Many successful entrepreneurs know that being successful is not about academic education. Instead, they know that being successful is about focus and persistence. Many successful entrepreneurs are high school and college dropouts. They quit school because they didn’t see the purpose of what they were learning. Many school curriculums are too narrow or too broad […]
Is Academic Education Overrated? Read More »
Tandy Leather was a family owned business located in Texas. Dave Tandy was a partner in a leather heel and shoe repair business which was founded in 1919. Charles Tandy, the son of Dave, took over the business after World War II and changed the business’s focus to leather craft after seeing how leather crafts
4 Business Lessons from Charles Tandy – Not Enough White, Too Much Purple Read More »
John Johnson grew up in a small shack with a tin roof in rural Arkansas. In an effort to give John more opportunities, his family moved to Chicago when he was 15 years old.However, coming from a poor area in Arkansas, his new classmates made fun of his accent and handmade clothes. To deal with
A Lesson in Perseverance Read More »
Recessions and depressions cause citizens to demand action from the government, providing the spark and the fuel to drive bigger government. Take for instance the Great Depression, which started in October 1929 and lasted through most of the 1930s. In June 1928 the Federal Reserve thought that the booming stock market would cause inflation, so
The Answer is Always More Government Read More »
There is a bit of an injustice in the way entrepreneurs are told about the business planning process. First, new entrepreneurs are told that to get money from a bank they need a business plan. While there is some truth to this, a major missing piece is that they will likely not get any funds
Fishing and hunting have lessons for the business owner. Being a hunter and fisherman I often read articles about hunting and fishing strategies. I recently watched a documentary about the whitetail deer population in the US. In 1700 there were approximately one million whitetail deer living in the US. By contrast, today’s estimates exceed thirty
Fish Where the Fish Are Read More »
BANNERS – The other day I went to the bank and passed a car parked in a dirt lot next to the roadway selling bonsai trees. He displayed a banner that ran the full length of his car, attached by bungee cords, to alert people to the fact that he had something to sell. A
4 Marketing Ideas to Create Brand Awareness For Under $75 Read More »
Retirement accounts qualify for special tax treatment by the IRS. A common retirement account is a 401k, where pretax dollars from you, which are often matched by your employer, are deposited into an account and allowed to grow tax-deferred. These funds are designed to create income during retirement and are subject to premature distribution penalties
Using a 401k Loan to Fund Your Business Read More »
By transferring a traditional IRA into a self-directed IRA, the IRA owner can invest in private businesses and in real estate as well as traditional sources
Using a Self-Directed IRA to Fund Your Business Read More »
Many would-be entrepreneurs have money tied up in retirement plans like IRAs or 401ks that could be used to fund their businesses. Many simply believe they can’t access these funds until they reach the age of 59.5 without being subject to a premature distribution penalty. That being said, there are a few ways that you
Retirement Account Funds New Business Read More »
