Side Hustle or Full-Time Business: Pros and Cons

Side Hustle or Full-Time Business - Pros and Cons

Do you dream of giving up your job and being your own boss? Making the jump from employee to entrepreneur and business owner can prove daunting, as well as rewarding.

Some people find getting a ‘happy balance’ by remaining in employment but embarking on a side hustle. As a result, they run their own business on the side while working full time. Others want the challenge and rewards of running their own full-time business.

Side Hustle or Full-Time Business

If you’re deliberating whether to start a side hustle or full-time business venture, take a look at the following pros and cons of side hustles and full-time businesses to help you decide.

Side Hustle Pros Diversify Your Business

You might already run a business and are thinking about starting a side business. Side hustles can be the perfect way to diversify your business. By varying its range of products or services, you can increase the profitability of the business.

One example of a business embarking on a side hustle is the multinational furniture retailer, IKEA. In 2017, IKEA announced it was considering opening a chain of standalone restaurants.

Peace of Mind

We can never be sure that any kind of business will be successful. By starting a side hust

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The Ultimate Secrets to Protecting your Business Trademark

Can This Simple Trademark Protection Tool Help You Avoid Trouble?

In 2017, people registered an estimated 43.2 million active trademarks at 138 Trademark Offices around the world. And that represents an increase of nearly 10 percent compared to 2016 data. Unfortunately, trademark infringement continues to increase as  well. In a 2018 survey of 352 trademark professionals working in the US and western Europe, 81% said they experienced trademark infringement. So data shows a 74% increase compared to 2017.

Trademark Protection Tool

Small Business Trends emailed Trademark.com to find out where entrepreneurs “go wrong” if infringed upon. And how timeliness is crucial in those situations. Trademark.com says it provides an affordable and user-friendly trademark protection tool. The tool includes handy alert features used by brands of all sizes.

Mara Trumbour is the Executive Product Owner of Trademark.com. Trumbour possesses extensive experience with intellectual property solutions. Based in Boston, Massachusetts, she is responsible for the development and execution of Trademark.com’s business strategy. She holds an MBA with a concentration in marketing from Bentley University.

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What is Order Fulfillment and Why is Mastering It Critical to Your Business?

What is Order Fulfillment and Why is Mastering It Critical to Your Business?

Order fulfillment is about the steps involved in receiving, processing and shipping orders. Take note. Over half of online shoppers earmark speed of delivery when evaluating orders. Here’s what you need to know and why it’s critical for your small business.

The Order Fulfillment Process

Getting everything right means understanding the process. If you’re going DYI, you’ll need a way to receive inventory. You can keep your goods in house or use an outsourced company. Keep it in house and you’ll need a warehouse with an inventory system. And you’ll need a way to process, pack and ship orders.

Outsource companies will handle all of that for you. They look after managing the inventory, processing the orders and shipping.

Calloway Cook is the founder of Illuminate Labs.  He outlined the biggest issue for small businesses.

“Processing orders is incredibly time-consuming,” he writes. “I’m the Founder and only employee of my company. If I label and drive to the post office to ship each order it would take hours. The opportunity cost of that is great for small start-ups. A

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Ecommerce Business Failure Rate at 90% After 120 Days – How to Avoid It With Your Business

The Reasons Why Ecommerce Fails

The success and failure rates of brick and mortar small businesses have been well documented. But how do ecommerce startups fare?

According to a new survey by MarketingSignals, the failure rate stands at 90% after 120 days or almost four months.

This, of course, is much direr than physical stores. The Small Business Administration (SBA) puts the survival rate of the first year for new businesses at 78%. So, only 22% fail the first year. However, the failure rate goes up to around half of all businesses in the fifth year. Still, it is not as bad as the number for ecommerce businesses.

MarketingSignals used the data from a survey it carried out with 1,253 owners of failed startups in the UK for the report. It also used many other sources including Forbes and Huff Post. And the preliminary findings reveal two main reasons why they are failing so early in their entrepreneurial venture.

The failures are attributed to, “Poor online marketing performance coupled with an overall lack of&nb

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