How to Start a Restaurant – ShoeMoney

We’re busy. We don’t have time to cook and eat. We’d rather just eat and run. And besides, 50 percent of Americans hate to cook. It’s a chore. If they could afford a cook, they would. But instead, they choose to eat out when they can afford it. This is why the restaurant industry is booming. We’ve seen an increase in the number of food-service joints from 40 years ago from 155,000 to 960,000 in the United States alone. But it’s still difficult to float that business off the ground. Competition is fierce and if you can’t provide great service, incredible food, and provide a comfortable and fun atmosphere, your competition is going to beat you to the punch. What does it take to claw your way to the top and build the best restaurant on the block? Today we’re going to explore in depth what that means and how […]

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Why You Should Do Everything You Can to Self-Fund Your Business

Self-funding allows you to keep control of your business and improve your entrepreneurial skills. August 24, 2019 7 min read Opinions expressed by Entrepreneur contributors are their own. Starting a business is one of the hardest things you’ll ever do. It takes time, energy, and a whole lot of money. More money than you have in your bank account. That means you’ve got to get funded, right? Wrong.  Tempting as it may be to court investors before opening for business, there are some great reasons to skip funders and do it alone. Here are the top reasons to self-fund your money-making venture and stay debt-free.  Self-funding forces you to develop your core entrepreneurial skills.  There are a lot of skills you need as an entrepreneur. Yes, you should have the skill to hire and fire people, but before that, you’ve got to know your business and your customers inside and […]

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5 Ways to Start a Business with Cheap or Free Money

Crowdfunding, universities and government programs can be attractive options for people who want to start a business without giving up too much equity. June 11, 2019 8 min read Opinions expressed by Entrepreneur contributors are their own. You’ve got the next billion-dollar idea. Or million dollar, or whatever it is. The point is it’s good, and you want to prove its value. This is the stage where most startups die — which is to say before they even get started. Because the most daunting obstacle to seeding the next big idea is capital. Most first-time entrepreneurs have heard of venture capitalist firms and angel investors. That’s how Facebook got started, right? So why shouldn’t it be you? The truth is it’s extremely difficult and rare for first timers to receive funding this way. In fact, by some estimates, less than one percent of startups are funded by angel investors and a […]

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You Can’t Get VC Funding for Your Startup. Now, What?

Take heart, because there are other paths to take to launch a company — some very popular, and others virtually unknown. September 7, 2018 6 min read Opinions expressed by Entrepreneur contributors are their own. First, there was the initial idea. Then you ran it past multiple family members and friends. You decided that the idea was ready to release to the world. Then, as a newly minted entrepreneur, you sat back and realized the inevitable: You somehow needed to fund your startup. Related: What Nobody Tells You About Taking VC Money Face it: When push comes to shove, a good idea, even a great one, is nothing without the practical back end. And it’s at this point that young entrepreneurs who can’t self-fund their startups or obtain money from friends and family traditionally realize their limited choices: angel investor, crowdfunding or venture capitalists. The problem is that angel investors are hard to find and even […]

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When an Investor Bailed, Finery Founders Brooklyn Decker and Whitney Casey Had to Do Major Damage Control

Finding new capital, calming staff nerves and making sure the brand’s reputation was intact called for calm leadership and quick thinking. May 16, 2018 4 min read In the Women Entrepreneur Series My Worst Moment, female founders look back on the most difficult, gut-wrenching, almost-made-them-give-up experience they’ve had while building their business—and how they recovered. Finery is a digital wardrobe-management platform that tracks your online clothing purchases and helps create and manage outfits. (Yes, it’s the Clueless closet come true!) Founders Whitney Casey and Brooklyn Decker launched the company to make women’s lives easier, but getting the startup off the ground was anything but easy. When a well-known investor backed out of a deal, the women worried that the reputation of their operation was at stake—not to mention the peace of mind of their employees. Casey, the startup’s CEO, tells us what went wrong. “As a new startup, having an […]

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How Much Money Does It Take to Start an Online Business?

Today I want to talk about how much money it takes to start an online business. This is a very common question that I’m asked, and it was definitely a question I had when I first started. Pat Flynn September 5, 2016 Today I want to talk about how much money it takes to start an online business. This is a very common question that I’m asked, and it was definitely a question I had when I first started. There’s a common misconception about what it really costs to get started. Most people, including me at one point, think that it requires loads of money. I understand how that can be discouraging. You may be thinking, “Well, I don’t have any funds. How could I really start a business?” But there’s good news! While it does cost money to start an online business, it costs less than you may be […]

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This Online Tool Will Tell You Whether You’re Ready for Funding

You might have a great idea for a company, but you’ll need more than that in place before investors will even consider taking a chance on you. If you want to know whether it’s time to start pursuing capital or equity investment, or what else you’ll need to do first, this online tool can help to lay out all of your cards on the table. The Most Fundable Companies Qualifier Survey from Pepperdine University’s Graziadio School of Business and Management is available to early-stage companies in the U.S. The free survey evaluates where a company stands across 12 assessment areas, from founder background to market opportunity, to predict investment readiness. Entrepreneurs who take the survey receive automatically generated customized feedback on business structure, pitching and more. It’s a part of a research initiative that, in the long-term, is designed to provide a data-informed look at what makes startups succeed or […]

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