Entrepreneurship requires you to admit you can’t do everything on your own. Fortunately, seeking help will be your company’s competitive advantage.…
Want More Revenue? Focus on What You Can Do for Your Customers
by / ⠀Startup Advice / September 4, 2019
As businesses grow, they evolve to match market changes and shifts in consumer demand. Yet companies always need to increase revenue.…
When you own a business, the simple act of acquiring another small business is often one of the smartest investments you can make. Not only does it provide an opportunity for an additional stream of revenue, but it can also yield advantages in areas like taxes, accounting, and resource maximization. But business acquisitions are rarely easy or straightforward. Things can get messy, and it’s important to do your…
Many entrepreneurs start their businesses because they genuinely like what they’re doing. But even if that’s the case, eventually, you’ll need to think about retirement. You can’t keep working forever; at some point, you’ll want to take things easy (and hopefully have enough money to live comfortably). With Social Security running out of money, and no higher-up employer to provide you with retirement benefits directly, it’s all on…
How to End a Business Partnership on Good Terms
by / ⠀Entrepreneurship• Startup Advice / May 28, 2019
Every business partnership has ups and downs. Usually, the lowlands and peaks balance each other out. When the valleys become the status quo, however, it may be time to dissolve the partnership. The good news for partners in this predicament is that there are always other entrepreneurial fish in the sea; you can even use a dating app to find them. In the meantime, though, you have to…
4 Automation Tools That Won’t Break the Bank for Small Businesses
by / ⠀Startup Advice / April 2, 2019
When you hear the word “automation,” what do you picture? A self-driving car? A factory free of human workers? In reality, those applications represent an exceptionally small share of small business automation. The production and operation functions are actually the two least automated functions, according to a QuickBooks study released last April. So what are small business leaders automating? Among the 66 percent of those using automation tools, most…
Room to Grow: The Advantage of Co-working Spaces for Entrepreneurs
by / ⠀Entrepreneurship / March 28, 2019
Co-working is growing in popularity — even major companies are claiming office space in these centrally located and shared spaces. For entrepreneurs, though, co-working spaces are about more than just convenience; these community offices solve a number of the major challenges that independent businesses face. By moving work to a shared space, entrepreneurs cut costs, build connections, and create conditions that allow them to scale up as needed,…
Big Business Strategies That Small Companies Can Emulate
by / ⠀Entrepreneurship• Startup Advice / March 26, 2019
Big businesses are big for a reason — they’re getting something right, usually when it counts the most. Moreover, they’ve already found their footing after making it through the early days of uncertainty and instability. That successful leadership journey alone counts as an invaluable lesson for smaller business owners. You can learn a lot by studying exactly what big businesses have done right, even if their circumstances might…
Marketers tend to make a big deal out of terms like “purpose” and “authenticity.” Why? Because research findings, survey results, and numerous other studies indicate that these things matter to customers. Brands that exist beyond mere profit — and can communicate that purpose clearly — tend to succeed. On the other hand, those that behave in a way that doesn’t match their message are penalized by consumers. They’re…
How I Pitched Mark Cuban My Business Idea Without Ever Going on ‘Shark Tank’
by / ⠀Blog / August 8, 2016
Back in late 2011, I got the opportunity to pitch Mark Cuban. I was just a student at the time, at Howard University, and cofounder of a company — no longer existent — called My College Hustle, a bartering platform for college students. Hoping to grab a $25,000 prize, my business partner Edward Lyles and I participated in a Shark Tank-style competition, in New York, that actually predated…