Thinking of staying indoors and escaping the sizzling summer heat? We’ve got the perfect way for you to maximize your time — a collection of four uplifting movies that will teach you valuable life lessons and help you to become a better entrepreneur. So sit back, relax, and enjoy the shows — the inspiration you’ll get from these masterpieces could lead you to your next big business breakout! Jerry McGuire (1996)
applies to posts containing video content
Want to learn how to define your business structure, use social media for your business or sharpen your Excel skills, but don’t have time to take a course? No problem! With the growth of online videos, it seems there are online video tutorials for almost any topic. And that includes business research!
Building a business in any industry is a challenging task, but getting a startup off the ground in the biotech and life sciences world can be especially taxing. From R&D to the regulatory approval process to the need for constant innovation, these fields demand a lot from the entrepreneurs working within them. Since September 26 to October 3 is National Biotechnology Week in Canada, we’ve decided to compile some tips to help you get your foot in the door as a biotech or life sciences startup.
Love the idea of being your own boss, but concerned about losing your regular employment benefits? While some benefits might be lost in the transition to self-employment, thanks to changes made as part of the new 'Fairness for the Self-Employed Act', certain EI benefits previously unavailable to the self-employed will now be made available.
There’s no getting around the fact that entrepreneurship is hard work. The rewards can be tremendous, but the time and effort that goes into building a company from the ground up is more than most people can handle—by themselves, anyway. To ease the burden of managing a startup, many entrepreneurs go into business with a co-founder. Splitting the responsibility takes some of the load off your back while also providing a second set of opinions and strategies that can steer your company in the right direction. However, co-founding a startup is a tricky endeavour in itself.
When startups invest in marketing, they usually devote most of their energy to finding new customers. This makes sense: after all, fresh sources of revenue allow a business to grow, so why not try to court as many customers as possible? However, true as this may be, it’s important to remember that acquisition is simply one side of the marketing coin—and the other is retention. It’s significantly more expensive to sign a new customer than it is to keep an old one, so it’s crucial to find ways to keep your rate of churn (i.e. the frequency of customers jumping ship) as low as possible.
It’s a common problem that just about every fledgling startup comes upon sooner or later: how do you assemble a diverse team of skilled individuals without breaking the bank? With a limited amount of funds in your hands, you need to be strategic about bringing new talent into the fold. Finding the right balance between people who will do the job well and people who will do the job for less competitive salaries can be tricky, but it’s something you need to pull off if you want to achieve success. To learn more about hiring on a startup budget, check out the tips below.
Venture capital is often seen as the holy grail of small business financing, but it isn't for everyone. As most seasoned entrepreneurs will tell you, seeking out venture funding can be a long, expensive process, with some unexpected legal and accounting costs along the way. If you do eventually secure venture capital, you will have to give up part of your control over your own business, which means increased accountability on your part.
Money is a major source of concern for all entrepreneurs. Developing a startup isn’t cheap, which is why it’s important to secure enough funds to get your business on the road to success. In order to clear this hurdle, many entrepreneurs seek out investments from venture capitalists (VCs), receiving funds in exchange for a share of the company’s equity. Though there are numerous risks associated with attaining money from VCs, the payout can be tremendous. To help you navigate the murky waters of the VC landscape, consider the tips below.
There’s no doubt that a small team of A+ talent will run circles around a larger team of B and C level employees. The best hires will not only meet your expectations, but they’ll also lend their enthusiasm and critical thinking to steer your startup toward new opportunities. However, finding let alone hiring this kind of individual can be tricky, especially when your business doesn’t have the resources to leverage the expertise of a corporate recruiter.