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Entrepreneur

The 13 Worst Businesses to Start in 2013

1. A distribution business. Since most products are a commodity and almost anything can be purchased directly from the manufacturer, distributors are a dying breed. The middleman is on his way out. Try instead: Start a business that adds value and is hard to duplicate. Change the form of the product or add services that make the product more usable for the intended customer. 2. A “deal a day” website. The industry is in a downturn, and merchants no longer ...

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What kind of business should I start?

Starting a business is way cool these days – everyone is doing it. And what’s not to love about it, right? That being said, the only question then is what kind of business should you start? That’s the burning question on the lips of many a would be entrepreneur stuck in cubicle nation. Here’s my take – I hope to whatever God you pray that you have discovered the next new big thing and that you have your patent attorney ...

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How to find a Niche Market

A market in its entirety is too broad in scope for any but the largest companies to tackle successfully. The best strategy for a smaller business is to divide demand into manageable market niches. Small operations can then offer specialized goods and services attractive to a specific group of prospective buyers. There are undoubtedly some particular products or services you are especially suited to provide. Study the market carefully and you will find opportunities. While researching your own company’s niche, ...

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Why Existing Companies Need Planning Too

Does your company have an annual strategic plan? Does your company develop an annual plan to polish its strategy, focus on main priorities, and manage its cash? Every business needs to plan Unfortunately, there is a myth that associates planning with start-ups. That’s particularly common in the United States. Because of that myth, inertia, putting out fires, and related reasons, a lot of businesses miss out on the opportunity to manage themselves a bit better. As an owner or manager ...

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The 11 Harsh Realities Of Being An Entrepreneur

There’s always talk about the end game in the form of an acquisition, funding announcement, or eventual flame out. Hollywood has even made a movie about the founding of Facebook that glamorizes startup life instead of showing what it really is: a day in day out marathon of work with very little glamor. We rarely hear about the harsh realities that entrepreneurs face and the journey that this entails. This isn’t meant to be a downbeat and negative article, but ...

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14 Ways To Be A Great Startup CEO

Everyone thinks that being a startup CEO is a glamorous job or one that has to be a ton of fun. That’s what I now refer to as the “glamour brain” speaking aka the startup life you hear about from the press. You know the press articles I’m talking about… the ones that talk about how easy it is to raise money, how many users the company is getting, and how great it is to be CEO. Very rarely do ...

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4 Marketing Aces for your Tech Start-up

Marketing a Tech Start-up is challenging and costly. While using social media offers one route to generate some demand it represents but one piece of the jigsaw. Instead, the following 4 strategies represent some of the more powerful demand-generation activities (aka Aces) that should be considered by new businesses: 1. Concentrate on Building a Really Great Product. I make no apologies for making what seems like an obvious statement. There are too many new products and services that are simply… ...

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Is Your Business Healthy?

Answer the following questions with either a ‘YES’ or a ‘NO’. Put each question into the context of your own business: is your business facing problem? ‘YES’ or ‘NO’? Is your industry, sector or market going through significant change? Do you have difficulty in saying what is really different about you – what makes people buy from you rather than your competitors? Do you lack a clear vision/strategy? (are you missing a map of where you are going?) Are you ...

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5 Cold, Hard Questions Every Entrepreneur Should Ask Themselves

Is your quality of execution sufficient to take quality of execution off the table as a variable? Poor execution of the right strategy will most likely lead to failure, just as brilliant execution can hide the holes in a flawed strategy. So where are you on that scale? If you’re happy with the quality of your execution, on balance, you need to look deeper for the source of the challenges in your business. Do your customers understand your offering differently ...

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