Mr. Stacey Davis πŸ₯“(@MrStaceyDavis) 's Twitter Profileg
Mr. Stacey Davis πŸ₯“

@MrStaceyDavis

Self-employment = Freedom. I Tweet about small business news & business ownership strategy. Sharing 30+ years of small business experience. FREEDOM!

ID:1557513084050219008

linkhttps://mrstaceydavis.com calendar_today10-08-2022 23:44:21

1,3K Tweets

686 Followers

356 Following

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Despite making up 32% of the population, minority-owned businesses are only 18% of total businesses, per the U.S. Census Bureau.

If you need help starting your business, reach out.

I love helping good people start good biz.

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Are business degrees overrated for small business success? πŸŽ“πŸ’Ό

I don't have a business degree...my degree is in engineering.

Do you have a degree? Has it helped you in business?

Share your journey.

Student

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Technology is a double-edged sword.

While it offers unprecedented opportunities for growth, reliance on outdated tech can hinder your business more than you think.

Stay updated, stay ahead. πŸ’»

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Don't overlook the legalities of starting a business.

From registrations to trademarks, the legal foundation of your startup is crucial for its survival and growth. πŸ“œ

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Pricing your products/services too low can be as detrimental as pricing them too high.

Competitive pricing is key to entering and staying in the market. Know your worth and your market's tolerance. πŸ’°

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Sustainability vs. Profit on Earth Day.

Business Owners, can small businesses afford to go green without breaking the bank?

Consumer, do you value a small business that is very green-forward?

2024

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Underestimating the importance of marketing is where many new entrepreneurs trip.

It's not just about having a great product; it's about making sure the right people know about it. πŸ“£

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A recent survey suggested that 46% of small business owners are franchisees who either start a new franchise location (35%) or purchase an existing business (11%).

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Comcast RISE To Provide Grant Packages to 500 More Small Businesses in Five Regions.

Comcast RISE has awarded 13,500 small businesses with over $125 million in monetary, marketing, and technology grants.

Beginning on May 1, and through May 31, eligible businesses in Atlanta,

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Sometimes starting a business is like riding a bike.

Except the bike is on fire, you're on fire, everything's on fire, and you're in hell. But hey, at least you're moving! πŸ”₯πŸš΄β€β™‚οΈ

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According to Hostinger's 2024 report, the average annual income for a small business owner in the U.S. is about $69,111.

Experience matters. Entry-level owners earn around $34,000 per year and entrepreneurs with 20 years or more of experience make around $75,000 annually​.

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Labor costs are the largest expense for small businesses, consuming 70% of their operating expenses on employee wages and bonuses.

Inventory comes in as the second biggest source of spending, accounting for 17-25% of a company’s total budget.

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Most business plans are a mix of a brilliant breakthrough and making it up as you go.

Spoiler: It's mostly the second one.

Stay flexible and park your ego at the start line for your business launch.

And if you need help, contact me.

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Women of color are the fastest-growing group of entrepreneurs in the US, starting businesses at 4.5 times the national average per American Express. πŸ‘©πŸ½β€πŸ’ΌπŸ”₯

If I can help, just Google Mr. Stacey Davis.

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Over 50% of small businesses fail within the first five years...but more than 95% of small tech startups fail within the same timeframe.

Tech startups are hard. Right?

Ideas

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Deduct vehicle expenses if used for business. Keep logs and choose the right method. We use our smart phones to track and map our business trips. Remember: Not tax advice; see a tax professional for guidance. πŸš—

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