Friday, March 31, 2017
I was browsing Twitter the other day and I saw an article that was going to give me 101 companies that I could start for under $100. I’m not going to mention who published it *Cough* Entrepreneur *Cough*. But the publisher and the author weren’t what I took issue with. What really ground my gears about this article was the idea that true entrepreneurs are out there shopping for ideas. And that kind of scares me. Because I’ll tell you right now, there really is only one company that you should start. Regardless of what your skillset is, what your background is, or where you are located, the only company any entrepreneur should ever start is always just one: the one that you’ll love to run.
See, I didn’t tell you which markets were booming, which customers have cash, or which companies have the best chance of success. Because while all of those things play some small part in a company, the biggest factor that every entrepreneur needs to keep in mind is their love of the game.
Because here are some hard truths that sometimes get glossed over when we’re talking about entrepreneurship.
Wednesday, March 22, 2017
The other night we were talking with a group of young people when one person said that she wasn’t able to start a business because she couldn’t qualify for a loan. As you can imagine, several of us chimed in that we didn’t have funding either when we started our businesses.
Of course some businesses require funding, and we understand that. Capital-intensive industries, for instance, require a large up-front investment to get off the ground. However, if you have an entrepreneurial spirit, a modicum of talent and a lot of drive, you can start a business without funding.
To back this up, we conducted a quick search and found dozens of articles with low or no-cost business ideas. We particularly liked one from Small Business Trends that lists 25 businesses that you can start for less than $100.
That said, some business ventures fall somewhere in the middle. They need some funding. And, to be truthful, we ourselves needed to live on savings for several months until we built up a clientele in our consulting businesses that supported our lifestyle. If you plan to rack-up credit card debt or tap your 401(k) to fund your own dreams, you should fully understand what you are getting into. And a robust business plan is an important element. There are many free templates available. Find one you like and use it.
Below are several questions your business plan must address. We caution you to be brutally honest. If your idea isn’t going to fly, it’s best to come to grips with this reality now rather than after you've invested your life savings in the venture. The questions you should answer are:
Saturday, March 4, 2017
The challenges facing your personal training business clients are many: time constraints, stress, aging and terrible food options at grocery stores and restaurants, to name a few. Fortunately, the health and fitness industry is evolving to meet these challenges. While that means you have to adapt with the changes to stay competitive and attract clients, it also means that opportunities to grow your business are never in short supply. And with so much happening in the field, you’ll always be assured that your work will be exciting and inspiring.
Following are some of the trends that offer an opportunity for you to enhance your training business and draw in new business.
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The other night we were talking with a group of young people when one person said that she wasn’t able to start a business because she c...
I was browsing Twitter the other day and I saw an article that was going to give me 101 companies that I could start for under $100 . I’m ...