Business Plan, Ideas, Opportunities, Development, Planning

Starting a new business can be a daunting task. There are myriad issues a new entrepreneur will encounter: legal issues, financing, marketing, product development, intellectual property, human resources—the list is endless. Many new entrepreneurs are simply overwhelmed by all the things they are expected to know. Having been involved in hundreds of startups as an entrepreneur, lawyer, venture capital investor, angel investor, and Board member, I have learned a number of real-world lessons. In this article, I share 17 of the most important ones, along with references to other helpful articles that can offer you a more in-depth discussion of each topic. 1. Come Up With a Great Name for Your Business. Finding the right name for your startup can have a significant impact on your success. The wrong name could result in insurmountable legal and business hurdles. Here are some quick tips for naming your startup: Avoid hard-to-spell names. Don’t pick a name that could be limi...

So you want to start your own business. Maybe you're really knowledgeable and passionate about something, or you've found a way to fill a gap in the marketplace. Wherever your interests lie, there's almost certainly a way to turn it into a business. This journey isn't an easy one, though: Starting a business requires a lot of time, effort and hard work, and many would-be entrepreneurs end up failing. But if your company survives, the rewards are well worth the obstacles you'll face on the road to success.  There's a lot to consider and plan before you launch, and it's important to prepare yourself for entrepreneurship. If you think you're ready to start your first business, here's a step-by-step overview of what you need to do to make it happen. In this article… 1. Refine your idea 2. Build a business plan 3. Assess your finances 4. Determine your legal business structure 5. Register with the government and IRS 6. Purchase...

I ended my college baseball career over text. Granted, I didn’t really see eye-to-eye with my coach, and at the time, I didn’t exactly feel like giving him the courtesy of an in-person meeting. But, still, I had respect for him: he gave me the opportunity to continue my baseball career after high school, which lead to some of my fondest college memories. If I could do it all over again, I would have told him face-to-face that I was leaving the team. But even though I quit the team almost four years ago, the thought of facing my coach in person and telling him that I’ve decided to move on from the team still makes me nervous.  After all, he invested in my growth as a baseball player, and joining his team was one of the big reasons why I decided to attend my college. We didn’t have the best relationship, but I still felt anxious and guilty about leaving the team. Use these free cover letter templates to save time. Regardless of the situation you were in when you left your ...