This week’s top stories include small business advice covering the following four topics:
- What I Learned From Seeing My Business Fail
- How to Project Confidence as an Entrepreneur
- Help Is Available For Military Veterans To Become Great Entrepreneurs
- Selling Your Business? 7 Founder-Recommended Best Practices to Follow
Each week we scour all the top business-related magazines and newspapers for articles with the best advice for the small business owner, so you do not have to.
What I Learned From Seeing My Business Fail
By: Charlotte Cowles
It’s pretty common for a small business to fall on its face. According to data from the Bureau of Labor Statistics, only about half of small businesses survive longer than five years. And while most entrepreneurs don’t jump at the chance to relive their past failures, others attribute their subsequent victories to what they learned from their setbacks. Here, three successful small-business owners talk about their previous ventures that didn’t work out, and how they bounced back.
Related Post: Business Failure: Your Path to Success & Wealth
How to Project Confidence as an Entrepreneur
By: Timothy Carter
Skills, knowledge and experience all come into play when you’re defining yourself as an entrepreneur and growing your company. But you also need to think about your image. In your personal brand, in meetings with clients, in pitches to investors and even when talking to your team, you’ll need to learn how to project confidence if you’re going to succeed.
But how exactly can you do it?
Related Post: How to Overcome Your Fears – Lessons From Dale Carnegie
Help Is Available For Military Veterans To Become Great Entrepreneurs
By: Rohit Arora
As we remember the fallen members of the military who have fought America on Memorial Day, it also is a reminder to honor the veterans who are still with us and have transitioned to civilian life. Roughly 10% of all businesses in this country are veteran-owned firms, according to the SBA. These firms employ about 5.8 million Americans, according to the U.S. Small Business Administration (SBA). In fact, some of the country’s best-known companies were founded by veterans, including FedEx, GoDaddy, RE/MAX, and Walmart.
The SBA reports that among the top industries for veteran-owned firms are finance and insurance; transportation and warehousing; mining, oil and gas; construction; professional services; and manufacturing.
Here are several sources of funding for veteran-owned firms,
Related Post: Do You Know Why Veterans Make Good Entrepreneurs?
Selling Your Business? 7 Founder-Recommended Best Practices to Follow
By: Young Entrepreneur Council
For many entrepreneurs, selling the company they built from the ground up is a lucrative opportunity that will set them up for retirement or their next business venture. However, a successful sale is not as simple as finding a buyer and signing some paperwork. There’s a lot of preparation and planning that goes into an acquisition, and any founder who wants to sell their company must be ready for that process.
Below, a group of entrepreneurs shared seven best practices founders should follow when they’re looking to sell their business. Follow their recommendations to ensure a smooth transition into the next phase of your career journey.
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