The Business Plan for Teen Entrepreneurs, Part 1 Last month, we introduced the concept of a Business Plan – a written plan outlining your idea, your goals, and your approach for making them happen – for teen entrepreneurs. We gave you 10 great questions to reflect on to help you identify and articulate your big idea and what your dreams for it are. If you haven’t answered those questions yet, we recommend you go back and do that before actually getting started on the business plan itself. If you have, and you’re ready to get down to the business of business plan writing, read on! A typical business plan has 9 different components: 1. 2. 3. 4. 5. 6. 7. 8. 9. Sound intimidating? Although the first piece of the business plan listed above is the Executive Summary, we’ll come back to that at the end of the process. The Business Description Instead, we’re going to start with the Business Description or Company Profile. A few specific things to note when writing out your Business Description: Length: Think short essay over term paper.
10 Must Read Blogs for Entrepreneurs (2012 Edition) Almost three years ago we posted “10 Blogs Entrepreneurs Need to Be Reading” and to this day it has remained the most popular post on the Grasshopper blog. While it’s an excellent list, we feel it’s time for an update. We bring you the 2012 version, 10 Must Read Blogs for Entrepreneurs. 1. Link: About: Run by serial entrepreneur turned VC David Skok, For Entrepreneurs is exactly what the name implies; a place where entrepreneurs can get solid advice from someone who knows what they are talking about. Awesome Factor: Looking for an in-depth post that will make you really think? 2. Link: About: Just about everyone is familiar with Forbes Magazine. While the blog is not quite as old as the mag (by about 80 years), it’s done a great job of staying relevant, up to date and staying true to it’s audience. 3. Link: 4. Link: 5. Link: 6. 7. 8.
7 Books That Should Be on Every Entrepreneur's Bookshelf Posted by Guest Author on July 23, 2012 in Business Start Up Advice [ 5 Comments ] While most of the greatest lessons that you’ll learn as an entrepreneur will probably come from mistakes and challenging experiences, published works such as books, whitepapers, blog posts, and the like still provide a lot of value for business owners. Books in particular are great resources because they can offer credibility and in-depth commentaries that most online sources can’t match. Below are some of the best books that entrepreneurs can have on their bookshelves. Whether you’re looking for some motivation to continue with your venture, or wondering how the most successful entrepreneurs got to where they are now, these 7 books are definitely worth checking out. The Lean Startup by Eric Ries In the words of Eric Ries himself, “Entrepreneurship is not about your DNA or astrological sign. How to Win at the Sport of Business: If I Can Do It, You Can Do It by Mark Cuban Enchantment by Guy Kawasaki
6 Simple Rituals To Reach Your Potential Every Day It’s Tuesday morning at 8 a.m. Two San Francisco entrepreneurs are pitching their ventures to potential investors today. They’d both agree that this is one of the most important days of their lives. This is the story of Jane and Joe... Jane was up until 4 a.m. putting the final touches on her deck. Joe, on the other hand, went to sleep last night at 11 p.m., as he does most nights of the week. Which entrepreneur would you bet on? And, which entrepreneur most closely resembles you? Jane and Joe are fictional characters but having been immersed in the world of startups in both New York and San Francisco, I see a lot of Janes. This past weekend I had the opportunity to speak with my friend Mike Del Ponte, who resembles the character of Joe. "Every day I need physical energy, mental clarity, and emotional balance to tackle everything that comes my way," Mike said. Here are the six simple rituals he uses to perform at his highest, which you too can begin implementing right away: 1. 2. 3. 4. 5.
10 Top YouTube Channels for Entrepreneurs What is your favorite YouTube channel for business building tips and why? The following answers are provided by the Young Entrepreneur Council (YEC), an invite-only organization comprised of the world's most promising young entrepreneurs. In partnership with Citi, the YEC recently launched #StartupLab, a free virtual mentorship program that helps millions of entrepreneurs start and grow businesses via live video chats, an expert content library and email lessons. 1. Jason Calacanis is my favorite Web host, with his show "This Week in Startups." 2. I love Pam Slim's videos because they always contain a call to action that won't take up a lot of my time and always help get the creative juices flowing. -- Jennifer Grayeb, FitFluential 3. David Siteman Garland runs The Rise To The Top, and he interviews awesome entrepreneurs who always give no-BS tips that are extremely helpful. -- John Hall, Digital Talent Agents 4. Ramit Sethi tells it how it is. 5. 6. 7. 8. 9. 10.
How To Write a Business Plan Planning for Success You've no doubt heard the expression, "Failing to plan is planning to fail." Many entrepreneurs write a business plan only when they need to secure start-up financing. However, your plan is far more than a document for banks and investors to read; it's an invaluable roadmap for launching and growing your business. In order to put your business concept on paper, you need to think through and research the many factors that are needed to make sure your business is a success. Here, we've summarized the key sections that you'll find in a business plan. The Seven Key Sections of a Business Plan 1. Your executive summary should be 1–2 pages long, and provide an overview of your business concept, key objectives of your business and your plan, ownership structure, management team, your product or service offering, target market(s), competitive advantages, marketing strategy, and a summary of your financial projections. 2. 3. 4. 5. 6. 7. Business Plan Resources Write For Us →
Understanding How Dilution Affects You at a Startup This post originally appeared on TechCrunch. Dilution. Or as industry insiders call it, “taking a haircut.” Everybody knows that when you raise money at a startup your ownership percentage of the company goes down. The goal is to have the value of the startup go up by enough that you own a smaller percentage of a much larger business and therefore your total personal value goes up. The simplest way to think about this is: If you own 20% of a $2 million company your stake is worth $400,000. But understanding how you’re likely to get diluted over time is a more difficult concept. I’ve had to simplify a bit, but to make it easier to understand I’ve teamed up with Jess Bachman at Visual.ly. And Jess is awesome at his trade. So here is our crack at explaining the world of dilution to you. Listen, understanding the world of valuations and how equity gets split on a sale is a whole lot more complicated than the graphic depicts.
The Top 10 Things Successful People Do To Reach Their Dreams Our bookshelves are lined with habits that successful people do on a daily basis. We read about them and implement them into our routines and practices. Quite often these practices improve our productivity and make our lives better as a result. Here’s a brief study of 10 things that these hungry and unstoppable people did to see the success they all eventually achieved. The 10 Things Successful People Live By Before They Make It 1. We all have two voices. We also have the voice that tells us to take a break, to think about what’s on TV, or to visit a site that we like to visit that entertains us – whether it’s ESPN.com or facebook. In life we’re the victim of injustice from time to time. Nelson Mandela could have used his unjust imprisonment as an excuse to give into his anger. Listen to your excuses. 2. ‘Things’ can be a motivator, they can even be a reward, but they can’t be the motivator. Yes we can make money when we have the primary goal of making money. 3. 4. 5. 6. 7. 8. 9. 10.