Posts Tagged: "Business"

What Inventors Can Learn from Skateboard Icon Tony Hawk

What do high-end jeans have to do with skateboarding? Nothing. Do you think it is a coincidence that Hawk failed at this business? I do not believe it is coincidence, and I really don’t believe in coincidences for the most part. Yes, coincidences do happen, but repeated coincidences cease to be explainable as coincidence and cross the threshold into causative. Time and time again I see people enter businesses they do not know, they have not taken time to learn and the outcome, at least in my experience, is universally uniform — ending in failure. I can say this not only through observation, but also through experience. Perhaps my greatest business failures have come in areas where I didn’t thoroughly know the industry. Tangential knowledge, hard work and dedication can cover up lack of specific knowledge and allow you to convince yourself you can do it, and what happens is you just convince yourself to stay the course longer than you should and lose more than you should. Sticking to what you know doesn’t guarantee success, but it does make it more likely.

Choosing The Right Corporate Structure For Your Business

In recent years the Limited Liability Company, which is typically referred to simply as an LLC, has become the darling of entrepreneurs and small businesses around the country. But the LLC is not always the best choice. Sometimes a Subchapter S corporation or another structure is preferable. This article helps you choose the right structure for your new business. Determine…

Domino’s Video Offers Food for Thought for Businesses

This past spring, a series of prank videos from a couple bored Domino’s employees captured the worldwide attention of the public and the media. Before they were removed from YouTube, they reportedly garnered a million views. In these videos, an employee put cheese up his nose, and farted and sneezed on sandwich fixings he was handling, while the narrator described…

Don’t Send the Wrong Message

Many times inventors and entrepreneurs will unwittingly price products at a point where they are sending the wrong message.  Virtually everyone who has their own business, whether they are selling a product or offering a service, has fallen victim to the same problem at one point in time or another.  When you are starting out it is tempting to offer…

McDonald’s Burgers & Burger King Fries

I would love to open up my own business selling McDonald’s Burgers and Burger King Fries. But such an endeavor would probably be so costly to “do it my way.” But I have to give Joey credit. He’s quite innovative for an 11 year old boy.