This week’s top stories include small business advice covering the following four topics:
- 9 Highly Successful Entrepreneurs Reveal the Biggest Startup Mistakes and How to Avoid Them
- Which Franchise is Right For You? Follow These Steps
- Creating Your Entrepreneurial Edge: How to Turn Adversity into Advantage
- What Types Of Small Businesses Receive The Most Funding?
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.
9 Highly Successful Entrepreneurs Reveal the Biggest Startup Mistakes and How to Avoid Them
By: The Oracles
What separates the entrepreneurs who make it from those who don’t? These successful business founders and Advisors in The Oracles share the most common mistakes they see from aspiring entrepreneurs and explain how to overcome those mistakes. Here’s why some will never make it — and how you can.
Which Franchise is Right For You? Follow These Steps
By: Mark Siebert
When a couple I know, Mark and Andrea, decided to give franchising a try, they knew a few things for sure. First, they wanted something that made use of their experience working for Fortune 500 companies. They wanted something that wasn’t a fad. They didn’t want to make too large of an initial investment. And, finally, they wanted a company that took a unique approach in its marketplace — something that offered an established product in a new, more efficient way.
They spent months researching options, then zeroed in on a mobile flooring concept that ticked all their boxes. Before pulling the trigger, however, they spoke with more than 20 different franchisees to find out what it was really like being a part of the company. Only then did they buy in — and not surprisingly, their business succeeded.
As someone who deals with franchises all the time, I think they did everything right. But I’m surprised at how many people do it wrong.
Related Post: How Do I Research a Franchise Investment?
Creating Your Entrepreneurial Edge: How to Turn Adversity into Advantage
By: Susan Johnston Taylor
Harvard Business School professor Laura Huang spent a decade studying interpersonal relationships and implicit bias in entrepreneurship. The former investment banker and consultant noticed that it wasn’t always the hardest workers who got ahead. Often, it was those who had inherent advantages or figured out how to create advantages for themselves.
That realization inspired Huang’s new book, “Edge: Turning Adversity into Advantage,” which explores how entrepreneurs can break through obstacles by reshaping perceptions.
We caught up with Huang to find out more.
Related Post: How To Turn A Business Negative And Make It Positive
What Types Of Small Businesses Receive The Most Funding?
By: Jared Hecht
If you’re starting a small business, chances are good that at some point you’re going to need to seek outside funding.
For nascent businesses, that might mean a small loan from your family or friends, but as your business continues to grow, you may have to explore the possibility of larger financing solutions from a bank or alternative lender. In fact, nearly half of all small businesses applied for a loan last year.
Related Post: Advice About Debt Funding (Loans)
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