Essentials for Getting a Business Loan

To start or grow any business, you’ll need funding and most businesses are funded through three sources: personal savings, loans from friends & family and commercial loans from banks. If you’ve already tapped through the personal savings and the friends and family, it’ time to get ready for that first commercial loan. And like any project, preparation is half the …

Immigrant Entrepreneurs Help Fuel Record Growth Streak

By Maria Contreras-Sweet If the U.S. jobs data released on the first Friday of every month is starting to sound like a broken record, it’s because records continue to be broken. The American economy added 267,000 private-sector jobs in January. That’s 59 straight months of consecutive job growth, the longest streak on record by a mile. Our last three months …

Are All Your Customers Created Equal?

“The customer is always right.” “We have to take care of the customer no matter what.” “The customer focused business is a successful business.” We’ve all heard or probably said those things. Have you ever had a customer that you were always happy to see and were happy to see you? Your transactions always went well, were profitable and they …

Good Habits for Your Business

Scientists studying habits in people have noticed some interesting things. If a person repeats a behavior over the course of 3-4 weeks the behavior becomes ingrained as a habit. While we form habits somewhat unconsciously in most instances, there is usually a loop of cue, behavior and reward. Something as simple as brushing one’s teeth in the morning are habit: …

3 Rules for Smart Business Growth

Entrepreneurs are optimists. Otherwise, why take the risk to go into business? The downside: when the entrepreneur is planning her business, the optimism translates into the classic “hockey stick” explosive growth that few businesses can hope to achieve. Growing a business takes discipline and planning. And, planning is not done when the business plan is written. Plans are revised and …

Immigrant Entrepreneurs: Vital for American Innovation

By Yatin Mundkur Open borders brought Andrew Carnegie and Andy Grove to the U.S. They also brought Madeleine Albright and Henry Kissinger, a slew of German theoretical physicists to work on the Manhattan Project, and countless investors and entrepreneurs, including me. Immigrants to the U.S. have been transforming the industrial geography and the technology landscape since the 1860s when Scottish-born …

Estimating Startup Costs

If you are planning to start a business, it is critical to determine your budgetary needs. Since every business is different, and has its own specific cash needs at different stages of development, there is no universal method for estimating your startup costs. Some businesses can be started on a smaller budget, while others may require considerable investment in inventory …

Is Entrepreneurship For You?

Starting your own business can be an exciting and rewarding experience. It can offer numerous advantages such as being your own boss, setting your own schedule and making a living doing something you enjoy. But, becoming a successful entrepreneur requires thorough planning, creativity and hard work. Consider whether you have the following characteristics and skills commonly associated with successful entrepreneurs: …

Three Strategies to Make an Entrepreneurial City

By Greg Fischer and Dane Stangler Urban vibrancy doesn’t only happen through grand projects or planned spaces. It happens through moments like one we recently witnessed on a vacant lot in downtown Louisville, KY. There, in the city’s Bourbon District, food trucks served a crowd milling around the MakerMobile, a tinkering shop on wheels. Inside this trailer, a 3D printer …

Can a Growing, Profitable Company Go Bankrupt?

The goal of every business leader is to grow the business or organization. Right? Sales solve all problems. Right? If I could just increase sales by 10% or just find that next big contract all my problems would be solved. Right? Well, maybe. What many business leaders fail to consider when celebrating that next big contract is the cost to …