Entrepreneurship is a multifaceted world, with diverse opportunities and avenues for those with the vision, drive, creativity, and determination to bring their ideas to life. It’s commonly broken down into four categories: small business, scalable startup, large corporation, and social enterprise. Each type of entrepreneurship offers its own rewards, opportunities, and of course - challenges.
So, how do you know which one is the right one for you? Let's dive deeper into each of these types of entrepreneurship to help you figure out which one might be the best fit for your unique skill set and goals.
Unless you’re new here, you already know how we feel about small businesses. (We like ‘em. A lot.) They’re an integral part of our economy, often characterized by their local or niche focus and a commitment to serving the needs of their immediate community. Small business owners typically have more control over their...
A company is only as good as its team.
And a team is only as good as its leader.
Shitty leader = shitty team = shitty revenue = shitty growth. You see where we're going with this, right? While there might be some exceptions to this rule, the fact remains that if you want a strong team and a thriving company, you need to lead by example. A great leader gets shit done. They inspire people and motivate employees to reach their full potential.
Here are eight ways you, too, can be a more effective leader.
Actions speak louder than words. That means practicing what you preach, being honest, accountable, and not asking others to do what you're unwilling to do yourself. Set the tone for your team by exemplifying the qualities and behaviors you expect from them. Your employees will be inspired to step up their game when they see you stepping up yours.
We've recorded many episodes on the topic...
In the ever-evolving world of consumer behavior, small business owners face a continuous challenge in understanding how consumers want to learn about products. In fact, research shows that almost 90% of consumers view the experience the company provides as JUST AS important as the product or service they’re selling. That’s huge.
To thrive in a competitive market, it is vital for businesses to adapt and cater to the changing preferences of consumers. Here’s a look at some specific examples of how consumer learning has transformed, along with some actionable tips for small business owners to effectively promote their products or services with the customer experience in mind.
This first point is hardly surprising (but still worth addressing), and that is the significant shift in consumer behavior towards digital platforms. Consumers now turn to websites, social media, online reviews, and search engines to...
Being a business owner is like riding a roller coaster; there are plenty of exhilarating highs…and just as many stomach-churning lows. You’ll be having the time of your life one minute, and the next, you’ll think, WTF am I doing? You need a strong stomach, be willing to take risks, and accept that the whole thing might crash and burn.
Of course, that’s easier said than done. Because it’s one thing to TALK about hypothetical dollars used, resources exhausted, hours spent, and all the what-ifs and maybes.
It’s quite another thing to put all that talk into action.
But that’s what separates the Greats from the Really Greats. You think Elon, Bezos, or Jobs achieved what they did from pure dumb luck? Hardly. They took calculated risks. They were willing to push boundaries and redefine what is possible. And while your plans might not be as ambitious as starting your own aerospace or logistics company, you can still take a page...
Finding the right employees can be like a game of Where’s Waldo. Sometimes you’ll spot them right away, but more often than not, you’ll spend a maddening amount of time trying to see past a chaotic mass of nonsense and distractions.
While there’s no shortcut to building a team of A-players that embodies your company’s vision and values, there are certain strategies you can use to cut through the clutter. Today, we will look at five questions you should always ask, five questions you should never ask, and five questions to consider asking to help you locate the ideal candidates for your business.
"Good to the last drop."
"Snap! Crackle! Pop!"
"Taste the rainbow."
"Just Do It."
"Easy, breezy, beautiful…"
"You're in good hands."
If we were to put money on it, we'd wager you know exactly which companies we're talking about. Without mentioning names, your mind immediately went to the businesses they represent.
Creating a strong brand identity is critical for success in today's competitive business landscape. Everyone wants a piece of the same pie, but there are only so many slices to go around. If you don't want to go hungry (both physically and metaphorically), you've got to position yourself strategically within your industry to "secure your slice" and avoid being left behind.
A well-crafted slogan is an essential tool to help you reinforce your brand identity. It can help you capture the attention of your target audience and serve as a concise representation of your unique selling proposition, offerings,...
As a business owner, the decision to scale can be both exciting and nerve-wracking. To help you navigate this pivotal phase confidently, we've compiled a list of dos and don'ts.
Develop a Clear Strategy: This is not the time to take a page from the "Not all who wander are lost" Tolkien crew. If you leave this part to chance...you WILL be lost. Craft a well-defined scaling strategy that aligns with your long-term goals. Outline your target market, expansion plans, operational changes, and resource requirements. A roadmap ensures you stay on track and make informed decisions throughout the scaling process.
Invest in Infrastructure: You can't put lipstick on a pig and think it will stop smelling like shit. Build a solid foundation to support growth by investing in technology, processes, and systems. Scalable infrastructure allows your business to handle increased demand without compromising efficiency or customer satisfaction.
In the bustling world of entrepreneurship, it's easy to fall into the trap of doing everything yourself. As a business owner, you may be stretched thin from wearing multiple hats, juggling tasks, and having a never-ending to-do list. However, delegation is a powerful tool that can help you reclaim your time and sanity. By entrusting tasks to others, you can focus on your strengths and enhance your business skills.
But sometimes that’s easier said than done.
Picture this: you're the proud owner of a small business, and you've poured your heart and soul into it. You've painstakingly built your empire, from late-night brainstorming sessions to caffeinated power hours. But the thought of delegating gives you an uncomfortable tingle down your spine, doesn't it? You're not alone. There are three primary reasons many business owners struggle with delegation.
The classic perfectionist's dilemma. You've meticulously crafted...
Employee separation is probably one of the least fun tasks a business owner must do. It can be stressful, awkward, and downright unpleasant…especially if you've built any sort of relationship with them along the way. But this isn't a fraternity or a charity; this is business. And if you've got someone on the team not pulling their weight, there's no need to let him or her drag you and the rest of the group down.
First things first, let's talk about how to mitigate the risk of hiring a dud employee in the first place. (An ounce of prevention and all that, you know?)
As a small business owner, you're constantly juggling multiple tasks and wearing multiple hats to keep your business running smoothly. With limited resources and time, it's easy to get caught up in the day-to-day operations and neglect the bigger picture. However, taking the time to strategize and plan for the future is crucial for success.
Explore these five examples of how strategic planning can help our business.
It helps you clarify where you want to go:
Imagine taking a trip without a map, GPS, or destination. You’d probably end up wandering aimlessly and wasting time and resources. The same applies to your business. Without a clear strategy, you may make hasty decisions or get lost in the ever-changing market dynamics. Strategic planning helps you set clear goals, define your mission and vision, and identify the steps to get where you want to go.
It can help you maximize resources:
Small businesses often operate with limited...