Friday, May 20, 2016

The People Side of Business

Owning, operating, and managing a business is about more than a final product, return on investment, or branding - it's about people.

Customer, employees, or investors - relationships in business matter. It's about more than a "the customer is always right" attitude, org charts, or business dinners to woo potential investors.

In our fast paced world of instant gratification it's easy to forget that a strong, lasting business relationship will take a dedicated effort and focused time.

Customers are your advertising (no matter how great your marketing department's plan is!). Be authentic with them, let the inside match the outside. Allow customers see into your company. In a world where we see carefully crafted profiles and accounts, have marketing propaganda thrown at us from all directions starting in infancy, it's refreshing to support a company that isn't "putting on airs" - a company that is transparent with it's customers regarding vision, causes supported, a company that lets the customer behind the scenes.

Employees are the life blood of your business - they can make or break a company. Employees have ideas, skills, and talents (that's why you hired them), don't overlook what they can offer. Communication is of the utmost importance - both vertically and horizontally! Communication styles, just like personality styles, vary widely in a workplace. The way to present or obtain information from one employee may not work with another. Know what makes your employees tick; get personal - share experiences, points of view, stories, and history. Respect and loyalty demonstrated will be returned.

Investors - whether it be financial, emotional, or resource are necessary. Seek people who desire to invest in you, not just the product or the vision of your company. Make the connection meaningful - an investor can tell if they are being viewed as a piggy bank or if there is a true desire to connect and receive what they are able to provide. Offer a relationship before asking for an investment.

-- S. Pensyl





Thursday, May 19, 2016

Tesla Motors Inc.


Tesla Motors Inc. plans to sell $1.7 Billion in new stock. The question is, why would you do that? Well Tesla is doing this because they need funding for there launch of the new Model 3 electric sedan. If you do not know, Tesla is a luxury car that are electric instead of gas driven. 

They must fund as much as $2.25 Billion to mainly equip the factories and suppliers to build the Model 3. It is said that Tesla has been known to have net losses which is not a surprise. Not everyone buys a brand new car everyday. It's a tough industry to be in for sure. Once this is launched I believe that Tesla will make up for it. 

-- Derek Lengyel

Wednesday, May 18, 2016

Top 15 Business Ideas and Trends for Future

Click HERE for some of the latest business ideas and trends.  This list of 15 business ideas give us a good glimpse on what trends are currently emerging.  Keep an eye on these emerging trends in the near future.

I would like to touch on one business idea stated in this list.  Social media consulting is an emerging business trend.  As social media marketing for business continues to become more and more necessary for business, social media consulting has grown substantially and will continue to grow.  

The growing need for social media marketing has created a high demand for people with social media marketing expertise.  Businesses all around the country are forced to adapt to this rising trend and outsource social media marketing to professionals.  Social media consultants advise companies on how to promote and market their products.

For more information on how to become a social media consulting click HERE.

Wednesday, May 11, 2016

Social Media Management Platforms

As social media becomes a more and more crucial marketing tool, we see businesses and Individuals alike trying to keep track of multiple social media accounts at the same time.  I've had some first hand experience with social media marketing, and keeping track of multiple accounts isn't easy.

Social media marketing involves the use of all popular social media accounts, like Facebook, Twitter, and Instagram.  Making sure you remember to update every social media account on a daily basis can be very time consuming.  This is why we are seeing social media management tools being used more often.

Social media management tools are used to keep track of all of your social media accounts for you. Social media management tools like AgoraPulse and Buffer are able to analyze all of your social media accounts connected to the software.  Many social media management tools also have the ability to suggest the best times of day to post content.  You can also schedule what times of day you would like your content to be automatically posted.  Every different social media platform is similar but each one offers different features as well.

Essentially, if you are tech savvy (or if you know someone who is) and interested in starting a business, take a deeper look into developing your own social media management platform.  This software is a must have for businesses, so take this opportunity to create your own social media management platform and add your own little twist for differentiation.

For more information on social media management, click HERE.

Tuesday, May 10, 2016

A Brand New Ending


This video was shared with me recently and I felt compelled to share it with all of you.  Take five minutes and watch this video and expect a hard push of motivation.  I believe that anyone can benefit from hearing the words of this man.  Follow your dreams, you'll regret it if you don't.

If you enjoyed this video, find more of Prince Ea's inspirational and informational videos HERE.

Wednesday, May 4, 2016

5 Promising Industries of 2016 You'll Want to Read Up On If You Want to Start a Business

Want to start a business with a high potential for growth?  Here is a list of 5 of the most promising industries of 2016:


Drones

Drones are becoming more and more prominent in today's society.  You may even have seen little drones flying around your neighborhood.  The commercial drone market is predicted to grow to grow to about $1 Billion by 2022.  The average annual growth of the market is about 17 percent; a respectable to growth rate.  Drones are used mostly by the government but drones have been pushing their way into the private sector.  Considering the drone industry arose relatively recently, there are many improvements to be made, making the industry a great opportunity for people looking to start a business with high growth potential.


Food 

Is the food you are eating going to kill you?  Let's hope not.  People are becoming more conscious about food safety, especially because of the recent norovirus and E. Coli scares that we've all heard about.  The desire for locally grown or organic food is on the rise.  People are gravitating away from restaurants receiving food shipments from a variety of suppliers because safety is difficult to ensure.  According to CNBC, considers food analytics to be an emerging industry.  Judging by the recent pressure on food safety, expect to see this industry emerge in the near future.

The food safety and food analytics are both very promising industries.  Food analytics involve the development of products that assist with food inventory management.  Food industry management tools help companies keep track of their food inventory; these products take into account expiration dates and suggests when food should be used.  If you are interested, I'd suggest keeping an eye on both industries over this upcoming year.

Babies 

It appears that we may be experience the baby boomers for a second time.  Well, I wouldn't say that exactly, but the birth rate is on the rise again, and millennials want to spoil their children with only the best products.  It is said that parents spend about $50 a week on a single child.  Children are expensive, we can all agree on that.  Because of the rise in the birth rates around the world, the global baby product market is expected to grow to about $67 billion next year.


Health 

Healthy is cool.  It seems to me like all people talk about these days is yoga, pilates, and the "the great new fitness trend."  All this talk is exhausting; that, itself, is enough exercise for me.  Essentially, the wellness industry has shown substantial growth over the last few years.  As people become more health conscious, more gyms establish themselves, selling memberships for exuberant prices.  Contributing to this growth within the industry is corporate wellness.  According to IBIS, the corporate wellness industry is worth $8 billion and growing.  For more information on the rise of the fitness industry, check out "Fitness Industry on the Rise," a blog post I recently created.  


Environment

50 shades of... green.  Everything has gone green.  Conserving the environment seems to be everyone's first priority.  Entire companies are going green.  It is wonderful to see the effort that the world is putting into environment conservation.  Because of this huge effort, environmentally friendly products are very popular.  Not only have environmentally friendly products become prominent in society, but also has environmentally friendly building practices, as well as clean energy.  The search for energy that is both clean and efficient is something all entrepreneurs should be keeping an eye on whether they are interested in it or not.  Chances are, when you start your business, the environment and environmentally friendly products and energy, will have an effect on your organization.


I compiled this information from the following sources:








Friday, April 29, 2016

Guest Bloggers Wanted

I am currently searching for guest bloggers to be featured on my blog.  If you are interested in sharing business advice, business ideas, or any other information regarding business, please comment or send me an email!

Anyone with relevant information will be accepted as a guest blogger!  I'd love to hear what you all have to say!  

Thursday, April 28, 2016

As the Leather Comes Together

If you recall my previous blog post about my Colorful Leather business idea, I'd like to follow up on that idea and explain some of the research I've put into it.

Over the last month I have looked deeper into the Colorful Leather possibility.  My original idea involved purchasing leather gloves from an established leather glove producer.  My plan was to buy high quality leather gloves from the company, color them, and then resell them for a higher price. Initially, I saw this as a great idea because it involves a very minimal personal investment.  

The minimal seed money needed to execute this idea was, and still is very attractive to me considering I am a student and I do not have an abundance of cash.  I initially wanted to start a small business while in school in order to bring in some extra cash; I wanted to start a business that had the potential to grow in the future. 

My original plan is still a possibility because I believe it has excellent growth potential, but purchasing and reselling a modified version of another companies product does not allow for large profit margins.

My new and improved idea involves buying leather from local leather suppliers, dyeing the leather, and then having the leather constructed into gloves or other leather finished leather products.  This idea requires a significant amount of planning and substantially more cash.  In order to put this plan into motion I would need investors; I would not be able to fund this venture with the cash I have on hand.

With the new idea being on a much larger scale, I am looking at it as a future business venture rather than something I would dive into right at this moment.

Let me know what you think of the improved idea!

Should I start now and wait for the business to grow in the future?  Should I wait until I have the time and the cash to take on a larger business venture in the future?

Comment and share!

For more information of the original idea, click HERE.


Tuesday, April 26, 2016

Learn by Doing

Image result for motivational quotes for entrepreneurs

Top 5 Franchises of 2016


1. Jimmy John's Sandwiches
    Sub shop
    Investment: $326K - $555K

2. Hampton Inns by Hilton
    Midprice hotels
    Investment: $3.8M - $14.1M

3. Supercuts
    Hair salon
    Investment: $144K - $249K

4. Servpro
    Insurance/disaster restoration 
    Investment: $156K - $210K

5. Subway
    Sub shop
    Investment: $117K - $263K


For more information on the top franchises of 2016, click HERE.

Friday, April 22, 2016

Penn State President Eric J. Barron Cuts the Ribbon at Happy Valley Launchbox

Happy Valley Launchbox opened in downtown State College, PA, on Thursday March 31, 2016. Happy Valley Launchbox is a new facility that provides local entrepreneurs with free business startup training and work space.  Through the Happy Valley launchbox initiative, Penn State University gives local entrepreneurs the opportunity to put their business ideas into action.
Happy Valley Launchbox was created to encourage the citizens of State College to start businesses within their own community in order to create more jobs and improve the State College economy.
5 entrepreneurial teams were selected to participate in a 10 business startup training program. The 5 inaugural teams have access to free legal and marketing consulting, as well as free co-working space that is available 24 hours daily.
The 5 entrepreneurial teams and their business ideas are listed below:

Lockeroom: A platform for managing youth sports teams and leagues that automates and expedites registration, scheduling, and communication processes for team and league management.
Team: Brook Hart, Kurt Collins and Joe Gazza


Project Vive: A speech assistance technology that aims to give a voice to individuals who cannot talk by providing a low-cost, effective device.
Team: Mary Elizabeth McCulloch and Rodney Miller


ReDi Index: Guidance and methods to measure an organization’s recycling efforts with a two-number system to measure your improvement and progress toward zero waste. 
Team: Brendan Bagley, Al Matyasovsky and Shulin Chen


Scenomics: A software-as-service concept that helps healthcare organizations identify and quantify the value of their technology investments.
Team: Steve Haynes and Bryan Adams

Somnus: A medical device that can diagnose sleep apnea at home, instead of requiring patients to check into a sleep clinic.
Team: Nick LaBarbera and Michael McPhail

For more information on Happy Valley Launchbox, please check out the following links:


Tuesday, April 19, 2016

Grocery Home Delivery

These days, delivery services are becoming more and more prominent.  Take a look at OrderUp for example.  OrderUp benefits consumers and businesses alike by giving people the chance to order delivery from places that did not have delivery services available before.

With delivery services on the rise, it wouldn't be a bad idea to consider starting a delivery service of your own.  Personally, I am looking into possibly staring a grocery delivery service.  Grocery delivery services are beginning to arise around the nation and I feel that it would be beneficial to provide my community with the opportunity to have their groceries delivered to their doorstep.

Click HERE if you are interested in the idea of a grocery delivery service.

If you would like to know more about how I personally intend to go about preparing to run a grocery delivery service, please feel free to comment!

Monday, April 18, 2016

5 Ways to Fund Your Business

Securing funds for your new business can be one of the most important and most frightening steps in the startup process.  We all know there are many risks involved with starting a business, but those risks become very real once you've earned some startup capital.  At that point you don't have much time to waste and you must be ready to move forward.  Before we worry about all that, how might we go about funding a small business?  Here are 5 great ways to fund your business:


Small Business Loans

Small business loans can provide a significant amount of capital to fund your business at a relatively low interest rate.  A small business loan is always a viable funding option, because many organizations are willing to help entrepreneurs start new businesses.



Crowdfunding Platforms 

Crowdfunding platforms like GoFundMe, Kickstarter, and Indiegogo provide the opportunity to solicit funding from the masses for any cause you wish to fund.  There are a downsides when it comes to the use of crowdfunding platforms, but either way, it is worth trying.


Advance Orders

If you have already established customer interest and a strong customer base you can take advance orders or pre-sale.  Advance orders are purchases of product or service before it becomes publicly available for purchase.  This funding option provides you with working capital and helps to validate you business before the startup process is complete.


Personal Assets and Savings


The simplest form of funding your business is using your own savings and assets to finance your venture.  However, there are significant risks when it comes to funding you business using your own cash and other assets.  Also, you can lower interests rates on your loans by offering up assets such as your car or house as collateral.  Self funding is a viable financing option, but make sure you understand the risks involved with it.


Grants

Grants are made available by non-profit organizations and also the government.  High tech and High impact business ventures can be eligible for grants.  Also, certain cities like Philadelphia and Columbus offer incentives for entrepreneurs to start businesses within those cities.



For more information on small business financing click HERE.


Believe it - Monday Motivation

“Don’t limit yourself. Many people limit themselves to what they think they can do. You can go as far as your mind lets you. What you believe, remember, you can achieve.”  -- Mary Kay Ash, Founder Mary Kay Cosmetics. 

Thursday, April 14, 2016

Changing the World With Entrepreneurship

People have the capability to do amazing things.  This article explains just one of the times where entrepreneurship benefited a community.  Imperial College Business School in London has taken initiative to help people within the community, specifically prostitutes.  Since 2008, Imperial College Business School has trained these women in entrepreneurship and many of them have gone on to do great things.

It's amazing how easily one can make an impact, even if it's on just one persons.  These Entrepreneurs are not only working to create jobs for people, but they are also working to create opportunities for the least fortunate of these.

I urge everyone to skim this article and make known the good work that these people at Imperial College are doing.

Read the Article HERE.


Tuesday, April 12, 2016

Don't Be Afraid to Take That First Step

Ideas Aren't Everything

Many entrepreneurs or soon to be entrepreneurs love idea-creation.  That's is just something that makes us entrepreneurs.  But be careful, many entrepreneurs make the mistake of getting caught up in an idea.  This leads to the question, "How can I protect my idea?"

When you look at the grand scheme of things, ideas have little to no value.  When you get caught up in protecting your precious idea, you miss the opportunity to get feedback on you idea and you plan.

There is no such thing as a billion dollar idea.  Chances are your idea has been thought up by someone else.  Ideas are everywhere; the differentiating factor is you.  The idea itself isn't special; the person who executes the idea, and the way it is executed, can't be replicated.

Furthermore, when we think up an idea that we absolutely adore, we often cling to that idea as if it is irreplaceable.  I can assure you it's not.  Ideas come and go all the time; over the last year my mind has been swimming with idea after idea, many of which I don't even remember.  

Remember this: Every idea has potential, but that is exactly what it is, just potential. The idea becomes valuable once you turn that potential energy into forward motion.   

I created this blog to bring together entrepreneurs to share ideas because we shouldn't be worried about hiding them.  I want all of my readers to benefit from the ideas and information shared.  

Click HERE to hear another persons take on the value of an idea.

Monday, April 11, 2016

Think Like an Entrepreneur

I was reading an article earlier today that I felt needed to be shared.  The article impacted me personally because some of what was stated related to how I used to feel about my ability to be an entrepreneur.  I've had my doubts in the past, and from what I am experiencing, it seems as if it's a big part of everyones journey to success.  There will always be doubt and there will always be struggle, it's learning how to overcome that doubt that counts.  It's all in how you think.

The article contains much more information regarding an entrepreneurs thought process.

Whether you are struggling with doubt, looking for tips, or not, I would recommend checking out this article!

How to Think Like a Successful Entrepreneur 
-Dale Partridge

Low Cost Startup

Whether you want to start a home-based small business, or a multi-million dollar corporation, HERE is a list of ideas you will want to look over.

Some Motivation for Your Monday


"Success consists of going from failure to failure without loss of enthusiasm." -- Winston Churchill.

Wednesday, April 6, 2016

Custom Fitted Furniture

In an unsuccessful attempt attempt to fit furniture into unusual places, I thought up a successful solution.  When we think about things like cabinets, tables, and shelves, we picture the usual: squares, rectangles, the shapes and dimensions frequently used for furniture.  A rectangular table or bookshelf is usually quite practical, but what if you had to fill an unusually shaped space?  You can't fit a round table into a corner without wasting some space.

To solve this issue, I began thinking about creating furniture for those unusually shaped spaces. Think about a corner table for instance; a corner table resembles a semi-circle, the other half being a corner so that the table can fit into a corner making efficient use of space.  Similar products already exist, but what about the plethora of unusual spaces that need to be filled?

Architecture is becoming more and more complex, and the demand for more complex furniture is growing.  Think about how this would benefit people by giving them the ability to use space more efficiently.

How do you feel about this?

Feel free to leave a comment and give me some feedback on this idea!





Image result for round corner tables

Fitness Industry on the Rise

Throughout the last few years we've been seeing a substantial increase in the amount of gym memberships across the United States.  The fitness industry is on the rise.  This growing industry is gaining popularity because people are becoming more health conscious.

In other words, it's a good time to start a gym.  If you are interested in fitness and the possibility of starting a fitness center, check out the link.

Fitness Industry Analysis

Health Club Continues Impressive Growth 



Monday, April 4, 2016

Monday Motivation

"When everything seems to be going against you, remember that the airplane takes off against the wind, not with it." -- Henry Ford, founder of Ford Motor Company.


Couldn't have been said any better.

Friday, April 1, 2016

Colorful Leather



Has anyone ever thought to take leather and turn it into something... colorful?

One of my most recent ideas was the idea of dyeing leather gloves.  This may sound far fetched as a business idea, but it is something that I thought I would share in order to get some feedback.

The idea is to take light colored leather gloves and accent them with colorful dyes and intricate patterns.  No two pairs of gloves would be exactly the same.  I'd like to do some experimenting with different types of leather and different types of dye in order to get a feel for how it would work.  I will also be looking for suppliers and eventually I would like to turn this idea into a reality.

How do you feel about colorful leather?  

I'd love to hear your feedback!  Please comment and share!

Wednesday, March 30, 2016

Life With a Side of Business

For many of us, there comes a time in life when our 9 to 5 is all consuming.  Even the thought of starting a business while working a full time job can be overwhelming.  Not everyone is able to quit there day job to start a business that they are not even sure will work.  There are many risks involved with starting your own business, and diving right into the unknown is one of the hardest parts of a start-up.  So instead of immediately quitting your day job and diving right in, take it slow and start out small.


The answer is simple.  Start out small.  If you don't think you can handle working a full time job and running a full scale business at the same time, consider starting a small side business.  When your business begins to pick up speed, then consider taking that big step and diving in.  Take a look at the link for some great ideas for a side business.

While risk will always be a factor within the world of business, it isn't always in your best interest to run into the wild without a plan.

Tuesday, March 29, 2016

Quote of the Week

"If you can dream it, you can do it." -- Walt Disney

I'd like to integrate a weekly quote into this blog.  I think it would be beneficial to hear the words of people who have worked for their dreams and have successfully achieved them. Reading the quotes of entrepreneurs before me has always kept me motivated to keep moving.

Thursday, March 24, 2016

Quick and Simple Startups

Not ready to devote yourself to a large and risky business venture?

It's not always the best idea to jump into a high risk situation without doing a little planning first, anyway.

If you aren't sure whether you want to go "all in" yet, get some business experience by running a small scale, low risk business first.

Click on the link to check out some great quick and simple startup ideas!  The list contains ideas that cost you practically nothing to start, and would be great as side jobs or just a great way to start your life as an entrepreneur!  Whether you decide to continue your life as an entrepreneur or not, at least you will be able to get a small taste of what running a business is like... and at least you can say you started something...

Comment and let me know how you feel about some of these!

Wednesday, March 23, 2016

Grocery Delivery Service

These days, delivery services are becoming more and more prominent.  Take a look at OrderUp for example.  OrderUp benefits consumers and businesses alike by giving people the chance to order delivery from places that did not have delivery services available before.

With delivery services on the rise, it wouldn't be a bad idea to consider starting a delivery service of your own.  Personally, I am looking into possibly staring a grocery delivery service.  Grocery delivery services are beginning to arise around the nation and I feel that it would be beneficial to provide my community with the opportunity to have their groceries delivered to their doorstep.

Click HERE if you are interested in the idea of a grocery delivery service.

If you would like to know more about how I personally intend to go about preparing to run a grocery delivery service, please feel free to comment!

Tuesday, March 22, 2016

Funding Your Business

Aspiring entrepreneurs like you and I are constantly thinking up new ideas, many of which are great ideas.  Unfortunately, the concern that you will never be able to build enough capital to get your idea off the ground forces you to put our ideas on hold or even disregard them entirely.

As a full time college student, funding my many ideas is of great concern to me.  Paying for education and funding a business at the same time seems so overwhelming and in the past has caused me to entirely disregard many ideas.

As difficult as it sounds, funding a business is not impossible.  During my search for solutions, I was able to find some useful information HERE.

Thursday, March 17, 2016

No Such Thing as too Crazy

For anyone who may feel that their idea is too crazy to share, I'd like to clarify one thing... When it comes to entrepreneurship, no idea is too crazy.  One could say that "crazy" is the essence of entrepreneurship.  History can prove that.

We are where we are today because people like us were "crazy" enough to put an idea into action no matter how many times they were told that the idea couldn't possibly work.  Click HERE to check out some great examples of "crazy" ideas that worked!

I want to hear the craziest ideas you have... I want to hear the ideas that have been shot down... There is no such thing as too crazy...

Time to Get Started

As a student and an aspiring entrepreneur, I am always on the search for ideas.  I decided to create this blog in order to bring aspiring entrepreneurs together to share and collaborate ideas.  I'd like to create a place to compile business ideas and information regarding entrepreneurship.

Feedback is always appreciated, and please feel welcome to share your own business ideas!

Please comment!  Let's hear what you have to say!

Okay, let's get started...