Correcting Three Myths About Funding your Business
When starting a business there are many funding options to research. However, you may be surprised to find out that most funding options don’t open up to small business owners until you’ve been in business for 2 years or more. Self-funding much of your start-up costs is inevitable, so it’s best to research bootstrapping options now.
How to Keep Business Start-up Costs Low
Here’s a secret. The most successful businesses I know spend the least amount of money, especially in their first years. This concept of “you have to spend money to make money” is false. If you control spending early on you’ll become profitable faster. You won’t have to beg for business to cover your expenses and you’ll buy yourself more options down the line to put the right people and services in place to maximize your business when the time is right. Plus, your personal finances will improve too.
Avoid This Common Business Planning Mistake
Here’s a common scenario I see in business planning: Before you’ve completed any real market research to validate if your idea would work, you’re thinking about color schemes and names, what your website and logo will look like or where the business will be located. This is a big mistake because it means you’ll likely spend money and time on an idea that might not work. This is how you prevent it.
How To Verify Whether Your Business Can Succeed
Businesses fail because new business owners don’t plan much beyond the first year and they don’t do the right research before they start. Does your business idea make sense to anyone but you? Hopefully! But how do you know? You’re going to have to talk to people. Here’s how to validate your business idea.
How To Tell If Your Business Idea is Right For You
I hear this a lot: “I’d like to start a business one day, but I’m just not sure where to start – I don’t even have an idea.” If that’s you, here’s a quick thought exercise that may help when you’re just starting to brainstorm and define business ideas.
How to Deter the Most Worrisome Financial Cyber Threats
It’s always been important to protect personally identifiable information and access to your financial accounts/information online. But with so many recent hacks in the news right now it’s more important than ever. I sat down with some experts at the FBI and SEC and provide the top 5 ways you can protect yourself from hacks in this article.
