In business and entrepreneurship, success often hinges on the ability to identify and meet a critical need in the market. This becomes especially vital during times of economic uncertainty. Choosing a business model that addresses a real problem and setting up in a location where your services are in demand can be the difference between thriving and merely surviving. This article explores the importance of these factors and offers insights into building a business that can weather economic downturns and remain recession-proof. A need-based business model ensures sustained demand, customer loyalty, and a competitive edge. Choosing a strategic location enhances accessibility, economic stability, and logistical efficiency. By focusing on these critical factors, entrepreneurs can build businesses that are resilient, adaptable, and capable of thriving even in economic turmoil. Embracing innovation, managing costs effectively, and diversifying revenue streams further strengthen the ability to navigate and succeed through economic challenges.

Professional FinancialDr. Patrice SmithJune 13, 2024twelve, entrepeneurship, businessComment

Boost Your Business with Square: Empowering Entrepreneurs with Seamless Payment Solutions

In the fast-paced world of business, staying ahead of the competition and providing convenient payment options for customers is crucial. Square, a revolutionary payment processing platform, has emerged as a game-changer for entrepreneurs and businesses of all sizes. In this blog post, we will explore the numerous benefits of Square and how it can transform your business with its seamless payment solutions.

Professional FinancialDr. Patrice SmithAugust 3, 2023business, squareComment

7 Things I Learned From Creating a 7-Figure Business

When I first started out in business, I had no idea what I was getting myself into. After years of hard work and dedication, I am proud to say that in 2022 I have achieved 7-figure success. It was quite possibly one of the most challenging yet rewarding goals I have accomplished yet. I spent the last week in 2022 completely spent and exhausted with much time to reflect. From this journey, I have learned a great deal about what it takes to be a successful entrepreneur and millionaire.

Step by Step Guide on How To Set Up an LLC

So you’ve decided to take that next big step and start a business or side hustle. You have your idea, business plan and everything else in place but now need to make your business legitimate. Many small business owners decide to set up an LLC for the liability protection it provides. An LLC, or limited liability company, exists separately from its owners , and the owners are, therefore not personally responsible for business debts.

Professional FinancialDr. Patrice SmithFebruary 1, 2023business, dental start up, side hustle, elevenComment

Starting a Business When You’re the Stay-at-Home Parent

In many households, being a stay-at-home parent can be more advantageous than employment due to daycare costs, other obstacles, or the simple desire to be more involved in the lives of your younger children. Still, you may feel as though you could be doing more — such as running a business. There are actually many businesses you can operate successfully while being a stay-at-home parent.

Lifestyle & Travel, Professional FinancialDr. Patrice SmithJune 8, 2022business, entrepeneurship, nineComment

How To Launch Your Side Business Successfully In As Little As 14 Days

There's absolutely nothing wrong with having a job. Some people genuinely love what they do, where they work and the people they work with. But, what if you had more time to spend on the things that you are truly passionate about?

Tax Write-Offs For New Business Owners

As a new business owner, you may not know all the tax write-offs available to you. I sure did not, but with the help of my trusted CPA I am getting more and more familiar the more seasoned I become. I am going to share with you a few that I have come to know quite well over the last several months.

Professional FinancialDr. Patrice SmithNovember 17, 2021taxes, practice ownership, entrepeneurship, business, financial development, eightComment

Reasons Young Professionals Need a CPA

Spring is usually the time when we talk taxes! But, since 2020 has been an unprecedented year all around, tax time came a bit later this time. Taxes are a necessary evil that is the sobering reality for anyone earning a paycheck. But with each passing filing and with the rising trend of DIY everything, it seems like the younger generation are turning their backs on an accountant and instead trying to do it themselves.

Professional FinancialDr. Patrice SmithOctober 14, 2020Accountant, accounting, CPA, business, business strategy, Taxes, practice ownership, sixComment