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Starting a business comes with highs and lows. On the one hand, an entrepreneur may feel endless optimism as they launch a new concept and see how the market responds. But conversely, fears over being scooped by the competition — especially bigger brands — can make even the most confident individuals second guess their decisions. And in particular, steep competition from established businesses is a major caveat that an entrepreneur needs to consider when launching a new concept. This is because a competitor with a more established firm often has access to resources, a deep network and name recognition by consumers. This means that even if an upstart business is first to market with an idea, it can still be overtaken by the competition and lose its edge. This is where choosing to be a stealth startup can be a calculated and smart decision. What Are Stealth Startups? Stealth startups are exactly as the name implies — startups that maintain a low profile and enter into the market with...
Dec 8, 2023
Katossa Glover is a certified boss, owning two businesses in a North Carolina mall.
Dec 7, 2023
Launching a startup is no easy task. From coming up with an idea that can actually gain traction to creating a solid positioning statement, there are plenty of caveats that can cause even the most well-intentioned startups to fail — or at least stumble along the way. This is why getting assistance earlier on to help focus targets and strategies is critical. Enter the incubator concept . While the term is often used interchangeably with accelerators, it is not exactly the same thing. Although the end goal is to help fledgling startups gain their footing, launch and successfully enter the market, the way incubators go about it is different. Read on to find out more about the general purpose of business incubators and what is needed before applying to one. What Is A Business Incubator? Ignore the marketing speak and jargon because the concept is very straightforward. Breaking down what a startup business incubator is requires nothing more than considering what the actual piece of...
Having a successful business is not just about creating the next big idea or must-have product; it is also about the people that one employs. A toxic work culture can be fatal for a business’s bottom line, yet a quick search through GlassDoor proves that there are plenty of companies being run into the ground thanks to mismanagement and poor leadership. While poor attitudes and shifty management are top reasons for employees leaving a company, not all businesses know how to pivot and correct toxic workplaces — much to the detriment of employee retention. A famous saying coined by Peter Drucker is that “culture eats strategy for breakfast.” What does this mean, how does it influence a business’s success, and what can firms do to improve a suffering culture within a company? Culture Eats Strategy For Breakfast While it may sound like a trendy bit of jargon, Peter Drucker’s statement gets to the core of what drives businesses — its people. Unsurprisingly, happy people put in 110...
Founder Tavia Green is extending her solution for natural hair to reach all women.
Dec 6, 2023
Criminal defense attorney Calandra Revering will be fulfilling her dream as she prepares to welcome customers to her cannabis shop in Brooklyn Park, MN.
Dec 5, 2023
Billy Porter is opening up about the recent actor’s strike and its effect on himself and fellow artists.
Dec 4, 2023
Sherry Waters will be bringing her tea lounge to a new location in West Charlotte, NC.
One of the most highly anticipated films of 2023 is getting ready to hit the big screen.
Dec 4, 2023
Brian Roberts is taking the concept of “Buying Black” to new heights.
Having sources of representation at an early age is crucial. In 2020, Brooke Hart Jones recognized that there was a need for children to learn about Historically Black Colleges and Universities (HBCUs) and to be able to see into their potential futures at the institutions.
Clinton, MD, is the home of a new comprehensive care practice.
It’s Beyoncé’s world, and we’re just living in it!
Dec 1, 2023
Every entrepreneur thinks that they have the next big idea and that if only consumers or businesses were exposed to it, it would become a rockstar business overnight. In truth, this is not always the case. Often, there is a massive disconnect between those creating brands and what the target audience is demanding. To fix that problem, businesses need to craft a stellar product or create a service that resonates with their audiences . It is important to have a product or service that provides real value, but equally important is learning how to articulate those benefits to potential customers. Without proper branding, even the most exciting product can sit on a shelf or go overlooked as the competition continues to maintain its hold on the market. Learning how to create a positioning statement that helps a brand or product stand out from the competition, and also connect with audiences can make the difference between success and delayed opportunities for many businesses. Positioning...
Entrepreneurship is often romanticized, but it is no easy journey. Beyond simply creating an idea that seems unique enough to launch, it is not cheap to be your own boss. Starting a business has several fixed costs that can quickly add up, such as legally forming a company, paying for legal protections like patents or trademarks, and, of course, marketing and promoting your business. This is where bringing in outside investors can be a smart move. Investors not only represent a cash infusion , but if founders are wise, these people can also help market, promote, and grow a business. However, finding people who are not only willing to invest in a young company but also have enough resources to support a fledgling firm can be difficult. So, where is a startup to start with finding investors? Create A Business Plan Serious investors are not interested in blindly investing in a business — even if they are relatives and friends (who are usually the initial seed investors for any...