Small Businesses
What are the opportunities for small businesses and the owners?
Freelance online, Etsy, develop apps, sell course, influence on social media
Although businesses want to help their employees with Health Care, who receives the financial blow?
Business owners
What do social startups combine?
Social issues and Commerce to start a business
What is the objective of Buyable Startups?
To sell to other companies to make a profit
- Common Qualities of Good Entrepreneurs
Perseverance, leadership, work ethic, problem solving etc.
How can they help other entrepreneurs?
Marketing themself as a Professional consulting person who can help others launch their ideas
How is advertising controlled?
The government set advertising regulations
What do social startups strive to accomplish?
Battle social and environmental challenges
What are the most popular buyable startups?
Mobile and web apps
Common Qualities of Bad Entrepreneurs
Close minded, Poor leadership, lack of focus, inflexibility etc.
What are some of the common individual small businesses?
Home-based child care, tutoring, elder care, private chef
What should people know in advance so they don’t have to pay the costly federal income tax?
Their state’s tax rate
What are social startups also referred to as?
Altruistic entrepreneurship
How much do buyable startups usually sell for?
$5 million to $50 Million
Why is location so important for starting a business?
Parking, nearby housing for employees and customers, longevity reasons, how easy materials are to get,
Where should people start with what they are selling?
With passion. They should be confident in their product because of the passion and interest they have for it
How can business owners stay organized with their cash flow?
By being quite strict on where the money is going and where it is coming from
What are the three categories of social entrepreneurship?
Leveraged Non Profit, Hybrid Non Profit, Social Business Venture
How are buyable startups funded?
Funded by the founders, use crowdfunding or angel funding
How can you diversify your client base?
Providing a variety of services to people outside of your regular client base through customization.
How do you see the difference between growth and quality?
It is important to have your business scale up without letting go of certain qualities that made the business successful at the start.
How can someone diversify their client base?
If the customers come from one pool of people then it is time to generate new clients and work to create deals and services for other customers.
What is social enterprise?
A business is making a profit and doing good for a community
How much time does it take founders to create a buyable startup?
With the rise of technology and mobile apps, creating a program to later sell does not take very long depending on level of IT expertise
Not hiring early enough, not getting enough outside help from advisors/consultants, not getting enough help on the business side