If you are starting a business, there are TONS of things you need to think about—everything from getting your business license to setting up a bank account to creating a website. But one area people often neglect relates to Intellectual Property (or IP for short). IP is broadly defined as being any “creations of the mind,” or the set of legal rights individuals or entities attain through intellect in the development of concepts, inventions, and creations. These may be ingenious new inventions, a unique logo, or a creative design.
Engineering your client list—that is, choosing to work with those customers who epitomize your ideal customer persona, while pruning those who are not a good investment of your energy and resources—is a savvy business strategy.
Have you ever wondered if there is a secret to succeeding in any business venture? There are a number of tried-and-true methods that lead to success. Among these are having the right skills, personality, and drive. You may have heard that it is important to build rapport and strong relationships. This may be common knowledge but it is often overlooked, especially at the beginning stages of a business.
Family Tree Services is a family owned and operated arborist service company out of Calgary, Alberta. Brothers James Brittain and Andrew Laird have been in business for five years working in an industry that they are truly passionate about. Family Tree Services offers all aspects of caring for, maintaining, and removing trees in and around the Calgary area.
What is one of the most important factors contributing towards business success? This often hinges on effective site selection. When searching for commercial space to lease, entrepreneurs need to carefully consider site location, location within the location, visibility, access, parking, signage, further expansion plans, neighbouring tenants, anchor tenants, and so on. In addition, entrepreneurs must also evaluate the unit’s size and understand that the total amount of square footage will determine the monthly rent. With a larger area, tenants will pay an increased rent.
Being an entrepreneur sometimes means wearing several hats, often including those of billing and accounts receivable (A/R). The occupational hazard of being pulled in several directions can make controlling your outstanding invoices a challenge. Not only that, but companies can become so focused on getting new business that collecting overdue receivables is easy to put off.
The subject of entrepreneurship now occupies a prominent place in our world's economy and is associated with the concept of innovation. The world is eager for innovative and bold people who are capable of taking entrepreneurial initiatives.
The Hispanic nature is predisposed to innovation because it is a fresh, happy, informal culture. People who identify with this culture tend to fit within the six keys of entrepreneurship: focus, energy, commitment, mental elasticity, teamwork, and results.
With both a CPA and MBA, Lorna Mutegyeki has a background in finance and has always worked for large organizations and been responsible for huge budgets. Starting her own business, Msichana, had its challenges, but this business was always her big plan for life. She dreamed of equipping and empowering women through the work she did, and wasn’t getting that satisfaction from the corporate world.
At Business Link, we get a lot of questions about money. Quite often those questions are about how to get money to buy essential equipment needed to start a business. There are currently no grants for this type of activity, but there might be some paths you can take.
A few months ago, we brought you the scoop about what market research is, and how you can use secondary data in your business. Now that you’ve mined the internet for everything it's worth, it is time to consider engaging in some primary market research as well.