One of the greatest struggles that many entrepreneurs face is the fear of failure. This fear can sometimes stop you from taking risks that could lead to great success. It might even paralyze you into inaction. But you're not helpless in the face of this fear. Two psychologists offered tips on how entrepreneurs can recognize when they have this fear and what they can do to overcome it.
Getting funding for your business is one of the most important and difficult steps in becoming an entrepreneur. The road between startup and profitability needs to be paved with your undivided effort, talent and creativity.
When you're a small business owner, you're a one-person show. In addition to delivering a product or service, you're responsible for less-thrilling business operations like accounting.
Pricing your products seems straightforward: calculate manufacturing costs and then add a certain percentage on top of that. Profit! If only it were that simple. You have competitors to consider, overhead beyond just manufacturing, and likely possess a human body that requires food in order to continue existing. How can you balance all that?
When creating physical products, one of the most important predictors of success is to price them properly. Part art and part science, finding the right pricing strategy for your products can be difficult.
Producing a physical good is one of the most expensive undertakings for a solopreneur. I've dreamed of being a self-published author since I began my career in 2009, but I didn't have the courage to get started until I considered crowdfunding.
Business plans get a bad rap for being stodgy, outdated, lengthy documents that no one reads. Business plans don't have to be jargon-filled, endless tomes, though. They're meant to be useful guides toward success. And that's why every business owner, even the smallest of eCommerce solopreneurs, should consider writing one.
Roughly a third of the U.S. workforce is freelance, and of those, a large and growing number are full-timers who have professional portfolio websites and spend for all sorts of necessary infrastructure required to run a real business.
If you're just starting out or looking for additional funding, small business grants are a great resource for capital. While grants are the best option—no interest rates, no repayments—it can be difficult to find applicable grants for your small business, and even more difficult to apply for and receive them.
Being a sole proprietor is great. It's so easy! You can literally just start doing it with a minimum of paperwork and very little excess effort... at least until tax time rolls around. Once your business is established, though, it may no longer be the best option for your business. That's when it's time to incorporate and start on your incredible journey to owning a very tall building. Or maybe just an office that's not also at your house.
Start Your Something
At Weebly, we believe that everyone deserves a chance to build something new and do what they love. The Inspiration Center features experts sharing what they've learned about starting and growing these types of big ideas.