Category: Start a Home Business

He Came Up With a $2 Billion Business Idea While Making $7 Per Hour

When Vlad Magdalin accidentally stumbled upon the fact that his design agency was charging six figures for his $7-per-hour work, he knew something needed to change. September 22, 2021 1 min read Opinions expressed by Entrepreneur contributors are their own. This week James McKinney interviews Webflow Co-Founder Vlad Magdalin. Webflow is a website-building platform that enables designers to develop online engagements without a background in programming. Magdalin and his brother, another Webflow co-founder, were Soviet Union r

Read More

How This Entrepreneur Uses AI to Automate Lease-Accounting Workflows

The co-founder and CEO of Trullion explains what lease accounting is and how the software-as-a-service platform is helping auditors, CFOs and accountants. September 21, 2021 6 min read Opinions expressed by Entrepreneur contributors are their own. Before starting his company, Trullion, Isaac Heller worked with several high-growth, pre-IPO technology companies and with real estate technology. Having spent countless hours with contracts, PDFs, spreadsheets and working with auditors and checking numbers, he was inspired to create an AI-powered software-as-a-service (SaaS) platform that automates lease-accounting workflows for auditors, Chief Financial Officers (CFOs) and accountants. Heller sat down with Jessica Abo to discuss lease accounting and the future of this industry.Jessica Abo: Before we start talking about your company, how do you define lease accounting?Isaac Heller: Accounting is looking at the different factors of value. So for example, someone can walk into a store and spend thousands of dollars, and it looks like they have a lot…

Read More

Cactus Is the New Coconut, and These Founders Are Going All In: ‘We Decided to Drop Our Lab Coats, Put on Our Cactus Suits and Chase the American Dream’

Opinions expressed by Entrepreneur contributors are their own. You’re reading Entrepreneur United States, an international franchise of Entrepreneur Media. About 15 years ago, coconut water hit the U.S. market and exploded in popularity with its purported health benefits. Though the craze has slowed somewhat in recent years, the drink still takes up its fair share of space on shelves nationwide. But many who’ve given the beverage a chance share a less-than-glowing take: It doesn’t really taste good. Would most people drink coconut water if it weren’t a lower-calorie, less sugary alternative to sports drinks and sodas? Probably not.  Courtesy of Pricklee Five Boston

Read More

To Be Incredibly Productive, Do One Meaningful Task Each Day

Opinions expressed by Entrepreneur contributors are their own. You’re reading Entrepreneur United States, an international franchise of Entrepreneur Media. Here’s an obvious statement: Simply being at your desk for eight hours isn’t the same thing as getting work done. But surely there’s some logic to why the 9-to-5 grind is the gold standard, right?Not really. It turns out that the eight-hour workday is simply a holdover from an 18th century reform aimed at reducing factory workers’ grueling 10-16 hour workdays to something a tad more humane. Once that became the accepted standard (about 100 years after the concept was introduced), we went with it and haven’t changed it since. Fast forward to today: Now, we know that the average worker is only productive for just two hours and 53 minutes a day. But really, how much we accomplish isn’t about time at all. Productivity guru Tiago Forte, for one, holds that completing…

Read More

Think You Need Venture Capital Backing to Start Your Business? Think Again.

Opinions expressed by Entrepreneur contributors are their own. You’re reading Entrepreneur United States, an international franchise of Entrepreneur Media. 2021 has been a banner year for venture funding with an all-time high of over $288 billion invested within the first half of the year globally. These investments have yielded flashy headlines for brands and an assumption by the general public that these businesses are positioned to win. But there’s an alternative approach equally deserving of the flashy headlines — bootstrapping. In the Twittersphere and beyond, bootstrappers are speaking up, fighting for their stories to be heard.Some founders go the bootstrapping route because they want to maintain equity and control. Others don’t know the first thing about fundraising or have been rejected by VCs one too many times. Whatever their reason for wanting to build their businesses without investor money, these founders wear bootstrapping as a badge of honor and are fired up…

Read More

Why Seeking Out Investors Could Sabotage Your Business

Opinions expressed by Entrepreneur contributors are their own. You’re reading Entrepreneur United States, an international franchise of Entrepreneur Media. One too many episodes of Shark Tank can leave us feeling superhuman when it comes to building a business. You come up with an idea, make a few sales, go after a bunch of people that have money to burn, and the rest will just work itself out… right?Not exactly. As Jonathan Siegel notes in the book The San Francisco Fallacy: The Ten Fallacies That Make Founders Fail, many founders and entrepreneurs actually lean too heavily on investor funding to bring their ideas to life. As a result, they don’t learn the valuable lessons that come with working on and perfecting a product. Burning someone else’s cash day in and day out can turn your business into a ticking time bomb.As the founder of Next Vacay, a software company in the…

Read More

How to Create a Lasting Trend in the Food Industry

Opinions expressed by Entrepreneur contributors are their own. You’re reading Entrepreneur United States, an international franchise of Entrepreneur Media. When I first launched Bobo’s in the early 2000s, healthy food ingredients were rarely talked about. Following some research around lifestyle and consumer topics, it became my objective to ensure the creation of a timeless product rather than something that would soon fade based upon trends. That proved to be the right decision.Here are a few tips for creating a brand that can stand the test of time.Identify a lasting trend In order to last in the foods industry, your product must taste delicious. Everyone needs to eat, after all. However, in this day and age, there is a precarious balance between taste, function, purpose and quality. Each can be an important pillar for the product you are creating, but the taste is the key to standing the test of time. Some of the products out there…

Read More

Ask a Startup Lawyer: Understanding Your BATNA (Best Alternative to a Negotiated Agreement)

Opinions expressed by Entrepreneur contributors are their own. You’re reading Entrepreneur United States, an international franchise of Entrepreneur Media. So, you’re ready to negotiate with your VC, and you know this will be a zero-sum game. Every decision is a shift of risk, reward or control. You’ll need to be prepared to compromise on some things, but how do you decide what and when to give or hold firm? You should start by consulting with the experienced advisors in your corner, such as a quality founder-focused startup attorney, but that is only the first step. Enter the BATNA. What is a BATNA and why is it important?The term BATNA refers to your “Best Alternative to a Negotiated Agreement.” As an example, say you’re negotiating with MoneyCo Funding Group. If negotiations break down, you must have a plan in place in the event that you or MoneyCo walk away.Your negotiating position is fundamentally dependent on…

Read More

Is the Rise of the ‘Fempreneur’ Hurting Women in the Workplace?

Opinions expressed by Entrepreneur contributors are their own. You’re reading Entrepreneur United States, an international franchise of Entrepreneur Media. Self-defined “fempreneurs” are female business owners who occupy an increasing share of businesses ranging from startups to global brands. This gender-first personal branding is prevalent, but in the larger scheme of equality in the workplace, is it helping or hurting?The natural assumption would be that “fempreneurship” aims to create a world in which women have permission to be feminine at work. This delineation is sometimes synonymized with “lipstick entrepreneurs” or “mompreneuers.” It would make sense if the movement and messaging centered around a culture in which traditionally masculine traits — like forthrightness, aggression and initiative — are counterbalanced by traditionally feminine traits like nurture or kindness. However, that appears to not be the case. Rather, “fempreneurs” are bold, intense and vying for a seat where decisions are made. These women appear to be passionate…

Read More

How Boxing Has Helped Me Be a Better CRO

Opinions expressed by Entrepreneur contributors are their own. You’re reading Entrepreneur United States, an international franchise of Entrepreneur Media. Life comes with numerous variables, decisions and outcomes. Business even more so. In my role as chief revenue officer (CRO), my ultimate goal is to help my company win every round and every match, over and over again. Many could assume that winning against the competition in the first round means that you’ve won. But my former background as a competitive boxer has taught me that you need to play the long game to ultimately come out on top.The CRO role is relatively new in Silicon Valley. Previously coined as the chief sales officer a couple decades ago, the position used to focus on closing large-score sales, and the role reigned during the enterprise sales heydays. CSOs oftentimes fit the stereotypical definition of a sales leader, delivering rousing rallying cries to hype up…

Read More

Struggling to Come Up With an Idea That Will Outshine Your Competition’s? Use These 5 Simple Strategies.

Opinions expressed by Entrepreneur contributors are their own. You’re reading Entrepreneur United States, an international franchise of Entrepreneur Media. How many times have you thought, “This is a great idea!” only to find that a dozen other people have had the same idea? With a seemingly endless stream of new products, services and solutions entering the market, it might feel impossible to make your dream a reality.The truth is that nearly all startups will fail, not because they had the same idea as another brand but because they can’t prove that they matter more than the competition. Standing out is the name of the game. In a market where everything has already been invented, you need practical strategies to help you succeed where others have failed.Related: The Most Important First Step When Starting a Business1. Find the overlap between your passion and market demandIf you’re not excited about your product, then you can’t…

Read More

Freshly’s Founder Ditched Wall Street to Start a Restaurant in Arizona With His Parents. It Failed, But He Pivoted to Build a $1.5 Billion Business.

Opinions expressed by Entrepreneur contributors are their own. This article was updated on September 15, 2021 You’re reading Entrepreneur United States, an international franchise of Entrepreneur Media. In Arizona, it’s legal for children to work at a young age if their family owns the business — a law that stems back to old farming — so Michael Wystrach and his twin brother started working at their parents’ restaurant when they were 10 years old. At first, it was because they begged to get in on the action. “And,” Wystrach says, “it quickly went from begging to being told that we were working from that point on.” He started as a busboy, then worked “every

Read More
Loading