Category: Entrepreneurship

Get Rich Quick by Teaching People How to Get Rich Quick

Note: This is satire, if you’re looking for legitimate business advice, this isn’t the right article for you. This is more of a guide to help aspiring entrepreneurs avoid obvious scams.

In a world where everyone is chasing the next big thing, finding meaning in your work is very important for your well being. What better way to do this than by empowering others with the financial freedom to fulfill their dreams? Instead of just building a billion-dollar business for yourself, why not teach others how to achieve the same success?

It is more than just a job, it is a mission to make the world a better place, one success story at a time. And today, I will give you my secrets to become a business guru in no time.

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Top 11 Mistakes Ecommerce Entrepreneurs Make

When I started my first business, I dedicated several months to work on my D2C website. I was very proud of having my own website with my own products for sale. It was only when I thought my website was good enough that I created my Amazon Seller account. I was surprised to see that it barely took me two weeks to create my Amazon listings and secure my very first sale. If only I had created my Amazon before working on my website, I could have made six months’ worth of sales before opening my D2C channel. I didn’t have a good idea of what sales channel to prioritize at the time, and this was a costly mistake. 

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How to Find New Products Ideas

I have met many aspiring entrepreneurs over the years. While some were quick to start their first business, most were struggling to get started. I have heard many reasons (some would say excuses) why they wanted to start a business but could not: lack of funds, not enough education or experience, or too busy with their job. But the one reason that comes up the most is finding the right idea. It is easy to convince someone that they can start a business without a Harvard MBA or a million dollars in the bank. But getting them to acknowledge they can find a good business idea is more difficult.

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You May Have More Competitors Than You Think

How many competitors do you think you have? Are you sure your environment isn’t more competitive than that? It is easy to underestimate how many competitors a company has. While finding out about direct competitors is easy, the threat of indirect competitors (or threat of substitutes) can be more difficult to evaluate. Ultimately, when does this competition matter, and when is it less of a problem? Let’s find out!

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6 Ways Technology Can Lead You to Massive Success

“Metaverse”, “Cloud Computing”, “Datafication”; these days, it feels like every other news article about business is trying to use as many technology keywords as possible. We hear about innovation and disruption in the entertainment, medicine, and transportation fields everyday. I’d say that half of the people using these buzzwords have no idea what they are talking about, but they feel they have to use them to sound smart. It is easy to get a sense of technology being important for businesses and entrepreneurs, including those operating online. A huge part of top companies are tech for certain reasons. Technologies and technical processes can create opportunities and improve operations. After all, the internet is the reason ecommerce exists in the first place. But technology can also kill businesses unwilling to adapt to the ever-changing environment. Let’s see how.

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How Politics Impacts Your Business

The French presidential election took place a few weeks ago, and I am glad it is over. I was getting bored of hearing the same things all day, every day, in the media – although it is always an interesting time. Hearing the candidates and politicians or reading about global politics always gets me thinking: What is the impact on businesses?

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How to Not Get Crushed When Competitors are Slashing Their Prices

We have all experienced this. Sales that previously looked great start to decrease month after month. Is it because of lower customer demand? Or is it due to issues with distributors? Perhaps there is something about the competitors’ landscape we did not notice? Seeing a new competitor enter your market is never a great experience, but realizing they offer similar products and services at a shockingly-low price is especially scary. But what should a company do after the initial panic?

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How Can Small Businesses Take Advantage of Economies of Scale?

As you probably already know, economies of scale are cost reductions that occur when companies increase production. When you open an economics textbook and you read about it, you might find examples about company XYZ ordering 1 million units from their supplier instead of 100,000. I remember being a college student and learning about these economics concepts; it did not feel much different than learning about trigonometry in middle school: “When am I going to use this outside the classroom?” was my immediate thought.

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How Freelance Marketplaces Can Help You Build Your Business

Earlier this year, I was talking to a student who told me she was considering starting a side online business to generate extra income, and she told me about some challenges she was facing. One of them was about graphic design, our conversation basically went like this:

  • “The thing is, I’m not good enough at graphic design.”
  • “You don’t have to do it yourself. Do you know anyone who can help you?”
  • “I don’t think so.”
  • “Well, why don’t you hire a graphic designer?”
  • “I don’t think I can afford it. This must be expensive, right?”

And that is when I told her about marketplaces for freelance services.

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