Technology: GrowBusiness

Showing posts with label GrowBusiness. Show all posts

Monday, August 7, 2023

Small Business Start Up Financing

[ad_1] The number one question I get asked as a small business start-up coach is: Where do I get start-up cash? I'm always glad when my clients ask me this question. If they are asking this question, it is a sure sign that they are serious about taking financial responsibility for start it. Not All Money Is the Same There are two types of start-up financing: debt and equity. Consider what type is right for you. Debt Financing is the use of borrowed money to finance a business. Any money you borrow is considered debt financing. Sources of debt financing loans are many and varied: banks, savings and loans, credit unions, commercial finance companies, and the U.S. Small Business Administration (SBA) are the most common. Loans from family and friends are also considered debt financing, even when there is no interest attached. Debt financing loans are relatively small and short in term and are awarded based on your guarantee of repayment from your personal assets and equity. Debt financing is often the financial strategy of choice for the start-up stage of businesses. Equity financing is any form of financing that is based on the equity of your business. In this type of financing, the financial institution provides money in return for a share of your business's profits. This essentially means that you will be selling a portion of your company in order to receive funds. Venture capitalist firms, business angels, and other professional equity funding firms are the standard sources for equity financing. Handled correctly, loans from friends and family could be considered a source of non-professional equity funding. Equity financing involves stock options, and is usually a larger, longer-term investment than debt financing. Because of this, equity financing is more often considered in the growth stage of businesses. 7 Main Sources of Funding for Small Business Start-ups 1. You Investors are more willing to invest in your start-up when they see that you have put your own money on the line. So the first place to look for money when starting up a business is your own pocket. Personal Assets According to the SBA, 57% of entrepreneurs dip into personal or family savings to pay for their company's launch. If you decide to use your own money, don't use it all. This will protect you from eating Ramen noodles for the rest of your life, give you great experience in borrowing money, and build your business credit. A Job There's no reason why you can't get an outside job to fund your start-up. In fact, most people do. This will ensure that there will never be a time when you are without money coming in and will help take most of the stress and risk out of starting up. Credit Cards If you are going to use plastic, shop around for the lowest interest rate available. 2. Friends and Family Money from friends and family is the most common source of non-professional funding for small business start-ups. Here, the biggest advantage is the same as the biggest disadvantage: You know these people. Unspoken needs and attachments to outcome may cause stress that would warrant steering away from this type of funding. 3. Angel Investors An angel investor is someone who invests in a business venture, providing capital for start-up or expansion. Angels are affluent individuals, often entrepreneurs themselves, who make high-risk investments with new companies for the hope of high rates of return on their money. They are often the first investors in a company, adding value through their contacts and expertise. Unlike venture capitalists, angels typically do not pool money in a professionally-managed fund. Rather, angel investors often organize themselves in angel networks or angel groups to share research and pool investment capital. 4. Business Partners There are two kinds of partners to consider for your business: silent and working. A silent partner is someone who contributes capital for a portion of the business, yet is generally not involved in the operation of the business. A working partner is someone who contributes not only capital for a portion of the business but also skills and labor in day-to-day operations. 5. Commercial Loans If you are launching a new business, chances are good that there will be a commercial bank loan somewhere in your future. However, most commercial loans go to small businesses that are already showing a profitable track record. Banks finance 12% of all small business start-ups, according to a recent SBA study. Banks consider financing individuals with a solid credit history, related entrepreneurial experience, and collateral (real estate and equipment). Banks require a formal business plan. They also take into consideration whether you are investing your own money in your start-up before giving you a loan. 6. Seed Funding Firms Seed funding firms, also called incubators, are designed to encourage entrepreneurship and nurture business ideas or new technologies to help them become attractive to venture capitalists. An incubator typically provides physical space and some or all of these services: meeting areas, office space, equipment, secretarial services, accounting services, research libraries, legal services, and technical services. Incubators involve a mix of advice, service and support to help new businesses develop and grow. 7. Venture Capital Funds Venture capital is a type of private equity funding typically provided to new growth businesses by professional, institutionally backed outside investors. Venture capitalist firms are actual companies. However, they invest other people's money and much larger amounts of it (several million dollars) than seed funding firms. This type of equity investment usually is best suited for rapidly growing companies that require a lot of capital or start-up companies with a strong business plan. [ad_2] Source by Susan L Reid https://4awesome.streamstorecloud.com/small-business-start-up-financing/?feed_id=38196&_unique_id=64d125c59b867

Sunday, July 23, 2023

Small Business Venture Capital Strategies

[ad_1] When launching a new small business, often the entrepreneur will consider venture capital as a source of funding. Here are 3 tips to ensure that venture capital funding can be secured when sending out your business plan:

Send your business plan to the right people
Make sure your business has the potential to be profitable enough
Remember to include an exit strategy for your investor

In summary, by sending your business plan to the right people, by recognizing what rate of return is necessary for venture capitalist involvement, and by including an exit strategy, you can improve your odds of securing venture capital funding for a new and growing business. [ad_2] Source by Marc Mays https://4awesome.streamstorecloud.com/small-business-venture-capital-strategies/?feed_id=37982&_unique_id=64bd8265a3a31

Friday, July 14, 2023

Writing Stand Up Comedy - Point of View

[ad_1]

When writing stand up comedy, consider the point of view you use in your stand up act. Comedy writers who use different characters are completely into the character point of view and comedians who use observations use the narrator point of view. However, most comics tend to use a variety of all three points of view.

The following exercise can improve your success at writing stand up comedy because you will learn to utilize the three points of view through four different stages. In stage one, you will be you as yourself in an argument. In stage two, you will become the other person using the you as other character point of view in the argument. In stage three, you will argue back and forth between the other character and you. In stage four, you will use all three points of view for writing stand up comedy. In particular, you will use yourself as the narrator to set the scene and make remarks throughout while the you and other characters point of views are arguing back and forth.

As a setup for this exercise, here are some guidelines to follow:

• You must create an argument between you and another adult.

• The other adult needs to be someone you can personify because you will only be this other adult in stage two.

• You must argue standing face to face.

• Multiple problems need to be included so that the argument will last for three to four minutes.

To help ensure the success of this exercise and writing stand up comedy, base this argument on a real argument that you have had. You do not need to reenact the exact argument, rather use it as a beginning point to get you started. Have fun and let the argument become whatever you want it to. You can even use this as an opportunity to say all those things that you wish you had said before.

Just as a caution, try not to use a recent argument or one that is close to your heart. This exercise is meant as a tool for learning and writing stand up comedy, not to analyze your life.

Using these guidelines, choose your argument. Now that you have chosen your argument and understand the different roles, you can get started with the exercise. One more thing; you may want to have a pencil and paper handy for notes. Successfully writing stand up comedy depends on many factors and choosing an effective point of view is a crucial consideration.

[ad_2]

Source by John Halas

Podcasting Equipment

Fans

Coffee Makers

Household Supplies

Emergency Food Supply

AM/FM Portable Radios

Water Storage

Small Appliances

https://4awesome.streamstorecloud.com/writing-stand-up-comedy-point-of-view/?feed_id=37866&_unique_id=64b1b3d00c500

Tuesday, July 11, 2023

Smart Entrepreneurs Wear Six Hats

[ad_1]

Entrepreneurs are necessarily optimistic. You need to be, it allows you to see the possibilities around you and act on them.

However, the downside is that your emotional attachment can blind you to problems that are otherwise obvious to someone who is not as personally invested in the project.

This is why smart entrepreneurs learn to wear six hats: six "Thinking Hats". Originally defined by psychologist Edward DeBono, the Six Thinking Hats are a structured creativity tool to help you look at a situation from different perspectives, to solve a problem or to foresee and minimize risks before they turn into problems.

When you "wear" a specific color hat, it gives you permission to look at your problem is a specific way:

White Hat: Analytical - What does the data say? Look at the available data, both quantitative and qualitative. What are past trends? What can you extrapolate? Where is the evidence to support your assumptions? Where do you need more data?
Red Hat: Emotional - How do you feel about this? Access your intuition, gut reaction, emotion. Talk about your feelings about the situation, where you feel good and not as good. How would others feel about this?
Black Hat: Pessimist - What could go wrong? Think cautiously, defensively, why it might not work. Poke holes in the idea, look for the weak spots, all with the intention to identify what needs to be addressed in order to overcome any problems.
Yellow Hat: Optimist - What if all goes right? Think optimistically, positively. Imagine all the opportunities, the benefits, the advantages. Reach for the stars!
Green Hat: Creative - How can we make this better? Use your creative juices to think "out of the box". Explore weird tangents, unexpected synergies, make it into a "purple cow" (something remarkable that stands out from the crowd).
Blue Hat: Process - What do we need to do now? Direct the process of creativity so avoid getting stuck. When in "Blue Hat" mode, step back from the problem and consider if you are giving all of the other hats equal time.

Entrepreneurs seem to do quite well with the Yellow, Red and Green Hat approaches to thinking about an idea. There is more resistance to the White Hat (analytical) and definitely a big block around Black Hat thinking. Could this be because the Analytical and Pessimist are associated with external control?

There is nothing to fear from the Black Hat - it can be your best friend. Wearing the Black Hat gets you out of cheerleader mode and forces you to examine your assumptions up close. From personal experience, I know that when a project backfires, the failure can be traced back to an assumption that was not properly tested. Black Hat thinking gives your project real traction by foreseeing the difficulties and encouraging defensive planning. This makes the plan more resilient and improves the probability of success.

As you explore wearing the various Hats, put on the Blue Hat (Process) from time to time to see if you are considering all the perspectives of your project. Note that the purpose of this thinking exercise is not to assign fault or blame. The mindset of every Hat is to make sure the project succeeds.

It is great fun to dream big and to reach for the stars. But if you want to make any progress, you need to keep your feet on the ground. Practice wearing the Six Thinking Hats as you plan and execute your business project. This mindset will give you the traction to power your project towards real and enduring results.

[ad_2] Source by Davender Gupta

Business Packaging

Printers

Networking Equipment

Dell

Office Chairs

Keurig Coffee Makers for Office and Home

Security Lighting

https://4awesome.streamstorecloud.com/smart-entrepreneurs-wear-six-hats/?feed_id=37804&_unique_id=64ad90d21a953

Saturday, July 8, 2023

Podcasting Software - 10 Essential Tips

[ad_1]

Podcasting has come a long way from its birth in 2003. In a little less than a year after that, Podcasting had become very popular around the world, with more and more information available to everyone. Now, you can hardly find a single person who hasn't at least heard of the word podcast.

More than just looking for podcasts and listening to them, the interesting thing to do for many is to create their own podcasts. There is definitely no lack for information on how to make your own podcast. Podcasting is really quite simple - all you need is you and your material and the right podcasting software. There is a plethora of podcasting software to be found on the internet. Here are some important tips to remember when choosing the one for you.

First you have to get an audio recorder. There are a lot of audio recorders out there. What you need to look for is software that records quality audio. Of course, you have to make sure it runs with your operating system.

Then find a good audio editor. Recordings always need to be edited in order to present the best quality podcast. Some software combine recording and editing features. These kinds of software will make it easier for you.

In choosing your recording and editing software, take note of its output format. Generally, the MP3 format gives you the best compatibility for audio while MPEG is best for video. If the software you choose does not create these types of files, you can make use of conversion software. It is important for your conversion software to be able to compress your file to a manageable size. Smaller file sizes are easier to upload and download.

Before you publish your podcast, make use of playback software. You will be able to listen to your podcast just as subscribers will. This will ensure the quality of your final product.

In choosing podcasting software, you should also check if it creates RSS feeds. Podcasts are found and downloaded by users through RSS feeds. Without this capability, you would have to find your own RSS feed creator.

Perhaps one of the best ways to promote your podcast would be through iTunes. Thus it would be a great plus if your podcasting software created valid iTunes feeds. This way, your podcast would have maximum exposure. More listeners will be able to access your podcast. More potential listeners will find out about your podcast.

In order to upload your podcast, you need a file transfer program. There are certain podcasting software that automatically include this feature. It is beneficial for you to use software offering such functionality.

Without promotion, you might as well publish your podcast. Software that allows listing in podcast directories gives you an edge. Most podcast listeners look for new podcasts in the numerous directories online. Do not allow your podcast to remain unnoticed by missing out on the directories.

The idea of podcasts is to create a series. Updates to your series are part of podcasting. Choose software that will alert multiple directories for updates. This way, you won't have to manually alert each directory you are listed in.

[ad_2]

Source by Philip Nicosia

Podcasting Equipment

https://4awesome.streamstorecloud.com/podcasting-software-10-essential-tips/?feed_id=37753&_unique_id=64a9f6cf67c57

Wednesday, June 7, 2023

Micro Entrepreneurs

[ad_1] Micro entrepreneurs are the owners of small businesses that have fewer than five employees and have startup costs of less than $35,000 and annual revenue of less than $100,000. There are nearly 21.5 million micro entrepreneurs in the U.S. Examples of micro entrepreneurs are owners of bakeries, beauty parlors, child care facilities, repair shops, arts and crafts shops, painting businesses, contracting businesses, family-owned shops, auto body shops, small-scale restaurants, and small-inventory trading businesses. Micro entrepreneurs face many hurdles in getting startup financing, and they sometimes lack the skills necessary to manage the financial aspect of their business. As a result, many micro entrepreneurs cannot grow and develop their business beyond a micro enterprise. Various micro enterprise development programs have helped micro entrepreneurs achieve great success and growth. These micro enterprise development programs have immensely helped micro entrepreneurs who lack collateral needed to secure a loan or those who have low or no credit by providing them with training, support, help in developing a solid business plan, and assistance in building their businesses. Successful micro entrepreneurs have contributed much to society by creating wealth, economic assets, and jobs. How To Become A Micro Entrepreneur It is essential to study the market thoroughly and understand that market's customers before deciding on the type and kind of product or service to be offered. Here are some suggestions: Work out a sound business plan by doing extensive research and seeking help from the various micro enterprise development programs. Make arrangements for the startup capital by using savings, opting for a micro loan program, or applying for a grant. Do extensive market research, get the necessary training and skills required, and learn how to use technology to help run your business easily. Study the competition and analyze how you can better them. Get a good retail space to run your business as well as decide on the price, making sure it is right and has a profit margin; decide how to utilize the profit, whether you want to save it or reinvest and expand your micro business. Make sure that the quality of the product is never compromised and that your customers are happy, ensuring customer retention. Assistance for Micro Entrepreneurs Micro entrepreneurs in the U.S. are in need of training and skill development workshops as well as help in utilizing technology to help run their business. Some micro entrepreneurs need access to easily available funds for startup and growth. In order to encourage more people to become micro entrepreneurs, state, federal, and private sectors should make available ample funding for such enterprises. With a little effort, you can find firms that sell their services as well as products to help run successful businesses. You can even seek professional help to arrange business credit for micro enterprises. [ad_2] Source by Alexander Gordon https://4awesome.streamstorecloud.com/micro-entrepreneurs/?feed_id=37247&_unique_id=6480d6a7eace0

Tuesday, May 23, 2023

Benefits of Working in the Skilled Trades

[ad_1] How useful is university education? The answer is simple, it is highly subjective. For most people it is just a degree that adorns their ego. For others it's a necessity. For another segment of people, it unnecessary and does not yield any positive results. With the population on a rise, getting a job becomes difficult for everyone, no matter what your education happens to be, jobs are scarce all across the world and field of interest. This is when a job in trades can save your day. The various advantages of being a skilled tradesman are: 1. Appreciation of skills: No matter how advanced the world gets, there always an appreciation for skilled labour. With increasing demand for skilled workers, the wage paid is also rising steadily. Skills are of interest in various industries like carpentry, plumbing etc. So, the very first advantage is that your skills are valued and you get paid for that. You might want to know what the best tradesman jobs are; the options are wide ranged starting with carpenters, tillers, to medical assistants and aviation technicians. 2. Early earning: You start earning early. It is often difficult for parents to bear your expenses after a certain period of time. Also, these days it is a trend to spend on luxury items. Neither can parents afford it, nor do they want to. Working as a skilled tradesman will help you earn your own money for a living or for that expensive video game, at an early age. You do not to plead for money, you can work, gain experience and earn. Isn't that wonderful? 3. Career first: Bearing expenses for further education is not a convenient option for many. Whether you to study or not, a job in skilled trades is going to help you both way. If you work as an apprentice, part-time, you can earn money and save it up for further education. If not, you can start a career in trades by ditching the unnecessary waste of both time and money behind further education and earn a living. 4. Job satisfaction - If creativity is your passion, working on trades can certainly give you peace of mind and money both. In this field you will find the best use for your skills. You will be respected for your skills and at the same time, you'll earn money. Indulging in your skills can make you more passionate and help you feel better. This is the key to job satisfaction. 5. No boredom: Another benefit is that, you'll never get bored. There's always a different option if one doesn't fit you. The world changing its necessities every day, a new trade is being planted on a regular basis. So for all those fickle minded people, trades are where you can belong. It'll never bore you. If you want to know about the best tradesman jobs, you'll be happy to hear these options -tilers, boiler makers, construction equipment operators, marine mechanics and lots more. To conclude with, a skilled tradesman is of great value to the society and country in general. There might not be the so-called 'job security ', but job satisfaction is guaranteed. In addition to money, it provides you with experience and exposure that will help you propel yourself towards your goals and dreams. [ad_2] Source by Mark Trescothic https://4awesome.streamstorecloud.com/benefits-of-working-in-the-skilled-trades/?feed_id=37026&_unique_id=646cc3890693e