How to protect yourself and your business startup when the partnership falls apart.
How to Build a Winning Team
How to Create a Strategy, Vision and Mission
How to Create an Advisory Board
How to Get Funding
How to Improve Your Company
How to Improve Your Pitch
How to Start Your Company
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noun: value in a property, business, etc., that results from the work that a person does to improve it;
also : the work itself”
There are two key factors to consider in order to be great startup advice from outside experts: Pick the right team, and always know what you want before you ask.
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.
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.
All companies face risks, and startups are no exception. As you seek financing from third parties, remember that once financing is obtained, the resources of those outside investors now face the same risks as your personal resources.
If you can’t feed a team with two pizzas, then the team is too large. – Jeff Bezos. Investors want to invest in people more than products, because people make products.
Some entrepreneurs fail to leverage the knowledge and experiences of others by failing to create advisory boards. These boards are a critical component required to scale strong entrepreneurial opportunities.
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’’
Ultimately, the fit is as important to the advisory board candidate as it is to the entrepreneurs and the company. If it is learned that the fit doesn’t exist after the advisor has been on-boarded, it will likely turn out to be a waste of time for everyone.