While there’s something to be said for bootstrapping a business, leveraging debt to launch or scale can be a game changer if handled properly. The key to success here is twofold. First, you need to be responsible with debt because it can quickly spiral out of control—especially in a soft economy, so how you use … Read more
Something every entrepreneur has to deal with at some point in their careers are crises that they most likely didn’t cause, and unfortunately, it’s often a more frequent occurrence than most people who aren’t in your position would expect. While a business needs to be run based on its budget, we don’t operate in a … Read more
While I love the opportunities that entrepreneurship provides, the reality is it’s an incredibly challenging environment. The long hours, stress, politics, uncertainty, and risk, can quickly overwhelm even the most resilient operators—especially early in your career. That’s why it’s so important to understand how to build the right mindset to overcome the challenges you’ll face … Read more
As someone who grew up in a communist country, I never thought I’d be living in America, as a successful entrepreneur, boldly creating the life I have today, but here I am. That didn’t happen overnight. I faced immense challenges and evolved numerous times along the way, starting as an academic, then transitioning into software … Read more
Running a business is one of the hardest things you’ll ever do. It may not be as tough as going to the front lines in combat or rushing into a burning building to save a family, but it’s pretty damn close to the top of the list. That’s because as an entrepreneur, everything depends on … Read more
Business credit, when leveraged properly, can be an absolute game changer for entrepreneurs because it gives you the opportunity to scale your business in ways you never could by simply bootstrapping. This enables you to invest in the necessary inventory, equipment, and acquisitions that help you to make bigger moves and gobble up market share. … Read more
I became an entrepreneur at a relatively young age after my mother immigrated here in pursuit of the American Dream, and then I went on to build a multimillion dollar business from that idea. As much as I’d love to say that everything went as smoothly as that first sentence might indicate, nothing could be … Read more
I’ve learned a lot throughout my entrepreneurial journey, and as much as I hate to say this, a lot of that was unlearning things I once believed that were actually not true. A big part of that is because as entrepreneurs, we need to have an almost insane level of confidence in ourselves and our … Read more
A lot of businesses today are struggling to generate consistent revenue because inflation has eroded the value of the dollar, making everything considerably more expensive than in previous years. Couple that with a rapidly declining consumer confidence, rising advertising costs, and a noisier world than ever, and it becomes obvious that we’re facing a proverbial … Read more
When the economy begins to contract like we’re seeing today, most entrepreneurs look for opportunities to cut costs. Often, these cuts are both broad and deep, which forces them to scale back on operations, which means less revenue. Under already unstable economic conditions, this can be a recipe for disaster. Scaling back means, at best, … Read more
