Category: Startups

Weekly Review June 26-July 2

Posted on by Paul Segreto

Sundays are a time for review at Acceler8Success Cafe. With so much going on at Acceler8Success Cafe I know it’s easy to miss a newsletter or two. Possibly the week flew by without you noticing one our daily newsletter that seemingly got lost amongst the busy news feed.

Just like an experience at your local cafe, I really want Acceler8Success Cafe to be conveniently located when you desire or need to relax, enjoy a cup of coffee, and catch up on some reading. My goal is for Acceler8Success Cafe to be your virtual cafe. A place where you may frequently visit to enjoy a few minutes to yourself.

I’d like the experience to be memorable by providing learning opportunities, by presenting a different perspective & insight, by spurring thought & reflection, by encouraging interaction, and by spotlighting topics that, frankly, may not be as front and center as they should or need to be.

Acceler8Success Cafe is open for business seven days a week. For the benefit of current & aspiring entrepreneurs, this daily newsletter is delivered each morning. As a way to jumpstart the week ahead, a weekly review is delivered each Sunday morning listing and linking to the articles you might have missed during the previous week. My objective is to provide an opportunity for you to begin the new week informed and with ideas that possibly could accelerate your success.

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Welcome to the Sunday ‘Weekly Review Edition’ of Acceler8Success Cafe!

Networking is essential to success. So, why half-ass it?

Networking is your lifeblood for a long-term success. It’s often been said that one’s net worth is their network. Yet, many give it a half-assed attempt. Why do you think that is the case when effective, diligent networking produces positive results? If not immediately, then at some point, for sure.

Are we headed to the Hotel California… or, have we already arrived and cannot leave?

From the late-60s and through the 70s it was a different time for sure, but not really much different than today. War, drugs protests & riots, and recession made the headlines then as they do now. Is it a cycle, or is just a plethora of unsettled business that has lingered on for the past 50 years, a beast raising its ugly head now and again to keep our attention?

Treating Goals Like Utility Bills

Do your goals have due dates? Firm due dates similar to utility bills complete with a termination date, late fees, and disconnection notices? Could doing so create a sense of urgency? How about accountability?

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Top 5 Stories of Q2 at Acceler8Success Cafe

I’ve developed Acceler8Success Cafe to help current and aspiring entrepreneurs succeed. I’m dedicated to entrepreneurial success at all levels. Whether to help others achieve work/life balance or to just be there to help someone pull out of a tailspin, my goal for Acceler8Success Cafe remains… to be a resource, on LinkedIn and across various social media to share information, to educate, and to provide an opportunity for interaction.

Work/Life Balance: Plan Accordingly

A long weekend is the perfect time to reset the clock on work/life balance. It’s a perfect time for some mental health maintenance. It really is a perfect time for new beginnings.

Thinking about investing in a franchise? Do your due diligence!

If you’re thinking about business ownership and considering whether franchising is right for you, the information shared at Acceler8Success Cafe will help you make an informed decision and provide clarity on your entrepreneurial journey.

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Are you ready to own a business?

Are you thinking of business ownership for yourself and learning how the choice of a franchise, startup or acquisition can “jump-start” the process and your earning potential? 

Well, Acceler8Success Group can help. Working with in-house small business professionals you will work one-on-one in determining if you’re right for buying a franchise, starting a new business, or acquiring an established business, and whether business ownership is right for you. 

If you determine that it is a path to consider, you will be introduced to various industry segments and ultimately, brands & companies that could be a “right-fit” option . . . all to help ensure your future success!

Have a great day. Make it happen. Make it count!

I am an entrepreneur. Go ahead. Say it!

Posted on by Paul Segreto

Why is there reluctance to say, I am an entrepreneur? I’ve been asked that question many times. Heck, I’ve asked that question of myself on more than one occasion. It seems, at times we’re prouder to call ourselves, Founder or CEO or to say, I’m a business owner. Why is that?

Are those titles more respectful than, entrepreneur? Yet, we hear of late, we’re in an entrepreneurial economy. So, is that a bad thing or a good thing, and especially if we have a hard time fully admitting to entrepreneurship? Or should we just be entrepreneurial in how we approach our work, whatever that truly means?

Are we claiming to be in an entrepreneurial economy to justify the disappearance of the lifelong career at one company and this is just a way to say we need to create and prove ourselves over and over again, and forget the gold watch?

Back to the reference of being an entrepreneur… Is there a stigma of being a dreamer, always looking for something better, bigger, faster as opposed to what some believe is mundane, repetitive work with the security of a paycheck? Often, I hear it’s mostly due to yesterday’s immigrant mindset of being thankful to just have a job, yet it’s that same immigrant mindset that is the epitome of entrepreneurship.

 “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

We are living our fears.

Actually, I believe it’s because of fear — fear of failure, fear of what other people think, fear of the unknown, fear of the what if, fear of starting over, fear of change… But it’s when those fears are hit head-on and the adrenaline rush of success far outweighs those fears because you know, deep in your heart that you have a deeply ingrained talent that can and will make a difference.

Does that mean failures aren’t possible? Hell no, but it’s working through those failures, those blips, those aberrations that provide experience and resiliency to improve and innovate to make the next step, the next task, the next venture successful. That is entrepreneurship. And it’s when I don’t consider what I do as entrepreneurship, is when failure mostly occurs. Conversely, it’s when I focus on what I do as an entrepreneur, complete with that thinking outside the box and failure is not an option perspective, and when focused more on results as opposed to opinion of others, THAT is when success mostly occurs.

Yes, I’m an entrepreneur. My focus will stay as such as it is not only good for me, but also for my family and for those that rely on me to help them achieve their wishes, hopes and dreams! Why? Because I believe in possibilities, as without them, there are none.

Nurture Your Business for Optimum Growth

Posted on by Paul Segreto

Think of your entrepreneurial journey much like growing a tree. First, you decide what type of tree you’d like to grow. Next, you learn how best to grow it. You then cultivate the soil to provide a firm foundation, but with necessary room to grow. The seeds go into the soil and it’s time to begin growing. Over a relative time, care is provided along with water, fertilizer and other nutrients so the tree not only grows but grows strong.

“Nobody talks of entrepreneurship as survival, but that’s exactly what it is and what nurtures creative thinking.” – Anita Roddick

For a while it’s frustrating as you stare at the dirt wondering when the first signs of growth will penetrate through the surface — a breakthrough of sorts. Then, one day it appears through the surface of the soil and as fragile as it is you wonder how it had the strength to push through. You then care for the tree a bit more, nurturing it along as it grows and grows, branches sprouting out along the way.

At times, it may look a bit unhealthy, so you move it into more direct or less sunlight, maybe increase watering or add some new fertilizer to the soil around it. You may even relocate the tree to a bigger space, a deeper hole to firm up the foundation so it can grow stronger. And then, you see it blossom as it takes a new form with bright flowers, attracting visiting insects from far and wide. It’s beautiful, but you’re cautious as there are predators that may want to feed off your tree, destroying it along the way. So, you protect it with insecticide or even a cage around it to prevent it from being eaten altogether.

Once mature, your tree will only require periodic maintenance. Sometimes it’ll need to be trimmed and pruned to spur new growth, again making it stronger and stronger and more beautiful than ever. You then think, maybe I should plant another one, and then another? Possibly you can grow them to a certain point and then sell them. After all, you know the process. You’ve gone through the learning curve. You most likely still have some or many of the resources you used to grow the first one. There may even be something new that will help it grow faster.

You see, growing a tree is a process. It takes time. It takes perseverance. It takes care and thought at every step. And yes, it takes you staying involved and committed to, not only the process but to the desired results. If you quit or neglect your responsibilities, your dream and business will die, just as the tree would die.

10 Ways to Grow Your Small Business

Startup or Franchise? Focus on what is best for you but choose wisely.

Posted on by Paul Segreto

Owning and operating a small business was once the exclusive domain of the risk takers of the business world. The true entrepreneur had a distinct flair for creativity, innovation and vision. He, and I emphasize “he”, knew how to operate outside-the-box. He knew how to make things happen. Many times, this individual had little choice as he knew from an early age, he would be responsible for shaping his future and for making it on his own. Formal education was usually limited and often just a far-fetched dream. Corporate life was not even an option. Besides, he couldn’t be told what to do, how to do it and when to do it. No way. No how.

Well, times certainly have changed in the business world. More so recently as many individuals are again faced with economic uncertainty. An advanced degree is no longer the fast track to success. As such, many individuals especially more women than ever before are deciding enough is enough. Wanting to control their own destiny they’re increasingly choosing small business ownership as opposed to leaving their future in the hands of Corporate America.

Sure, the financial aspects are vitally important. That’s a given. However, today’s new small business owners describe their number one priority as establishing true balance in all areas of their life. They desire the freedom of furthering their own personal growth but will limit that growth by their abilities and resources, finding it more important to help others improve the quality of their lives and build long-term mutually beneficial relationships; both business and personal. They firmly believe people and relationships to be the foundation of success even more than money itself as they have determined money (profits) will be the end result of their actions.

This is where the road gets tricky as a decision must be made between starting their own venture and assuming total risk or reducing the learning curve and limiting the risk by investing in a franchise where they would be in business for themselves but not by themselves. The key questions posed by many emerging small business owners are asked very emphatically, “Can I achieve my goals and objectives as part of a franchise system? And do I have what it takes to be a franchisee?”

In addressing these questions (and concerns), it’s relatively easy to analyze the two and realize, beyond the viability of a particular franchise brand as addressed in due diligence of the franchise concept itself, the answers are really contingent and dependent upon each other. The answers actually lie in understanding the mindset required to be a franchisee. Once understood, a choice must be made regarding the desired path either as an independent small business owner or as one of the hundreds of thousands of franchisees across several thousand franchise concepts worldwide.

The typical franchisee must be willing to follow and adhere to a franchise company’s business system and ultimately, promote the same within their new franchise community at all times. It must be completely understood the system cannot be changed by the franchisee nor can their business be operated differently than the franchise company requires as the system is proven and uniform across the chain. It’s this uniformity throughout the organization that is paramount to brand awareness leading to company and franchisee success and is the foundation of an interdependent relationship between both parties to the franchise agreement.

A franchise is almost definitely not the right choice for the business maverick or renegade. Certainly, there is an important place in business and in our hearts for these unique innovators. If not, we wouldn’t know Apple or Amazon as they’re known today. Even McDonalds, as probably the greatest franchise of all time that stormed through the country under the leadership and direction of a true maverick, Ray Kroc, would not have been successful without franchisees being required to strictly follow and adhere to the McDonalds system without fail. No questions asked and no room for negotiation.

Entrepreneurs will be around for centuries to come blazing trails as never before. Some will actually plan to choose franchising as an expansion strategy and build the foundation of future franchise concepts. They will provide a choice for tomorrow’s small business owners on whether to go it alone or invest in a franchise. And it will be those franchisees of tomorrow that will follow, promote and expand those systems that will prove to be the steel, bricks and glass built upon the foundation of new franchise companies. Thus, continuing the growth of franchising as it increasingly expands throughout the world, giving back by affording people more opportunities and options in determining the path to small business ownership that suits them best.

Turning Impossible into Possible

Posted on by Paul Segreto

How many of today’s mainstream brands are offering products and services that would have been considered impossible not all that long ago? Of course, Amazon immediately comes to mind…

Amazon rapidly grew from an unproven concept to one of the most valuable companies in the world within a relatively short period of time.

How many times do you think Bezos heard someone tell him what he was trying to achieve was impossible? Thinking back, how about Jobs, Gates, Walton, Dell, Disney, Ford, Branson? All were entrepreneurs!

Nothing is impossible provided there’s a plan and an unwavering commitment to excellence.

Want to be an entrepreneur? It’s impossible without these 3 characteristics

They go by many names: self-employed, 1099 Contractor, Side Hustle, CEO, Business Owner, or Agency Owner, but our favorite term is Entrepreneur. No more working for the “man!” Be your own boss, set your own hours, answer to no one is the cry of everyone that has ever had to punch a clock, ask to take a bathroom break or be elated with a 5% raise. Why would anyone want to work for someone else for 40 years when they can work for themselves and make millions?

If you could only will things into existence by belief, we’d all be the boss. With over 300 million people living in America today, only 15 million of those are self-employed full time.

We’ve all heard of the Pareto Principle, right? The 80/20 rule? In sales, business ownership, and entrepreneurship that means only 20% have the right skills, masteries and characteristics to succeed. The author of this article, Joshua Jones has personal experience in observing thousands of other entrepreneurs that makes him think Pareto might have under-promised and over-delivered. Seems as if only 5% have what it takes.

So what does it take to be a successful entrepreneur? Jones believes all the books, podcasts, blogs, webinars, and self-help seminars on this subject could be summed up in three simple characteristics found HERE.

“The way to get started is to quit talking and begin doing.” – Walt Disney

Today’s Entrepreneurs

Posted on by Paul Segreto

The world around us has become so noisy that it’s easy to not hear opportunity knocking. In the past, opportunity presented itself in only a few ways… job offers, a referral, an ad in the paper. Business was regimented… 9 to 5, straight forward processes, slow to change, staying inside the box.

Well, technology along with our lost feeling of security, job and otherwise has provided us opportunities and reason that we must keep our eyes open, explore beyond our comfort zones. We must maintain an open mind to create things of value, to control our own destiny, to diversify our income, to take calculated risk, and to think and act outside the box (of complacency, fear and procrastination).

We’re in an environment where the visionaries continue to create the playing field but it’s only doers who will win.

Acting swiftly, yet decisively, albeit deliberately, often throwing caution to the wind, caring little about what others think of them and their decisions, maintaining a laser-focus to not only succeed, but to thrive.

These individuals not only make things happen, but they also make them count, and in a big way.

They are today’s entrepreneurs.

From the Great Resignation to the Next Entrepreneurial Boom!

Posted on by Paul Segreto

The Great Resignation is already drastically reshaping the corporate landscape, but its impact could have repercussions far beyond big businesses.

A new survey indicates that the sizable number of people who are considering leaving their jobs aren’t just looking for new ones with better benefits or salaries. Some see it as a chance to start their own companies – and the result could be a massive influx of entrepreneurs and start-ups.

Since mid-2021, Americans had filed paperwork to start 3.2 million businesses, according to the Census Bureau. That’s a 41% increase over the same time frame in 2020 (which saw the most applications since the Bureau began tracking them) – and a 61% increase over the same period in 2019.

There have been more than 6 million filings since the pandemic began.

Read the Entrepreneurial Boom Could Be Looming HERE.

The Ten Most Common Types of Entrepreneurship

While the basic principles of entrepreneurship are the same—planning, starting and operating a business—the distinct nuances and skills needed vary depending on the type of business you plan to start. Becoming an entrepreneur requires the ability to define these differences and pinpoint the unique elements that are needed.

Traditionally, entrepreneurship is categorized into four main types: small businesses, scalable startups, large companies and social entrepreneurs. These models cover the fundamentals of starting a business and focus more on the company itself, rather than the qualities of the entrepreneur.

“However, just as the world continues to change, so do businesses. This means new opportunities for risk-taking and innovative game changers to pave the way in diverse entrepreneurial ways.”

With this in mind, even though there are quite a few similarities when it comes to the challenges that all business owners will face, there are certain types of entrepreneurship defined by the skills, characteristics, and personality traits of the entrepreneur. At the end of the day, it is the way you choose to run your business that makes them differ from one another.

Read more about the various types of entrepreneurship HERE.

How To Switch From An Employee To An Entrepreneur Mindset

Being an entrepreneur is an exciting and rewarding undertaking and, if you’re motivated by the thought of being your own boss, don’t be put off by the changes you’ll need to make to become a success. Not having one boss can mean you now have many, when you’re answering to your customers, your bank manager and the large number of people who are going to be looking to you for answers.

Being an entrepreneur isn’t the same as being an employee – no matter how high up the career ladder you’ve climbed. But the freedom you get as an entrepreneur means that you can develop your business, and run your life, in the way you think is best.

Read more about making the transition from employee to entrepreneur easier HERE.

Check HERE for books about entrepreneurship.

Acceler8Success Group

To learn more about comprehensive services and resources for current and aspiring entrepreneurs, please visit Acceler8Success Group website HERE.

Visit Acceler8Success Daily at https://paper.li/Acceler8Success-Daily

The Truth About Startups

Posted on by Paul Segreto

The process

Many people think startups are up and to the right all the time. But more exhibit this startup curve than any other growth pattern. Of course, some never get past the “trough of sorrow”. But many do. Mostly by staying focused on the problem they are trying to solve and working diligently to get to the promised land.

Would love to hear some thoughts on this from today’s entrepreneurs!

50 Inspirational Quotes for Startups and Entrepreneurs

“Your work is going to fill a large part of your life, and the only way to be truly satisfied is to do what you believe is great work. And the only way to do great work is to love what you do.”

– Steve Jobs, Co-Founder, Chairman and CEO, Apple

Visit Acceler8Success Daily at https://paper.li/Acceler8Success-Daily

Visit Acceler8Success Group website at www.Acceler8Success.com

Acceler8Success Cafe Friday 11.13.20

Posted on by Paul Segreto

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

Posted on by Paul Segreto

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.