~by Dixie Somers~ . Owning a restaurant can be a profitable business, but certain measures should be taken to guarantee its success. Nearly 60% of restaurants fail during their first year after opening. To avoid becoming one of these statistics, check out the following tips to learn how you can succeed in this exciting business. Choose a good location Choosing the right location for your restaurant is one of the most important decisions you will make for your business. Restaurant owners should avoid locations in poorly populated areas. It might be a good idea to choose a location near
~by Emma Sturgis~ . If you’re like many Americans, you’ve dreamed of starting up your own business. After all, America is the land of opportunity, and the entrepreneurial spirit is still very strong in this country. Thanks to new technology, it’s easier than ever to set up and run your own business, whether locally or remotely. So if you want to be your own boss, consider these three great ideas for starting your own business. 1. Event Planning If you have an eye for detail, love interacting with people face to face and want to help
~by Haley Lynn Gray~ When it comes to building a business, the #1 question I hear most often is, “How do I find clients?” There is good reason behind this, since, if you don’t have clients or customers, you don’t have a business. One thing I truly didn’t appreciate when I first started my business is just how much of a sales person I was going to have to become. I thought that if I built it, clients and customers would come. However, I was pretty far off the mark. A couple of months into the business, I came
Revenue and cash flow are one of the most important parts of running a company. Long gone are the days where you could leave these things to chance. In today’s world, you need to be able to understand exactly where your money is coming from, how often it’s going in or out, and what to do to put it to use most effectively. Here are five strategies to help you manage your business revenue and maximize cash flow. Understand the revenue cycle When your business makes a sale, it gets revenue. There is usually a pattern in this process. If
~by Haley Lynn Gray~ There is a myth out there that some businesses are an overnight success. You know, they suddenly become legends in their own time. A few I can think of are Periscope, Facebook, Google, and Apple. Yes. They are fantastically successful companies now, but they were tiny companies at one point. It took years for each of those companies to achieve anywhere near the level of success that they are at now. It took years. In fact, I am an entrepreneur with several businesses, and I will tell you that we are two years in on two
~by Haley Lynn Gray~ So you want to leave your corporate gig to start your own business, but you’re afraid to cut the ties. How do you stop thinking and start acting? Many times, when we are working for someone else, we want to do something else. That may be to make a difference, make more money, control our hours, have more flexibility or a thousand and one other reasons. The reality is there is a list of things you can do before you leave your corporate job to help your business get up and running before you get started.
~by Lizzie Weakley~ We live in an exciting world, and technological advancements have opened up opportunities for new entrepreneurs that used to seem like a dream. Whether you are prepared to start up a large industry or plan to keep your work closer to home by engaging in online marketing, the sky’s the limit. No matter what you’re planning, however, there are some tips you should be aware of to make the most of your efforts. Startup Hang-ups Humans are innovative beings, and we’re constantly coming up with creative ideas to make things more convenient. However, it takes
~by Haley Lynn Gray~ When you leave corporate and enter into the world of entrepreneurship, the first thing to become obvious is that no one tells you what to do or how to do it. You are the one expected to make all the decisions. That means you get to decide when you’re going to get up in the morning, when you go to bed at night, how many hours a day you work, how you work, which tasks you perform, and every little minuscule detail that pertains to your business. The number of decisions you have to make is,
~by Emma Sturgis~ . Ninety-six percent of all businesses fail within the first 10 years, according to Inc. While this figure may shock you, it should also make you more cautious as you prepare to launch your own business. That said, here are four things to ponder before opening your doors. Level of Expertise Be honest with yourself in determining whether you have the skills necessary to run a business. Just because you worked in an industry for 10 years doesn’t mean you can run a successful business. If you feel you need additional training, take some courses in entrepreneurship.
~by Lizzie Weakley~ . Running a family business can be as challenging as starting a business with an associate or former coworker, if not more so. There are personal feelings to consider as well as bruised egos. Plus, they’re people you love. And if you don’t have a plan in place, dissension can easily detract from results. If you’re starting a family business and looking for ways to better ensure its success, consider these helpful tips. 1. Select a Leader Whether it’s you or your older brother, designate someone as leader of your management team. This should be the person