The Blog

Why is it important for entrepreneurs to choose a field that they will enjoy? PASSION IS MISLEADING CHOOSE PROFITABLE Don’t let passion fool you as it is an entrepreneur's mistress. I love golf it does not mean I start a driving range or golf course. The point is to...

How much equity should I give up in a startup? As little as possible because it is a limited resource and the tendency is to give too much away too fast. No matter how much you give away make sure you don't give away your power as the founder. You can give a 50/50...

What are the objectives of marketing? 7 KEY OBJECTIVES IN YOUR MARKETING PLAN Traffic Customer acquisition Expand demographics Launch a new product/service Promote a sale Reinforce your USP Build your brand Note: Your marketing plan does not have to be just for your...

How do you tailor your product to the market and not the other way around? Creating a product the marketplace wants is your goal and too often startups create a product and ASSUME the marketplace will want it. TAILORING YOUR PRODUCT TO THE MARKET Beta test your...

How do you write an elevator pitch for a product? THE PERFECT ELEVATOR PITCH What is the big problem your product solves? What makes your solution unique? Who is the big market that wants this? What are the financial projections for this product? Why are you the...

What are the possible effects if there is no business planning? It is hard to hit a target you don’t set and business planning determines goals with the tasks and initiatives that need to be met to achieve the goal. Every company should set some strategic/growth goals...

How do you prepare a strategic planning session? HOW TO HAVE STRATEGIC PLANNING SESSIONS Have ONE singular objective/outcome you want from this meeting Have smart, helpful people in the meeting Collaboration is critical so encourage ideas from the group Accountability...

How are school dropouts becoming more successful in their business life? Let’s change the phrasing from dropouts to those who choose not to pursue a college degree because they are taking action NOW on their dream. 7 BEST PIECES OF ADVICE FOR THOSE NOT GOING TO...

What should I include in a business plan of a franchise? Many items in a traditional business plan will be provided by your franchise such as competition information, marketing, and what you will need to open and operate. What I would focus on is whether buying a...

What question do you have about how to get along with your co-founder? HOW TO MAKE A BUSINESS PARTNERSHIP WORK You and your co-founder are married in business so it's a long term commitment. Remember why you partnered in the first place. Reignite the passion you had...