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How to Price Your New Product Right

by / ⠀Funding Startup Advice / January 3, 2013

When you are new to the marketplace, pricing your product or service is an important and many-layered process. You don’t want to over-price and scare off customers, but you also don’t want to underprice and send a message that your service is cheap. Your customers are smart enough to know that they usually get what they pay for. Take pricing extremely seriously, and take your time with it.…

My Life, My Money: How to Control Your Personal Economy

by / ⠀Funding / December 30, 2012

In these uncertain economic times, it is tempting to blame your financial situation on the economy, especially when the news continually floods the airways with negativity. Although media pundits and financial experts would like us to believe otherwise, you can’t control the overall economy, and contrary to popular opinion, neither can politicians. What you can control, however, is what I like to call your personal economy – that…

It’s Never Too Early for Young Professionals to Start Building Wealth

by / ⠀Funding / December 26, 2012

For many young professionals, building wealth may seem like a topic geared more towards those who are planning for retirement instead of those who are in the early stages of a career. However, it’s never too early to start accumulating wealth. In fact, the earlier you start, the better off you’re going to be. Investors today have a huge array of investment options. Many of these options can…

Is Your Bank Committed to Your Small Business?

by / ⠀Funding Startup Advice / November 18, 2012

Despite benefitting from a low cost of capital, your enterprise is still burdened by higher costs to finance its inventory, its capital expenditures and most importantly, its receivables. Why is this happening? Well, in this economy customer demand is down, and customer bankruptcies are up. Both increase your costs of financing, and both impact your cash flow. However, there’s something far more important to be concerned with: whether…

Small Business Loan Refinancing: Is Now The Right Time For You?

by / ⠀Funding Startup Advice / November 17, 2012

It is very common for small business owners to take out small business loans to raise the capital they need to cover all of their start-up costs.  From paying for rents at their commercial building to investing in marketing materials, there are several start-up costs that the average entrepreneur cannot cover without help.  But when you started your business, there is a chance that you were forced to…

Top 5 Principles of Economics for Entrepreneurs

by / ⠀Funding Startup Advice / November 11, 2012

Economists love theory – sometimes, they love theory so much that they forget about the applications. As an entrepreneur and an expert in practicality, you can enjoy the fruits of economic theories. Below: five principles of economics for people of action. People respond to incentives. When you fully understand this principle, the rest of economic theory seems redundant. The casual reader of popular economics (such as the ubiquitous Freakonomics by Levitt…

Is Crowdfunding Right For Your Business?

by / ⠀Funding Startup Advice / November 9, 2012

There’s been a lot of recent buzz around crowdfunding, but is it best for your business? Crowdfunding can be particularly useful for idea stage startups, because without the figures to base a loan upon it can be difficult to get a bank to lend you the money, and often it’s too early for angel investors. Finding investors requires a large network, but putting together a contact-base from scratch takes a…

Financially Savvy: How to Approach Credit Cards as a Young Entrepreneur

by / ⠀Funding Startup Advice / November 7, 2012

I remember how excited I was when I first decided to open my own custom-made apparel store. For years, I had imagined what it would be like to finally branch out and start selling my own women’s clothing designs, but nothing could have prepared me for the financial hardships I was about to face. Being young and naïve, I decided to take out a series of loans and…

No Money, Mo Problems: 5 Ways to Stay Positive While Starting Up

by / ⠀Funding Startup Advice / October 29, 2012

You had a light bulb moment. You jotted down the idea. You did some research. You wrote a business plan. You’ve got skill. You’ve got passion. You’ve quit your job! You’re an entrepreneur. All of this sounds great, but so many entrepreneurs are caught off guard when they are not greeted with immediate entry into the market, clients lining up for services or customers screaming for their new…

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