Tag: entrepreneurs

Dads Started a Business for Kids Making $100M+ This Year | Entrepreneur

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When Darren Litt’s daughters were little, he asked their pediatrician for tips to keep them healthy. The doctor recommended a daily multivitamin, but when Litt ordered the brand on Amazon, the product that arrived gave him pause: The gummy vitamins were stuck together in their plastic tub with a layer of sugar on the bottom.

“ I thought, If I won’t give this to my own kids, why would anybody?” Litt recalls. “So I asked friends, ‘Is this what you give your kids?’ And almost everyone said the same thing: ‘Yeah, kids like the taste, but we’re not sure it’s good for them.’”

One of those friends was Litt’s former co-worker Adam Gillman; he had the same impression, and a light bulb went off: What if they built a “smarter version” of the type of multivitamin they wanted for their own children? “ No sugar, no gummy junk, just what kids actually need,” Litt says.

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6 Ways to Spot and Capitalize on Emerging Social Media Trends | Entrepreneur

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Social media is one of the most powerful marketing tools available to small businesses and entrepreneurs. Currently, 84% of all consumers check out a brand’s social media page before making a purchase, resulting in about 20% of all sales coming directly through links from social media. For this reason, entrepreneurs often prioritize getting as much visibility on social media as possible. One of the most effective ways to accomplish this is by creating viral content and taking advantage of emerging trends.

The challenge with trends is that they only create a very short window of opportunity, lasting just a few days or weeks. These trends can be difficult to spot when they are just warming up. Most brands that try to capitalize on trends do so when the trend is fizzling out and don’t get the most benefit. Companies that can jump on the leading edge of a trend can significantly improve their ability to be prioritized by the social media platform’s algorithm and gain massive momentum from going viral. This can result in thousands, if not millions, of additional views to your post or social media profile. A single viral post can completely change the trajectory of your business’s long-term success.

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3 Downsides of Venture Capital—And How to Avoid Them | All Business

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Raising money for your business can be great. Many entrepreneurs see it as validation that they’ve “made it.” While it is a good sign that a professional investor has kicked the tires on your company and is willing to invest their money, there are some downsides to venture capital that might mean that raising venture funds is not the right path for you.

Sure, there are many advantages of securing a round of investment from a “value-add” partner. It can open the doors to important introductions, kick-start a business into high growth, and even refocus a business for success. But not all venture funding stories have such happy endings. There are, in fact, times when a business might encounter more negatives than positives when accepting venture funds.

To avoid this path, there are potential scenarios in which venture capital is a major drawback:

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How to Give a Presentation | businessnewsdaily.com

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Business presentation skills are critical in the professional world, particularly for entrepreneurs and small business owners seeking new investments or trying to land important client accounts. A robust, exciting presentation can entice and sway your audience, but a weak effort can cost your business time, money and opportunities.

While many entrepreneurs aren’t necessarily excellent public speakers or even practiced sales professionals, everyone can learn how to improve their presentations by honing specific corporate presentation skills.

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How to Minimize Your Startup Costs | Business.com

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Startup history abounds with stories of entrepreneurs who made it big on shoestring budgets. Spanx founder Sara Blakely began her shapewear business in the 1990s with just $5,000 in savings, and Nike co-founder Phil Knight famously paid just $35 to the graphic designer who came up with the company’s iconic swoosh logo. Many big business owners became successful by keeping costs low and staying frugal.

Today, there are more ways than ever to save money as a new entrepreneur. Here are five strategies for startups to keep their finances healthy as they grow.

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5 Digital Transformation Challenges and How to Overcome Them | AllBusiness.com

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At this point, most small business owners know that digital transformation is necessary for their businesses to survive in today’s continuously disruptive times. And yet, according to David Rogers, a professor at Columbia University and the author of The Digital Transformation Roadmap (available in September), 70% of digital transformation efforts fail. He says that’s because “companies view these efforts as technology problems rather than the organizational challenges they truly are.”

But entrepreneurs can’t let those dreary stats stop them. And don’t assume that failure is a given for your small business.

Rogers says, “The imperative of digital transformation is less understood among small businesses. Some owners have started efforts, while others may not even be sure exactly what digital transformation means.”

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Ways To Build Customer Trust In Your Business | The Startup Magazine

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As a business, you should do everything in your power to make your customers trust you. Whether you run a healthy food business or a clothing store, customer trust is important as it will ensure customers continue to come back to use your business, which will help you maintain a great reputation and regular sales. If you are unsure of how to maximize customer trust, here are some tips.

Have secure payment methods in place

Having secure payment methods in place will guarantee the safety and protection of your customer’s details, so they never feel worried about their financial information in your possession, which will make them trust you.

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12 Steps to Take Before Opening a Business | Business

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While no two businesses are exactly the same, there are common steps entrepreneurs and potential business owners must take before opening the doors of a new company.

When it comes to launching a new business venture, the intrepid American spirit hasn’t suffered in the wake of the COVID-19 pandemic. According to the U.S. Census Bureau, a record 5.4 million new business applications were filed in 2021. It may be the right time for you, too, to embark on starting a new company. Before doing this, however, there are essential steps entrepreneurs need to take.

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Tips for Entrepreneurs to Minimize Expenditure | The Startup Magazine

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Entrepreneurs who have a great business idea and have started a company need to keep a keen watch over where they spend their money. This includes variable costs (e.g., sales commission, raw materials, and packaging) and fixed costs (property rental, company car instalments, etc.). Some of these decisions are easy to make while others require you to do your research and make comparisons. For example, the decision to rent or purchase a business property is usually an obvious one for a start-up.

Initially, you need to have the cash flow to keep the company up and running and start making profits before looking at big investments like commercial property.

The early years of a business often require trade-offs between something that would really help you and not being able to take on more fixed costs. Cash flow should not be put at risk as the young business is still in a very vulnerable area of its growth and an unexpected expense could land you in hot water. Here are some startup cost cutting tips to help you to minimize your business expenditure.

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9 Inflation Tips for Startups | AllBusiness.com

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The United States experienced historic inflation in 2022, and it paved the way for the surge of price increases that followed into 2023. Meanwhile, people continue to become entrepreneurs. According to the U.S. Census Bureau, over 5 million applications were filed to form new businesses in 2022. And now, many of these companies are facing an impending recession—or an economic squeeze at the very least.

For these fledgling startups, it’s important to proactively combat the rippling effects of inflation to stay afloat. From reassessing margins to cutting costs, the following inflation tips can help startups and entrepreneurs lessen the impact of economic headwinds.

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