Acceler8Success Cafe Special Edition

Whatever you decide to do or have to do this weekend, be sure to do something, at least one thing specifically for you. Here’s a bit of inspiration and motivation to help you think about and plan for next week. Have a great, safe weekend. Make it happen. Make it count!

“Never give up, and be confident in what you do. There may be tough times, but the difficulties which you face will make you more determined to achieve your objectives and to win against all the odds.” – Marta

There’s a huge difference between goals and wishes but they’re often confused as the same. Why? Because the desired end results appear to be the same and especially if they’re articulated with what appears to be passion. However, the difference comes down to action. Wishes are nothing but talk with no definitive action plan. Goals are real, but only with a definitive action plan. Dennis Waitley states it best, “A goal without a plan is just a wish.

“Whether you’re almost to the top or just barely hanging on, your next move will most likely require an extraordinary effort. Are you mentally and physically prepared to make that effort?”

A Message from Acceler8Success Founder, Paul Segreto

I recently watched “Rounders” for what was probably the 100th time I’ve done so. If you’re not aware of the movie, it’s basically about the dark side of underground high-stakes poker. Movies like this also seem to make a correlation to business for me. For instance, the main character, Michael McDermott says, “Why do you think the same five guys make it to the final table of the World Series of Poker EVERY YEAR? What, are they the luckiest guys in Las Vegas?” That makes me think of the same entrepreneurs that start one business after another, and all succeed. Do you think that’s luck? Hell, no! It’s knowing when to take a calculated risk, understanding the odds, hedging bets when necessary, being patient, exploring opportunities to increase your bankroll and knowing when to take a competitor head-on. It really is a mindset… But we must always remember, “You can’t lose what you don’t put in the middle. [pause] But you can’t win much either.”

Act swiftly. Act decisively. Make it happen. Make it count. #Acceler8Success

Acceler8Success Cafe Friday 6.11.21

Entrepreneurship is the Future of Employment

We are in the midst of a job revolution due to industry change and rapid evolution of technology. Exponential technologies like AI, robotics and automation are predicted to replace many jobs and new inventions will make old technology obsolete. The McKinsey Report states that 15-30% of jobs could be displaced by 2030.

However, it does not mean jobs will disappear entirely; they will be replaced by new jobs in new industries. In addition, the structure of “work” will change. In fact, it has already started. With “gig economy” jobs, like driving for Uber or delivering for InstaCart, traditional full-time employment is becoming less of the go-to standard, both for employers and employees.

What this means is that regardless of the industry in which you currently work, you would be wise to pay attention to changes in the marketplace and where your industry is going. Many people will need to re-tool their skills to pivot into new industries, as old ones fall away.

There is no need to panic though; we have been here before. And with each new wave of innovation, old technologies and industries have fallen away. But every single time industries have died, new ones have been born.

The electric refrigerator disrupted the ice industry. The gasoline automobile replaced the horse and buggy. In the same way, robotics are automating jobs once held by people, and smartphones have replaced the need for CDs, newspapers, books, magazines, cameras, calculators, GPS, and more.

Read more at Addicted2Success.com

Employment As A Pathway To Entrepreneurship

From the United Nations Sustainable Development Goals (SDGs), to municipal government policies, youth employment is recognized as one of the most pressing issues facing the Middle East and North Africa (MENA) today. With a youth unemployment rate of 30%, the MENA region continues to be the hardest place in the world for young people to land a job.

Nearly 60% of the region is under 30 years old, and governments face certain social and economic crisis if they fail to generate economic opportunities. There is an equally dramatic potential upside, too, if youth are enabled to contribute to economic growth and stability in the region. If the region can grow employment by just half a percent, real GDP growth would accelerate to 5.5% per year, and real per capita income would rise annually by 3.8%, according to the IMF.

With 5.5 million young people entering the labor market annually in a region that creates only 3.6 million jobs each year, many posit entrepreneurship and self-employment as an antidote to the current and growing youth employment crisis facing MENA. The International Monetary Fund (IMF) estimates that 27 million new workers will enter the labor force over the next five years. With public payrolls decreasing, and low levels of investments creating new jobs, it is natural to look to entrepreneurship to create employment opportunities that currently do not exist.

After all, in most developed economies the majority of new jobs are created by small business. In the United States, for example, 64% of new jobs were created by small businesses over the last decade, with most jobs added by firms with fewer than 20 employees. A report by Endeavor Insight posited that for every ten successful new enterprises, more than 2,500 jobs are directly created. So, the question becomes: how do we equip the MENA’s tremendous youth population to succeed in becoming job creators?

Read more at Entrepreneur.com

“Start as small as you can. When I started SkinnyMe Tea, I had $24 in the bank, and I was entirely self-funded. If you are not embarrassed by the first version of your product; you’ve launched too late.” -Gretta Rose van Riel, Founder of Hey Influencers

9 Reasons Why Being an Entrepreneur Is the Best Job

Most of us harbor dreams of becoming entrepreneurs and make it big in the business world, but not all of us actually make those dreams come true — very few of us are bold enough to do what it takes to become entrepreneurs.

There’s no denying that it takes immense dedication, discipline, and hard work to just survive, let alone make it big, in the business world. However, running our own businesses also allows us to follow our passions as well as empower us enough to do so.

Some may say that it’s all about the drive that makes certain people want to quit their jobs and strike out on their own. Having said that, it would only be natural for wannabe entrepreneurs to wonder as to what some of the world’s most renowned and successful business owners had on their minds when they decided to be their own boss and run their own show. There are several answers to that.

Learn more at AllBusiness.com

Do These 10 Things Before You Quit Your Job

If you are starting your own business and planning to quit your job, you are a brave person. Everybody wants freedom. But just like all the other great things in life, it has its own cost. Only a few people can pay for it. 

Entrepreneurship involves certain risks. You have to make new plans, new teams, and make decisions at the right time. Therefore, proper planning is necessary. You should be familiar with all the pros and cons of the whole process. Otherwise, the plan might backfire for you.

Learn more at StartupMindset.com

Preparing for Entrepreneurship

Let me get this straight — entrepreneurship is not for the faint hearted. Taking risk is not something people should go into at the drop of a hat. The life of a Startup founder requires a lot of preparation and intent. Dropping everything to start your own company is always a dream for many people who want financial independence and progression. However, it is always necessary for you to critically prepare yourself for the lean years, before you leave your day job, and leap into entrepreneurship.

The first and foremost thing that you need to accept to become an entrepreneur is yourselves. Prepare yourself mentally. It isn’t about the product although it is a part of the process. Most of the startup success or failures have and emotional aspect connected. However big a small the profit you make, reality is you never stop riding the tiger. It’s always not about your expectations. Its practicality.

Consider most of your businesses is bound to fail before we even 3 quarters. Would you be emotionally ready to see your passion fall apart? Are you willing to put in more work and responsibility than you ever would? Are you prepared to leave your day job working for someone else and work for yourself with 10 times the most sincerity you had with your boss? Chances are you will end up working twice as hard and you will be responsible for not just yourself but your entire group of employees. Before you leap in and take entrepreneur journey of faith, make sure you are prepared to handle any circumstances that surprise you.

Read more at Medium.com

Role of Motivation in Entrepreneurship

Entrepreneurs are known for their tenacity and commitment – to lofty ideals, long hours, and success. They are hard workers who go into a project passionately and find success because they can convince other people of the value of their ideas. A key factor in sustaining this kind of energy, creativity, and drive is motivation. The role of motivation in entrepreneurship is foundational to their ultimate success.

Motivation services as the reason, or reasons, that compel someone to continue striving and working. It provides hope and clarity when circumstances become hard and discouraging. Entrepreneurial motivation, then, is fundamental in someone’s decision to embark on the journey of creating a business.

Motivation is also important to those that entrepreneurs work with and interact with. Entrepreneurs need to understand, tap into, and sustain their own motivation for starting a business, but they also need to be able to motivate others to buy into their idea. Whether it’s motivating investment groups to provide startup funding or motivating eventual employees during the early days, motivation is key to keeping everyone on the same page about the mission of the new business and working towards fulfilling that.

Learn more at TechFunnel.com

Entrepreneurial Motivation

Entrepreneurial motivation is the process of transforming an ordinary individual to a powerful businessman, who can create opportunities and helps in maximizing wealth and economic development. It is defined as various factors stimulate desires and activates enthusiasm in entrepreneurs which make them attain a particular goal. Entrepreneurship is the process of identifying strengths and opportunities which help in the realization of one’s dreams for designing, developing and running a new business by facing threats and risks effectively.

To become an entrepreneur one should identify their strengths and opportunities from the external environment. Here motivation plays a major role in identifying their own strengths to become strong leaders or powerful entrepreneurs which make them to accepting risks and face uncertainty for the purpose of reaching pre-described goals.

Motivation makes entrepreneur by fulfilling higher level needs such as recognition, esteem, and self-actualization. Various theories explained motivation as an influencing concept, it can bring out hidden talents and creativity, and it contributes to the individual goals and society development. Maslow’s need hierarchy theory, Hertzberg’s two-factor theory, and David MC Clelland’s acquired needs theory proved that motivation can bring energy, enthusiasm, creativity and efficiencies in fulfilling the desired objectives.

Read more at MyVenturePad.com

Acceler8Success Cafe Thursday 6.10.21

The quote below is tough to read with conviction because we’ve all been victim to that nasty thing that truly prevents us from achieving more – excuses! Sure, at times we justify our actions by listing reasons why something wasn’t done but were the reasons actually excuses that we eloquently dressed in their Sunday best so they would not stick out like the proverbial sore thumb, soon to be forgotten?

Hey, we all make excuses. If you don’t think so then you’re making an excuse right now, this very second. So, the next time you try to come up with a reason to justify an action or inaction, think long and hard about whether or not it’s actually an excuse that you may be looking for to… sleep late, not exercise, push off that project, stay in your job, plan that visit to the doctor, make that call, continue your education – well, I’m sure you get the picture. If not, there you go again justifying with reasons when they’re really excuses. Have a great day.

Aspirations And Goals: What’s The Difference?

Aspirations and goals are crucial to your pre-MBA strategy. Think of them as your true north, your guiding star in the application process and even throughout your time in business school. Why? Knowing the reasons for pursuing an MBA will help you choose the right program for you – and help you get the most out of your MBA experience.

Let’s face it: An MBA is a serious investment of your time and money, so understanding exactly what you want to get out of it is critical. Plus, most adcoms will also be looking to see that you have described a clear, realistic goal in your application.

You’re likely motivated by both goals and bigger-picture aspirations. What’s the difference? What is an aspiration?

  • goal is something that you plan to do or accomplish in a specific period of time. One way to look at it is this: Industry + Function + Timeframe = Goal. Example: “Immediately upon earning my MBA (timeframe) I plan to become a consultant (function) at a top strategy consulting firm (industry).”
  • An aspiration (or vision) is broader both in impact and timeframe. Example: “As a manager, principal, and partner (function + timeframe, since this shows career progression) at a major consulting firm (industry), I envision developing an enhanced form of consulting where clients rely on our firm to take initiative – to prevent and foresee problems, and not just solve them after they occur; to inform them of opportunities, and not just evaluate those they may have discovered (broad impact). In addition, I would like my consulting experience and business acumen to benefit Favorite Cause X. My management skills and my proactive approach would allow Organization Y, where I have volunteered for the last two years, to make the most of its limited resources and have a far greater impact on Favorite Cause X (broad impact).”

Read more at PoetsAndQuants.com

“Don’t set your goals by what other people deem important.” – Jaachynma N.E. Agu, The Prince and the Pauper

Why more and more young Americans are becoming entrepreneurs

Are Americans becoming more and more entrepreneurial? New research may point to a growing trend.

According to a new survey, out of a pool of 1,000 millennials, 1,000 Gen-Xers, and 1,000 Baby Boomers, millennials were found to be most likely to have some type of small business. By a long shot.

Nearly one in three millennials (30 percent) said they have some type of small business or side hustle, with 19 percent saying it’s actually their main source of income.

One in five Gen-Xers also have some type of small business, but only 11 percent of boomers were able to say they run their own small business.

Millennials were also by far the least likely to say they had no interest in starting a small business, with only 28 percent saying this. For comparison, three in four boomers (74 percent) said the same.

The survey, conducted by OnePoll on behalf of GoDaddy, undoubtedly pointed to one clear fact: young Americans are ready to be their own boss.

Read more at NYPost.com

Young Entrepreneurs are Redefining the American Dream

For young entrepreneurs, the American dream has changed.

There has been a massive shift in values.

Rather than looking for a job with good benefits and the opportunity to become a homeowner - young entrepreneurs are seeking freedom. Freedom of time and location.

This shift in values is shaping what the future of work will look like. It’s almost to the point that if an employer wants to hire and keep high-quality employees, they have to deliver more rewarding, flexible, and innovative opportunities that allow employees to build a lifestyle around their job.

As the new-normal shifts and technology continues to evolve, remote working opportunities and the ability to earn money online are becoming easier to obtain and more prevalent across the world. The vision baby boomers once held near and dear to them is not the dream of any generation proceeding them.

Read more at Entrepreneur.com

What Is A Startup?

Startups are young companies founded to develop a unique product or service, bring it to market and make it irresistible and irreplaceable for customers.

Startups are rooted in innovation, addressing the deficiencies of existing products or creating entirely new categories of goods and services, thereby disrupting entrenched ways of thinking and doing business for entire industries. That’s why many startups are known within their respective industries as “disruptors.”

You may be most familiar with startups in Big Tech—think Facebook, Amazon, Apple, Netflix, Google, collectively known as FAANG stocks—but even companies like WeWork, Peloton and Beyond Meat are considered startups.

Learn more at Forbes.com

The Most Important Factors for Startup Success

Growing a successful startup takes time, talent, and solid business acumen. It is well-known in entrepreneurial circles that approximately one quarter of venture-backed startups will find long-term footing in their respective industries, and 50 per cent of those will make it past their fifth anniversary.

These statistics don’t mean only 25 per cent of all entrepreneurs have worthwhile ideas. While it’s understandable why some people want to tie the future of a startup venture entirely to the idea behind it, the ultimate success or failure of a startup is actually driven by a complex and diverse set of factors, decisions, and circumstances.

Read more at Salesforce.com

What do entrepreneurs do when faced with failure?

No matter how well we plan and how much effort we dedicate to something, we fall sometimes short of our goal with the end-result causing a variety of challenges and problems.

Ultimately, it can adversely affect our financial position, reputation, relationships, team spirit and much more. It can also start to spiral into personal life and affect family, health and overall well-being.

Such situations are often perpetuated by denial by placing one own’s head in the sand. Well, when our head is in the sand, our most vulnerable ass-et is sticking out in plain view.

Some will laugh. Others will point and snicker, definitely telling others. And a few will take advantage of the situation and current position of vulnerability.

Sadly, we put ourselves in that position. Not because we swung and missed. Not because we didn’t see the forest for the trees. And not because we just flat-out saw something that wasn’t there.

Instead, it’s because we didn’t keep our head high, accept the situation, learn from it and move on, and with laser-focus. That is exactly what entrepreneurs do when faced with failure.

Today’s Entrepreneurs

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… a job offer, 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 other 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, they make them count, and in a big way.

They are today’s entrepreneurs.

Acceler8Success Cafe Tuesday 6.8.21

Opinion: A Recession is a Great Time to Start a New Business

It may seem counterintuitive, but downturns and bear markets present an opportunity for entrepreneurs to start a new business.

Why? Because the “uncertainty” that traditional businesses, not to mention financial markets, reputedly hate, isn’t an issue for entrepreneurs. They aren’t worried about trying to assess and meet demand for existing goods and services. They are busy inventing or creating something you never knew you wanted or needed.

The current downturn, often referred to as the Great Lockdown, is likely to produce permanent changes in how and where we do business: home versus office; electronically versus face-to- face. It will open new vistas for technologies that can facilitate contract tracing and monitoring. It will drive the development of more sophisticated data processing equipment — and maybe even a better nasal swab!

The unique nature of this recession seems to have opened a gaping hole that an enterprising entrepreneur could seek to fill.

Read more at MarketWatch.com

“Ideas are easy. Implementation is hard.”  –Guy Kawasaki, Alltop Co-Founder and Entrepreneur

More and More Professionals Are Using Their Career Expertise to Launch Entrepreneurial Ventures

The American education system is set up to teach and train individuals to become experts and key thought leaders in the specific fields that they choose. Given the rising costs of education, rarely can students choose more than one area to specialize in. If and when the day arrives that one wants to start a business of their own, it is quite the challenge to learn the fundamentals of entrepreneurship later and confidently do so.

Additionally, many people have been trained in the sciences or the arts, so finance and accounting seem like foreign languages to them. So how are so many specialized healthcare professionals creating booming privately-owned businesses across the country?

As a formally trained Doctor of Pharmacy (Pharm. D.), I had a unique advantage with an MBA in Entrepreneurship before enrolling in Pharmacy School. This opened my eyes and gave me the knowledge and inspiration to one day be able to start my own business. When most people hear of the Pharmacy profession, generally, they think about their local community Pharmacist at a nearby retail location. However, the skillset attained within school goes beyond the community realm and can be extremely useful in other areas.

My career, post-Pharmacy School, began in industry where I learned more about the business of pharmaceuticals which gave me the knowledge base to co-found our own health and wellness company. My advice to all of the current students that ask is that they should focus on understanding the science and craft of therapeutics, as opposed to the specific job description that they think they may land after school. Once you are an expert in pharmacology, that skill set translates into many areas from community, clinical, industrial, and yes, entrepreneurial.

Read more at Entrepreneur.com

How to Fight Your Fear of Leaving Your Job To Become An Entrepreneur

If you’re reading this, you’ve probably come to realize that the corporate life just isn’t for you.  You’ve been thinking about leaving your job to work for yourself but you can’t seem to leave the security, safety, and familiarity of being an employee.  Trust me, I’ve been there.

Going from a full-time job to a business of your own is a scary transition, therefore, you need to have a solid plan in place. As a potential entrepreneur, you should identify the problems that you could come across and where you could go for help. You should also have the right resources to dig into if you face these challenges in order to avoid failing.  The following are the ultimate ways to fight your fear of leaving your job to become an entrepreneur.

Read more at StartupMindset.com

Your Complete Pros and Cons List to Starting A Business After College

With continued uncertainty in the job market and an economy in the doldrums, starting a business after college is an option that graduates are increasingly considering. In fact, around 60% of recent graduates say they would like to start their own business.

However, with college debt at an all-time high and graduates concerned about lack of experience and networks, the start-up rate for this group is much lower at 23%, according to research.

There is no such thing as a career for life anymore.

60% of graduates are unable to find work in their field and there are over 70 graduates applying for each graduate position in conformity with the statistics from https://www.ezassignmenthelp.com/

However, one way of gaining skills and experience without having to rely on getting a job in an increasingly competitive labor market is to start-up your own business. 

Learn more at TheKickAssEntrepreneur.com

Who Is Guiding The Next Generation Of Entrepreneurs?

As industries advance, so too does the knowledge base and practical instruction that is passed down to the next group of young professionals. In the medical, computer, or engineering fields for example, you can actually see this evolution as technology improves and impacts our lives.  But when we talk about something like entrepreneurship, who is actually leading and guiding the next generation of entrepreneurs? Have the academic institutions kept pace with the rapidly changing realities of running a business in today’s world?

My oldest son is graduating high school this year, and like many parents in America, our family has been hyper-focused on preparing him for college. But as we get closer to that day, and his prospects (and my investment) become real, I wonder if I should be questioning the system more.  My son has been dabbling in business on his own since grade school, and I can see the entrepreneurial fire growing within him. Yes, a business school with a communications, management or economics degree etc would build a great foundation, but if being an entrepreneur is his ultimate path, is four years or more in this conventional system the best way to equip him for the world ahead?

Read more at Forbes.com

19 Best Books for Starting a Business

There will never be a “one size fits all” approach to starting a business. Nevertheless, there are common challenges founders face when navigating the long but rewarding process of business formation. As you embark on your own business journey what better place to look for answers and advice than top business schools?

To help you improve your business acumen, we’ve scoured required reading lists, online newsletters, and alumni-written books, from Wharton, Harvard and others to find what they’re recommending to their students and alumni. While we can’t promise you an MBA, these books might just be the next best thing.

Learn more at LegalZoom.com

A Message from Acceler8Success Founder, Paul Segreto

We know that suicide happens every day but when it’s front and center we become even more aware. It’s been three years since the suicide of Kate Spade and Anthony Bourdain and today I’ve seen multiple reminders of their passing. Both left this world at too early an age. I know they won’t be forgotten anytime soon.

My hope moving forward is for more awareness of suicide before it’s too late. I know when I read about a suicide it makes me recall an employee of mine that took his own life at the age of 25. Today, as I did back then I wonder what did we miss, were there warning signs and certainly, what drove him to do it? It also has me recalling, and this time with a slight smile, how I’ve been fortunate to have helped someone off the ledge, so to speak. Today, he and his family are living life to its fullest.

If you have any thoughts that may lead you to the brink, especially during these challenging times, please reach out to me and let’s chat, meet, whatever, or reach out to someone, anyone – just reach out! There are many more people than you might imagine that are willing to help, to be there for you. We’ve all faced challenges at one time or another – some quite severe. So, please, allow us to help you!Remember, the sun will come out tomorrow… it’s only a day away!

If you or someone you know needs help please visit National Suicide Prevention Lifeline or call 1-800-273-8255 today!

Entrepreneurs Are At Greater Risk Of Mental Disorders: Science Confirms

No successful entrepreneur ever said that building a company was easy. So let’s be honest about how brutal it actually is?

Why did Kate Spade, the founder of the $46.5 million company Kate Spade bags; Mao Kankan, a successful entrepreneur who founded Beijing Times Majoy Technology Co. (valued at $75 billion); and $70 billion company Café Coffee Day’s founder, V.G.Siddhartha, ended up taking their own lives?

If you are an entrepreneur, you probably are living with stress, anxiety, and burnout constantly. A recent study by Michael Freeman stated that 49% of all entrepreneurs at-risk of at least one mental illness. The same study also proved that entrepreneurs are:

  • 2 times more likely to have suicidal thoughts
  • 2 times more likely to be hospitalized for psychiatric ailments

In the words of Michael Freeman –

Who in their right mind would choose to be an entrepreneur? The barriers to success are virtually unlimited and most startups fail as a result.

Entrepreneurs have lower initial earnings, lower earnings growth, lower long-term earnings, greater work stress, and more psychosomatic health problems than employees. Why would anyone voluntarily accept the longer work hours, fewer weekends and holidays, more responsibility, chronic uncertainty, greater personal risk and struggle, and greater investment of emotional and physical resources required to be an entrepreneur instead of the security and long-term rewards of having a career? By conventional standards choosing to be an entrepreneur is an exercise in bad judgment.

Learn more at Feedough.com

Mental Health Tools and Resources for Entrepreneurs

Entrepreneurship can be a lonely road.

Even if you’re surrounded by a large team, founding a company means absorbing a set of risks and responsibilities greater than most can imagine. Employees depend on you. Customers depend on you. And most of all, you depend on you. After all, entrepreneurship is the process of creating your own opportunity.

But opportunity doesn’t come easy. And unfortunately for many entrepreneurs, the difficult journey can cause all sorts of associated struggles…especially when it comes to metal health and wellness.

In fact, according to researcher Michael Freeman, nearly half of all entrepreneurs will develop some sort of mental health issue during their lifetime.  More specifically, Freeman found that compared to the average population, entrepreneurs are:

  • Twice as likely to suffer from depression
  • Six times more likely to suffer from ADHD
  • Three times more likely to suffer from substance abuse
  • Ten times more likely to suffer from bipolar disorder
  • Twice as likely to have a psychiatric hospitalization
  • Twice as likely to have suicidal thoughts

So, what’s an entrepreneur to do? Well, it starts by acknowledging that you’re not alone. That millions of entrepreneurs share similar battles with mental health and wellness…especially when living through times as uncertain as these.

And after you understand and acknowledge you’re not alone, it’s time to be proactive, using tools, goals, and systems to better understand and manage your mental health struggles as an entrepreneur.

Learn more at FutureFounders.com

Solo Entrepreneurs May Find Loneliness in Business Approach

There’s a lot to be excited about for those seeking a small-business adventure. The concept of being your own boss and building something from the ground up are two big examples.

The challenges, naturally, can be daunting, and not just in terms of financial success. Those that take the solo route to starting a business may find that the lack of daily interaction and communication may leave them with a sense of loneliness.

Here’s how Meredith Fineman describes it in a story for Fast Company: “It’s very lonely to stick your neck out there, to take on the world, even if you have a cofounder. You’re in the trenches. You’re trying to do something that has never been done before. So how could anyone else understand?”

Read more at Business2Community.com

Why the First Hours of Your Day Are the Most Important

There’s no question that Benjamin Franklin was a highly productive guy, with a CV that included writer, politician, entrepreneur, scientist, inventor, diplomat, printer and postmaster. In his autobiography, the polymath shared the details of his morning routine, which included waking up around 5 a.m. and asking himself, “What good shall I do this day?” He then set aside a couple of hours to “wash and address Powerful Goodness! Contrive days’ business, and take the resolution of the day; prosecute the present study; and breakfast.”

Later in life, he amended his schedule to include a refreshing “air bath,” which he found preferable to the cold water bath considered healthful at the time

Read more at Entrepreneur.com

30 Habits of Successful People That Can Unleash Your True Potential

Adopting the daily habits of successful people will propel you to triumph in your own life.

Successful people seem to have it all — flourishing careers and thriving friendships, all while staying fit and maintaining a loving home and family life.

How do they do it?

By developing the mental, physical, and emotional practices that enable humans to thrive.

It may seem like successful people are just lucky. While good fortune can give you a boost, success requires focus and dedication towards achieving long-term goals.

The good news is that you can learn the daily habits of successful people and invite achievement into your life, helping you empower yourself to create the life you want.

Learn more at SoulSalt.com

The 7 Habits Of Highly Successful Entrepreneurs

Everyone wants to be a highly successful entrepreneurs. If you want to be one of them, it is easy, just adopt and follow through their habits.

If you look at all the successful businesses and companies out there, they did not achieve the outstanding result in an instant. It is through period of time. Microsoft did not get to where it is today in just a few months time. Nike did not grow exponentially within just a couple of weeks. Starbucks too, takes time to grow into international coffee chain.Rome was not built in a day either.

What this means is that all these great companies take time to grow. These businesses succeed not from just making a single decision or doing just one thing that lead them to where they are today. These leaders have gone through tough times, all the ups and downs, their products and services have been tested over and over again by the market, and because of their habits or how they do things repeatedly, got them where they are today.

Read more at StunningMotivation.com

Acceler8Success Cafe Monday 6.7.21

Entrepreneurship Defined: What It Means to Be an Entrepreneur

The road to entrepreneurship is often a treacherous one filled with unexpected detours, roadblocks and dead ends. There are lots of sleepless nights, plans that don’t work out, funding that doesn’t come through and customers that never materialize. It can be so challenging to launch a business that it may make you wonder why anyone willingly sets out on such a path.

Despite all of these hardships, every year, thousands of entrepreneurs embark on this journey determined to bring their vision to fruition and fill a need they see in society. They open brick-and-mortar businesses, launch tech startups or bring a new product or service into the marketplace.

An entrepreneur identifies a need that no existing businesses addresses and determines a solution for that need. Entrepreneurial activity includes developing and launching new businesses and marketing them, often with the end goal of selling the business to turn a profit.

An entrepreneur who regularly launches new businesses, sells them and then starts new businesses is a serial entrepreneur. Additionally, although the term “entrepreneur” is often associated with startups and small businesses, any founder of a successful household-name business began as an entrepreneur.

Read more at BusinessNewsDaily.com

“Entrepreneurship is living a few years of your life like most people won’t, so you can spend the rest of your life like most people can’t.” – Student of Warren G. Tracy

Three Steps To Achieving Your Entrepreneurial Goals

The day-to-day life of entrepreneurship never looks the same. As a business owner, you solve problems and navigate challenges everyday. In most cases, entrepreneurship can consume your personal life. This is a natural part of the process, especially at the beginning, but every entrepreneur needs to learn how to find a healthy balance.

Whether your business is just getting off the ground, or you are already settled into the life of an entrepreneur, it’s important to set goals for your personal life and plan for your future. When things go awry or go really well, when business gets rough or when it accelerates, a strategic plan for your personal life will help you stay balanced.

Entrepreneur, investor, author and cofounder of Traffic and Funnels Chris Evans is passionate about coaching entrepreneurs on wealth management, and how to balance personal life. He believes that planning is the key to a happy, successful and fulfilled life. He breaks essential life and career planning down into three categories: cultivating an environment, eliminating ambiguity, and committing to growth. 

Learn more at Forbes.com

“The cover-your-butt mentality of the workplace will get you only so far. The follow-your-gut mentality of the entrepreneur has the potential to take you anywhere you want to go or run you right out of business – but it’s a whole lot more fun, don’t you think?” – Bill Rancic, American entrepreneur

4 Reasons Older Entrepreneurs Hold All The Cards

Is it possible for older entrepreneurs to be successful? If so, how can we compete with our younger counterparts and tip the odds of success in our favor?

The first question is easy to answer. While scanning the pages of TechCrunch might make you feel like entrepreneurship is a club for collage drop-outs and genius hackers, the statistics don’t lie. According to Bloomberg Businessweek, the number of entrepreneurs over age 50 has increased steadily in recent decades. They point out that, in 2011, 20.3% of the entrepreneurs were over 50. That’s almost 3X the number of entrepreneurs between the ages of 25 and 34.

That’s all well and good, you may be thinking. But, can older entrepreneurs really compete with their younger counterparts? Even if they have the passion, do they have the ideas? If they have the time, do they have the energy? Yes and yes. In fact, there are several reasons to believe that older entrepreneurs hold most of the cards.

Read more at HuffPost.com

Young entrepreneurs want to start their own business before the age of 30, new research shows

For those thinking about opening their own business, it’s time to take the plunge before you hit the big three-oh, according to new research.

The survey of more than 25,000 respondents (age 18-40) across 35 countries asked respondents what age they thought would be easiest to start a business and identified it to be at 28 years old.

For respondents interested in starting a business, 51% worry they won’t be taken seriously because of their age — but they also see their youth as a positive.

In fact, half of global entrepreneurial hopefuls said their age would help their chances of success.

When asked why, six in 10 (61%) said they’re better at adapting to new technology than other generations, and 43% said they’re more likely to have fresh, unexplored ideas.

Read more at UK.News.Yahoo.com

Get Started on the Right Foot with These 10 Small Business Tips

Since so many small businesses fail in their first few years, a strong start is a must. If you plan on launching a business in 2021, careful planning can make all the difference. Here are tips from members of the online small business community to help you get started on the right foot.

Find the Right Niche for Your Business

Every business needs a specific niche to differentiate it from others in the industry. There are tons of different ways to identify a niche. Read this CorpNet post by Nellie Akalp for tips on finding the right specialty for your business.

Consider a Degree to Help with Your New Business

Education is essential for growing any endeavor. For certain types of businesses, a degree may even help you get started or reach the next level. If you plan to start a new venture this year, it’s worth considering. This post by Geoffrey Tracy on The Franchise King blog discusses the benefits of a degree.

Learn more tips at SmallBizTrends.com

How to Combat the Single Biggest Problem Businesses Face

Executives are problem solvers, but details count when solving the short- and long-term problems their businesses face. A miscalculation or slight deviation in navigation could throw a ship hundreds of milesoff course within just a few days. However, if executives know in advance what small adjustments to make or what details to focus on, many of their problems could be avoided in the long run.

Lots of failed businesses have one thing in common: They settled for the idea that circumstances were out of their control. In fact, many of us have shared that feeling during the last year and a half. A pandemic, a series of lockdowns, political turmoil — we’ve faced so many circumstances that were out of our hands. But it’s how executives address that problem that can make or break their success in the coming months and years.

Read more at Entrepreneur.com

“We think, mistakenly, that success is the result of the amount of time we put in at work, instead of the quality of time we put in.” – Arianna Huffington

Setting your company up for success in 2021

COVID-19 forced businesses to rethink multiple facets of their operations, and in some cases to recast them repeatedly, in response to the disease’s shifting geography, Whac-a-mole switches in rules and regulations, and huge changes in customer behavior and the way we work. Last year, we wrote about several of these trends, and the need for leaders to use design thinking to create the customer and employee experiences that would sustain their company through the pandemic.

Today, as vaccines are rolled out around the world (granted, at various degrees of speed and scale), people can start to imagine finding some stability. For the leaders who have been in response mode, it’s time to stop winging it and make a flight plan.

Read more at Strategy.Business.com

Welcome to The Social Geek Radio Network

Get in touch with your inner geek. Jack Monson and many special guests discuss social media and digital marketing trends for brands, small businesses, and franchises. 

Social Geek Radio was listed as one of 20 Best Business Podcasts according to Emerge and was named to the Best Small Business Podcasts by FitSmallBusiness.com. Recently, Social Geek Radio finally made the Top 25 podcasts in the Marketing category of Apple Podcasts / iTunes.

Listen, download, subscribe to Social Geek Radio!

Get in the Mindset: Achieving Success through a Positive Outlook

A mindset that is fixed, rather than set on growth, can sabotage success. The mind is a really powerful thing. As Henry Ford said, “Whether you think you can or you think you can’t, you’re right.” People with a fixed mindset believe that their abilities, intelligence, and talents determine who they are and they are not able to change their situation. On the other hand, someone with a growth mindset, as the name suggests, believes they can shift and grow and they are not afraid to step into the unknown. They learn and may flounder or fall, but this is what allows them to remain flexible and to grow. Amindset that is fixed, rather than set on growth, can sabotage success.

The mind is a really powerful thing. As Henry Ford said, “Whether you think you can or you think you can’t, you’re right.” People with a fixed mindset believe that their abilities, intelligence, and talents determine who they are and they are not able to change their situation. On the other hand, someone with a growth mindset, as the name suggests, believes they can shift and grow and they are not afraid to step into the unknown. They learn and may flounder or fall, but this is what allows them to remain flexible and to grow. 

Read more at Dermacope.com

The Courage to Be Candid

When you think of workplace courage, your mind might go straight to whistleblowing — calling out unethical behavior, often in the senior ranks of an organization. That’s the example we see again and again in news stories: people who have risked their jobs, entire careers, or even family relationships to report doctored research, for instance, or delays in recalling potentially deadly defective products.1

But whistleblowing is only the most obvious example. Other behaviors that organizational leaders tend to see as “just doing your job” take guts as well. Challenging bosses about strategic moves or operating policies, speaking honestly to peers or subordinates who aren’t pulling their weight, making and owning bold decisions — these, too, are acts of workplace courage.

Read more at SloanReview.MIT.edu

“If you are not willing to risk the usual you will have to settle for the ordinary.” —Jim Rohn

How to Exponentially Improve Your Performance

“Do your best.” We’ve heard that advice since pre-K, but how often do we really perform at our own personal best? Probably not that often if we’re in the groove of work and family life. And if we’ve been in that groove long enough, neuroscience tells us that the bar for our “best” has probably been lowered.

But thanks to the (newly discovered) plasticity of our brains, we can raise that bar higher than ever—and consistently reach it. How? By pushing ourselves physically and mentally.

New science shows us the absolutely groundbreaking, life-changing power of exercise to rebuild, strengthen and fortify our muscles and brains. With sharpened focus, memory, creativity and motivation, who knows what we could do? So let’s start the rewarding work here. The gold stars will be worth it!

Learn more at Success.com

4 Habits That Will Help You and Your Business Bounce Back Into Top Shape

Some call it “Covid pounds.” Others label it the “quarantine 15.” And some refer to it as the “pandemic pounds.”

Regardless of the name, we are emotionally and physically under duress.

According to an American Psychological Association (APA) survey of more than 3,000 people — released a year to the day since the World Health Organization declared Covid-19 a pandemic — 61 percent of American adults reported undesired weight gain or loss since the coronavirus outbreak.

As if that wasn’t problematic enough, according to the APA’s latest “Stress in America” report, more than two in five of the surveyed adults (42 percent) revealed that they gained more weight than they intended over the past 12 months. And that amount was 29 pounds, on average.

Learn more at Entrepreneur.com

Connecting the Right Brands, People & Opportunities!

The uncertainty of COVID-19 pandemic created the perfect time to diversify and expand. After all, it’s been said that necessity is the mother of invention. To that end, Acceler8Success Group was formed mid-2020, building upon Acceler8Success principles and methods that have proven successful since 2014.

Widely recognized as industry leaders & experts, Acceler8Success Group leadership have extensive experience as entrepreneurs in small business & restaurants, as senior-level executives within nationally recognized brands, and as franchisees within successful franchise systems. 

Members of Acceler8Success Group along with Strategic Partners have earned designation as Certified Franchise Executives, Certified Franchise Brokers, Certified Business Brokers and Commercial Real Estate Brokers. Positioned to deliver services within the U.S., Canada and other Global markets, languages spoken include: English, Spanish, Portuguese, French, Italian, German and Russian. 

Learn more at Acceler8Success.com

 “Good things come to people who wait, but better things come to those who go out and get them.” —Anonymous

Acceler8Success Cafe Weekend A/V Edition

Flexibility, control and legacy are common entrepreneurial motivations. Being in the right mindset helps entrepreneurs maintain their entrepreneurial motivation when challenges arise. A positive attitude, meditation and a strong support system help to sustain enthusiasm for not only running their business, but also for exploring possibilities and opportunities while thinking about how to capitalize on the same.

As part of our commitment and dedication to entrepreneurial success at all levels, Acceler8Success Cafe Weekend A/V Edition has been developed to provide current and aspiring entrepreneurs a relaxing way to stay motivated, while also staying informed.

“My biggest motivation? Just to keep challenging myself. I see life almost like one long University education that I never had — every day I’m learning something new.”

-Richard Branson, founder Virgin Group

NOTE: Please pause video before moving from one to another. Thank you!

Acceler8Success Cafe Friday 6.4.21

The Entrepreneur’s Weekend

Not every entrepreneur started out as one. As awesome as it sounds to just “start a business,” the truth is that we live in a real world of practical realities. We have to put up with certain inconveniences like paying rent, feeding ourselves, wearing pants, and otherwise being functioning adults. Usually, that means having a full-time job. And having a full-time job means having to build our independent business on the side.

The good news is this: Even with full-time jobs, most of us have more time than we think.

The weekend is the key to transitioning from side-hustler to full-time independent entrepreneur. Using the weekend isn’t a bonus or a matter of “going the extra mile.” It’s a requirement for anyone who’s serious about breaking the shackles of conventional employment and forging their own path. No exaggeration, here, friends: what you do with your weekend will determine whether or not your business makes it.

Read more at 100MBA.net

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 at Success.com

“Work life balance is about creating a life that flows with you rather than a life you have to power through.”~Jaime Marie Wilson from JaimeBoots.com

Weekend Work: How These Entrepreneurs Balance Business and Family

Former Dragon and venture capitalist Bruce Croxon, now 30 years into business building, isn’t shy about how difficult balancing family, hobbies, and work can still be. “It’s one of the hardest challenges we’re facing,” Croxon said in a recent conversation with YouInc. He eschews the traditional belief of balance being 9 a.m. to 5 p.m. and no weekend work, “when I think about balance for an entrepreneur, I think: give yourself to something for a period of time, make it successful, sell it, and then take time to do something else.” 

We wanted to know what weekend work looked like for entrepreneurs within startup and growth mode, and whether it’s possible to have balance. Three women at the helm of their businesses share their definition of balance, what their weekends look like, and how they manage conflicting priorities…

Learn more at YouInc.com

7 Unique Ways Entrepreneurs Can Decompress Over the Weekend

We live in stressful times and all any of us can do is just relax over the weekend. If you’re tired of spending your weekends watching TV, baking, and reading, perhaps it’s time to change it up a bit. We’ve rounded up some courses and products that can make this weekend a little different, and a little more enjoyable.

Create some music this weekend with help from this bundle. You’ll learn some of today’s most popular music production tools: Ableton Live 10 and Logic Pro X. Why just listen when you can produce your own music?

Drawing can be very therapeutic, even if you don’t know what you’re doing. In this bundle, you’ll learn how to draw from professional artists. Before you know it, you’ll be able to spend the weekend drawing the sights you see from your window.

Learn more at Entrepreneur.com

How to Get Out of a Negative Mindset

When stress builds up over time, it can easily become so large that you can’t really see beyond it. You feel blocked from the enjoyment that comes with experiences that normally lighten your mood. Even when you can name those positives, you don’t feel them. Weighed down by stress, restlessness, lethargy, and negativity, it can feel impossible to find your way back to feeling good. But there are ways to feel better.

When you feel stuck in a negative mindset, you may need to force yourself to do things that can help you pull out of it. Despite how it feels — and despite how the news and our lives are filled with the restrictions and difficulties brought by COVID-19 and politics — life is not all bad. At the risk of being labeled Pollyanna, you can benefit greatly from looking for the bright spots and opportunities to make life better.

Learn more at Blogs.WebMD.com

43 Ways to Improve Yourself in Just 10 Minutes

We use the word busy way too much. We say it when friends ask us how we are doing, as if being busy is an emotion. We use it as an excuse to procrastinate on unpleasant tasks. We use it to sound important at work, because being busy somehow equates to being successful.

But you’re never too busy for 10 minutes, which is all it takes to improve yourself just a little each day. You can de-stress using meditation, yoga or reading. Track your unhealthy spending habits. Learn a new language. The possibilities are endless. Stop prioritizing the busy parts of your life and make time for the important things, such as the constant development of your mental, physical and emotional well-being.

Read more at Success.com

5 Things Healthy People Do Every Day

Healthy lifestyles come in different shapes and sizes. But whether you’re a regular on the Spartan racecourse or a rookie in the gym, there are certain actions you can take each day to lead a healthier, happier life. 

Healthy people don’t wimp out on their workouts. Come hail or heat, they take their commitment to their health and fitness seriously. 

“No matter the time of year, and whether it’s raining or snowing, you still find a way to work out,” says Brooklyn-based personal trainer and SGX coach Morit Summers. “If you’re a runner, you gear up if it’s cold out or you find a gym. You don’t make excuses. You find a way around the barriers to make it happen.”    

The benefits of a good night’s sleep are no secret. But many of us still sidestep a regular eight-hour slumber, and often for nothing more than surfing late-night TV or scrolling through our Facebook feed. 

Healthy folks don’t, though. They know that lack of sleep can lead to bad moods, fuzzy brains, high blood pressure, and a compromised immune system

And if you’re in training, research has also shown that slacking on Z’s can interfere with muscle and central nervous system recovery.

Learn more at ThriveGlobal.com

Calm Your Anxious Mind with One Word

My mind loves worst-case scenarios. And yours might too. Our brains are hard-wired to protect us, which means they are hard-wired to look out for danger and worst-case scenarios. Anxious brains are constantly scanning the environment for people, situations, and things that could be dangerous and jumping to “what if” scenarios. Because of this, anxiety can easily spiral out of control.

After years of living in my anxious brain, I searched far and wide for a solution. People would always tell me to “just relax” or “stop worrying,” but I never found it to be that easy. Finally, while earning my Ph.D. in clinical psychology, I found a way to control my spiraling brain and tense body. And it was easier than I thought. Over time, I learned to quiet my anxieties using one word. 

Read more at PsychologyToday.com

How to Identify Your Entrepreneurial Skills and Redefine Them to Match Your Business?

Do you have what it takes to be a successful entrepreneur? What makes someone a successful entrepreneur, anyway? There is no one defining the characteristic of being an entrepreneur. It certainly helps to have strong expertise in a key area, but there is more to being an entrepreneur than being an expert on a particular subject matter.

No matter how you choose to define being an entrepreneur, getting there requires a lot of hard work and determination. So, let us take a delve into the makings of an entrepreneur. What makes a business person? How do you find out that you are destined to be an entrepreneur?

Though there have been many studies on the subject, researchers have not been able to find out one definitive answer. What they do know is that successful magnates have certain traits in common.

Learn more at OurBusinessLadder.com

12 Leadership Books to Add to Your Reading List

No matter your business, leadership style or level of experience, there is a book that will inspire you, make you think differently and help you stir change where it’s needed.

Members of Young Presidents’ Organization were asked for their top book recommendations and received everything from autobiographies to how-to’s, ancient scriptures to rap-lyric management.

Their responses show there is truly no single path to influential leadership.

Read more at Success.com

5 Ways to Successfully Market Your Small Business on Social Media

As a small business owner, chances are, you turned to social media within the last year to engage with your customers. But with limited time and resources, it can be difficult to know where and how to invest your time strategically on social media.

To help you get ahead of the competition, I’ve listed a few ways for you to successfully market your small business on social media. By applying these lessons, you’ll be able to effectively connect with your customers, build brand awareness and brand loyalty, and most importantly, increase revenue.

Learn more at SmallBizDaily.com

3 Ways for Business Owners to Adapt Post-Crisis

Small businesses across America are revalidating the essential lesson of Charles Darwin and driving the post-crisis economic rebound in the process. 

The term “small business” covers half the American workforce, in tens of millions of companies that made it through the darkest days of the pandemic. It sweeps in more than 4 million owners who chose to start a new venture in 2020 — the largest single-year increase in new business originations in at least a decade, and perhaps ever, according to data from the Peterson Institute for International Economics. Soon to follow are all the entrepreneurs who are watching a post-crisis world take shape and preparing to place that proverbial bet on themselves.

The resilience is unmissable, and the pendulum is swinging in the right direction, behind factors spanning massively available capital, pent-up consumer demand and all the survival-inspired innovations that are now permanent extensions to pre-virus business models.

Read more at Entrepreneur.com

The 10 Principles of Self-Made Billionaires

Billionaires have something most of us don’t.

But that’s only because we haven’t learned it yet.

I’ve spent a significant amount of time with billionaires. I’ve studied them extensively, and here’s what I’ve discovered: Billionaires are billionaires because they all follow a set of unique perspectives, or principles, that help them persevere where others find challenges.

I call these 10 principles “The Billionaires’ Success Framework.”

Learn more at Success.com

Connecting the Right Brands, People & Opportunities!

The uncertainty of COVID-19 pandemic created the perfect time to diversify and expand. After all, it’s been said that necessity is the mother of invention. To that end, Acceler8Success Group was formed mid-2020, building upon Acceler8Success principles and methods that have proven successful since 2014.

Widely recognized as industry leaders & experts, Acceler8Success Group leadership have extensive experience as entrepreneurs in small business & restaurants, as senior-level executives within nationally recognized brands, and as franchisees within successful franchise systems. 

Members of Acceler8Success Group along with Strategic Partners have earned designation as Certified Franchise Executives, Certified Franchise Brokers, Certified Business Brokers and Commercial Real Estate Brokers. Positioned to deliver services within the U.S., Canada and other Global markets, languages spoken include: English, Spanish, Portuguese, French, Italian, German and Russian. 

Request a Complimentary Consultation!

Acceler8Success Cafe Thursday 6.3.21

Emotional Challenges You’ll Face as an Entrepreneur

No doubt, entrepreneurship requires a whole lot of mental energy. With its highs and lows, excitement and fear—which you may feel all at once—there are times when time feels too short and failure seems to be lurking close by.

These feelings might not be fun, but they’re normal. After all, choosing entrepreneurship means you are choosing risk, acknowledging that the chance for failure is alive and well.

So, if you find yourself overwhelmed by the psychological challenges of entrepreneurship, remember that they’re all part of the journey—the destination you wanted and needed to go on. Building something out of nothing is not simple, which is why it’s commendable that you’ve chosen this path. It’ll get better, the challenges growing less intimidating and more controllable, if you just keep going.

Learn more at Success.com

Six Keys to Entrepreneurial Success Post-pandemic

While the world begins to return to some semblance of normalcy in a post-pandemic era, there is no doubt that Covid-19 has forever changed our experiences, especially for the working world and entrepreneurs. But this is a good thing, for a lot of reasons.

One of the best parts of being an entrepreneur is the ability to work for yourself from virtually anywhere. This is a concept that became normalised for many non-entrepreneurs during the pandemic and helped boost the profits for many new and existing entrepreneurs alike.

Every situation is thus a learning experience and entrepreneurs have the opportunity to learn a great deal from it.

Read more at ArabianBusiness.com

Keys You Need to be a Successful Entrepreneur

Have you ever considered running your own business, but doubts assail you and uncertainty stops you? It is not for less because only a small percentage of the new businesses that are created manage to survive: ” 82% of the new companies do not reach four years of life” . This is what the economists Oriol Amat and Pilar Lloret indicate in their book “Advancing, keys to survive and grow”.

Working for yourself has a special appeal because you can be your own boss. However, the path to becoming a successful entrepreneur can be tortuous since not all of us are trained to take charge of their own business, especially those who are used to working for others and who also do not have financial notions basic. Entrepreneurship is not easy, especially if what we want is for the business to last over time and generate wealth for us.

The global economic crisis of recent years has pushed many people to undertake en masse, but am I really ready to undertake?

Read more at Entrepreneur.com

Managing These Three Resources Is The Key To Entrepreneurial Success

Managing money and assets is one of the most critical parts of being a successful business owner. Yes, you need a good idea, an unwavering spirit, and a dedication to your company, but a foundational key to your success is understanding resource management.

Entrepreneurs have many types of resources available to them, only one of which is monetary capital. Let’s break down the top three assets entrepreneurs need to manage—money, time and knowledge—and how to maximize impact.

No matter what level you are at on your journey to success, you could probably stand to learn from someone else’s expertise. Want to see your money and your company go further? Consider investing in a business coach. When you are ready to take the next step in your company, and have a handle on some of the basics (like payroll, insurance, and billing), a business coach should be your next financial investment.

Learn more at Forbes.com

Franchise Businesses Sell At Higher Price Point

When it comes to resale value, franchises beat non-franchise businesses, according to a new study from Palm Beach Atlantic University’s (PBA) Rinker School of Business.

After examining 2,159 business resales over a ten year period, the researchers found that franchise businesses sold at a 1.5 times higher price than non-franchise businesses. In addition, small businesses in the food/restaurant category sold at a .5 times higher price than other personal and professional small business categories.

“Our research supports the value of a franchise branded business,” said Dr. John P. Hayes, director of PBA’s Titus Center for Franchising. “If two people operate the same type of business over a period of years and enjoy similar sales, the franchise business is more likely to sell at a higher price point. Business owners ought to be aware of that information in advance of launching a business.”

The study titled “Determinants Impacting Resale Premium Disparity when Selling a Small Business: A predictive Non-Linear Approach,” will be published in the Fall 2021 issue of the “Journal of Business and Economic Studies.”

Learn more at Franchising.com

Franchisors and Franchisees Must Learn to Deal with Change

If there is one thing that the Pandemic taught us, especially those in the franchise industry, is that certain events both large and small require change. It is a given that the recent Pandemic represents extraordinary change having last occurred 100 years ago. Franchise brands face frequent challenges requiring change including, a formidable new competitor, franchisee resistance to certain promotional programs, declining franchise system growth or a public relations problem like when the Subway Foot Long Sub, was found by a customer to be less than a foot long. When these situations arise, franchisors and franchisees must be equipped to implement change to meet the challenge.

Expect that franchisors will be required to implement changes to their franchise program from time to time some minor and some major. When a franchisor wants to make a change, based upon the magnitude of the change, it should be communicated to the franchisees before the change is implemented providing advance notice.

Read more at Linkedin.com

What You Really Need to Look for When Considering a Franchise

Buying a franchise is a fantastic way to become a business owner. If you’re interested in acquiring one, many people will offer to help. All of them have an interest in your purchase, typically a percentage of the sale. It’s a market like any other. 

But a franchise is a major purchase. Your decision should be based on your or your family’s interests in mind. You need to be able to look past the hype, promises and tactics to find the opportunities that are best for you. That requires knowing what factors really matter when evaluating options. 

Most articles about franchise selection outline the obvious considerations. You want something you find interesting and something affordable. You want to work with an accomplished franchisor who provides good training and ongoing support. You want to read their Franchise Disclosure Document (FDD) to explore all the nooks and crannies of the business. You need to crunch the numbers to get a better estimate of the costs to run the business in your area. 

Read more at Entrepreneur.com

Note: Scott Greenberg’s The Wealthy Franchisee: Game-Changing Steps to Becoming a Thriving Franchise Superstar can be purchased from Amazon and Barnes & Noble.

The Role Timing Plays in Your Decision to Buy a Franchise

Buying a franchise is an investment. Specifically, an investment in your future.

That said, it wouldn’t be unreasonable for you to want to look at investing in a franchise the same way someone who’s involved in the world of finance looks at investing. For example…

Buy low and sell high. It’s pretty simple. The problem is knowing what’s low and what’s high.” – Jim Rodgers, American investor, and financial commentator

Makes sense right? In franchising? Absolutely.

According to YCharts.com, as of April 2021, the S&P 500 two-year return was 41.94%. (The S&P 500 two-year return is the investment return received for a two-year period, excluding dividends, when holding the S&P 500 index.)

For the purpose of this post, if a portion of your money was invested in the U.S. stock market for the last couple of years, you were able to keep your job, and you kept your household expenses in check, you may be positioned right for franchise business ownership.

Read more at FranchiseDirect.com

Why the Hiring Crisis is a Moment of Reckoning for Restaurants

The stories of restaurants struggling to find labor aren’t subsiding. Texas Roadhouse CEO Jerry Morgan said last week, as year-over-year sales skyrocketed 126.7 percent in April, “challenges continue to exist in this environment, the biggest being staffing.”

The steakhouse chain is getting plenty of applicants, “but not everybody is really motivated to get a job,” Morgan said.

There’s been an unusual uptick in no-shows. Turnover is actually lower than historic levels, but employees simply aren’t turning up for interviews.

“And maybe that’s because of the payments that they have,” he said, referencing the $300 weekly unemployment boost extended through the beginning of September in President Joe Biden’s $1.9 trillion American Rescue Plan.

“The money is coming to them a little easy, just my opinion, but that’s where our concern is,” Morgan said.

This is the pulse of today’s labor debate for restaurants, which has surged to the forefront of the industry’s COVID-19 recovery story.

Learn more at QSRmagazine.com

2021 Summer Restaurant Trends

With the summer months rolling in, restaurants being brought to full capacity and tourist season getting into full swing, it is important that your establishment stay ahead of consumer trends to best serve your guests. Aside from the obvious health and safety and delivery trends, there are a few others that, if incorporated, will have guests coming back again and again. Here we take a look at a few of the top restaurant trends for summer 2021.

Tasting menus where guests get to sample various new and popular dishes have become extremely trendy in today’s restaurant scene. These menus create a festive atmosphere and give guests an opportunity to try a variety of flavors. They are a favorite of foodies across the globe and give your chef a chance to show off their skills, creativity, and versatility.

Read more at QuikstoneCapital.com

So, What’s the Deal With Ghost Kitchens?

Luis Mota had no interest in running a ghost kitchen.

When he first opened his Mexican restaurant La Contenta in Manhattan’s Lower East Side in 2015, he was actively against delivery, as “the food suffers too much,” he says. A restaurant, to him, is about “sitting, enjoying, relaxing,” none of which are possible when there’s only takeout and delivery and no dining room.

But then last March the pandemic decimated business at both his restaurants, forcing him to lay off much of his staff and survive on loans from the government. He had been about to open his third restaurant. Instead, he turned that space into a ghost kitchen, creating a short menu of popular items, ponying up for the hefty fees charged by third-party delivery companies, and spending thousands of dollars on takeout containers and paper bags. He’s saved some money in staffing by making the switch, but he’s just barely covering his costs through sales.

Read more at BonAppetit.com

The Future of Ghost Kitchens

Based on current trends, ghost kitchens will be integral to the future of the food industry. The global ghost kitchen market is expected to reach $1 trillion by 2030.

As QSR Magazine explains of the ghost kitchen model, “It’s an ever-more-appealing prospect as the $17 billion U.S. online food delivery market climbs toward a projected $24 billion by 2023, according to data portal Statista.”

Ghost kitchens won’t be going anywhere when Covid-19 social distancing measures ease. Philadelphia-based restaurateur Branden McRill explained this to the Today Show:

“The appeal of this flexibility and the variety of options won’t disappear when the pandemic is behind us, McRill said. Think about how we used to go to the movies, he said, when you had to watch whatever you could get tickets for at the time it was showing, vs the streaming era now, ‘where people want to get exactly what they want at exactly the time they want it,’ he said. People have short attention spans too, he said, and constantly want to try new things. More traditional restaurants will be hard pressed to keep up, he added.”

As they look forward to the future of dining, it seems likely that more and more traditional restaurants will invest in the virtual kitchen model.

Read more at MenuDrive.com