The collapse of a business or industry does not have to be a crisis. It actually represents an opportunity for entrepreneurs with vision who can act quickly
If you have the ability to act on new business opportunities during a bad economy, great fortunes may await you. It is time to work on that business idea.
This week’s top stories include small business advice covering the following four topics:
- 3 Myths of Entrepreneurship That Most Business Books Won't Tell You
- The Difference Between a Business Coach, a Mentor, & a Consultant
- Entrepreneur's Editor in Chief: "Coronavirus Will Make Us All Stronger"
- A 10-Point Small-Business Survival Plan for Dealing With the Coronavirus
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.
The old economy had limitations on shelf space and the ability to target niche markets and as a result, companies only invested in offerings that appealed to a very large population. Today we live in the Long-Tail Economy, where a business can target a very specific and often very small market segment for next to nothing and distribution bottlenecks are vanishing, making the offering of niche products and services not only possible but more desirable by consumers.
while the government may understand the importance of small business in the overall economy, its definition often differs from the way most entrepreneurs may define them. As a result, the methods in which the government can inject money are primarily limited to guaranteeing loans and creating projects for a narrow slice of the business community.
In the old days, companies would do extensive research to try to predict what the market would buy. Once they felt that they had a good idea about what would sell and how much of it they would need, they would build a product line to produce it and develop a strategy to deliver it. […]
When the seller makes the decision to sell his business, time is often his worst enemy. Many things outside of the seller’s control can often negatively effect the value of the business. For example, changes in the industry can make elements of the business obsolete. The interest rate hikes by lenders can make your business […]
The next and final environmental forces block is “Macroeconomic Forces.” This section is used to determine if your business model can adjust to macroeconomic shifts. This is where keeping up with current events is important. In addition to watching the world and local news programs each day, I use an internet news aggregator that searches […]
As the federal government grows, it creates incredible drag in the economy. Federal agencies were initially enacted to protect the consumer from bad actors but has expanded its reach to protect the consumer from the consumer. Each time some undesirable event occurs, it creates an imperative to create yet another federal agency. Once created, these […]
We all know that schools exist to teach our kids. However, what they teach may not be what you think. The first schools in America were created in New England and primarily taught religion. However, while schools have evolved to teach reading, writing, math, and science, they still teach values to our children. Classrooms have […]