Author View (Randal Pinkett)

Innovation is the key to finding successful opportunities in a recession. While no one wants to build success on the misfortune of others, opportunities to improve a process, start a new trend or re-invent the wheel are everywhere. In fact, some of the most well known brands in the globe were founded during hard times. Read how these five determined business owners were able to turn instability into profitability and make themselves recession-proof: Related Training The No-Money Down CEO more...

As an entrepreneur, I’ve experienced the up’s and down’s of running my own shop in the best of times and the worst of times, but certainly without some of the current economic hardships that entrepreneurs are now facing. Because small business owners are fast becoming the backbone of the economy, our success is critical to rebuilding our weakened business state. Can it be done and are there any new ideas that will work? Check out how four entrepreneurs are finding opportunities despite the hard times: Related Training The No-Money Down CEO more...

I can't stress enough the importance of choosing partners wisely. I've had eight business partners over the course of my various professional ventures, some of whom I brought to the table and some of whom others brought to the table. Every partner was a friend of an existing partner. Everyone was a known quantity. Nevertheless, not everyone worked out. Sometimes people didn't pull their weight; in a few instances, partners didn't bring in contract opportunities when they had an equity stake in the company that required them to land new business. At other times, individuals had other priorities and were unable to more...

Cash flow is the number one headache for entrepreneurs. If more money is flowing out of your company than is flowing in, you could take a loan to temporarily correct the problem. But since borrowing can dig your enterprise into a deep hole, I would urge you to apply these wealth creation remedies listed below. They will help you address the underlying problems instead of avoiding them: Collect money up front. Depending on your industry, it might be customary for you to deliver your goods or services without being paid up front. But why shouldn’t you secure money from clients ahead of time, more...

It takes capital to start a new enterprise. Yet capital is more than just money. It comes in several other important varieties too: Intellectual capital is made up of the experience, knowledge and skills that reside in your startup team. Groups with rich intellectual capital have tremendous collective energy. They can accomplish far more than the same individuals ever could on their own. Social capital embodies all the professional, personal and social contacts that serve as resources to you and to your team. As the old saying goes, “It’s not what you know, it’s who you know.” Even though that saying more...

If you’re an ambitious student or if you know one, the time to start a business is now! I would like to take this opportunity to congratulate the three winners of the first Most Promising Campus CEO Contest. They are Catherine Cook (first place), Corey Kossack (second) and Seth Flowerman (third). Catherine, a high school senior, is founder of myYearbook.com. With 1.7 million members only two years after going live, myYearbook.com is one of the fastest-growing sites on the Internet. You can read more about Catherine and all the finalists by clicking here. Why did I put so much effort behind the contest? more...