Should you quit now because you’re wasting your time? If you look at many of the giant tech “unicorns” —private companies with over $1 billion valuation — and the major players in the public markets such as Apple, Microsoft, IBM, Google, and Amazon, you will find that the founders were often software or electrical engineers.
Investable companies don’t occur by accident. In fact, the opposite may be true; many companies may accidentally become un-investable.
It is essential to understand your organization’s dreams for the future, prior to coming up with the pretty words you put on paper and hang in conference rooms. So, how does an organization create an effective vision statement?
I am amazed at the number of privately held business partnerships that do not have a formal buy-sell agreement in place. This one is absolutely essential. When forming your business, you chose your partner; make sure you have some rights when it comes to who your partner will be as time goes on too.
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.
Delaware is a Corporate Oasis for Startup Entrepreneurs, Angels, Venture Capital and Private Equity Investors
There are many ways for a startup to fail. Some factors, like regulatory changes or input cost increases, are beyond the founder’s control. However, there are three significant actions that entrepreneurs are often guilty of that can kill your company as fast as anything.