NEW! Business Tips
Entrepreneurs who are developing a product (product or process) for commercialization basically have two choices to get their product to the marketplace; manufacture it themselves or license the right to make and distribute to someone else. This process is called licensing out. A license, through a licensing agreement, is a formal granting of the rights to make and sell to another party, who is called a licensing partner. The entrepreneur, or licensor, is usually paid in up-front fees and ongoing royalty payments.
Just because you own and operate a small business doesn’t make you an entrepreneur. A study published in an issue of the Quarterly Journal of Economics revealed a key difference between being self-employed and an entrepreneur. Researchers found that a business’s legal status, whether it is incorporated or unincorporated, is what separates entrepreneurs from other small business owners.
Mission Creep. Merriam-Webster defines mission creep as “the gradual broadening of the original objectives of a mission or organization.” Wikipedia says it “is the expansion of a project or mission beyond its original goals, often after initial successes.” And, Urban Dictionary “mission creep happens when extra and often unnecessary details that [sic] are added to a project usually causing the project to spiral out of control.”
There are many different software options in the business world and google happens to be one of my favorites for many reasons. Today I would like to share with you some of those reasons with you and specifically focus on those that help us increase our productivity.
You want to open a business. You know almost exactly how much it will cost you to start; supplies, furniture, rent, utilities, etc. But, what about sales tax? As a new business owner, this will be one of the first taxes you will encounter once you start selling your product or service.
Business Tips Archive
The most current Business Tips article is available on the San Angelo Standard Times online newspaper The following Business Tips articles are provided for you in an Adobe PDF format.
- Seven Questions Asked in a Borrowing Situation
- Starting Your Own Business Part 1
- Starting Your Own Business Part 2
- Starting Your Own Business Part 3
- Starting Your Own Business Part 4
- Positive Thinking
- In-home Service Providers
- General Partnerships
- Five C’s of Credit
- Emotional Intelligence is Not an Oxymoron
- Emotional Intelligence #3
- Contribution Margin
- Buying a Business