Entrepreneurship - Page 3

5 Unconventional Ways to Raise Money for Startups

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raising startup capital | raise money

Your startup has been in the works for months, or even years. You’ve thought of every detail, from its name and logo to how it will be marketed and sold. You’ve even formulated an exit strategy—but now you need to raise money to get your idea off the ground. In this post, we’ll explore five unconventional ways founders can raise capital without going through venture capitalists or angel investors: crowdfunding, competitions, pitch festivals, grants, and government loans.

Crowdfunding

Crowdfunding is a way to raise money by offering your product or service to a large number of people. The most popular crowdfunding platforms are GoFundMe, Kickstarter and Indiegogo. Crowdfunding is a great way to get validation for your business idea. If you can’t find any early customers, then no one will come back later when you’re ready to sell more products or services. It’s also useful for raising funds without having to give up equity in your business (more on this later).

If you’re just starting out, crowdfunding may not be the best option for you because there aren’t many people who have heard about your company yet and that means there may be a limited demand for what you offer. On the other hand, if there’s already demand for what you offer (for example: dog grooming products) then crowdfunding could be worth considering as an alternative financing option. This is especially the case since investors are looking at metrics like conversion rate when deciding whether or not they want their raise money involved with projects such as yours!

Idea validation competitions

An idea validation competition is a competition in which you, the startup founder, submit an idea for a new product or service that you want to build. The organizers of the idea validation competition will then assess it and award one or more raise money or prizes for the most promising ideas.

An idea validation competition differs from a pitch contest in that it does not require you to make a formal presentation on stage. Instead, your work should be judged based on how well you write about your business plan to raise money and how much research you have done into what users want in this market space.

In addition, unlike most pitch contests which take place at events like TechCrunch Disrupt or SXSW Interactive Festival (and where every presenter gets their stage), during an ideation competition everyone’s ideas are posted online so no one feels like they’re getting lost in the crowd.

The good news is that there are many different kinds of Idea Validation Competitions out there – some focused on specific industries like healthcare while others focus on sectors within technology such as FinTech(Financial Technology). And since these competitions are growing(raise money) increasingly popular among startups looking for funding they’re often open year-round with multiple rounds each month so don’t wait around – submit your idea!

Pitch Festivals

Think of a pitch festival as a cross between a job fair and speed dating. You get to meet with lots of investors and potential partners, all in one place. Pitch festivals are also great for gaining exposure for your idea—you can do it at events like SXSW Interactive or TechCrunch Disrupt that draw thousands of attendees from around the world.

If you’re planning on applying to pitch festivals, here’s what you should know:

  • Know your audience. Who are these investors? What are they looking for? How much raise money do they have available to invest? Do they prefer early-stage startups or later-stage ones? Do they like consumer products over enterprise software?
  • Have an elevator pitch ready. Even if you’re not sure someone will ask this question outright (and many won’t), it’s good practice to have something ready just in case so that you don’t waste anyone’s time when they try asking about your idea too early on in the conversation.”

Government grants

If you’re looking for funding and don’t have a lot of experience, grants may be a good way to go. While grants typically aren’t as prestigious as venture capital or angel investment funding, they can provide the necessary capital to get your business off the ground. Grants are often awarded to startups that are socially responsible, environmentally friendly, or innovative.

In order to qualify for government grants, there are certain criteria that you’ll need to meet some which include:

The startup must be registered as a business in the country where the grant is being offered. You’ll need to have a business plan, which means you’ll need to know exactly how you’re going to use the funding and what your goals are.

Angel investors

  • An angel investor is a person who invests in startups, generally when they are at the seed or early stage of funding.
  • Angel investors are not as concerned with financial projections and projections as VCs, but rather focus on other factors like the team or market opportunities.
  • Angel investors often invest their own raise money in startups and can also bring their professional networks to bear on behalf of your business. They may be willing to invest up to $25,000 in a company with no formal pitch deck, but expect you to have done some research about them before approaching them directly (e.g., social media accounts).
  • You can find angel investors by starting with your network (friends and family), then expanding outward based on those who have invested in similar companies previously.

Recap: Ways to raise capital other than venture funding

There are many ways to raise capital other than venture funding. Here are a few options:

  • Crowdfunding – A great way to get your name out there and test your product, but you have to prove that people want it.
  • Idea validation competitions – You might win raise money or be able to pitch at a prestigious event. These are great if you’re just starting out, but they can also be a distraction from focusing on making sales.
  • Pitch festivals – Same as above, but these tend to be more focused on startups with proven traction and products rather than ideas alone (though there are exceptions).
  • Government grants – Some governments offer non-dilutive funding for early-stage companies; it may take some time before these help you make raise money or even see any return on investment (ROI), but they’re an option nonetheless.
  • Angel investors/seed funds/VC funds – If you’ve already been rejected by VCs above this level then try pitching them again with more experience under your belt!

Conclusion Raise Money

Raising capital or raise money is a critical part of starting up your business. The more capital, raise money you have, the more resources you’ll have at your disposal and the more time you can spend figuring out how to use those resources effectively. But don’t worry—there are plenty of unconventional ways to raise capital that don’t involve selling equity or taking on debt (which could limit your ability to grow). If all else fails, crowd-funding campaigns might be a good place for startups to start when looking for funding opportunities.


Keetria is an entrepreneur, wellness advocate, and brand strategy coach for creatives & entrepreneurs with 16 years of public relations expertise working with some of the world’s leading brands, startups, media personalities, and entertainers. If you would like to work together, don’t hesitate to reach out!

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5 Powerful Podcasts for Business and Entrepreneurship

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powerful business podcasts

Nowadays there’s a podcast for everything. From true crime stories to comedians roasting each other, there’s no shortage of content to keep your ears busy on your morning commute or during a long run. But what about entrepreneurship? Are there any good podcasts out there that can help small business owners and entrepreneurs learn new skills and get motivated? The answer is yes!

Starting and running a small business is no easy task.

There are a million and one things to think about, from finances and marketing to product development and customer service. It can be tough to know where to start or even where to turn for help. Luckily, there are some great entrepreneurship podcasts out there that can offer advice, insights, and inspiration.

Here are five of the best entrepreneurship podcasts to help build your business.

1. The Entrepreneurial Thought Leaders Series: This podcast from Stanford University features interviews with some of the biggest names in the entrepreneurial world. If you’re looking for some big-picture thinking on starting and running a business, these podcasts are perfect for entrepreneurs ready to launch their new venture.

2. How I Built This: This popular podcast from NPR tells the stories of how some of the world’s most successful businesses got their start. If you are interested in first-hand accounts of entrepreneurship in action, this could be the perfect podcast for you.

3. SOB: Style of Business: This podcast covers a wide range of topics related to small business ownership and startups. If you’re looking for practical advice on everything from creative inspiration to marketing and finance, Style of Business will get you moving in the right direction to achieve your goals.

4. The Fizzle Show: This podcasts is all about helping creative entrepreneurs build sustainable businesses they love. If you’re struggling to find your passion in your business or if you’re just looking for some motivation – don’t sleep on The Fizzle! There is a lot of great information and advice in each episode.

5. Startups for the Rest of Us: This podcast is geared towards helping so-called “regular” people start and grow their businesses. If you feel like you’re not cut out for entrepreneurship, or if you’re just looking for some relatable stories, this podcast will fuel you with the courage and inspiration you need to move towards your goals.

Podcasting is a great way to learn and be inspired as an entrepreneur.

By listening to podcasts, you can gain new insights and perspectives on what it takes to be a successful entrepreneur.

What type of podcast are you listening to help build your business? Let me know in the comments below. I’d love to hear about it! And if you need help getting started with your podcast, don’t hesitate to reach out. We can chat about the different ways we could help you bring your vision for your business to life.

Keetria is an entrepreneur, wellness advocate, and brand strategy coach for creatives & entrepreneurs with 16 years of public relations expertise working with some of the world’s leading brands, startups, media personalities, and entertainers. If you would like to work together, don’t hesitate to reach out!

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Manage Your Startup While Working Full Time

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how to manage a startup while working full time

Starting and managing your startup or small business while working a full-time job can be difficult. It takes a lot of time and energy to get a new business off the ground, and it’s often hard to find the extra hours in the day to do everything that needs to be done. 

In this blog post, we will discuss some tips for how to start and manage your startup while working a full-time job. We’ll also offer some advice on how to make the most of your limited free time!

If you’re considering launching a startup, or if you’ve already started one and are struggling to balance your work and personal life, read on.

Set Realistic Goals While Working Full Time

First, it’s important to set realistic goals for your startup. Don’t try to do too much too soon – it’s better to make slow and steady progress than to try to accomplish everything at once and then burn out. It’s also important to be flexible; as your business grows and changes, so will your goals.

Use Technology to your Advantage

Second, take advantage of technology. There are a lot of great tools out there that can help you manage your time more effectively, stay organized, and automate tasks that would otherwise take up valuable hours of your day. Utilize these tools to make your life easier and to free up time for the important tasks that only you can do.

Get Good at Delegating Task

Third, delegate! If you’re trying to do everything yourself, you’re going to quickly become overwhelmed. Delegate tasks to employees, contractors, or even friends and family members who are willing to help out. This will allow you to focus on the most important aspects of your business, and it will also help other people feel invested in your startup’s success.

Take Care of Yourself

Finally, don’t forget to take care of yourself! While Working long hours can be stressful, and it’s important to make time for things like exercise, relaxation, and socializing with friends outside of work. A healthy mind and body will help you be more productive overall, so make sure to schedule some time for yourself every week.

By following these tips, you can start and manage your startup while still While working a full-time job. It won’t be easy, but it is possible! With careful planning and execution, you can build a successful business while maintaining a healthy work-life balance. Good luck!

Do you have any startup tips of your own? Share them in the comments below! And if you found this post helpful, please share it with your friends!

Keetria is an entrepreneur, wellness advocate, and brand strategy coach for creatives & entrepreneurs with 16 years of public relations expertise working with some of the world’s leading brands, startups, media personalities, and entertainers. If you would like to work together, don’t hesitate to reach out!

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Minority Entrepreneurship: How to Find Resources to Support Growth

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minority entrepreneurship

Many minority entrepreneurs have a great idea for a business but don’t know where to find the resources and support they need to make their dream a reality. In this blog post, we will discuss some of the best places to find help and advice when starting your own business. We will also talk about how to generate leads for your products or services, and give you some tips on how to grow your business. So if you’re ready to start your own company, read on!

Ways to find resources & support

One of the best places to find resources and support for minority entrepreneurs is online. There are several informative blogs and online resources that offer advice and information on starting your own business, as well as providing a directory of minority-owned businesses. You can also find helpful articles, tips, and advice from other minority entrepreneurs on sites like Medium or Reddit and even on Instagram.

Another great way to find resources and support for your minority business is to connect with other entrepreneurs in your community. There are often meetups or networking events specifically for minority entrepreneurs, where you can share ideas, get feedback, and find potential customers or partners. You can also join online communities such as Facebook groups or LinkedIn groups dedicated to minority entrepreneurship.

Ways to generate leads for your business

If you’re looking for ways to generate leads for your minority business, one of the best places to start is by networking with other businesses in your community. You can attend local business events or meetups, or even connect with businesses online that could potentially complement your target audience. Another great way to generate leads is by offering free consultations or samples of your product or service. Providing samples or trial periods of your product will give potential customers a chance to try out what you have to offer, and if they like it, they may be more likely to buy from you in the future.

Finally, if you want to grow your minority business, one of the best things you can do is invest in marketing and advertising. There are many ways to market your business online and offline, and minority-owned businesses often qualify for special discounts on advertising rates. You can also get involved with minority business organizations or your local chambers of commerce, which can help you connect with other minority-owned businesses and get your name out there. In some communities, resources like Score are available for business owners and entrepreneurs.

Support Resources are Available for Minority Entrepreneurs

Minority entrepreneurship is a growing field with plenty of opportunities for those who are willing to put in the work. While it can be difficult to get started, there are plenty of resources available to minority entrepreneurs if they know where to look. 

With a little bit of effort, anyone can find the advice and support they need to start their own business and begin generating leads for their business. All it takes is some research and networking. By following these tips, you can find the resources and support you need to grow your business today.

Keetria is an entrepreneur, wellness advocate, and brand strategy coach for creatives & entrepreneurs with 16 years of public relations expertise working with some of the world’s leading brands, startups, media personalities, and entertainers. If you would like to work together, don’t hesitate to reach out!

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All You Need to Know About Choosing the Right Colors for Your Brand

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Your Brand

Colors play a huge role in branding, without proper explanation and the use of color, you may be sending the wrong message to your audience. You may not know, but every color that you see out there, particularly in the marketing domain explains color and a story behind it. There is always a relationship between the branding colors and the message that you want to convey to your audience. Therefore, it is important to research well and then choose a color for the brand while still looking for the answer to a very obvious question “who is going to make a Logo for me”? Once you have decided on something, it is important you send over the message to the designers so they know what they are expected to do.

With the use of the right color in the logo, you can influence your audience. There is a critical influence of color on the way we see the world. In case you are planning to start a new business or maybe thinking of rebranding, it’s time you understand the impact of colors on the consumer’s behaviors.

It is time you take a closer look at how you can incorporate colors into your brand strategy by keeping the following things in mind because obviously, you do not want to mess up your branding.

Colors and Its Meanings in Branding Life (Your Brand)

First thing first, here we are going to discuss how each color indicates something and means something in marketing. The use of the wrong color can just completely jeopardize your whole branding. Nevertheless, here we go!

  1. Red: If you are looking to grab attention and get your audience excited about something, red is the color to go with. It signifies anger, comfort, love, and life.
  2. Yellow: When advertising something adventurous, travel, enthusiasm, or happiness, yellow is the color to choose.
  3. Green: Sustainability, health, knowledge, and anything educational or healthy, if your brand promotes any of such a thing, go with green.
  4. Blue: It is the color of competence, integrity, high quality, reliability, and honesty.
  5. Purple: When it is about creativity, respect, and royalty, there is no better color than purple.
  6. Pink: It signifies romance, sophistication, compassion, love, and gentleness.
  7. Black: When you have to be sophisticated, serious, and intelligent, choose black.
  8. Grey: Choose grey, if your brand is all about class, timelessness, practicality, and neutrality.
  9. White: It shows innocence, space, cleanliness, and purity.

If you are still confused about how to choose the right colors for your brand, you need to read stay here and keep reading.

5 Tips to Choose a Brand Color

  1. Create Your Brand Identity

The colors that you choose for your brand say a lot about you, we have already discussed it before. However, you need to understand how the colors reflect your brand identity. They are one important part of your whole identity and how you should go about it. The whole palette explains your values and the message that you want your brand to communicate. In order to reach this point, you need to first explain your brand identity.

The most common practice that is followed normally is listing all adjectives that explain your brand character, list them as if you are talking about a person in general. Ask questions to yourself and see what perception you want of your brand in your customer’s minds. What is that thing that differentiates you from the other brands in your industry?

2. Explore the Meanings of the Colors

The industry you are in and the message you want to send over to the customers is the deciding factor in the overall branding. However, you must understand that colors are not the exact science and there is no particular equation that can accurately explain what the color defines. And this is where we make the use of the color combinations. If your message does not come in the palette of regular colors, it is time you make some right combinations.

As we have already discussed colors, explain the brand message therefore, proper study and research should be done to ensure you are on the right track. In order to understand, if you have chosen the right color for your brand you need to think of the differences in the meanings of the different shades when combined with the other colors. Blue alone may show something else but when combined with another color, it would mean something else.

Following industries use these colors in order to signify the right meaning.
a) Food industry: You would see most of the logos of the restaurant industry in the warm tones, one of the reasons is because they attract attention and hunger. Colors like yellow, red, and orange are a few of the many colors that are used for this purpose. However, when the brand is all about nutrition and health, green is the color that most brands use for their identification. And of course, pink and blue for the desserts and sweets.

b) Health and wellness: When we talk about health and wellness, cleanliness is the first thing that comes to your mind and nothing represents cleanliness better than blue color. The blue color shows responsibility and trustworthiness. Other colors to choose from are green and orange as they represent nature and wholesomeness.

c) Fashion: If your brand is all sophisticated and elegant you MUST go with the black color. No fashion brand can ever go wrong with the black color. You would be surprised to see how black and white are the most classic colors and they are always the safest choice. Nevertheless, you can also go with pink, red, and orange as well to show excitement, passion, and confidence as well.

d) Technology: You would most see blue color when it comes to advertising technological products. The color symbolizes intelligence, efficiency and trust. Moreover, you can also use orange as well as it is more friendly and optimistic. Other than this, purple also stands for creativity and quality.

3. Look for Inspiration

There must be a story behind your brand? Or a reason why you started it? Or something that must have influenced you to begin your brand. When you are working on branding your brand, you need to look for the reasons why you started the brand, what was the initial inspiration for you. It would help you decide your brand colors. Look through the colors your competitors are using the palettes they go through and try to think of their pattern. We are not in any way recommending you to copy their theme or influence, but you should look for inspiration from them. You both are in the same industry and nobody can guide you better than someone who has already been in your shoes. Think of all the lessons that you can take from their color choices, and the ways you can be different from them.

4. Choose the Main Color

Once you have taken all the inspiration from the competitors, it’s time you decide on the main color. The primary color will later then decide the whole palette for the brand. Such as the primary color for Tiffany’s is blue, you would see different shades of it in their whole branding. The same goes with the brands like Pinterest and Facebook, there is always so much that you can do with your primary color. The only thing is how you choose to do it.

Choose one main color that you think explains your business the best and their meaning is perfect for a brand. In order to reach the final color, you can try o the different colors and then choose the one that goes with the brand the best.

5. Choose Secondary Colors

You cannot depend on a single color for your whole branding, as good as it looks sometimes you have to choose other colors as well for the same purpose. When you have chosen the final color, look for the combinations and the colors that make the best combination with the primary color. You can choose more than one for it and then make sure the meaning of the combination is not confusing for your customers. It might be tricky for you but once you have decided on the whole palette everything later becomes easy.

Wrapping up!

Going with a branding color only because it’s your favorite is one irrational decision, you should know the science behind all the colors and understand why should it go with your brand. Most brands make the mistake of going with the colors only because the color is trending or the vibe of the color is good. It is not recommended at all. Changing your branding, again and again, is not possible therefore it is important when you are taking an initial step you should know when and how to go about it. The color you choose for your brand says a lot about you as it has a strong subconscious impact that most people do not know about.

Keetria is an entrepreneur, wellness advocate, and brand strategy coach for creatives & entrepreneurs with 16 years of public relations expertise working with some of the world’s leading brands, startups, media personalities, and entertainers. If you would like to work together, don’t hesitate to reach out!

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How to Manage Your Own Marketing Department

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how to manage a marketing team | Marketing Department

Marketing departments can be expensive for startups and small businesses. Because it is vital to ensure your business is visible and accessible to the right people at all times, many small businesses tend to go beyond their budgets on marketing departments.

For those who aren’t familiar with the industry, it may seem overwhelming to get started. But with these helpful tips from Keetria, you can be on your way to managing your own marketing department.

What Are “Channels” in Marketing Terms?

Companies use marketing channels to send out their messages to consumers. Marketing channels are essential in order to reach as many customers as possible with a particular message.

Marketing channels can be both offline and online. They can include anything, from phone pole advertising to email marketing. For email marketing, for example, consider using eye-catching subject lines and include content that addresses consumer needs.

It is important to select the channels that best suit your brand and business model. To get the best feedback, you should test several different channels at once. These channels can be used to direct your marketing department efforts.

What Is “Messaging” in Marketing Terms?

Many industries use messaging in marketing. It describes the communication your company has with customers. This type of communication is meant to keep customers trusting you and to encourage them to take the next step in their conversion or sales journey.

It’s much more than simply communicating with customers. It’s about creating meaningful messaging to influence customers’ behavior over time. It’s also about getting the customers excited enough so that they take action via the channels you provide.

How Can You Tell if Marketing Worked?

Did your marketing campaign work? Marketing department can be complicated, especially when you are trying to reach new people. You can use five methods to assess whether your marketing campaign is successful.

  • Traffic to websites has increased
  • Increase in social media interaction
  • Always positive feedback from clients or customers
  • Sales or conversions increase
  • Value your own feedback

Effective Marketing Strategies

Marketing campaigns are crucial to any company’s success. Marketing strategies are essential to growing your customer base. You can get help from a professional marketer if you need it. Here are some tips for those who want to do it on their own.

Find Your Target Market

Before you can create a marketing campaign, it is important to identify your target audience segment. You can identify your target market’s needs and provide the products or services they need by conducting market research.

Protect Yourself

The Marketing Department doesn’t count for much if you fail to safeguard your customers’ financial information (as well as your own). So make sure you’re implementing tough measures to protect your business – and your customers – against cyberattacks. With new strains of malware and viruses popping up constantly, routinely updated patches are a must if you want to safeguard financial information from hackers, as well as facilitate data recovery.

Create a Marketing Budget – Marketing Department

Before investing in any marketing strategy, you should create a Marketing Budget. The campaign should be considered for how many people it will reach, how often it will appear, and how long. If you’re launching a new product, a marketing budget will help you stay within your means.

Use Different Types of Media

Social media is one of the best ways to market your product. You can reach millions of people through social media, and they will share your content easily on their profiles. This will generate a positive buzz around your business.

Different media types, including pictures, videos, and text posts, can be used to increase engagement on social networking sites.

Keetria is an entrepreneur, business consultant, and lifestyle wellness coach with 16 years of public relations expertise working with some of the world’s leading brands, media personalities, and entertainers. If you have a question or would like to work together, don’t hesitate to reach out!

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How to Build a Team of Freelancers

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freelancer

Remote working is continuing to grow, and it’s estimated that 36.2 million Americans will be working remotely by 2025. Here are a few tips to help you build a successful team of freelancers. 

Consider Nearshoring

While outsourcing allows you to hire freelancers located anywhere in the world, nearshoring usually involves working with freelancers from countries located nearby, such as the Dominican Republic, and therefore a  similar or close enough time zone. This lets you increase efficiency by maintaining a similar daily workflow.

Post on Online Job Boards

To find freelancers, post a job listing with information about the available position. If you have a specific country in mind, you can often find job boards for that location. In the Dominican Republic, for example, it’s possible to hire freelancers via the online job portal Workana.

It’s also important to be industry-specific. That means posting job listings in places where they will be seen by relevant talent. There are job sites geared towards specific fields, from cryptocurrency to social media. Pick those most in line with the position you are looking to fill.

While a portfolio or work samples are helpful, you’ll still want to have a Google Meet, Zoom, or FaceTime call to learn more about each candidate.

Schedule Weekly Check-Ins

Be sure to schedule at least one video call a week with your freelance team when possible. Remote teams using video conferencing can build better relationships.

Establish Communication Lines

Be clear about how you’ll communicate with your team. While there are numerous social messaging channels, it’s better to try and keep workflow on email or in a messaging channel such as Telegram. Depending on the size of your team, you may want to have a Discord channel or set up Google Meet to make sure everyone is aligned.

There are a few options when it comes to paying freelancers. First, you’ll create a contract or negotiate a rate based on your needs. This can be hourly or a fixed fee delivered on a project basis. You’ll need to also discuss a timeline for payments. Consider using a money transfer service such as Remitly to ensure low fees and reliable transactions. Remitly can help you avoid high transfer fees, and instant payments to the Dominican Republic are free for first-time transfers.

Form an LLC

You’ll need to handle some logistics and admin work before you begin hiring freelancers. Depending on the amount you need, you might want to consider forming an LLC. An LLC is a limited liability company and comes with many benefits that are useful to a small business.

The amount of time it takes to form an LLC and the regulations associated with doing so differs depending on the state in which you’re planning to register. Formation services can help you with paperwork and other logistics associated with incorporation, such as ensuring you file the correct documents. They can also save you expensive lawyer fees.

Build a Team For Success

Every great idea needs support to come to fruition. Hire a team of freelancers to help you accomplish your vision. Utilize the internet to connect with talented professionals around the world. It takes a team to achieve success, and now you can choose the one that’s right for you.

Explore Keetria for more entrepreneurship insights and tips.

Keetria is an entrepreneur, wellness advocate, and brand strategy coach for creatives & entrepreneurs with 16 years of public relations expertise working with some of the world’s leading brands, startups, media personalities, and entertainers. If you would like to work together, don’t hesitate to reach out!

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Keeping the Cash Flowing: Top Tips for Business Money Management

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Cash flow is always top of mind for small business owners, but sometimes, financial problems seem to materialize overnight. This often happens when owners don’t monitor cash flow property, and therefore, don’t always recognize there’s an issue until it’s too late. Advanced planning and appropriate tracking tools can help position you for a healthy financial outlook, and Keetria offers the following guidance on making it work for you.

Watch Your Numbers

Cash flow can vary from one season to another, and there are myriad factors that can influence the amount of revenue that comes through your business. Tracking your income and your accounts payable will help you identify trends, in addition to helping you monitor overall finances — both practices that will keep you aware of and in control of your company’s finances. According to the Prince’s Trust, this starts with smart business planning, utilizing the right software tools to track cash flow, and making the commitment to regularly review your books to ensure you know where you stand.

Use the Right Software

There are numerous moving parts in a small business budget, so find a software program that will help you monitor trends, as well as segment categories and set benchmarks with which to measure your finances. Being able to recognize at a glance the various income categories in your business will help you spot red flags as soon as they arise and allow you to take proactive steps to mitigate the damage. This process will also help you with short and long-term planning, as well as identifying products or services that sell well versus those that underperform. This type of strategic planning can pay big dividends down the line.

Mind Your Money …

Of course, part of tracking your money also involves having a degree of fiduciary responsibility. Make calculated purchasing choices based on market research, consumer demand, and by assessing your own finances. Regularly review pricing structures and inventory and revisit vendor and supplier contracts on a regular basis to ensure you’re getting the best deals. While it’s wise to invest in staff members who will help build your business, it’s smart to look for redundancy in roles so you can ensure you aren’t filling positions you don’t really need. Sometimes contractors and freelancers can take the place of full-time employees.

… But Mind it Carefully

While a common inclination is to slash your budget to ribbons, this can backfire. Items that usually end up on the chopping block include deeply reducing your marketing budget or hitting pause on employee development. In dire circumstances, these might make sense, but avoid measures that could ultimately hurt your bottom line. Instead, look for ways to mindfully reduce costs.

For example, instead of seeking an outsider to find solutions to business issues, turn to your staff instead to find a path forward. This creates more buy-in and can even increase morale if a collaborative effort improves processes. When it comes to marketing, ask your team to explore more cost-effective processes like tapping into the free aspects of social media or even the less expensive paid social media. Your team can even take advantage of free tools like an Instagram post generator. Rather than forking over cash for a graphic designer, your staff can create captivating posts that are polished and professional in a matter of minutes.

Follow-Up on Accounts

Small business owners often have personal relationships with their customers, which can make it uncomfortable if there are outstanding invoices you need to collect. Make sure your bills all spell out your terms and conditions and make it easy for customers to pay you by giving them multiple options — electronic, debit, check, cash, or bank transfer. If payments are slow, let customers know you understand their dilemma, but reiterate your company policy and, if necessary, utilize a collection agency to intervene on your behalf. You may be able to salvage the relationship and still get paid, all by removing yourself from the transaction.

Make Regular Audits

Once you have your cash flow monitoring well in hand and your budget shored up, you can devote time to segmenting your various revenue streams and looking for ways to grow your business. Regular audits can help you make educated decisions about how well your business is performing, where you’re losing money, or spending too much. Operational decisions can be made from this knowledge — like expanding the business, or alternatively, downsizing, or going strictly online. Staying ahead of the cash curve will help ensure that all of the business decisions you make are informed ones.

Small businesses often operate on a shoestring budget, making financial monitoring all the more important. Maintaining good standing with creditors and suppliers and not allowing yourself to become over-leveraged will keep you on the right path to long-term business success.


Need help kickstarting your startup idea or getting media exposure for your brand?
Feel free to reach out for a free 20-minute consultation where we can chat about your business and how I can help! To schedule your time: CLICK HERE

Keetria is an entrepreneur, wellness advocate, and brand strategy coach for creatives & entrepreneurs with 16 years of public relations expertise working with some of the world’s leading brands, startups, media personalities, and entertainers. If you would like to work together, don’t hesitate to reach out!

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7 Benefits of Running a Business in Houston

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Is the cost of living in your city becoming unsustainably high? If you’re trying to get a new business off the ground, high prices for everything from real estate to labor can set you back. Or perhaps you’re opening a small local business, but you’ve found that the lack of a thriving business community in your area is making the process harder. You’re thinking about moving for the sake of your company, but you want to make sure your family will be happy wherever you settle down.

If you’re trying to figure out where your entrepreneurial future lies, you might want to consider moving to Houston, Texas. In contrast to cities with higher costs of living, it’s a great place to build up your business without making major financial sacrifices. And with PR coaching from consultants like Keetria, you’ll see business growth in no time. Plus, it’s a fantastic city for families! Here are a few reasons entrepreneurs can thrive in Houston.

Reasonable Cost of Living

Houston is a major metropolitan area with a surprisingly low cost of living, and reasonable prices have drawn in entrepreneurs and their families. For instance, if you’re thinking about buying a home, Millionacres states that you can expect to spend about $263,000. Median rent prices are also quite realistic for families and young professionals at $1,464 for a rental unit. Furthermore, there are plenty of apartments available for rent in the city, with a healthy rental vacancy rate of 7.4%.

And the low cost of living won’t just benefit you when it comes to renting or buying – it also means that you won’t have to spend as much to entice top talent. With lower labor costs, you can relax, knowing that your business has a longer “runway.”

Growing Population

Houston is a growing city, and this massive metro area is only gaining more residents. For business owners, this is a bonus: there is an ever-expanding talent pool in Houston, and every day, more professionals who are seeking new opportunities are choosing to settle down in the city. Right now, Houston is growing by 0.07% annually, and since 2010, the population has grown by 10.68%.

Diversity

Are you hoping to hire talent that can bring varied perspectives and creative solutions to your business? It’s time to start thinking outside the box and approach your recruiting and hiring process with diversity in mind. Houston has large African-American and Hispanic populations, and residents of the city speak more than 90 languages. The greater Houston area is definitely a cultural melting pot, and if you want to prioritize diversity within your business, it’s an ideal place to relocate your company.

Highly Educated Workforce

Houston doesn’t just have a large business network – it’s also a hub for higher education. Business owners can hire educated recent graduates from right in the city, and you can even bring on interns from local universities who want to gain valuable experience. These Houston colleges and universities graduate bright students who are more than ready for the professional world:

  • With multiple local campuses, the University of Houston offers unique programs in subjects like Space Architecture.
  • Rice University is consistently ranked as one of the best colleges in the United States.
  • Baylor College of Medicine is a top medical school for research students.

Entrepreneurial Community

No entrepreneur is ever on their own in Houston. You’ll be part of a community with loyal customers, helpful business owners, advisers, and local leaders. When you’re dealing with a problem, you’ll have the guidance you need to push forward, and you’ll feel inspired to take on bigger projects and challenge yourself. Bold Patents recommends these supportive organizations for entrepreneurs:

  • The Small Business Development Center provides free educational resources for business owners.
  • The Indus Entrepreneurs facilitates networking and mentorship opportunities for entrepreneurs.
  • LaunchEffect is a local incubator that offers lots of helpful services to entrepreneurs, as well as classes, hackathons, and more.

Fun Local Activities

Simply put, you’ll never be bored in Houston. On any given day, there are plenty of things to do, and no matter where your interests lie, you’ll be able to find an outlet in the city. From the eclectic restaurant scene to the gorgeous green spaces, you can enjoy a very high quality of life in Houston. And this benefits the local workforce – after all, happy employees are more productive and motivated! Here are a few places and events to check out in Houston:

  • Explore an extensive trail network and view stunning art installations at Buffalo Bayou Park.
  • Spend a day perusing the gardens, renting a pedal boat, and having a picnic at Hermann Park.
  • Let loose at the Houston Livestock Show & Rodeo and revel in the city’s creative side at the Houston Art Car Parade!

Business Launch Resources

If you’re relocating to Houston from another state, it’s important to make a checklist of all the requirements you’ll need to fulfill in order to officially open and run a business in Texas. A few important tasks for business owners include:

  • Choose a unique business name that is not already on file with the Texas Secretary of State and file to register your business entity.
  • Apply for state licenses and permits, such as a sales tax permit from the Comptroller of Public Accounts, relevant regulatory permits, and necessary occupational licenses.
  • Take out a business insurance policy and open a business bank account.

And with so many transactions conducted remotely, you’ll need a strong internet connection to launch and grow your business. To find a fast and reliable internet service, check out local internet providers that cover your area and research their average maximum speeds. If you can get fiber optic internet service in your area, it’s worth the investment – it’s generally about ten times faster than DSL service.

With so many perks for entrepreneurs, it’s no wonder that business owners and hard-working professionals are flocking to Houston. For Houston’s entrepreneurs, the future is bright! The low cost of living, growing business community, and bountiful resources mean that success is well within your reach in Houston.

Ready to start building your business’s brand? Seek PR coaching from Keetria! Schedule a free consultation call through our website today.

Keetria is an entrepreneur, wellness advocate, and brand strategy coach for creatives & entrepreneurs with 16 years of public relations expertise working with some of the world’s leading brands, startups, media personalities, and entertainers. If you would like to work together, don’t hesitate to reach out!

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How To Build A Business with Little Money

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A Newbie Entrepreneur’s Guide to Creating a Business from the Ground Up

INTRODUCTION – THE INTERNET AND DECREASED BUSINESS COSTS

Entrepreneurs today are lucky to be hopeful business owners during an era of resources. It used to be that business owners would work hard and only have a small hope that their business would take off in their area, but the Internet has now globalized the way we think about how to build a business.

The best part? It’s extremely inexpensive. Unlike marketing methods of the past that would cost entrepreneurs an arm and a leg, we’re now living in an age when social media, digital and content marketing strategies are inexpensive and easy to utilize, vastly increasing a business’ ROI potential.

Traditional physical business models are always going to be here to stay, but the age of the Internet is upon us. Entrepreneurs who want to save money while still creating and owning a business can now lease digital room at a rate that’s a fraction of the cost of a brick and mortar storefront.

The Internet is a Global Platform. It allows business owners to introduce themselves to a virtual audience while making real profits they can take to the bank.

Not only does the Internet give entrepreneurs a platform on which to reach their audience, it opens them up to audiences from around the world. Businesses that have a global potential can find success via the more than 3 BILLION users online as of August 2015. Since 1995, the Internet has grown at a staggering rate with 42% of the global population now having access to the Internet in some way.

This allows entrepreneurs to grow incredibly large businesses without investing that much capital. As businesses grow, of course, more money is needed to maintain the company — but profits grow with businesses online. Jeff Bezos created Amazon as an online bookstore and didn’t have a sale for a year. Now he owns the largest online retailer of any product imaginable.

When you use this ebook article as your guide to starting a business, you learn the benefits of the Internet as an online business platform, how to maintain costs and keep them low, as well as learn about incredible resources that can help your Internet storefront thrive.

I. BUSINESS MODELS THAT WILL KEEP COSTS LOW AND PROFITS HIGH

Let’s back up. At this point, you haven’t made a business yet, whether it’s a brick and mortar storefront or an online ecommerce hub. Before an entrepreneur ever launches any kind of business, crafting an executable strategy is the first step to success. 

First, entrepreneurs must test their marketplace. When you know your audience and what they need, you can better plan for your business launch.

The first step in marketplace testing should always be to examine market presence and competition. The easiest way to do this is to simply Google your potential business’ purpose online, like “haircare for kids” or “pet training kits.” What ads show up? How many relevant results are there? Perform your searches with quotation marks and examine how many results there are — any number under 50,000 is your sweet spot. This means competition will be minimal.

From here it’s easy to examine the competition that does exist and adjust business expectations accordingly. If a business idea has too much market competition, it may be time to rethink things.

Now we can examine the benefits of information marketing and media downloads. This is the sale of information online and media, respectively.

Information marketing is one of the most budget effective forms of business because it’s original, based on information a person already knows and only requires two things to be actionable: a website and a .PDF. Selling ebooks or online courses also help an entrepreneur grow their credibility. It’s one thing to sell a product, but the knowledge about that product is much more valuable. For instance, a dog training kit doesn’t present the same credibility as an ebook on simple dog training tips.

That doesn’t mean there isn’t a downside to information marketing. An ebook isn’t worth a lot of money in the long run, and entrepreneurs who marketing ebooks or online courses at exorbitant fees will find they don’t move a lot of volume.

In general, you make what you put into information marketing. A five or six-page ebook isn’t worth as much as an in-depth, professionally designed, four-week course package. The amount of money to be made will vary based on the quality, length and credibility of the product.

Media downloads are similar but include a different formatting. Instead of “print” media, media downloads include videos, podcasts and other forms of auditory or visual media. These, however, require more investment capital — it costs a lot less to write an ebook as compared to selling a successful podcast.

Do you have a talent or skill that can translate into online sales? Selling online services can be a great way to make money online with a personal brand as a business.

Whether you’re a writer, a graphic designer or video specialist, you can make money online without a fully-realized business to invest in. The goal may be to build up to a content marketing firm, but brand establishment is important when you’re starting out. Sites like Freelancer, Fiverr, and Upwork are great for advertising your services so you can work your way up.

There are obvious benefits and negatives here. The pros are that you get to make money without spending money and you’re performing a service you already know how to do. The negative is that you aren’t protected in the way you would be if you owned a business of your own.

On the other hand, you may already have a brick and mortar store or physical products. How do you translate a physical business into digital sales?

This can be a bit trickier when it comes to keeping things on a budget. This requires a true online business, though it doesn’t mean a lot of capital has to be invested. There are either different skills or objects needed to make this happen:

• Knowledge of ecommerce solutions

• Web design skills

• Graphic design skills

• Online-to-offline business integration

• Attention to detail

• Copywriting abilities

• Domain name & website hosting

• Customer service

With all of this work comes a lot of profit, however. The benefits of an online storefront include owning your own business, there are resources that make the process easier and easy access to scaling up a business.

This also applies to selling someone else’s physical goods as a reseller. If you want to create a business based on selling physical goods that haven’t yet been, understand that creating goods increases business startup costs by a large margin.

Sometimes it’s possible to make money in business without creating your own products or even selling your own services. Entrepreneurs can make money via other business owners via commission.

Affiliate marketing is a way to make money online without even creating a website. How is this possible? Essentially affiliate marketing is the art of sending traffic to someone else’s website or product. When that person makes a purchase, the company makes money AND so does the person that sent them there — A.K.A. you.

Owning a website and affiliate marketing for multiple companies is the best way to make money in this “business,” but it’s not something that’s required. If you already own a business, affiliate marketing isn’t something you can’t participate in. It’s all about promotion and being paid for this promotion.

The cons of this method of money making include being at the mercy of the business in question and being distanced from the product itself. On the other hand, it’s money that can be made easily with little to no time or capital investment. The company is the one dealing with products and customers — not you. In general, affiliate marketing is great for entrepreneurs that want to put their foot in the door while still making some cash at the same time.

There’s also CPA — cost per action marketing. The difference here is that there’s no selling of a product, but instead the money comes when you get someone to take some type of action. This can include something like a trial membership, newsletter subscription or another type of CTA (call to action). The purpose? Businesses know that getting in new customers or creating actionable leads is worth commission.

Finally, entrepreneurs must look at this variety of startup models and ask themselves a few questions that cement their identity as a business person.

Before deciding on a specific type of business model, these are three questions that you need to ask yourself:

• What is it that you’re good at?

• What do you enjoy doing, and can it be actionable as a means to make money?

• How much of your own business are you capable of handling yourself, whether because of your skillset or time management?

How you answer these questions may determine the business model you should choose. It’s important to know the answers to these questions in order to create a business that you’re comfortable fostering and continuing — it should be based around your wants, needs and capabilities for the sake of longevity.

II. ESTABLISHING A SENSIBLE BUSINESS BUDGET

You’ve asked yourself some hard questions and decided your business model. Now what? The next step is deciding what your budget is going to be. While the cost of your business model will vary greatly depending on the model you chose — for instance, creating a product and then establishing a website won’t be as inexpensive as an affiliate marketing site investment — it’s also worthy to note that there are always inexpensive options to choose, no matter the model you went with.

For your business start up, avoid spending money on all the business bells and whistles. Look for free tools and resources that will lower your costs.

For both startup investments and continuous operational costs, there are three different types of costs that factor into these different business areas.

The costs being discussed are:

• Fixed — These are one-time investments that you’ll only have to spend once or very rarely.

• Recurring — Costs that are cyclical and will be a constant concern, whether monthly, weekly or yearly.

• Invisible — Hidden investments that relate to a business but not specifically.

To keep things simple, let’s break down each type of cost and common expenses that fall into that category, as well as an estimated cost for that expense:

FIXED COSTS

• Software needed to run a business (can be free or up to $500)

• Web design (free to $2,000)

• Extra development (up to $500)

• Branding creation (free to $300)

• A computer for work ($350 to $1000, laptop preferred)

• Business cards and other startup marketing material ($20 to $50)

RECURRING COSTS

• Domain registration (varies depending on your host, but typically $10 to $15 a year)

• Web hosting (varies depending on host, $6 to $15 per month at startup)

• SSL certification ($70 to $300 per year, not totally necessary but recommended)

• Maintenance ($100 to $2000 depending on your experience level)

• Payment processing (usually 2.9% commission)

• Advertising (free to varied, like $5 per day via Facebook advertising)

• Email autoresponder ($20 or more per month depending on email volume)

• Shopping cart (free to $200 plus per month)

• Cloud storage (free to $10 per month)

• Site backup (free to $5 per month)

HIDDEN COSTS

• Time, in the context of wage and business cost

• Rent or mortgage of your own home, A.K.A. your business hub

• Bills for Internet, phone and electricity

• Education required to run said business

• Email management

It’s important to make a very obvious note here:

This is an example. It is used as a starting point for one type of business model. Some expenses may apply to your business model, some may not. Some may not be listed. Your own budget depends greatly on your business model, experience and the tools you need to get started.

Smart business owners will look for ways to cut their costs and vet any only deals they think can lower their budget. For your own reference, copy this sheet to a document of your own and edit it accordingly. What does your own budget look like?

III. TOOLS ENTREPRENEURS CAN USE TO HELP STAY WITHIN THEIR BUDGET

You now have the business model you want to go with and the budget required to make it happen. Now the next step is to further estimate those costs via reliable and cheap service providers that can further decrease your budget.

It’s worth saying that just because a service is cheap, it isn’t worthless — many big name companies still use “tight budget” companies because there’s no use spending lots of money on a service when you could be saving all that cash for something else.

For each area, three different inexpensive service providers are listed. Choose one of these or do your own research on a cheap service alternative!

If your business requires one of these services, consider the recommendation:

DOMAIN REGISTRATION

• GoDaddy.com

• Domain.com

• Name.com

WEB HOSTING PROVIDERS

• Ehost.com

• iPage.com

• Bluehost.com

For more information on choosing a provider for your business, check out this best web hosting provider resource from Digital.com.

WEBSITE PLATFORMS

• WordPress.com

• DoodleKit.com

• Moonfruit.com

ECOMMERCE SOLUTIONS

• WooCommerce (Free plugin for WordPress, but expensive for additional features/extensions)

• Shopify

• 1shoppingcart

FREE BUSINESS LISTINGS

• Google My Business 

• Bing Places for Business

• Yahoo Local

We also suggest using a PASSWORD MANAGEMENT SYSTEM to protect your information. Check out this complete password management systems guide from PasswordManager.com

These are just a few types of resources and a few examples of each resource — this gives you a starting place for looking for your own inexpensive resources.

IV. YOU’VE STARTED A BUSINESS…NOW HOW DO YOU STAY ON A BUDGET?

Creating a business and setting up a budget are actually the easy steps within this ebook. Now we get to examine how to continue to stay on a budget as your business grows and resources necessary to keep things on track.

Maximizing business profitability is something a lot of experts talk about, but new entrepreneurs often don’t understand how to make it happen. Thus, they’re often lured into profitability scams — or resources that live by the old adage “you have to spend money to make money.” The sad thing is that entrepreneurs will spend money on these services, then find they aren’t making the money they were promised.

Starting a business doesn’t mean you have to spend lots of money to make it work. It’s essential to understand how to manage a business while simultaneously making money doing what you love.

First, don’t throw away your day job just because you got your first ecommerce sale. A startup company shouldn’t be what you sacrifice a living wage for, especially when you don’t know if your first attempt at business ownership will be successful or not.

Learn how to barter for goods and services. Being cash poor doesn’t mean you aren’t extremely wealthy due to your assets, skills, abilities and connections. If you can’t buy graphic design work, why not leverage your content writing abilities for a logo design?

Do you watch Shark Tank? You don’t have to go on national TV to find a great business investor. There are venture capitalists out there that would love to give you money to run your own business in order to see an expansive return.

Always look for ways to be thrifty. Don’t ever spend money without thinking first: “can I find a less expensive way to accomplish this task?” If you like looking for deals while grocery shopping, apply those same techniques here. Look for coupon codes, do your research and always be willing to haggle.

Finally, don’t spend big bucks on invoicing or accounting. Budget marketing tools like TurboCash or FreshBooks exist for a reason.

It’s also unnecessary to spend big bucks on marketing. Online marketing is cheap, easy to do and gives businesses an incredible ROI.

Online reviews are your friend. When a business is starting out, credibility is paramount. CTAs (calls to action) and requests for reviews can make all the difference in the world. Promote your business on sites like Yelp! or Google+ Local for an added incentive.

Blogging can be another way to make your business more credible while simultaneously creating marketable content. Blogs are easy to link to on social media, create SEO potential and establish yourself as an industry expert.

Speaking of social media, businesses that aren’t on social media are behind the times. Promoting products and deals on sites like Twitter, Facebook and LinkedIn (depending on whether your business is B2B or not) can bring in new traffic, generate new leads and give businesses the ability to connect with consumers.

You should also consider joining industry groups. Whether they are forums or chat rooms, these are vehicles for building great industry relationships while also promoting SEO in search engines.

Sites like HelpAReporter.com, or HARO, will help to promote your business via press releases or news stories you provide them. This helps media channels to find verified information about your business.
Connect with other businesses via a tit-for-tat relationship. Promoting another business via testimonials or cross-promotion efforts can mean they’ll do the same for you.

CONCLUSION – CREATING AN ACTION PLAN THAT WORKS

It’s one thing to have all the information necessary to start a business, and yet quite another to actually make it happen. I’ve provided you with advice and resources — now it’s your turn to turn it all into an incredible business!

You now know:

• It’s possible to make money online and to lay the foundation for an Internet business without investing a lot of capital.

• The Internet can give any business global reach.

• How to create a budget and stick to that budget with easily actionable tips.

• You can start and own a business for as much as $1,000 to as cheap as being completely free!

You don’t have to fully commit to all of these tasks yourself — outsourcing can be an incredible asset to new entrepreneurs.

It’s always important to consider what you’re capable of and what you can delegate to someone else. As your business grows, so will your need to ask others for help and to create new jobs for new employees. Every business starts with one person, but great business owners will soon realize their small startup has the potential to be something much bigger than they ever thought possible…

…and all of that is possible thanks to the Internet and low-cost business techniques.

Keetria is an entrepreneur, wellness advocate, and brand strategy coach for creatives & entrepreneurs with 16 years of public relations expertise working with some of the world’s leading brands, startups, media personalities, and entertainers. If you would like to work together, don’t hesitate to reach out!

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