The Emotional Moment That Sparked a Winning Business Idea for This Entrepreneur

Everence co-founder and CEO Patrick Duffy details the growth of his tattoo and jewelry business from idea to final product. July 5, 2019 5 min read One of the most important questions that entrepreneurs need to ask themselves is this: Does my product solve a problem or fill a need for customers? Patrick Duffy saw a need — an emotional one — when he was working with wounded veterans and the families of fallen heroes. These people had a need to remember their loved ones and hold them close, and during a Scuba expedition, he saw a memorial tattoo on leg of a Gold Star mother and it sparked an idea: What if the ink in those tattoos were infused with the DNA of the person being remembered? Related: How to Come Up With Startup Business Ideas in the Digital Era From that moment the concept for Everence was born. Described by Duffy, who serves […]

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Learn This Fintech Entrepreneur’s 4-Step Process for Building a Better App

Adam Dell, founder and CEO of Clarity Money, outlines how his app caught the attention of Marcus by Goldman Sachs. July 2, 2019 5 min read In this ongoing series, we are sharing advice, tips and insights from real entrepreneurs who are out there doing business battle on a daily basis. (Answers have been edited and condensed for clarity.) Please explain Clarity Money in a nutshell. My name is Adam Dell, I’m the founder and CEO of Clarity Money, a free personal financial management app that uses data to give you a crystal-clear view into your real financial choices and an ability to take action to change the course of your financial life. Clarity Money was acquired by Goldman Sachs in April 2018 and is now part of the Marcus by Goldman Sachs® family.  Did you have a personal experience that led to its development? What was your “aha moment”? I had been […]

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These Music Innovators Are Shredding The Industry’s Obsession With The Past

July 2, 2019 8 min read In this ongoing series, we are sharing advice, tips and insights from real entrepreneurs who are out there doing business battle on a daily basis. (Answers have been edited and condensed for clarity.) Who are you and what’s your business? I am Ilja Krumins, Chief Guitar Officer at Gamechanger Audio. We are an independent company based in Riga, Latvia, and four of us started this thing three and a half years ago. We invent, build and sell innovative musical technologies and instruments. We always try to think way outside of the box to inspire a more imaginative approach in an industry, which I believe suffers from an obsession with the past. What is your signature product? We don’t put out a lot of different product. Rather, we invent and develop truly interesting things such as our first product, Plus Pedal. This is a guitar pedal that borrows the principle […]

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How to Beat The Working From Home Blues (60-Second Video)

Working from home has many plusses, but it can be lonely. Here are some ways to keep connected. June 26, 2019 1 min read No commute, no boss, no set schedule — working from home can be great for so many reasons. But, it can also leave people feeling isolated and even depressed after long stints of being alone. Here are some strategies to help solopreneurs feel connected: Occasionally work from a co-working space or even a cafe. In these environments, you’ll likely be sitting next to other solo operators who, just like you, would be happy to look up from their laptops and chat every once in a while. Join local entrepreneur organizations or online communities like Entrepreneur Insider. No one truly understands the highs and lows of this life like another entrepreneur. Maintain regular work hours with lunch breaks. The ability to work non-stop day and night can […]

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3 Things That Make Angel Investors Want to Invest in You (60-Second Video)

Here are the key ingredients for a pitch that wins over angel investors. Angel investors are usually affluent individuals who are looking to invest in early-stage startups. Great! Here are some of the things they look for in an opportunity: New ideas! This doesn’t mean that you must have proprietary tech or be an inventor, but it does mean that your idea needs to stand out as different from anything similar to it. A window of opportunity. Investors want to know that there is a window that will allow your company to be the first in a market and able to make a landgrab for business before others can. Market potential. Show how your business can scale with numbers you can back up. Angels are not solely motivated by profit, but a little profit never hurt anyone. Good luck! Watch the next 3 Things to Know video  Read_More Related posts: How to Get Male Venture […]

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How to Start a Podcast With Almost No Money

From finding inexpensive equipment to booking great guests, Ralph Sutton, co-host of The SDR Show, breaks down everything you need to know about starting your own podcast. June 10, 2019 12 min read Podcasting Insights estimates that there are currently 750,000 podcasts in existence, with a combined archive of over 30 million episodes. That begs the question: Does the world really need another podcast? The answer: yes! The audience for podcasts is insatiable, always hungry for new insights, new experiences and new voices. And for the people on the other end of the earbuds — the creators — podcasts offer a ton of rewards, including bolstering their credentials as an expert, creating new revenue streams, building brand awareness for their business and, honestly, podcasting is just really fun to do. So how do you start a podcast? We asked Ralph Sutton, co-host of comedy podcast The SDR Show and founder of the million+ subscriber GaS Digital […]

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How to Perfect Your Elevator Pitch for Investors (60-Second Video)

Here are three things investors want to hear from you. Entrepreneur Elevator Pitch is a show where entrepreneurs have just 60 seconds to wow a board of investors. Here are three things we’ve seen that separate the great pitches from the not-so-great: Be clear and concise. People who fail to get our investors’ attention are all over the place. Present a clear picture of your idea and your investment needs. Solve a problem. Cute ideas are just that: cute. For a business to be a success, it needs to solve a problem for customers. Don’t explain why people will want your product—explain why they need it. Do the math. Make sure you know all of the relevant numbers surrounding your business: costs, profit margins, size of the market and more. Good luck! Watch the next 3 Things to Know video  Read_More Related posts: 3 Components of the Perfect Elevator Pitch Bob Saget’s […]

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6 Pillars of a Healthy Partnership, According to Jon Taffer From ‘Bar Rescue’

The star of ‘Bar Rescue’ and ‘Marriage Rescue’ breaks down the key ingredients of partnerships that work in good times and bad. May 29, 2019 6 min read Here’s something not many people saw coming: Jon Taffer, the human volcano who has been the star of Bar Rescue for six seasons, is turning his attention from booze to love on his new show Marriage Rescue. How did a guy who became a star by screaming at people for serving watered-down margaritas and mushy mozzarella sticks step into the role of a marriage counselor? It’s not as big a jump as you might think. “After my Bar Rescue experience and dealing with 178 failures,” Jon Taffer told Entrepreneur, “you realize that businesses are relationships and relationships are businesses. And if partnerships are unhealthy and customer relationships are unhealthy, there’s no way a business can be successful.” Marriage Rescue premieres Sunday, June 2 at 10 PM ET/PT on […]

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Best Big Cities to Launch Your Business, Ranked (60-Second Video)

Check out this ranking of the top 10 big cities in the U.S. to launch your startup. Looking to start a new business? WalletHub recently released its ranking of the best large cities to launch, based on 19 key metrics, ranging from five-year business-survival rate to office-space affordability. Here are their top 10 picks. Is your city on the list? 10. Denver, CO 9. Atlanta, GA 8. Raleigh, NC 7. Durham, NC 6. Charlotte, NC 5. Tampa, FL 4. Austin, TX 3. Miami, FL 2. Oklahoma City, OK 1. Orlando, FL Watch more 3 Things to Know videos here. Read_More Related posts: 5 Best Cities Around the World to Launch a Startup 3 Cities That Taught Me What Tech Looks Like Outside of Silicon Valley Cities Where Millennial Entrepreneurs Are Likely to Thrive These Are the 20 Best Cities to Start a Business How To Launch a Business While Minimizing […]

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3 Things to Look for Before You Hire Your First Employee (60-Second Video)

About to become more than an army of one? Here’s what to consider as you make that first hire. About to become more than the boss of just yourself? Congrats! Here are three things to consider before you hire your first employee from our book Start Your Own Business: Don’t hire someone just like you. It’s tempting because who’s better than you right? But you want to find someone who has strengths in areas you’re not so strong in, someone who can excel in the stuff you find difficult or hate doing. Look for a great communicator and a great listener. You want to know that they understand your vision, and can clearly let you know about progress or problems they face in their day-to-day. Use the Road Trip Test: Basically, you can have the smartest, most experienced applicant in the world, but if the thought of being stuck in a […]

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How to Become a Professional Fortnite Player (60-Second Video)

Three tips from a player who gets paid to play his favorite game. Entrepreneur recently spoke with professional Fortnite player Nick Overton (better known as Marksman) to find out how you can get paid to play your favorite game. Practice. Nick says that most pro Fornite players play for 5-10 hours every day. During these practice sessions, they try to put themselves into as many tough situations as possible to test different strategies. Being a pro gamer is one of the easiest and hardest things in the world to do. Easy because you don’t need any schooling or funding to get started. Hardest because there are a lot of players and getting into the top .0001% is no cake walk. Most pro players make money in tournaments and from the revenue that they generate from their YouTube and Twitch channels. So not only do you be good at killing digital people, you […]

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How to Become a Professional Fortnite Player

Pro gamer Nick ‘Marksman’ Overton explains how to make money and have fun as he prepares for the Newegg + CLG Fortnite Challenge. April 8, 2019 5 min read Did your parents ever tell that video games would rot your brain? Did they also mention that video games could also make you fabulously wealthy? Nick Overton makes a killing, literally and figuratively, as a professional Fortnite player. Last year, the 27 year old from Iowa better known in gaming circles as “Marksman” left a long trail of dead digital competitors in his wake — and made $500,000 in the process. Entrepreneur caught up with the sharp-eyed assassin in advance of his appearance with other members of his esports team Counter Logic Gaming at the Newegg + CLG Fortnite Challenge, a Fortnite event being held at The Hulu Theater at MSG in New York City on April 24. The event, free to […]

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3 Success Strategies for Balancing Your Day Job and Side Hustle

Here are some great tips for pulling off the day job/side hustle balancing act. April 5, 2019 2 min read Balancing a full-time job with a side gig isn’t easy, but it can be financially and emotionally rewarding — you’re doing what you want to do and getting paid for it! Here are 3 tips for pulling off the delicate balancing act of starting your dream business while maintaining a day job: Put your family to work. Answering phones, responding to customer feedback, putting together orders. Extra hands and brains can save you time, preserve energy, and keeps everyone involved rather than you disappearing behind a laptop every night. When you’re at work, be at work. Meaning, focus on the tasks at your day job. Do what you’re being paid to do. Trying to sneak in your own stuff on the company dime is dishonest and stressful, and you won’t […]

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How to Find a Great Idea

Inspiration for your next amazing business idea can come from anywhere, so pay attention! March 28, 2019 1 min read Here are three ways that inspiration hit some very successful business people. Annoyance. Bothered by a $40 late fee on a rented video, Reed Hastings thought to himself that video rentals should work like gym memberships — you get charged the same amount each month no matter how much you use them. And from that, Netflix was born. Noticing a trend and building off it. Gregorys Coffee founder and CEO decided to start his own business while sitting in a Starbucks. He realized he wanted to create an experience for people who like the speed of Dunkin Donuts and Starbucks, with the atmosphere of a boutique coffee shop. They recognize needs. House cleaning and dog walking don’t seem like innovative ideas, but people have started lucrative businesses focused on giving […]

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Is Your Great Business Idea Actually Great? Here’s How to Find Out.

Here are three indicators that your idea is worth your time and energy. March 19, 2019 2 min read You shot out of bed in the middle of the night with a billion-dollar idea. But is it really? Here are three indicators that tell you if you should put that idea into motion, or if you should go back to sleep. It solves a problem. Does your idea deliver a solution that makes a whole lot of people’s lives easier? Remember: It doesn’t have to be something no one else is doing, but it does have to be something that no one else does better. It’s scalable. For your idea to go big, it needs to have a pathway for growth and expansion. Do you see the potential for your product or service to be used by more and more people and industries? It’s something people want. This might seem obvious, but […]

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4 Ways to Protect Your Company’s Online Reputation

March 13, 2019 4 min read “Move fast and break things” is a philosophy that many entrepreneurs subscribe to. The idea being: don’t wait until it’s perfect; launch now and fix it later. For many aspects of business, this is a process that works. Glitches get fixed, tweaks are made, problems eventually get solved. But for your business’s online reputation, the “fix it later” approach can result in disaster. Hersh Davis-Nitzberg, founder and CEO of crisis management firm Reputation Control Inc., says that entrepreneurs need to be proactive about managing their online reputation before irreversible damage is done. Here are four steps he recommends you take to protect and improve your business. 1. First, understand the anatomy of your online reputation. “Your online brand is your entire digital footprint — every news article, video interview, Facebook post, Yelp review, Instagram photo, or other information about you on the internet. While each piece […]

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3 Smart Ways to Get Things Done

March 11, 2019 1 min read Let’s face it, we all have our strengths and weaknesses. But those weaknesses shouldn’t get between you and your goals. Here are three ways to deal with those necessary skills that don’t come easily to you. Take a class. There are tons of online webinars and courses (many of them free) that will give you a how-to approach to learning things like payroll, online marketing and more. Hire an employee to help! Think about how much time you’ll spend learning and then actually doing the bookkeeping. Now think about what else you could be doing with that time if you had a bookkeeper on staff. What is more valuable to you? Outsource the work to freelancers. Hiring freelancers and outside agencies for one-off tasks have become much simpler with work-for-hire sites like Fiverr.com and Upwork.com. These tips and many more come from Start Your Own Business. […]

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3 Quick Tips for Achieving Your Goals

To find success as an entrepreneur, it is very important to give yourself milestones to reach. March 4, 2019 1 min read Here are three ways to set goals that get you where you want to be. Be specific. You have a much better chance of succeeding if you know what your exact goal is. “Raising capital” isn’t a specific goal, but “Raise $10,000 by July 1” is. Be realistic. If you set a goal to make $100,000 in a month even though you haven’t earned that much in a year, that’s going to be tough. Begin with small steps like increasing your income by 25 percent. Once you hit that, you can reach for larger goals. Set short and long-term goals. Short-term goals help define where you want to be next week, next month, even next year. Long-term goals can be 5, 10 or 20 years in the future. […]

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Turn Your Business Plan Into Money!

Three things to know about writing your business plan. February 20, 2019 1 min read These tips, and many more, can be found in the best-selling book Start Your Own Business. Bankers, investors and VCs are sophisticated in financial matters, so avoid putting too much hype in your business plan. If it praises your idea as “unprecedented” or “the disruptor that will change the industry forever” you’re likely to turn serious investors off.  Spend extra time on your executive summary. Investors are busy! And if your summary is confusing, full of typos or worst of all, boring, they’ll likely move on to next pitch and toss your plan in the trash. Make sure your plan is complete! Entrepreneurs can be in such a rush to get funding that they submit condensed or preliminary plans. The problem is that this opens the door for investors to wonder if missing information even exists, and […]

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Childish Gambino Makes History and Amazon Makes a Run for It (60-Second Video)

Here are 3 things entrepreneurs should know today. February 11, 2019 1 min read History was made at last night’s Grammys. Childish Gambino’s “This Is America” was the first rap song to win awards for Song of the Year and Record of the Year. And Cardi B was the first solo woman to take home Rap Album of the Year. Amazon is thinking twice about its plan to bring HQ2 to New York City, according to the Washington Post. The plan, which would bring 25,000 jobs to the New York City, has been under attack from politicians after details surfaced of Amazon’s $3 billion tax break deal. Speaking of Amazon, a lawyer for American Media, publisher of the National Enquirer, went on ABC’s “This Week Sunday” and said that the publisher’s threat to expose Jeff Bezos’ nude selfies and bawdy text messages “absolutely is not extortion and not blackmail.” Um, […]

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