Entrepreneurship is the process of designing, launching and running a new business, which is often initially a small business. The people who create these businesses are called entrepreneurs. Entrepreneurship has been described as the "capacity and willingness to develop, organize and manage a business venture along with any of its risks in...
Entrepreneurship is the process of designing, launching and running a new business, which is often initially a small business. The people who create these businesses are called entrepreneurs. Entrepreneurship has been described as the "capacity and willingness to develop, organize and manage a business venture along with any of its risks in order to make a profit". While definitions of entrepreneurship typically focus on the launching and running of businesses, due to the high risks involved in launching a start-up, a significant proportion of start-up businesses have to close due to "lack of funding, bad business decisions, an economic crisis, lack of market demand—or a combination of all of these. A broader definition of the term is sometimes used, especially in the field of Economics. In this usage, an Entrepreneur is an entity which has the ability to find and act upon opportunities to translate inventions or technology into new products: "The entrepreneur is able to recognize the commercial potential of the invention and organize the capital, talent, and other resources that turn an invention into a commercially viable innovation." In this sense, the term "Entrepreneurship" also captures innovative activities on the part of established firms, in addition to similar activities on the part of new businesses.
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Startup

10 ways to relieve stress with more laughter

Whether you are a working professional, a graduate student or a busy parent, stress has a way of creeping up on us in different ways. While stress can be a good motivator at times, too much stress can lead to headaches, low energy, insomnia, and much more . One way to mitigate stress is with laughter. Laughter is a natural medicine with a variety of physical and mental health benefits including improved cardiac health, lower blood pressure, and increased endorphins. For more details on the benef...
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Why startups should offer retirement plans to their employees

Many startups and small businesses think offering their employees a 401(k) plan isn't in the cards. The budget is tight, most startups think they're too small, and they don't think they can afford the administrative care. This is no longer true. It is possible for your startup to provide a retirement savings plan, and it can be affordable. In this article, we look at why startups should offer retirement plans to their employees.  You'll attract top talent You're more likely to recruit and h...
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Importance of estate planning for family businesses

Did you know that a huge number of family-owned businesses do not survive into the second generation ( 65 percent ), and, on top of that, around 20 per cent fail once it reaches the third generation? The reasons for this are many and varied. Some heirs are simply not the business leaders their parents were. Others don't have the same appetite for the sector. Others might have different risk tolerance. In still other cases, family rivalries and legal issues can tear a business apart from wit...
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5 reasons why not providing employee training costs your startup money

With unemployment rates at record lows, many large companies are recommitting chunks of their budgets to employee training. Why? This is to increase retention rates and enable their companies to keep their best and brightest team members. Yet, small businesses and startups may find themselves reluctant to provide employee training. Let's look at five reasons why not providing employee training costs your startup money.   #1: A more competitive workforce If you want to be competitive in your...
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Intuitive intelligence and entrepreneurship

"It is through science that we prove, but through intuition that we discover."  Henri Poincare  As an entrepreneur, who do you trust? If the answer is not that you trust yourself first and foremost, then you could be missing a key ingredient of successful entrepreneurship, that of your intuition. Yes, it's important to trust others too, but if you can't trust yourself, how can you trust anyone else? Sadly, our society has not valued intuition enough, instead favouring logic and reasoni...
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Data-driven ways fitness can benefit your finances

No matter if you regularly train for marathons or hit the gym a few times a month, you know that working out takes discipline, effort, and the drive to better yourself. Regularly working out and sticking to a fitness plan certainly isn't easy, which makes it that much better when you reach the goals you've laid out for yourself. Just like sticking to a fitness plan, getting your finances in shape requires discipline, drive, and commitment. Funnily enough, getting physically fit has been shown to...
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Why your startup isn’t too small to develop HR policies and processes

If you think your new business is too small for a human resources (HR) department, think again. Many new startups think they're too small for HR to matter, but this couldn't be further from the truth. You might think you can handle issues as they arise, but this leaves you open to conflict and even legal trouble. As a new startup, it's best practice to set get HR onboard in the beginning. In this article, we look at why your startup isn't too small to develop HR policies and processes from the s...
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5 tips to help you determine the value of your startup

When it comes time for startup valuation, you may wonder just how you can work out the value of your startup. The methods are important because you may not have a huge revenue stream which makes valuation a bit harder. In this article, we look at five tips to help you determine the value of your startup. After all, you want to earn this highest valuation from your investors, instead of being undervalued.   #1: Talk to your accountant, lawyer, and investors Yes, you are most often worth what...
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5 reasons why bad hires are so costly to startups

When it comes to staffing your startup, the price is high. In fact, your hiring decisions are vital to the success and upward trajectory of your startup. In this article, we look at five reasons why bad hires are so costly to startups. From the actual cost, to your time, your reputation, lost opportunities, and the culture impact, you can't afford to mis-hire. #1: The cost The straight up costs with putting your job on job boards, culling through applications, interviewing candidates, calling re...
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Why hiring veterans is a great idea for startups

To defend our country, military service members have some unique qualities that translate well into the general job market when their service is complete. Active duty military are most often the hardest workers in the room. They are also usually motivated and exceptionally ethical. As a startup, these are just the kind of employees you want to recruit . Let's dive into this and look at why hiring veterans is a great idea for startups. They are natural leaders The military trains their people wel...
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