Did you know that most entrepreneurs will settle on the first couple of interviewees who express genuine interest in the company and job because they want to get the business off the ground? If you don’t want to fall into this commonly made mistake, you must remember five things when looking at people to hire for your new business: 1.Look For Qualified Employees It’s imperative that you hire people who have the knowledge and skills that your business needs. Many times entrepreneur..
Insurance… you have it for your home (homeowners or renters), your automobile, medical, life and more. When you own a business, it’s also imperative to have business insurance. Why? Business insurance can protect you in the case of a minor or catastrophic loss. And, when it comes to your livelihood, it’s a real necessity. What Is Business Insurance? Business insurance will protect your investment – which is what your company is – to ensure you don’t suffer a catastrophic financ..
One of the biggest things entrepreneurs have to contend with is inventory management… even if they have hired someone to do it for them. It’s so important to your business that you have proper inventory management, because without it, you could be alienating current and potential customers with the lack of your product. What Exactly Is Inventory Management This is the proficient supervision of product into and out of a business’s inventory. It allows the owner to know how much or how..
How many times have you heard this phrase: location, location, location? Well, when it comes to the success of a business or its failure, location is everything. You want to situate your business in the best location possible – and that’s a location that sees plenty of foot action. Of course, you can choose to offer a home office to reduce your overheads and provide you with profits. Here’s what you need to understand: it’s all about what you are offering the public, what public y..
Most entrepreneurs feel they are great negotiators. The reality is that a good chunk of them are not the master negotiators they think they are. However, it doesn’t really matter how good or bad your skills are, as you can always improve your negotiating skills. 10 Tips To Ensure You Become A Master Negotiator 1.Preparation Is Key Preparation is key when it comes to negotiation. Before you do any kind of negotiation, you need to know what you’re looking for from it. Learn what it is t..
Crowdfunding… you might be wondering what this is and how it works in relation to your business and its funding. Here’s what you need to understand: crowdsourcing isn’t that old of a term and was made legal thanks to the JOBS Act in March 2012. Before the JOBS Ac, it was seen as very impractical or illegal. What Is Crowdfunding? In simple terms, it allows big groups of folks – people you know and strangers too – to give minute amounts of money to a business or cause. It’s the n..
Once you’ve gotten investors’ attention, you’ve got to secure a business loan to get the doors open. Industrial and commercial lending has increased for bigger companies. However, small businesses have seen fluctuations in the amount of conventional bank loans being offered, all because of the uncertainty in the economy. That does not mean you should not try to get a business loan. After all, banks do want to loan the money to start-up companies. But, in order to secure a loan, you ..
When you’re trying to get your business going from the ground up, the hardest thing to do is bring investors to the table. What can you do to get investors to listen to your ideas about your small business? The first thing you must understand is that you need patience so that you can develop solid investor leads. With a little bit of groundwork, some advanced planning, the right approach and accurate investigations, you can find an investor to successfully finance and launch your busine..
The majority of entrepreneurs know that getting cash from the people they know is easier and quicker than trying to get it from an investor. Also, many investors demand that you have some kind of family/friend investment before they’ll even bother lending you any money. The reason is that investors invest money in people before they invest in any product or ideas. Since they have no idea who you are, they check out your integrity as a person. Do your family and friends believe in you en..