Here’s our weekly link roundup of small business buzz, musings and muchness. A curation of the best small business talk around the web.
Most people who have ever been employed by someone else have entertained thoughts of starting and owning their own business. They may see successful entrepreneurs and business owners living the ‘good life’ and wonder, “Why can’t that be me?” The potential rewards of business ownership are many, but so are the challenges. Entrepreneurship is not for everyone, and is definitely not for the faint of heart.
Technology and business have shaped a lot in today’s market and has give many entrepreneurs in India to delve into various kinds of startups and not just limit oneself on building a strong technology product or just create a business that is strongly focused on services. But many times an entrepreneur has to decide what’s right for him? This article takes a look at some of the pros and cons of each and how you can decide what’s best for you and what are you cut out for.
The advice that I always give is to keep business and personal expenses separate. Establishing a business credit card and paying it off in a timely manner is a solid business practice and helps improve credit ratings if you need financing. Additionally, this practice makes for tidier accounting at the end of the year.
Not enough entrepreneurs and small businesses really know how to export. The Internet has been a game changer for anyone who wants to do business internationally. How do you reach customers? What do you do as a small business owner to have the world find you? Once you find those customers, how do you get paid? Once you get paid, how do you get the merchandise or the service in the hands of a potential customer?
For business owners who want to provide insurance to their employees, things just got tougher – at least for those who are in the 36 states that rely on HealthCare.gov. The SHOP (Small Business Health Option Program) online marketplace will be delayed for a year (November 2014). Yet business owners can still participate, but so long as they call a broker, agent or health insurer.
I think we’ve all witnessed the inevitable disaster that awaits those who are surrounded by yes-men. Oh, you’ve seen them – the athlete, the rockstar or even politician. Every so often hearing a firm “no”, is quite healthy for their growth. While this lesson in humility plays out, most of us find a secret sense of satisfaction when the entitled are finally put in their place.
Entrepreneurship is described as a “challenging but potentially rewarding,” career path. In an Orwellian style, we use words like “struggle” and “hustle” to describe magical entrepreneurial traits that, in fact, mask more serious and complicated stigmas like depression. In fact, over the last 18 months, the technology industry has seen a number of high-profile suicides, with few individuals willing to talk about it. Why?
The career path of an entrepreneur can be exceptionally rewarding but also incredibly difficult, bearing full responsibility for the consequences of success– and failure. Thankfully, the road is well travelled and many have developed the knowledge and wisdom to find the success sweet spot. Business Insider asked some of Australia’s successful entrepreneurs about most valuable life lessons they’ve learnt along the way.
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