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Top 25 Best Neighborhoods For Millennials

Top 25 Best Neighborhoods For Millennials

After earning a degree, many American college graduates move to America’s biggest cities to hunt for jobs and apartments.If you are one of these young graduates attempting to strike out on your own, a website dedicated to education analysis called Niche Ink put together a list of the best metro areas for millennials. The site ranked the metro areas in the U.S. using twelve factors including data from FBI crime rates, the U.S. Census, and surveys of close to 500,000 college students and graduates. Data also came from Niche Ink user opinions about the best places to start a new life after school. The company calculated the best neighborhood for young people in each of those cities based on the mentioned factors. So, here is the list of best cities and neighborhoods for young millennials.

1. New York, NY (Best Neighborhood: Greenpoint, Brooklyn)      

Greenpoint

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    Greenpoint is a bit safer than its neighbor Williamsburg. The cost of living is a little cheaper, too. This Brooklyn area is an ideal place to eat, drink, and shop and is thickly populated by young professionals. In Greenpoint, the median rent is $1,157. This amount is easily handled by its residents since they earn an average income of $31,703. Twenty-five (25) to 34 years old residents constitute 14% of its population. The representative college is New York University.

    2. Austin, TX (Best Neighborhood: South River City)

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      South River City is a neighborhood that’s full of nightlife and shopping. Many young families are attracted here because it’s one of Austin’s most family-friendly areas with many schools just nearby. The average income of residents is $30,816 and 17% of the population is composed of 25 to 34 year old young professionals. The crime rate is below average and the representative college is University of Texas – Austin.

      3. Washington, D.C. (Best Neighborhood: Clarendon) 

      Arlington, Va.

        Photo Credit: aboutmytripdotcom via Compfight cc

        Arlington, Va. is where you can find Clarendon, the best neighborhood for millennials in the area. It’s a wise option for millennials since it offers affordable rent and accessibility to the city. The mix of small restaurants, bars, shops, and luxury apartments is another reason for its popularity. Clarendon’s median rent is $1,353 with residents having an average income of $42,226. People aged 25 to 34 form 15% of its population. The crime rate is average. The representative college is Georgetown University.

        4. Chicago, IL (Best Neighborhood: Wicker Park)

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          Photo Credit: sassnasty via Compfight cc

          Recently, crime rate in Wicker Park has decreased. That’s why a lot of downtown workers have moved to this area. In this neighborhood northwest of the Loop, there are stores, restaurants, and bars catering to young professionals. The residents of wicker park have an average income of $30, 061. The prevailing rent is $931 and 14% of the residents are people aged 25 to 34. The representative college is DePaul University

          5. San Francisco, CA (Best Neighborhood: Cow Hollow)

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            Between Russian Hill and the Presidio is a neighborhood that has become affluent. Cow Hollow houses wellness centers, health spas, boutiques, and fancy restaurants. The average income is $39,119 and 15% of its population is aged 25 to 34 yeasr old. The median rent is $1,344. The crime rate is average and the representative college is the University of San Francisco.

            6. Boston, MA (Best Neighborhood: Spring Hill)

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              Despite the fact that Davis Square and Cambridge are nearby, housing prices in Spring Hill are relatively low. That’s why it has become so popular among young people. Bars, coffee shops, and restaurants also proliferate in the area. Thirteen percent (13%) of its residents are 25 to 34 years old. They have an average income of $33,659 and the median rent is $1,163. Crime Rate is below average and the representative college is Boston University.

              7. Denver, CO (Best Neighborhood: Speer)

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                Photo Credit: chiang_benjamin via Compfight cc

                Would you like to live in a revitalized neighborhood? Then Speer is where you should be. It’s an area in Denver where high-rise apartments and commercial structures abound. Looking for classy bars and breweries? No problem, you’ll find them here. Median rent is $902. The average income is $32,422. Fifteen Percent (15%) of the population is composed of young and on the upswing professionals aged 25 to 34. The crime Rate is below average and the representative college is the University of Denver.

                8. Dallas-Fort Worth, TX (Best Neighborhood: Oak Lawn)

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                  One of the richest areas of Dallas is Oak Lawn. There are many  apartments, condos, townhouses, and urban professionals. Good clubs, restaurants, and bars reign in the area and they are particularly attractive for the LGBT community. People aged 25 to 34 make up 15% of its population. The average income is $29,830 and $874 is the median rent. Crime Rate is below average and the Representative College is Southern Methodist University.

                  9. Minneapolis-St. Paul, MN (Best Neighborhood: North Loop)

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                    It used to be the city’s warehouse district. Now the North Loop is the area for its art scene with many bars, local restaurants, and shopping. Here, the median rent is $864, with residents enjoying an average median income of $33,511. Young people who are aged 25 to 34 constitute 14% of the residents.The crime rate is average and the representative college is the University of Minnesota.

                    10. San Diego, CA (Best Neighborhood: Little Italy)

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                      Wikimedia Commons

                      Downtown San Diego has a hilly area called Little Italy that has been re-gentrified. Now it’s the city’s main center for festivals, art galleries, retail shops, and Italian restaurants. People aged 25 to 34 make up 15% of its population. The median rent of $1,261 is easily settled by the residents whose average income is $30,196. Crime rate is low and the representative college is the University of San Diego.

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                      11. San Jose, CA (Best Neighborhood: Old Mountain View)

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                        Where do tech companies and a lot of restaurants, cafes, and shops reside? Right . . . Old Mountain View. It has great views of the Santa Cruz mountains. At Old Mountain View, 15% of the population is aged 25 to 34 years old. They median income is $37,484. How about the median rent? It’s $1,454. Crime rate is low and the representative college is San Jose University.

                        12. Raleigh, NC (Best Neighborhood: Morrisville)

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                          Google Maps

                          Morrisville is scenic with picture-perfect parks. It’s a place full of activities geared towards young families with children. Organized community sports are common in Morrisville. Its multipurpose fields make it a true haven for a burgeoning starter families. Twenty five (25) to 34 years old professionals form 14% of the population. If a less than a thousand rent sounds good to you, you’ll be comfy in Morrisville; the median rent is $855. To cope with the standard of living there, you must come up with an average median income of $31,899. Crime rate is low and the representative college is North Carolina State University.

                          13.Seattle, WA (Best Neighborhood: Eastlake)

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                            Wikipedia Commons

                            Lake Union graces Eastlake on its eastern shore. It’s considered one of the most appealing residential areas in the U.S. because of the combination of small businesses, apartments, and houses. This pretty neighborhood houses numerous boutiques, bakeries, and restaurants. The median rent is higher than Victorian Village at $1,033 with the population averaging a median income of $34,199. Twenty-five (25) to 34 year old professionals make up 15% of the population. Crime rate is low and the representative college is the University of Washington.

                            14. Columbus, O(Best Neighborhood: Victorian Village)

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                              Wikipedia Commons

                              If you’re like me and you love living in a neighborhood among gorgeous houses turned into beautiful rented apartments, you’ll love staying in Victorian Village. A pretty place northwest of downtown Columbus, it counts Ohio State University as one of its famous neighbors. Fourteen percent (14%) of the residents are aged 25 to 34. Median rent is $777. Make sure you have an average income of $28,977, if you plan to make it your home. Crime rate is average and the representative college is Ohio State University.

                              15. Pittsburgh, PA (Best Neighborhood: Shadyside)

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                                Wikipedia Commons

                                If you love being around historic residences, this is your place. Shadyside has that historic look that appeals to people who appreciate buildings with charachter. It is located at the east end of Pittsburgh and offers numerous upscale stores and boutiques as well as a number of cozy restaurants. Shadyside’s median rent is $672. If you can derive a annual income that sings to the tune of $25, 000 to $26,000, you’ll have no problem living there; Shadyside’s median income is $25,520. Twenty-five (25) to 34 year-old workers account for 11% of the population.

                                16. Phoenix, AZ (Best Neighborhood: Tempe)

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                                  Wikipedia Commons

                                  Tempe is situated in the East Valley section of Phoenix. It is an artsy and friendly area with numerous bars and a lake that is perfect for outdoor activities. 14% of its population is aged 25 to 34, and it has a median rent of $934. The average income is $29,139. Crime rate is below average and the representative college is Arizona State University.

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                                  17. Los Angeles, CA (Best Neighborhood: Palms)

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                                    Google Maps

                                    Palms is located at the west side of Los Angeles. It is one of the oldest neighborhoods in L.A., providing several apartment buildings, and offers Indian and Pakistani restaurants. The median rent in Palms is $1,218 with residents averaging an income of $26,482. Fourteen percent (14%) of the population is composed of 25 to 34 year olds. The crime rate is low and the representative college is the University of Southern California.

                                    18. Charlotte, N.C. (Best Neighborhood: Third Ward)

                                    Third ward

                                      Photo Credit: DigiDreamGrafix.com via Compfight cc

                                      The Third Ward has charming town-homes and beautiful Sycamore trees. It has a dog park, a community garden, and is proudly family-oriented. Fourteen percent (14%) of its population is aged 25 to 34, and it has a median rent of $818. The average income of residents is $28,494. The crime rate is below average and the representative college is the University of North Carolina at Charlotte.

                                      19. New Orleans, LA (Best Neighborhood: Lower Garden District)

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                                        Google Maps

                                        The Lower Garden District has been rapidly gentrifying recently and has some of the most beautiful residences in the city. More shops and bars have been opening lately to cater to a younger crowd. Median rent in the Lower Garden District is $913. The population’s average median income is $25,297. Thirteen (13%) of residents are people aged 25 to 34 years old. The crime rate is below average and the representative college is Tulane University.

                                        20. Salt Lake City, UT (Best Neighborhood: East Central)

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                                          Google Maps

                                          East Central has a unique and diverse community with numerous wide grassy parks and great shopping. The city’s transit options is within walking distance. People aged 25 to 34 constitute 17% of its residents. Median rent is $852. Average income is $27,561. Crime rate, however, is a little above average. The representative college is the University of Utah.

                                          21. Houston, TX (Best Neighborhood: Midtown)

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                                            Midtown is in southwest downtown Houston. There you will find lots of bars, bánh mì restaurants, shopping centers, and other attractions for young people. The median rent is $860. Average median income is $28,306. Fifteen (15%) of the population is composed of 25 to 34 year-old professionals who are either gainfully employed or running a business. Crime rate is average and the representative college is the University of Houston.

                                            22. Indianapolis, IN (Best Neighborhood: Fishers)

                                            Fishers

                                              Google Maps

                                              A suburb of Indianapolis, Fishers, is one of the most affordable neighborhoods in the U.S. It’s nearby a shopping center and a reservoir where people can fish and water-ski. Fourteen percent (14%) of its residents are aged 25 to 34. Median rent is $763 and the average income is $28,664. The crime rate is average and the representative college is Indiana University and Purdue University.

                                              23. Richmond,VA (Best Neighborhood: Shockoe Bottom)

                                              Shockoe Bottom in Richmond, Va.

                                                Google Maps

                                                Shockoe Bottom is located east of downtown Richmond along the James River. It has become a major destination for nightlife, dining, and entertainment. Twenty-five (25) to 34 year old residents comprise 13% of its population. Median rent is $921. The average income is $30,324. Crime Rate is below average and the representative college is Virginia Commonwealth University.

                                                24. Orlando, FL (Best Neighborhood: Lake Eola Heights)

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                                                  Google Maps

                                                  Lake Eola Heights, a safe community in downtown Orlando, boasts of a nice selection of condos as well as historic homes. The median rent is $1,018. Residents are averaging a median income of $25,330. Like the rest of the locations featured here, 25 to 34 year-old individuals constitute 14% of the residents. Crime rate is above average and the representative college is the University of Central Florida.

                                                  25. Atlanta, GA (Best Neighborhood: Ardmore)

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                                                    Google Maps

                                                    Ardmore is a friendly residential neighborhood, proudly dog-oriented, and is well known for its gorgeous park. Fourteen percent (14%) of its population are people aged 25 to 34. Median rent is $937 and the average income is $29,863. The crime rate is a little higher than average and the representative college is Georgia Tech.

                                                    Featured photo credit: New York, NY/Photo Credit: robbarry via Compfight cc via compfight.com

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                                                    Anthony Dejolde

                                                    TV/Radio personality who educates about entrepreneurship, productivity, and leadership.

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                                                    Published on December 13, 2018

                                                    How to Start a Company from Scratch (A Step-By-Step Guide)

                                                    How to Start a Company from Scratch (A Step-By-Step Guide)

                                                    If you’ve ever thought about starting and running your own business, you’re not alone. Being your own boss, having flexibility with your schedule and keeping more of the financial rewards that come with business ownership are all good reasons to own your own company.

                                                    But as you might expect, it’s not all vacations and fat bank accounts. According to the SBA, 2/3 of businesses survive at least 2 years and approximately 50% survive 5 years.[1] So why is the failure rate so high? At least for the businesses that fail early on, lack of, or poor planning can be a major factor.

                                                    So how to start a company?

                                                    Starting a business from scratch doesn’t have to be hard or complicated, but it does take planning and work. Here are the first and most important 9 steps to take when your are starting a company from scratch.

                                                    1. Do an Honest Evaluation of Yourself

                                                    Do you work better in a structured or unstructured environment? Does a daily routine reduce your anxiety? What kinds of things are you good at? Does public speaking or making presentations make you nervous? Are you good at accounting and numbers? Can you handle the rejections you’re bound to get when selling or cold calling?

                                                    These are all important questions to ask yourself, in fact it’s a good idea to get other peoples opinion about their perception of you in each of these situations.

                                                    Whatever the answers you come up with for your evaluation, remember that’s all it is, an evaluation of where you are now. Think of it as a way to identify both your areas of strength and weaknesses.

                                                    You maybe good at public speaking which can help when raising money, but bad at accounting which just means that you’ll need to find some kind of help with that area of the business.

                                                    2. Evaluate Your Idea

                                                    If your business idea involves a new product or service (or even an enhancement to an existing product or service), it needs to be evaluated. This is technically called market research.

                                                    There are firms that specialize in doing market research for new products, but if you are on a tight budget, you can do this yourself.

                                                    First, if you can build a prototype for people to use, touch and look at that’s the best option. If a prototype is not possible or it’s a service business, then offer a highly descriptive presentation of the business plan complete with it’s unique benefits and how it’s different from the competition.

                                                    Then listen! Remember that this is not about others liking your product, this is not your baby that they are talking about. You want honest market research that gives you the best chance for a successful business. Take notes, when someone tells you that they didn’t like a feature or some aspect of your idea tell them ‘Thank you”.

                                                    After several rounds of market research with different groups of people, you should see patterns emerging about things that they both liked and didn’t like. Use this information to tweak your product or service and do another round of market research.

                                                    Keep in mind that you’ll never come up with a universally loved product, your job is to produce a product or service that appeals to the broadest range of your target market.

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                                                    3. Make a Business Plan

                                                    I know, I know this isn’t the “fun” part of starting your own business, but it is an very important step in creating a successful business!

                                                    Basically, you can think of a business plan as an outline or blueprint of your business. A good business plan should have the following elements:

                                                    • Executive Summary – This should lay out the businesses product or service and the problem that it solves for the consumer.
                                                    • Market Evaluation – This should talk about the market you are serving. Is it an expanding market, and how does your product better fulfill the consumers in that market.
                                                    • Market Strategies – How are you going to penetrate the market and sell your product.
                                                    • Operational Plan – How will the company run from day to day? Who are the key employees and what are their specific rolls. Do your key players have specific goals set for them in advance?

                                                    A final word on making a business plan: while lying is never acceptable especially when you are using the business plan to raise money, it is acceptable to “put your best foot forward”.

                                                    Playing up the positives while minimizing the negatives is almost expected in a business plan.

                                                    Besides, banks as well as professional investors will both do a more in-depth analysis before investing any money into your idea.

                                                    4. Decide on a Business Structure

                                                    You have many options here, and discussing them with your accountant or financial adviser is really the only way to know what’s right for you. But just to give you a quick rundown of the types of business entities and their pros and cons we will briefly go through them:

                                                    Sole Proprietorship

                                                    This is a common way for small businesses to get started.

                                                    The pros being:

                                                    Relatively low costs to set up (usually a business license and sales tax license).Owners normally do not have to set up a special bank account, they are allowed to use their personal one. Any income earned can be offset by other losses (check with your state!). You as the sole proprietor have complete control over all decision making. 

                                                    Finally, sole proprietorship’s are relative easy to dissolve.

                                                    The cons of using a sole proprietorship include:

                                                    You as the sole proprietor can be held personally responsible for the debts and liabilities of the company. Some benefits, such as health insurance premiums, are not directly deductible from business income.

                                                    If you need to raise money, you are not allowed to sell an equity stake in the company. In that same vein, hiring key people maybe more difficult because you cannot offer them an equity stake in the company.

                                                    Partnership

                                                    A partnership is formed when two or more people decide to start a business. Although there is no legal requirement for any documentation to form a partnership, it is my advice that you never enter into a partnership without having a partnership agreement. (Remember, spending $1500 now can save you $150,000 in legal fees later!).

                                                    The pros of a partnership include:

                                                    Being relatively easy and inexpensive to start. Hiring key employees can be easier as you are allowed to give equity ownership to as many partners as you want.

                                                    For tax purposes, partnerships are relative simple as any income is treated as “pass through” meaning that each partner pays tax on their individual portion of the partnerships income (As of this writing, always check with your tax adviser).

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                                                    As far as the cons go:

                                                    It can be difficult for some general partnerships to raise capitol. Because it is a partnership, the actions of one of the partners can obligate the entire organisation. All profits must be shared according to the partnership agreement regardless of the amount of work done by any single partner.

                                                    Some employee benefits may not be able to be deducted on income tax returns.

                                                    Limited Liability Company (LLC)

                                                    This is a very popular business entity for small to medium sized businesses. The reason for this is the cost of set up is not prohibitive and there is a separation between the owners and the company.

                                                    The pros of an LLC include:

                                                    Limited liability for the partners, unlike sole proprietorship’s and partnerships where the owners are held responsible for all of the companies debts and liabilities, an LLC provides some protection against certain debts and liabilities that are solely the companies.

                                                    Simple taxation, just like the sole proprietorship and partnerships, income is considered “pass through” and is only taxed once on an individual level.

                                                    There is no limit on the number of shareholders in an LLC. An LLC requires fewer fillings and administrative requirements than a corporation.

                                                    Corporation

                                                    A corporation is much more complex and expensive to set up. And a corporation is legally considered an independent entity that is separate from its owners.

                                                    The pros of a corporation include:

                                                    Complete separation between the owners and the company. Because the corporation is considered its own legal entity, owners can not be held personally responsible for any debts or liabilities of the company.

                                                    A corporation can raise capital much easier just by selling more shares in the company.

                                                    Cons of corporations include:

                                                    Much higher administrative costs than any other business entity. Corporations generally have a higher tax rate. Dividends are not tax deductible for corporations. Income paid in dividends is taxed twice, once by the corporation and again by the shareholder.

                                                    Again, this is just a short summary of the pros and cons, always check with your tax adviser about what will work best in your situation.

                                                    5. Address Finances

                                                    Again, not one of the “Sexier” parts of starting your business from scratch, but very important nonetheless.

                                                    So, you’ve done your business plan and an estimate of your start up funding should be included. It should include the amount of funding you’ll need to get you through your first full year of operations.

                                                    Now, how do you get that money?

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                                                    Self Funding

                                                    If possible, self funding is the easiest. You won’t have to go to banks and investors with hat in hand, or give up ownership or control of your company. But as we know, this is not a reality for most people. But don’t worry, there are still plenty of options available.

                                                    Friends and Family

                                                    They can be a good source of funding your business if they can see and understand your vision.

                                                    Remember that business plan? Pass them out to everyone you know. Then follow up, be prepared to tell them the total amount of money you expect to raise, the minimum investment you are looking for and what you will give in return for the investment.

                                                    For example, you give a friend your business plan and follow up with him/her a few days later. You can explain that you have secured funding for $80,000 of the $100,000 you need. You are selling a 2% share in the company for every $2,000 investment. How many shares would he like?

                                                    And when he/she tells you no, thank him/her and ask if he/she can think of anyone off the top of his head who might be interested? Tell him/her you really appreciate his/her time and if he/she does come across someone who might be interested to let you know.

                                                    Banks

                                                    These guys are happy to lend you money when you don’t need it, but all of the sudden they get stingy when you actually need a loan! This is where preparation comes in.

                                                    It’s a good idea to go over your business plan with an expert and maybe even have it rewritten by an expert before you approach either a bank or professional investor. Both will want to go over your business plan with a fine tooth comb, verifying all the numbers and data you provide.

                                                    You should also brush up on everything in the plan so that you can answer any questions they have with authority.

                                                    Crowdfunding

                                                    Finally, there is crowdfunding through sites like Kickstarter or GoFundMe. Crowdfunding helps to build interest, community spirit, and a customer base. It’s also an efficient way to raise funds. You can take a look at these tips to find out more:

                                                    6 Crowdfunding Tips To Get Your Project 100 Percent Funded

                                                    6. Register with the Government

                                                    As stated earlier, different types of business entities have different filling and administrative requirements. At the very least, you’ll probably need a business license as well as a state sales tax license.

                                                    Unless you are forming a corporation, there are many good resources on the web that will do everything for you at a minimal cost.

                                                    7. Assemble Your Team

                                                    Remember when we evaluated your strengths and weaknesses? Here is where we fill in the gaps!

                                                    Do you hate sales and cold calling? Great! There are people who love selling and wouldn’t want to do anything else.

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                                                    Bored to death with accounting? There are a ton of small accounting firms out there that will take care of that for you.

                                                    What about marketing? You can hire someone in-house or out-source that too.

                                                    Your job is to keep on top of all the different aspects of the business to make sure they are all running smoothly and getting the results you need. If not, it’s your job to figure out the problem and implement a solution.

                                                    Check out this guide and learn how to delegate effectively:

                                                    How to Delegate Work (the Definitive Guide for Successful Leaders)

                                                    8. Buy Insurance

                                                    No matter what kind of business you start, you need insurance! Yes, I know, no one likes to buy insurance, but it can literally be the difference between having a minor inconvenience and declaring bankruptcy.

                                                    We live in a very litigious time, even a minor slip and fall at your place of business could bankrupt you without insurance. If you need help finding a good agent, check with your local trade organizations or fellow business owners.

                                                    9. Start Branding Yourself

                                                    Has anyone ever ask you for a Kleenex or a QTip? We all know what they are because of branding, Kleenex is just a brand of tissue and QTip is just a brand of cotton swab. It doesn’t have to be as widely known as Kleenex or QTip, but you can make your brand a common name within your niche.

                                                    I once owned a manufacturing company that developed a product that was so popular that my competitors started co-opting my brand name for their products.

                                                    If you aren’t sure how to kickstart branding yourself, check out these ways:

                                                    5 Ways to Build your Personal Brand & Make More Money

                                                    The Bottom Line

                                                    Starting a business from scratch can be one of the most rewarding experiences a person can have.

                                                    But do you know what’s even more rewarding? Having a business that succeeds, is profitable and provides a good source of income for you, your employees and their family’s.

                                                    More Resources About Entrepreneurship

                                                    Featured photo credit: Tyler Franta via unsplash.com

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