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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The Tools, Resources and Mindset You Need to Succeed

Never underestimate how much money you need to start, how long it will before you turn a profit or how hard you will have to work. May 31, 2019 11 min read Opinions expressed by Entrepreneur contributors are their own. Is one of your main goals for your life to start your own business? Maybe building your own business has been on your bucket list for a very long time? Don’t begin with your current employer; you’ve already heard the success rate or lack thereof for new startup businesses. We all have the success ratio of business failure seared into our brains. According to the U.S. Small Business Administration, 30 percent of businesses fail within their first year and around half of all businesses close-up shop within five years. Only a third of businesses will make it to their tenth anniversary. There are a number of factors why so many businesses don’t […]

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I’m ‘Risking Everything’ to Change the Sport

Many have tried to launch a new sports league. Few have succeeded. But that hasn’t discouraged the star, who’s trying to revolutionize his sport by competing against the league he once played for. May 30, 2019 7 min read This story appears in the June 2019 issue of Entrepreneur. Subscribe » Lacrosse may not be the most popular sport in America, but this summer it may beat everyone else out for sheer business drama. The sport has been dominated since 2001 by an organization called Major League Lacrosse (MLL), and its most famous player was Paul Rabil. But Rabil was frustrated with his old league. So he hung up his cleats and, along with his brother Mike, decided to launch a competitor. Their new Premier Lacrosse League (PLL) kicks off on June 1, with games airing all summer long on NBC. They poached many of MLL’s greatest players and are […]

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8 Mistakes First-Time Founders Make When Starting a Business

Money, market, speed and fatigue are all factors that can undo the best business idea. May 16, 2019 7 min read Opinions expressed by Entrepreneur contributors are their own. I love first-time founders. They’re true believers focused on creating a better future powered by better ideas. They’re ready to start a business, possessed with the passion and the grit to enter the arena and do battle with the specters of failure and loss. When they succeed, they often really do change the world—and the bank balances of a lot of people around them. And it’s because I love them that I say, with all due respect: They make a lot of mistakes. And a lot of times, they make the same ones a thousand other first-time founders have made before them. Related: The Complete, 12-Step Guide to Starting a Business As a lawyer who’s worked with clients to complete hundreds of venture financings […]

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Use These 3 Strategies for Your Food Startup to Stand Out and Take Off

If you’re building a food startup, take these tips into consideration. May 16, 2019 5 min read Opinions expressed by Entrepreneur contributors are their own. After Beyond Meat’s historic IPO, I’ve been reflecting on what makes a startup heat up and take off. Every year, we see hundreds of innovative new entrants into the food and beverage category that “wow” consumers, investors and big brands. These startups are attracting significant investment from traditional venture capital firms and, increasingly, big food companies looking to develop great young brands. From 2013 to 2018, food and beverage startups raised $9.5 billion across 2,100 deals globally. And it’s safe to say that larger food and beverage companies have officially entered the venture capital game, with $1.08 billion invested across 99 deals in 2017 alone. Despite all the great talent out there and historically low retail barriers to entry, the hard truth is that many of […]

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8 Tips to Get Your Business Going, Even if You Don’t Know Where to Start

Follow these tips if you want to start business but don’t know where to start. Opinions expressed by Entrepreneur contributors are their own. If you want to start a business but don’t know where to start, don’t worry — you’re not alone. In fact, given the new economic reality of our time, more people than ever have found the “job” they thought was waiting for them doesn’t exist. Others have come to the conclusion that they would rather create work they love, constructed to fit with their own life goals. No matter what the motivation is to be your own boss, you can start today. Here are eight tips to get you started: 1. Take a stand for yourself. If you are dissatisfied with your current circumstances, admit that no one can fix them except for you. It doesn’t do any good to blame the economy, your boss, your spouse or your […]

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5 Reasons to Buy a Successful Business Instead of Starting a New One From Scratch

Eliminating some of the unknowns of a new venture can give you a jumpstart on success. May 7, 2019 7 min read Opinions expressed by Entrepreneur contributors are their own. Are you considering starting a new business? Maybe this is your first or maybe you’re a serial entrepreneur with a few successful businesses under your belt and your next brilliant idea just hit. You’ve got your ducks in a row, business plan mapped out, motivation at an all-time high, and you’re ready to go full speed ahead. But…maybe you shouldn’t. The harsh reality is, most new businesses fail. According to data from the Bureau of Labor Statistics, about 20% of small businesses fail in their first year, 50% fail in their fifth year, and 70% fail by their 10th year. A CBInsights analysis of 101 startup founders found these are the top reasons why new businesses failed: ● 42% of small businesses failed […]

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These Are the 20 Best Cities to Start a Business

WalletHub’s annual survey gives valuable insight into where to set up shop. May 6, 2019 2 min read You can start a business just about anywhere, but some locations might lend themselves better to your company’s long-term prospects. Personal finance website WalletHub looked at 100 cities in the U.S. and compared them based on three different categories: business environment, access to resources and business costs. The top 20 top cities are: Orlando, FL Oklahoma City, OK Miami, FL Austin, TX Tampa, FL Charlotte, NC Durham, NC Raleigh, NC Atlanta, GA Denver, CO Fort Worth, TX Jacksonville, FL Houston, TX St. Petersburg, FL Dallas, TX San Antonio, TX Irving, TX Laredo, TX Oakland, CA Irvine, CA The survey found that number three on the list, Miami, Florida, is home to the most startups per 100,000 residents at 234.72, which is 3.2 times more than in Winston-Salem, North Carolina, which is the […]

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4 Signs You’re Expert Enough to Launch a Consulting Business

You don’t need a lifetime of experience to start a successful and helpful consulting business. May 3, 2019 6 min read Opinions expressed by Entrepreneur contributors are their own. Consulting has quickly become one of the most attractive ways to be your own boss. From providing online training sessions and seminars to one-on-one consultations with other entrepreneurs, there are several avenues available for consultants to make a living. Unfortunately, many people cut themselves off from this opportunity simply because they don’t feel that they are enough of an “expert” in their preferred consulting niche. In reality, while some level of experience is necessary, you don’t need to have a master’s degree or 20 years of industry experience to make it as a consultant. In fact, there’s a good chance you already have everything you need to be a success. If any of these traits describe you, you may want to consider […]

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To Succeed at Business You Need a Startup Mindset

Scalability, innovation and disruption come at a high cost. April 24, 2019 6 min read Opinions expressed by Entrepreneur contributors are their own. Startups are born to scale. They’re created to search for and validate a scalable business model in a way that can have a major impact on the market or how a problem has traditionally been solved. The innovation, disruption and scalability aspects of a startup are why they are different from small businesses and more importantly, why they can’t be treated or built as a small business or subversion of a large company. Small businesses are created to generate profits and secure local market share. Although small businesses also have the potential to grow into large companies, the driving force behind their growth is national and international expansion through larger teams, supply, manufacturing and distribution channels. When WhatsApp was acquired for more than $19 billion, it only […]

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Where Should You Locate Your Business? Here Are 5 Vital Things to Consider.

Non-capital resources like working space, proximity to universities and strong networking opportunities count for a lot. April 2, 2019 6 min read Opinions expressed by Entrepreneur contributors are their own. You’ve heard it before: Most startups fail. Even with the most generous possible accounting, it’s estimated that at least 70 percent of tech startups will eventually flame out. Yet startups are raising more capital than ever before. When the dust settles, it’s expected that venture capitalists will have pumped over $100 billion into the U.S. market last year. With so much money available, why aren’t startup success rates going up? Maybe because money isn’t the problem. When startups are figuring out where their business is going to grow, there are critical, non-monetary resources that they must consider. And picking the right place could mean all the difference in when — and whether — their business grows. The real estate adage […]

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How to (Politely) Get Someone to Sign a Non-Disclosure Agreement

It’s a tricky request that can sink a pitch before anyone ever hears it. April 1, 2019 5 min read Opinions expressed by Entrepreneur contributors are their own. When you are starting out in business with little more than a concept, it’s natural to want to protect your idea. You imagine someone with more money, experience and influence than you scooping it up and leaving you their wake with little more than the bragging rights to say, “I thought of that!” So you may be tempted to ask everyone you pitch to sign an NDA (non-disclosure agreement), but be warned, you risk annoying or offending potential investors and partners before the relationships has even gotten off the ground. At the end of this article, I will share with you a great approach for getting people to sign one without any hard feelings, but before I do, I want to shed some light on the reality […]

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3 Ways to Discover a Business Idea That Works

A business idea doesn’t have to blow people’s minds, but it can’t make their eyes glaze over, either. Here are three ways to find your entrepreneurial sweet spot. April 1, 2019 5 min read Opinions expressed by Entrepreneur contributors are their own. There are plenty of good business ideas floating around, and not all of them are unique. In fact, new companies successfully go to market in saturated industries all the time, and most aren’t especially disruptive. Some just take advantage of a humongous market. Entrepreneurs in the food and beverage space, for instance, know that people will always be hungry and thirsty. Most consumers have countless options to choose from when they want to meet these basic needs, but if a new product stands out — whether because of superior taste, branding or nutrition — they’ll often reach for it. Or take the multibillion-dollar market for razors. Entrenched players […]

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10 Things to Consider When Choosing a Location for Your Business

Consider how accessible the facility will be for everyone who’ll be using it–customers, employees, and suppliers. If you’re on a busy street, how easy is it for cars to get in and out of your parking lot? Is the facility accessible to people with disabilities? What sort of deliveries are you likely to receive, and will your suppliers be able to easily and efficiently get materials to your business? Small-package couriers need to get in and out quickly; trucking companies need adequate roads and loading docks if you’re going to be receiving freight on pallets. Find out about the days and hours of service and access to locations you’re considering. Are the heating and cooling systems left on or turned off at night and on weekends? If you’re inside an office building, are there periods when exterior doors are locked and, if so, can you have keys? A beautiful office […]

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How These 2 Brothers Started a Company Together While Living in Different Cities

This is the story of how theChive.com got started. March 22, 2019 1 min read Opinions expressed by Entrepreneur contributors are their own. Brothers John Resig and Leo Resig founded Chive Media Group and its flagship site, theChive.com, in November 2008, with no capital and a lot of hustle. Leo was living in Chicago (the “CHI” in “CHIVE”), and John was living in Venice (the “VE”). With backgrounds in digital publishing and the financial backing from partner Doug Schaaf, the Resigs were able to turn a three-man project into the nationwide, 170-employee entertainment digital media company that Chive Media Group is today. Read_More Related posts: This Entrepreneur Quickly Grew His Chickpea Pasta Company by Being Scrappy and Bold and Borrowing Tech Company Tactics This Is the Living Wage You Need in All 50 States This Man Started His Own Content Company and Got 20 Million YouTube Views With Kevin Hart This […]

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The Story Behind the Coffee Company That Fuels Google, Microsoft and Facebook

Verve Coffee, started in 2007, operates 12 cafes, has a hefty B2B business and recently launched a canned beverage. March 21, 2019 7 min read What do Google, Microsoft, Facebook, Airbnb and Salesforce have in common? Plenty of things, of course, but one odd detail is that many of their employees are drinking Verve Coffee. The company, founded in 2007 by Ryan O’Donovan and Colby Barr, helped bring the so-called “third wave of coffee,” in which coffee consumers started becoming invested in how their brew was prepared and where the beans were sourced from. Related: How This Coffee Startup Rocketed to National Retail Within a Few Months of Its Launch What started out as a single cafe in Santa Cruz has evolved into an international business. Verve now runs nine standalone cafes in California — including one on Facebook’s Menlo Park campus — and three in Japan, and also provides coffee for […]

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5 Steps for Turning Your Invention Ideas Into a Product

Now that you have all of the kinks worked out of your design, it’s finally time to file a patent. There are two main patents you will have to choose from: a utility patent (for new processes or machines) or a design patent (for manufacturing new, non-obvious ornamental designs). You can write the patent and fill out the application yourself, but do not file it yourself until you have had a skilled patent professional look it over first. If the invention is really valuable, someone will infringe on it. If you do not have a strong patent written by a patent attorney or agent, you will be pulling your hair out later when a competitor finds a loophole that allows them to copy your idea. It’s best to get the legal help now to avoid any legal problems in the future. Follow these steps to help you choose the best patent […]

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9 Business Ideas Under $1,000 You Can Run From Anywhere

February 15, 2019 11 min read Opinions expressed by Entrepreneur contributors are their own. Looking to start a business and refuse to be tied down to an office? Turns out you can start a company from the comfort of your own home — or better yet, from an exotic far-flung beach — for under $1,000. How is that possible, you might ask? Technology. Maria Dykstra, co-founder of TreDigital, a digital growth agency based in Washington D.C., has built her company around technology and allows her employees to work remotely. “A lot of how we work is online,” she says. “We use Google Docs, a lot. File sharing, video sharing, conferencing, emailing.” Being comfortable with technology is incredibly important for making a digital business successful, as well as letting customers know that you are traveling. And despite what most people think, travel can be relatively inexpensive. According to Nomad List, a […]

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