Category Entrepeneur Articles

Nov 25 2015

How Listening to Your Gut Can Make You a Better Founder

Join us at Entrepreneur magazine’s Growth Conference, Dec. 15 in Long Beach, Calif. for a day of fresh ideas, business mentoring and networking. Register here for exclusive pricing, available only for a limited time.

Being a founder of a company is a tricky career path. Unlike the typical corporate-ladder structure, there is no roadmap telling you how to run a company. But as the founder of Leadnomics, digital-marketing agency, I have learned that when the path is unknown, it is important to listen to your instincts.

Follow this checklist to use your gut and become a better founder:

Related: Know When to Trust Your Gut

Burn your security blankets.

 

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Nov 24 2015

3 Steps to Realistic Sales Goals

Q: How do I set realistic sales goals for my employees?

A: John Doerr, co-president of Rain Group, a sales training and consulting firm in Framingham, Mass., offers this approach.

  1. Determine your company’s goals. “The toughest thing for entrepreneurs to ask is, ‘All right, if I get to this level, will I be happy?’ The first step is to figure out where you are and what you want.”

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Nov 23 2015

Twelve Ways to Boost Your Return on Employee Benefits

A few months ago, I discussed how to communicate your total rewards package to your employees to ensure they were aware of all of the great benefits offered by the company. If you aren’t familiar with total rewards packages, you may want to start there. This post will delve deeper into the methods you can use to boost your return on your total rewards package—the collective elements of compensation, benefits, work-life balance, performance and recognition, and development and career opportunities.

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Nov 20 2015

7 Ways to Have a Pleasant Conversation With a Negative Person

You know them. Maybe you work with them, live with them, or hang out with them. They complain, they vent, they criticize, they blame. These people always seem to look at the world cynically. Are you’re tired of dealing with them

Unfortunately, dealing with negative people is part of our daily lives we must learn to cope with. It behooves you to be polite, yet firm, when dealing with negativity to keep the conversation and the relationship alive. Here are seven ways to deal with a negative thinker and get the topic back on track.

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Nov 19 2015

5 Traits That Distinguish Serial Entrepreneurs

Entrepreneurs are a rarity. Just over 1-in-10 adults within the U.S.. engage in entrepreneurial activities.

That low number is not a surprise in light of the complex array of challenges that entrepreneurs face. According to a joint study last year by the University of Michigan and Stanford University, more than 70 percent of entrepreneurs who launch a failed venture do not try again. The vast majority of entrepreneurs researched adopted a “one-and-done” mentality in the face of failure.

However, the same study identified an elite subset of entrepreneurs — serial entrepreneurs — comprising 29 percent of those researched who went on to launch other ventures with great success.

Marc Preston is just such an entrepreneur.

He’s had dozens of money-making ventures over the past two decades and seven stand-alone companies ranging from web design, mobile apps, hardware and software development to retail storefronts.

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Nov 19 2015

‘Accidental Entrepreneurs’ — When a Personal Mission Morphs into a Big Business

Some of the most successful and inspirational entrepreneurs never set out with the goal of running a large company or employing scores of people. Many are simply men and women motivated to develop solutions to a problem they’re facing.

Related: Need a Business Idea? Here are 55

Then they discover that they’re not the only ones with that need — and, lo, a successful business is born.

Sometimes dubbed “accidental entrepreneurs,” these business owners have other names, as well. The Ewing Marion Kauffman Foundation, for instance, calls them “user entrepreneurs” in its research, which has found that this group has launched more than 46 percent of startups lasting five or more years — even though they’re responsible for just 10.7 percent of U.S. startups overall.

That’s an impressive success rate.

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Nov 16 2015

The Most Important 20 Minutes of the Day

What are the most important moments of the day? The 20 minutes you commit to planning.

You’re thinking, Planning? Yuck.

I know for some people it’s a dreaded word, but don’t worry. I’m not talking about writing a business plan or setting annual goals. I’m simply talking about dedicating 20 minutes to prioritizing and organizing your day.

The 20 minutes you spend today can save hours tomorrow and turn a good day into a great day.

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Oct 6 2015

6 Things First-Time Entrepreneurs Need to Do Next

stepSo, you had a great idea that you managed to turn into a business. You have a few partners-in-crime, your product has launched and maybe you even raised some money. But now what?

If you are starting your first business, you may feel a little lost when it comes to maintaining your personal drive and helping your company gain momentum. Here are six lifesaving tips to give you some direction and inspire you to move your big dream forward.

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Oct 6 2015

Warren Buffett Tells You How to Turn $40 Into $10 Million

By Patrick Morris

Warren Buffett is perhaps the greatest investor of all time, and he has a simple solution that could help an individual turn $40 into $10 million.

A few years ago, Berkshire Hathaway CEO and Chairman Warren Buffett spoke about one of his favorite companies, Coca-Cola, and how after dividends, stock splits, and patient reinvestment, someone who bought just $40 worth of the company’s stock when it went public in 1919 would now have more than $5 million.


Source: Coca-Cola.

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Mar 19 2011

Five Common Startup Money Mistakes

It’s easy to go wrong when mapping out financials for a new venture. Here’s how to avoid some typical potholes.

Figuring out the financial details of a new venture can seem a mix of aspiration (How much I’d like to make. . .) and folly (I need borrow how much?). But writing down numbers on paper and as accurately as possible is important. It can provide a map to show where you are trying to go and what it will take to get there. It can also reassure investors, employees and yourself that you thought things through, did your research and have a realistic view of what your business needs.

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