Define Your Business Model Archives

5 Lessons This Entrepreneur Learned Building a Side Hustle

Like many entrepreneurs, I knew I wanted to run my own company from early on. I received an MBA, then spent several years in management consulting, which helped me learn how top executives think, what...

byCameron Smith

November 8, 2023

6 Steps to Choosing a Business: Follow Your Passion, Measure Your Risk

Americans continue starting businesses at a near-record pace, according to the most recent statistics from the U.S. Census Bureau. Projections of business starts in March 2023 outpaced February figures by more than 5%, according to...

byStartupNation

April 25, 2023

Why the Beginning of the Year is the Best Time to Start a Business

The beginning of the year has always been a popular time to start a business. If you’ve been considering forming an LLC or incorporating, but are curious about the benefits of starting up in January,...

byJames Gilmer

January 1, 2023

Want to Become a Digital Nomad-preneur? Avoid These Blunders

The dream of many office dwellers is to shed their winter coats and boots, grab a laptop and flip-flops, and build a riches-producing business while sipping iced lattes on a beach somewhere. As silly as...

byEthan Drower

October 14, 2022

Why a Service-Based Business is a Great Model for Young Entrepreneurs

Millennials and Gen Z are the perfect small business owners. They like to be independent, expect more lifestyle freedom than their parents, and have the digital chops to manage a business online. Forty percent of...

byDayana Mayfield

September 26, 2022

Non-Seasonal Startups: Year-Round Lucrative Industries for Entrepreneurs

For entrepreneurs looking to start a company, the industry and business you choose can be the difference between walking away with nothing or reaching the pinnacle of success. Only 30 percent of small businesses make...

byMeredith Wood

September 15, 2022

Turn Your Passion into a Business: 3 Steps for Purpose-Driven Startups

Purpose-driven companies are all around us, replacing profit with a greater good. Tesla setting a standard for clean energy in transportation, Pela making common goods compostable or Love Your Melon using hat sales to fight...

byTricia Martin-Owen

September 12, 2022

Want a Proven Business Model? Try Coffee Shop Franchising

The beauty of franchising is that you're buying into a proven business model, Jeff says on this segment of "The Pre W. Smith Show," and coffee shops are a great way to go. Listen to...

byJeff Sloan

September 8, 2022

Need Extra Cash? Pursue a Side Hustle

On this segment of "The Pre W. Smith Show," Jeff Sloan shares ideas on side hustles you can pursue during inflationary times, or any time you need some extra cash. Tune in for the full...

byJeff Sloan

August 29, 2022

From Wall Street to Building a Restaurant Empire: 3 Tips for Mega-Entrepreneurship

As we embark on our professional careers, we all envision and strive for success within our respective industries. But for many, we may not hit that pinnacle stride until transitioning to a different industry or...

byKal Gullapalli

August 29, 2022

11 Mistakes to Avoid When Setting Up a Side Hustle

"This summer I've been making an extra $1,000 a month, and it only takes a few hours a week," said Mark Russo in a recent TikTok video. "I only had to invest a few hundred...

byAshley Murphy

August 25, 2022

What It Takes to Make it as a Micro-Business

Micro-businesses are having a moment. They've grown considerably in the last several years, initially prompted by pandemic regulations and the Great Resignation, which led Americans to create 2.8 million more online micro-businesses in 2020 than...

byBev Campbell

August 22, 2022

How Your New E-Commerce Brand Can Drive Exponential Growth

As retailers worldwide make the shift to e-commerce, how can your business follow suit? Total e-commerce revenue is expected to reach $4.2T in 2020, a pie that startup companies are sure to want a piece...

byRohan Thambrahalli

July 27, 2022

The Stealth Mode Startup: What We Learned, What We’d Change and Why We Succeeded, Part 2

At Lumos, we raised $30 million in funding in 18 months. No one knew until they knew–and they all found out on launch day. The best part? Our launch was successful. In Part 1, we...

byAndrej Safundzic

July 27, 2022

From Stealth Mode to Success: Launching an Under-the-Radar Startup, Part 1

At Lumos, we raised $30 million in funding over a period of 18 months. And we didn’t say a word. In Part 1 of this two-part series, we’ll talk about why we didn’t rush to...

byAndrej Safundzic

July 26, 2022

Why the Future of Entrepreneurship Is Content Creation

The days when entrepreneurship was inextricably linked to a product or service are long gone. Instead, content creation has become a new central part of entrepreneurship. Most easily seen through influencers who post content to...

byLucas Miller

July 18, 2022

Starting a Business with a Partner? Here’s What You Need to Know

Opportunities to start a business can happen at any time, even during a pandemic. Amid COVID-19, many individuals spent their time in quarantine practicing a side hobby or developing a new offering that meets the...

byDeborah Sweeney

July 13, 2022

Hiring Needs Today: What Every Entrepreneur Needs to Know

Amidst the uncertainty of recent years, one thing is for sure: There has been a significant boom in startups. In July 2020, the U.S. hit a milestone - 551,657 applications to start a business, a...

bySunny Saurabh

June 27, 2022

Be Proactive, Do the Legwork for Food Truck Business Success

Even with soaring inflation, people always need to eat, and most workers need a convenient place to grab lunch. That’s why the food truck business has become so attractive to entrepreneurs. They’re a convenient way...

byJoe Camberato

June 24, 2022

3 Tips for Building a Successful Subscription-Based Business

The way consumers buy goods and services is changing. Have a look at your bank statement over the last several months, and I’ll bet there are more than a few recurring charges for Netflix, Amazon...

byMiguel Fernandez

June 18, 2022