01. Brainstorm and refine your business ideaYou might already have a great business idea that you can’t wait to start, or maybe you’re still in the early brainstorming stages of finding your niche. If the latter applies to you, think about what you’re passionate about and what skills...
Evaluate your requirements and choose software that provides the necessary tools to manage your finances effectively, ensuring the long-term financial health of your business. Determine Your Break-Even Point Understanding your break-even point is crucial for any business, as it indicates the level of...
How do I turn an idea into a business? To turn an idea into a business, you need to identify a customer base through market research, conduct competitive analysis to hone your message, and develop a business plan that outlines both your profit potential and how you'll reach it. ...
What is Financial Forecasting + Why it Matters for Small Business Elon Glucklich March 4, 2025 How to Plan for the Impact of Tariffs LivePlan Team February 27, 2025 The Hurdle Episode 6 | Buying and Rebuilding a Business 1.888.498.6136 ...
Learn about what makes a good business idea, and how to take your idea from inception to production. Endless job applications and interview callbacks may seem like the gatekeepers of employment, but that’s not necessarily the case. Entrepreneurship is an option that many people pursue, especial...
Questions to Determine If a Sole Proprietorship is Right For You Will you be the only employee, at least for the foreseeable future? If yes, this is an excellent option for you. Are you all right with assuming full liability for the business? If so, this is a good choice. If not, co...
1. Finding your business idea You’ve probably heard the old saying, “Do what you love, and you’ll never work a day in your life.” But let’s be honest, it’s not that simple. Yes, it’s essential to do something you love, but let’s not forget the two biggies: your busin...
Not every business idea is a winner. It may look good on paper but lacks qualities that allow your new business to grow. Learn how to identify those traits and determine if your idea is actually good.
1. Define Your Business Idea Few things kill a new business like a concept that’s way too vague. How do you even start building your business if your plan is simply to “make a new type of social network?” Well, you don’t. You either refine your idea into something tangible, or...
The work you’ve done to refine your product should enable you to determine what you need to satisfy increased demand and generate more revenue to become a profitable business. Once you’ve figured out how to scale your product, the next question is one of unit economics. “If you’re mak...