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

Payroll processing mistakes your startup needs to avoid

Mistakes happen every day in the business world, and some are more forgivable than others. Payroll isn't on the list of forgivable mistakes. Why? Payroll mistakes can be incredibly costly to your startup. Failing to comply to payroll laws gets the government involved which leads to penalties and fines. In the most extreme cases, it can even lead to jail time. What's more, when you mess up payroll, your startup's team can lose faith in you, and you may even lose staff members. To help you avoid c...
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Deliver customer value to build loyalty

Increasing global competition, ubiquitous access to a plethora of choices, personalized marketing and new consumer buying habits are making customer loyalty more critical and difficult for all organizations. The key to loyalty is delivering value to customers – in their eyes. Similar to Maslov theory of how people live in society the Elements of Value show how people make purchase decisions. It is not based on product but quality or price but recognizing and delivering an offering that addresses...
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How startups can use social media to recruit talent

Did you know that job seekers rank social media networks as the most useful resource for jobs when compared to job boards and ads, recruiting agencies, employee referrals, and recruiting events? This is worth noting because the recruiting process has changed for many companies over the last several years. Like many things, social media has solidified its place as somewhere your business needs to be. When you use social media to attract candidates, you are easily able to narrow your target market...
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Recipes for success: how top chefs achieved their goals

​There are so many routes to success. And what's better than hearing the stories of successful folks who did it their way? In creative fields, such as cooking and entertaining, tapping into your own strengths and being true to yourself is essential, and these top chefs did just that.  This graphic from Kitchen Cabinet Kings shares the unique recipes for success from eight world renowned chefs. 
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Is your startup making these 6 tax mistakes?

Launching a new business is often filled with equal parts of excitement and trepidation. It can even be overwhelming at times. Because there are so many details involved, especially when it comes to startup taxes, you want to be extra careful. Sales tax and your compliance with federal and state income tax laws creates extra challenges for most startup owners, and you want to avoid mistakes at all costs. Below are six common tax mistakes startups make that you need to be aware of. #1: Tax deduct...
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Startup Tips: Introduction to Venture Capital

Venture capital is a way of financing a startup, especially when seed rounds and investments from angel investors run dry. In a nutshell, early stage businesses with high growth rates receive funding from established firms through a dynamic venture capital ecosystem. This ecosystem can be intimidating for many new entrepreneurs, so knowing where to start and best practices is key to navigating the VC ecosystem. What is Series A funding Series A funding is commonly known as the first step on the ...
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5 key areas for startups to outsource

You're ready to launch your startup, and you know you need employees. Does the task seem overwhelming? Recruiting, hiring and training employees is an intimidating task for even the most seasoned businesses. What's more, you may not have the finances you need in the beginning to provide a salary, benefits and even office space and equipment for an entire team. This is where outsourcing comes in. Outsourcing is a terrific way for startups to take care of essential functions when your budget is sm...
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5 ways to make money if you are tired of your job

Most people who are working a 9-5 job every day of the week get tired of it at some point. Even if you love your job it can be hard to feel satisfied with doing the same thing over and over again each day. However, if you are feeling a bit burnt out and you are looking to explore something new, there are a number of things that you can do to make money that are not boring and tiresome. 1. Become a care worker If you want to find a way to give back to the community that gives you a little bit of ...
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5 team building activities for startups

​ For many employees, just hearing the words, "team building" and "ice breaker," are enough to send them on an extended vacation. While they understand your intentions, traditional team building activities can be a source of stress for some of your employees. Yet, team building activities are good for your staff and your company, so how do you encourage happy participation? Let's look at five team building activities for startups that are exciting, fun, and less emotionally painful for your team...
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Business lessons from a car salesperson

Sales is not an easy job. No matter your profession, delivering a successful sales pitch is tough and intimidating. Not only do you need to be brimming with confidence, you need to develop your own sales strategy that convinces prospective clients and closes deals. Developing a methodology takes time, however, and your strategy will look different depending on the industry you're in. For example, pitching your company's multimillion dollar business solution to a Fortune 500 enterprise will not r...
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