Startup leaders can take advantage of the predicted growth of the US economy and position themselves for the future. Focus on ensuring the right team members are in place along with strategies to retain them, look for gaps in the supply chain and reevaluate the sales process, writes Joe Galvin, an executive at Vistage.
Startups face countless unknowns, so it's important to maintain a cash safety net. Bernhard Schroeder of San Diego State University's Lavin Entrepreneurship Center outlines four ways to preserve funds, such as avoiding purchases of items that are nice to have rather than necessary and understanding business tax structure.
Julian and Jennifer Foster, who took over Carolina Classic Car Rentals two years ago, have a fleet of cars that include Rolls Royce and Cadillac models. The duo have full-time jobs in the medical field, and they say business is picking up after difficulty linked to the pandemic.
To ensure marketing spend is allocated correctly, there are a handful of key metrics to track, writes Pratik Dholakiya. Dholakiya offers pointers for tracking online sales, live chats and social engagement, among other factors.
Despite the benefits of working with a mentor, many entrepreneurs do not actually have one, writes Felicia Brown. Mentors can accelerate the growth of a company and help entrepreneurs avoid common mistakes, writes Brown, who discusses where to find one.
The brown-and-cream colored signs that welcome you into national forests and monuments were installed starting in the 1960s and were largely created by Forest Service ranger Virgil "Bus" Carrell. He used different shapes to denote trails, overlooks and ranger stations, with the idea that text "should develop no more than one topic and have a warm tone."
Entrepreneurs make countless decisions each day, so it's no surprise that decision fatigue can set in. Members of the Young Entrepreneur Council share 10 tips for to avoid mental exhaustion, including evaluating priorities.
Investors expect special-purpose acquisition companies to begin targeting financial-technology, quantum computing and social media startups, among others, after merging with a spate of electric vehicle and greentech companies. SPACs will continue looking for strong growth in target startups, and deals in a given industry may spur other SPACs to follow, says Ran Ben-Tzur of Fenwick & West.
Fanny Miller, founder of the 33-year-old El Latino Spanish-language newspaper in San Diego, unveiled Celebrando Latinas Boutique earlier this year as a storefront for micro-entrepreneurs to offer their wares. Miller likens it to a business incubator and notes that the boutique also will host financial education workshops.
"The road to success is just conquering those small fears -- and keeping them small," Beryl Stafford, founder and president of Bobo's Oat Bars, writes in this commentary. Stafford offers six tips for women entrepreneurs, such as how to attract the attention of the right investors, what you need to know in the boardroom and the best ways to reach your target audience.