Entrepreneurs tend to be action oriented with an urgency to “get it done” and see progress. However, we often fail to take the initial steps necessary to assess the idea and the market.

Investable companies don’t occur by accident. In fact, the opposite may be true; many companies may accidentally become un-investable.

Seasoned entrepreneurs recognize the value of advisory boards. Taking the time to gain a comprehensive understanding can result in significant benefits to the scalable start-up.

1. Growing old while building a startup company will mature both you and the business.

Concept stage startups are usually funded by entrepreneurs, family, friends and individual angels. An opportunity has presented itself to you, an idea for a scalable business you see clearly in your mind. How much is your idea worth?  It all depends on what you do with it.

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.

Any entrepreneur who is serious about his trade will need to know about the term sheet.

noun: value in a property, business, etc., that results from the work that a person does to improve it;
also : the work itself”

How to protect yourself and your business startup when the partnership falls apart.

“A term sheet is like a prenuptial agreement and a coach’s playbook. Spend the time to understand the plays, and what happens should you ever separate from the business.”- Mitch Thrower