Here’s Why More THC Companies Are Starting CBD Companies

The quest to cater to different consumers in a growing market is growing wider every day. August 14, 2019 5 min read Brought to you by Weedmaps Judging from cannabis sales — U.S. adult-use and medical-only marijuana sales reaching $8 billion to $10 billion in 2018 while cannabidiol (CBD) sales were upwards of $238 million, according to Marijuana Business Daily estimates — consumers are extremely interested in both THC and CBD. So are business owners. As legalization continues to spread, both will continue to cater to different consumer types in a growing a company’s potential market wider than ever before. The CBD market grew by 57% in 2018, according to the Nutrition Business Journal Hemp & CBD Guide(NBJ). In the study, the NBJ found 73% of natural and organic product manufacturers surveyed are expanding their offerings to include CBD products. The NBJ’s 65% of natural and organic product manufacturers expected to launch new hemp-derived CBD products in […]

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Successful Startups Have This One Thing in Common

Here’s how you can earn the support your new business needs. August 14, 2019 5 min read Opinions expressed by Entrepreneur contributors are their own. No matter how much you bring to the table, whether it’s money, experience or enthusiasm, there’s one lesson every entrepreneur has to learn sooner or later: You can’t do it alone. Visionaries like Jeff Bezos and Elon Musk might be at the helm of some of the world’s most exciting companies, but Musk isn’t in the production plant assembling Teslas any more than Bezos is fulfilling shipments in an Amazon warehouse. The reality is that it takes a village to get a startup up and running, and while you’re well aware of the genius of your idea, the people around you probably aren’t. That means that your new job as a founder is finding a support network, inside and outside the office, to help you go […]

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3 Lessons From 3 Years As an Entrepreneur

Your business can survive those first 36 months so long as you become more self-aware. August 12, 2019 4 min read Opinions expressed by Entrepreneur contributors are their own. Saying that entrepreneurship is not for the faint of heart is an understatement. Being an entrepreneur is a risk. It involves a level of uncertainty that can bring even the biggest of business giants to their knees. Statistics show that many businesses fail within the first few years. If we dig a bit further, it’s fairer to say those who run the businesses have failed, and you don’t want to be one of those people. The thing about leaping into the unknown is that there’s one subject that you’ll have to become the most acquainted with that no one else can tell you much about — you. Entrepreneurship teaches you things about yourself that you never knew, exposing what you need to grow into who you were created […]

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4 Common Traps When Starting a Nonprofit

What to watch out for before launching your altruistic business. August 12, 2019 4 min read Opinions expressed by Entrepreneur contributors are their own. The idea of creating, running and growing a successful nonprofit organization appeals to a lot of entrepreneurs and business leaders. That makes sense, since those who hold leadership roles tend to value the notion of improving conditions for underserved communities or want to advance environmental and social causes important to them. However, it can also present a minefield of potential traps for the unwary to navigate. That’s why it’s important to identify the following potential obstacles before you undertake the arduous process of securing 501(c)(3) status from the Internal Revenue Service.  1. A 501(c)(3) nonprofit is limited in many ways. The 501(c)(3) is what most of us think of when we say “nonprofit.” It’s an entity named after the special section of the tax code that governs it, and it’s limited […]

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If You Love Doing Something, Chances Are That Other People Do, Too. Here’s How to Start an Experience-Based Business.

Catch the trend of entrepreneurs starting successful businesses based around customers’ desire for fun and unique experiences. August 11, 2019 4 min read Opinions expressed by Entrepreneur contributors are their own. Jenn Nicken was working as a marketing executive at Apple when she became so inspired by the cooking classes she was taking that she decided to launch a company, The Chef and the Dish, that offers live cooking classes over Skype from renowned international chefs. Alexandra Kenin has a somewhat similar story. She became hooked on urban hiking after moving to San Francisco to work at Google. She ended up starting her own business leading like-minded hikers on urban excursions around the city, called San Francisco Urban Hikers.  What these women have in common isn’t just that they both moved from great tech jobs to careers in entrepreneurship. It’s also that they tapped into the same trend – a growing market-demand for […]

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Over-Promising is the Worst Mistake an Entrepreneur Can Make

Nothing will underwhelm clients and customers more than under-delivering. August 9, 2019 5 min read Opinions expressed by Entrepreneur contributors are their own. In the shipping industry, expectations are often based on externalities. As a business owner, I can’t guarantee USPS or FedEx will get a package to someone on time. They probably will, but I can’t guarantee it. And yet, that’s exactly what I did when I started my first logistics company. I had seen delivery guarantees work in the past, and I promised a certain timetable based on that experience. Of course, it didn’t play out the way I’d promised. Packages weren’t being delivered in the windows the clients were expecting. They were calling us, asking what was going on and questioning whether this would hurt their own timelines. We were in a panic, trying to figure out what was going on and doing everything we could to […]

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Why You Should Trust Your Gut, Both in Parenting and Entrepreneurship

Jessica sits down with the CEO of Health-Ade Kombucha to talk about business, maternity leave and motherhood. August 9, 2019 2 min read Opinions expressed by Entrepreneur contributors are their own. Daina Trout first learned how to brew kombucha at Tufts University where she earned Masters’ degrees both in Nutrition and Public Health. After graduation, Trout moved to Los Angeles and in 2012, she co-founded Health-Ade Kombucha with her husband, Justin Trout, and best friend, Vanessa Dew. What started as a small production in Trout’s apartment closet has become a national brand available in more than 20,000 grocery stores and health food markets, including Target, Whole Foods and Costco. She sat down with Jessica Abo to discuss her company’s success and her advice for new parents trying to juggle it all.  Related: This Starbucks Executive Shares How Your Company Can Make a Positive Social Impact Entrepreneur Network is a premium video network providing entertainment, […]

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Before You Start a Business, Make Sure You Have a Safety Net. Here are 13.

When you start a business, you need to be prepared for every eventuality. August 9, 2019 8 min read Opinions expressed by Entrepreneur contributors are their own. All entrepreneurs need a parachute. Because, whether you’re selling a product or a service, starting a new business involves risk. I’ve been an entrepreneur all my life, and, looking back, I’ve relied on safety nets at every stage in my career. I think not having the right safety net is what stops a lot of people from pursuing their entrepreneurial ambitions. Before I list 13 safety nets you can rely on, I want to illuminate how they have helped me launch, sustain and grow different businesses. Related: The Complete, 12-Step Guide to Starting a Business When I was in my early twenties, I began designing products. The first one was a novelty baseball cap that had foam fingers you could rearrange to send a message, […]

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How to Think About Economic Moats When Starting a Business

Just like in a medieval fortress, an economic moat will keep competitors out by creating barriers. August 2, 2019 5 min read Opinions expressed by Entrepreneur contributors are their own. Warren Buffett, the investment oracle from Omaha, famously looks for businesses with “moats” that can all but guarantee returns over time. As investors’ returns are taken from a firm’s profits, finding and establishing a moat would appear to be universally good advice in business. So can entrepreneurs gain from thinking about moats for their startups? Related: 8 Financial Tips for Entrepreneurs Launching a Startup A moat, according to Investopedia, is a “business’ ability to maintain competitive advantages over its competitors in order to protect its long-term profits and market share from competing firms.” Indeed, an economic moat, just like the medieval fortress original, keeps competitors out by raising barriers that lessen threats and make take-overs more difficult. A moat is a defensive […]

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How Two Stanford Dropouts Built a $2.6 Billion Company In Just Two Years

What you can learn from the initial stumbles and eventual success of Pedro Franceschi and Henrique Dubugras. July 26, 2019 7 min read Opinions expressed by Entrepreneur contributors are their own. While most elementary school students spend hours playing in the park with friends, Brazilian wunderkinds Pedro Franceschi and Henrique Dubugras had a different pastime: coding. Pedro was the first to jailbreak the iPhone 3G and the first to build software to make Apple’s Siri virtual assistant speak in Portuguese, while Henrique was just 12 years old when he started coding and programming video games for himself.  The two met on Twitter, which was the beginning of a successful working relationship spanning multiple ventures. When they were just 16 years old, they started Pagar.me, Brazil’s first developer-friendly payments processor, raised $30 million for it and employed a staff of over 100 before selling the company and starting college at Stanford University. After […]

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Can You Build a Million-Dollar Business Starting With Just $100 on Fiverr? Here’s a Plan to Do Just That.

Andrew Medal reveals a Fiverr plan that he says can get your business up and running efficiently — and cheaply. July 23, 2019 5 min read Opinions expressed by Entrepreneur contributors are their own. If you’re building or starting a business, then Fiverr is an excellent resource to get some of the time-consuming work done. For those unfamiliar with the website, it is a marketplace where people can buy and sell services. What makes it different from its competitors is that gigs can start as low as $5. From there, price points go up based on experience, value and any additional extras the seller may offer.  I’m a big fan of Fiverr, so much so that we’ve partnered with them on my Entrepreneur-hosted podcast that can be found here. And, as partners, they’re providing all of my readers and listeners 10% off with our promo code AA. Related: 5 Ways Fiverr Jump-Started My Life as an […]

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The One Thing You Must Do If You Want to Be a Successful Freelance Writer

Why you’ll need to create a schedule and stay focused — or quickly find yourself out of work July 18, 2019 5 min read Opinions expressed by Entrepreneur contributors are their own. The following excerpt is from Laura Pennington Briggs’ book Start Your Own Freelance Writing Business. Buy it now from Amazon | Barnes & Noble | Apple Books | IndieBound The freedom of freelancing makes it easy to think that you can work whenever you want to, right? Although this is true, it’s going to require a lot of self-discipline, especially as you move out of a traditional work environment and into a freelance one. Many well-meaning freelance writers struggle to get their business off the ground after they leave a traditional job and don’t have a plan in place for that transition. If you’re like me, one of the biggest reasons you’re looking to grow a part- or […]

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3 Proven Ways Your Business Can Disrupt That Well-Established Industry It’s Struggling to Enter

You’re far more likely to succeed if your business disrupts an existing industry rather than starts a new industry from scratch. July 17, 2019 7 min read Opinions expressed by Entrepreneur contributors are their own. Our world has no shortage of entrepreneurs: As Entrepreneur‘s Grace Reader wrote, citing Kauffman startup index data, each month, about 550,000 ambitious souls launch a business. And all these entrepreneurs no doubt fight for a chance to be the best at what they do, in the market where they do it — from baking the best pastries in town to creating a user experience to rival that of Facebook or Instagram. Related: Want to Disrupt an Entire Industry? Here Are 3 Tips From the Future. Sadly, though, 20 percent of businesses fail in their first year of operation and only 50 percent make it into their fifth year, according to the U.S. Small Business Administration Office Of Advocacy. And that reflects what […]

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Gain Financial Freedom With Your Own Ad Agency

This online course shows you how to start a marketing ad agency for greater flexibility at work and at home. July 5, 2019 1 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. The startup boom made it pretty clear that a lot of people would love to launch their own idea and work for themselves. If you’re craving the creative and financial freedom that comes with your own business but can’t seem to get started, How to Start a Marketing Ad Agency is the online course you need to succeed. Entrepreneur Justin O’Brien uses his experience flipping affiliate sites and marketing more than 500 businesses to show you how to start your marketing ad agency. In just two hours […]

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Make Your Dream Company a Reality With This Class

Startup pros Ben Lee and Karl House will walk you through every step of business development. July 4, 2019 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. When you start outlining some of your startup ideas, moving past the dreaming stage can feel overwhelming. You’ve got to nail down your company’s purpose and vision, raise capital, hire a team and create a seamless customer experience. If you’re lucky, you’ll sell your successful business and walk away with plenty of money to invest or start another venture. If you want to make your own luck, you’ll sign up for From Napkin Sketch to Multi-Million Dollar Exist: How To Launch, Grow and Sell a Startup. Ben Lee, the founder of […]

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Eric Yuan Explains the 6 Simple Tactics He Used to Build Zoom Into a $20 Billion Business

The founder and CEO discusses how risk taking and passion fueled Zoom’s multi-billion-dollar growth. July 2, 2019 8 min read Opinions expressed by Entrepreneur contributors are their own. Anyone familiar with video communications giant Zoom’s growth story knows that its successful IPO was no fluke. Since Eric Yuan started the company in 2011, it has amassed over 2,000 employees, does over $120 million in quarterly revenue, is at a market cap of over $20 billion, and yes, it is profitable, too. To get behind the scenes of Zoom’s rise to prominence in a crowded space, I interviewed Yuan, who started the company as a sole founder and endured the ups and downs of Zoom’s business from day one. He shared with me the six principles that were pivotal to him building and scaling Zoom. 1. Have deep domain expertise Though Yuan started Zoom from scratch, he was no stranger to video communications. Being a […]

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Turn Your Business Idea into a Profitable Reality With This Course

Learn to launch your business into the stratosphere. June 28, 2019 1 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. Everyone has a million-dollar idea they’ve been sitting on, but only a select few actually turn those ideas into a reality. The trick is knowing the best strategies to not only launch a business into the stratosphere but maintain it and keep it fruitful despite the ever-changing business landscape as well. Need a shove in the right direction? This Startup Master Class Bundle will show you the way. This eight-course collection packs wall-to-wall insights for killing it as an entrepreneur. You’ll uncover all the secrets for everything from finding investors and getting funding to marketing your business and accelerating […]

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How to Go From Product Idea to Mass Production When Starting a Business

These seven steps will help you bring your product idea to life when starting a business. June 7, 2019 6 min read Opinions expressed by Entrepreneur contributors are their own. Have you ever had an idea that burned brightly in your mind, but you had no idea how to get it started? Most entrepreneurs have. This frustration can be especially prevelant for startup OEMs — Original Equipment Manufacturers who have developed some invention, gadget or machine idea and are seeking the best route to go from idea stage to mass production. Related: A Race Car Driver, a Finance Wiz and Some Rocket Scientists Joined Forces to Build the Ultimate Phone Protector Another burden that many startups have to bear is seeing someone else develop, mass-produce and market an idea that they have had for a while, because they were dragging their feet for too long. I know from experience that the later pain is heavier, so it […]

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Learn to Build a Lean, Thriving Business With This $29 Course

June 3, 2019 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. You might not be a marketer. You might not be an accountant. You might actually be the worst designer to ever attempt a logo. But if you’re launching a lean online company, you need to be prepared to play every role — and more. If that’s totally intimidating, an online training, like the Master of Online Business Bundle, is a great place to start. Taught by Jerry Banfield, an online entrepreneur and popular marketing instructor, this bundle features 171 hours of training that you can access 24/7. With his personal specialty being marketing, it’s no surprise that the training is a top-notch guide to mastering the marketing […]

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Got Dumped? Congrats, You’re Now Ready to Start a Business!

Learning to deal with painful personal relationships prepares you for all the ups and downs of starting a business. May 31, 2019 4 min read Opinions expressed by Entrepreneur contributors are their own. “I’m not sure I can do this anymore.” “My heart hurts.” “He literally just stopped responding to me.” “It seems like it’s happening for everyone else, when is it my time?” “I don’t want to start over. I’ve worked so hard on this. I will feel like a failure.” “I’m way past my prime. I should have figured this all out by now.” These are all things I’ve said to my mom. Via text. In person. On the phone. You’re probably thinking I was venting to my mom about some guy I was dating. You’re equally right and wrong. Let me explain. I am 37, single and have dated every type of man there is. And also, I am an entrepreneur.  […]

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