Category: Entrepreneurship

Acceler8Success Cafe Saturday 11.21.20

7 Ways Successful Entrepreneurs Refuel Over the Weekend

As entrepreneurs, we don’t treat weekends like other people do. When the concept of a weekend began, it was because the workweek (Monday through Friday) was supposed to be for labor, and the weekend (Saturday and Sunday) was dedicated to rest. 

However, when you’re an entrepreneur, you’re always on. The weekend just means two more work days, and many aren’t dedicating any time to rest. But when we start burning the candle at both ends—eliminating all chances for rest and recuperation—we start working against ourselves and snuffing out our creative energy. Read more.

Make Mindfulness a Habit

Developing a sustainable meditation practice is hard. So hard, in fact, that when I start working with executives, most tell me that they’ve tried meditating, but only a very few report having a regular practice. This isn’t because they don’t see benefits. Many say things like, “I noticed a clear difference in how my day went when I started it with meditation — I would be more focused and less likely to get sidetracked.” Or, “On days I practice meditation, stresses would more easily flow off me.”

Still, very few of these executive stuck with it, because they struggled to find the time (“I did my meditation for two weeks, then work got really busy and I fell off the bandwagon”) or because after a while they felt their practice “wasn’t working” or that “my mind was just too busy to quiet down.” Read more.

5 Remote Work Practices for Better Work-Life Balance

Eight months into a pandemic with many of us still working from home, a healthy work-life blend may feel unattainable. According to Telus International, four out of five respondents have found it challenging to shut off from work in the evenings.

That same survey found that over half of respondents have not taken a mental health day since they started working from home due to the pandemic, despite 97 percent saying that vacation days while working from home are important in order to recharge. Read more.

What’s Your “Ought Self” Like?

Our ideal self is the person we want to be. Our ought self is our understanding of what others want us to be—what we ought to be and do. Then there is our actual self. What happens when our actual self doesn’t match the ideal or ought selves?

E. Tory Higgins defined the relation between these various selves—actual, ideal and ought—in his self-discrepancy theory. The ideal and ought selves are our “guides” or standards that we use to organize information and motivate action. The motivational properties of these selves are related to the specific emotions that are associated with the discrepancy between the actual self and either the ideal or ought self. Read more.

What Does Entrepreneurial Freedom Mean to You?

For many people, one of the main motivations behind starting their own business is the idea of the freedom it represents. In many ways, this is quite a bizarre concept because most of the small business owners I know are also some of the hardest working people I know. Despite this, I know very few who, once they have made the leap, would go back to the 9 to 5.

Entrepreneurial freedom is about so much more than escaping the same old, same old of the working day. It’s about being the master of your own destiny and reaping the rewards of your own endeavours. Read more.

Acceler8Success Cafe Friday 11.20.20

Teaching Entrepreneurship Will Be Key To The Post-COVID Recovery

The impact of COVID-19 has sent unemployment soaring. Over the past six months, communities of color have been the hardest hit, with more than 3 million Black Americans now without a job. Six in ten Latinx Americans say their households have experienced job losses or pay cuts as a result of the pandemic.

But Black and Latinx people were facing an economic crisis long before the arrival of COVID-19. The typical net worth of a Black family was already ten times lower than that of a white family. At the start of this year, the unemployment rate for young Black workers was at 16 percent, higher than the COVID-fueled national rate that prompted trillions of dollars in federal relief from lawmakers. That rate has since increased to a startling 28 percent. COVID-19 has only exacerbated the existing racial gaps in our economy. Read more.

Startup Week 2020: Could the pandemic lead to more entrepreneurship?

The economic news these days is mostly terrible. The pain caused by the pandemic is real and visible, and the numbers we can put to it are staggering: the highest unemployment since the Great Depression, hundreds of thousands dead, and $16 trillion in economic damage in the US alone.

Yet there glimmers of good news if you pour over the data. New businesses are being formed at a higher rate than last year, both nationally and in Alaska.

Over the last five years, the state has fit a particular pattern of growth and decline, according to the Census Bureau’s Business Formation Statistics. When the economy was in recession from 2015-18, business starts were up. Read up.

Austin and Salt Lake City Are the Hottest Startup Hubs Today. Here’s How They Became Boomtowns

Austin and Salt Lake City are, once again, Inc.‘s No. 1 and No. 2 Surge Cities. Austin boasts the greatest density of high-growth companies and the highest rate of job creation of any city on this year’s list. Salt Lake City ranks third for high-growth-company density and eighth for net business creation. What made them surge? Key recent developments in each city tell the story. Read more.

The Success Habits of QB and CBD Entrepreneur Carson Palmer

Former NFL Pro-Bowler Carson Palmer is the latest high-profile pro athlete to get into the CBD game. Palmer won the Heiman trophy winner in 2002 and went on to spend 15 seasons as an elite quarterback.

Recently, Palmer partnered with CBD brand Level Select as an investor and spokesperson, making him the latest pro athlete to jump on the CBD train. The former QB never expected to be part of a CBD company, but a chance meeting with Erick Dickens, CEO and Co-Founder, Kadenwood, LLC, on a golf course changed that. Read more.

Houston-based Pepperoni’s growing popularity among consumers is based upon consistency in delivering high-quality NY Style pizza, exceptional customer service and excellent unit-economics. Coupled with a strong branding program, technology integration and low-investment level, Pepperoni’s, founded in 1990 is positioned to be the next disruption in the Pizza segment of Franchising. Request Info

This millennial couple earns $6 million a year from YouTube and real estate—here’s how they spend their money

This story is part of CNBC Make It’s Millennial Money series, which profiles people around the world and details how they earn, spend and save their money.

In 2017, Kevin Paffrath’s dream was to earn over $1 million a year from The Paffrath Organization, the real estate business he owns with his wife, Lauren, in Ventura, California.

In 2020, the couple earned $1.075 million in May alone. “It was absolutely surreal,” says Lauren, 30, of the moment they crossed into the seven-figure-a-month territory. Read more.

How we can revive entrepreneurial courage in America

Thirty years ago, Fortune Magazine ran a story proclaiming much hope and optimism that our nation was in “a golden age for entrepreneurs” that makes these “the best of times for launching a business in the U.S.

The evidence in 1990 was clear: Our economy was expanding, with new opportunities for new-starts. Personal capital was plentiful. And the power of the computer had leveled the playing field for the smallest of businesses. Read more.

How Women Entrepreneurs Benefit from Mentorship

The U.S. Small Business Administration (SBA) calls mentoring “the missing link to small business growth and survival.” A survey by the UPS Store showed 70 percent of small businesses that received some sort of mentoring survived past the five-year mark. That’s double the survival rate of non-mentored companies.

For the women-owned business, this mentorship can help overcome some of the additional hardships they face due to their gender. For example, women-owned business loans are more difficult to secure and pay inequities between men and women are still an issue. Mentoring can help the women-owned business by providing crucial tips for starting a small business—or sustaining it. Read more.

If you’re looking for a business lending source to help finance your start-up or manage your future wealth, contact us today. Benetrends Financial, a pioneer in the industry, has helped thousands of potential small business owners like yourself secure funding over the past 35 years. Learn more.

Acceler8Success Cafe Special Franchising Edition Thursday 11.19.20

6 Ways Being in a Franchise System Helped Me Survive Covid-19

Want to know one of the most difficult decisions I have ever made as a small business owner? Whether or not to become a franchisor and turn my brand into a franchise system. Turning Code Wiz into a franchise system came with many hard moments that challenged me as an entrepreneur. But becoming a franchise system has also rewarded me in ways I could have never even imagined. The other thing I could have never imagined? Living through a global pandemic as a business owner and leader. 

But here I am. The proud owner of a franchise business and a survivor of 8-months of Covid-19 and the health and economic impacts it created. I am grateful every day – for both the health of my family and that I turned my business into a franchise. Because turning my business into a franchise system helped it survive Covid-19. Read more.

Are you thinking of going into business for yourself and learning how the choice of a franchise can “jump-start” the process and your earning potential? Learn how.

Acquiring A Franchise System Requires Due Diligence On The Survival Of The Franchise Model

For several years private equity and other investors have been well advised to put analysis of joint employer and employee misclassification risks on their due diligence list. Assessing the degree to which a franchise program is at risk for a joint employment finding includes reviewing arrangements like training of franchisees’ employees, assuming responsibility for management of units or requiring the use of employee-management software. This assessment has now become a normal area of investor inquiry. Read more.

Are you ready to franchise your business or put your recently franchised brand on the right track? Learn how.

About the Franchise News Podcast

Host Jack Monson reports every Wednesday on the latest news for franchises and small business owners including government relations issues, brands’ news, industry events, and franchise professionals’ moves. Check it out!

How franchise execs tackle mental health issues

A photo montage of producer and actress Reese Witherspoon is floating around, drawn from her  TV and movie roles and purportedly showing her decline during the pandemic.

In January, she’s literally wearing rose-colored glasses, looking hopefully toward the sky. In March, she’s intensely talking on the phone but still perky and blonde. By September, her hair is a mess and her face haggard. Her comment on Twitter: “Yup.”

Franchise leaders can no doubt relate as the COVID-19 crisis drags on. And while the Witherspoon montage is silly, the subject of maintaining mental health, from the executive suite to the front lines, is serious. We asked franchise leaders what they’re doing after six months and counting of non-stop stress. Read more.

Evolving Worker Classification Standards and the Future of Franchising

From a ballot measure in California, to a court decision in Massachusetts, to federal regulations proposed by the Department of Labor, several recent developments could impact whether a franchisor’s independent franchisees are deemed to be “independent contractors” or “employees” of the franchisor. As such determinations strike at the heart of the traditional franchise model, all franchisors should remain up to date on these developments. Read more.

Tough Times Reveal Character

What would it mean, and to how many people, if you shut your doors today? In addition to your employees, those people would include your lenders, your landlords, your suppliers, even your accountant and attorney—as well as your community, from the local food bank to the Girl Scouts to No Kid Left Behind to… well, you get it.

As bad as you may feel you have it right now, there are a lot of people counting on you, and in so many ways… your young employees seeking career training and guidance or helping their families pay the bills, your management team and back room staff, even your franchisor. So it’s on you, as a leader, whether you like it or not, to lead. Read more.

Please remember that many small businesses and restaurants are franchises owned by a single person. So, please keep that in mind during the upcoming #SmallBusinessSaturday which is put on annually by American Express the day after Black Friday. And, if AMEX hasn’t allowed a particular franchise into the program (yes, there are still limitations for franchises in Small Business Saturday rules) please shop or dine there anyway. It’s important we support small business and franchising at all levels and everywhere as we continue to fight through the effects of COVID. Read about Small Business Saturday.

Acceler8Success Cafe Wednesday 11.18.20

Brick and Mortar Business in These States Are Rebounding from the Pandemic

The COVID-19 pandemic continues to cause pains for the nation’s brick-and-mortar locations. While some areas of the country are seeing a glimmer of hope, others are still struggling through the recovery.

A new study from Zenreach, a retail marketing technology company, found that foot traffic to the nation’s retail and other locations has remained steady throughout most of the pandemic, although at roughly half of the pre-pandemic levels. Read more.

Remember, there are many that cannot go home for Thanksgiving. Let’s be sure to keep them and their families in our prayers throughout the holiday season and that they at least get to come home at some point, safe and sound. To all serving our country, including their families, thank you for your service and sacrifice that allows each and every one of us to enjoy the freedoms we typically take for granted. Thank you! – Acceler8Success Cafe

How to Check That DEI Efforts Are Working at Your Company

Introducing and monitoring diversity, equity, and inclusion (DEI) efforts can sometimes seem like a daunting task for small businesses. While owners are often already stretched thin by being forced to wear several hats, there are steps small businesses can take to set up DEI programs and measure the progress of new or existing initiatives. Read more.

“Find a customer with a true need then build your business plan around solving this gap. Developing a business and then trying to find a customer is the wrong way around and will make an entrepreneur destined to fail.”

Robert Herjavec, Entrepreneur, Shark Tank Celebrity

55% of Entrepreneurs Worry About Fraud Due to COVID. Here’s the Solution

When the pandemic pushed everyone remote, suddenly freelancers and small businesses used to doing business in cash started accepting digital payment options. According to one study, this shift caused a surge in fraud concerns. New data just released by Paysafe found that 55% of entrepreneurs say fraudulent transactions is one of their top worries since the pandemic started. As cybersecurity for freelancers becomes a more critical topic, one area people should pay attention is to payments. Read more.

Why Partner With Benetrends For Your Small Business Loan Needs?

You’re ready to begin your entrepreneurial journey, and you want to know: “What are some of my options for funding a business?”

To find the right solution, one that is absolutely right for your business and its growth, Benetrends Financial helps you customize a funding option that best meets your current and future needs – a service that other funding companies don’t provide. Learn more.

Kevin O’Leary: Why young people should start a side hustle right now

According to investor Kevin O’Leary, you’re never too young to start a side hustle and grow a business – and now, while social distancing due to Covid-19, O’Leary says it’s the perfect time to do so.

“Say you’re in high school … why don’t you start a business while you’re sitting around the house? Barriers to entry are very low,” he tells CNBC Make It. “Why wait?”

The pandemic shouldn’t be a deterrent, as “some of the greatest businesses are founded in times of extreme stress,” he says, using the example of crowdfunding platforms Indiegogo and Kickstarter, which both started during the Great Recession, in 2008 and 2009 respectively. “These were businesses started out of necessity that are now global.” Super successful companies, like Airbnb, Uber, NerdWallet, Venmo and Square, also came out of the Great Recession. Read more.

This Is An Entrepreneurs Surefire Weapon Against Burnout

Entrepreneurs are responsible for forging their paths forward in business, but that can lead to burnout, fast.

The best way for entrepreneurs to fight against burnout is by developing emotional intelligence. Here are a few ways this commonly misunderstood soft skill will help protect your mental health and transform your day-to-day. Developing emotional intelligence will help you… Read more.

Seeking guest blog posts about or related to entrepreneurship and small business ownership for Acceler8Success Cafe. First paragraph or two will be posted on our site with direct link to the post on your site. Please contact us via email to info@Acceler8Success.com. Thank you!

Acceler8Success Cafe Tuesday 11.17.20

Meet the small business owners who pivoted to digital-first offerings – and thrived during lockdown

When the pandemic first hit, small businesses had to quickly come to terms with the “new normal,” be it social distancing regulations, implemented capacity limits, or forced lockdowns. While 2020 was a challenging time for all, some small business owners found ways to show their creativity, resilience and adaptability in the midst of the pandemic. Read more.

Please remember that many small businesses and restaurants are franchises owned by a single person. So, please keep that in mind during the upcoming #SmallBusinessSaturday which is put on annually by American Express the day after Black Friday. And, if AMEX hasn’t allowed a particular franchise into the program (yes, there are still limitations for franchises in Small Business Saturday rules) please shop or dine there anyway. It’s important we support small business and franchising at all levels and everywhere as we continue to fight through the effects of COVID. #shopsmall #dinesmall #shoplocal #shopfranchise #dinelocal #dinefranchise

SCORE topics: Is the time right for business ownership?

In the midst of all the uncertainties that have characterized the business and finance world in 2020, one of my biggest surprises has been the increasing number of people seeking out advice on franchised business ownership as a career option.

In addition to their desire to explore creative business opportunities, many of my clients have been motivated by a wish for greater control of their financial security in their work and professional lives but they are also concerned about the inherent risks of business ownership. As I explore the risk/opportunity balance with prospective franchisees, these are some of the factors we discuss regarding how to minimize the risk side of the opportunity equation. Read more.

How to Support the Woman Entrepreneur in Your Life

Women entrepreneurs are all around you, despite facing a myriad of challenges.

Challenges such as pay inequity or having a tougher time receiving traditional loans40 percent of new entrepreneurs each year are women. In fact, it’s often the fact that women want the chance for better income the serves as the impetus for starting a small business.

How can you provide small business support to support these scrappy entrepreneurs seeking to beat the odds? This article enumerates ways to offer real support to female entrepreneurs, be they family members, friends, or owners of small businesses you frequent. Read more.

3 Tips for Solopreneurs to Stay Ahead in a Constantly Changing World

Sodan Selva was on the fast track early in his career. He went to grad school, studied economic development and landed a job in investment banking.

But his dream wasn’t to be an investment banker. His dream, from the time he was 9, was to be a musician. So he saved up his money as an investment banker, then quit his job and struck out on his own. It’s the stuff legends are made of—the young and passionate dreamer turning his back on the cushy and safe but also stuffy and boring desk job to carve his own path, to follow the road less traveled, to chase the muse that had grown in his heart since he was a young boy.  

Two decades later, Selva’s analysis of this first bold move of his career is succinct: “That was my first majorly failed entrepreneurial adventure. It was all passion, no product market fit.” Read more.

10 Business Skills for 2021 That You Can Master on Weekends

In business, you should always be growing. And part of that is learning new skills and trends that are happening in your industry. It’s hard to find time for professional development but with early Black Friday deals on courses in the Entrepreneur Store, you might be able to work something out. Learn more.

Are you ready to own your own business?

Small business and restaurant resales are on the rise making it an excellent time to consider owning your own business brokerage office. National broker firm offers:- Executive business opportunity- Low initial investment from $25k- Various profit centers- Excellent commissions- Growing database of buyers, businesses & franchises- Initial training, marketing assistance and on-going support- Network of 70+ offices throughout the U.S. and abroad- Brand founded in 1981. Learn more.

Bilingualism in Business: 6 Ways To Improve Your Spanish Proficiency

Being bilingual offers many professional advantages. Regardless of your native language, learning another language can give you a competitive edge in the business world.

Spanish, in particular, is useful. For instance, with more than 52 million native and Spanish-language speakers, America is now the second-largest Spanish-speaking population in the world after Mexico.

U.S. based organizations that don’t communicate in Spanish are overlooking a significant audience of multicultural consumers. How significant? U.S. Hispanic buying power is now greater than the gross domestic product of Mexico. Therefore, it comes as no surprise that a growing number of professionals are eager to learn Spanish for business purposes. Learn more.

Acceler8Success Group has achieved success in many aspects of small business and franchising. Widely recognized as industry leaders and influencers, Acceler8Success Group leadership have extensive experience as entrepreneurs in small business and restaurants, as senior-level executives within nationally recognized brands, and as franchisees within successful franchise systems. Learn more.

Acceler8Success Cafe Monday 11.16.20

How Being An Entrepreneur Outside of Your Business Life Creates Success

You can find entrepreneurs in everyday people, the kind of people you see at the grocery store, and in your neighborhoods. Everyone has entrepreneurship inside of them; it’s just how they use it. Some of these people create opportunities for their business, and others create opportunities for their life. Very few people can do both.  

David Baker is one of the people who live an equally exciting business and personal life. An author, speaker, and advisor of entrepreneurial experts, this guest on Making Bank is a successful man who launched a 25-year career of advising experts in their fields. Being called the “experts’ expert,” Baker is here to discuss how his life is just as exciting outside of his work life, how when you get caught up in current success it can cause damage. Read more.

Here’s why you should teach kids entrepreneurship early in life

We’ll always need doctors, lawyers, accountants, but entrepreneurs have always been an imperative breed required to bring innovation and impact the way the world shapes. The last 50 years have witnessed some of the most important innovations from entrepreneurs from companies like Apple, Microsoft, and Google.

Today the world is changing at a dynamic pace, and advancement in innovation is happening across all sectors. This ever-evolving environment calls for coaching our kids with certain entrepreneurial or problem-solving skills early in life to stay abreast of their chosen career path in the future. Read more.

About Global Entrepreneurship Week – November 16-22

Global Entrepreneurship Week is a collection of tens of thousands of events, activities and competitions each November that inspire millions to explore their potential as an entrepreneur while fostering connections and increasing collaboration within their ecosystems.

Diversity is a driver of innovation and economies suffer if a nation or group of people are underrepresented or face structural barriers – the world needs more entrepreneurs. Powered by the Kauffman Foundation, Global Entrepreneurship Week has expanded to 170+ nations since its launch in 2008 with 20,000 partner organizations now serving as GEN’s community-building backbone.

Through GEW, GEN seeks universality, striving to be inclusive of individuals and communities who have traditionally faced barriers to entrepreneurship whether minority groups, cumbersome traditional institutions or those pushed to the side by strong competition. Learn more.

7 Tips for Emerging Creative Entrepreneurs

In many ways, it’s easier than ever to become a successful creator. Ideas can potentially spread virally thanks to social media and online platforms. As an entrepreneurial artist, you can create an amazing life for yourself. However, it may require you to take your focus off of superstardom and shift it toward monetizing what makes you happy. Having realistic expectations and clear, attainable goals, will go a long way in helping pave the path towards your future. Read more.

Why entrepreneurs need to stop glorifying persistence

Let’s talk about one of the most popular terms in entrepreneurship: persistence. It has an excellent reputation and is often spoken about with reverence and respect. But I don’t care for it too much. I think persistence is overrated.

A lack of persistence is a problem, but too much of it might be worse. See, I’ve seen my fair share of entrepreneurs who kept barking up the same tree and kept pushing the same shit. They lived through pivot after pivot while congratulating themselves on their persistence. Read more.

Research: The Average Age of a Successful Startup Founder Is 45

It’s widely believed that the most successful entrepreneurs are young. Bill Gates, Steve Jobs, and Mark Zuckerberg were in their early twenties when they launched what would become world-changing companies. Do these famous cases reflect a generalizable pattern? VC and media accounts seem to suggest so. When we analyzed founders who have won TechCrunch awards over the last decade, the average age at the time of founding was just 31. For the people selected by Inc. magazine as the founders of the fastest-growing startups in 2015, the average age at founding was only 29. Consistent with these findings, Paul Graham, a cofounder of Y Combinator, once quipped that “the cutoff in investors’ heads is 32… After 32, they start to be a little skeptical.” But is this view correct? Read more.

Our goal is to help current and aspiring entrepreneurs architect a plan of continuous accelerated movement toward a pinnacle of desired success, even if and when previously thought to be unattainable. This process has been developed around our proven e-IDEA (explore, identify, develop, execute & analyze) methodology. Deployed effectively, it is key to sustainability and ultimately, to success… Acceler8Success! Learn more.

Acceler8Success Cafe Weekly Recap 11.15.20

Today’s edition of Acceler8Success Cafe for Sunday 11.15.20 is our Weekly Recap where we share links to each day’s newsletter from the previous week and a preview of that day’s most popular shared article. We’re pleased to report that the relaunch of Acceler8Success Cafe has been a success as evident by the increasing numbers in views on and shares from our site, across social media and from the many messages received. Thank you to all our readers and previous and new subscribers for helping to put Acceler8Success Cafe on the road to success!

Monday 11.9.20

120 Absolute Must-Read Blogs for Entrepreneurs

The most important key to serious accomplishment as an entrepreneur is, by far, your own internal drive and passion. That’s not something that you can learn. What you can learn, however, is pretty much everything else that is related to business ownership.

Countless investors, marketing geniuses, and wildly successful entrepreneurs have written about their personal experiences — what has worked for them and, often more importantly, what hasn’t. No matter your age, niche, industry, or phase in the entrepreneurial game, this list will help to direct you to the right blogs for your specific needs. Read more.

Tuesday 11.10.20

Why we need to bring the entrepreneurship narrative back to small-business owners

Minority-owned businesses have been hit the hardest by the virus outbreak. In April 2020, during the height of pandemic lockdowns, more than 40% of Black small-business owners reported that they weren’t able to keep working, compared to just 17% of white small-business owners. This disparity may stem from the fact that Black-owned businesses are less likely to have a traditional banking partner, so they have less access to public loans or public resources like the Paycheck Protection Program.

Small business entrepreneurs are often women and people of color, and I doubt it’s a coincidence that those are also the groups who least often receive venture capital funding. When we widen the lens on entrepreneurship, we see that these groups aren’t waiting on VC investments to start being entrepreneurial. In fact, women of color start new businesses at a far faster rate than any other demographic group. Read more.

Wednesday 11.11.20 (Veterans Day)

Veteran Entrepreneur Portal

The Veteran Entrepreneur Portal (VEP) is designed to save time with direct access to the resources necessary to guide every step of entrepreneurship. It also makes it easier for small businesses to access federal services, regardless of its source—and quickly connects Veteran entrepreneurs to relevant ‘best-practices’ and information. Learn more.

Thursday 11.12.20

Dark Truths About Entrepreneurship: What To Do When The Love Is Gone

So you’ve decided you want to be an entrepreneur, huh? City slicking between meetings at the pace of a cheetah and hunting to close the next deal, secure the next partnership, make the next sale. There was an allure to this life that drew you in. Or perhaps, you started simply because you wanted to support your family and being self-sufficient made sense. 

If you’re reading this, it’s highly probable that you’re already living the entrepreneurial “dream.” Yet, it can fast become a nightmare for some. There’s a dark side to this path — and plenty of struggle for those who choose to walk down it. Read more.

Friday 11.13.20

SBA Loans: What Is an SBA Loan?

When a small business owner needs financing, the first option to come to mind is usually a loan through the Small Business Administration (SBA). While many people are familiar with the term “SBA loan,” they often aren’t clear on what these loans are, or even how to get them. We’ve provided a general overview of the common SBA loan programs to help you decide which programs may fit your business needs best.

The SBA provides several small business financing options. The six most common loans offered by the SBA are 7(a) loans, 504 loans, CAPLines, export loans, microloans, and disaster loans. We have summarized the basic requirements, costs, terms, and application process for each of these SBA loans. Read more.

Saturday 11.14.20

Why Family Entrepreneurship is the New Family Business

Many think of family businesses as old-fashioned companies, passed down from one generation to the next, sometimes across three or more generations. Findings from the first ever Family Entrepreneurship Report by the Global Entrepreneurship Monitor (GEM) debunk that assumption. Read more.

Our goal is to help current and aspiring entrepreneurs architect a plan of continuous accelerated movement toward a pinnacle of desired success, even if and when previously thought to be unattainable. This process has been developed around our proven e-IDEA (explore, identify, develop, execute & analyze) methodology. Deployed effectively, it is key to sustainability and ultimately, to success… Acceler8Success! Learn more.

Acceler8Success Cafe Saturday 11.14.20

How to Overcome First-Time Entrepreneurial Fear

Everyone is trying to make a name for themselves. If anything, other people will envy the pride you take in your work. Being an entrepreneur is an admirable thing, even if you’re taking baby steps… Read more.

How Entrepreneurship Can Thrive In Small Communities

Entrepreneurship is something we traditionally associate with large cities. Indeed, a few years ago, entrepreneur James Liang argued in his latest book The Demographics of Innovation, that as cities grow, they enjoy numerous advantages. Read more.

Why Family Entrepreneurship is the New Family Business

Many think of family businesses as old-fashioned companies, passed down from one generation to the next, sometimes across three or more generations. Findings from the first ever Family Entrepreneurship Report by the Global Entrepreneurship Monitor (GEM) debunk that assumption. Read more.

Small Business Lending for Veteran Entrepreneurs

The facts are in; veteran-owned businesses make a big contribution, hiring more than 5.8 million Americans every year and contributing more than a trillion to the national economy.

At Benetrends Financial, we understand the importance of helping veteran entrepreneurs realize their dreams of business ownership. We’ve been working with veterans on small business funding for decades, specializing in small business lending strategies that pay off big in business. 

If you are a veteran looking to launch a business, let us help you with your funding.  You can turn your Thrift Saving Plan or Blended Retirement System without incurring upfront taxes or early withdrawal penalties. To learn more, schedule a consultation.

3 Strategies to Help You Pivot Gracefully

The COVID-19 pandemic has disrupted nearly every industry in the world. As many of us seek to realign ourselves and our businesses, being able to pivot with grace is crucial. 

What do you value? What do you prioritize? What is the biggest dream you have for your life? Answering these questions and noticing what your answers have in common is a great place to start. Read more.

The key is to continue working towards goals, improving while awaiting the “right” time. Patience certainly does not mean just sitting back while waiting, expecting the ideal opportunity to pop up out of nowhere. #Acceler8Success #goals #patience

Acceler8Success Cafe is production of Acceler8Success Group.

Acceler8Success Cafe Friday 11.13.20

5 Ways to Help Your Small Business Survive During the Pandemic

Covid has been the ultimate disrupter to the global economy. Fortune 500 companies and small start-ups alike have felt the blow, but it’s the small businesses that have suffered the most.

Small businesses are the backbone of the U.S. economy. According to the World Economic Forum, small businesses are responsible for employing nearly half of the private sector workforce. However, during these volatile times where social distancing measures have been put in place and mandatory shut-downs have happened, many small businesses have not been able to survive.   

In September, Yelp released its latest Economic Impact Report revealing business closures across the U.S. are increasing as a result of Covid. According to Yelp data, permanent closures have reached 97,966, representing 60 percent of closed businesses that won’t be reopening. Read more.

Veteran Entrepreneurs and Small Business Owners Adapt and Overcome Unprecedented Challenges

“This year, military veteran entrepreneurs have seen their businesses shuttered or put on pause by the pandemic, faced supply chain issues, and have had to continuously adapt operations in response to changing realities on the ground. This year has also shown a spotlight on an issue that has persisted for too long: the systemic racism in our nation that creates barriers to entrepreneurship for entrepreneurs and small business owners that are Black, Indigenous, and People of Color. With that awareness, Bunker Labs is creating a space that helps entrepreneurs overcome challenges posed by the pandemic and systemic racism by providing the tools, resources, and inclusive community that facilitate growth,” said Bunker Labs CEO Blake Hogan. Read more.

Survey: Small business owners’ uncertainty increased in October

More small business owners throughout the country expressed feeling uncertain about their economic future in the month before the election, although general optimism remained steady, according to research by the National Federation of Independent Business.

The NFIB’s Uncertainty Index increased by six points to 98 in October, while the Optimism Index held at 104. 

“Leading up to the presidential election, small businesses continued to focus on stabilizing their businesses but were uncertain about the future economic conditions due to COVID-19 government regulations on all levels,” said Bill Dunkelberg, NFIB’s chief economist. “We see solid momentum going into the fourth quarter, and another good quarter could get the GDP back to its 2019 closing levels.” Read more.

If you wouldn’t think about building a house without blueprints, why would you consider building a business without blueprints? Like plans for a home, business blueprints should include each component necessary for long-term benefit. Franchise Foundry can help ensure you have the right blueprints specifically for you as you explore the American Dream of business ownership! Learn more.

Five Emerging Disruptive Technologies For Entrepreneurs To Observe

While there are endless articles highlighting the benefits of artificial intelligence (AI), augmented reality and blockchain, there are other emerging technologies that are often neglected by entrepreneurs. These technologies have the potential to completely disrupt the aerospace, health and manufacturing sectors. In this article, will explore five potential breakthrough technologies and how I believe they will converge. Read more.

Election Results Frame Positive Future For Franchising

This 2020 election season has been one like no other. The months leading up to election day — and indeed the days following election day — have been both passionate and tumultuous. With the election now over, the future for franchising is predictable and promising. Read more.

Franchise Foundry represents a number of quick service restaurant (QSR) brands realizing year-over-year sales increases.- Low initial investment – Funding support- Site selection assistance- Small real estate footprint- Support & training- Multi-unit opportunities- Multi-brand opportunities. Learn more.

SBA Loans: What Is an SBA Loan?

When a small business owner needs financing, the first option to come to mind is usually a loan through the Small Business Administration (SBA). While many people are familiar with the term “SBA loan,” they often aren’t clear on what these loans are, or even how to get them. We’ve provided a general overview of the common SBA loan programs to help you decide which programs may fit your business needs best.

The SBA provides several small business financing options. The six most common loans offered by the SBA are 7(a) loans, 504 loans, CAPLines, export loans, microloans, and disaster loans. We have summarized the basic requirements, costs, terms, and application process for each of these SBA loans. Read more.

Small Business Administration (SBA) Loan

Benetrends has been securing SBA financing  for 35+ years and has one of the best loan approval success rates in the industry. With a large and expanding network of lenders, you will have choices when it comes to selecting a loan.  You’ll also have access to our dedicated staff – experts in loans for businesses – to ensure the fastest possible application processing, including a dedicated loan closer to assist with the closing process. Learn more.

Acceler8Success Cafe Thursday 11.12.20

How to Overcome First-Time Entrepreneurial Fear

Picture this: you’re swimming across the open ocean, but have no idea where you’re going. Slowly, but then all at once, the panic sets in. The sea is massive. It’s terrifying. Very quickly, it begins to swallow you up.

You need a plan, or you’re going to drown. Unlike a regular job where your boss gives you tasks to do every day, you’re your own boss. Read more.

The Voices Of Entrepreneurs, From Arkansas To Appalachia To Montana

When we lose small businesses, our divisions deepen. In the 30 years leading up to the Great Recession, fully 80% of metro areas experienced an increase in the number of firms annually. This trend was completely reversed by the Great Recession, after which only 20% of metro areas have seen an increasing number of companies created. New business formation has been depressed in most of the country. Read more.

Dark Truths About Entrepreneurship: What To Do When The Love Is Gone

So you’ve decided you want to be an entrepreneur, huh? City slicking between meetings at the pace of a cheetah and hunting to close the next deal, secure the next partnership, make the next sale. There was an allure to this life that drew you in. Or perhaps, you started simply because you wanted to support your family and being self-sufficient made sense. 

If you’re reading this, it’s highly probable that you’re already living the entrepreneurial “dream.” Yet, it can fast become a nightmare for some. There’s a dark side to this path — and plenty of struggle for those who choose to walk down it. Read more.

Are you ready to franchise your business or put your recently franchised brand on the right track?

10-Step Roadmap to Franchising Success

You’re intimately familiar with your starting point – the business you’ve nurtured and grown. You understand your destination – successful franchises around the country or around the world. You have the passion and the proof of concept, but you don’t have the roadmap to move from point A to point B. You’re not alone. 

Most business owners looking to expand into franchising are both anxious and excited, unsure and confident. It helps to learn from those who have traveled the road on which you’re about to embark, both to avoid the potholes and to recognize the markers that lead to success. Read more.

Follow This Entrepreneur’s 3-Step Approach to Cultivating a Killer Brand

Branding is the most commonly used phrase in business circles, but is also often the least understood.

For Jonathan Jadali, CEO of Ascend Agency, a PR form that works with top Fortune 500 companies, a brand is not a tangible thing. As he told me in a recent conversation, it is “a strong feeling that a business creates in the minds of its customers, that creates an emotional bond and passion for their businesses and produces loyalty.” Read more.

If you’re looking for a business lending source to help finance your start-up or manage your future wealth, contact us today. Benetrends Financial, a pioneer in the industry, has helped thousands of potential small business owners like yourself secure funding over the past 35 years. Learn more.