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.
Posts By: Matthew Cleek
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How do we get there? Remember that your organization’s vision is the destination.
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?
How to protect yourself and your business startup when the partnership falls apart.
If this research were to uncover the ‘secret sauce’, entrepreneurs could prepare accordingly and drastically increase their probability of successfully acquiring the funding.
A fair number of really smart, well-prepared entrepreneurs get tripped up, stumble around and eventually fall to the ground when they make their startup funding pitches to the Angel Investment Group that I am a part of.
noun: value in a property, business, etc., that results from the work that a person does to improve it;
also : the work itself”
Many founders don’t consider this one until it’s too late. The excitement and adrenaline of getting started leads to a “kumbaya atmosphere” where all things are equal. This spills over into salaries. Sooner or later, the amount of time, effort and energy expended by the partners is no longer equal, but their salaries are. Tensions begin to rise.
The reality of life when it comes to business partnerships, and what’s at stake if your key man is removed from the company.
Every scalable startup will require external funding. A great team with an amazing idea where there is a clear demand is still doomed without the finances to make it happen.