Tag: entrepreneurs

3 Surprising ‘Gotchas’ When You Apply for Small Business Credit | All Business

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Applying for small business credit can be time-consuming and frustrating. Research from the Federal Reserve Bank of New York shows the average small business owner spends more than half a standard work week (26 hours) researching and applying for financing.

Unfortunately, putting in that time and effort doesn’t always pay off. The Nav American Dream Gap Report survey found that 45 percent of small business owners whose applications for financing were declined said they were turned down more than once. And research from the 2014 Joint Small Business Credit Survey found that in the first half of 2013, a quarter of firms with employees and nearly a third (31 percent) of those without employees didn’t even bother to apply because they didn’t believe their applications would be approved.

While no one wants to be rejected when they apply for credit, small business owners are at a particular disadvantage because major consumer protection laws don’t always apply to entrepreneurs seeking financing for their ventures.

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7 Reasons All Entrepreneurs Should Strive for Better Writing | Entrepreneur

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Some people see entrepreneurs as leaders. Others see them as inventors. Still others see them as salespeople, or as general businesspeople. But very few people see entrepreneurs as writers.

On the surface, writing and entrepreneurship seem like completely unrelated concepts. Sure, you’ll do some writing as an entrepreneur, like in any professional position, but it’s not fundamentally necessary to become a successful business owner. Or is it?

I’d like to submit that all entrepreneurs have a role as a writer, or at the very least that they can benefit from writing regularly. Why?

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Millennials: 10 Things Old Farts Won’t Tell You About Entrepreneurship (Sixth in the series)

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Rocks

6. Investors and The Rule of Rocks

Shark Tank has done a lot to raise the level of wishful thinking in America.  Many people believe that if you find the right ten slides, or the perfect 30 seconds, you’ll be able to extend your hand and a check will float from the ether and drop into the palm of your hand.

Oh, that this were true.

Continue reading “Millennials: 10 Things Old Farts Won’t Tell You About Entrepreneurship (Sixth in the series)” →

Employment Taxes 101 for Entrepreneurs | Getentrepreneurial.com

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If you thought that filing taxes as a “one man band” was challenging – wait until you hire employees. The government has strict regulations in place for employers that must be followed in order to avoid hefty penalties. Not only will you be responsible for distributing payroll on a periodic basis to your staff, but you’ll also be responsible for paying related taxes for each employee you have on the books. These taxes include federal income, social security, Medicare, and potentially state and city as well.

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Why Vulnerability, Authenticity and Love Are 3 Must Haves for Entrepreneurs | Entrepreneur

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It takes a lot of characteristics to run a business. Ambition, intelligence and tenacity are just a few. It also takes love. It takes love for your vision, your work and yourself. Love is the thing that burns inside you when people tell you that you should give up on your idea. It’s the reason you get out of bed in the morning, ready to kick butt at your own business. Love is also the grace you grant yourself when you make a big mistake.

Love can take many forms, like showing vulnerability by putting yourself out there, trusting in a process to allow something to unfold and being authentic with the people you encounter everyday. It can seem uncomfortable to talk about these things in a business article, but the truth is — that’s where all the magic happens.

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Millennials: 10 Things Old Farts Won’t Tell You About Entrepreneurship (Third in a series) | Peter Mehit

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download (2)3.You can’t succeed without the ‘f’ word

I know what you’re thinking.  Either a.) he can’t possibility mean that ‘f’ word or b.) the ‘f’ word is focus.  Focus would be a good ‘f’ word.  Nothing truly gets done without it.  People who think they are multitaskers are really deluding themselves.  Not even computers multitask.  Designers just add more cores, but each one of them is only processing one instruction at a time, really, really fast.

We teach people how to visualize businesses and focus is an important part of it.  I can tell you I get my best results when I can eliminate distractions.  But that’s not the ‘f’ word we’re talking about.

Continue reading “Millennials: 10 Things Old Farts Won’t Tell You About Entrepreneurship (Third in a series) | Peter Mehit” →

  Top 10 Differences between Entrepreneurs and Wantrepreneurs | Getentrepreneurial

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There are important differences between entrepreneurs and wantrepreneurs that explain why some business people succeed against all odds, while most fail. It isn’t always easy to predict who will come out on top in the competitive world of business. Lenders, investors and prospective business associates considering a relationship with an entrepreneur should carefully evaluate possible liaisons based on the list below. The question to answer is whether the business owner is a committed and focused entrepreneur or a wantrepreneur destined to fail.

Entrepreneurs are passionate about their business and are willing to make it the top priority in their life, in sharp contrast to wantrepreneurs who may talk about their dream but are unable to focus on the business and give it the necessary attention required to succeed.

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Social Media Branding Strategies For Business | Get Entrepreneurial

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twitter1Social media have been so widely utilized nowadays that it has reportedly surpassed Google as Americans’ “number one daily activity” which explains why more and more marketers and entrepreneurs are promoting their business through these platforms.

The potential for business growth via social media is almost endless. Whether you want to gain subscribers, promote a service, or sell a product, the use of social media helps build your social brand. In this era where digital transactions and communication has become commonplace, it is nearly impossible to see any business not to be taking advantage of the growing social media trend.

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5 Habits That Cause Entrepreneurs To Fail | Business Tips

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Fortunately, as the former U.S. Small Business Administration’s Entrepreneur of the Year (and recovering jackass), I get asked to help grow businesses in nearly every industry. Unfortunately, and sadly as a business owner who once practiced the dark art of “Jackassery,” I can empathize with nearly every poor decision they are making because I used to make the same poor decisions as well. My friend, when banks refer me to a business to help them grow or to “turn the ship around” I often see businesses that are crashing and burning firsthand.

Because I’ve personally witnessed these implosions and explosions so many times, I’ve identified five reasons that can account for every failure I’ve witnessed. In the spirit of full disclosure, I must say that I haven’t had the chance to work with an entrepreneur in the clay pigeon or petting zoo industries, so I cannot speak to these industries from experience. Thus, if you are in those two industries, these five habits that cause entrepreneurs to fail, don’t apply to you. However, for everybody else, as you read these habits and false beliefs, ask yourself which one sounds most like you. What are you going to do to begin improving upon yourself and your mindset today?

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