest hurdles to making that dream a reality is finding affordable financing. Fortunately, there are more business funding options than ever that can fit almost every budget and business plan.
Most business funding methods can be lumped into two categories: debt financing (borrowing capital) or equity financing (reinvesting assets you already own). To help you begin to narrow down your search for the best way to launch your new business, we’ve outlined the most common types of debt and equity financing, as well as the pros and cons of each. (more…)
The internet is the most revolutionary tool that business owners have ever been given access to. In 2012, worldwide e-commerce sales hit $1.06 trillion. Forecasts for 2018 are already predicting more than a 50 percent increase in these numbers
However, with so many great companies vying for visibility on the net, it’s unsurprising that innovation equates success online. Due to this, one of the most effective tools has been employing the use of a blog. (more…)
For many Americans, the freedom associated with running their own business or working independently as a consultant or freelancer can be very appealing. But with that freedom and independence also comes a lot of responsibility, and not just the day-to-day operations and accounting processes necessary to keep the business afloat. There are also things like health insurance to consider. (more…)
If you’re in the process of applying for a small business loan, something called “the SBSS score” has probably popped up in literature about credit screenings. So what is it?
The FICO SBSS score (Small Business Scoring Service), simply put, is a credit score that, in addition to your personal FICO score, determines the risk of U.S. small business credit applicants. While the scoring system has been around since 1993, it only recently gained popularity when the Small Business Administration (SBA) started requiring it for their 7(a) loan application pre-screening. How does it work? Let’s look in depth. (more…)
As a small business owner, you’ve grown used to learning as you go. You had to learn how to manage your accounting, how to address licensing and permitting issues for your industry, how to market your business. The same is true when applying for your first small business loan—a process riddled with unexpected requirements and fine print that will bring an entirely new set of lessons to be learned.
Before accepting your first small business loan, get ahead of the learning curve by asking these six important questions. (more…)