New Business In 2016

Happy New Year!

So as we start off the new year, we also look back at some trends that have been happening around the United States. It seems that there are less entrepreneurs every year, for whatever reason. Maybe it’s the fact that kids and young adults today are in their parents basements spending to much time on their game consoles to be interested in making themselves financially independent and creating a legacy for their children and grand children.

Of the ones that do decide to jump out and take the leap to start their own business, there are some qualities that they must either learn or be mentored in.  The business world is constantly evolving, faster than ever before thanks to technology.

An article written by Glenn Llopis on Forbes website recently wrote an article that explains the Top 5 leadership predictions that will help businesses to evolve –

Over the past several years, I’ve witnessed the decline of courageous leadership in American enterprise.   Rather than welcome change in order to evolve, leaders are playing it safe. Where are the leaders with the strategic focus and wisdom to take a leap of faith and the tenacity to find new ways of doing things?

21st century leadership requires you to be a change agent who is not afraid to get uncomfortable and take ownership when it comes to creating the next big thing for your business, people and industry to evolve. But according to research conducted by my organization, 78% of leaders have difficulty understanding and effectively articulating the requirements to thrive in the rapidly changing marketplace – and the consequences of not doing so.   Perhaps this explains why only 32% of leaders define themselves as change agents.

Leaders must think differently to act courageously upon the burning platforms that are reinventing industries.   Here are my top five leadership predictions for your business to evolve in 2016 and beyond – the burning platforms we can no longer afford to ignore.

Continue reading the story here.

Also it’s not easy starting and running your own business. It takes a lot of work and dedication. Young adults these days probably understand that and don’t want to put forth the effort. No more 9 to 5 and lots of late nights as Suneera Madhani recently wrote in and article in Fortune.com.

Suneera Madhani, founder and CEO of Fattmerchant Courtesy of Fattmerchant

Everyone knows that starting a business is hard work, but I wish I had known just how much hard work it would be. In the beginning, it can be challenging to feel comfortable with that initial leap of independence—leaving whatever you were doing to start your own business. But the process after making the leap is what really proved to be testing.

Like many young startups, Fattmerchant was initially comprised of just me, myself, and I. However, after many late nights and lots of hard work, I eventually realized that it was time to recruit some help and start building a team. And while it’s definitely something I would consider to be a “champagne problem,” I never thought I’d need to do it.

Continue reading her story here

So hopefully more young Americans will take the leap and be prepared and launch their own business and continue to grow this great countries economic base and dominance that we once had in the world.

Borrowing Money For A Start Up

A lot of people have good ideas to start their own business. Sad fact is a lot of people are to scared to take the leap to start their own company.

Of the people that do take the leap, there is one potential problem they run into to get started, and that’s finance. Some would be entrepreneurs borrow money to get started. This is a hot topic, should you or should you not borrow money to get started. We believe that it is really up to you and your willingness and commitment to your new company and your tolerance to loosing money should you fail and how it will impact you financially.

If you do decide to borrow the money you have to have a plan in place to be able to repay the money should your endeavor fail. Here is a short video from Bloomberg Business and Mark Cuban on his recommendations on borrowing money for a start up – as well as a few pointers for what he believes you need to have in place.