Tips to Be a Successful Entrepreneur in the Hospitality Industry

Entrepreneurship can be a challenging road. Starting a venture in today’s hospitality industry, which has been thrashed by the COVID-19 pandemic over the past 2+ years, can be a particularly bumpy road.

Restaurant business

However, armed with the right preparation and knowledge, you can enter an entrepreneurial endeavor with the best chance of taking your idea all the way through to success.

Craft Your Self-Care Strategy

Many successful entrepreneurs look back at their careers and acknowledge how their workload took a toll on their physical, mental, and emotional wellbeing. Entrepreneurship requires a lot of anyone who steps into the ring. However, some business owners eventually realize that forsaking or ignoring their personal health and wellbeing didn’t get them any farther, and in fact usually caused detriment or even harm they eventually had to rectify.…

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Increasing Your Potential as an Entrepreneur

Having a dream to start your own business is one thing, but turning that dream into a reality is a completely separate entity and one that can come with some challenges. It often isn’t easy starting your own business from nothing, and it can take some time before you start seeing revenue, but it’s a dream worth pursuing if you’re determined enough and if you keep sight of your end goal.

Salon owner

Create a Business Plan

Every successful business started with a business plan. A business plan is something that outlines how you’re going to go from a brand new start-up to where you want to see your business in five years, ten years, twenty, and so on.…

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Can You Teach Entrepreneurship to Your Kids?

You want to do the best for your kids, to give them the skills and knowledge they will need to be successful entrepreneurs. It can be done, but the education system is not much help so you have to do it yourself.

Entrepeneurship guide

Entrepreneurship image from Pixabay

Is education a waste of time? No, but it is often irrelevant to becoming an entrepreneur. Schools never teach the knowledge, attitudes, and skills that are the foundations of entrepreneurship

Knowledge

Your son or daughter needs an understanding of business principles, the stock market, and politics.

Business Principles

The concept of profit as opposed to selling price can be a tricky one.…

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The Fabulous Perks Of Being A Female Entrepreneur

So, you’re a woman in business or a woman who wants to enter the ring? We’re sure you’ve gotten lots of advice – some downright disheartening and some pretty encouraging. Just know; there has never been a better time for women to close deals in the world of business than now.

Female entrepreneurs

photo credit: Alexander Suhorucov / Pexels

It makes sense: women are well-suited for entrepreneurship. Just think – even though society still has a long way to go before reaching gender equality, women are prospering as entrepreneurs.

In light of the aforementioned, more female business owners are cropping up. Most of them have experienced the type of success you’ll want to follow.…

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5 Nuggets of Wisdom From Wilbert Wynnberg to Aspiring Entrepreneurs

There’s a common saying that “Nothing worth having ever comes easy”, and entrepreneurship takes that to the extreme.

Busy entrepreneur solving problems

Unlike what’s shown on social media, entrepreneurship is not all about the supercars, luxury brands, and vacations in exotic locations. Entrepreneurs spend years, maybe even decades of their lives starting and building their business, and even so, can still fail and be left with nothing at any point of time.

Of course, it is extremely rewarding to endure the hardships and emerge as a successful entrepreneur who has made an impact on others’ lives.

Wilbert Wynnberg is a Serial Entrepreneur, International Speaker and 4x Bestselling Author.…

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7 Things Entrepreneurs Must Do to Grow Their Business

The essence of any successful business is a smart entrepreneur leading the company and all its teams. Nowadays, all businesses present in any market are pretty competitive and are in a constant battle to grasp the consumer’s attention and increase their profits.

Entrepreneur working on her business

In order to succeed in their relevant markets, entrepreneurs need to work harder than ever to ensure their businesses can thrive and shine in the crowd. Here are some of the most essential things any entrepreneur needs to do in order to grow their establishment and take their work to the next level.

1. Read and Do Research

In order to manage any business successfully, it is essential for entrepreneurs to study hard in advance and do their research.…

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Things Entrepreneurs Should Know When Starting Your Small Business

Starting and running a business is often overwhelming, especially for first-time entrepreneurs and employed individuals looking to escape the 8 am-5 pm employment. Most people venture into businesses in a bid to enjoy the freedom and flexibility of not working every day in confined offices, not reporting and adhering to strict rules, and the potential of making endless profits.

Young entrepreneur thinking

photo credit: Christina @wocintechchat.com / Unsplash

Unfortunately, despite the relief brought by starting your own business, the entrepreneurial journey is stressful and challenging. That said, take note of the following factors before starting your small business.

Identify the Nature of the Business

Identifying the nature of your business is the first step to a successful business idea.…

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Reasons Entrepreneurs Need to Consider Psychotherapy

Being an entrepreneur is definitely not an easy job. Opening your own business comes with its fair share of risks and uncertainties. Regardless of whether you’ve had your business for a while now or are just starting out with something of your own, the journey can indeed be daunting.

Entrepreneur consulting with a psychotherapy

Amidst all the planning, sleepless nights, financial investments, and overall stress, it’s very easy to lose your mental sanity in the process. That’s why you need fellow entrepreneurs to create a support system. But what if you’re overwhelmed and want to deal with this with a specialist?

Enter psychotherapy. It serves as a good and healthy route for every entrepreneur out there.…

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9 Key Traits of Innovators and Entrepreneurs

Some people described an innovator as quite narrowly. They say that they are not very creative if they don’t invent things and hold multiple patents. Many inventors have no products or patents, in fact. Many innovators create innovations, some bring them into action, while others are advocates, founders, and supporters of good ideas.

Elon Musk in a Tesla

photo credit: Automobile Italia / Flickr

When you think like that, you can know that you are a creative person.

Regardless of the position, big innovators share certain qualities. You may have to give yourself more credit if you consider these qualities in you.

These are the characteristics to develop if you want to become a global innovator.…

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4 Key Factors on the Path to Maximizing the Value of Your Business

In business, maximizing value is the name of the game. When strategies clash, though, how are small business owners to know which path is right for them? Shareholders face novel problems today, including significant SKU proliferation, rapid technological evolution, cybersecurity threats, international trade wars, and the appearance of entirely new industries tangential to their own, among myriad challenges.

Business owners on the battlefield must navigate this shifting environment in order to maximize their value. A very basic framework to help think through these challenges is the “buy, hold, or sell” model. Specifically, at any given point for any decision, an owner or manager has only three options: buy (invest more), sell (divest), or hold (maintain the status quo).…

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