Source: Business News Daily
There’s no surefire formula for instant success, but you can boost your business’s growth with these tips from startup founders.
– Growing a business may take time, but there are a few things you can do to scale your company more quickly.
– Calculating the growth rates of various metrics and then comparing them to one another gives you a more complete picture of your business’s trajectory.
– While there is no way to guarantee success, implementing these tips can put your business in the best position to succeed and grow.
This article is for entrepreneurs who want to measure their business’s growth while continuing the success of their company as it scales.
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February 26, 2023 | admin
Source: Entrepreneur Partner Studio Staff
The long-term success of a business hinges on more money coming in than going out. Follow these tips to help make sure your business stays in the black.
As a business grows, so does the list of responsibilities on an entrepreneur’s list. Letting cash-flow management slip to the bottom of that list can spell disaster for small businesses.
Having a solid cash-flow management strategy is crucial to keeping your business’s growth and financials on track, but sometimes it can be difficult to identify problem areas before they can affect that strategy. Here are three common cash-flow mistakes for small-business owners to avoid so that they can keep growth at the forefront of their operations.
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November 22, 2022 | admin
Source: Fool.com | The Ascent
When you own a business, there often comes a point where you need to borrow money to maximize growth. Although many lenders offer business loans, they generally have revenue and time in business requirements that some companies will have trouble meeting. Even getting an SBA loan can be difficult for newer businesses.
If business loans are out of the question, here are three other funding options that could work for your business.
1. Personal loans
A personal loan is one of the most flexible types of loans you can get. While most loans must be used for a specific purpose, a personal loan can be used for just about anything, including business expenses.
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October 30, 2022 | admin
Source: Reuters
WASHINGTON, Sept 13 (Reuters) – U.S. small-business confidence improved in August as worries about inflation subsided and demand for workers remained strong despite the uncertainty shrouding the economy, a survey showed on Tuesday.
The National Federation of Independent Business (NFIB) said its Small Business Optimism Index increased 1.9 points to 91.8 this month, reversing some of the deterioration suffered in the first half of the year.
Read the full article: https://www.reuters.com/markets/us/us-small-business-sentiment-rises-august-nfib-2022-09-13/
September 21, 2022 | admin
Source: CNBC
“I truthfully didn’t even know the word entrepreneur. I was in my late thirties, and I didn’t know the word ‘brand,’ I didn’t know the word ‘entrepreneur,’” Bethenny Frankel, founder of SkinnyGirl, told Sharon Epperson at the CNBC Small Business Playbook virtual summit on Wednesday.
Now, just over a decade later, Frankel is a widely successful and self-made entrepreneur, who sold her pre-packaged low-calorie margarita, Skinnygirl Cocktails, for a reported $120 million, and continues to delve into a series of ambitious business ventures with her Skinnygirl lifestyle brand, ranging from specialty food items to branded apparel.
While she may not have always envisioned a life in business, she always envisioned her next big idea, and what it would take to turn it into reality, she told Epperson.
Read the full article: https://www.cnbc.com/2022/08/03/bethenny-frankel-on-why-good-ideas-are-not-enough-to-be-successful.html
August 14, 2022 | admin
Source: New York Times
“I feel like it’s 50-50,” said the owner of a Brooklyn coffee shop who is finding it hard to rebound from the pandemic.
Kymme Williams-Davis opened a coffee shop in Brooklyn called Bushwick Grind in 2015. She spent $200,000 renovating the space she rented and added a kitchen. She specialized in coffee brewed from locally roasted fair-trade beans.
Bushwick Grind did well until the pandemic hit and the shop had to close for nine months.
But as my colleague Lydia DePillis wrote, running a small business hasn’t gotten any easier since Bushwick Grind reopened. Foot traffic has yet to rebound. Williams-Davis’s expenses for coffee and other ingredients have skyrocketed, in part because farmers from upstate New York she used to depend on are saving on gas by driving to the city less often.
Read the full article: https://www.nytimes.com/2022/07/29/nyregion/small-business-owners-are-still-struggling-in-new-york.html
July 30, 2022 | admin
Source: Entrepreneur
Being a “mompreneur” has taught me everything I need to know and understand in running a successful multi-million dollar business operation. Some of the top strategies I use today resulted from my experience as a mom raising two children on the autism spectrum, but they could apply to all the other working moms (and dads) out there. Here are five of the most essential.
Read the full article: https://www.entrepreneur.com/article/403799
January 11, 2022 | admin
Source: Cision – PR Newswire
As we celebrate Hispanic Heritage month this year, it’s a good time to recognize the many contributions of Hispanic small business owners. And there truly are many. Wells Fargo served as lead sponsor of the Latino Donor Collaborative’s U.S. Latino GDP Report, which tracks the growing influence of the Latino community within the U.S. economy, and the results are incredibly promising. Latinos contributed $2.7 trillion to the U.S. GDP in 2021, equivalent to the seventh largest economy in the world, and they’re growing 57% faster than the U.S. economy overall. From 2010 to 2019, the U.S. Latino GDP was the third-fastest growing among the 10 largest GDPs in the world, with the U.S. economy ranking fourth. Latinos are also accounting for 68% of the growth in U.S. labor participation.
Read the full article: https://www.prnewswire.com/news-releases/4-tips-to-help-latina-business-owners-achieve-success-301400993.html
October 17, 2021 | admin
Source: Business News Daily
Negotiating your first lease for office or retail space can be intimidating for new business owners. Here’s how to make the process go smoothly.
– A commercial lease should include the lease term and type, rent amount, security deposit details, permitted use clauses, exclusive use clauses, and details about maintenance and renovations.
– The most important thing you should do before you sign a commercial lease is to learn the language in it.
– Consider seeking out professional advice before you sign a commercial lease.
This article is for first-time commercial lease signers or lessees who want tips about what to look for in a commercial lease.
Read the full article: https://www.businessnewsdaily.com/7619-negotiate-commercial-lease.html
September 18, 2021 | admin
Source: BusinessInsider.com
You may want to refinance your student loans if you’re looking to snag a lower interest rate or get smaller monthly payments. With reputable lenders, you likely won’t pay any fees to refinance, but you may lose key protections if you refinance federal loans.
Unlike refinancing a mortgage, which can cost thousands of dollars in fees, refinancing a student loan is generally free. Reputable banks, credit unions, and online lenders won’t charge you to prequalify or apply to refinance with them, and there’s no amount due to get your loan from most lenders.
Here’s what different types of student loan fees mean:
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August 4, 2021 | admin
