What “Done” Looks Like When You Are Living at Work
We are conditioned over the course of our lifetimes to believe that in order to overachieve, we must always “go the extra mile.” Doing exactly what is required of us – and nothing more – feels lazy. It feels unambitious. We fear falling behind.
The problem is, when we are constantly pushing ourselves to go the extra mile (then one more mile, and one more mile…), we never actually reach the finish line.
At a key moment in my career, a client at a high-profile technology company asked me to give three presentations on leadership. They told me that if all went well they were prepared to hire me for the next year or more. It was exactly the career break I needed. I understood their needs well. I had ready-made content they had already approved.
The afternoon before the first presentation, I decided to add some finishing touches. It already looked good. But I worried it didn’t look good enough. I decided to scrap it all and start over. Read more at thriveglobal.com.
Entrepreneur Insomnia: 12 Things to Try When You Keep Waking up at Night
It was 1am and I was sleeping just fine, and then I got up to use the bathroom and it happened….
I got back in bed, thought I could totally fall back asleep…but I was awake pretty much from that point on.
The thoughts just started flowing:
- “I should totally use this kind of audience for X client’s next Facebook ad”
- “THAT topic would be a killer blog post”
- “Wait – did I actually send that email, or is in just sitting my drafts folder?!”
- “It’s been 13 hours and we haven’t gotten a single Facebook lead. WHYYYY?!”
- “Am I sharing enough to help people on Hustle to Startup? Maybe I should change my approach.”
- “Ohhh, another good blog post idea.”
- “Okay, now it’s 2am, only 2 hours until I have to get up anyway. I should just get up now and start writing.”
- “NO stay in bed. You can’t work efficiently if you’re exhausted you idiot.”
And on….and on….and on….. Read more at hustletostartup.com.
5 Nighttime Routines of Successful Entrepreneurs
America’s fascination with entrepreneurial productivity is endless — just look at the waves of books published each year to the ongoing obsession with finding ways to wake up earlier each day. But it’s not just optimizing your morning routine or the approach to structuring your work day that’s important. In fact, one of the most overlooked productivity and schedule hacks is the entrepreneur’s nighttime routine.
Ben Franklin was famous for his rigorous routines and schedules. He ended each carefully mapped day by asking one single question, “What good did I do today?” The sentiment is right, but as an entrepreneur take a slightly more structured approach to examining your day. Take time to review your schedule, projects and insights. Read more at entrepreneur.com.
10 places moonlighting entrepreneurs love to burn the midnight oil
Call it a side business, a second shift, or a night job. For entrepreneurs with a typical nine to five — whether that’s as a student or a full-time employee — moonlighting is a challenge. Not only are moonlighters launching a startup after traditional work hours and often on little sleep, but they’re also building a dream without a dedicated office space.
And they’re not going away anytime soon. Moonlighters make up 27% of the 53 million Americans who freelance according to a recent study released by the Freelancers Union and Elance-oDesk.
Working outside a typical office environment is exciting, but finding a location with solid Wi-Fi, plentiful outlets and a good vibe — plus food and coffee — isn’t as easy as it sounds. We asked a few entrepreneurs to share their favorite tried-and-true moonlighting spaces and here’s what they said… Read more at mashable.com.
“Your time is limited, so don’t waste it living someone else’s life. Don’t be trapped by dogma – which is living with the results of other people’s thinking. Don’t let the noise of other’s opinions drown out your own inner voice. And most important, have the courage to follow your heart and intuition. They somehow already know what you truly want to become. Everything else is secondary.” – Steve Jobs
How to Make Yourself Indispensable as a Freelancer
It’s no surprise that the gig economy is skyrocketing. More than one-third of the American workforce turned to freelancing during the pandemic, and not necessarily because they lost their full-time jobs—some workers are simply filling extra time by making extra money, or supplementing their incomes to bridge the gap between stagnant wages and a nationwide rising cost of living. Others are willingly turning to freelancing for flexible hours and less stress.
The rise of the gig economy dispels the long-held idea that an army of full-time, salaried employees are essential to running a business. In fact, the opposite is true—slim core teams with a wide network of freelancers will likely be the standard business model of the future.
This world has become possible because technology has democratized what companies can achieve with fewer resources. Affordable SaaS solutions have replaced major infrastructure investments; lightning-fast 5G and fiber internet speeds allows remote teams to work from anywhere. Elon Musk’s Starlink project, for example, will connect users in remote areas around the world. All this underscores the shift toward individual talent without physical barriers. It’s a golden age for freelancing. Read more at entrepreneur.com.
Launching a Business Post-COVID
There is truth that the small business economy can – and will – lead to our economic recovery post-COVID.
While the US takes small steps toward a new normal, small businesses have been taking great leaps forward.
There was a temporary dip in new business applications in between February and May 2020 but came back strong during the remainder of 2020. Overall, there was a 24.18% increase in applications from 2019 to 2020, and this year the numbers are looking even better. The US Census Bureau Business Formation Statistics show that in the first quarter of 2021, over 1.55 million new business applications were submitted. Read more at benetrends.com.
Up For Grabs: The Best & Worst States For Business 2021
Despite a global pandemic, near-economic collapse, civic unrest, just-plain-insane election cycle and everything in between during this crazy Covid year, when it comes to the places CEOs like to do business, the old saw is true: The more things change, the more they stay the same.
For the 17th year in a row, Texas tops Chief Executive’s Best and Worst States for Business list. Number two? Florida, once again. When it comes to the three criteria CEOs tell us they value most in site selection—tax policy (37 percent rank it first), regulatory climate (35 percent) and talent availability (25 percent)—Texas and Florida outclass all comers. (Find out why, despite the February storm and power collapse, businesses are still flocking to the Lone Star State.)
And once again—yawn—California, New York, Illinois and Massachusetts pile up at the bottom of our rankings (based entirely on polling of the nation’s CEOs) where they have dwelt for most of the list’s existence. Read more at chiefexecutive.net.
Meanwhile… Deep in the Heart of Texas
With many individuals, families and corporations relocating to Texas, it’s no wonder Texas is a hotbed for entrepreneurship and business ownership.
If you’re interested in exploring the business landscape and opportunities within the Lone Star State, please contact us for a complimentary consultation. Text “TEXAS” to (832) 797-9851 or send an email to firstname.lastname@example.org..
Five Tips For Growing A Multi-Unit Franchise Empire
As the world’s economy slowly starts to return to normal after the roller coaster that was 2020, many franchise owners are exploring their next steps. The International Franchise Association’s Economic Outlook report projected that franchising’s impact on the economy would grow by 7% this year.
In fact, the report forecasted that an additional 26,000 franchise locations would open in 2021, which would bring the total number of franchises in the U.S. “higher than the 2019 pre-Covid level.” This would add about 800,000 jobs and up to $477 billion to the GDP of the U.S.
With these promising predictions in mind, if you currently run one franchise location, you might be tempted to branch out and grow a multi-unit franchise empire. Read more at forbes.com.
Franchises Join Virtual Restaurant Brand Craze
The explosion of virtual brands in the last year has been nothing short of amazing to watch. Whether it was out of desperation or innovation that restaurant operators looked to add more food items out of the kitchen, the trend is not likely to go away completely when customers can return to dine-in routines.
While coming up with a brand might sound fun, building a virtual concept is not a simple task, and creating a successful one with strong branding, crave-worthy food and synergies with the core business is even harder. Read more at franchisetimes.com.
How to Fund Your Franchise
After years of working for someone else and having gone as far as you can, it’s time to move on. You know it, and your employer knows it. You’ve decided that running a franchise is the best way to go, because not only does it give you the flexibility and independence of being a small business owner, but you get the support and infrastructure of a larger business behind you. It’s an ideal opportunity, and it’s time for you to seize the day and take a chance at being the boss. There’s only one thing left to decide however, how to fund it.
Like opening any business, opening a franchise requires a significant investment of capital. From the initial franchise fee to the ongoing royalties, working capital and advertising costs, an entrepreneur needs cash to get things rolling. While not everyone has immediate access to the kind of money needed to open a franchise, there are plenty of options available to them. Here are some of the most popular. Read more at franchisegrade.com.
6 Tools to Help Entrepreneurs Build Better Credit to Access Financing
Entrepreneur Sharita Humphrey knows firsthand how important it is to build and maintain positive personal credit. Several years ago she hit rock bottom financially, which resulted in her and her two small children being evicted from their apartment. A motel became their home for almost a year. She knew that she had to rebuild her finances and personal credit because two of her goals required both. She was determined to secure a new home for her family and to get a job working for the government.
By building her credit, Humphrey was able to accomplish both of her goals, and her government position gave her the financial stability that she never had before. After a few years of working, she struck out on her own as an entrepreneur, helping others through financial coaching and education. Her business ventures would lead her to be recognized in 2020 as the National Financial Educator of the Year, to become a brand partner and media spokesperson for fintech company Self Inc., and a contributing writer to America’s SBDC, among other accomplishments. Read more at allbusiness.com.
“Risk more than others think is safe. Dream more than others think is practical.” — Howard Schultz (Starbucks)
What’s Hot in Franchise M&A for 2021, Plus Seller Advice
The first thing Boxwood Partners looks for when working with a new franchisor is franchisee profitability, according to J. Patrick Galleher, managing partner at the boutique investment bank which has closed more than 35 transactions since launching in 2008. Factors such as the quality of each location and territory plus the health of the franchisee network come into play, including both retention of franchisees and tenure and new franchise development and validation.
“Franchisors, even if their financials are good, if franchisees’ financials aren’t fantastic, it’s going to have trouble during the process of doing good diligence,” Galleher said. “So the franchisors we see getting the highest multiples and the most interest when taken to market are the ones that truly have very strong franchisee financials and quality franchisees.” Read more at franchisetimes.com.
Will Your Business Make A Successful Franchise?
Every business owner enters their new venture with a vision. Though success is certainly a mix of objective targets and subjective value in the eye of the beholder, every business owner wants to see growth in some form or fashion, and there are many ways to achieve that goal. One of them is franchising.
While franchising allows the possibility of growing your business regionally or even nationally, the decision to go this route requires diligent and objective long-term thinking. When we chose to make my business a franchise, the decision came after months of evaluation.
Franchising means essentially running an entirely different business than the business being franchised. For that reason, you should consider several factors in your decision-making process and determine whether the franchise route is not only your best option but one that is viable in the first place. Read more at forbes.com.