Category Archive : Entrepreneurs

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Does owning a Business make you an Entrepreneur?

Simply because you own your own business (or aim to do so) will not make you an entrepreneur. This concept may surprise readers at first, but we assure you that it makes sense as we begin to open the layers.

What is the difference between being a business owner and being an entrepreneur? Nowadays, the terms are mainly used synonymously. However, slight variations in mindset and approach distinguish business owners and entrepreneurs.

Neither role is superior to the other; they are different from one another. The definition of a business owner is relatively simple. They clearly understand their target market, and they want to serve their customers while making a profit.

entrepreneur vs business owner

These experts own businesses, make money from them, and are in charge of the organization. People who choose to lead enterprises are most often motivated, passionate, and goal-oriented.

While entrepreneurs share many similarities, in simple terms, entrepreneurs are typically more concerned with their concept and the impact they hope to make companies themselves.

They are not linked to any particular method of doing things. They look for the next great project to work on once they’ve succeeded in improving their objective.

Furthermore, their business ideas may be riskier, but entrepreneurs must accept all of the benefits and drawbacks of their projects. Although, entrepreneurs typically have fewer resources and must find creative ways to raise resources to cover their creative projects.

How are Entrepreneurs and Business Owners different terms?

Even though both entrepreneurs and business owners are professionals at running organizations, they differ in meaningful ways. Let’s discover some of the most significant differences between these two types of business experts.

1. Frequently Take more Risks than Business Owners

Entrepreneurs are rarely comfortable with the current status of their business. Instead, they want to create better products, expand into new markets, and make a considerable impact as quickly as possible.

As a result, they take more risks than small business owners. Although entrepreneurs are admired for their willingness to take risks, the risk factors they take are far more defined than you might think.

They rarely take risks blindly. Entrepreneurs understand how to weigh the potential benefits and drawbacks, and they are willing to take risks if it means getting reasonably close to their targets.

Small Business Owners Are Less Technical Than Entrepreneurs:

Regardless of the type of company they own, small business owners are less analytical than entrepreneurs. Business owners commonly concentrate on the more practical aspects of running a business, such as predicting profits and calculating profit margins.

In contrast, becoming a successful entrepreneur typically involves technical skills and a desire to use knowledge to create value. As a result, many entrepreneurs develop into passionate leaders willing to share their knowledge and skills with others.

2. Focus on Growth and See Their Company as an Asset

Entrepreneurs are known for focusing on growth and viewing their company as an investment. Few entrepreneurs set out to start a business to keep it simple and manageable. Instead, most people are concerned with expanding their businesses to produce as much as possible while making the most money.

Entrepreneurs who pursue this growth mindset see their company as a valuable asset to nurture and sell. While some entrepreneurs want to sell their companies at a higher price, others prefer to own their businesses.

Those who enjoy the factor of ownership usually set up their businesses to run on their own.

Conclusion:

To summarize, successful business people implement a tried-and-true concept, take calculated risks, and grow their company gradually. They run businesses to earn big and doing something they enjoy, gaining more independence, or making more money.

Entrepreneurs, on the other hand, are motivated by a desire to embrace change. They have their untested ideas, and they are willing to take risks to pursue them. Entrepreneurs frequently want to make a significant impact by finding new ways to expand and overgrow.

Again, neither role is more important than the other. Business owners and entrepreneurs create change, capture life by the horns, and live life on their terms.

For More: How to become an entrepreneur without money

become an entrepreneur without money

How to become an entrepreneur without money?

Do you want to start a business but have no resources to do so? Then you must know You can start a business without any investment if you have a creative business idea or a real concern product. We’ll go over some of the important skills of how to become an entrepreneur without money in this article.

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Ways to Become an Entrepreneur without Money

1. Create an effective business idea

Business ideas to become an entrepreneur are essential. No one can start a business without first having an idea because everything is generated twice. The intellect comes first, followed by the physical environment.

You might come up with business ideas through solving issues or meeting the needs of others. For example, if consumers are having trouble reserving taxis, firms like uber can be created.

The larger the problem you address, the larger your business will become.When people had problems with horses, Henry Ford created a vehicle for them and their neighbors.

You can also meet the need of others around you. If people have an issue with toothpaste, for example, create a better version for them.

2. Create a business plan

Only a well-thought-out strategy can help you turn your company ideas into reality.

A business plan explains your company’s method and model, as well as its revenue strategy and growth model. Make a detailed list of which business model you favor.

 Explain topics like the sort of procedure to use, how to expand your firm, and how to create money in detail. Your company strategy should be easy to comprehend while still being extremely successful.

Make things as simple as possible, that’s what the best entrepreneur does. This section is very important if you want to learn how to become an entrepreneur without spending any money.

3. Market and competitor research

One of the most highlighted ways to become an entrepreneur is you must do market and competitor research. Knowing your market is critical in business. It will assist you in gaining a better understanding of your target market and the demand for your products or services.

Entrepreneurs do market research for their goods or services. It aids them in understanding the marketplace and the extent to which they may expand by meeting client needs.

If you can accomplish that, you will be able to compete with your industry’s competitors. Investigate your competitors as well. Concentrate on what their consumers don’t like and create a better product or service for them.

You may compete with your competition by outperforming them in all areas.

The importance of achieving world-class customer satisfaction cannot be overstated. How to become an entrepreneur without money involves research about your market and competitors.

4. Scalability

You must create a business plan that can simply be scaled up or down as the need arises. It is, without a doubt, one of the most important steps in becoming the best entrepreneur and self-employed business person.

Only then will your company be able to grow and benefit from increased client traffic and income.

You may grow your business on a local, national, or worldwide level, depending on your business and the area you want to serve. If your current strategy isn’t scalable, it’s a good idea to reorganize it to avert disaster.

5. Prospective investors should be identified

When it comes to learning ways to become an entrepreneur, you should be aware that cash is required to start any firm, no matter how little or large, in any geographic location or domain.

You can look for private or institutional investors. They could be willing to lend you the money you need in exchange for a percentage of the profits.

You can sell some of your company’s stock. Private equity, venture capitalists, and angel investors are three categories of investors.

But keep in mind that if you don’t have a solid and credible business strategy, no investor will be interested.

6. Get an Investor

Investors provide capital to the best entrepreneurs. They make money by selling stock in their business. In other words, they raise funds by selling a portion of their business.

Investors are divided into three categories.

  • Angel investors
  • Venture Capitalists
  • Private equity

They all invest in businesses and give financing to help them expand and scale throughout the world.

Conclusion

So now that you’ve learned all of the key stages of how to become an entrepreneur without money and starting a firm, you must follow each of the processes listed above.

There are several ideas to become an entrepreneur or start a business without spending any money. Entrepreneurs are those who make a path where none exists. You must be prepared to receive several rejections and be at ease with being uncomfortable.

Entrepreneur weston hill

The Basics of The Tax Industry with Tax Professional and Entrepreneur Weston Hill

One of the very common questions before tax professionals and accountants is “What cost or expense is deductible?”. Most trade or business expenses are tax-deductible. This means they may be used to reduce your gross revenue to net income and hence reduce your taxable income.

A good rule of thumb is that the cost or the expenses will mostly be deductible if it has a solid business purpose. Here the word solid or legitimate is quite operative. 

Just because something might be deducted from your tax return does not mean that it is a good idea. Remember that in many cases, to have the deduction, you have to spend money. Hence, taxes remain a part of the decision to incur the cost or expense in business. 

The Issue Of Depreciation

Another very common but very complex issue is that of depreciation. On the basic level, this question becomes: when may I deduct certain costs or expenses? Mostly the cost or expenses will then be written off in this year in which the business pays for their item. It is called expensing the cost.

But if an asset has a quite useful like of over a year. It will then be considered a capital asset and will also require to be written off over the useful life. It is called the depreciating of an asset or, in a few cases, amortizing the asset. 

Dictation of IRS

You must also beware that the IRS dictates the useful like of even more assets by placing them into their classes. Capital assets don’t include the case of paper bought on December 23 by this business through the end of March.

Its cost must be expensed in the year it is bought. Furthermore, the depreciation of assets must not apply to small, insignificant purchases; none, including the IRS, expects you to depreciate the cost of the stapler then.

Most businesses will then set a dollar limit for items that will be expensed rather than capitalized or deprecated. For a smaller business, $100 to $300 is reasonable. 

No discussion of the capital assets and depreciation is complete without mentioning the useful tax tool called Section 179. Most people often don’t have a sound idea of tax deposits and why one should have them done. But due to many causes, one must be able to grow their part up using the laws of taxation and tax authority. 

What is included in a startup expense total

A short distance of startup and organizational expenses incurred due to new businesses may be helpful. Startup expenses may usually include but aren’t limited to: the cost of travel, education, trade shows or training seminars, building costs, and supplies or materials required to get the business started. 

Organizational fees include the costs linked to forming or creating business. Fees paid to get licenses, and accounting or legal fees for the formation of an entity. 

A new business owner that wants to attend a trade show may form her business before paying for a trip and trade show fee. That is mainly because she would have to write off $3,000 over 15 years if she incurred the expenses.  To know more about him and his expertise must listen this audio.

Entrepreneur Weston Hill

About Weston

Weston Hill is the owner of The Tax Bizz, which is a tax company that offers Tax Software, Mentorship, Tax Software Training, Tax Courses, 1 on 1 consulting, Marketing Training, and more.

To learn more about Weston, visit https://linktr.ee/TheTaxBizz

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The 3 Step Startup Journey as an Entrepreneur

Having a new business is one of the most aspiring moments of one’s life. It is the point that is full of hope and spirit—but being an entrepreneur, and you won’t like to fall into any mishaps. That is why we have set up the following 3 step startup journey that may help you do everything just right. So let us begin with the steps of the startup journey as an entrepreneur. 

Startup Journey as an entrepreneur

Permission:

Many people who haven’t been businessmen might get scared off by the myths and hype that comes with starting the business. They will talk about it. They may even go to gatherings and seminars or watch motivational videos online. They will dance around this subject for so long that they may gather enough reasons to launch their enterprise unless they can. 

Being a new entrepreneur is the biggest hurdle of joining the startup movement is not the business planning or even the issues of tuning. It is that people will not permit themselves to try. Allowing yourself enough permission to try, perhaps even to fail at any point, is the key to taking the next steps. 

Permitting yourself to begin your small step, move slowly, and start with your requirements and values. Being an ageless entrepreneur, you may feel a huge sense of self-empowerment. After all, you have worked for the initial half of your life, most likely for anyone else. Hence permitting to be your boss might be easier than you assume. Older entrepreneurs have a unique perspective. Startup entrepreneur must keep all his eyes open to know where he is heading and the consequence she is about to face.

Planning:

Once you have allowed yourself the permission to pursue the ageless startup, do a bit of planning that lays out your goals. For older entrepreneurs, the joy of planning everything out is that you don’t have to put a fantasy growth scenario. This is done to attract investors and also to take your company. If you wish that kind of business, you will have to expand the research significantly. The huge majority of the entrepreneur will create certain business plans that support us as individual as solo businessmen. 

Practice:

You have to start thinking of the new and emerging enterprises as practices. Think of the law or medical practices, or accounting, tax, or consulting practices, among most examples. All of these share a bit in common with the new startup. They are deeply rooted in the day-to-day practice of using the unique skill set you have. Being a startup business, you will also benefit from this new economy by keeping yourself to this level of professionalism. 

Professionals that operate in the business mostly continue to practice. They improve, innovate and grow. They also continue to find new ways to add value to their customers. A startup journey as an entrepreneur will be tricky and hard to tackle, but you will always keep growing and keep learning how to stay afloat. 

This is the 3 step Startup Journey as an entrepreneur formula that helps any businessman improve their professional journey. A startup entrepreneur keeps himself quite thoughtful and also steps up by keeping his all eyes open. 

You can also check out more Kidpreneurs Stories.

Here is our Daily Motivational Quotes.

Soul Singer and Entrepreneur Casmè Host Sold Out Concert in New Orleans

On May 31st, 2021, New Orleans, LA based music artist and entrepreneur, Casmè hosted a sold out “Soul Sistas” concert along with artist Tamara Jade at Cafe Istanbul  in New Orleans. The two ladies and  The Voice alum, connected while filming the show last season, and have stayed in touch ever since. 

The event started off with performances from other local artists who opened the show, then led to Tamara Jade who tore the house down with her original pieces, and soulful medley. Casmè closed the night off with original music from her catalog that spans over 20 years. One of the highlights of the evening was the Second Line dance that Casmè led to her song “Nola Step.” For those who aren’t familiar with Second Line, this is a popular New Orleans dance that is done in celebration of something.

 The New Orleans Powerhouse is known to captivate audiences with her bubbly personality, sultry voice and energy, that can light up the darkest rooms. When asked for her thoughts on the event Casmè stated:


“It was a sold out sensation! I could not have asked for a better event!”

This event was full of good energy and food, as guest were able to chose from two black owned restaurants that were setup outside of the event.  

After the excitement and great feedback from this recent event, it’s given her more fuel. Making her very excited for the future to come in her live singing career. Her next live concert will be held at Café Istanbul on June 30th.

About Casmè 

Traveling the world as an entertainer and philanthropist, this star striking vocalist recently released her newest collection of work titled, “GUMBO”. Which includes over 40 records from all genres of music including Soul, Funk, Blues, Jazz, Hip Hop, Folk & Pop. For the past six years, CASMÈ has been Ranked #1 on Major Music Platform ReverbNation, as well as the Winner of many talent competitions including ESSENCE Fest & NOMS 2019 “New Orleans Music Showcase”,  Arthel Neville’s “Sing Like a Star” and more. 

She is a former singer for many major artists such as BoB, Trina Braxton, American Idol’s Kimberly Locke, Keith Urban, Carl Thomas, Aaron Hall, Lil G(Silk), Tony Toni Tone’ and more whom have all influenced her musical style.

Through her rigorous work effort and vast talent, she has landed many major opportunities to perform locally and worldwide including Essence Fest, Jazz Fest, News With A Twist, Jazz In The Park, WWLTV Morning Show, Walmart’s Music Commercial “The Receipt”, Steve Harvey Morning Show, 106&Park, Wendy Williams, Jimmy Kimmel, Jay Leno, The View and more. 

To learn more about CASMÈ and “GUMBO”, visit her online at https://www.iamcasme.com/ and her social media page – Instagram – @iamcasme

Musician, Professor , Entrepreneur and True Idol—Meet Alain Merville

Husband, father and true pioneer in the music and business worlds—Alain Merville is a generational pioneer. Founder and CEO of YousicPlay, music professor at Berklee College of Music and director of operations for Sugar Babies Inc., gives us an insight on how he has gone from the student to master. 

Starting Piano at the age of 14, Alain fell in love with the concepts of music. After a year of private lesson’s from his mentor, Alain was invited to mold his talents on the road. Being the only key player and fresh into the music world, he witnessed firsthand the challenges that awaited him. Feeling he was not the best but possessing a great work ethic toward the endeavors he felt passionate about. Practicing nearly 8 hours a day developing himself until gaining interest in Berkeley College his senior year.

Coming into music at a later age rather than the “typical” age, Alain attended Berkelee College of Music, the number one contemporary music school in the world and had a most humbling experience. Exposing him to things he would have never been exposed to had he not ventured onward. Challenges are more so opportunities to him, while learning the business and education aspects of music, he embarked on a journey of connecting with individuals doing the things he wanted in life or had interest with. Berklee was the one place in the world at the time where he could be connected with people who were great in the areas he learned in. This is what he had to say on the cultural standpoint at Berklee, “From a musical standpoint there’s a heavy black culture, outside of politics which I typically don’t get involved in. Whereas most schools focus on certain styles or genres, Berkeley is a pot of different styles, from Hip-Hop, Choir, Jazz, and many more styles containing different ethnicities and cultures.”

When asked in an interview with Historically Black Since, “What is YousicPlay”, this is what Alain had to say, “So YousicPlay is a music e-learning platform where music students, and music enthusiasts can learn music from any level, from celebrities, influencers to elite level college instructors along with an AI (Artificial Intelligence) that functions as your own virtual tutor. The vision was really providing musicians with a platform that gives you direct access to the best musical minds in the world. Also the benefit of an in-person experience, because in person, you get the benefit of immediate feedback from your instructor to let you know how well you’re doing. On the recorded courses, there’s no accountability to let you know how well you’re doing so we wanted to provide the best of both worlds. So that’s the vision behind the AI aspect of it, which communicates with you and lets you know how well you’re doing from from exercise to exercise.”

This is an amazing platform if you wish to level up your music skills!

To learn more about Alain and Yousic, visit him online at  https://yousicplayacademy.com/p/advance-gospel-keys-master-class  and his social media pages – Instagram – @alainmerville and Instagram: – @yousicplay 

Gil and Renee Beavers

Meet Gil and Renee Beavers, the Power Couple Inspiring Singles and Couples Around the World

Gil & Renée are the hosts and creators of the Rich Relationships Podcast,  Book and coming soon the refuge. They have a couple of desires to provide the tools, principles, and community needed to grow and change. Their passion is to aid individuals in building, repairing, and restoring relationships that matter.

Rich Relationships with Gil & Renée is launching their self-paced “Rich Relationships Refuge,” which is a safe place for single and couples to change and grow. This group course is community-centered and private.

Gil & Renée have been featured on CBS, NBC, TBN, Atlanta Live, HOT 108 FM,  the Huffington Post, and  LV & Sheen Magazine.

Listen to the full interview below to learn more about this power couple

Gil and Renee Beavers

Click the link below to learn more about the new course
http://www.richrelationshipsus.com/

Their Instagram has a growing following of over 28K. Follow them to get the latest updates!

https://instagram.com/richrelationshipsus?igshid=xydk7cit8gik

5 Things Every New Business Owner Should Know

5 Things Every New Business Owner Should Know with Attorney David M. Walker, ESQ

David M. Walker, ESQ is a Detroit native who never imagined his life would be what it is today. Not only is he an entrepreneur, but he is also small business attorney. Working exclusively with start-up and small business owners to help them establish businesses, he has a passion for equipping entrepreneurs with the tools that are needed to establish capital and assert themselves in the modern business world. 

Through his hard work and drive, he has had a burning passion to work with entrepreneurs since 1998. This is what he had to say during an interview on Historically Black Since, “Before I became a business attorney, I graduated with a Bachelor of Science Degree in Mechanical Engineering from the University of Michigan. David is also the owner of Positivity Alkaline Water.  He stated “Ever since I walked into my first bottled water plant, I have been on a mission to build an efficient bottled water production and recycling facility for black communities.”

You can never have enough facts, but there are five secret tips every business owner should know when they are first starting out :

Tip 1 :Shift your mindset from employee to business owner 

3-8% people Americans get their money solely from their business. Meaning they don’t get a check from anyone or anything else , but their business. There is risk involved in it. You have to take risks to be a business owner. Most people don’t know about the stats. People know about many things that don’t have to do much with business. You have to think differently. You can’t think the same way you did as an employee, while being a business owner. You have to always be thinking of innovative ways to bring more money into the business , and not always worried about have them expenses. Focus on driving more revenue into the business, and let the expenses fall where they may

Tip 2: Learn how to manage your time

As an entrepreneur you are in control of your time. Although it may seem easier said then done, what many people fail to realize is that managing your time as an entrepreneur can be harder then when working for someone else. As an entrepreneur, starting off, it can take you 12 to 16 hours per day to generate money, and get your business going how you need it, versus being an employee and only working for 8 hours. You may find you are constantly working overtime to bring money into the business. You don’t have weekends, holidays, or a a set time when you are off. Being an entrepreneur is a 24/7 lifestyle.

Tip 3: Focus on your strengths and Hire your weakness

As a a business owner, you can’t do everything on your own. Just because you know how to do something doesn’t mean you should. Focus only on your strengths and income generating activities. Don’t be afraid to delegate.

Tip 4: Networking

Spend more time around other business owners to help grow your business. Don’t be afraid to meet new people, but pick with who and where you allocate a lot of your time

Tip 5: Securing Money

There will come a point in your business where you will want to seek outside funding. You will have to get more money, whether it be from investors, the bank, or friends and family. This can easily be achieved  if you can answer the following four questions.

• What do you do?

• Why are you good at it?

• How much money do you need?

• What does an investor get for it?

If you can answer all these questions, and you can gather money from anyone and from any source. Trigger the greed factor. Be prepared to answer all the questions that an investor is going to ask.

To Learn more about Attorney David M. Walker, ESQ visit: http://davidmwalkeresq.com/

To learn more about StarWalker Industries visit the link below