Entrepreneurship

The Ultimate Work-at-Home Job: Running a Bed and Breakfast

Running a brothel was never part of Debbie Miller’s plan. But 25 years ago, in rural Ohio, there were few people who understood the distinction between a luxury bed and breakfast and a house of prostitution. “The local county commissioners had no idea what a bed and breakfast was,” says Miller. “And because it was a rarity …

Four Businesses Kids Can Start Themselves

The Internet was buzzing recently about a 15-year-old New Yorker who rakes in $300,000 a year with her babysitting agency, Nannies by Noa. Noa Mintz saw a need for matching parents with suitable babysitters. She now oversees 25 nannies and 50 babysitters, and she receives 15% of their initial gross salary. While a nanny service …

Four Steps to Turn Your Idea Into a Business

What was the last great business idea you had? Do you remember it? What did you do with it? Did you write it down? If you’re like most people, you had a great idea, never wrote it down, told a couple of co-workers or your spouse, and let the idea fade away without taking any meaningful action to …

Five Side Hustles Even Your Grandma Could Try

Spending less than you earn is the No. 1 rule of personal finance, so increasing your earnings can immediately improve your financial picture. But depending on your job, it can be difficult to boost your weekly or monthly income. If you’re paid hourly, for example, you might be able to secure some overtime. But if you’re paid …

Small Business Saturday: Snow Is Money for Plowz & Mowz

For Wills Mahoney and Andrew Englander, snow is money. And so is an untended or overgrown lawn. The two former Syracuse University roommates are the creators of a pair of smartphone apps – Plowz & Mowz – that, as the names imply, are aimed at simplifying your life when it comes to snow plowing and …

Three Tips for Creating Profitable New Business Ideas

It seems like everywhere you look, someone is creating new business ideas and making a fortune. Just recently, a young entrepreneur sold his website for $85,000, and all he did was help people ship envelopes of glitter to their enemies. If that’s not creativity (or maybe just dumb luck), I don’t know what is — but I sure …

Is Your ‘Business’ Just a Hobby?

There’s an old Gershwin song that goes, “You say tomato, I say tamahtoe … let’s call the whole thing off.” Taxpayers and the IRS have their own version: “You say hobby, I say business.” The difference between businesses and hobbies is that you have to prove that your hobby is a business by passing not one …

Categories: Entrepreneurship, Taxes

How to Make Money Online Without Really Trying

The good news: Making money online is no longer a pipe dream. The bad? Who knows where to start? There are countless success stories of people earning passive incomes online, whether it’s from blogging, creating YouTube videos, or through a startup. Then there are others who make money online, but you’re not sure how, and you’re secretly hoping they’re …

Some Thoughts on the Parable of the Fisherman and the Banker

Over the last week, several people have sent me this story from a bunch of different websites. I’m not sure where it originated, but the first place I saw it was on Financial Mentor. Here’s the parable: The Parable of the Fisherman and the Banker An American investment banker was taking a much-needed vacation in …

Small Business Saturday: Meet SPOT, ‘the Uber of Parking’

For those living in overcrowded urban environments, the routine is familiar, and frustrating. You battle rush-hour traffic to get home each day, only to spend another half-hour (or more) cruising slowly around and around your neighborhood, in ever wider circles, in search of parking. And when snow is added to the equation, finding on-street parking …

This One Move Can Save You $1,000 a Year

It lets you shop endlessly on eBay. It keeps you tuned into the latest water-cooler gossip on Facebook. It allows you to follow photo stories of people — some you know, some you don’t — on Instagram. You can watch endless videos while waiting for the train. Access your email everywhere you go, and an entire music library right …

Why You Don’t Need a Business Degree to Start a Business

“I have never let my schooling interfere with my education.” – Mark Twain Do you need a business degree to know how to run a business? Most of the business lessons that have helped me become successful as an entrepreneur were not learned in college. They were learned by starting businesses that either worked or didn’t …

Seven Truths About Self-Employment

It’s three hours until closing time and you’re already counting down. Once the clock strikes 5 p.m., you are ready to race out that door and find comfort with your family – at least until tomorrow. Your morning meeting was beyond frustrating, your co-worker smacked her gum all day (again), and the entire day was …

Small Business Saturday: Make Candy, Make People Happy

For a man who was once featured on the television show “America’s Funniest People” and spent years working as a sales manager for IBM, making and selling delicate chocolates for a living doesn’t necessarily seem like a natural fit. But really, what is the ideal profile for a chocolate maker? For San Diego’s Jerry Swain, …

12 Reasons Startups Fail

“Sometimes when you innovate, you make mistakes. It is best to admit them quickly, and get on with improving your other innovations.” — Steve Jobs While there’s something to be said for learning from your mistakes, there’s also something to be said for learning from the mistakes of others and avoiding the startup pitfalls altogether. Some business mistakes are …

Small Business Saturday: Mending the Music Makers

Becoming a luthier is not a good career choice, period, says Cat Fox emphatically. But just in case there’s any doubt about her point, she adds: “This is not one of those things that people should get into. Nobody makes any money doing this. You can only do this and succeed if there is nothing …

Time Management Tips for Entrepreneurs

As an entrepreneur, at times it can feel like Niagara Falls has opened the floodgates on you. To keep the ship afloat and flourish as entrepreneurs, we feel like we need to be in go-go-go work mode at all times. The reality is we also need to exercise, eat well, get enough sleep, spend time with …

Seven Ways to Motivate Employees

In the famous scene from “Glengarry Glen Ross,” Alec Baldwin is brought in as a corporate consultant from “the big boys downtown.” His condescending demeanor, crude and insulting language, and intimidating presence are meant to motivate an underperforming sales team and scare them into doing better. Among other things Baldwin does to insult the sales reps, he reveals …

Starting a Business? 12 Must-Read Books

If you want to be a successful entrepreneur, reading is essential. It will change your world and expose you to new information, points of view, and ideas to help you see the world through a different lens and launch your business. According to the Harvard Business Review, all leaders are readers. Create the Reading Habit How …

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