Everyone loves a good success story, and it's even better when it's a David and Goliath story about the underdog winning. But more often, contemporary entrepreneurs can learn more from history and studying strategies that fail—“Never get involved in a land war in Asia," as they say in The Princess Bride. Let's look at five of the most famous business failures in American history. What did these companies do wrong and what can you take away from their experiences?
The legend of companies like Apple and Microsoft starting in garages may have inspired generations of entrepreneurs to market the Next Big Idea, but venture capital money, technological resources and business opportunities aren't limited to Silicon Valley anymore. With the advancement of office technology, more diversity in office operations, and a stronger opinion among employees as to the importance of lifestyle, other pockets are opening up in the U.S. where startup companies are thriving. Here are snapshots of seven communities where entrepreneurship is thriving.
For most design work, you probably want to engage a professional graphic designer—no one wants to see an annual report or other vital documents look like they were cobbled together on a shoestring. But whether you are whipping up small items to use on your company's social media pages or simply want to express your intentions more clearly, it is a very good idea to invest some time in learning the basics of
Adobe Photoshop. Here are a few ideas to help you get started.
There have been a few dust-ups in the political scene in the last year where critics of current economic policies have claimed that
nine out of ten businesses close within a year. This is a myth. According to the U.S. Small Business Administration, about half of all new establishments survive five years or more and about one third of new businesses survive a decade or more. In fact, the probability of survival increased with a firm's age, as one would expect. So the numbers aren't against you. Yet while starting a business can be a fun and thrilling ride, you still want it to be a success. Here are some of the key factors that might be holding you back.