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Starting a Business in 2023? Here’s What You Need to Know

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Thinking of starting a business this year? You’re in good company. In fact, 2 out of every 5 Americans plan to launch their own business in 2023. Of those, 32% will live the entrepreneurial dream for the first time. If you’re new to business ownership, there’s a lot to consider, but don’t let that put you off.

We’ve got the tips you need to start the year (and your new business) off right.

Business funding
photo credit: Karolina Grabowska / Pexels

Find Funding Right Away

One of your biggest questions before you begin is likely, “How am I going to pay for this?” Depending on your personal finances, you may be able to self-fund part of your business’s startup costs, but you’ll probably need some (or a lot of) support along the way. Wondering how to secure funding? Let’s dive in.

Grants

Everyone wants free money, but be warned: The competition for business grants is fierce. Grants don’t have to be repaid, but the application process can be tough. However, it’s always smart to look for grants for which your business might qualify. Check with the U.S. Small Business Administration and your local Chamber of Commerce and other nonprofit organizations that support small businesses.

Traditional Loans

Bank loans are a straightforward way to secure funding for your new business. However, you still have to go through the approval process and find a repayment plan that works with your current finances. To get the best rates and ensure approval, it helps to have registered your business as a legal entity (more on that in a bit), to have a dedicated business checking account, and to have evidence of clearly separated business and personal finances.

Small Business Credit

Similar to a credit card, a small business line of credit allows you to borrow a certain amount and repay it over time. Like a loan, you’ll have to go through a similar approval process, but be aware that interest rates aren’t always as favorable, so you may end up paying much more.

Investors

If you need a lot of funding you don’t want to pay back and are willing to share profits or give up an ownership stake in your business, you could look for an angel investor or venture capital fund. There’s a lot of competition out there, so you might benefit from looking into platforms that pair startups with investors, such as FundersClub and Wefunder.

Crowdfunding

Crowdfunding takes your great business idea directly to the people. You can start by simply asking friends and family for support or using a crowdfunding platform like Indiegogo, Patreon, or SeedInvest.

Protect Your New Business With a Legal Entity

Once you’ve made a plan to fund your business, it’s time to take one of the most critical steps in making your business legitimate: filing for a legal business entity. While it isn’t technically a requirement — and you can operate your business as a sole proprietor without a legal structure — it’s always the recommendation for new business owners. Why? Because registering your business comes with many benefits, including:

  • Liability protection that keeps your personal assets safe
  • Ease of securing funding, business bank accounts, credit cards, and more
  • Protection of your privacy and personal information
  • Legitimacy that makes your business more trustworthy and appealing

While you can choose the business entity that best suits your needs, the most common is an LLC. It’s valued for its flexibility, cost-effectiveness, and low compliance requirements. There were 5.4 million business formations registered in 2021, the most recent year on record — more than any other time in history.

Business brand building

Start Building Your Brand and Online Presence

Your next step to get closer to launching your business in 2023 is to focus on creating a brand that is trustworthy and recognizable. And, of course, the best way to do that is to create an online presence.

Conduct Research

First, you’ll want to learn as much as you can about what you’re getting yourself into. For most businesses, that means digging into the research on three key areas:

  • Your customers
  • Your market
  • Your competitors

The best way to start your research is online. Search for trends in your industry, follow the competition on social, and pay special attention to what customers are saying about these rival brands.

Protect Your Brand

You’ve already made a huge step in reducing risk by filing as a legal business entity, but there are other ways to keep your brand from being poached by competing businesses. Look into registering a trademark for your name, logo, or even slogan. A trademark is the only surefire way to keep other businesses from using your intellectual property.

Build Your Website

Recent data shows that 71% of small businesses have a website. It doesn’t matter if you’re planning on an ecommerce business or not — to really thrive, you need a website. Websites help your business get found, build your reputation, and help your business succeed. You don’t need to hire an expensive developer, though — you can typically DIY your website with a platform like Wix or Squarespace.

Get Social

Just like having a website, being on social media is a must. One of the key ways to get new customers is to hang out wherever they are. And in this digital age, that’s on social media. Choose the platforms where you’re most likely to find your ideal customers, then see how your competition is engaging with them.

Entrepreneur learning growth strategy

Stay Up on the Latest Swings in the Economy

To ensure your business’s success, you need to stay ahead of the forecasts for the economy in 2023. Nothing says you shouldn’t start a business in the year ahead, but it pays to be prepared. For 2023, the Harvard Business Review is predicting a bumpy ride, thanks to inflation, high interest rates, and overall uncertainty.

While growth is forecast to be sluggish, markets are still up, and actions taken by the federal government could work to reduce inflation and retain jobs, putting the U.S. on a trend toward economic recovery and growth.

There are plenty of uncertainties that come with starting a business, but there are countless benefits as well. With the right planning and preparation, you can make 2023 the year you achieve your entrepreneurial dreams.

Entrepreneurship

All the Mistakes that an eCommerce Business Needs to Steer Clear of

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Your eCommerce business can be profitable, but only if you do the right things and steer clear of certain mistakes. In this post, we’ll take you through the latter so you can avoid them and raise your business’ chances of success.

Ecommerce

1. Failure to identify the target audience

Every successful eCommerce business knows its respective target audience in and out. However, to get to that stage, they had to conduct thorough market research. This gave them a deep understanding of whom the members of their target audiences are along with their likes and dislikes.

However, if you don’t spend time and resources on understanding your target audience, your eCommerce business will very quickly fade into oblivion. Identifying your target audience is vital, as it will allow you to pitch your brand in a way that your target audience will find persuasive.

2. Copy-pasted product descriptions

Your eCommerce business may be selling high-quality products, but it’s not just product quality you need to concern yourself with. The written descriptions of your products matter as well. It’s easy to copy-paste descriptions from other websites, but this can lead to punishment from search engine algorithms.

Nowadays, search engine algorithms prefer pages that have unique content. Quite simply, if your product descriptions are redundant, the product pages won’t rank on search engine results pages (SERPs). That’s why it’s important to hire SEO professionals to write unique descriptions inclusive of target keywords and phrases that your target audience is likely to use to search for your products.

3. Unresponsive page design, especially on mobile

Unresponsive page design can break your eCommerce business. While creating responsive pages is important for desktops and laptops, what’s more important in today’s times is to create responsive pages for mobile devices. The fact is that the majority of eCommerce customers nowadays access eCommerce platforms from mobile platforms.

A great way to test your eCommerce business’ mobile website and app is to use the mobile-friendly test of Google. Through this test, you can identify exactly what’s wrong with your mobile website and app and what’s needed to improve on the weaknesses.

Ecommerce technical setup

4. Creating an entirely new platform when it’s not necessary

Due to eCommerce platforms like Magento and Shopify, eCommerce businesses can get up and running overnight. For most new eCommerce businesses, it makes sense to make the most of these platforms. Of course, you can set up a new platform, but the costs involved are far more than what you would have to shell out for a space on Magento or Shopify.

It’s also important to remember that most modern-day eCommerce customers prefer familiarity, i.e. they feel safer when navigational features, design, and shopping carts are familiar. So, unless an entirely new platform is your unique selling proposition (USP), why invest money in it when you can make do with existing platforms?

5. Search engine optimization errors

We’ve already touched on how copy-pasted product descriptions can work against your eCommerce business on the SEO front. Well, you can make some other technical errors as well, which can cost you dearly in terms of your search engine presence.

For instance, your website may contain links to non-existing pages or redirected pages. There may also be links on your app or website that lead to nowhere in particular. Before you make your website and app public, you should get everything tested. Errors on the SEO front may also ruin the experience of end-users.

6. Lack of substance in your ‘About’ page

Many eCommerce business owners don’t pay any attention to their ‘About’ pages. It’s easy to think that this page is only a formality. However, the fact is that most prospective customers in your target audience would want to know more about you and your business before they decide to part with their money.

So, don’t be afraid to tell them your story on your ‘About’ page. It doesn’t have to be sensational. As long as it’s honest and genuine, your target audience should be able to relate to it. On an emotional level, it can help them put their trust and faith in your business, which will serve as the encouragement they need to purchase your products.

So, that’s about it for now. As long as you steer clear of these 6 mistakes, your eCommerce business should be heading in the right direction.

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Entrepreneurship

Bitcoin ATM – Learn More About Quick Change Cash to Cryptocurrency

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Cryptocurrencies such as Bitcoins have become a global currency. They are well-known globally and more popular than traditional money, for example American Dollar.

Bitcoin ATM

This article will tell more about Bitcoin ATMS with zero commissions, how to change crypto to cash in a short time or how to find the most beneficial Bitcoin ATMs.

  1. Bitcoin ATM with 0% commission
  2. Bitcoin ATM can change cash on several cryptocurrencies
  3. How to change cash on cryptocurrency?
  4. Where to learn about bitcoin ATMs?
  5. Is it safe to use Bitcoin ATMs?
  6. What are the Bitcoin ATMs locations?
  7. What are the opening hours of Bitcoin ATMs?
  8. Where can you find some information on exchange rates?
  9. Where can you find some more information on Bitcoin ATMs?

Bitcoin ATM with 0% commission

When you want to buy and sell bitcoin you do not have to pay an additional fee in your area like many different bitcoin ATMs charge (even 8%). Every bitcoin ATM provides transactions with 0% commission. What is more, the clients can get various discounts and enjoy higher exchange rates.

Bitcoin ATM can change cash on several cryptocurrencies

Although Bitcoin is the most recognizable cryptocurrency in the world, there are also other cryptocurrencies worth mentioning. What is more, they are also available in the bitcoin ATM. They are the following: Tether (USDT), Litecoin (LTC), Tron (TRX) and Ether (ETH). The whole process – it means converting cash to your favourite cryptocurrency lasts a few minutes.

It is very intuitive and every user can change cash to crypto without any problems.

How to change cash on cryptocurrency?

It is very simple to use the Bitcoin ATM. It is similar to withdrawing money from a standard ATM. The first thing you have to do is to insert cash and then scan qr code. Next, you have to select the transaction details (exchange rate and transaction fee) and finally the cryptocurrency is transferred to your wallet.

It is childishly easy to use the bitcoin ATM. As an outcome, it is also popular in Ukraine where the war with Russia takes place.

Where to learn about bitcoin ATMs?

If you want to get some relevant knowledge on bitcoin ATM and how to buy and sell bitcoin and litecoin you should visit the official social media of bitcoin ATM. There is a tutorial for beginners who have never tried the bitcoin ATM and want to know what bitcoin ATMs are.

The popular social media where you can find the information are You tube and Facebook. Furthermore, it is worth watching it regularly to learn more about special offers or unique discounts for anonymous bitcoin buyers and sellers.

Is it safe to use Bitcoin ATMs?

The clients should feel safe during converting cash to cryptocurrency. That is why, the bitcoin ATMs are located in public places, mainly in the shopping malls where the advance monitoring system is provided. What is more, it is also possible to change cash to cryptocurrencies in independent places. However, in those places the doors are locked and the person who is doing the transaction can feel safe.

Bitcoin ATM
photo credit: Sharon Hahn Darlin / Flickr

What are the Bitcoin ATMs locations?

If you need to change cash to cryptocurrency, you have to see the bitcoin ATM map. There you can find all bitcoin ATMs in your area. What is more, you can get some interesting details about the bitcoin ATM. There is provided the name of the city with a detailed address as well as additional information on the bitcoin ATM. Moreover, you can find there also a picture of the bitcoin ATM and available funds to withdraw at the moment.

What are the opening hours of Bitcoin ATMs?

If you are in Madrid, the capital city of Spain you can check the opening hours of Bitcoin ATMs Madrid online. At the same website where you can check the location of a bitcoin ATM, there is some information about opening hours. The majority of bitcoin ATMs are open 24 hours, 7 days a week and they are available in the shopping malls or independent places. However, some of them are available in limited time.

That is why, it is always worth checking the opening hours before you visit the bitcoin ATM.

Where can you find some information on exchange rates?

The exchange rate is the crucial information when it comes to converting cash to cryptocurrencies. However, it is not a problem when you use the bitcoin ATMs. At the website where the detailed address and opening hours are provided you can also find some information about the current exchange rate.

It is worth selecting the place that offers the best exchange rate before you leave your house.

Where can you find some more information on Bitcoin ATMs?

Before you make a transaction at a bitcoin ATM, you should learn more about the bitcoin ATMs. You can do it at the official website of the device or at one of the YouTube channels where the latest information and detailed tutorial are provided.

You should also visit Facebook and Instagram where the latest news is updated and find out that there are more and more bitcoin ATMs in your location.

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Entrepreneurship

How to Hire The Best Excavator for your Construction Business

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How to Hire The Best Excavator for your Construction Business

Are you into construction business? If yes, then you need to go for the best tool hire. Hiring an excavator is a big decision and you want to make sure you hire the right one.

Here are some tips to help you pick the right excavator for your needs.

Excavator

What to Keep in Mind When Hiring an Excavator

  1. Know what kind of work you will be doing before hiring an excavator. Do you need a backhoe? A dump truck? An excavator?
  2. Check out the reputation of the company that you are considering hiring, including any complaints filed with the Better Business Bureau or other agencies. Go for reliable names like Boels. When you hire a reliable service, they leave no stone unturned to address your concerns in the best possible way.
  3. Ask around from other businesses in your area who have used this company in the past, or talk to people who have hired them in the past to get their opinions on the company’s service quality and professionalism.
  4. Consider the cost of hiring an excavator by comparing prices with others in your area who have used this type of equipment before, or by comparing prices with similar types of equipment owned by other companies in your local area (i.e., if there are several companies offering similar services).
  5. Don’t forget to ask how long they have been operating in your area before deciding on whether they are worthy of making. If the company has been in the business for long, then this means that they stood the test of the time and are capable of serving you by all means.
  6. Make sure the equipment you’re hiring is up-to-date. The newer models have safety features that can help prevent accidents, including automatic braking systems, seat belts and roll cages. Be sure to ask about these features before signing any contracts.
  7. Be sure to check out insurance coverage on all equipment you’re considering renting or buying. This can be found on the company’s website or through their local office. If there is no information available about insurance or if it doesn’t meet your needs, don’t rent or buy! It’s important that your equipment is safe and secure at all times during its use so make sure that you take this into consideration when looking at potential rental or purchase options.
  8. Ask your potential excavator to provide you with names and phone numbers of previous clients who have hired them to do similar jobs. This will help you get a better idea of what type of person they are, so you can make an informed decision about whether they’re right for the job.
Used excavator
photo credit: Dave Wilson / Flickr

Do keep all these tips in mind when hiring excavators. Make sure that you put up all the questions in your mind to the service. The benefit is that you will be in a position to hire an excavator that fully fulfils your business need.

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