When you run a small business, it’s important that you find your own place in the market. Many a small business has failed because of trying to be “everything to everyone.” On the other hand, those that have succeeded have done so because they’ve carved a specific identity and targeted a specific market. If you need help finding your niche, you’ll enjoy our interview with High Cotton below, in which James Hill explains how they’ve carefully and artfully carved their own unique niche in the fashion apparel and accessories industry. We’re also sharing advice that will save you from common legal mistakes, and entrepreneur lessons from the founder of Inga’s Lingua.
Finding Your Niche
As a small business, it is important that you define your identity, values, and market. It not only helps people understand who you are, but it also gives you a roadmap for how to drive your company forward, including marketing and product development. In this interview with James Hill of High Cotton, we learn about a company that “started with a yard of fabric on the kitchen table” and then grew into a million dollar business. They did this by targeting a very specific market and building an identity that would resonate with this group. If you could use some help finding your niche, this article is for you.
Small Business Legal Issues (And How to Avoid Them)
Your small business is driven by your passion but, unfortunately, if you make the wrong legal choices the business can quickly go off course. This article explores five of the most common legal mistakes that small business owners make, regarding legal structure, intellectual property, shareholders, investors, and payroll taxes. You’ll learn more about each of these important small business legal issues and also how you can avoid making disastrous legal mistakes.
Lessons Learned About Becoming an Entrepreneur
The road to becoming an entrepreneur isn’t paved, and each person who sets down that path experiences his or her own bumps along the way. In this interview, we speak with Inger Stapleton, the owner of Inga’s Lingua, an educational program helping busy professionals learn the Spanish language. Inger shares three of the most important lessons she’s learned from becoming an entrepreneur. Some of her points will be familiar for those who have entered the world of entrepreneurship, and other points just might surprise you.
You may have noticed a theme in the articles chosen for this week’s Smart Hustle Recap: all are about the road to becoming a small business owner or entrepreneur, and how the choices you make along the way can either drive your success OR your failure. Finding your niche, avoiding legal issues, and learning as you go are all strategies that can drive your success. As you’re cruising down the road of entrepreneurship, take a quick break to get these and other lessons on SmartHustle.com.