How to Raise Capital in Uncertain Times

Here’s how to raise capital when things get challenging. Opinions expressed by Entrepreneur contributors are their own. For the past decade, we have been in the midst of the biggest economic expansion in American history with unemployment at a historic low of 3.6%.  Naturally, during periods of economic expansion, raising capital for a startup or new business is easier. Investors are incentivized to plow capital into nascent businesses because both the prospect of return is higher in comparison to other investment opportunities and the downside risk is lessened because of target customer spending and capital replenishment. If the “times are good,” investors generally know that even if founders make mistakes, they will have ample chances and opportunities to correct them.  But what happens when the market turns and we enter a recession? Or something unexpected, a so-called, “Black Swan” event like the Coronavirus upends global markets? How do entrepreneurs raise […]

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7 Ways to Make Extra Income Even With a Full-Time Job

You can make money hosting events without aiming for thousands of sign-ups, vendors and high-profile guest speakers. Instead, form a free MeetUp group on a topic you’re knowledgeable about, like growth hacking, and run free events. After you secure a loyal following, charge for an event with a reputable guest speaker. Rent out a small, upscale conference room at a nearby hotel, and grow your new MeetUp by hosting exclusive, sought-after events that charge a premium for fantastic content. Read This: Start Your Own Event Planning Business by The Staff at Entrepreneur Media and Cheryl Kimball | Amazon Read_More Related posts: 17 Passive Income Ideas for Increasing Your Cash Flow Understanding the Two Types of Passive Income & Why You Need Them Five Myths About Passive Income You probably Still Believe How I Made An Extra $1,055.00 A Month In Passive Income Two Woodworkers and How They Make a Full-Time Income from […]

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What Is Accounts Payable? Everything Business Owners Need to Know – ShoeMoney

Each year, just over 400,000 startups open their doors for business. For some, the driving force behind the business is someone experienced and confident in what needs to be done to make their fledgling company succeed.  For others, the experience is lacking, and many questions pop up as the tiny startup forms into a bona fide business. One common question is, what is accounts payable?  This is one of those critical questions because it directly relates to how you manage the startup’s finances. Keep reading to learn about this section of your business’ finances and why they’re so important.  What Is Accounts Payable? Accounts payable is a complete list of the debt and liabilities of your company. If you make orders on credit or have materials ordered before paying for them, then you have accounts payable.  When looking at the accounting for a business, these are liabilities creditors have a right to ask […]

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Up for a Raise? Use These Five Strategies to Make It Happen.

January 1, 2020 6 min read About six in 10 workers are heading into the holiday season with bigger paychecks than last year, according to a recent survey by MagnifyMoney — and about half of those who received a raise said it was accompanied by a promotion.  That’s all well and good, but categorizing the results by gender yielded some disconcerting figures: More men reported pay increases than women (64 percent vs. 52 percent), and men were also more likely than women to receive a promotion alongside their raise (54 percent vs. 37 percent).  Data from the United States Census Bureau backs that up: The real median earnings of all U.S. workers increased 3.4 percent between 2017 and 2018, but when you break down those median earnings by gender, men made almost $10,000 more than women.  This barrage of negative numbers doesn’t do much to help boost women’s confidence in […]

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How to Find Affordable Business Insurance like a Boss – ShoeMoney

Business insurance premiums represented a full $730 billion globally in revenue during 2017. In essence, insurance runs the world. It also ensures that you can conduct business safely and legally in the United States. But it can be horribly expensive if you buy it from the wrong people. How do you know that you’re getting a good deal? It’s easier than you might think. We’re going to show you how it’s done. Let’s save some money. 1. Make Comparisons Not all insurance companies are equal. Some might seem like a cheap option, but they’re cheap in more than one way. For example, your premium might be low and your deductible, but they might not cover certain legal fees. You’ll think you’re safe until you get sued. But it was all there in the fine print. The best way to avoid this is by comparing your insurance companies. You could open […]

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The Best Tips on How to Hire Professionals in Information Technology – ShoeMoney

It’s difficult to find skilled tech professionals who can execute even the most menial IT tasks. The number of job openings for technology professionals is staggering. More than 700,000 positions sit open and ready for even the least educated and most qualified tech person. Thus competition is fierce in the world of tech recruiting. If you’re not offering top dollar for a position, it seems you’ll lose out to the bigger companies. How then do you attract new talent in such a desert? It’s a little easier than you might think. Keep on reading to find out. 1. Use Lead Generation Techniques You’re likely not going to win over new talent the traditional way. Throwing an ad in the paper or creating a job listing on regular job boards will likely turn up nothing. They’ll just sit there collecting dust like some forgotten piece of mail on your desk. If […]

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7 Steps to Reduce Your Taxes by 10-40% Permanently

These tactics can can add up to millions in tax savings over a lifetime. October 3, 2019 5 min read Opinions expressed by Entrepreneur contributors are their own. To help entrepreneurs maximize tax savings and build long-term wealth, every school should be teaching their students these seven tax tips in financial education classes. As millions go back-to-school, the majority never learn this information in home economics and business courses. And because taxes are anyone’s greatest expense, a class on this topic should be required for every high school and college student.  What most people do not understand is that simply by increasing your understanding of the tax code, you can learn how to legally reduce your taxes by 10-40% permanently, which can add up to millions in tax savings over a lifetime. Related: 5 Ways That Billionaire Warren Buffett Pays a Lower Tax Rate Than His Secretary The good news for entrepreneurs is […]

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The 5 Things That Matter More Than Making Money

All the money in the world won’t make a difference if you don’t have these five things. October 2, 2019 5 min read Opinions expressed by Entrepreneur contributors are their own. As an entrepreneur, you put too much time and energy into your venture not to make massive amounts of cash. Bringing in money is vital for you and your team members, who depend on you for their livelihoods. But some things are more important than money and ignoring them will make your money worthless. Here are the top five things that should take priority over the dollar in your day-to-day. 1. Your faith  This isn’t religious faith, although that can be part of it. The faith I’m talking about is the faith you have in yourself, your dream and your business. Without this faith, it doesn’t matter how good your product or service is. I’ve seen doubt destroy businesses that could […]

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Which Billionaire Will Be the World’s First Trillionaire? (Infographic)

This infographic charts the probable timeline of the first person to have a $1 trillion (or $1 million million) dollars. October 2, 2019 2 min read The number crunchers at Comparisun have analyzed the last five years of data of the world’s richest companies and individuals to predict when they’ll join the Trillion Dollar Club. You can see the entire list here.  This is hardly exact science, and in all likelihood, none of these entrepreneurs will ever have $1 trillion. Who knows, maybe you’ll launch the next global platform that reduces these big boys to zero. Maybe this fun chart will help inspire you to do what even the most famous businesspeople of today have yet to accomplish. Predicting the world’s first trillionaires (infographic) Jeff Bezos may have lost an estimated $38 billion in his recent divorce, but the Amazon CEO is still the richest person on the planet. According to Comparisun, his net […]

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Start a Construction Company the Easy Way by Following These 3 Steps

Residential home sales are steadily rising. This month, the rate of sales nationwide was up 7.1% from last month and it was 18% over projections. Now is the best time to get into the construction business. Prices are finally recovering after the market slump ten years ago and it’s been a seller’s market for a while now. But if you’ve never started a business, you might be wondering what you need to do first. Here’s a quick list of what you need to do in order to start a construction business. 1. Research Your Market Construction is a broad category. Are you starting a residential construction company, a government contractor company, or a commercial construction company? What types of homes or buildings are you going to build? This will determine which market you need to research. As we said previously, the residential market is booming. But where are you going […]

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What is Enterprise Architecture? A Guide

A silo is by definition restrictive. Literal silos keep grain or other loose objects from spilling out into the world. And they restrict access. In the business world, a silo is often a bad thing. It means one department isn’t communicating with another. And each department would rather work on their own than work with others. Siloed departments can be toxic. They often end in turf wars and possible terminations. You don’t want your agency or business to fall into the silo trap. But how do you get departments to work together? Simple, enterprise architecture. This is the study and implementation of how to execute business strategies. And you can hire enterprise architects to help keep your organization from getting siloed. Here’s how that works. 1. There Are Four Types of Enterprise Architecture Business architecture is a near ancient art. We’ve had years to perfect and categorize the many different […]

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5 Ways Freelancers Can Organize Their Workspace For Optimum Productivity

If you’re like me, your home workspace doubles as your gaming space. This was detrimental to my productivity. Every time I sat down, my brain saw my VR headset and my slick gaming PC and said, “it’s time to play, right?” Getting into the groove became a daily struggle. I’d battle that voice that said, “relax, this is your fun space,” every morning. It wasn’t until I changed my environment that I removed this stress from my life. How then do you signal to your brain it’s time to work? A lot has to do with your environment. And today I’m going to pass on some tips about organizing your workspace for maximum productivity. 1. Don’t Cheap Out On Your Command Chair Do you think Captain Kirk would want the Federation to shirk when it came to his chair on the bridge of the Enterprise? He needed to be comfortable […]

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5 Badass Female Entrepreneurs You’ve Probably Never Heard About But Should Have

Even if women-owned firms are 34% of all businesses, they only represent 8% of employment and 4% of revenues. Women have historically faced near impossible barriers to entry in the business world. And the above statistic shows that the news hasn’t gotten much better. But women are charging ahead. Female entrepreneurship is on the rise. Between 97 and 2017, female-owned businesses increased by 114%. That number is increasing each year. Today we’re going to celebrate this accomplishment by highlighting five women who’ve faced the odds and won out. Here they are. 1. Michelle Miller Fitness If you’re lucky or rich, you could start a business in a month or two. But it can take up to a year to start a small business due to the myriad of hoops to jump. Michelle Miller managed to start her business in less than 6 months. This included porduct design, procurement, and branding. […]

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6 Easy Steps to Making Connections That Make Money and Create Happiness

Transform your career and make money by building meaningful relationships. July 16, 2019 4 min read Opinions expressed by Entrepreneur contributors are their own. It pays to be a people person. Done correctly, being a people person can pay in a very literal sense. For me, it’s helped build my businesses, created countless opportunities and has been the foundation for every success I’ve achieved. This may sound like a daunting truth to the non-networker or introvert, but here’s good news: I’ve created and proven a winning formula after years of experience and trial and error. It’s gone through many iterations, but these are the steps that lead to what I call the Velocity of Relationships. 1. Become a habitual networker. Your network can’t grow if you’re not constantly focused on it. Fortunately, there are a handful of daily tasks that will get you into the habit of cultivating a perpetually growing […]

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Proper Planning – How to do the right things, in the right order, in the right amount (FS325)

A business cannot start with at least some planning, right? How important are the planning stages of your journey? How do we ensure that we are planning enough, not too much and not too little? Planning should be given due attention but should not take over all your time and detract from other important areas. If you can balance your planning appropriately and make good decisions in the beginning you can set off on the right foot without obsessing over it! In this episode we are helping you to answer the questions, “Where am I going? What paths are available? Where should I start?” We do not want you to get lost in the questions that inevitably arise and will always do so, you need to be able to have purpose and direction when laying out your plans. Today on the show we are joined by Joe Kerns, who is […]

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How to Become the 1% (It’s Easier Than You Think)

Never mind the naysayers. Earning a high income or achieving wealth is not out of reach. June 14, 2019 6 min read This story originally appeared on fee.org This summer, thousands of moms and dads will load their children onto buses and hug them goodbye as they head off to camp to pursue their childhood dreams. Many of these kids will devote their time to practicing their curveballs and base stealing on the diamond. Undoubtedly, all of them will be dreaming of becoming the next Mike Trout or Christian Yelich. But what are the odds that the kid sitting in the fourth row of that bus will actually make it to the big leagues? Slim, yet this kid in the fourth row is joyfully sent off to camp every year. Why is that? Because playing the game is fun, and there are lessons to be learned from goals that seem […]

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Be Like Porsche: Invent Something New

“There is nothing new under the sun.” In a sense, King Solomon was right. Everything “new” we create is merely combination of existing materials. But not every combination of existing matter has been created. And inventions crop up all the time that inspire a new generation of tech. Today we’re going to look at one inspiring story. Porsche. How did Porsche become known as the premier luxury brand they are today? Was it merely the iconic Porsche Panamera? Print off your spreadsheets cause we’re going to look at how they’ve changed the business of luxury items forever. Form and Function I just learned a new word today. “Horological.” It means the study of the measurement of time. Luxury car companies like to contract with watchmakers to make car inspired watches. But few have gotten into the business of horology like Porsche. In fact, they changed the wristwatch industry entirely. How? […]

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The Psychology of Money and Wealth with Ramit Sethi

Pat Flynn: So I like to mix things up here on the Smart Passive Income Podcast. This is a very different kind of episode, you’re going to be transported to the city of New York. I actually conducted a walking interview, through the city of New York, with a good friend of mine, Ramit Sethi. I was in New York for some interviews and to meet some people and some retailers, related to the SwitchPod. And I was there with Caleb and he said, why don’t we just try this thing? And so we did it, it’s a learning process. You’ll hear at the beginning of the episode, my mic was a little bit hot because I was holding it close to me. You’ll also probably hear how cold I was. I was losing my breath a little bit, because it was twenty-five degrees Fahrenheit. Which for me, being from […]

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12 Ways That Writers, Speakers and Experts Can Make Money as Key People of Influence

Information and inspiration are valuable commodities in the entrepreneurial world. May 28, 2019 5 min read Opinions expressed by Entrepreneur contributors are their own. In every industry, there are Key People of Influence. Their names come up in conversation, they attract opportunities, they make more money and have more fun.  Key People of Influence (KPIs) are different from traditional Influencers associated with “influencer marketing.” Influencers focus on increasing their follower count on social media and aren’t taken seriously unless they have over 100,000 followers. In some industries, it takes a million followers to be considered an influencer. For an influencer,  income comes when brands pay to promote products to their followers.  Key People of Influence typically have a smaller but more respected profile; people know who they are and are clear about their value. Some Key People of Influence have just a few thousand high-quality followers while others are a little […]

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Take the Fork in the Road: Come Up With Awesome Business Ideas

Most people choose left or right when they come to a fork in the road. And you could just follow everyone else. Or you could just take the fork and do something with it. This is what business building is like. It’s looking at what other people aren’t doing and doing that. But how do you get from, no clue to successful idea? Do you pull a rabbit out of a hat? Shuffle a deck of cards? Today we’re going to give you a small map you can follow to getting to your best business ideas. 1. Take Note Like the illustration above, you can easily find out where people have gone in the past. With the advent of the internet, this has become even easier. You can easily find case studies online. Look at the niche you’re interested in and find out what startups other Entrepreneurs have done. Take […]

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