The 6 People Every Startup Needs

There’s no magic bullet for startup success, but your team can often make-or-break it, says entrepreneur Bernd Schoner.

Schoner, who has a Ph.D. from MIT and was co-founder of RFID technologies startup ThingMagic, sold his company to Trimble Navigation in 2010 for an undisclosed sum.

ThingMagic had an original team of five co-founders. But by the time the company was acquired, Schoner says only two were remaining – leading him to think more closely about team dynamics.

Why You Must Have a Business Plan

It's more than a tool for getting funding. Think of it as the road map to your business's future.

Recently someone asked me why they needed a business plan if they were getting all the funding they needed from friends and relatives. It sounded to me as if they were thinking of a business plan as just a fund-raising tool. In fact, a business plan is much more than that: It's a tool for understanding how your business is put together. You can use it to monitor progress, hold yourself accountable and control the business's fate. And of course, it's a sales and recruiting tool for courting key employees or future investors.

8 Ways to Come Up With a Business Idea

The start of the year is a great time to gear up to start a business. But, of course, you first need to figure out a winning concept. "You have to come up with a lot of ideas to be successful," says Stephen Key, cofounder of the website inventright.com based in Glenbrook, Nev., and author of One Simple Idea for Startups and Entrepreneurs: Live Your Dreams and Create Your Own Profitable Company, (McGraw-Hill, 2012).

Key, who has licensed more than 20 products in the last 25 years, says he generates ideas by finding different ways to engage his mind, from walking the aisles of stores to brainstorming about holes in the marketplace.

Here are eight techniques from Key and other experts that could help get your creative juices flowing:

How to Start a Business in 10 Days

With an executive staffing venture about to open, a business loan from the in-laws gnawing at her conscience and a new baby to care for, Michelle Fish was already feeling the pressure. But what really pushed her over the edge was an unexpected communiqué from the IRS demanding immediate payment of a "huge sum" owed from a prior business in which she was a partner. Poof! Her seed money was gone. "All the spreadsheets, all the forecasting, all the preplanning took a back seat once that bill came," recalls Fish, hearkening back to the 2003 launch of her Charlotte, N.C.-based firm, Integra Staffing.

How an Idea Partner Can Help Launch a Million-Dollar Startup

As an entrepreneur, you mind is constantly thinking about the next "big" idea. But what you might deem the next Facebook, could be a total flop.

To separate the million-dollar idea from the total duds, an entrepreneur should enlist the help of an idea partner, or someone to act as a sounding board and provide feedback.

4 Effective Ways You Can Raise Capital for Your Start-Up Business

"How to raise capital" is the biggest concern for every start-up enterprise. Every start-up requires sizeble investment before it starts to deliver profits that in turn are utilized for the growth of business. You need funds at every step of your business development.

Check out 4 most reliable sources you can raise capital for your startup for:

Choosing The Best Funding Strategy For You

There are plenty of strategies you can use to fund your business's growth. The trick is picking the one that suits your company best.

From credit cards and credit unions to VCs and IPOs, a dizzying array of financial tools can help entrepreneurs grow their businesses. With so many options, it's important to pick the best tool for the job. Finance professionals call this "structuring" your business finance, and the right structure can mean the difference between building a monumental company and sinking in the quicksand of debt.

Why Friends And Family Are Your Worst Business Enemies

Every week our firm gets phone calls from clients around the country who have lost their money by investing with friends, family or neighbors they trusted.

In nearly every case, in the beginning there was a guarantee of unusually high returns with no risk, and of course the promises of success from a trusted relationship. However, by the time they call our office, the money is gone, their calls are being ignored and they need legal advice on what to do next.

How to Raise Money for Your Startup -- Now

Raising capital for a startup venture during these difficult economic times has been a major obstacle for many aspiring entrepreneurs. But it's not impossible.

There are several steps budding business owners can take to get in front of prospective investors and to help make sure they pony over the cash you need, says Asheesh Advani, author and co-founder of CircleLending, a peer-to-peer lending service that was acquired by Virgin Money USA in 2007. He now serves as CEO of asset management services company Covestor. Advani was a speaker at Entrepreneur's Growth Conference here on Jan. 11, 2012.

Here are Advani's best tips for landing the money you'll need to get your business off the ground:

Entrepreneurs Who Turned Hobbies into Million-Dollar Businesses

Kim Lavine started making microwavable pillows as gifts for her kids’ teachers in 2001, assembling them at her kitchen table in Grand Haven, Mich., using a corn kernel filling. Around the same time, her husband lost his job, prompting her to consider turning her pastime into a source of income.

She went from selling pillows out of her truck to setting up mall kiosks and incorporating her company, Green Daisy, in 2002. Within two years, Lavine’s Wuvit pillow was in national chains, including Saks Fifth Avenue, Macy’s and Bed Bath & Beyond, and by 2006, it generated more than $1 million in sales.

What Is the Real Survival Rate of Franchised Businesses?

Imagine you're thinking of leaving your job to open a business and decide to do a little research into franchising. A Google search may lead to an evenly balanced sermon on the pros and cons of franchise ownership. Or you may land on this gem from About.com: "Some studies show that franchises have a success rate of approximately 90 percent as compared to only about 15 percent for businesses that are started from the ground up. The increased probability of success usually far outweighs any initial franchise fee and nominal royalties that are paid monthly."

Most experienced franchisees would laugh themselves hoarse after reading that statement. But what about a novice entrepreneur who is considering going it alone? That's the type of thing that might get their heart set on franchising.

How To Shop For A Bank #Enterpreneur

Choosing a bank for your business involves more than opening a new account at your personal bank or picking the branch office nearest your company. You need to understand what services you require and how much they cost. Ideally you’ll find a banker who will take the time to walk you through how to solve a problem, so you can go back to running your business. Still, some business owners may spend more time shopping for a $300 laser printer than they would shopping for a bank.

Here are a few issues to keep in mind when you look for a banker:

How to Find the Perfect Co-Founder

A: This is a tough question, as there is no easy answer. Before I offer up suggestions, ask yourself if you really need a co-founder.

If you are seeking a technical co-founder, because you don't have those skills, you could consider teaching yourself how to code. It is not as insurmountable as most fear. Plus, it empowers you to engage with your technical team, as you hire and build.

That being said, if you do need a co-founder for another skill set, you don't have the time to learn to code or you are just looking for someone to help make decisions, here are a few things to consider:

A Beginner's Guide to Starting and Marketing an App

Building a mobile app for the first time? You no doubt have many questions: Is it worthwhile? Does it make sense? How will people know about it?

Having helped build more than a hundred apps from categories ranging from social networking, utility, entertainment and lifestyle, I get asked a lot of questions by entrepreneurs and businesses on the entire process of building and marketing apps.

Here are the most common ones to help you first-timers build a successful app:

Business Plans For Small Business - Why and How You Should Write One

You have a great idea for a new product or service. You know nothing like what you have to offer exists in the marketplace and in your mind you're going to take over the world!

To add more fuel to your enthusiasm to make things happen you have just lost your job at the company you spent the last 10+ years serving.

This is the answer to your problems, your lost paycheck, loss of pride, and spouse's sky-high stress level!

Things to Consider to Running Business

By Jacob G Sebastian

There are a lot of people who prefer to be a businessman rather than being an employee in the governmental institution or private organization. With a good and careful consideration, running a business is very promising. One of the main things is that they have to know how to run a unique and successful business.

Running a business is very challenging. There will be a time in which you get ups and downs. Therefore, it will be better for you to know well how to run a business. If you have been through a lot of different experiences either good or bad, you will be able to react accordingly to the problem of your business. In addition, interacting with other people is also a good point for you.

The first thing you have to posses before starting your own business is high quality characters such as patience and the capability to take a risk. In addition, you will be able to easily expand and increase your business if you focus on your business. Therefore, you have to set the vision and mission. Most of great businessmen have excellent visionaries and have the ability to see and predict the market changes. It enables you to survive in any tough business competition.

Another good thing you have to possess is the ability to interact with other people including your employees. You should be able to motivate them to increase the productivity. Learn how to be a true boss, but don't be too bossy. You have to be nice to them so that they can respect you.

There are a lot of business fields which you can enter such as restaurant, transport business, mining business, realty and construction business, information technology business, and some others. Since you have a lot of competitors, you have to introduce new concepts and products or services so that you can attract your customers. However, you have to determine one which is suitable with your basic knowledge and skill so that you can handle it well.

Another great idea of starting business is . It gives you some advantages. The first is that you don't need to find new place for your office to rent and the second is that you can allocate your money for another need such as purchasing the materials, equipment or something else needed for your business.

In addition, you have to prepare all the things which can support your business. To keep contact with your clients, you need to install a landline and also internet connection at your home. However, you have to carefully choose the right market for your product or for your service. Keep on focusing on what you are doing. If you think you need to expand, and then expand it.

Market is one of most important thing to consider for a business. With good market you will be able to obtain more profit. To market your product or service, you need to keep contact with your clients. You can usereservationless conference calls. On the other hand, if you want to communicate with them through phone, you can consider flat rate conference calls. It will be more efficient. Article Source: http://EzineArticles.com/?expert=Jacob_G_Sebastian

Business Startup Funding

By Steve Hanagan

Finding business start up funding can be one of the biggest challenges for a would-be entrepreneur. While launching a new business venture calls for a great deal of research, skill, and preparation, many people have a difficult time coming up with the financial resources to get their new business off the ground. As a first step, you should list the various potential sources of funding available to you and determine which approach will be best, given your own unique needs and time frames.

How Much Does it Cost to Start a New Business?

The answer to this question depends largely on the type of business you are looking to start and the choices you make along the way. Some of the most critical pieces to answering this question include:

• Do you have to invest in capital equipment?
• Will you be renting or leasing a location for the business and, if so, will that space require any renovations?
• Will you need to hire and pay employees?
• Will you need to purchase and maintain inventory?

Fortunately, many businesses (e.g. those that are Internet-based) can be started with minimal budget and run from home with no employees, inventory or any equipment other than a computer.

Sources for Business Start Up Funding

That said, the business you're thinking about might require an up-front investment. If that is the case, here are just a few sources you might consider:

Your savings or investments- For starters, you might look to your savings account or liquidate some of your investments.

Borrow from friends or relatives- While this is an avenue many new entrepreneurs take, it should be approached with caution as it can lead to discomfort and hard feelings.

Credit cards- This is another method that should be undertaken very cautiously and only if you believe you can pay off the balance very quickly as credit card debt typically carries a very high rate of interest.

Loan from the bank- A bank loan is often difficult for a new business to acquire. To be successful, you will probably need to show a professional and well-developed business plan along with a plan for repaying the loan.

Before choosing any of the above methods you should be sure to have developed a business plan that you believe in and, to the best of your ability, a projected time frame for recapturing any money you may have borrowed to get your business started.

Steve and his company build database software for business and personal use, including business database software products.

How Entrepreneurs Think

By David Ahmad

The word entrepreneur in itself can get a true individual born for business excited. Becoming an entrepreneur is a longer term endeavor and lifestyle that any person can be, as long as they have the right mindset and strong goals looking into the future. So what does it take to be an entrepreneur and when can you start?

Starting can be one of the most difficult things. You need to figure out your strengths, but more importantly, what you love to do. They say you should always follow your dream. Entrepreneurs interpret that slightly different. They see it as following your dreams with your eye on the money. 

Know These 10 Things Before Starting Your Business

By Jerome Baladad

Having reached a point in life when you've identified that developing a business as being your life purpose, then, proceed to take a pause for a few critical moments. Get pen and paper in hand, jot down all the things that you will need. You may have to consider knowing at least 10 things before you actually get to start operating this business. Seize the opportunity to develop and acquire good knowledge on the following steps to help you grow the business in leaps and bounds:

4 Powerful Business Boosters for Fresh Starters

By Maryrose Malinao

Are you ready to jump into the world of business with busy people and hectic schedules? Do you want to start running your business plans and ideas into reality by now? Are you really up for the challenges of competition and money quests for endless success?

Based on the corporate records of the Small Business Association (SBA), there are always two factors that remain true for every business survival. These includes the owner's primary reason for starting his business and the business owner's educational level.

Here are the top 4 questions that will truly empower a successful business for lifetime happiness.

1. Are you ready for any challenge?

The possibilities are endless here. Are you ready to face any change in your lifestyle, attitude and actions? Your current status may change. Whether you are a student, career professional or an aspiring entrepreneur, you should be ready by now to face greatly empowering challenges in the business world. You will take various roles or wear multiple hats to run your business really well. Your family and friends may not truly understand you here. They could even become your tough critics and may block your business pursuits. Are you really ready to face and conquer these kinds of challenges?

2. Have you found your niche?

This is another powerful question that requires sincere action. Is your mind already fixed on your chosen niche? This is all about your natural passion and interests. A hungry niche can be fed with lots of traffic only if the owner has so much passion to do it and deeply in love with his chosen niche. Use the power of SEO and Google tools to find a lucrative market and a perfect niche you would really love to work on.

3. What are your dynamic plans for success?

Everything that you have to do here involves careful planning. This requires a lot of your creative time and positive thinking to organize things systematically. It is not enough that you vowed to face every challenge in the very first powerful success question asked here. A target niche decision is not even suffice to launch your business to the general public right away. You have to set a systematic plan for a more dignified business.

4. Who will be your target audience?

If you have decided to focus on a certain niche that really captures your interest, you should know your target audience for more sales. You can advertise either online or offline. Take advantage of Google AdSense for more revenues and cash. You could even grab the great benefits of article marketing for more traffic and sincere clients who will give you optimized income along the way.

The internet has a lot of resources and tutorials to teach you how to market your business effectively. After doing a thorough research on all these 4 powerful business boosters, check yourself once again to prepare for the product launching.

So, are you now truly ready for this great business adventure for lifetime success?

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