Top 5 Entrepreneur Posts - July 2010
ShareThisLet's be clear. There are no federal grants as such for small businesses. However, that doesn't mean that you can't access government funds. Check out your eligibility for:
- Federal grants for particular industries and activities--there are 26 agencies offering these
- A small business loan from the U.S. Small Business Administration
- A small business grant from your state's economic development agency
And don't forget: if your state isn't generous to start-up entrepreneurs, you could always relocate your business to one that is.
Online Entrepreneur Degree Programs
As an entrepreneur, having the skills and knowledge to exploit your big idea fully is as important as having the cash to keep your enterprise optimized. But the last thing you probably want to do when you're starting your own business is undertake a full-time degree course. So it's just as well that there are seemingly limitless opportunities to follow entrepreneur courses online at your own pace.
Online entrepreneur degree programs can be studied at all levels--from associate's degrees, through bachelor's and master's, right up to doctoral--and many people choose one that is designed especially for the sector in which their business operates. Indeed, 22 percent of all MBA courses currently are specialist ones.
One of the good things about online entrepreneur courses is that you can retain flexibility when you start out studying. Begin by acquiring credits in core subject areas, and then decide on the direction your studies should take as the needs of your business emerge.
Starting Your Own Business: Advice and Guidance Sources
The main problem with online business classes is that they take a long time to complete. And you're likely to need some knowledge and skills right away. That's when you need to mine the rich vein of online tips and advice that's available for entrepreneurs online.
Almost certainly, your most important source (after the one you're currently reading!) for guidance is the U.S. Small Business Administration. Its Web site is clear, authoritative, and comprehensive. And it isn't trying to sell you anything. The home page has four headings:
- Small business planner (from how to write a business plan to developing an exit strategy)
- Services (from contracting opportunities to disaster assistance)
- Tools (from AV resources to a monthly web chat)
- Local resources (from your nearest Small Business Development Center--where you can have a free consultation--to local export assistance offices)
The Interface of Money and Skills
Many find, on becoming an entrepreneur, that one of their biggest headaches is balancing cost management with the need to hire people with the necessary skills. Few start-ups have the resources to employ the experienced people who could carry out all the business processes the organization requires. Instead, the boss (that's you) often ends up being not only the CEO, but also the CFO, CIO, and vice president of sales, marketing, operations, purchasing, and wastebasket emptying.
Clearly, few people have the skills to master all those areas of responsibility, so some talent has to be brought in, either as employees or contractors, or in the form of an outsourcing supplier. The areas you choose to delegate or outsource will largely depend on your budgets, other commitments, and personal skill set.
However, many find that they need specialist help when it comes to taxation issues. Buying this expertise can sometimes actually make you money, because a good accountant should know how to maximize your deductions. However--and more importantly--it can also save you a stretch in a federal penitentiary.
