In her advice column for ‘Entrepreneur,’ Brit Morin offers tips on figuring out your passion, matching that passion with a real world business need, and how to be sure your fledgling business idea has wings.
Tag Archive for Advice
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Dear Brit: 'I'm Freaked Out by Failure!'
by Brit Morin • • 0 Comments
In her advice column for ‘Entrepreneur,’ Brit Morin offers up close and personal thoughts on dealing with failure, the pros and cons of co-founders, and why you should actually be taking that whole self-care thing seriously.
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She Left Google at 25 to Bootstrap Brit + Co, and Raised Over $50 Million. Now, Brit Morin Is Here to Kill the Lie Destroying Your Dream: 'Everything Has to be Perfect.'
by Frances Dodds • • 0 Comments
In a new advice column for ‘Entrepreneur,’ the VC investor and juggernaut founder will answer women founders’ darkest, juiciest, most vulnerable and ambitious entrepreneurial questions.
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How to start a new business if Covid makes you redundant
by Steve Taklalsingh • • 0 Comments
Originally written by Steve Taklalsingh on Small Business
10-step guide to start a new business
Many people have gone through redundancy this year. More are likely to do so because of Covid. If you are one of them, after recovering from the initial shock, you are probably re-evaluating your life and career. Despite economic uncertainty this is proving to be a popular time to start a new business. But if this is the moment you head out on your own, where do you start and what do you need to know?
#1 – Have a good idea
Successful businesses are not successful because someone had a ground-breaking idea or invention. They’re successful because the business owner implemented the idea effectively. Having said that, you do need to really think about your business idea.
What is the problem you are trying to solve in the market?
Who is the competition?
Is there space in the market for you or is the marketplace saturated?
What do you bring to the table that others don’t?
How are you going to attract customers?
Do your research; it will be the most valuable time you’ll spend on your business.
>See also: 5 best ideas to start a small business post coronavirus
#2 – Check your status
You must
Hot Business News Today
How to start a new business if Covid makes you redundant
by Steve Taklalsingh • • 0 Comments
Originally written by Steve Taklalsingh on Small Business
10-step guide to start a new business
Many people have gone through redundancy this year. More are likely to do so because of Covid. If you are one of them, after recovering from the initial shock, you are probably re-evaluating your life and career. Despite economic uncertainty this is proving to be a popular time to start a new business. But if this is the moment you head out on your own, where do you start and what do you need to know?
#1 – Have a good idea
Successful businesses are not successful because someone had a ground-breaking idea or invention. They’re successful because the business owner implemented the idea effectively. Having said that, you do need to really think about your business idea.
What is the problem you are trying to solve in the market?
Who is the competition?
Is there space in the market for you or is the marketplace saturated?
What do you bring to the table that others don’t?
How are you going to attract customers?
Do your research; it will be the most valuable time you’ll spend on your business.
>See also: 5 best ideas to start a small business post coronavirus
#2 – Check your status
You must
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5 reasons why setting up a business in a recession is a good idea
by Louise Hebborn • • 0 Comments
Originally written by Louise Hebborn on Small Business
The impact of coronavirus has wreaked havoc on business and economies around the world. In the UK, we are now in the deepest recession since records began and the World Bank expects a global economic contraction of 5.2 per cent in 2020.
As many longstanding businesses fold and high street names fall into administration, it can be a daunting time to consider starting a new venture.
5 reasons why setting up a business in a recession is a good idea
However, a recession can also provide a fledgling business with great opportunities.
#1 – Finding gaps in the market
Often during periods of uncertainty, we find there are problems and issues which need addressing now. We saw how many companies responded to the need for protective equipment, including masks and hand sanitiser over recent months and used this compelling consumer demand to grow their businesses.
As we continue to navigate our way around this “new normal”, gaps in the market will start to come to the surface. If you can identify those gaps and act to fill them, it may give you a strong head start.
>See also: 5 best ideas to start a small business post coronavirus
#2 – An
Hot Business News Today
5 reasons why setting up a business in a recession is a good idea
by Louise Hebborn • • 0 Comments
Originally written by Louise Hebborn on Small Business
The impact of coronavirus has wreaked havoc on business and economies around the world. In the UK, we are now in the deepest recession since records began and the World Bank expects a global economic contraction of 5.2 per cent in 2020.
As many longstanding businesses fold and high street names fall into administration, it can be a daunting time to consider starting a new venture.
5 reasons why setting up a business in a recession is a good idea
However, a recession can also provide a fledgling business with great opportunities.
#1 – Finding gaps in the market
Often during periods of uncertainty, we find there are problems and issues which need addressing now. We saw how many companies responded to the need for protective equipment, including masks and hand sanitiser over recent months and used this compelling consumer demand to grow their businesses.
As we continue to navigate our way around this “new normal”, gaps in the market will start to come to the surface. If you can identify those gaps and act to fill them, it may give you a strong head start.
>See also: 5 best ideas to start a small business post coronavirus
#2 – An
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8 Business Lessons from Rapper YBN Cordae
by Ishan Goel • • 0 Comments
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Top 10 tips for single parents who want to start their own business
by Joanna Morris • • 0 Comments
Originally written by Joanna Morris on Small Business
Single parents face significantly more challenges when starting their own business, juggling childcare while working every spare minute on their start-up.
According to a new Hitachi Capital Business Finance survey, single parents have one fifth less money to put into their fledgling business to get it going in the first two years – £8,785 versus £10,836.
Half of single parents start their new business with less than £5,000, compared with a national average of 44 per cent.
>See also: 5 best ideas to start a small business post coronavirus
Single parents work for an hour and a half longer each week than the average business owner. Nearly two thirds (63 per cent) work more than the average 35-hour week, with one in 10 putting in a 50-hour week and 4 per cent working a 60-hour week.
On the other hand, half of the 300 single parents surveyed say they are doing what they love, and 52 per cent saying they would never retire because they love their start-up businesses and nearly two thirds (65 per cent) see themselves working well past retirement age.
And single-parent business owners are among the most accommodating of bosses, with nearly one third offering
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How to start a freelance career in the UK – a beginner’s guide
by Dave Chaplin • • 0 Comments
Originally written by Dave Chaplin on Small Business
As the UK economy recovers from the impact of coronavirus, now might be the perfect time to take the leap and go it alone in a new freelance career.
For risk-averse businesses in this current climate, the immediate access to key skills which freelancers provide presents a more economically viable recruitment solution than a permanent hire. If you possess an in-demand skillset, you are well placed to capitalise.
Though other key concerns include deciding upon a business model, registering with HMRC and enlisting an accountant, Chaplin advises on setting a contract rate, marketing yourself and finding work.
>See also: 7 tips on how to manage freelance workers remotely
Setting your contract rate
Setting a freelance contract rate in the UK is a careful balancing act. You want to establish a competitive rate that ensures you receive a good return for your efforts without risking pricing yourself out of the market.
There are useful sites online that share survey results of the standard rates that specific skills command.
However, while these sites provide useful guidelines, they don’t account for the combination of skills or the level of experience required. Therefore, you should create a baseline rate based on your current salary,