More often than not, entrepreneurs require significant financing to launch their business. Ideally, you’d have the means to tap into savings to obtain the capital required to buy a building, furnish the space, purchase equipment, and launch a product or service line. Unfortunately, we all know that this is rarely the case. When looking for ways to finance your business, you’re faced with a choice between two types of funding: debt or equity. While it’s possible to combine the two to create a capital structure with more balance, it’s first important to explore the sources of funding that fall into each category…
Is Developing a Business Plan Worth Your Time?
When you’re working day and night to get a startup off the ground, it can be tempting to cut corners by skipping the creation of a business plan. If you’re connected with your vision, goals, ethics, and sources of funding, it can be even more tempting. While some successful startups have opted to skip a business plan, there are many benefits of sitting down and spending the time to create one. Not only does a formal plan lay out your goals in a physical, real way, but it also allows you to take the time to look for potential pitfalls in your plans…
Are You Setting the Right Venue Rental Rates?
Pricing yourself competitively is tough for most business owners, especially when you’re in the event venue business. When you set your prices, you need to include everything that a client will receive, both leading up to their event and on the day itself. In other words, you have to charge what your business is worth. That includes your expertise as an event manager, as well as all your venue’s extras like seating and catering…
6 Creative Ways to Generate Revenue for Your Event Venue
Accounting Tips for Mobile Businesses
What's Different about Starting a Mobile Business?
5 Risks of Running an Event Venue
Understanding the risks involved in running an event venue business is an important part of planning for success. An event venue can bring in thousands of dollars in rental fees for an owner who enjoys serving their clients’ needs, but event venues are also characterized by high overhead and operating expenses…