One of the simplest and smartest ways to establish a positive business credit history is by using a business credit card. Like a personal credit card, a business credit card offers you a revolving line of credit with a set credit limit. This means that as soon as you pay it off, you can use it again (unlike a business loan, which requires a new application for each new loan).
When you’re launching your business, connecting with customers and refining your product or service are top priorities. But another thing you should consider, which isn’t always top of mind, is your security strategy. It is an integral part of your company’s longevity, and to be the most effective, it should be a part of your planning right from the start.
It could have been a giant cinderblock. It certainly would have cost less and would have served the same general purpose. Soon to rise in Varansi, India, is a breathtaking structure to house silk artisans. Designed by celebrity architect David Adjaye, the facility will reflect Buddhist-Moghul-Hindu architecture and the values of the area. A 500-year tradition in this region of the world, handmade silk crafting has come under tremendous pressure from machines that can produce products faster, although at a lower level of quality. As an industry, it faces extinction in as little as a decade.
One of my favorite TV shows is Pawn Stars, because it gives you a chance to see the art of deal-making over and over. It also teaches an important lesson for business owners: When you’re thinking of selling your business, know what it is worth.
It’s interesting to me that when people come in to the Las Vegas pawn shop to sell items, they almost always have unrealistic expectations about what their items are worth. Most have no point of reference for the value of the item, so it’s as if they are negotiating for a price they have pulled out of thin air.
Just as items being offered at the pawn shop are only worth what the buyer is willing to pay, so are businesses.
When creating your brand, it’s imperative that you think about everything from your logo to color scheme to to the tag line. You also have to have a memorable brand name, strong message, support system, and all of the necessary legalities, like getting trademarked, in place.
But, that’s only the beginning of your branding process. To help you complete creating your awesome brand, give these nine tips a spin as well.
My Old-School Chiropractor Is Better at Marketing Than Most Entrepreneurs
This past week, my employer brought in a chiropractor — let’s call him Dr. Dave — to talk to my co-workers and I during lunch. Dr. Dave pulled a classic chiropractor move and gave us a “healthy” Subway lunch and bottles of water.
Dr. Dave also happened to crush content marketing.
The art of storytelling has been practiced for thousands and thousands of years. Through movies, books, fairy tales, and bedtime stories, we have all been exposed to storytelling, and most of us at one point or another have been engrossed in the tale. But have you ever stopped to think about how storytelling impacts your business?
I strongly suggest that would-be entrepreneurs do a business plan. As a result of completing the plan you will be much better prepared and know whether or not your business idea is feasible. Try the following article for a short-cut. However, I caution you on following a short-cut unless you have substantial experience or knowledge about your area. Proceed with caution without a business plan!
How is your business unique, and why will your goods or services appeal to customers? What are the primary differences between your company and your competitors? What are the driving factors to choose your business over another?
As an entrepreneur, coach, and mentor I work with a lot of people in all different stages of their businesses. Over the past few years I’ve started to document a pattern: entrepreneurs go through phases. Shonda Rhimes, television producer and writer known for her hit series “Grey’s Anatomy” confirmed my belief in an interview about running her own business. She talked about how in the beginning we are always trying to get somewhere, then we reach that place but we worry we will lose it. Things seem almost to good to be true.
I experienced this in my own business when my last book, “Adventures for Your Soul”, came out. It was my third book, so from the outside one might assume I’d be sitting pretty comfortable with the aspects of releasing a book. But I found myself falling back into the beginning stages, which brought up all these new emotions. Every project of our business represents a new phase, which requires we show up in new ways.
When your business is just getting off the ground, it’s often just you and your partners burning both the midnight oil and the candle at both ends. Once you’re going somewhere, it can be a great learning experience to handle all components of business operations — but eventually, you’re going to need help.
As your startup gets bigger and you start to bring on team members, it’s important to think about not only the kind of person you’re hiring, but also the role they’ll play in your growing business. You may think that with increasing interest in your product or service, you’ll need to hire more and more salespeople, but salespeople don’t grow businesses alone.
You’ll need a support system built on highly specialized expertise that you may only get through hiring outside professionals.
