Entrepreneurship

  There are nearly 25 million “one-person” businesses in the United States. And, overall, non-employer businesses are making more money than in the past—more than 36,000 of them bring in seven figures or more annually. Elaine Pofeldt researched these entrepreneurs for several years and shares her findings in her book, The Million-Dollar, One-Person Business. While the book doesn’t offer a cookie-cutter blueprint for success, it does reveal a number of strategies that come up time and again in the stories of the entrepreneurs, and these strategies may just help you form the business of your dreams. 1. Find a unique niche you love Tom Corley,...

A business deal refers to a mutual agreement or communication between two or more parties who want to do business. The deal is usually carried out between a seller and a buyer to exchange items of value such as goods, services, information, and money. It is considered to be completed or finalized if two or more parties reach an agreement on the terms and conditions of the deal. Both parties must decide on the terms and conditions of the deal that they deem essential to protect their interests and rights. They then conclude the deal, which may include both signing papers where...

Being "street smart," or able to anticipate and deal with daily business problems and surprises, is generally recognized as a critical skill to have for business owners and entrepreneurs. Most investors say they can recognize this capability when they see it, but it's hard to define if you haven't been there. They say you can't have street smarts if you have never lived in the streets. Some people argue that you can only be born with street smarts, but I see these as more of a function of experience. In many cases, they come from lessons learned from prior failures (and successes), but I...

Brothers, hiring intelligently is one of the most direct ways to build a company’s success. I’m not just talking about developing a detailed procedure for recruitment and interviews, I mean you should look for the most intelligent and capable candidates, ones whose brilliance exceeds your own. A hiring manager might compare a candidate’s qualifications with the job description but not sit back and think, What can I learn from him? Some managers just don’t want to be outshined by the creativity, skills and experience of a new employee. Business leaders have to be vigilant about crafting a team of excellence. Nobody sets out to hire...

For decades, African Americans have contributed immensely to the business landscape in the United States. Our achievements have changed the way we live our daily lives from the development of caller ID technology to the invention of the traffic light, African American business professionals and creative minds have forged pathways for others’ successes. Although the number of black-owned businesses is rising every day, black entrepreneurs must contend with existing barriers rooted firmly in place, making it difficult for many to raise capital and garner the attention their businesses need to succeed. There’s more support for multi-billion-dollar industries to reach potential customers...

Benefits Of Having A Network If you do not understand the true value of cultivating your networks, then you will have many missed opportunities. It’s essential to have people within your spheres of influence that you find valuable and beneficial, and who feel the same about you. Networking is not about finding an immediate solution to something—it’s about shaping significant relationships with those whom you find a mutual connection—so you know exactly who to call when the time does come. Taking the time to foster relationships with the right people can empower your success; and if you don’t make it a habit to do so, then...