Roy Huddle is our resident lawyer (and ping-pong enthusiast!) here at Business E Suites in Sugarland. Roy got his law degree from the University of Houston, and he might be the ONLY Family Law Attorney you will ever meet who is Pro-Marriage!

Before starting his practice, Roy dabbled as a real estate broker and worked on mortgage lending law. Anyone who knows Roy can tell you that those things were not his true passion. Roy lives to serve others, and although he can do that through any profession, family law is where he feels like he can truly use his strengths to impact people’s lives positively.

The way Roy works with his clients is fundamentally different than most family law attorneys. Roy is openly Christian, Pro-Marriage, and wants to help his clients heal their families and avoid divorces. This is what caused Roy to break off and start his own practice, to pursue what he feels is the right way to do things. When I asked Roy the most rewarding and most challenging times in his journey as an entrepreneur, both answers stemmed from this one big decision.

It was challenging because perhaps he made a move too quickly. Roy hadn’t learned all of the basic fundamental skills and in’s and out’s of family law. Even though he wanted to do things his own way, he could have benefitted from a little bit more time learning and absorbing the knowledge of other more experienced professionals.

In the end, though, it has been an enriching experience as Roy has helped multiple families stay together and grow and improve. It is something he might not have ever gotten to experience if he had stayed with his old job and followed the status quo. Having a job that aligns with your values and lets you positively impact the world is one of the most fulfilling things we can do.

Roy joined us at Business E Suites because he loved the sense of community in the office. It fits the type of environment of love and support that he wants to create within his own business. Also, as a lawyer, Roy needs to work long hours and sometimes late at night. Many other places did not offer the 24/7 access that he needed to get his work done correctly.

One piece of advice that Roy has for other business owners starting out: have a vision and pursue your ideals, but make sure to spend some time learning the industry before taking the leap on your own. He encourages everyone to try and find a mentor that can guide them on their journey.

We love having Roy here at Business E Suites, and we hope to continue building our vibrant community with more members like him.

Entrepreneurship is a more attainable goal than ever. Today, you can sell your products and services to an unlimited audience and, thanks to technology, have the option to work at home or on the go. Finding a place that is good for your productivity is as easy as connecting with Business E Suites. Whether you’re looking for privacy, a co-working space so you broaden networking opportunities, or meeting rooms for your entire team, they have solutions. Call 281-862-3150 to learn more.

First, take a look at the “sharing economy” and a few tips on how to grow your budding business — as well as three mistakes that can squash your success.

The world is your marketplace but not everyone is your customer

Even though you have access to a bottomless people pool, your actual customer base will be small by comparison. But, even a small group of buyers can render a lucrative career if you learn how to define your target market appropriately. You must choose a specific demographic considering factors such as age, income and occupation. For instance, if you specialize in designer wedding cakes that cost $500 or more, you will need to target couples with a sizable disposable income.

Grab your first gig and get started

Just like riding a bike, becoming a small business owner requires a first few wobbly attempts at perfection. Before you dive in, it’s a good idea to work a few side gigs to help you weed out any imperfections in your processes. Social media lends itself well to marketing yourself so you can get that first vital project — without dipping far into your budget.

Slow and steady wins the race

In Aesop’s The Tortoise and the Hare, there was an unlikely winner – the tortoise – who beat his adversary not by being the fastest, loudest competitor, but the one with the most drive and determination. The tortoise kept moving at a steady pace and, when the hare was comfortable enough to let his guard down, became victorious. Business is no different. If you want to succeed, you will need to keep your eye on the prize and work toward success. You may be the best at what you do, but if you take on too much or fail to consider the competition, you are doomed to come in last.

Considering the fact that 20 percent of all businesses fail within the first year and more than one-third by the end of year two, the odds may seem stacked against you. But there are a few things you can do to stack the proverbial deck in your favor. Start by avoiding three of the most common mistakes made by new entrepreneurs, especially those who choose to work from home as an independent contractor or small business owner.

1. Money mismanagement. Cash flow problems account for 82 percent of small business failures, according to Preferred CFO. These financial issues all come down to mismanaged funds. Avoid the temptation to use your newfound financial freedom to invest in yourself. Instead, funnel money into your entrepreneurial endeavor and learn how to price your product or service competitively. Do this for at least one year. Also ensure that you handle concerns like payroll properly; it’s all too easy to miss tax deadlines or not have the right amounts set aside to pay Uncle Sam. Fortunately, you can use a payroll app like Quickbooks to simplify concerns like withholding, direct deposit and tax deadlines. Assemble the right tools for keeping your books on track right from the start.

2. Poor working conditions. Your home office can be an asset or liability. On one hand, you have the freedom to work your own hours; on the other, you may have problems separating your working life from your personal life. Make sure you have the right equipment and set specific office hours for yourself. If you’ve never worked independently, you’ll also need to learn how to navigate distractions such as the refrigerator, social media and the laundry. Scott & Sons notes that something as simple as cleaning off your desk can go a long way toward boosting your productivity.

3. Hiring the wrong help. If you haven’t already and your business is growing, you will, eventually, need to take on employees. This is not a decision to be entered into lightly. While you might want to give your friends and family jobs, they may not be the right people for your business. Your employees are the face of your company whether you plan to stay local or go global. Choose them with care and based on experience, personality, and dedication to you and your business.

No one can guarantee your entrepreneurial achievements. But, if you focus on steady growth, financial responsibility and give yourself the tools you need to succeed, you’ll have a better chance at standing out from the crowd and becoming a samurai of the sharing economy.

Image via Pixabay

Hybrid workspaces combat the 9 am to 5 pm trend that has been the cornerstone of office working for years. Instead, they seek to create a balance between the social collaboration side of being in the office and the flexibility of working from home. Realistically, they are co-working spaces within the same company.

As we adapt to a new normal, the world of work is still evolving, with the concept of a hybrid workspace now emerging. Globally, 37% of companies say they expect more than half of their employees to work remotely on a permanent basis, according to Cisco’s Future of Secure Remote Work Report that surveyed more than 3,000 global IT decision-makers. In the U.S. and U.K., that figure rises to 50%; in Brazil and India, it’s 53%.

No matter what shape each organization’s workforce takes, COVID-19 has highlighted the need for flexibility and resilience. Most companies quickly realize that moving toward a hybrid workspace has even bigger benefits. While cost savings in the tens of millions (or more) are often realized by moving to this new environment, smart organizations are re-investing a portion of that savings back into the workplace. They are adding features that support employees, which leads to productivity improvements that drive better top-line results.

Here are some of the great benefits this new hybrid workspace trend has:

• It enables collaboration: Today’s companies demand unprecedented levels of productivity and innovation to stay competitive. Markets are being constantly disrupted by new players that bring better ideas, so having a modern workspace with the ability to create a diverse environment that encourages people to work together is the new office ideal.
• It attracts new talent: The war for talent is what most companies battle for nowadays, and recruiting the top-of-the-line talent in a modern workspace is a powerful weapon. You’re no longer competing with other companies for top candidates based on salary alone since you can offer a welcoming, efficient and effective workplace where people want to collaborate with others and accomplish their work.

Now the big question, how can companies get started implementing the hybrid workspace? Well, it’s possible to transform your current workspace but really for the best result is to achieve cultural changes and provide efficient, low-cost solutions like a move-in ready office space with all-inclusive amenities that make work enjoyable for your team with a built community and great perks that just makes it fun to come to work.

We have a suggestion for you, Business E Suites! It offers great workspace solutions for entrepreneurs and teams of all sizes. The best part is their move-in-ready office space, with month-to-month options and amazing perks within a community of professionals that have helpful insights on many industries. Need more information? Visit BusinessESuites.com or Call (281) 862-3150.

Business E Suites hosted its third Lunch and Learn Event featuring the topic: Business Funding with Telha Ghanchi, founder of Data Connections and Angel Investor. During these unprecedented times, funding and sustaining a business is one of our first questions as entrepreneurs, but the real mystery is understanding what funding options are available for us? Telha, a small business entrepreneur, tenant of Business E Suites, shared some insightful information about the type of funding a business can get.

What types of funding options are available?

• Trade equity or services for startup help.
• Join a startup incubator or accelerator.
• Solicit venture capital investors.
• Apply to local angel investor groups.
• Start a crowdfunding campaign.
• Request a small business grant.
• Pitch an idea to family or friends.
• Fund your startup yourself.

However, one of the most frequent questions, Telha gets is, “how do I find the money to start my business?” and the reality is that nobody is waiting in the wings to throw money just because you have a new and exciting idea. When seeking professional investors, put significant priority on your previous experience in building a business. They expect to own a portion of the business equity and possibly control the funds they provide. These are tough for a first-time entrepreneur, but it’s always worth exploring.

Learn about Telha Ghanchi