One of the eternal questions in entrepreneurship is why do so many startups still fail. Is it a bad idea, poor execution or are many just not cut out to be their own boss? On The Small Business Radio Show this week, Tom Eisenmann, a Professor of Business Administration at Harvard Business School discusses the real reasons in his new book, “Why Startups Fail”. He has interviewed over 470 entrepreneurs and has case studies including an ice cream maker, a concierge dog-walking service, and a sophisticated social robot. Interview with Tom Eisenmann Tom believes that too many experts focus on examples of success rather than failure. He explains that we can learn more from the many companies that have failed rather than mocking them. Tom says… [Read More...]

Running a small business is hard work. But it can also be fun if you love what you do. Personal development is an important element of creating a successful, sustainable business. Use these tips from the online small business community to learn, grow, and love what you do. Find Joy in Your Business Lots of entrepreneurs get into business because they love it. However, that feeling can sometimes fade through the years. If you want to build a sustainable company, it’s important to enjoy it at least somewhat. John Jantsch dives into this topic with Shani Godwin in this Duct Tape Marketing post and podcast. Add Fitness Workouts into a Busy Life Schedule Taking care of your business requires a lot of time. But it’s… [Read More...]

When seeking to buy an existing business, you may need to get a loan to cover all or part of the initial purchase. There are plenty of small business financing options to choose from, including SBA loans, bank loans, seller financing, and online options like Fundera and Lendio. To learn more about buying an existing business, download your free copy of BizBuySell Guide to Buying a Small Business. You can also download the free ebook BizBuySell Guide to Selling Your Small Business for small business owners seeking a buyer for an existing business. Use the BizBuySell Business for Sale feature to find a small business for sale or the Find a Business Broker feature to get help finding a small business. How to Get a Business Acquisition… [Read More...]

Athletes and small business people have a lot in common. That’s what an ex-NFL player concluded when he hung up the cleats to work as a broadcaster/entrepreneur and consultant. Jordan Babineaux is a former NFL defensive back for the Seattle Seahawks. And he’s the author of Pivot to Win: Make the Big Plays in Life, Sports & Business. Small Business Trends contacted him to find out how small business owners can thrive on the same ingredients he’s used to succeed. “We are all constantly pivoting whether we realize it or not,” he says. “The one constant thing in life is change. Pivoting away from the NFL was one of the biggest challenges for me. I had to redefine success… [Read More...]

The customer experience can encompass tons of elements — from your website to the in-person sales process. Even though it can get complicated, putting yourself in your customers’ shoes is a must. And improving the experience may help you convert more leads and keep more customers. Here are tips from members of the online small business community for doing just that. Ask for Customer Feedback You can’t hope to improve the customer experience if you don’t first know where they stand. If you want helpful feedback to help you make improvements, you need to gather feedback. That means you have to ask for it. This GatherUp post by Holly Stanley includes tips and templates to help you do just that. Increase Your Revenue With… [Read More...]

Technology is constantly changing the way small businesses work. From new smartphones to social media platforms, it’s important to keep up with the latest trends impacting consumers. Here’s a rundown from members of the online small business community. Adjust to Changes in Your Social Media Feeds Social media platforms are their own businesses. So they have to adjust based on factors that affect their industry – just like any other company. This may lead to changes for users. This is especially relevant right now, as Christian Zilles explores in this Social Media HQ post. Consider Mobile Vs. Desktop Trends in 2021 The way customers interact with businesses online is changing. Some use desktop computers, while others focus solely on mobile technology. So understanding the trends is… [Read More...]