The Entrepreneurship website OnStartups.com recently published an article about some of the harsh realities and misconceptions about starting your own business. Read the list below and follow this link to the article for more insight.
1. Your First Iteration of an Idea Will Be Wrong
2.Your Friends And Family Won't Understand What You Do
3. You Will Make Less Than Normal Wages For A While
4. Everything Takes Twice As Long...If It Even Happens
5. Titles Mean Nothing. You Will Be a Janitor
6. There Is No Silver Bullet
7. Customers Will Frustrate You
8. You Can't Do It All Yourself
9. There Is No Such Thing As An Overnight Success
10. Building A Team Is Hard
11. There Are Forces Outside Your Control
Also, don't forget about the GLCEDC partnership with SCORE to provide business advising to Livingston County small business owners and entrepreneurs. Visit the GLCEDC website for more information and contact our office to set up a business advising appointment.
Tuesday, November 2, 2010
Monday, October 25, 2010
Now Available - Illinois Small Business Tax Credit
Small Business Tax Credit now available
Small businesses that grow by creating a new position now through June 30, 2011, are likely to be eligible for the Small Business Job Creation Tax Credit. The web site at http://JobsTaxCredit.illinois.gov is an easy-to-use site for small businesses to register and apply for the tax credit without leaving the office - it also contains the statute, an FAQ and has contact information for further questions.
Small businesses that grow by creating a new position now through June 30, 2011, are likely to be eligible for the Small Business Job Creation Tax Credit. The web site at http://JobsTaxCredit.
Thursday, September 30, 2010
Livingston County and the US Dept of Energy
On September 23, the US Department of Energy published an article about recent economic development in Livingston County. Read an excerpt of the article below:
A car dealership in Dwight, Ill., shut down this year, but recently reopened its doors and 29 people kept their jobs.
Over in Collum, a grocery store that sat silent for three years recently awoke, creating six jobs. And a new coffee shop is now open in downtown Pontiac, bustling with customers sipping lattes and eating muffins.
So what breathed new life into these Livingston County businesses?
Surprisingly, it was the opening of the Streator Cayuga Ridge South Wind Farm, a 300 MW wind farm made possible with the help of $170 million through the U.S. Department of Energy's 1603 grants-in-lieu-of-tax-credits program to the developer.
Read the rest of the article here.
"We believe in economic gardening," says Larry Vaupel, director of the GLCEDC. "We try to grow our economy from within by nurturing businesses and providing financial assistance for start-ups and expansions."Friday, September 10, 2010
10 Mistakes That Start-Up Entrepreneurs Make
The Wall Street Journal recently published their top 10 mistakes that start-up entrepreneurs make. Here is the list:
1. Going it alone
2. Asking too many people for advice
3. Spending too much money on product development, not enough on sales
4. Targeting too small a market
5. Entering a market with no distribution partner
6. Overpaying for customers
7. Raising too little capital
8. Raising too much capital
9. Not having a business plan
10. Over-thinking your business plan
For a full description of each mistake, please view the article here. If you are a small business owner or entrepreneur, don't forget that the GLCEDC and SCORE provide free business advising every 3rd Wednesday from 9am - noon at the GLCEDC office in Pontiac. To set up an appointment, please contact the GLCEDC office by email: office@glcedc.org or by phone: 815-842-2900.
1. Going it alone
2. Asking too many people for advice
3. Spending too much money on product development, not enough on sales
4. Targeting too small a market
5. Entering a market with no distribution partner
6. Overpaying for customers
7. Raising too little capital
8. Raising too much capital
9. Not having a business plan
10. Over-thinking your business plan
For a full description of each mistake, please view the article here. If you are a small business owner or entrepreneur, don't forget that the GLCEDC and SCORE provide free business advising every 3rd Wednesday from 9am - noon at the GLCEDC office in Pontiac. To set up an appointment, please contact the GLCEDC office by email: office@glcedc.org or by phone: 815-842-2900.
Friday, July 30, 2010
News Release: AT&T Announces 3G Mobile Broadband Expansion for Pontiac Area
PONTIAC, Ill., July 28, 2010 — AT&T today announced an expansion of its third generation (3G) mobile broadband network for the Pontiac area, opening the door to a new era of mobile services, devices and feature-rich audio and video content for customers in the area.
The activation of 3G technology on more than five cell sites will enhance wireless coverage for residents and businesses in communities such as Chenoa, Dwight, Flanagan, Odell and Pontiac. A portion of Interstate 55 also runs through this area of Livingston County. These additional 3G sites build on AT&T’s Central Illinois expansions in Decatur, Champaign, Bloomington-Normal, Peoria and Springfield as part of the nation’s fastest 3G network.
AT&T is an industry leader in delivering the benefits of mobile broadband networks, devices and applications. With the nation’s fastest 3G network, AT&T provides accelerated mobile data speeds and simultaneous voice and data capabilities for an amazing wireless voice and data experience.
The network expansion for the Pontiac area is part of AT&T’s ongoing efforts to drive investment and innovation to deliver the nation’s best, most advanced mobile broadband experience for customers.
The announcement follows Gov. Pat Quinn’s signing of the state’s new, modern telecommunications law designed to attract private sector investment in broadband and wireless to meet consumer demands and attract jobs across all sectors of the Illinois economy.
“The state’s new, modern telecommunications policy passed unanimously by the General Assembly and signed into law by Gov. Quinn made Illinois an attractive place for AT&T to invest in broadband, wireless and emerging technologies,” said Paul La Schiazza, president, AT&T Illinois. “We applaud Gov. Quinn, the legislative leaders and the members of the Illinois General Assembly for their leadership in promoting broadband coverage and job creation in Illinois.
“Today's announcement ensures that more people in Illinois will have access to enhanced broadband technology, which is essential to expanding our 21st century economy,” said Gov. Quinn. “Illinois has created more new jobs than any other Midwestern state this year, and we'll continue putting people to work by encouraging new investment in the latest technologies.
Local legislators were essential in advancing the new telecom policy when it came to a vote in the General Assembly in May. AT&T recognized four local legislators for their support of the measure, State Sen. Dan Rutherford (D-Pontiac), State Rep. Shane Cultra (R – Onarga) and State Rep. Keith Sommer (R - Mackinaw).
Governor Quinn, Attorney General Lisa Madigan, the four legislative leaders ― Senate President John J. Cullerton, House Speaker Michael J. Madigan, Senate Republican Leader Sen. Christine Radogno and House Republican Leader Rep. Tom Cross ― as well as every member of the General Assembly worked to enact the new telecom law and has created a positive economic environment to attract business and retain and grow jobs.
Public Act 96-0927, which updates Illinois’ 25-year-old telecommunications law, was sponsored by State Rep. Kevin McCarthy (D – Orland Park) and State Sen. Michael Bond (D – Grayslake) and co-sponsored by State Rep. Mike Bost (R ― Murphysboro) and State Sen. Randy Hultgren (R ― Winfield). The law, which passed the General Assembly unanimously, was crafted to attract private sector investment in new technologies by leveling the playing field for all telecommunications providers. Gov. Quinn signed the legislation into law on June 15.
“The most important issue for our state is creating an environment where we can keep and create jobs and get our economy moving forward again,” said State Sen. Dan Rutherford . “This new law promised to bring more investment in new telecommunications technologies to Illinois and this great news announcement today delivers on that promise. Mobile broadband helps create job opportunities across all areas of the Illinois economy ― from health care and education to transportation and public safety."
For more information about AT&T’s 3G coverage in Illinois or anywhere in the United States, consumers can visit http://www.wireless.att.com/coverageviewer. The online tool can measure the quality of coverage based on a street address, intersection, ZIP code or even a landmark. For updates on the AT&T wireless network, please visit www.att.com/networknews
For more information, contact:
Eric Robinson
Wireless: 217-899-3434
E-mail: eric.robinson@att.com
The activation of 3G technology on more than five cell sites will enhance wireless coverage for residents and businesses in communities such as Chenoa, Dwight, Flanagan, Odell and Pontiac. A portion of Interstate 55 also runs through this area of Livingston County. These additional 3G sites build on AT&T’s Central Illinois expansions in Decatur, Champaign, Bloomington-Normal, Peoria and Springfield as part of the nation’s fastest 3G network.
AT&T is an industry leader in delivering the benefits of mobile broadband networks, devices and applications. With the nation’s fastest 3G network, AT&T provides accelerated mobile data speeds and simultaneous voice and data capabilities for an amazing wireless voice and data experience.
The network expansion for the Pontiac area is part of AT&T’s ongoing efforts to drive investment and innovation to deliver the nation’s best, most advanced mobile broadband experience for customers.
The announcement follows Gov. Pat Quinn’s signing of the state’s new, modern telecommunications law designed to attract private sector investment in broadband and wireless to meet consumer demands and attract jobs across all sectors of the Illinois economy.
“The state’s new, modern telecommunications policy passed unanimously by the General Assembly and signed into law by Gov. Quinn made Illinois an attractive place for AT&T to invest in broadband, wireless and emerging technologies,” said Paul La Schiazza, president, AT&T Illinois. “We applaud Gov. Quinn, the legislative leaders and the members of the Illinois General Assembly for their leadership in promoting broadband coverage and job creation in Illinois.
“Today's announcement ensures that more people in Illinois will have access to enhanced broadband technology, which is essential to expanding our 21st century economy,” said Gov. Quinn. “Illinois has created more new jobs than any other Midwestern state this year, and we'll continue putting people to work by encouraging new investment in the latest technologies.
Local legislators were essential in advancing the new telecom policy when it came to a vote in the General Assembly in May. AT&T recognized four local legislators for their support of the measure, State Sen. Dan Rutherford (D-Pontiac), State Rep. Shane Cultra (R – Onarga) and State Rep. Keith Sommer (R - Mackinaw).
Governor Quinn, Attorney General Lisa Madigan, the four legislative leaders ― Senate President John J. Cullerton, House Speaker Michael J. Madigan, Senate Republican Leader Sen. Christine Radogno and House Republican Leader Rep. Tom Cross ― as well as every member of the General Assembly worked to enact the new telecom law and has created a positive economic environment to attract business and retain and grow jobs.
Public Act 96-0927, which updates Illinois’ 25-year-old telecommunications law, was sponsored by State Rep. Kevin McCarthy (D – Orland Park) and State Sen. Michael Bond (D – Grayslake) and co-sponsored by State Rep. Mike Bost (R ― Murphysboro) and State Sen. Randy Hultgren (R ― Winfield). The law, which passed the General Assembly unanimously, was crafted to attract private sector investment in new technologies by leveling the playing field for all telecommunications providers. Gov. Quinn signed the legislation into law on June 15.
“The most important issue for our state is creating an environment where we can keep and create jobs and get our economy moving forward again,” said State Sen. Dan Rutherford . “This new law promised to bring more investment in new telecommunications technologies to Illinois and this great news announcement today delivers on that promise. Mobile broadband helps create job opportunities across all areas of the Illinois economy ― from health care and education to transportation and public safety."
For more information about AT&T’s 3G coverage in Illinois or anywhere in the United States, consumers can visit http://www.wireless.att.com/coverageviewer. The online tool can measure the quality of coverage based on a street address, intersection, ZIP code or even a landmark. For updates on the AT&T wireless network, please visit www.att.com/networknews
For more information, contact:
Eric Robinson
Wireless: 217-899-3434
E-mail: eric.robinson@att.com
Thursday, July 1, 2010
GLCEDC 1st Annual Golf Outing!
Please save the date and plan to join us at our 1st Annual Golf Outing teeing off on September 15. Information on sponsorship and registration will be in the mail in the coming weeks. This is an important fund raising event for our organization. You can always contact our office for more information on sponsorship by emailing: office@glcedc.org. We hope to have full participation of our members, so start putting together your foursome today!Keep up-to-date on all GLCEDC activities through our website: www.glcedc.org
Tuesday, June 15, 2010
Free Business Advising with SCORE
The GLCEDC will be hosting office hours with SCORE on Wednesday, June 23 from 9am - noon. Central Illinois SCORE is part of SCORE "Counselors to America's Small Business," a national nonprofit association dedicated to entrepreneur education and the formation, growth and success of the nation's small businesses.Central Illinois SCORE provides free and confidential business advice and counseling tailored to meet the needs of your small business and your personal objectives. SCORE volunteers are real-world professionals with time-tested knowledge who donate thousands of hours to help small businesses succeed. Counselors are experts in such areas as accounting, finance, marketing, management and business plan preparation.
If you are a small business owner or thinking about starting a business in Livingston County and are interested in SCORE advising, please call our office 815-842-2900 or email amy@glcedc.org to set up an appointment for June 23. If you cannot make the June 23 date please let us know that you are interested and we'll work out additional dates. Also, please review the information entitled "Planning Your Session" on the SCORE website before your advising appointment.
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