More than 500,000 new businesses are started across the country each year. But within five years, about 50% of those start-ups will remain open for business. Entrepreneurs who manage to overcome hurdles during those first few years have a greater chance of long-term success.
Now, there is a virtual tool box to help with the learning curve so that businesses thrive and survive tough economic times. From college grads to aspiring entrepreneurs to seasoned business owners, Business Accelerator from American Family Insurance, a provider of commercial insurance products, allows entrepreneurs in all stages of their business life cycle to take advantage of free business tools and coaching.
Whether a business is a start-up, seeking new growth opportunities, or looking for a buyer, it will encounter many challenges along the way, says Francisca Brown, multicultural marketing manager. Many entrepreneurs succeed through business coaching, she adds.
Business Accelerator provides live and on demand monthly articles and presentations from business owners and professionals, highlighting trends, strategies, and best practices. The free online resource covers four core business areas: marketing, sales, finance and operations, and leadership and growth. In addition, it offers opportunities for entrepreneurs to grow their businesses through games, contests and prizes.
Registered members will be able to interact with industry experts and small business visionaries during podcasts and live webcasts as well as a LinkedIn discussion group.
Featured content includes interviews with a broad mix of successful entrepreneurs including Lisa Price, founder and CEO of Carol’s Daughter, a line of skincare products, body and bath scrubs, moisturizes and cleansers and hair care products all made from natural oils and fragrances.
“Being an entrepreneur is one of the best journeys one can take. It requires passion, belief, faith and spirit. I have become a much stronger person through building my business than I would have building someone else’s,†says Price.
Carol’s Daughter is a natural beauty and hair care line founded in 1993 by the Brooklyn, New York native. The company is lovingly named after her mother. Record executive Steve Stoute was the lead investor who reportedly raised $10 million to back the venture. Other investors include Will and Jada Pinkett-Smith, and Mary J. Blige.
Price, 49, transformed her hobby of mixing fragrances at home, selling natural beauty products from her living room, into a beauty empire. Today, her beauty brand is a reportedly $50 million company whose products are sold in more than 1,000 locations including Carol’s Daughter stores, Macy’s, Sephora and HSN.
At Business Accelerator, Price shares some of her secrets for how to “do away with fear.â€
“There are always times in your business when you are afraid. I don’t believe that ever goes away. What you are afraid of is different.â€
Being courageous as an entrepreneur means standing in the face of fear and moving forward. “Confidence is something that you build over time,†adds Price, who graced the cover of the 2013 January/February issue of Black Enterprise, as part of a special report on the business of natural hair.
To learn more or to register for Business Accelerator, visit www.amfambusinessaccelerator.com