It is not uncommon for the creative people among us to have a hobby of sorts. When you are naturally creative, you often need an outlet to express your thoughts and feelings through, and this can sometimes result in arts or crafts. Perhaps, for example, you harbor a great love for jewelry and have started crafting your own for friends and family at home. Or, maybe you are a talented artist who spends much of their time at home working on what could one day be a masterpiece. More often than not, creative people do these types of things in their free time and on the side of a regular full-time job. But what if someone said to you that you could turn your creative hobby into an actual career? We’ve all heard the saying ‘do what you love, and you’ll never work a day in your life.’ If you are ready to take your creativity and build a successful business around it, here are the steps you’ll need to take.

Be the best at what you do

While there’s nothing wrong with being your own biggest fan, you also have to be realistic about your own capabilities. Honestly, there are likely to be quite a few other people who have the same idea as you and who want to make a living out of their craft. The market can be incredibly competitive, and if you lack in any part of your trade, you may end up falling behind. Take the time to hone your skill and think about anything you could be doing to improve it, whether that is spending more time practicing it or even taking a course.

Image source Read More Turning Your Creative Hobby Into A Viable Business

Starting a Business

If you are thinking about starting a business in the world of hospitality, there are plenty of considerations to take on board. One of the most important is what kind of business you are actually going to start. You have quite a few options here, but it is worth thinking about them carefully as there can be a surprising number of differences between them. You will need to think about the many ways in which they differ as well as what makes them similar if you want to make the best possible decision. In this article, we are going to look at a few examples of hospitality businesses which you could consider starting.

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Read More Which Hospitality Business Is Right For You?

Starting a Business

Photo Credit

 

Many businesses that are started these days tend to sell services of some kind and are particularly focused online. When it comes to launching a product business, it can sometimes feel like something out of a different era. But, if you have the right product, then a huge amount of success could be waiting around the corner for you. Though some of the principles of product and service businesses remain the same, there are a few obvious differences. Here are just a few of them to give you a general idea of the pressures and pitfalls of each business type.

Read More What Makes A Product Business Different?

Starting a Business

From Flickr

 

The online retail niche has been swelling at an incredible rate for some time now, and with the recent dawn of highly accessible ecommerce platforms, it’s become a godsend for budding entrepreneurs looking to get their first company off the ground. Starting an ecommerce site, especially if you don’t have any experience, may sound like a big task, but following these steps will ensure you get a great start… Read More 3 Steps For Ecommerce Success

Starting a Business

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Jordan French

Over here at Entrepreneurial Ambitions we know that success as an entrepreneur isn’t given to you: It is earned. For all the talk there is from people about wanting to be a successful entrepreneur, the majority rarely follow up their constant talk with persistent action. It is as if they receive more enjoyment from talking about success, rather than experiencing success. This is a backward mentality but is unfortunately how many “entrepreneurs” operate.

 

For every successful entrepreneur there is, there are probably a hundred others, if not more, who are failing or operating a mediocre business. Building success as an entrepreneur isn’t a small feat. It will probably be one of the hardest endeavors you pursue in your life. So much is expected of you and you want to step up and deliver, rather than being seen as a failure.

 

This is why I love to have conversations with individuals who have produced success as an entrepreneur. Their knowledge and insight is valuable information that can be used to help others operate more effectively as an entrepreneur.

 

My recent conversation was with Jordan French, co-founder of reputation management pioneer Status Labs as well as BeeHex, the 3D food printing award winner and media darling. From this conversation, you will learn how Jordan French developed a business that was named to the Inc. 500 and Fast 50 and how he positioned himself to gain more opportunities as an entrepreneur by co-founding BeeHex. Read More Change Agent Jordan French Talks Pioneering Industries at Status Labs, BeeHex

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reasons small businesses fail

 

It can be hard to get an accurate temperature of the small business climate. Some experts will tell you that small businesses are doing quite well; while others will say small business owners are struggling. The inconsistencies of information being put out will make a person wonder if it is worth it at all to become a business owner.

There are arguments about the tax code being too hard on small businesses.

There are arguments about the economy being too slow for small businesses.

There are arguments about small businesses having a lack of resources and support.

While these arguments may be valid, they are not the end and be all that determines a business’s ability to perform within the marketplace. The ultimate determining factor that leads to a business’s success is the business owners ability to develop the strategic process which will produce successful results.

I say this because I have encountered many business owners who do not understand how to develop a profitable business. For one reason or another, they have missteps within their business operations which cause their business to lack sustainability. As these missteps go unchecked, they continually erode overtime, leading to a business which can’t avoid failure. Read More 4 Reasons Small Businesses Fail

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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

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