Job Security vs. Entrepreneurship: Why It’s Not One or the Other | All Business

November 5, 2024November 4, 2024 ~ knjohn ~ Leave a comment

It’s time to take a hard look at career assumptions. Who is your boss? Many people in our society are raised to believe that the best way to become financially secure is to get a job and earn a “regular” income. The idea of safety, stability, and security fed by the receipt of a regular paycheck seems sensible.

But really, it is more a scenario of sacrificing freedom, empowerment, and control in exchange for taking orders dutifully. If you are competent, you may have the ability to switch jobs, but you could also get laid off in spite of your grand abilities. Further, when you want to increase your income, it is at the discretion of a boss regardless of the amount of hours or energy you put into your job, or how many jobs you try on for size.

As an employee, you willfully put yourself into a subservient position, one that really isn’t all that secure when you realize at any given time someone in a superior position at the company can say a few words and turn off all of your income.

25-Year-Old’s Side Hustle Hits Multimillion-Dollar Revenue | Entrepreneur

September 18, 2024September 17, 2024 ~ knjohn ~ Leave a comment

What was your day job or primary occupation when you started your side hustle? When I started EB Denim, I was still in high school. I started selling reworked vintage Levi’s to my friends and classmates because I loved having pieces that no one else was wearing. I was always repurposing clothes; even as a kid, I would destroy my brother’s clothes in the name of individuality. When I started bringing them to school, peers would keep asking for more, and soon enough, I was selling denim shorts out of my locker room. It was exciting to see something I did for fun turn into a real business so quickly

Should You Start a Business Without a College Degree? | businessnewsdaily.com

July 23, 2024July 21, 2024 ~ knjohn ~ Leave a comment

Entrepreneurship can be an excellent way to achieve financial freedom, but building a successful business takes time, hard work and perseverance. Some budding business owners may opt to get a jump on their entrepreneurial ideas and skip college to pursue their dreams.

While you don’t necessarily need a college education to become a successful business owner, quitting school to pursue entrepreneurship might not be the right choice either. College can help you gain expertise in specific business subjects while learning and honing soft skills like communication, time management and leadership. We’ll look at the pros and cons of skipping college to start a business and what to consider when making this decision.

Exploring the Road to Entrepreneurship: 8 Tips to Help You Succeed | The Startup Magazine

June 18, 2024June 17, 2024 ~ knjohn ~ Leave a comment

Americans, in particular, are known for their love for entrepreneurship. The country has some of the greatest startups to its credit.

A record 5.5 million new business applications were lodged in the United States in 2022. Did all of these businesses survive? No. The idea of becoming your own boss thrills many, but they often forget that the road to entrepreneurship is riddled with challenges and uncertainties.

To succeed in the competitive business world, you must be strategic, adaptable, and well-prepared besides being passionate. Here, we’ll share some tips that will help you navigate the complexities of entrepreneurship and increase your chances of success.

Mother’s Side Hustle Turned Full-Time Sees Up to $20M a Year | Entrepreneur

March 19, 2024March 18, 2024 ~ knjohn ~ Leave a comment

This Side Hustle Spotlight Q&A features Elle Rowley, founder of Solly Baby, a company that produces sustainably sourced baby wraps made of 100% certified TENCEL Modal and other baby gear. In 2023, Rowley stepped away from her day-to-day role (she now serves the brand as a strategic advisor and is on the board), and the company welcomed Nicole Newhouse as CEO to lead the next stage of Solly Baby’s growth.

When did you start Solly Baby as a side hustle, and where did you find the inspiration for it?

After having my first baby in 2009, I was surprised to find a surge of creative inspiration that I had never known before having kids. My husband was still in school, and I was hungry to start something to supplement our meager student income. By the time I was pregnant with our second child in 2011, the online world was fertile ground for mothers looking to start a side hustle from home. I tried a few different things, but I intuitively knew that there was a gap in the market when it came to aesthetically pleasing baby gear, so I was pretty focused on that space throughout my pregnancy.

Starting a New Plumbing Business from Scratch | The Startup Magazine

September 26, 2023September 24, 2023 ~ knjohn ~ Leave a comment

Venturing into the realm of launching a plumbing business is an exhilarating endeavor, brimming with the promise of autonomy, entrepreneurship, and the potential for substantial financial rewards. Plumbing, being an essential service in homes and businesses, offers a vast array of opportunities for growth and sustainability. However, akin to any entrepreneurial venture, establishing a prosperous plumbing business necessitates careful planning, strategic decision-making, and a solid grasp of both the plumbing industry and the fundamentals of business management. So, here’s what you need to know about starting a plumbing business. From understanding the dynamics of the market and legal requirements to formulating effective marketing strategies and cultivating client relationships, these tips will provide you with comprehensive knowledge and invaluable insights essential for steering your plumbing business toward thriving success.

Market research

Initiating your journey into the plumbing business world mandates a thorough and meticulous foray into market research. It’s paramount to comprehend the demand for plumbing services in your targeted geographic area and delve into the intricate intricacies of your potential customer base. This involves a comprehensive analysis of competitors, assessing their strengths, identifying their weaknesses, and understanding their market positioning. This process might take a lot of time and energy, but it’s all going to be worth it in the end.

Find Out What Kind of Entrepreneur You Are | AllBusiness.com

March 15, 2023March 13, 2023 ~ knjohn ~ Leave a comment

Despite how they’re often treated, entrepreneurs are not a monolith. Instead, they’re driven by various motivations and approach business differently. This is illustrated by the annual Small Business Growth Trends report from Keap, which reveals four unique types of small business owners. To get more insight into these entrepreneurial types, I talked to Clate Mask, the CEO of Keap.

Rieva Lesonsky: What were the unique types of business owners identified in your Small Business Growth Trends report?

Clate Mask: Our survey found that entrepreneurs fall into four different segments:

Uncommon Skills Every Entrepreneur Needs to Thrive | The Startup Magazine

November 3, 2022November 1, 2022 ~ knjohn ~ Leave a comment

No wonder, the demand to pursue entrepreneurship has been rising in recent years. Around 5.4 million new businesses have been registered in 2021. Besides, 78% of small businesses say that they are profitable. Although statistics show that about 20% of new businesses fail within the first two years, the desire to become a successful entrepreneur is increasing constantly.

However, there is no specific personality or demographic profile that makes a successful entrepreneur. Some of the entrepreneurship skills needed to succeed include basic money management skills, having a growth mindset, networking, etc. While these are common skills, let’s discuss some of the uncommon ones that not many entrepreneurs bother to develop.

Adaptability

Adapting yourself to the constantly changing needs of the market is what makes an entrepreneur successful. Adaptability is an important feature that most business owners lack. Besides, it can lead to making unfavorable decisions for the business and might attract consequences.

7 Things No One Tells You About Starting a Business | Entrepreneur

August 25, 2022August 23, 2022 ~ knjohn ~ Leave a comment

“You’re crazy!” “Are you sure?” “That’s going to be hard.” These are all things entrepreneurs hear when they talk about starting a business. The critics aren’t wrong; it is going to be hard, but that doesn’t have to stop you from being successful in your business. As long as you strategize, plan and read this article before starting a business, you’ll be well on your way. Here are seven tips that no one tells you before you start your business:

Inflation’s Unexpected Dividend: More Entrepreneurs | Inc.com

July 7, 2022July 6, 2022 ~ knjohn ~ Leave a comment

Up to four million Latino workers are thinking about taking the entrepreneurship plunge to help cope with record-high inflation.

That’s according to a new reading of a December survey from QuickBooks, Intuit’s fintech software arm, which was collected as the nation’s inflation gauges were rapidly escalating. The survey suggests that 15 percent of Latino and Hispanic respondents expressed interest in becoming an entrepreneur in 2022. The U.S. Bureau of Labor Statistics estimates the number of Latino and Hispanic workers in the U.S. at 27.1 million.