The 4 Most Common Entrepreneurial Retirement Myths

Retirement planning can be a tedious task, and many people choose to avoid saving for retirement early in their career. They tend to wait until they are more financially stable before opening an IRA or funding their 401k; however, if you wait too long, you may not be able to retire comfortably. This is especially true for entrepreneurs, startup founders, and small business owners.

Business owners state a variety of reasons for why they don’t start saving for retirement. A lot of these reasons are untrue and are considered “retirement myths”. These myths play a large role in why they tend to avoid planning for retirement early on.

So what are some of these retirement myths?

Well, here are the 4 most common entrepreneurial retirement myths that many people believe are reasonable excuses to hold off on their retirement plans.

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3 Ways for Entrepreneurs to Learn from Failure

Let’s face it, failure sucks. No one wants to pursue a goal and come up short. That being said, failing at something is inevitable and everyone faces it sometime in their lives.

This is especially true for entrepreneurs who try to start their own business. Hence, an entrepreneur’s journey is never easy, and failure lingers at every corner. Even the most accomplished entrepreneurs have failed at some point in their career before reaching success. Failure should never be the end of the road, and it should be utilized as a tool for prosperity.

How? Well here are 3 ways for entrepreneurs to learn from failure.

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ACA Changes that Entrepreneurs Must Know

ACA open enrollment has just begun, and people across the nation are trying to find coverage for next year. The ACA has been on everyone’s minds as people are facing premium increases that are damaging their budget. Also, it doesn’t help that large insurers have left the exchange, which leaves people uninsured until they find another coverage. That said, the ACA hasn’t received much attention for some of its other changes. These changes relate to the ACA regulations, which greatly influence small business owners and entrepreneurs. Therefore, here are some of the ACA adjustments that employers must know to keep their business running smoothly. Continue reading

How Compliance Ruined My Entrepreneurial Spirit

When I was 5 years old, I remember believing that one day I would be running my own business. I had it all planned out. It was going to be a candy store with all types of chocolates, lollipops, cookies, brownies, s’mores, basically you name it, and I’ll have it. If you couldn’t tell, I probably had the largest sweet tooth in the world.

Besides the fact that I was merely a child when I thought of this idea, I had no clue how to run a business or what I would need to start one. 20 years later, and my vision of one day creating my own candy store is nothing but rubble.

Why? One word – compliance. Continue reading

What They Don’t Tell You About Entrepreneurship

So you’ve decided to quit your full-time job to start you own business. You have a great business idea with a well-thought-out business plan, and you have the passion to commit your entire life to growing your small business into an empire. You’re excited to begin your new journey and already day-dreaming about shaking hands with investors like Mark Cuban and Warren Buffet. What could go wrong right?

A lot. A lot of things can go wrong.

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Want to Become a Successful Entrepreneur?

First off, I just want to say that entrepreneurship is not for everyone. Some people yearn to become an entrepreneur and believe it is their calling, while others just want to play the supportive role for a reputable company.

Think of enterpreneurship as a sport. Some people are naturally gifted athletes who are able to pickup the sport in a matter of weeks, while others aren’t able to adapt even after years of practice. But like any athlete, just because you have the talent doesn’t mean you will become a success.

Don’t get me wrong, genetics do play a crucial role when determing an entrepreneur’s success, but it isn’t the only factor that decides it. If you don’t have the genetics, you can make it up with perserverance and dedication.

Remember, anyone can become an entrepreneur, but not everyone can be a successful one.

Therefore, I will describe 3 traits that an entrepreneur needs if he/she wants to become successful.

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