America’s SBDC Blog

A “Forbes 100 Best Websites for Entrepreneurs”

Half of Millennials Want to Start a Business: Here’s How to Get Going

June 26, 2017
By Kali Geldis
NAV

Millennial businessIf you were born between 1977 and 1995, there’s over a 50% chance that you would start your own small business if you knew where to get help to make it happen.

America’s SBDC, the face of a nationwide network of Small Business Development Centers (SBDCs), collaborated with the Center for Generational Kinetics to better understand how different generations view entrepreneurship. The findings indicated that millennials were especially eager to start businesses of their own, but there were some things standing in their way.

Millennials stated that they’d like help writing a business plan, and they rate money high on the list of things holding them back from starting a business. In fact, 45% of the study respondents said that finding capital to start a business was their biggest barrier. That’s not a huge shocker — there are more than 44 different types of business financing out there, and they come with unique interest and fee structures.

Here are five tips that can help any millennial, no matter their entrepreneurial dream, get started.  (more…)

A 14-Step Checklist to Make Your Business Legit

May 25, 2017
By Gerri Detweiler
Nav

Grand OpeningPerhaps you’ve got a hot idea for a new business and decided it’s time to turn a dream into reality. Or you’ve given up on finding your dream job and decided to create your own. No matter what your motivation for launching your own business, the journey ahead is no doubt both exciting and scary. Where do you start?

The first thing you’ll want to do is lay a solid foundation for your venture. Here’s a step-by-step list to get you started.

1. Choose a business name. Think this one through carefully. Not only do you want to make sure it will be unique and memorable, you’ll also want to make sure it is legally available. Just because there are other businesses with similar names doesn’t mean you can’t use it, but be careful. If your business name is similar to another business — particularly one in your geographic area — your business credit profiles could get mixed up with one another. While you are at it, check domain names, social media accounts (Facebook, Twitter, Instagram, etc.). Do a Google search. Before you make your final decision, consider a trademark search to avoid any legal challenges down the line. If your business name is too similar to another, you may not be able to register that name when you create a legal entity. (See step 4.)  (more…)

Preparing to Buy a Business: Part 2 of 2

January 13, 2016

In our previous installment, we touched on the benefits of buying an existing business, determining client readiness to buy, and organization. With such a small percentage of business searchers completing the purchase, it’s important to get clear on criteria and what is going to be the best fit for your client’s lifestyle and abilities.

Choosing the Right Type of Business

Many times, buyers will spend too much time looking for what they think is the “perfect” business, and end the search prematurely after realizing it doesn’t exist. Helping your client establish the right type of business to target will not only get them closer to a purchase, but it will open up options that fit within their ideal without having to hit every checkbox. (more…)

Preparing to Buy a Business: Part 1 of 2

January 6, 2016

Business ownership is a multi-part path of challenges and seeking the right support at appropriate times. But what about the complexity of the business buying process? Knowing if your clients are prepared to take on the task of running a business is one part of the equation, but there are many nuances of the business acquisition process that, if adequately prepared for, may help your clients set realistic expectations for what’s ahead.

These steps will detail questions to ask, and client characteristics to be aware of, as you help facilitate the preparation to buy a business.

Why Buy an Existing Business?

Buying an established business is a paved path to entrepreneurship, which provides a track record and a set of operations to follow or improve. With so many for sale in the market at any given time, finding one that meets the buyer’s professional goals should be within reach.

Namely, buying a business versus starting one will allow for further refinement and evolution of the operation. Here is a quick recap to show the benefits and characteristics that accompany the purchase of an existing business.  (more…)

Palo Alto Hires Entrepreneur and #SBDC Client Josh Fegles

August 5, 2015
Palo-Alto-Hires-Josh-FeglesEntrepreneur and SBDC Client Josh Fegles is hired as Academic & Government Channel Sales Director to increase market share of SaaS app LivePlan in the government and academic channels

The world’s leader in business planning, strategic forecasting for small business, and small business management software, Palo Alto Software, has announced the hire of entrepreneur Josh Fegles to lead the company’s government and academic relationships.

Fegles will be sharing LivePlan, a great critical thinking tool, with global academic and government organizations to help them increase their relevance among their small business clients and students. LivePlan helps students learn about how to start a business, and helps small business owners plan and manage their business better. Josh will bring LivePlan to SBDCs (Small Business Development Centers), SCORE offices, Women’s Business Centers, Veteran’s Business Outreach Centers, Chambers of Commerce, economic development organizations, accelerator and incubator programs, and academic institutions (high schools and higher education, including online universities).

“Josh is the perfect person to lead our relationships with SBDCs, SCORE offices and colleges and universities for many reasons. Most importantly, he’s been a long time client of the SBDC in Portland, Oregon,” stated Palo Alto Software CEO, Sabrina Parsons. (more…)