How Much Money Do You Really Need To Start Your Micro Business?

What’s it all going to cost is often the first question that crosses the minds of new micro business owners. After all, don’t you need large amounts of cash to start a business these days?

The reality is that the cash you need could be much smaller than you imagine. And how you raise the cash you need has also transformed over the last few years. Sure the banks are still lending to small businesses, but they are now joined by many other forms of finance.

For me, I started on a folding table with a five-year-old Dell laptop. Back then the cost of purchasing a modem to connect to this new thing called the Internet was my major outlay at the time. The days of cloud-based services, smartphones and apps were years away.

  • Publisher: Forbes
  • Date: 2018-10-11
  • Author: David Howell
  • Twitter: @forbes
  • Citation: Web link

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6 Things You Need to Know About Your Investors Before You Ask for Money

When you’ve hung out with company founders as much as I have, you’ve inevitably heard the following line: ‘I have a big meeting coming up.’ Because the entrepreneur got the appointment, he’s sure the investor has real interest. His growing enthusiasm leads him to think the money is in the bag’only to come back from the ‘big meeting’ empty-handed and deeply disappointed.

For the typical entrepreneur, raising money is an entirely foreign experience. Given that you’re dealing with financial professionals who have been doing this for years, your inexperience puts you at an immediate disadvantage. To get up to speed quickly, start by doing your homework to make sure you get in front of the right people.

Want to Keep Your Best Employees? Offer Them This 1 Thing (It’s Not Money)

Keeping your key team members is critical to your success. But do you really know what motivates them? Here are my top 12 things that you must focus on to keep your employees happy. ‘What’s interesting is that 11 of the 12 aren’t based on money or “compensation”.

Of course you need to pay fairly, but once you are in the right neighborhood to be paying your people fairly relative to the marketplace, here is what really keeps them part of your team.

Relationship — a personal connection: Over the past 25 years of working with small business owners, I can tell you this is often one of the most overlooked and undervalued staffing issues. Take the time to get to know them and their lives. Share about yours.’ I know that many business owners (myself included) hold ourselves back for fear of drama or awkward moments, but in general, we err too often on isolating ourselves from our teams. So take a team member out to lunch, organize a social event, ask them how their son is doing in school, and truly be open to connecting in an authentic way. ‘

How Companies Turn Your Data Into Money

The best description of the data economy comes from AOL, of all places. The once-mighty internet service provider now runs a tidy business in the ad-exchange space. The site promoting the service is hip and tasteful, showing happy, partying people and white text that spells out things like “Monetize your most valuable asset” in all caps.

“A publisher’s audience is their currency,” the site says. “No matter how they make money from content’be it through advertising, paid subscription or syndication, a publisher’s core asset is audience and audience data.”

This is weapons-grade marketing speak, but it’s also a surprisingly honest assessment of digital media’s beating heart’one that pumps out content and takes in reams of data from the people who consume that content. And somewhere, unseen, money is being made from what we see and do online.

  • Publisher: PCMAG
  • Twitter: @pcmag
  • Citation: Web link

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