Entrepreneur Magazine recently named its winners of the Entrepreneur of 2011 Awards. The magazine sorted through thousands of deserving candidates and decided on three winners.
In some ways, these entrepreneurs couldn’t have been more different:
- Lee Rhodes creates artisanal candleholders and distributes them nationally. She donates 7% of her revenues to organizations primarily involved with cancer research or treatments.
- Adam Nelson rescues sleep-deprived parents with his Good Nite Lite, a behavior-modification device that helps modifies child behavior.
- Gabrielle Palermo is a college student who helped develop a company that changes shipping containers into portable medical clinics for those in disaster zones or developing nations.
But these entrepreneur ideas all had something in common, too.
Namely, they were “small” ideas that grew. And the entrepreneurs behind these businesses didn’t start with a huge operating budget.
If you’re a small business owner – or thinking about becoming one – the success of these businesses should inspire you. They certainly inspire me.
But, inspiration – or a great idea – only takes you so far.
After a while, your success depends upon your ability to grow and sustain a business. For that you need business smarts – like using sound cash flow management to negotiate the unavoidable slow and busy cycles present with all emerging companies. Cash flow management (including invoice factoring) can aid you in preparing for these periods, and help ensure that you have enough capital to deal with your expenses.
Be sure to also take advantage of quality free business advice.
When you start your company, you’ll be on a restricted budget. That means being careful about how you allocate every dollar.
Fortunately, there’s plenty of practical free business advice that can guide you through this challenging period. For instance, the U.S. Small Business Administration offers plenty of insightful information about starting and managing a business, cash flow management, invoice factoring, loans, grants and more. Local small business chapters can also be an excellent resource.
At MP Star Financial, we’re happy to assist you, too, with free business advice resources, such as our “Grow Your Business Through Invoice Factoring” e-book.
Remember, MP Star Financial is in your corner – we want you to succeed. We’ve helped countless companies – including those founded by promising entrepreneurs like the ones just mentioned – gain and maintain the financial footing they need for their businesses to prosper.
Call (800) 833-3765, extension 150, today or email info@mpstarfinancial.com.