The Dangers of Falling In Love With Your Business Concept Too Soon

The first step in the process of planning your business is asking yourself if your business idea is a good one. Your business idea must be one of two things: something people already want but can’t get or something you can convince them they want. Many new entrepreneurs fall in love with a concept before

READ MORE

3 Fears Every Entrepreneur Must Overcome

Owners of Bradley’s and Knoxville Chocolate Company, Brad and Joy Hamlett, found themselves in a scary situation after purchasing a 100-year-old candy factory: Sales were flat but expenses doubled. “I just remember times when we felt like how are we going to make it? Something has to give,” said Joy. While the candy business might

READ MORE

Understanding Your Competitive Advantage

As an entrepreneur your competitive advantage must be front and center in your mind. It sets you apart and is essential to your business success. To understand and define your competitive advantage you need to know three things: your business, your customers and your competition. Through an in depth knowledge of your products and services,

READ MORE
5 Resources to make part of your #vetbiz community

5 Resources to Make Part of Your #VetBiz Community

We know business ownership isn’t a solo mission. So, this National Veterans Small Business week, we are celebrating you – the veteran entrepreneur – and your #VetBiz community. We have resources and support waiting for you to help your business succeed and we want to be part of your community. Here are a few programs that might be

READ MORE
Veterans Business Outreach Center at Pathway Lending logo

Entrepreneurship Resources for Service-Disabled Veterans

For the month of October, we’re focusing on service-disabled veterans who are current or aspiring business owners. The resilience of service-disabled veterans translates well into business ownership, and the U.S. Small Business Administration (SBA) recognizes service-disabled veteran-owned small businesses (SDVOSBs) as an integral part of the veteran business community. To prepare for business ownership, service-disabled

READ MORE

Ways to Fund Your Business: Bootstrapping

How to bootstrap your business Bootstrapping means starting or growing your business with the resources you already have, without the use of outside funds. Here is a helpful article from Intuit QuickBooks on how to bootstrap a small business. Methods of bootstrapping your business include: -Personal Savings/Debt Many entrepreneurs budget carefully to build up their

READ MORE

Ways to Fund Your Business: Find an investor

Why investors seek small business owners to invest in and the risks you’ll face If you’ve ever watched Shark Tank, you may think this is how investors operate. While investors are great when looking to fund your small business, typically, it’s difficult to maintain control over the future direction of your business. Investors buy ownership

READ MORE

Ways to Fund Your Business: Launch a crowdfunding campaign

Explore a modern way to fund your business in crowdfunding Crowdfunding is a newer form of funding that puts some excitement into raising money for new products and/or business ideas. This kind of lending allows for the account creator to gain funds by asking for the support of family, friends, and fans. Websites like Kickstarter.com and

READ MORE

Ways to fund your business: Apply for a loan

When and how to use a small business loan to grow your business The bank is the first place many small business owners go for startup capital or a line of credit to grow their business. Before you pursue an online loan or launch a crowdfunding campaign, talk to your personal banker to learn what

READ MORE