Over half of Americans say they want to work for themselves, and it’s clear that the entrepreneur lifestyle is one that’s attractive to many. It’s not easy to get yourself ready for this kind of journey, though – especially when it comes to personal finance. But getting your finances in order is essential for anyone who wants to work for themselves and prevent their business from failing before it’s even begun.
Here’s how to get started.
Get credit and loans in order
Americans have over one trillion dollars in credit card debt alone, and wannabe entrepreneurs are no exception.…
If you’ve decided to start your own business, you might be wondering how you’ll navigate the confusing world of entrepreneurship and step out on your own. How will you manage your time, and how much money will you need to get your ideas off the ground? There are big decisions to make, but the more research you put into your venture, the higher your chances of success.
So, whether you’re ready to quit your day job and work for yourself full-time, or you’re launching a start-up on the side, there are several things you need to know about being your own boss.…
When you’re running a business, one thing matters above all else – your bottom line. If you can generate sufficient sales and cash flow to cover your expenditure and have something left over, you’re in a strong position to grow the company substantially. If you’re sweating about making it to the end of the week, you might need to look back and see how such a precarious situation came to pass.
It takes a large element of good fortune to succeed in business, but no entrepreneur has kept a company going for several years without being financially sensible and having the unwavering drive to be number one.…
Seniors are one of the hottest demographics in small business right now; over a quarter of all new businesses were started by someone over 55, and half of all small businesses are owned by someone between the ages of 50 and 88.
It’s not hard to see why seniors succeed: they’re often more financially stable, have solid contacts from their years in the workplace, have more experience and are better able to approach the variations of the business world with a level head.…
Arthur Wellesley, 1st Duke of Wellington and celebrated British general once said that 50 000 men plus Napoleon equals 100 000 men. What this military mastermind meant by that is that a great leader can make his men significantly more effective. The rule is applicable to the world of modern business. Regardless of your line of work there is nothing that can improve your business as a proper leadership can. However, one question remains unresolved: what is it that makes an efficient leader.…
You may or may not be a morning person, but you do realize the importance of morning rituals; after all, they do set the tone for the rest of your day. For entrepreneurs who would rather plan than stumble and rush away, hoping for yet another less-stressful more-productive day, this is what Steve Liefschultz has to offer in terms of advice.
No More “Snooze”
Wouldn’t the whole system kind of collapse if everyone, from government officials and CEOs to entrepreneurs, continued to sleep in?…
I am a firm believer that entrepreneurship can be taught.
With that being said, I do believe that some people are born with entrepreneurship genes, which make the pursuit of opportunities seems natural. For some others, however, they need to do more in order to be successful: They need to personally and professionally develop themselves in such a way that they have what it takes to start a business – and actually guide it to success.
In the end, it’s about mindset, really.…
Those individuals who start their own businesses often do so with an expectation that they will end up working long hours. There’s a realisation that being successful within a business environment will mean dealing with numerous challenges.
The time that will be spent working will almost inevitably mean missing out on some family occasions. For those who believe that nothing can be more important than spending time with children, this can feel like a really negative element to be associated with entrepreneurship.…
The entrepreneurial spirit is an indelible part of the fabric of capitalism. Come on: Henry Ford? Steve Jobs? What is it about these giants who become tycoons that gave them the ability to turn an idea into a global phenomenon? It’s a question that sits and burns in the back of the mind of everyone with a great idea, and everyone who wants to be their own boss. It has to start with a harsh truth, though – entrepreneurship is not for everyone.…
The chances are that the vast majority of the businesses functioning in the world today started from a light bulb moment. That fleeting second in time when an idea hits you and you instantly know it’s more important than any other idea that’s ever popped into your mind. A spark of creativity that bounces around in your mind until you finally figure out a way to turn it into a viable business, but how? And what next?
Many light bulb moments will be followed by endless procrastination or self-doubt, but if you really want to turn them into fully fledged neon signs of business success then you need a plan of action.…
