You’ve launched your business, proven your products and services and have celebrated several solid years. Remember how stress-fully exciting it was when you launched your business? As the founder, you had your hands full and had to oversee every aspect of your business from sales to janitorial!
After celebrating success at that level, continued growth can be tough. To do so, it’s important to start to prepare yourself and your budding company for growth. Without careful preparation, it can lead to serious burnout, extended growth plateaus and sometimes financial distress.
For the past nine years, Angela Pike ran a successful personal chef business that sent her into the homes of clients that craved her culinary skills on a daily or weekly basis. Towards the end of 2018, she experienced a series of health scares and events that made her realize she was most definitely putting her client’s needs before her own. Chef Angela was diagnosed with Celiac Disease.
Filed on January 29th, by Representative Richard Heath during this year’s general session, this new law took effect on July 14, 2018. The bill changed Kentucky cottage food law to classify home-based processors as an person who “produces or processes whole fruit and vegetables, mixed-greens, jams, jellies, sweet sorghum syrups, preserves, fruit butter, bread, fruit pies, cakes, or cookies” our of his or her home.
Why is it that most businesses (even ones with business plans) don’t get the funding they need? They are missing a crucial ingredient: Solid Market Research
Before financing any business endeavor, whether you’re considering opening a business, launching a new product, adding a location or buying assets, market research and validation is key to your project’s success. Market research involves finding out everything you can about your proposed business and product/service, the industry and your target market.
You've probably heard of the new kind of corporation that's using business as a force for good. NPR, The New York Times, Entrepreneur Magazine, Fortune, the Atlantic Monthly and many other major media outlets have covered these Benefit (B) Corporations.
Yet, even with all of the media coverage, many consumers and even investors still wonder what sets B Corps apart from other businesses, how much difference B Corps make and whether it's possible to make a profit while doing what's right.
Owning a business is a constant state of flux. There are changes within the industry, the economy, the laws, and many other facets of business that can either help a business to succeed or cause it to fail.
One thing for sure is that if a business owner fails to remain informed so that he or she can manage these changes, he or she could endure some hefty penalties.
A solid elevator pitch is a vital tool that helps you to raise capital for a business opportunity. A good pitch creates interest. At its core, an elevator pitch is an intriguing one to two minute conversation (preferably one minute) that communicates the key features of the business opportunity.
Even if your product or service is the best around, you have competitors. That's because when it comes to making a purchase, a customer has several choices. Your competition isn't just the business across town that sells similar items or services as your business.
Just as we have personal New Year’s Resolutions, so should you for your business. Since January is the start of another year, I wanted to try to get the year off to a good start. So I asked several CEO’s of successful companies what they do in their businesses.