A sole proprietorship is a business structure owned by one person. In this entity, there’s no legal distinction between the owner and the business, which means the owner is entitled to all of the profits. The main downside is that the owner is personally financially responsible for legal liabilities and debts the business incurs. We…
What Is A Startup?
The term “startup” gets casually thrown around by so many people and so many organizations that it’s hard to know what the heck it means. Here’s a clear definition: a true startup is a business that is laser-focused on accelerated growth, increasing revenue from 100x to 1,000x current levels. In recent years, the valuation cap…
How to Start a Food Blog
Foodies can learn how to start a food blog in as little as one day. When starting a food blog, you’ll need some equipment, such as a digital single-lens reflex (DSLR) camera or high-quality smartphone, plus editing software for your photos and blog hosting. According to ZipRecruiter, the average food blogger earns $40,935 per year….
How to Start a Personal Training Business [With Plan]
A personal training business helps clients improve their fitness level. Learning how to start a personal training business is simple when you follow a step-by-step process beginning with research and a business plan. To help secure clients, build a personal brand. A full-time personal trainer can earn between $30,000 to $150,000 a year. Before starting…
Debt Financing: The Ultimate Guide
Debt financing is the most common form of small business financing. It involves borrowing funds from a lender and repaying the borrowed amount—plus interest—over a set period of time by means of regularly recurring payments. Common forms of debt financing include loans, lines of credit, and credit cards. What Is Debt Financing? Debt financing provides…
How to Come Up With a Business Idea
Coming up with a business idea is the first step to starting a business. To begin, you can identify problems you or others are having. Some people take an unstructured approach to determining how to come up with a business idea. Others are more efficient when following a step-by-step process that guides their brainstorming sessions….
LLC Electing S-corp Status: What, Why & How
A limited liability company (LLC) electing S corporation status for tax purposes could lessen a business’ tax bill by thousands of dollars. An LLC pays a 15% self-employment tax on profits, while an S-corp only pays 15% on the owner’s salary, not the entire profit. You can file IRS Form 2553 to elect as an…
What Is an LLC & How to Register
An LLC stands for limited liability company. It protects a business owner’s personal assets in the event that legal action is taken against the business. LLCs have the tax advantages of partnerships combined with the limited protection of C-corporations. State fees to register an LLC vary, ranging from $40 in Kentucky to $520 in Massachusetts….
What Is a Convertible Note? Examples & How It Works
A convertible note is a short-term debt that has an interest or discount rate, a valuation cap, and a maturity date. Investors use convertible notes to invest in startups in the early stages of development. Investors can choose to convert convertible notes into preferred shares on a specific date or event. What Is a Convertible…
40 Seth Godin Quotes for Entrepreneurs
Seth Godin is an American author, public speaker, and entrepreneur, considered to be one of the most influential minds in modern marketing and business. He wrote 18 international bestsellers, published in over 35 languages. Godin’s insights in leadership and innovation make him the perfect source of inspiration for professionals and entrepreneurs the world over. Here…
40 Dale Carnegie Quotes on Self-improvement for Entrepreneurs
todDale Carnegie’s quotes on salesmanship, public speaking, and communication skills are a source of timeless inspiration for people, in business and personally. He was a well-known writer and lecturer who designed numerous courses on self-improvement and entrepreneurship. He also published numerous books full of wisdom that many people still read today. Here are 40 Dale…
How To Open A Bar in Six Steps
When deciding how to open a bar, you should begin by researching different types of bar businesses (sports bar, pub, brewery). In general, bars can be expensive to start, with costs ranging from $150,000 to more than $1,000,000, depending on how much space and the type of liquor and food licenses required. Here’s how to…