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Mentors
Why muddle though it alone? Having someone experienced and knowledgeable to call upon when needed is a definite advantage. Ideally, you’d have several mentors, each with different expertise to guide...
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The Business Plan
Why write a business plan? You could start your business without a formal business plan, and many entrepreneurs are successful without one. A business plan however, is recommended for various reasons,...
View ArticleStartup Strategies
Planning is important when starting a new venture. For example, writing a business plan will help you organize your thoughts and present your ideas to potential partners or investors. However, there is...
View ArticleAcquiring Startup Resources
Two of the most important questions can ask when you start a new venture are: What resources do I need? How will I acquire them? Resources include cash, equipment personnel and anything else required...
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Startup Financing – Bootstrapping
The vast majority of companies get started on a tight budget. There have certainly been many startups funded by big-money that have rocketed to success, and these are the startups that get the media...
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Sources of Financing
Most ventures start off on a low budget – with little or no external financing. Nevertheless, starting a business might require financial resources beyond your means, or beyond what you’re willing to...
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Choosing a Business’s Legal Structure
When starting a new venture, one of the first things you’ll have to consider is the legal structure of your business. There are many forms of business organization, such as partnerships, corporations,...
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Buying a Business
Buying an existing business can be an excellent alternative to starting a new one from scratch. There are advantages to this approach. Clearly, you’ll first need to have the capital (or access to the...
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Franchise Pros & Cons
Starting a business doesn’t necessarily mean you have to build a brand from scratch. Franchising can provide a shortcut, but it always comes at a cost, as we’ll see. Buying a franchise means you’re...
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Opening Shop
Before opening the doors, some planning in certain areas will help you run a smooth operation. There’ll be many unforeseen events that will make you change your systems and processes as you go along...
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