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How Entrepreneurs Can Take On The Big Players

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Every business faces competition. Unless you’ve discovered a natural monopoly or developed a product that’s so out there that nobody else is making it, you’re going to have to outsmart your rivals.

Competition can be daunting, especially when you’re just starting out. Established players seem to have all the advantages: Their brand is more recognizable, economies of scale enable them to undercut your prices, and they can outspend you on marketing to stay top of mind with consumers.

But an agile small business can still go toe-to-toe with the established names in its field. Ancestry.com has 2 million subscribers and 11 billion historical records, but that didn’t stop Cliff Shaw from making a success of his genealogy company, Mocavo. Shaw didn’t try to take on Ancestry.com directly. Instead he developed a new model of doing genealogical research that proved complementary.

Small businesses also have their advantages over the big players. They can move quickly, they can more easily build personal connections with consumers, and they’re considered more trustworthy, too. Family-owned businesses are trusted by 80% of Americans, whereas only 52% of people trust public companies. To harness your entrepreneurial advantage, follow these three tips for taking on the big boys:

Read full article by Rhett Power here @ Forbes

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Entrepreneurship

KOBE BRYANT EXCELLED IN BUSINESS TURNING $6 MILLION INTO $200 MILLION WITH BODYARMOR

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The late Kobe Bryant, 41, didn’t just excel on the basketball court, he also achieved major successes in business.  An investment from six years ago proved to be a huge windfall for the late NBA star Kobe Bryant. In 2014, Bryant bought a 10% share of sports drink BodyArmor. Coca-Cola just purchased a minority investment in BodyArmor.

Bryant’s initial investment of $6 million turned into $200 million with the soft drink giant’s investment.

Read more at Black Enterprise

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Entrepreneurship

MWR Financial – Home of the “Instant Payraise”! View video!

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Entrepreneurship

Why Entrepreneurs Don’t Learn From Their Mistakes

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Part of the folklore about successful entrepreneurs is that they succeeded because they first failed. “Fail fast,” entrepreneurs are often told, and you’ll learn valuable lessons that will help you in your next venture.

Read full story at The Wall Street Journal

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