A bootstrapped business is one that is built without any outside financial help. Unfortunately, this leaves little room for error . . . yet new business owners are prone to making mistakes. Here, we will examine some of the biggest mistakes that could torpedo your business before it gets off to a good start. Some of the mistakes new business owners should be wary of: Buying New Equipment If you’re … More »How NOT to boostrap your business
Here is a presentation I recently gave at at the Founder Showcase in San Francisco. For … More »Raising Venture Capital
While trade shows have become a standard in the world of sales and product development, … More »When trade shows are essential
Are you fulfilling your passion with your day job? Scott Dinsmore shows you how start raking in extra money ASAP. More »10 ways to make money from your passion ASAP
A bootstrapped business is one that is built without any outside financial help. Unfortunately, this leaves little room for error . . . yet new business owners are prone to making mistakes. Here, we will examine some of the biggest mistakes that could torpedo your business before it gets off to a good start. Some of the mistakes new business owners should be wary of: Buying New Equipment If you’re short on money, “new” is the last thing you should be looking for. Instead, scour the classifieds f More »How NOT to boostrap your business
Here is a presentation I recently gave at at the Founder Showcase in San Francisco. For a full list of my posts about raising money you can visit: http://www.bothsidesofthetable.com/category/raising-venture-capital/ and read more of my thoughts about start-up life, fundraising and running a business at my blog BothSidesoftheTable.com Here are some of my other presentations on Docstoc http://www.docstoc.com/docs/69286554/Things-I-Effed-Up-at-my-First- Company More »Raising Venture Capital
Working from home sounds like everyone’s dream, but most people never make it happen. They just don’t know where to start. It’s not nearly as difficult as you might imagine to start your own home business, but it does require organization and tenacity. If you are willing to put in the hard work, you can make it happen yourself. Setting up your business at home can be a great idea for many reasons. It allows you to save money on rent and utilities, as well as giving you more freedom in your sche More »How to start a home-based business
It’s very difficult to get where you want to go if you don’t have a plan in mind. A business plan helps you formalize your goals and makes it easy to check on your progress as the business grows, as well as ensures that you have something to show to banks or potential investors to prove that you know what you’re doing. A business without a business plan is not going to get very far. While it is certainly possible to reach success without one, a business plan is helpful in reaching your goals in More »Creating a Business Plan
Ready to take the plunge and start a business? Congratulations. Be aware of what you’re getting into before you spend time and money. You have a great idea, and you are ready to start selling it. But before you jump in, take a step back and review this checklist to ensure that you have done the proper research and planning for your new business. Otherwise, you might be headed to the small business graveyard, similar to 50% of small businesses in their first five years of operation (SBA). 1. Why More »7 questions to answer before you start a business
Open for Business! This phrase has a nice ring to it...doesn’t it? But, how do you get ready to start your business? Here’s a checklist to get started. Every business starts with a kernel...a nub...a gem of an idea. It could be something simple or complex. Perhaps it is a new drug, or an invention, or a new service that you want to be the start of a business. With your idea in hand, get ready for the real work to begin. Getting Started 1. After the initial ideas phase, what follows is the brains More »10 Essentials for getting your business off the ground
While trade shows have become a standard in the world of sales and product development, you might still be on the fence about whether this is the right idea for marketing your product. There are a number of reasons that you should use trade shows to exhibit your products. Once you are familiar with these reasons you might wonder why you were hesitant in the first place. Exposure Exhibiting your product at a trade show doesn’t just give you exposure. It gives you exposure to the right people. Tra More »When trade shows are essential
Overestimating or underestimating the value of your company can make it difficult to get the right amount of funding or the right price when selling your business. Whether you want to sell your business or bring in outside investors, it’s important to know what the valuation of your business is. There are a few different formulas business owners use, but you’ll mainly be looking at the following: Value of Liquidation: if you were to sell all your assets, what would they be worth? Value of Assets More »Valuing my business
Sometimes it seems like borrowing money from your friends or family is the only option to fund your business. If it is, weigh the benefits and drawbacks before stepping into the situation that can affect your relationship. Often, the biggest supporters of your small business are your friends and family. Naturally, you might consider asking them for a loan before going to a bank. But is it a good idea? Pros: Where Else Will You Find Such a Lenient Lender? If your relationship with the person offe More »Loans from Friefriends and family: pros and cons
The right business consultant can take a good company and make it great by implementing or suggesting various changes. Nevertheless, it is extremely important to choose the right consultant. There are certain qualities that every good business consultant should possess. Confident Most successful business consultants have been working in the industry for over 20 years. It is only someone with this much experience that can bring in the confidence from a number of different successful business vent More »Six C’s Of A Good Business Consultant
The right location can make or break a business. Learn how to look for the right location. The location of your business can be just as important as what you sell and how you market it. No matter what business you are in there are some routine things to consider for figuring out the best place to host your business. Following these guidelines will help you to make the best business decision. Geography There are a number of things to consider when choosing the geographic location of your business More »Choosing the best business location
When deciding to incorporate the first decision is what type of corporation to form. If you are self-employed you are likely hemorrhaging money on taxes by not being incorporated. For small proprietors it is hard to know which is the better option -- S-Corp or Limited Liability Corporation. Considering the pros and cons of both will help you make the best decision for you and your business. Features of an S-Corp S-Corporations have the benefit of single taxation, meaning that only dividends are More »S corp or LLC?
Deciding whether or not to buy an existing business or start your own comes down to three things: what experience you have, what kind of business you want, and how open you are to taking financial risks. Once you decide these things you can make a decision on how to proceed. • How much experience do you have? There is much more risk involved with starting your own business versus buying your own. Michael Gerber, author of The E-Myth Revisited, estimates that 40 percent of new businesses fa More »Buy an existing business or start your own?
Not all states are equal when it comes to creating a business, but a partnership comes with easier regulations, making it less important where you register. Fortunately, the laws for setting up a partnership do not vary as much as they do when it comes to corporations, so it isn’t nearly as important to choose the right place when setting up a partnership. You may find some slight variances from state to state, but in general, it’s easiest to set up your company in the state where it will do mos More »Picking the best state to set up a partnership
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