Here’s our weekly link roundup of small business buzz, musings and muchness. A curation of the best small business talk around the web.
While it’s very easy to say that when startups are founded, there’s a lot of freedom, liberty and access in terms of work and building the product, technology or service that they offer, it is also important to realize that most startups fail because they don’t learn from their and others’ mistakes.
Incorporating or forming an LLC for your new company registers your business with the state and creates a legal entity for your business. Many business owners think they’re ready to set up shop after that, but there are other legalities to consider before moving forward like various permits and licenses.
Facebook has partnered on plans to build an apartment complex near its campus. Startup teams that live together aren’t uncommon, but the business perks of the arrangement may not scale to a public company.
In the retail world, getting a “charge-back” is like being hit with a triple whammy. You lose the sale revenue and the product that was bought or shipped, and you’re subject to fines. A charge-back occurs when a consumer disputes a charge and asks his credit card company to remove it from his bill. Charge-backs can’t be totally avoided, but experts say merchants can take steps to decrease them.
Q: I know my products well, but sales is something that doesn’t come naturally to me. What can you advise? A: Some people have doubts about their ability to generate sales. They may worry that they simply aren’t sales savvy, or associate selling with negative stereotypes often seen on TV. The truth is that selling is less onerous than you think. The keys are to plan, build your skills and practice – much like every other facet of becoming a small-business owner.
A key provision of the Affordable Care Act is going into effect as statewide insurance exchanges opened up around the country. But that’s just the latest in a series of changes to the U.S. health care system that will open up new opportunities for entrepreneurs.
You’d be surprised by how many business owners would rather stick their heads in the sand and not take advantage of basic online tools to grow their companies. Don’t be one of them. Ignorance is not bliss. Most people who hear 18th century British poet Thomas Gray’s famous line think he was celebrating ignorance. For the record, he wasn’t—he was reflecting on childhood, when not knowing stuff just comes with the territory.
Things change by the minute, and it’s your job to be flexible, think smart and move fast. It doesn’t matter if something is inconvenient, not what you planned or not on your to do list… A last-minute scramble for media coverage happens, but if you see a pattern, don’t be afraid to address the issue with your client or management team. They want the best results , so tell them why you need more lead time to earn meatier coverage.
Entrepreneurs have a lot on their plates. You have to juggle starting and building a new company, managing clients, training employees, handling finances, etc. Simply put, successful entrepreneurs have to manage a lot of tasks. Many feel they’re too busy for much of anything else, especially community involvement (which often takes up that precious commodity of time).
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