Small Business
By Brian Miller A troubling job market, record breaking long term unemployment numbers, pay and benefit cuts and other factors have given rise to what we call the New Career Economy®, where people who have been unemployed for a long time and workers who are afraid of losing their jobs are turning to entrepreneurship to […]
Continue reading about Preventing startup failure even before you start up
In the last installment of this column I examined the reasons why so many promising small businesses fail within the first five years of operation. The first two reasons I discussed – undercapitalization and lack of knowledge/business experience – are just the tip of the iceberg. My experience in working closely with small business owners […]
Continue reading about Reasons for business failure – part 2 By Dr. Mike Stull
If you ask 10 entrepreneurs or experts across the room, you may get 10 different and very valid responses to the question – how can an entrepreneur avoid failure? I believe there are two primary precautions an entrepreneur can practice to reduce the risk of his startup’s failure… First, I see many entrepreneurs fail only […]
FeeFighters participated in a summer incubator program called Excelerate which took place in Chicago. The experience was invaluable on three important levels: meeting mentors, learning from classes, and being in a fun environment with other startups. The first month was filled with mentor meetings. We met mentors who would greatly influence our business, whether it […]
Continue reading about Excelerate: A Startup’s Summer Incubator Experience
New businesses often risk shooting themselves in the foot as they’re getting started. It’s not easy to be an entrepreneur. Not only are you getting your business up and running, your operations solidified, and your marketing strategy off the ground, but you are also trying to make sure you’re managing your business properly and minimizing […]
Dr. Mike Stull – CSUSB According to the US Small Business Administration (SBA), approximately 50% of businesses fail within the first five years of operation. What could be driving such a staggering number? My experience working with hundreds of business owners and business consultants over the last 12 years suggests that many business fail for […]
Continue reading about Reasons for business failure By Dr. Mike Stull
Joju Mangalam US workforce is rapidly changing due to the aging of baby boomers. The first wave of baby boomers has already hit the retirement age and the next waves will be doing so constantly for the next twenty years (till about 2030). Meanwhile, all signs indicate that upcoming generations are not fully trained or educated […]
Depending on which industry you’ve chosen, the odds that your startup venture will fail within ten years are estimated to be between 65% and 85%, leaving you with pre-estimated success rate of 15% to 35%. And even then, these statistics depend on your definition of success. But you already knew that. What you might not […]
The current economy is creating many “accidental” entrepreneurs. For some people, this is the push they’ve needed to pursue the dream of setting up their own company. But, whether you’re an accidental or on-purpose entrepreneur, moving ahead without enough information can lead to some big mistakes early on. Besides potentially being costly, these mistakes can […]
Continue reading about How to prevent a Startup Failure by Beth Andrus
Despite the tough economy, or maybe because of it, many people have decided to start their own business. History tells us that most of these businesses will fail within a few years. Here’s how to avoid becoming another statistic. Plan Ahead No matter what your idea is, you need a plan. Every business has customers, […]