It's no secret that Seattle has seen booming growth over the last decade with many tech giants making Seattle their primary (or secondary) base of operations. Microsoft, Amazon and Google among many others. The tech industry alone accounts for 17% of Washington's economy which currently ranks 12th
A Product Without A Business Model Will Fail
Many startups fail to consider the importance of having a business model before launching a product to the market. This aspect is essential as it gives you the insight of what to expect once it's in the field. Without it, you run into a cloudy unknown, not knowing if you're just waiting for the
Timing is Everything when Launching a Small Business
This is one of the pitfalls of small businesses. If you've read Eric Ries, The Lean Startup, you know that releasing a product "early" can better serve your business (and product) in the long term. However, if you've been keeping up with the catalogue of reasons startups fail, then you know 13% of
When You Pivot Your Business, Ensure It’s Fast & Data Driven
In a recent report from CB Insights they aggregated data from myriad startups over the years to determine why they fail. Boiling it down to the top 20 reasons startups fail, 2 are the result of pivoting. Either failure to pivot or a pivot gone awry. A pivot entails altering the direction of your
Make Sure Your Business Is Solving A Market Problem
The number one reason businesses fail is due to them not solving a market problem. CB Insights conducted research based on 101 small businesses and found that 42% of small businesses fail due to no market need. Consumers of different goods and services will always have problems, which will always
Can You Restructure Your Business, Changing The Entity Type?
Many entrepreneurs prefer to start up their business ideas as sole proprietors. This is because sole proprietorship businesses are easy to form, less expensive to start up, and require few legal formalities than other business structures. However, as your business grows, a need to restructure the
Women-Led Businesses In Seattle Getting A Jump Start
Kate Isler and Susan Gates founded WMarketplace early this year after most businesses were hit hard by COVID-19. Isler and Gates had worked together 20 years ago at another start-up, and during the summer of 2020, they joined forces and started WMarketplace. The two created WMarketplace from Be
Are ‘Cash Only’ Businesses At Greater Risk For Being Audited?
Some small businesses refuse to take credit cards due to the risk (and wealth) of fees that come with them. Chargebacks being one of the prime issues, where, if you exceed a certain amount, you'll be end up being blacklisted from the credit card company. Additionally, as it's "credit" you can also