There is no way to overstate the importance of good communication as being a necessary skill in becoming a successful leader. In fact, clear communication is so important, there is virtually no chance for an individual to lead his team to success. To be clear, there is no doubt that there are other factors that are necessary. A leader must identify with his team members and get them to feel tha... [read more]

Every young entrepreneur needs to follow a guideline that will assist in helping them to become successful. Many of the elements in any plan of action can seem counterintuitive, but they have proven over time to be very effective. With this in mind, here is a list of the most important elements of this guideline. Focus Your Activities on Innovation Many think that companies like Google, Facebo... [read more]

With optimism in the American economy high, many are looking to cash in on the businesses they built during the lean years of the Great Recession. While streamlining business processes, conducting renovations, and keeping key talent on board are all great ways to increase a company's value, few consider the power of building recurring income streams. In this article, we'll profile several ... [read more]

Entrepreneurship is not an easy nut to crack. In fact, failure occurs so frequently in business, it is often celebrated for the lessons it teaches us. That being said, it is best to learn from the mistakes of others rather than suffering the pain of making them. In this article, we'll discuss the most common reasons small businesses experience failure. 1) No market for their product/serv... [read more]

Sam, where did you grow up? I was born in Seoul, Korea.  I came to the US at age three.  I grew up inside the Washington DC beltway in McLean, Virginia. Where did you study for college?   I have been fortunate to have studied at numerous great colleges.  The simple answer is that I got my BSBA in International Business from Boston University. What was the first job you had out... [read more]

  At some point, every business owner will end up relinquishing the reins of the company they built. How this occurs is up to them: they can either plan how this process will play out, or they can let blind circumstance sort out the details. Actively planning an exit strategy can help entrepreneurs leave their company with the financial freedom they'll need to stride confidently into t... [read more]

The first purchase of a company is a transaction that can be fraught with risk. A rookie entrepreneur's lack of experience can blind them to parts of the process that can cause serious problems months or years down the road. They devote the majority of their attention to revenue and profit figures, and in doing so, they often neglect to examine parts of a prospective business that pros seldom e... [read more]

With most parts of the state being within easy driving distance of Washington D.C. and Philadelphia, Maryland is uniquely positioned for entrepreneurs looking to purchase and run a successful business. Due to its proximity to D.C., the economy of Maryland is stable and prosperous, as it is driven by federal spending on institutions that are vital to the nation as a whole. In addition to ... [read more]

When most entrepreneurs start businesses, they don't do it with the intention of scraping by from month-to-month, they want to thrive. This is done by becoming a dominant player in a specific space. The strategies used to make this happen hold true locally as well as globally. However, there are some adjustments that entrepreneurs will need to make to accomplish this within their communities... [read more]

Located in the American Southeast, North Carolina has in recent years developed a reputation for being a great place to start a business. With a number of business-friendly regulations and policies in place, it is easy to see why many entrepreneurs are enthused about living and working in this southern state. Their excitement isn't limited to business fundamentals, as North Carolina's outst... [read more]

As the most prominent of the Mid-Atlantic states, New York is an intriguing place to buy a business. This state boasts a stable economy, significant international investment due to the economic gravitas of New York City, and plenty of disposable income that comes with the high quality employment opportunities found here. New York State is home to numerous economic powerhouses that help drive t... [read more]

Situated in Southern New England within a stone's throw of New York City, Connecticut is an exciting place to start or acquire a business for motivated entrepreneurs. Home to insurance companies such as The Hartford and Aetna, and manufacturing firms such as Lockheed Martin, United Technologies Corporation, and General Dynamics, there is no shortage of economic activity in this state. Why i... [read more]

When a business owner moves to sell their first business, they are often met with frustration when potential suitors lack the funds they need to afford the asking price. The truth is, most buyers aren't able to purchase a business using 100% of their own funds, necessitating some sort of financing. However, banking institutions don't hand out money as readily as they used to, a trend that... [read more]

Though it may appear to be a rash thing to do, re-branding a business at regular intervals is essential to keep up with the shifting needs of consumers. When is the right time to re-brand a company? Below, we will share a few examples of when a shift in marketing strategy is warranted. 1) Its product isn't meeting the needs of a new generation When a company has been around for many deca... [read more]

Of all the steps in the life cycle of a business, the exit is the one that generates the most excitement. All those long hours invested into growing an idea into a revenue-generating machine get rewarded by the hopeful large buyout, as well as the free time needed to enjoy it. However, it is important for business sellers to carefully vet buyers, as there are many unqualified individuals for e... [read more]