This blog contribution is being made by Paisley Hansen, a freelance writer.

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Over 90% of startups fail and there are about 627k new business started every year. This is not meant to be an in-depth business overview but merely some tips to keep in mind to assist a startup in not contributing to that 90% statistic.

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Keep track of ALL your expenses

 

This may seem obvious, but you may be surprised how much is being spent on non-essential items and services. Make a record of everything purchased and organize them by what is essential and what is discretionary. Many startups when securing the first round of funding, or turning the first profit, splurge on office spaces. It’s hard not to “show” your success. You don’t need to go all out, just snag some cheap office furniture and make do.

Even if this is done over a short period of time it can uncover a lot. A careful review of spending can show how much wasteful spending can be channeled to more important functions. Investing in reliable software, or even just high-quality office organizer that you can use to keep track of and organize your budget may be worthwhile, depending on your needs. Read More 5 Tips to Budget as a Startup

Entrepreneurship Small Business Starting a Business

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When people ask me how long have I been an entrepreneur, I tell them I have been an “entrepreneur” for the last 8 years. Notice I put quotation marks around entrepreneur. I will explain the reason for this later in the post.

I graduated from high school in 2007. I had been working at Wendy’s since 2005 and left there after I graduated to go work at UPS. UPS only lasted a couple of months. I just couldn’t see myself continuing down the path of being a highly praised but underpaid worker.

While at UPS I created my entertainment company. Man was that an eye-opening experience. The creation of this entertainment company was my main reason for leaving UPS. I was going to take the entertainment industry by storm. So I thought.

When I left UPS I needed another job asap. My plan was to go apply at Family Dollar. Instead my mom asked me to come work with her since she was opening a new office in downtown Atlanta.

So I was going into 2008 set and ready to make things happen, so I thought again. I had my new entertainment company and I was the “COO” of my mom’s tax business.

To cut a long story short, things started off “great” and ended terribly. My attempt at creating a studio for my entertainment company drained my pockets and my role as COO did not go as I envisioned.

The reason this occurred is because I didn’t truly understand entrepreneurship nor business ownership. Entrepreneurship is turning an idea into a product/service that has demand in the marketplace. Business ownership is taking that product/service, scaling it for growth and employing others to manage your business operations. Read More What 8 Years of “Entrepreneurship” Taught Me

Entrepreneurship Self-Improvement Starting a Business Young Entrepreneur

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Today’s blog post is a guest post provided by Maple C of http://inspirationspark.us/

Tax season is a time when, like it or not, we reflect upon our financial decisions over the past year. Some of our choices will result in extra funds we’ll have to send to Uncle Sam, and thankfully, others will help keep money in our pockets.
While most of us don’t necessarily look forward to tax time, those who do usually feel a sense of victory in receiving a sizeable refund after taking advantage of as many tax deductions as possible. And there are many things that you, too, can do to help ensure that you aren’t paying a dime more than you have to this tax season. Here are a few suggestions to help make that happen: Read More Don’t Pay More than You Have to In Taxes

Entrepreneurship Finances Small Business

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If there is one thing that entrepreneurship can promise; it is that you will constantly learn as you progress forward. And this learning process is what separates successful entrepreneurs from average entrepreneurs.

I say this because successful entrepreneurs learn from both success and failures. Average entrepreneurs seem to never really learn from either. And therefore, they remain in the same average position their entire entrepreneur career.

I make this observation due to the fact that I have been around a lot of entrepreneurs and business owners over the years. The successful ones are always challenging themselves to accomplish more and backing their talk up with complementary actions. The average ones talk loudly proclaiming this and that, but never put forth the effective actions which will move them beyond their average position. Read More Gaining Perspective on Entrepreneur Success

Entrepreneurship

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I was going through my Google Alerts for Entrepreneur and Entrepreneurship the other day and came across an interesting article on Entrepreneur. It was an article that talked about the 4 Strategies John Lee Dumas used to build a $250k a month podcast. If you are not familiar with John Lee Dumas, he is the founder of Entrepreneur On Fire, which is a great podcast for entrepreneurs to have on their list of podcast. Read More F.O.C.U.S. and Its Importance for Entrepreneurs

Entrepreneurship Small Business Starting a Business Young Entrepreneur

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HUSTLE. The word “sophisticated” business people hate to use and be associated with. The word hustle has a negative connotation attached to it for many people who operate a business but it is a word I love.

If you are an entrepreneur, small business owner, startup founder; you are most definitely hustling. You are not just operating passively because doing so would most certainly jeopardize your ability to be successful. You have to be aggressive/ assertive everyday while building your business. Just because opportunity is available, it doesn’t mean it will just be handed to you. Read More Why Entrepreneurs Must Love the Hustle

Entrepreneurship Small Business Starting a Business

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I am not one of those people who says you must go through extreme hardships in order to be considered an entrepreneur. And I am also not one of those people who believes that everyone should be an entrepreneur or can be an entrepreneur. Entrepreneurship is not some job with set hours and set requirements outlined for you to perform. Entrepreneurship is an ongoing process of actions that you have to continuously develop and properly structure in order to produce the most rewarding output for your efforts. Read More Why Do People Believe Entrepreneurship is Easy?

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