Create For Cash

A Solo Entrepreneur’s Guide to Keeping Their Company Going After They Die

Guest Post by Alicia Lawrence

Death is the one thing we can count on in this life. We often push the thought aside to avoid depression. But in the case of a solo entrepreneur, death is something we have to be prepared for if we want our business to live on. While some entrepreneurs are fine with the thought of having their business die with them, others value all the time, sweat and tears they’ve poured into their work and hope it will sustain their family even after they are gone.

This is a guide for those solo entrepreneurs who hope to pass down their business to a family member or friend. One caveat before we begin: every business is different and, while entrepreneurs love doing things themselves, it’s worth your investment to have a lawyer or financial planner look over your business continuation plan to make sure you didn’t leave anything out. [Read more…] about A Solo Entrepreneur’s Guide to Keeping Their Company Going After They Die

Exclusive Distributorship Agreement for New Products

Exclusive Distributorship Agreement

You’ve invented a product and now you’re ready to take it to market. But don’t jump into an exclusive distributorship agreement with the first person who shows interest in your product. There are a few things you need to know first.

Never Grant Exclusives Without Guarantees

The first thing everyone will ask when they approach you about selling your product is whether they can have an exclusive or not. I can’t really blame them for asking. Because if they are going to put a lot of time and money into your product, they want to know that they have an exclusive to sell it and keep competition away. [Read more…] about Exclusive Distributorship Agreement for New Products

4 Steps to Making an Idea Happen

I hear it from entrepreneurs every day. “I have a great idea!” You probably hear it a lot if you watch “Shark Tank”. Everyone with a great idea really believes in it. They think it can change the world, and maybe it can. But there’s a huge difference between having a great idea and actually making an idea happen.

Thomas Edison said “Genius is 1% inspiration and 99% perspiration”. I couldn’t agree more. I’m not saying that great ideas aren’t great. But that’s just the tip of the iceberg. Turning them into a valid product, service, or business that people will want to spend money for can be a Herculean task, especially if you don’t have money or the knowledge you need to see it through and get it on the market.

But that should never, ever stop you from following it through. Just know that you will have to put a certain amount of sweat, blood and tears into your new venture and be prepared for it. Here are 4 ways to make the journey a little bit easier: [Read more…] about 4 Steps to Making an Idea Happen

Why Promotional Products Are Better Than Advertising

Promotional products are things like hats, mugs, T-shirts, water bottles, pens and basically anything else that you can put a logo on. If you look around your office or home you will probably see many different promotional products lying around. This is one reason why promotional products are better than advertising… people actually keep them. They are usually useful and are things that you might buy anyway, like pens and mugs.

You control the process

Unlike advertising, you know exactly who got them and that the right people did indeed get them, because you control the process. An ad might not always get to the audience you’re targeting. With promotional items you can give them exactly what they are looking for, and since they want the product anyway, they will be much more likely to keep it around. [Read more…] about Why Promotional Products Are Better Than Advertising

Learn From the Mistakes of Others

I often wonder who the first food tasters were and how they knew what was poisonous and what wasn’t. Maybe this is why there are so few real innovators because being the first to do something can be scary and sometimes dangerous. We like to know that someone else has been through the trial and error first before we decide to jump in.

Learn from the mistakes of others

I was in the grocery store today looking up at the eggs on the shelf and a woman leaned over and said “Be careful”. She pointed at the ground to a pile of egg yolks with a big footprint in it. “I learned the hard way”, she said, “I almost slipped and broke my neck”.

The first thing I thought was what a tragedy it would be to break your neck on a pile of egg yolks in the grocery store. Not skiing the Alps or drag racing at 150 miles an hour, but in the egg aisle at Ralph’s. [Read more…] about Learn From the Mistakes of Others