New York SBDC Research Network

By Lisa Furgison From Bplans You’re probably mulling over a business idea. It’s probably something you’ve been thinking about for a while. And you’re probably ready to turn your business idea into a reality. As part of the planning stage, you’ll want to gather information, do research, and make sure that your business idea is viable. During this information-gathering stage, there’s a small list of people you should talk with before you move forward with bigger steps like applying for a bank loan or looking at commercial space. One of the first people you should talk with about this new venture is your spouse. It sounds like a no-brainer, right? But some people get so caught up in their business idea that they don’t have a real sit-down conversation about how the business could impact their relationship, finances, and free time.

By Tim Berry From Bplans Startups and high-growth businesses can learn a lot from angel investors, regardless of whether you’re seeking funding to grow your business or not. And if you pitch and get turned down, their feedback can be really valuable in helping you think about what you need to do next to meet your funding goals. I’ve seen this over and over in my dealings, both as an angel investor on my own and as a member of a local angel investment group. Most angel investors don’t just reject startups—we explain why. And we don’t just say yes either; we explain what else is needed... Angel investors are individuals willing to invest their own money to fund new startups. Most of them have made money with startups; they’ve been through the wringer, they’ve succeeded, and they are in a position to share. They can teach you a lot. So if you’re a startup, always focus on listening first.

Entrepreneurs are the lifeline of any economy, and high-growth start-ups in particular are responsible for the great majority of new job creation. It’s worrying, then, that according to several reports the number of new businesses being created in the U.S. has been stalled since the end of the recession. As a mentor to many start-up entrepreneurs, I find this slow-down concerning, and I see one reason that’s rarely spoken about and needs a closer look: what I call spreadsheet asphyxiation. I repeatedly hear from young entrepreneurs that, as fund managers come in, they introduce too many controls for cash flows, income projections, budgeting, risk analysis, financial modeling – the list is endless. Start-ups can’t be assessed using conventional business metrics. Yes, they require diligent oversight. But in my experience, this can be achieved without an excessive emphasis on controls if a start-up entrepreneur has clarity at all times on four simple questions. First, what specific pro

It's one of the first things people ask you when you tell them about your new job: What are the benefits? Health insurance is such an integral part of life that people take jobs just so they will be guaranteed issuance. Now that the Affordable Care Act application process is up and running, people have been buzzing about how it will affect their lives. Startups and entrepreneurs, though, have the potential to be the biggest winners come January when the Obamacare plans go into effect. Chris Mihm, owner of Medicoverage, believes that for a few different reasons the Affordable Care Act is going to revolutionize startup hubs around the country. "Group insurance offers guaranteed issuance – every single employee will get approved no matter if they have cancer or any pre-existing condition of any type," Mihm said of the way health care traditionally worked. "On January 1, 2014, every single person who signs up for insurance is guaranteed issuance. So even if you have a

During software engineer Ryan McGeary’s nine years working at seven startups, he has weathered contentious dramas, legal battles, and broken friendships stemming from arguments about how equity should be shared among founders and early investors... "There’s got to be a better way" to handle equity stakes, McGeary says. Recently he stumbled across just that: so-called dynamic equity splits, an idea making the rounds among Chicago startups. The concept is described in a book called Slicing Pie, by Mike Moyer, an adjunct professor of entrepreneurship at Northwestern University and founder of venture capital firm Lake Shark Ventures. More from Business Week .

If you're starting a new business, or purchasing an existing one, there's a publication you might want to add to your reading list - the http://www.tax.ny.gov/press/rel/2012/pub20112812.htm Tax Guide for New Businesses (Publication 20) from the New York State Department of Taxation and Finance Connect with the Department on Twitter and YouTube .

Startup Rates Where are the jobs created? New or existing businesses? What is the level of availability and coverage of health insurance in small firms? Do economic or industry factors affect business survival? What is the difference between self-employment nonemployer businesses and sole proprietors? Credit Card Financing and Small Business Read all about these topics HERE .

From CBS News MoneyWatch It's a lousy time to start or grow a business, right? Wrong! Over half of America's Fortune 500 companies started during a depression or recession. As far back as the first century BCE, Horace noted that "Adversity reveals greatness; prosperity conceals it." Entrepreneurs are problem solvers. They see beyond the pile of poop and look for the pony. Every crisis is an opportunity for change; every problem begs for a solution... We are all problem solvers to varying degrees. When confronted with problems, we all seek solutions. The difference is that successful entrepreneurs solve other peoples' problems, not just their own. Though their solutions may have originated from their individual situation, they are able to recognize a widespread need, replicate the remedies, and offer the solution to others.

Building a community around your startup can be one of the cheapest ways to create momentum for your product. A community is much more than a one-time marketing campaign, and can help you throughout your company’s life cycle if you take the time to grow it right. HERE are 10 tips for getting started.

There is a popular programmers Q&A site, Stack Overflow . It is part of a larger network of Q&A sites on a range of topics, Stack Exchange . While it is tech-heavy, there are several decidedly non-technical ones – cooking, photography, bicycles among others. Notably, there is answers.onstartups.com , described as "Q&A for entrepreneurs looking to start or run a new business." ( Thanks, Al! )

I'm sure that the story told by the author of this article from Inc. magazine is one that our clients have been telling for years. It seeks for the entrepreneur that hard-to-maintain balance between private life & business life, between family and company. I'm not precisely sure what to tell people who find themselves struggling with that, but the article seems to assert that optimism in a better future is a trait that any business owner has to possess before starting a business. For those who do . . . good luck!