Sir Richard Branson, British business magnate, author, investor, philanthropist and billionaire owner of the Virgin Group of businesses once said, “Business opportunities are like buses, there’s always another one coming.” As concise a statement as that is by such a prominent business person, that statement is precisely what transpired with Dan and Debra Sidon in their quest to secure small business ownership.
We often ask ourselves where great ideas come from. The answers are many and varied but for Dan Russell of Butt Be Dry the answer was simple.
Russell and his Dad were attending an LPGA Championship event in Rochester a couple of years ago. It had rained heavily the night before and although it had dried out and the ground appeared dry, when Dan sat down to watch the match he found the seat of his pants soaked and covered with mud. He and his Dad had a good laugh, but right then a great idea was formed that just needed some nurturing.
Freelance work is on the rise, and many individuals are working hard to turn self-employment into their full-time job.
While unaffiliated workers are often comfortable in their at-home surroundings, they can easily become socially and professionally disconnected. Deciding to utilize a co-working space can be the risk-free, cost-effective way to get everything you need; a middle ground between comfort, social interaction, and a professional brick-and-mortar to work out of.
As advisors and community economic-development specialists, we are often approached by individuals who are looking to start a business or expand an existing one with one common question: “Are there any grants available for my business”?
There is a simple and a complex answer to this question. The simple answer is yes there are some grants available, and the complex answer is that the grants offered may not apply to your business.
As a business advisor for the Onondaga Small Business Development Center (SBDC), I frequently encounter entrepreneurs with great ideas for new businesses.
Most often, they are convinced that they have a business model that will be successful in the marketplace. Whether it is high-tech or low, product, service, or a combination of both, they are convinced that it is a winner.
So much these days is written about entrepreneurship, but perhaps too little is written about the entrepreneur. What is an entrepreneur exactly?
In fact the word itself has seen dramatically increasing popularity in recent years, probably due, in large part, to colleges adopting entrepreneurship programs of study. But how do we define entrepreneur in dictionary terms?
Raise your hand if you can’t stop looking at your email when you are supposed to be on vacation.
As we all become addicted to our electronic devices and constant need for instant information, are we making things better or worse?
There is no doubt that being a small-business owner you probably put in more hours than the average 9-to-5 worker, but that is exactly why it is more important to be aware of the benefits of striking a work-life balance.
The best days that Central New York has to offer us weather-wise are upon us. Now is the time to get out, soak up the sun, and step away from the daily grind.
No matter what stage of entrepreneurship you are in, it is far too easy to get sucked into wearing many different hats, working too many hours each day, and never allowing yourself time to recharge. After all, isn’t this the reason you chose to become an entrepreneur? —to make your own schedule, allow inspiration and creativity, and spend more time with your families and friends.
Watch for the Five Ps in every small-business success story. This will not be the first time you have read about the importance of critical items to startup and early stage, small-business success.
After spending more than 10 years mentoring and coaching startups, I am equipped to opine on the most important Ps in early stage small businesses. These are things, in my opinion, that are essential to small-business success and I believe many of my associates would heartily agree.
There are so many things to consider when starting a business. What are the steps to become legal? What are the proper certificates to complete when the business is established? How will I ever leave my job to go off on my own? Do I have what it takes?
One thing that must be evaluated is whether your business idea will be apart of a fad or a trend. That is why market research is so important to making your business become a successful business operation.
Scenario 1 – You just got out of a meeting with your boss and the HR representative. Surprise! Your job has been 'eliminated.'
Scenario 2 – You retired early from your first career and still feel like working.
Scenario 3 – You hate your job and want to work for yourself.
In all three scenarios you have a choice to make – do you start your own business or try to get hired by an employer?
A great way to begin building a business is to do it while you still have the security of a steady paycheck, benefits, and paid time off.
Before you take the plunge, quit your job, and dive into an entrepreneurial endeavor of any magnitude, take time to explore and reflect on key issues. Use these tips to minimize your risk, ensuring that your idea is feasible and needed in the marketplace.
What does MWBE stand for and what does it mean for your business?
Minority and Women Owned Business Enterprises can be a great way to open up many new business opportunities within your industry. No, grants are not something you will automatically get with having this certification and no, it does not ensure you will get a bid on a job you are going for but, it will give you an edge over a company who is not certified and is trying to get opportunities with the government.
Ok, still confused by what it really means for you?
For the average entrepreneur:
But can you commit all that to paper? And even if you could, why bother with a business plan at all?
Onondaga Small Business Development Center. Partnership Program with the SBA, administered by the State University of New York. Funded in part through a Cooperative Agreement with the U.S. Small Business Administration. All opinions, conclusions or recommendations expressed are those of the author(s) and do not necessarily reflect the views of the SBA. All SBA funded programs are extended to the public on a nondiscriminatory basis.