Opportunities are abundant. Mothers are socializing, going green and even creating iPhone apps.

The new year often brings with it new hopes, wishes and goals. For an aspiring entrepreneur, it might bring a new business. Wondering what business to start? Many of the business trends you’ll see in 2011 will be a great fit for a mompreneur.

“The downturn in the economy opened the gates to a new generation of mompreneurs who are tech savvy and innovative,” says Maria Bailey, author of Trillion Dollar Moms and host of Mom Talk Radio. “Mothers have alway been the leaders when necessity appears and many moms who were in the home when their spouses lost their jobs stepped up.”

1. Still social: Social media has been hot, and I don’t expect the sizzle to die out anytime soon. Mompreneurs are coming up with online businesses that take advantage of moms doing what they already do — connect. Why is this good business for moms? It can be done from home, on your own time, with a relatively low investment. The idea is to find like-minded people who would like to connect. The business model is usually to get enough people using the site that you can charge advertisers. In fact, websites like WordPress and Ning give you the ability to put your social media website together with little expertise and a small budget.

Sample social media sites by mompreneurs:

• Leah Segedie, creator of bookieboo.com, a fitness site
• Kristen Munson, creator of socialmediamom.com
• Heather Reinhard, creator of thetamom.com

Lisa Druxman is Entrepreneur.com’s ” Mompreneur ” columnist and the founder and CEO of fitness franchise Stroller Strides .Druxman is also a nationally recognized speaker and author, and is considered an expert in the field of fitness, particularly pre- and postnatal fitness. She hosts a free monthly webinar during which she answers questions from fellow mompreneurs. If you are interested in participating, contact her at lisa@strollerstrides.com .

Harvard researchers answer 10 perplexing questions.

How can an entrepreneur position themselves to succeed when the majority of small businesses fail?

It helps to know which odds are in your favor. Paul Gompers, Anna Kovner, Josh Lerner and David Scharfstein set out to find why some entrepreneurs are more successful than others. They put together a Harvard Business School working paper, Performance Persistence in Entrepreneurship.

In it, they answer some burning questions. Do first time entrepreneurs have it harder? Does having a renowned venture capital firm behind you help? And most importantly, is successful entrepreneurship a skill, or is it luck?After scouring the 35 page document, here are the fascinating answers to all of those questions and more.

1. Do serial entrepreneurs succeed more than first time entrepreneurs?
Answer: Yes.

If you’re a first time entrepreneur, outlook not so good.

According to the Harvard researchers, there is performance persistence in entrepreneurship.

They write, “All else equal, a venture-capital-backed entrepreneur who succeeds in a venture (by our definition, starts a company that goes public) has a 30 percent chance of succeeding in his next venture. By contrast, first-time entrepreneurs have only an 18 percent chance of succeeding and entrepreneurs who previously failed have a 20 percent chance of succeeding.”

2. Who is more likely to get funded by a VC firm, a new entrepreneur or a tried and true one?
Answer: A new entrepreneur.

Failed entrepreneurs are more likely to get funding than successful entrepreneurs from the same VC firm.

Strange but true.

3. Is entrepreneurial success a skill, or is it luck?
Answer: Starting a company at the right time in the right industry is a skill.

Here’s why: According to the Harvard paper, “The industry-year success rate in the first venture is the best predictor of success in the subsequent venture. Entrepreneurs who succeeded by investing in a good industry and year (e.g., computers in 1983) are far more likely to succeed in their subsequent ventures than those who succeeded by doing better than other firms founded in the same industry and year (e.g., succeeding in computers in 1985).

“More importantly, entrepreneurs who invest in a good industry-year are more likely to invest in a good industry-year in their next ventures, even after controlling for differences in overall success rates across industries. Thus, it appears that market timing ability is an attribute of entrepreneurs.”

Nothing indicated it has anything to do with wealth.

4. Does success breed success?
Answer: Yes.

Entrepreneurs with previous successes can get their hands on more capital and services if suppliers think they are persistent performers.

“For example, high-quality engineers or scientists may be more interested in joining a company started by an entrepreneur who previously started a company in a good industry and year if they believe (justifiably given the evidence) that this track record increases the likelihood of success,” they write.

5. Are companies that are funded by top-tier VC firms more likely to succeed?
Answer: Yes, with one exception (see next question).

The reason these companies are more successful is obvious.

It’s either because the top VCs are better at identifying potential success, or it’s because they’re able to add more value to companies they fund. The Harvard paper assumes both.

6. If a company’s founder has been successful before, how important is the VC?
Answer: If a startup is founded by previously successful entrepreneurs, then the VC firm doesn’t really matter.

Basically, since successful entrepreneurs can easily obtain services and they have a better chance at success, then they really don’t need guidance top VCs provide.

Harvard explains, “If successful entrepreneurs are better, then top-tier venture capital firms have no advantage identifying them (because success is public information) and they add little value. And, if successful entrepreneurs have an easier time attracting high-quality resources and customers, then top-tier venture capital firms add little value.

7. Where do most entrepreneurs get their ideas from?
Answer: From former employers.

Make sure employees sign those non-competes!

The Harvard paper cites a 2000 study by Bhide that finds “a substantial fraction of the Inc. 500 got their idea for their new company while working at their prior employer.”

8. Will VCs give the same entrepreneur funding on their next venture?
Answer: Not usually. The same venture capital firm that funded you before probably won’t give you money again.

You’d think successful entrepreneurs would have no problem getting funding from venture capital firms that previously backed them…but you’d be wrong.

According to a 2007 study by Bengtsson, “it’s rare for serial entrepreneurs to receive funding from the same venture capital firm across multiple ventures.”

9. Who closes VC funding quicker, serial entrepreneurs or newbies?
Answer: Serial entrepreneurs receive venture capital sooner than first-time entrepreneurs.

It makes sense. If you’re established, it’s easier to convince VCs you’re worth betting on. “While 45 percent of first-time ventures receive initial venture capital funding at an early stage, close to 60 percent of entrepreneurs receive initial venture capital funding at an early stage when it is their second or later venture.”

It takes an average of 21 months for established entrepreneurs to secure VC funding compared to 37 months for first-timers.

10. Who receives a higher initial valuation, seasoned entrepreneurs or new ones?
Answer: New entrepreneurs.

They were found to have higher initial pre-money valuations than serial entrepreneurs: $12.3 million compared to $16.0 million for first-time founders.

How can an entrepreneur position themselves to succeed when the majority of small businesses fail?

It helps to know which odds are in your favor. Paul Gompers, Anna Kovner, Josh Lerner and David Scharfstein set out to find why some entrepreneurs are more successful than others. They put together a Harvard Business School working paper, Performance Persistence in Entrepreneurship.

In it, they answer some burning questions. Do first time entrepreneurs have it harder? Does having a renowned venture capital firm behind you help? And most importantly, is successful entrepreneurship a skill, or is it luck?

After scouring the 35 page document, here are the fascinating answers to all of those questions and more.

1. Do serial entrepreneurs succeed more than first time entrepreneurs?
Answer: Yes.

If you’re a first time entrepreneur, outlook not so good.

According to the Harvard researchers, there is performance persistence in entrepreneurship.

They write, “All else equal, a venture-capital-backed entrepreneur who succeeds in a venture (by our definition, starts a company that goes public) has a 30 percent chance of succeeding in his next venture. By contrast, first-time entrepreneurs have only an 18 percent chance of succeeding and entrepreneurs who previously failed have a 20 percent chance of succeeding.”

2. Who is more likely to get funded by a VC firm, a new entrepreneur or a tried and true one?
Answer: A new entrepreneur.

Failed entrepreneurs are more likely to get funding than successful entrepreneurs from the same VC firm.

Strange but true.

3. Is entrepreneurial success a skill, or is it luck?
Answer: Starting a company at the right time in the right industry is a skill.

Here’s why: According to the Harvard paper, “The industry-year success rate in the first venture is the best predictor of success in the subsequent venture. Entrepreneurs who succeeded by investing in a good industry and year (e.g., computers in 1983) are far more likely to succeed in their subsequent ventures than those who succeeded by doing better than other firms founded in the same industry and year (e.g., succeeding in computers in 1985).

“More importantly, entrepreneurs who invest in a good industry-year are more likely to invest in a good industry-year in their next ventures, even after controlling for differences in overall success rates across industries. Thus, it appears that market timing ability is an attribute of entrepreneurs.”

Nothing indicated it has anything to do with wealth.

4. Does success breed success?
Answer: Yes.

Entrepreneurs with previous successes can get their hands on more capital and services if suppliers think they are persistent performers.

“For example, high-quality engineers or scientists may be more interested in joining a company started by an entrepreneur who previously started a company in a good industry and year if they believe (justifiably given the evidence) that this track record increases the likelihood of success,” they write.

5. Are companies that are funded by top-tier VC firms more likely to succeed?
Answer: Yes, with one exception (see next question).

The reason these companies are more successful is obvious.

It’s either because the top VCs are better at identifying potential success, or it’s because they’re able to add more value to companies they fund. The Harvard paper assumes both.

6. If a company’s founder has been successful before, how important is the VC?
Answer: If a startup is founded by previously successful entrepreneurs, then the VC firm doesn’t really matter.

Basically, since successful entrepreneurs can easily obtain services and they have a better chance at success, then they really don’t need guidance top VCs provide.

Harvard explains, “If successful entrepreneurs are better, then top-tier venture capital firms have no advantage identifying them (because success is public information) and they add little value. And, if successful entrepreneurs have an easier time attracting high-quality resources and customers, then top-tier venture capital firms add little value.

7. Where do most entrepreneurs get their ideas from?
Answer: From former employers.

Make sure employees sign those non-competes!

The Harvard paper cites a 2000 study by Bhide that finds “a substantial fraction of the Inc. 500 got their idea for their new company while working at their prior employer.”

8. Will VCs give the same entrepreneur funding on their next venture?
Answer: Not usually. The same venture capital firm that funded you before probably won’t give you money again.

You’d think successful entrepreneurs would have no problem getting funding from venture capital firms that previously backed them…but you’d be wrong.

According to a 2007 study by Bengtsson, “it’s rare for serial entrepreneurs to receive funding from the same venture capital firm across multiple ventures.”

9. Who closes VC funding quicker, serial entrepreneurs or newbies?
Answer: Serial entrepreneurs receive venture capital sooner than first-time entrepreneurs.

It makes sense. If you’re established, it’s easier to convince VCs you’re worth betting on. “While 45 percent of first-time ventures receive initial venture capital funding at an early stage, close to 60 percent of entrepreneurs receive initial venture capital funding at an early stage when it is their second or later venture.”

It takes an average of 21 months for established entrepreneurs to secure VC funding compared to 37 months for first-timers.

10. Who receives a higher initial valuation, seasoned entrepreneurs or new ones?
Answer: New entrepreneurs.

They were found to have higher initial pre-money valuations than serial entrepreneurs: $12.3 million compared to $16.0 million for first-time founders.

By Alyson Shontell

http://www.entrepreneur.com/article/217843

In a crummy economy where work is scarce, Scott Gerber believes that you need to create a job to keep a job.

Please take a minute and read this article if you have ever thought of running your own  business it is written by Alyson Shontell and I found it very motivating.

In a crummy economy where jobs are scarce, Scott Gerber, author of Never Get A Real Job, believes that the only way to secure your employment and financial future is to start a company.

“The resume-driven society says, ‘if we work hard and go to school, we’ll get a job and be ok.’ That traditional thinking no longer applies,” says Gerber. “Now, more than ever, you need to be entrepreneurial to be successful; you need to create a job to keep a job.”

“When you work for someone else you’re putting all your eggs into one basket that you don’t own or hold. If you want to secure your financial future regardless of the bad economy, you need to be in control of your own life,” he insists.

1. First, you’ve got to curb your ego
   “You can’t build a successful business if you don’t have your priorities straight and ego in check,” says Gerber. 

   While entrepreneurs should be confident, if you go overboard you’ll get in your own way.

2. Keep it simple, stupid
   “If your idea is not simple, you’re stupid,” says Gerber. “Build a business that is nuts and bolts practical and not complex.” 

   “Create a simplified product or service that sells X product to Y customer for Z profit,” he says.

3. Always be prepared for the worst-case scenario (because it will happen)
   “Every decision should be thought through; plan for the worst so you’re not caught off guard if it happens,” says Gerber. 

   “Come up with three alternatives for every decision so you’ve taken all outcomes into consideration,” he suggests.

4. Be unoriginal
   “Too many people think they need to reinvent the wheel, but if they do, the wheel will run them over,” says Gerber. “Instead, focus on bettering an idea that already exists.” 

   Use creativity to market an unoriginal idea. “Think of the guys who startedCollege Hunks Hauling Junk,” says Gerber. “They put a creative spin on a pre-existing idea. At its core, it’s just a junk removal business.”

5. Make sure your business isn’t a bottomless pit
   “Start a business that is efficient with few monetary demands in the beginning,” says Gerber. 

   For entrepreneurs will minimal resources, Gerber says to start a business around the little cash available. “Your ideas, then, need to be focused on making money. When I started out, I didn’t have much at all. I just focused on business ideas that could turn a profit quicker and didn’t have many startup costs.”

6. Become a brilliant cheapskate
   “If you want to start a business, you need to change the way you spend money,” says Gerber. 

   “Know the difference between a frivolous expense and a necessity that can be bartered, bargained for, or partnered on.”

7. Don’t partner with just anyone
   Assess if a partnership makes sense before you jump into it. 

   “Your friends might seem like the best partners, but they might end up slacking off and doing nothing. Or someone who seems great might take you through the ringer later on,” says Gerber. “Make sure you evaluate what a partner can bring to the table and make sure it’s worth it.”

8. Toss the old school business plan
   Gerber is a fan of one paragraph startup plans. Anything longer is not necessary. “Stop thinking you have to write a business plan for investors or dense dissertations. You don’t need a traditional plan to be a small business owner,” Gerber says. 

   “Business planning isn’t a revenue-generating opportunity. Instead, get started on your business so you can make money as soon as possible.”

   Gerber recommends writing one paragraph in question and answer format in lieu of a 95-page plan that takes six months to put together. “Don’t use business plan software, don’t listen to experts — they’re nonsense. All you need to do is organize your thoughts in a way that’s good for your business.”

9. Phones won’t ring themselves
   By this, Gerber means to constantly be marketing your company in new, creative ways. 

   “Put yourself out into the world. Always be selling yourself without being a used car salesman,” he says. “Join groups, network regularly, and find different ways to get your business in front of people.”

10. Be afraid
    Be afraid to have never failed. In other words, the idea of not trying should scare you. 

    “Be afraid to wake up 10, 20, 30 years from now and be pointing your finger at the TV saying, that was my idea!” says Gerber. “What you should never be afraid of is to never get a real job.”

Finally, stop listening to your parents and thinking you need to validate your college degree
Most people have dreamt of being their own boss, setting their own hours, and having every minute of work be directly beneficial. According to Gerber, whether you’re just graduating college or are already in the workforce, this dream is possible.

“College kids should be starting businesses. They are at the point in their lives where they can scale their livelihoods down, and they have extra time to put in hard work,” says Gerber.

“Generation Y: Stop listening to your parents and thinking you need to validate your college degree with a ‘real’ job,” he cautions. “Instead, build your own financial future; use your time wisely now so it will pay dividends when you’re older.”

For people who already have traditional jobs, it’s not too late to start a personal endeavor. “Just take a look around and see that [by working for someone else] you’re putting all eggs into one basket that you don’t own or hold,” says Gerber.

“If you want to secure your financial future regardless of the bad economy, you need to be in control of your own life. That doesn’t mean that entrepreneurship is easy, but it allows you to make your own destiny. Every hour of work can be for you — that’s a major change from a 9-5 job.”

http://www.entrepreneur.com/article/217724

Welcome!! I guess you are wondering what this site is about and asking yourself how can I start a business for free? Well you don’t necessarily need a lot of money to have a great idea. I will be posting samples of this so you can see that I am not joking and have researched what I am talking about in fact I did it myself. My name is Greg Lewandowski and I am CEO of my up and coming marketing company called Innovative Design Studios, LLC. We specialize in helping small to medium sized businesses stay ahead of there competition by providing companies with a one stop marketing shop. Please visit our website http://www.innovativedesignstudios.net for more information.

Where do we begin? Lets try starting from the bottom because thats where all things start from. Dedication and hard work will bring you to the top.