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!
Friday, April 29, 2016
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.
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
Top 5 Franchises of 2016
1. Jimmy John's Sandwiches
Sub shop
2. Hampton Inns by Hilton
3. Supercuts
4. Servpro
5. Subway
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:
- http://launchbox.psu.edu/news
- http://news.psu.edu/story/401127/2016/03/31/impact/happy-valley-launchbox-opens-downtown-state-college
- http://launchbox.psu.edu/about
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!
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.
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.
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
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.
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
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!
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!
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
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.
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!
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