All The Entrepreneurial Mind
From conception to creation, an entrepreneur鈥檚 journey to successLike many before him, hopeful entrepreneur Jason worked on a business he wanted to launch while in Dr. Cornwall's program. His plan was to move to Montana and open a coffee shop. However, as is often the case, nothing went according to plan
Accidental entrepreneurs a side effect of a weak economyThe number of accidental entrepreneurs, who started businesses after finding themselves unemployed and unable to find work, has doubled over the rate found before the recession began (from 9 percent to 18 percent). And a good chunk of those are struggling to make end's meet.
The new elevator pitch: Now in five slides or lessMaking that initial pitch to potential investors is an essential, and often terrifying step in the start-up process. Conventional wisdom encouraged a pitch of ten Powerpoint slides, but a new trend is pushing consolidation and concision, limiting entrepreneurs to just five slides.
Feeling lucky? Entrepreneurs may need all the luck they can getDr. Cornwall offers up an assessment of the mind-set of the entrepreneurs and the other small business owners with whom he crosses paths. Just a warning: it's not overly optimistic.
April showers bring May flowers, not entrepreneurial growthWhile a new crop of May flowers may be blooming in Dr. Cornwall's garden, our entrepreneurial expert is less than sunny about the recent lack of growth shown by US small businesses, as measured by a variety of indices.
Following the value proposition to entrepreneurial successThe value proposition is the collection of things a new business offers to the target market to satisfy a specific need, attracting customers away from the other competitors. Entrepreneurs must find solutions for the problems and needs that follow disruptive industry trends.
Starting a business? Structure is key.To be effective, the organization鈥檚 structure needs to align with the overall market strategy that the business is pursuing. As your business grows, make sure each new decision you make is beneficial to the mission statement of your company as a whole.
What the next generation of entrepreneurs will look like'Generation Z' 鈥� the children of Generation X 鈥撀� will be driven, high achievers for whom the constantly connected, social media world is ubiquitous. And the older generations will have to get used to their multi-tasking personalities
How to find a small business-friendly bankUsing FDIC data, one online tool grades banks on their commitments to small business lending.
Making your new business noticeableWhile starting a new venture is one of the most important and exciting things you鈥檝e ever done, to the market your product is just one more in an already overcrowded sea. You need a strategy to ensure that your new small business is more than just another distraction to be ignored.
When starting a business, delegate, delegate, delegateMany entrepreneurs fall into the trap of thinking that no one can do a job as well as they can. But a business can't grow without successful delegation.
When lightning strikes, proceed with cautionMost entrepreneurs dream of getting their big break, but make sure you're ready for it.
The best business model is a fluid oneDeveloping a business model isn't聽 a one-time event. It's an ongoing process that should help your business grow and change with the demands of the market
Want your business to grow? Learn how to step awayOnce a business starts growing, the entrepreneur faces a challenge: do they work in the business or work on the business?
Avoid the backward start-upMany entrepreneurs start with a backward business model. The key is to look to the market for ideas rather than force your product on the market.
In business, more money is not always a good thingBy taking large amounts of money from investors, you give up some control over your business. A better strategy is to only raise money when you truly need it.
