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Showing posts with the label Business Ideas

10 Things You Must Do Before Quitting Your Job to Start Your Company

You have a dream but you need a checklist to achieve it. So you've decided you're ready to take the plunge, quit your job, and get your own company up and running. You have an amazing  ">businessidea  you are ready to launch. You're probably excited and nervous at the same time, which is perfectly understandable. If this is the case, you need to take a step back and remember that you simply can't walk into work tomorrow with your resignation letter. Being impulsive could be a huge mistake so you need to create a list of the advantages and disadvantages you will face when quitting your job. If you decide it's still what you want to do, there are a few things you must put in place before you quit.  To help you get ready before your big day of freedom, I've highlighted 10 things you should do before quitting your job and starting your own company. 1. Do research. Quitting your current job before getting your company off the ground may se

4 Lessons Learned in Getting Bank Financing

Lending isn’t quite as tight as it was after the recent economic downturn, but it’s still a delicate process. Many small- and medium-sized businesses find it difficult to obtain bank financing because they don't know how to navigate the process. But, if you’re persistent enough, however, raising the necessary capital is still possible. At Blank Label, we were offered over $500,000 in debt financing. To help you secure the financing you need, we’re going to share the four important lessons we learned about getting bank financing. 1. You might not need financing. The most important step in the process is figuring out if you even need financing. Moreover, make sure debt financing is right for you. If you don't have the cash-flow to support interest payments, but anticipate high future growth, equity financing might make more sense for you. At Blank Label, before we raised our debt, we first   raised a $1 million equity   round. Some reasonable things to take out a bank

Don't Be Afraid to Embrace Boring Ideas

Kikkerland's annual design competition results in an unexpected bestseller. Dutch design firm  Kikkerland  is known for bringing whimsy to utilitarian products -- say, a cocktail shaker in the shape of a maraca, or a portable barbecue in the shape of a suitcase. So it was surprised when one of its most successful products of the past year was a… cord organizer.  The product, the Cable Loft, was born out of Kikkerland’s annual Design Challenge, in which the brand partners with a retail company and a team of student designers, who submit problem-solving ideas for one particular challenge. For 2016, the challenge brought together The Container Store and students from the Rhode Island School of Design, who were asked to create a product for the digitally connected home. Students went through multiple rounds of presentations and  critiques  before final prototypes were submitted to buyers for consideration. Cable Loft -- an organizational home for a power strip and the

5 Ways to Validate a Business Idea, Right Now

Don't let your day job or lack of capital stop you from finding and testing a business idea. Here's how. Last year, I embarked upon a personal challenge to validate a business idea in 30 days . To make it even more difficult, it was a random idea chosen by my readers. They asked me to do it without using my existing website, traffic and business connections and without spending more than 20 hours per week on the project. On top of that, I limited myself to spending no more than $500 validating this idea. The experiment was a success . In just two weeks, I built an email list of 565 subscribers without having an actual website. Then, I reached out to a handful of those subscribers and pre-sold 12 copies of a book that didn't even exist yet, all in less than 30 days. I wrote about the experiment in real-time with in-depth weekly updates, successes, failures and lessons learned along the way,  right here in my validation challenge . Today, I want to share with

Low Cost Business Ideas

The Top 100 Low-Cost Franchises Franchises with lower costs of entry can make it easier for you to plan to be your own boss. Here's a look at the strategies behind low-cost franchising and some resources on where to find successful opportunities. Creative Ideas Arts & crafts business Creativity consultant Interior designer Jewelry Doing What You Love Freelancing your expertise Hobby business Sports business Product Sales Cart/kiosk Direct sales eBay Gift basket Swap meet sales Even More Ideas 6 Senior Care Ideas 9 Pet Businesses 25 Part-Time Business Ideas 105 Service Businesses Weekend Businesses Ideas B-to-B Businesses Bookkeeping Business support Consulting Desktop publishing Manufacturer's rep Medical claims Security specialist Seminar production Transcription service Virtual assistant business Personal Services Child-care Elder Care Financial Advisor Organizer Personal concierge Personal shopper Remode