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The Key to Scaling Your Business? Be Sure You Understand Customer Lifetime Value

by Manuela
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Businesses looking to find their footing are often obsessed with metrics. However, not all metrics are created equal for those hoping to survive over the long haul. The difference between businesses that fail and those that scale? Understanding what their customers are worth by the numbers. It doesn’t matter what kind of business you want to start. From the world of e-commerce to brick-and-mortar stores, scaling is near-impossible until you determine your customer lifetime value. Breaking down your CLV Customer lifetime value (CLV) represents a relatively simple concept that can make or break a budding business. In short, your CLV is the total [...]

Do you have an idea for a service, project, application, business

by Manuela
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A winning business idea could win you thousands of dollars to help with start-up costs.  The first 'Starting Line' competition is designed to attract anyone who wants to bring solutions to the community's problems.   The competition will be three rounds, a 90-second online pitch, an executive online summary, and a live pitch in the final round.  The Idea Fund and Ben Franklin Technology partnering to create this competition offering a total of $30,000 to the winners. This competition is for new and innovative ideas and is meant for those without a financial track record, which they call, "the purest form of a start-up". [...]

Time to start a startup business

by Manuela
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Rhonda Abrams, @RhondaAbrams Published 12:02 a.m. ET Sept. 18, 2017 CLOSE Dreaming of becoming your own boss? These five tips can help make your business "super." USA TODAY Rhonda Abrams(Photo: USA TODAY) Millennials: It’s time to start a small business. You know you want to be your own boss, and there are lots of great small business ideas out there. Millennials — those born between 1982 and the 2000s according to the Census Bureau — have good reasons to consider striking out on their own. Why? Because many millennials came of age around the time of the Great Recession, when [...]

50 Small Business Ideas for Those Who Love the Outdoors

by Manuela
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There’s a common misconception that business owners are constantly glued to a computer screen and cooped up in an indoor office. But you shouldn’t let this notion hold you back from starting a business. In fact, even if you love spending all your time in the great outdoors, there are plenty of outdoor businesses you can start that let you enjoy entrepreneurship and fresh air at the same time. Here are 50 different outdoor business ideas for people who love being outside. Outdoor Business Ideas Lawn Mowing Service Any home or business with a yard full of grass needs a [...]

How To Start a Successful Restaurant: GUIDE

by Manuela
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Source. This article is part of our Restaurant Business Startup Guide—a curated list of articles to help you plan, start, and grow your restaurant business! If you’ve wanted to start a restaurant for years, it might be time to sit down and draw up a plan to open your own business. To help you create a recipe for success, we’ve put together a how-to-get-started guide to make sure you have all the ingredients you need to open your restaurant with confidence. While starting a restaurant is exciting, it’s also time-consuming and one of the toughest businesses to successfully launch. In [...]

8 Proven Time Management Tips From 12 Top Business Execs

by Manuela
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By Georgi Todorov Time management is a multi-billion-dollar industry. Countless books and gurus are advising you what to do. And there are even apps to push and prod you in the right direction. But which methods really work? These eight tips are tried and tested by some of the nation’s top business execs. 1. Plan your work the night before Brian Tracy, Chairman and CEO of Brian Tracy International, is a renowned speaker and best-selling author on self-development, leadership, and time management. One of Tracy’s top tips to having a productive day is to plan your work the night before. “By writing [...]

How to Fund Your Startup Without Losing Control

by Manuela
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Capital investments are like gasoline on a startup business’s metaphorical fire. They allow you to hire more people, purchase new technology, and establish new business connections, among many other benefits. If you’re like most startup CEOs, your startup has been your personal fiefdom and baby. You make all the decisions, when you want, how you want. When you accept outside money, particularly a private equity (PE) investment, however, that changes. In this article, I’ll provide some personal stories of how investors have navigated the balance between raising private equity capital and not losing control of their startup. Rule 1: Bootstrap [...]

Learn About Social Media Algorithms, Augmented Reality and More Changing Business Trends

by Manuela
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The tools, platforms and methods you use to grow your business are constantly changing. So you need to keep up with all the latest updates and trends. Members of the online small business community have some great insights about these changing tools and trends, ranging from social media algorithms to augmented reality. Read on for some helpful tips. Don’t Let Social Media Algorithms Hurt Your Digital Marketing Social media is an easy and free way to promote your business. But algorithms on certain sites can make it more difficult for your content to reach relevant audiences. To combat that, check [...]

10 Most Common High Tech Business Plan Fails – Planning, Startups, Stories

by Manuela
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I was asked about high-tech business plan fails on Quora recently. So this isn’t about lean plans for all business owners, but just the business plans submitted for angel investment and business plan competitions. I read about 100 of those business plans per year. So here’s my list of high-tech business plan fails: Naive profits. Drives me crazy. First of all, startups are rarely profitable. Secondly, get a clue – if the industry average is 8% profits to sales, you aren’t going to make 43%. You’re not showing that your business will perform way better than most; you’re showing you don’t [...]

Is Technology Helping or Hurting Your Business?

by Manuela
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Here’s a lesson for small business owners: More technology is not necessarily better…if you leave some customers behind. Ordering a pizza is something we’ve all done dozens, if not hundreds, of times. You pick up the phone, call your nearest pizza place and order delivery. Easy — or is it? Not for a friend of mine who recently had a frustrating experience when he tried to order a pizza. My friend is a musician and was in the middle of a recording session that began to run long. The guys were getting hungry, but not wanting to totally interrupt the [...]