The Blog
3 Steps to Learning Business
Where can I start to understand business? 3 SIMPLE STEPS TO LEARNING BUSINESS SO YOU CAN START A BUSINESS I would get a job in an industry you like so you can learn how it operates and once you have the job I would ask questions endlessly to people higher up than you....
Seek to Out-market Your Competitors
How could I completely destroy a competitor's business so my own can take its place? I don’t like this mindset that you destroy. How about just being better than your competition and marketing this competitive advantage? The idea that you're not going to have...
Protecting Yourself and Your Business
What steps would you recommend I take to protect myself before establishing my business? PROTECTING YOURSELF AND YOUR BUSINESS THE BIG 3 that I believe are nonnegotiable when protecting yourself and your business are. Incorporate Licensing Requirements (if needed)...
Running a Small Business Without a Partner
What are some ways to make running a small business by yourself more manageable without getting a partner? There is no reason to have a partner if you don’t want or more importantly need one. So if you have no need for more labor (someone working with you and doing...
Steps to Become a Successful Business Owner
What steps can I take to be a successful business owner? Work on developing the habits of highly successful people and starting with reading 2 books that changed my life: 7 Habits of Highly Effective People and Think and Grow Rich. I have learned to bet on the person...
Service Business Examples
What are some examples of a service business? Too many to count but let's look at things that require service and you should find a hundred easy. Automobile (detailing, service work, transmission, mufflers, brakes, bodywork, etc.) Home Services (gutter cleaning, power...
When a New Partner Joins
What happens when a new partner joins a partnership? One more voice in every decision making discussion and profit is shared with one additional person. But if this person is a superstar these are small prices to pay for a great partner.
EIDL Loans
Are EIDL loans good terms for businesses? The best loan terms I have ever seen. Deferred for a year and then paid back over 30 years with low interest. GET ALL YOU CAN!
Why Entrepreneurs Fail
What are the three main reason for start up ventures to fail? Why Entrepreneurs Fail They fall in love with their idea and don’t allow it to be tested. They don’t have the personal qualities of a successful person. (initiative, determination, focus, relentless...
Unsecured Loans
Why are unsecured loans such a bad idea? It is not the best loan. Normally you only do an unsecured loan to a family member or friend fully aware you may not get the money back.
Paying Yourself as the Startup Owner
How do we pay ourselves as a startup owner? A very simple rule of when the founder gets paid in a startup. “Last and only after it is profitable.” And how? I recommend if you live in the U.S. to take a standard paycheck with taxes taken out so you don’t get in tax...
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