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Startup Basics

Online Courses May Not Be as Valuable as You Hope

Too many aspiring entrepreneurs waste their precious time and money on online courses. I want to share a personal story, and explain what I believe a new entrepreneur should do instead of buying courses. My friend Mark had told me he wanted to start a side hustle business, but had not made significant progress. Recently, I asked him how his business was coming along and what he told ...

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3 Ways to Charge for Your Medical Claims Billing Service

Before you start your medical claims billing service, it’s important to determine how much money you can expect to make. Medical billing services charge their clients by three methods: percentage, per claim and hourly. The percentage basis is generally used by medical insurance billers (MIBs) who do full-practice management or a combination of patient billing and claims billing, and just as ...

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Use These 5 Steps to Create a Marketing Plan

In their book Start Your Own Business, the staff of Entrepreneur Media Inc. guides you through the critical steps to starting your business, then supports you in surviving the first three years as a business owner. In this edited excerpt, the authors explain the simple steps involved with creating a marketing plan for your new business. Everyone knows you need ...

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A 3-Step Startup Guide to Connecting With Consumers

A big part of launching a successful startup is building an authentic connection with users through the various communication touch points you have with them — social media, email, blog posts, phone calls, etc. These are all opportunities for setting the foundation for a long and happy relationship. You want this because it means a healthy Average Lifetime Value (ALV) ...

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Being Nimble Is More Important Than Being Right, and 4 Other Lessons I Learned Building a Successful Company

The journey to success is different for many companies. There are opportunities, pitfalls and shifts which need to be made to turn your ideas into a successful business. However, one thing that many business books don’t tell you is that the early stages of a business are a careful mix of vision and flexibility. And that how you implement this ...

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Pay Yourself: Why Founders Should Set Aside Profits Every Month

As the owner of a startup or growing business, it’s tempting to reinvest every dollar of profit back into your business. Many founders take the extreme path of paying themselves nothing until that magical future day when investors are repaid, the business runs in the black and they feel they have enough of a financial cushion to take a salary. ...

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Stop Worrying About What You Don’t Know and Just Focus on Opportunities

Entrepreneurs are ambitious problem solvers. In fact, they’re becoming so effective at what they do, incumbent firms have no choice but to stand up and pay attention — lest an energetic, insurgent start-up take too big a piece of the pie. A critical shift in mindset is at the heart of this success. Today’s entrepreneurs are de-emphasizing experience and expertise in favor ...

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4 Product Management Mistakes That Will Drive You Crazy

One of the hardest things I had to do when first getting started with my business was getting organized. Not having an MBA, the first year of leading my startup was the most hectic as well as the biggest ego buster of my life. However, after startup life punched me in the face, I took a step back and realized the ...

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5 Reasons Bootstrapping Your Business is the Best Thing You Can Do

Let’s be honest, fundraising is a major chapter in every startup’s success story. It’s one of the most exciting, terrifying, and rewarding parts of starting a company. Having a stranger write you a check for six or seven figures not only validates your idea, but it validates yourself as an entrepreneur. Clearly, others believe in you enough to put their ...

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