Category Young Entrepeneurs

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 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 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

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 11 2011

Young and in Charge

Young entrepreneurs can earn client trust and establish credibility.

Even if you’re a young college entrepreneur at the top of your game, you probably still need to persuade potential clients to look beyond your age and give you a chance. When your company deals with highly technical information or requires specialized knowledge, it can be that much harder to get potential customers to trust you.

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Mar 11 2011

Boot Camps for Entrepreneurs

These programs can provide you with the tools you’ll need before seeking out investors for your startup.

If you’re a first-time entrepreneur with a business idea, you probably need to do a lot of research and planning before you’re able to persuade anyone — banks, angels, friends or family members — to give you funding.

Startup boot camps can help. Their sole purpose is to teach you how to write a business plan and to take hard look at your financial needs and prospects. It’s also a chance to address the shortcomings in your idea and develop answers to the tough questions anyone would ask before handing you money. These programs may take place over a weekend, several weeks or even a few months.

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Feb 28 2011

Standing Up to Slacker Clients

BusinessBeware.biz’s founder helps companies turn the tables on deadbeat customers.

Name: Ashley Bodi, 27
Founded: BusinessBeware.biz, 2008
Business: Website allowing businesses to warn each other about problem customers
Location: Sarasota, Fla.

Sometimes clients are rude. Other times they don’t pay their bills. According to Ashley Bodi, the old adage that “the customer is always right” isn’t always a reality — and she set out to create a sounding board for business ownersdealing with unruly customers.

Bodi’s inspiration came at age 24, while working for her father’s Venice, Fla.-based irrigation and landscaping business. It was there that she encountered her first true problem customer — an “older” man who frequently belittled her because of her young age. When the man finally demanded that she “cut him a break” on his bill, Bodi told him that his business was no longer wanted.

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