Employer Identification Number (EIN) – Explained

by TheBusinessProfessor | Feb 23, 2025 | Business Taxation

What is an Employer Identification Numbers (EIN)?The employer identification number is the method by which businesses transmit tax information to the State and Federal Governments. The Federal Employer Identification Number (FEIN) is issued by the Internal Revenue...

Building Business Credit – Explained

by TheBusinessProfessor | Feb 23, 2025 | Strategy, Entrepreneurship, & Innovation

What is Business Credit? Business credit is the ability of a business to borrow money. It can be in the form of a credit card or line of credit. Why Establish Business Credit?Early in the life of a business, founders generally have to guarantee any loans or lines of...

Lifestyle Business vs Startup Venture – Explained

by TheBusinessProfessor | Feb 23, 2025 | Strategy, Entrepreneurship, & Innovation

What are Some Types of Entrepreneurship?Entrepreneurship is one of the oldest, and often least understood, areas of business. The first step in becoming an entrepreneur is learning the main types of entrepreneurship for new businesses. The two concepts discussed in...

Business URLs and Social Media Handles – Explained

by TheBusinessProfessor | Feb 23, 2025 | SEO, Social Media, Direct Marketing

Why Secure Website URLs?When starting a business, many people often forget to determine if the name of your business is available for a custom URL (E.g., http://TheBusinessProfessor.com) Your website is a calling card for your business. People need to be able to...

Master Checklist for a Startup Venture

by TheBusinessProfessor | Feb 23, 2025 | Strategy, Entrepreneurship, & Innovation

Master Checklist for Starting A VentureEntrepreneurship is more of a winding path than a stairwell. Nonetheless, the overall process tends to hold true between entrepreneurial ventures. Please use the checklist below to help guide you through the maze that is...

Is Entrepreneurship a Gamble?

by TheBusinessProfessor | Feb 23, 2025 | Strategy, Entrepreneurship, & Innovation

I was recently talking with a colleague about the growth of entrepreneurship in the United States over the past 4 years. I asked if he ever considered being part of an entrepreneurial venture. As an experimental economist, he always has a methodical and insightful way...

Startup vs Lifestyle Business – Explained

by TheBusinessProfessor | Feb 23, 2025 | Strategy, Entrepreneurship, & Innovation

What is a Startup? Entrepreneurship is one of the oldest, and often least understood, areas of business. As a professor of entrepreneurship, I am constantly looking for teaching points that commonly misunderstood by students. The first point that we cover in my course...

Conduct and Use Market Research

by TheBusinessProfessor | Feb 23, 2025 | Principles of Marketing

In my entrepreneurship course, I teach a variety of tools that are useful, if not essential, in planning a startup venture. Recently, one of my students asked me what I believe to be the most important part of planning a startup venture. I didn’t hesitate for a...

Businesses Have Social Impact

by TheBusinessProfessor | Feb 19, 2025 | Uncategorized

Businesses are often criticized for their impact on society. Many people view corporations as polluters, job-cutters, or profit-driven entities that prioritize shareholders over employees and communities. But is this perception entirely fair? While businesses do...

Gamification in Business Education

by TheBusinessProfessor | Feb 18, 2025 | Uncategorized

Gamification has become a buzzword in education, particularly in business schools, where engaging students in complex concepts can be challenging. By incorporating game-like elements—such as points, rewards, and interactive scenarios—gamification aims to make learning...