The Process of Ideation – The Creation of Ideas

The generation of new ideas or the creation of business ideas is one of the challenges that aspiring entrepreneurs face throughout their entrepreneurial journey. Many believe that the creation of ideas is an innate ability. There may be some truth in it, however the process of ideation can also be learned. Entrepreneurs are idea farmers. In order for them to harvest these ideas they need to plant seeds of ideas, then water and feed them and hope that some of them will grow. Jeff Hoffman, CEO of Priceline, shared his…

Ten Golden Rules for an Entrepreneur

Rule 1: No vision, no Entrepreneur. Without a vision you are wasting your time as an Entrepreneur. You need to visualize your enterprise and all the steps necessary to get there. You need to set goals and milestones. Mentally you need to take one step at a time and think it through. In real life it will be to your benefit to set up a prototype. In your prototype set your vision and goals and results. If it works in your prototype changes are that it will work in your…

Mobile Software Monetization Models

Rolling a mobile app out on the market isn't an easy thing to do. One of the absolutely inevitable and important decisions is the monetization model (or several models combined). Here you define how your mobile software will bring profits. That must be done long before development, and the decision depends on many factors, including the essence of the app itself, its individual features. And of course, take into account the fact that the majority of mobile app users aren't quite willing to pay – everyone would surely choose a…

The Benefits of Forming a Delaware LLC

If you've been thinking about incorporating your business for some time, you might have heard in passing that it's a good idea to form an LLC in Delaware, versus your state of residency. More than 60% of Fortune 500 companies incorporated in Delaware, but why? The answer is Delaware provides a number of benefits, including tax savings and business-friendly laws. Here are some benefits to forming a Delaware LLC you can consider. Tax Benefits of a Delaware LLC When you choose to incorporate in Delaware, keep in mind the state…

4 Pricing Mistakes You Should Avoid – And Why

Most entrepreneurs I work with come to me with grandiose ideas about building a highly profitable business, but lack the confidence to charge what they deserve in order to reach that end. If they raise their rates, they fear rejection and that they will scare prospects away. But the truth is that there is a direct correlation between the rates you charge and the perceived value of your services. If your rates are too low, more of your prospects will interpret that to mean lower value and will steer away.…

One Smart Business Plan Consulting Method

Every experienced entrepreneur knows that her business plan needs to be captivating, winning, attractive: basically, the next best thing since sliced ​​bread. Sadly enough, according to recent statistics, 9 out of 10 start ups fail. Brad sits down with Shachar Tal, a successful entrepreneur from the start up nation, who agreed to explain what exactly he is looking for, when examining a business plan. B: Shachar, you put a lot of emphasis on peer entrepreneur review. Why is it so important to let another entrepreneur look at your business plan?…

The Three Most Common Misconceptions About SBA 504 Loan Workouts

Here is a quick synopsis of the SBA 504 loan: 1) There is a “regular” commercial loan in 1st lien position that is made by a bank, and finances 50% of the project cost. This loan does NOT have an SBA guarantee, but the lender who is in 1st position is in a very strong collateral position (1st lien and a 50% loan-to-value at loan inception). 2) The SBA loan (originated through a CDC, or Community Development Corporation) is always in a 2nd lien position, and typically finances 40% of…

Starting a New Business, The Idea

Finding an idea, which proves to be the right idea for you, is often one of the most significant obstacles to overcome. In fact in my experience this is probably where most get stuck, and never get past. Even more often we tend to get disheartened by the lack of that one multi-million dollar idea, that will get us the financial independence that we see the wealthy has, that we do not. The reality is that we all have the ability, we just have to find it within ourselves. On…

Starting Your Business With a Small Budget

One of the most common questions asked by an aspiring mompreneur is “how much will it cost to get started and run my business?” Especially for someone who is already at home on a limited budget. It's a very difficult question to answer. Generally speaking, I explain to women that having a business will require that you move through the necessary discomfort that arises from being an entrepreneur. It doesnt have to be drastic but it will require you to make some level of investment. One of the easiest ways…

Guide To Network Marketing

Effective network marketing is a must for success in virtually all industries requiring an extensive network of professional and personal contacts. But building your own extensive network of contacts can be such a challenge especially in an ultra-competitive industry or in a situation where ultra-successful individuals are involved. Fortunately, becoming a great networker is possible! Just keep in mind these steps and you are well on your way to becoming a whiz at network and business marketing. Have Goals, Have Fun Before going to an appointment or attending a networking…