To be an entrepreneur is to be challenged everyday. Often times, you will be pushed to your limits, but the payoff can be one of life’s greatest pleasures. To help you through the entrepreneurial journey, here are 10 quotes all entrepreneurs should live by.

A simple business plan template to follow is to develop a “sniff test.” Hold up the fish (project) – if it doesn’t smell right, throw it away. This is simply a short-hand way to tell if a project is worth a more detailed look.

A Patent is a set of exclusive rights granted by the US Patent and Trademark Office (USPTO) or another internationally recognized organization to an inventor or assignee for an invention, product or process that provides a solution to a specific technological problem.

There has been a trend to try to create one overarching company mission statement. However, they often become “wall art” hanging in the office of little practical use in operating the company.

A series LLC is a unique form of limited liability company (“LLC”) in which the articles of formation specifically allow for unlimited segregation of membership interests, assets, and operations into independent ‘‘Protected Series’’

The military has developed a procedure for developing a plan, analyzing it and making a decision- the MET-T analysis is an effective, efficient way to evaluate your business and accomplish objectives.

Strategic thought requires thinking “conceptually” as opposed to “sequentially.”  Sequential thinking weighs the pros and cons of each step against its immediate surroundings. Conceptual thinking requires that each step be measured against the larger goal. Perhaps this is best understood with an analogy.  Imagine going on a trip from point “A” to point “B.”

After twenty-five years as an entrepreneur, the most common misunderstanding is the difference between “lifestyle” and “scalable” businesses.

Average and Marginal costs are both important concepts. However, pricing your product according to these costs mechanisms can lead to dramatically different results. Understanding what this means for your business is critical to your success.

We’ve all done it as children when working out a maze. Start from your endpoint and work backwards to the start. This same approach works for mapping out the path to startup success – Start from your endpoint and work backwards to the present.