With over 23 million of them in the U.S. alone, small businesses have become big business. And technology is making them competitive with larger, more established companies.
Think about how different people work today as opposed to ten years ago. IT costs to set up a domain and server? Gone. Now you can use your smartphone to access your email, share documents, videoconference, access your calendar and much more. And with mobile and virtual solutions, small businesses can operate from anywhere in the world, professionally and efficiently.
Mobility Is A Game Changer
Next time you’re in public, look around you. Notice how many people are either using their handheld device or a tablet. Sure they could be texting a friend or playing Candy Crush, but many of them are working. Those handheld computers are allowing small business owners to not only work on the go, but do more and spend less—especially if they take advantage of the plethora of available business apps. Read more...
Running your own small firm or solo law practice isn’t easy. You must constantly increase your client base, work to stay current with practices in your area and learn marketing skills — all in addition to running a business. It’s time-consuming and uncertain. But there are plenty of positives, too—like being your own boss. Fortunately, resources are available to help you meet these top seven challenges.
1. Modest Salaries
Especially in the beginning, small firms offer smaller salaries than larger firms. But the almighty dollar isn’t the driving force for many attorneys. Just like in other professions, some people put themselves through school, incur large student loans and work long hours because they love what they do and enjoy helping people. Keep this in mind when you’re working long hours to build your business. Read more...
Here’s a daunting fact: While more than 500,000 small businesses will launch this month, just as many will fold because they can’t meet overhead costs. Sure, there are factors beyond an owner’s control, like the economy and unforeseen industry changes, but successful small businesses find ways to pinch pennies, adopt wise practices and discover new innovations that save money.
Here are six suggestions:
It isn’t just for bank statements anymore.Paperless options are enhancing how people run their business. For example: Read more...
If contracts are part of your business, companies like Docusign have e-signing services that make documents easy to complete from thousands of miles away, saving time and shipping costs.
Need to get hardcopy documents into your employees’, partners’ and client’s hands? Professional scanning companies can turn around large volume of documents in one day by converting them into CD-ROMS, DVDs or simple emails and integrating them with any software system you choose.
As an entrepreneur myself, I understand the power of testimony. So when I see a fellow entrepreneur find success, it’s inspiring.
I was reading about an unlikely entrepreneur this morning whose story I’d like to share. His name is Henry Miller and he’s only 14 years old.
The story begins when Miller visited The Georgia Sea Turtle Center during summer break. Like lots of kids his age, Miller had fun, took pictures and learned sea turtles don’t lay eggs until they’re 30 or 35. For most teens that would have been the end of it, but not for Miller. It seems this teenager is a natural born entrepreneur and activist.
Indeed, Miller has a track record for launching entrepreneurial ventures that he uses to support his pet causes. For example, when Miller was just 11 years old he learned about Colony Collapse Disorder and started his own business donating part to The Foundation for the Preservation of Honey Bees. He reminds, “You know we’ll only last seven years once bees are gone.” Read more...
Need a little entrepreneurial inspiration? Katalina Pinkney offers plenty.
In many ways, Pinkney is your typical teenage California girl. Typical, that is, if she wasn’t the Chief Executive Officer of a wildly successful skin care product company.
Pinkney founded Tahiti Waheennee. The company produces and wholesales skin care products to hundreds of retailers across the U.S. and in Canada. Her success is no accident. She had a strong entrepreneurial pull to build a company while still in high school—and that determination drove her to success.
“I wanted to build a successful business that creates great products, jobs and ultimately does good things for other people,” says Pinkney. “My generation is learning lessons from watching the older generations and the fallout from the global recession. Read more...
There’s been plenty said about how hard it is for small businesses to get loans. How about entrepreneurs raising capital? Lucky for you, we ran across an article in Forbes and Entrepreneur magazine today that offers a decent list of creative ideas.
You can check out the entire article for yourself, but here are some ideas from Forbes to get the creative funding juices flowing:
Partnering with another company through a research and development limited partnership
Applying for government grants
Obtaining venture capital funds
Using public or private equity placement
Seeking out angel investors (private business investors)
Here are some more funding tips from Entrepreneur magazine. These specifically relate to getting funding from friends and family, also known as angel investors: Read more...