A vision statement presents an inspirational vision of a company to guide growth, motivate employees, and connect with consumers. Aside from expressing its goals and aspirations, the vision statement also provides a framework for strategic planning. Ultimately, a vision statement answers the question: “Where do we want to go?” Articulating a powerful vision is one…
6 Best Rollover for Business Startups (ROBS) Providers for 2021
A rollover for business startups (ROBS) is a financing solution that lets you start or purchase a business with your retirement savings without paying taxes or early withdrawal penalties. Because of the compliance requirements and complexity involved in doing a ROBS, we recommend using an experienced ROBS provider. We have compared the best ROBS providers…
Rollover for Business Startups (ROBS): Ultimate Guide 2021
A rollover for business startups (ROBS) allows you to invest funds from an existing 401(k) or individual retirement account (IRA) into your business without paying early withdrawal penalties or taxes. A ROBS is not a business loan nor a loan from your 401(k), which means there are no interest payments to make or debt to…
108 Best Business Ideas to Make Money
You may be dreaming of owning your own small business but don’t know where to start or what to choose to launch. We evaluated business ideas that anyone could realistically pursue with some training, experience, and startup capital. We also considered mostly low barrier, high-return businesses with low-cost and high-yield. Most of these business ideas…
Pros and Cons of an LLC
A limited liability company, or LLC, is a common business structure among startups and small businesses. In this case, the business is owned by its members. The business structure mainly affects legal liability and taxation, but in many ways, it can influence the very core of the business model and its daily operations. The main…
10 Tips for Naming Your Business + Free Business Name Generator
We created a business name generator to help you get started with brainstorming around business names. Simply enter your information below to get dozens of possible names for your new venture. We also put together tips that can help you on how to choose the right name for your business. Business Name Generator Terms Below…
How to Determine Foot Traffic & Choose a Business Location
When choosing a business location, you may have heard that location is everything. However, there are many factors that play into this strategic business decision. Key data points that influence this choice include foot traffic, walkability, local demographics, and community data. Foot traffic is an important indicator in determining business location, facility location, or service…
What Is a Corporation & How Do You Form One?
A corporation is a legal entity and business structure that is completely independent and separate from its owners. Corporations can make a profit, be taxed, and are legally liable. They offer the highest level of protection for its owners from personal liability but are a more expensive formation. Corporations make sense for high-risk businesses and…
19 Best Franchises Under 10K
COVID-19 has changed how we do business, but there are still franchise opportunities that are not only inexpensive but also stand a good chance of success. As part of our research, we worked directly in consult with experts at FranchiseGrade.com and selected the best 19 best franchises under $10,000. There are many ways to fund…
How Much Do Small Business Owners Make?
While it’s not realistic to start a new business with the goal of becoming a millionaire, you should be able to expect a decent living. According to PayScale, most small business owners earn anywhere from $30,000 to $145,000 a year, with the average at $69,748. However, how much you make can depend on factors like…
How to Pitch Your Business Idea
A pitch is a short summary that gets to the heart of your business idea and expresses it in a way that spurs a reaction, such as questions or an invitation to present more—or even an offer of funding. Many people think of pitches for convincing investors; but as the ambassador of your small business…
What Is Coworking?
Coworking is a simple concept: Entrepreneurs or microbusinesses share office space and equipment. Not only do they save money on leases and maintenance, but they also benefit from a community where they can learn from each other, share skills, and make connections. The concept originated in 2001 and has become a worldwide phenomenon, with many…