How AI-Based Software Can Optimize Your Tax-Prep

With filing date inching closer, entrepreneurs must initiate the process efficiently. Free Book Preview Tax and Legal Playbook Get game-changing solutions to your small business questions. July 8, 2020 3 min read Opinions expressed by Entrepreneur contributors are their own. The way that technology has changed how we do business is fascinating, enhancing our ability to get more done with more accuracy than ever before. Artificial Intelligence (AI) and Machine Learning are paving the way to a new future that holds tremendous promise and innovation. We have seen AI utilized across the board, whether in design, accounting, engineering or even education. As we embrace this new way of doing things, we can look towards convenience in even more areas, including how we file taxes — a tedious, complicated process most entrepreneurs still dread. And while I strongly believe that machines can’t replace humans, if AI can help us spend quality time […]

Read more

50 Things You Need to Succeed in the Perpetually Changing World of Modern Finance

The finance sector has seen huge disruptions over the past 20 years. Developments like fintech, cryptocurrencies and automation have totally changed the jobs of stockbrokers, traders, fund managers and bankers. With all the new innovations, stock traders from the 1980s might not recognize the finance industry at all today. Authority Magazine recently ran a series called “5 Things You Need To Succeed In the Modern World Of Finance.” In the series, we interviewed C-Suite executives and principals at finance or financial services companies who spoke about what a young person who joins the new world of finance needs to succeed in this sector. Here are some highlights of the interviews. If you do what is right for the client, you’ll be successful! A great example of this in our business is making sure we ask a lot of questions before making recommendations. If Joe Client wants security of principal and is fearful of […]

Read more

4 Money Management Tips for Entrepreneurs

June 23, 2020 6 min read Opinions expressed by Entrepreneur contributors are their own. Entrepreneurs are facing unprecedented levels of economic anxiety threatening to imperil their company’s financial stability. Numerous businesses around the world have shut down due to social distancing measures, with many likely to close permanently. Entrepreneurs and prospective startup owners seeking to avoid this fate need to manage their money carefully, as failing to carefully steward finances right now is a one-way ticket to bankruptcy. Don’t sit around and wait for financial salvation to miraculously appear. Instead, be proactive and take these steps to protect your company’s future. 1. Take advantage of tax breaks. Few people hate taxes as much as entrepreneurs who are forced to pay steep fees over and over again. High tax rates diminish commercial growth by limiting the size of a company’s workforce, discouraging renovations and the physical expansion of businesses, and burdening […]

Read more

5 Resources to Discover Investing

June 16, 2020 4 min read Opinions expressed by Entrepreneur contributors are their own. The onslaught of coronavirus has been ruinous to the global economy. But some are seeing this cloud of uncertainty through an opportunistic eye, including me. In light of the market’s volatility, I’ve been spending a lot more time reading up on financial trends, terminology and general teachings. Regardless of what may or may not happen, I believe now is a great time to learn more about investing.  S&P’s Global Financial Literacy Survey found that overall financial literacy is low around the world, and that risk diversification is one of the least understood concepts, a particularly relevant topic in today’s economic climate. And this divide is unevenly distributed across gender, social class and race. I reached out to my friend Anna-Sophie Hartvigsen, the cofounder of Denmark‘s Female Invest and a 2020 Forbes 30 under 30 recipient, to share some of her […]

Read more

How to Build a Personal 10-Year Plan

June 15, 2020 8 min read Opinions expressed by Entrepreneur contributors are their own. Young or old, stable or in transition, starting a new business or trying to find an exit strategy for a mature business, building a 10-year plan can give you a significant edge in living a happier and more fulfilling life. More specifically, for a business owner, it could be the difference between making a profit and harnessing your passion or losing years of your life as success continually remains elusive. The primary objective should be to take control of your future and not to simply be reactive and take what life throws at you. If you don’t have a written, passionate vision of your future 10 years from now, what are you even doing and why? Have you really thought through your activities right now and what the long-term ramifications will be? Writing down a plan can be a game changer in […]

Read more

10 Reasons the Stock Market Will Likely Crash Again

May 29, 2020 5 min read Opinions expressed by Entrepreneur contributors are their own. Despite the fact that many saw it coming, the stock market crash of March 2020 took an enormous toll on global economies. Most G20 countries saw an economic downturn of 30 percent as a result of the global shutdown and widespread panic caused by the global health crisis. Although the stock market has been slowly rising back up over the past couple of weeks, many fear that we haven’t seen the last of its impact on Wall Street. While it’s possible that the situation could continue improving, it’s also not unlikely that we’re due for another crash soon. Another shock may well be coming, as millions of people and businesses fall behind on obligations such as mortgages and corporate loans. Here are 10 reasons why this could happen.  1. A second wave of illness Regardless of where you […]

Read more

When Negotiating Term Sheets, How Much Is Too Much?

May 27, 2020 5 min read Opinions expressed by Entrepreneur contributors are their own. It was pounding rain outside my bedroom when my co-founder bursted through the door in a panic. He didn’t wait for my reaction to explain his ever pressing fear.  “One of our investor leads is on the phone and he’s about to walk away. He said we were too aggressive! How do we save this? I responded immediately: “What did we do? We asked way too much on the valuation, right?” “I bid him up on price too much and he is just threatening to walk away. He is not even picking up the phone. He just periodically texts me now. It’s very scary.” “Give it some time,” I responded. “Then, let him get in touch with you on his schedule. Make him want to come to you.”  Although my co-founder and I quickly closed this […]

Read more

4 Fun Ways for Millennials to Dip Their Toes Into Investing

Convertible loans, DIY platforms and methods for building that nest egg today. Grow Your Business, Not Your Inbox Stay informed and join our daily newsletter now! May 18, 2020 4 min read Opinions expressed by Entrepreneur contributors are their own. Calling all millennials: How much of your money is in equity or invested somewhere? Sure, there may be a savings account in a mutual fund somewhere nice and safe that your parents set up for you on your 18th birthday, but knowledge about investing and the stock market isn’t as widespread as you’d think. In fact, a recent study found that less than half of affluent (i.e. money-making, employed and educated) millennials feel knowledgeable about investing at all. That includes setting aside money for retirement. While knowledge about how to navigate the stock market is nebulous, there’s also a gap in how to acquire knowledge, and 21 percent of non-investors say that they don’t […]

Read more

What Robin Hood CEO Wes Moore Learned From Loving His Career on Wall Street to Pursue His Passion

Plus, Moore explains how all of us have skills that can be used to help during a crisis. Grow Your Business, Not Your Inbox Stay informed and join our daily newsletter now! May 17, 2020 1 min read Opinions expressed by Entrepreneur contributors are their own. On this episode of The Playbook, Robin Hood Foundation CEO Wes Moore talks about: Why everybody knows the things that make their heart beat faster, but few of us choose to seek them out [8:48]. What he learned from leaving his career on Wall Street to pursue a career he was truly passionate about [10:14]. How Robin Hood is generating billions of dollars to fight against poverty and how he’s leading the organization through a time of dire crisis [13:31]. Why you need to find your “unmatched skillset” and utilize that to make the world better during the current crisis [21:16]. Related: 10 Things You Shouldn’t Invest In Read_More […]

Read more

This $35 Bundle Can Help You Recession-Proof Your Personal Finances

Protect your personal and business wealth through tough times. Grow Your Business, Not Your Inbox Stay informed and join our daily newsletter now! May 16, 2020 2 min read Disclosure: Our goal is to feature products and services that we think you’ll find interesting and useful. If you purchase them, Entrepreneur may get a small share of the revenue from the sale from our commerce partners. Many entrepreneurs have a background in finance and investing, which certainly comes in handy while growing a business from the ground up. However, others do not have that background, and in worrisome economic times like these, that lack of financial literacy may be a burden on your business. If you’re in need of a financial and investing primer to help protect your personal and business wealth, check out The Complete Finance Training & Investing Bundle. This eight-course, 31-hour bundle is aimed to give you […]

Read more

A New Breed of Private Equity Investors Present More Exit Options Than Ever for Entrepreneurs

May 12, 2020 6 min read Opinions expressed by Entrepreneur contributors are their own. In 1988, Jon Leonhardt dropped out of college. A few years later, he started taking on projects for insurance companies who were defending themselves against lawsuits. The process of requesting medical records was often a long, drawn-out process, so Leonhardt started taking his own copy machine with him and copying files his clients were asking for. This was the start of what became RRS Medical, which allows hospitals and other authorized users to request medical records in a secure and compliant way. Twenty years later, Leonhardt started thinking about exiting his business, but his options were limited. Leonhardt’s story is all too common for entrepreneurs. But with the private equity investment model expanding, entrepreneurs are now finding more exit options for their business. Related: Exit Strategy Through the Eyes of an Angel Investor Why sell to begin with? Leonhardt […]

Read more

5 Personal-Finance Mistakes That Kill Promising Companies

May 12, 2020 5 min read Opinions expressed by Entrepreneur contributors are their own. For most people, personal-finance mistakes affect only themselves. For entrepreneurs, a personal-finance slip-up can have far-reaching consequences. People who get into tight financial spots while running their businesses must make difficult choices about which bills to pay, which opportunities to let go and which partners to leave. Founders of startups are no strangers to running lean, but that’s no reason to add to the pile. Good personal-finance habits set entrepreneurs up for success by empowering them to focus their energies on the growth of their companies. Bad habits take their attention away from their businesses and hinder their ability to expand.  Don’t let your focus on your company lead you to neglect your own affairs. Watch out for these common personal-finance mistakes, and take proactive measures to keep your life (and your startup’s growth) on track. […]

Read more

The Real Reason Behind ABBA’s Crazy Outfits

For the Swedish supergroup, it wasn’t just about the music. May 11, 2020 3 min read Opinions expressed by Entrepreneur contributors are their own. C’mon, just admit it: You’re an ABBA fan. I get it. So am I. And how could you not be? The ’70’s Swedish super group produced some of the most sing-able, happiest, snappiest songs ever, from “Dancing Queen” to “Fernando.” When ABBA is played at a bar or party or just on the radio, everyone — regardless of age — seems to know the lyrics and sings along. Besides their songs, one of the most definable things about ABBA was their clothes. Much has been written about their many outrageous outfits over the years, and most fans would agree that the band’s clothing choices were never … well … understated. For years, ABBA’s fans thought it was just the group’s way of showing their uniqueness, their individuality, their brand. […]

Read more

7 Financial Lessons the Crisis Will Teach Us

May 6, 2020 5 min read Opinions expressed by Entrepreneur contributors are their own. The text messages, DMs, and emails rapidly arrived, all of them expressing a similar concern: My finances are in trouble. In seemingly just a few weeks’ time, our world was turned upside down. A public health emergency raced around the globe, wreaking havoc on nations, cities and neighborhoods. The United States has not been immune: Markets tanked, jobs vanished and, most importantly, lives have been lost.  Related: 5 Lessons About Building Wealth, From Basketball Titan LeBron James During these times, many have found themselves sitting at home, wondering what could have been done differently and how to let that knowledge better their future decision-making. Financially, this crisis has certainly provided its fair share of lessons learned, ones that we would’ve rather not learned the hard way. The point shouldn’t be to dwell on regretful mistakes but to […]

Read more

5 Things You Need to Know About Acquiring a Business

You can’t become a market leader through organic growth alone. Here’s how to think about acquisitions strategically. April 8, 2020 7 min read Opinions expressed by Entrepreneur contributors are their own. When it comes to looking for advice on how to get acquired, there’s a lot out there — 405 million Google entries, to be exact. When it comes to advice on how to acquire, however, the results are fewer and are predominantly process-based, not strategy based. You can’t become a market leader through organic growth alone. Google has made more than 200 acquisitions in its 21 years, the first being just three years after it was incorporated. Those doing the math can see that that’s about 10 acquisitions a year. To get the speed and breadth needed for scale, even 200 percent year-on-year organic growth won’t cut it. The knowledge and capabilities that come with acquisitions dwarfs anything that can be done on your own. Related: When Acquiring a […]

Read more

Digitization of Assets Is Altering Companies’ Competitive Advantages

And why frictionless payment methods have to become the norm. March 27, 2020 4 min read Opinions expressed by Entrepreneur contributors are their own. Convenience has a new name: frictionless. Consumers are favoring companies that provide streamlined online buying experiences. Think Amazon’s one-click purchase (perhaps the world’s most frictionless checkout process) and Facebook’s proposed Libra non-sovereign currency. Digital, social and ecommerce are ushering an age of electronification of products and currencies. Of course there’s political resistance to some of these fintech innovations — incumbents are using entrenched lobbyists to slow the pace of change. But companies want to mazimize customer satisfaction, which is the no. 1 priority for businesses from a sales standpoint, according to Salesforce’s annual State of Sales report. The digitization of tangible things includes fungible (e.g. gold) and non-fungible goods (e.g. artwork). The transformation of real assets to tokens is disrupting many sectors, including the $2 trillion global payments industry. This makes […]

Read more

Minimize the Financial Impact of COVID-19 Through Effective Negotiation

Managing at-risk contracts will take discipline, mindfulness and commitment to a vision that extends beyond this moment. March 19, 2020 5 min read Opinions expressed by Entrepreneur contributors are their own. As the world deals with the magnitude of the COVID-19 virus, we find our daily lives transformed in ways we never thought possible. Businesses are experiencing a period of growing uncertainty. All signed contracts seem to be at risk. Many organizations are restricting travel, limiting employee congregations and are even having their teams work from home. In an instant, a world that we thought couldn’t get more virtual did just that.  We’re being faced with the new challenge of running our businesses without any face-to-face interactions. How do we stay connected to our clients, suppliers and employees while distancing ourselves from each other for public and personal safety? How do we minimize damage to everything we’ve worked so hard to build? […]

Read more

3 Ways Alternate Lending Is Driving the Future of Finance

It’s a gold mine that’s changing the rules of finance and opening up new opportunities. March 18, 2020 4 min read Opinions expressed by Entrepreneur contributors are their own. Alternate finance is a rapidly growing industry, fueled by constant innovations in fintech and growing investment awareness. This is a marked departure from the past, when investment was the province of large financial institutions and wealthy individuals.  There are many forms of alternate finance, from peer-to-peer platforms to ones that are more akin to institutional lenders, but with much more flexibility. The lending formats are very diverse as well, ranging from mortgages and payday loans to loans disbursed in cryptocurrency. For entrepreneurs and investors, alternate lending is a gold mine that’s changing the rules of finance and opening up new opportunities, starting with these three. Profitable Investments The evolution of alternative lending has moved from the days when it was mostly dominated by peer-to-peer platforms […]

Read more

6 Savvy Ways to Diversify Your Investment Portfolio

Follow these simple steps and you’ll reap financial success. March 12, 2020 4 min read Opinions expressed by Entrepreneur contributors are their own. Anyone who has studied finance, even for just one day, could tell you that building a diversified investment portfolio is critical to success, primarily by minimizing risk and maximizing opportunity. Nevertheless, smart diversification is easier said than done. Your investment strategy now could determine your financial success for years to come. Making the wrong diversification choices can easily end up being just as risky as not diversifying at all. So how can you gear your portfolio toward financial success? These six tips might help. 1. Quality over quantity Simply claiming a large number of investments doesn’t necessarily mean your portfolio is properly diversified. If you typically focus on U.S.-based stocks located, you may want to expand outward into bonds and international opportunities. Two of the most important factors in building variety are value […]

Read more

The 1 Reason You Should Never Buy Individual Stocks

In these volatile markets, it’s important to remember what your business really is. March 11, 2020 4 min read Opinions expressed by Entrepreneur contributors are their own. About 20 years ago, I bought some shares of a publicly held company. I will never do so again. Said company, which is still around, sells handheld point-of-sale scanners. They were a “hot pick” back then and caught my attention because of a few very positive articles. I’d never dabbled in individual stocks before, preferring instead to put my money into mutual funds, but this opportunity seemed too enticing to miss. This was a tech company. My company is a tech company! It sells to mostly small- and medium-sized customers. My company sells to mostly small- and medium-sized customers! I know these guys! They’re loved by the same experts that I love. Most importantly, the people in the know say this company was poised for […]

Read more
1 2 3 5