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.
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How to Create a Strategy, Vision and Mission
How to Create an Advisory Board
How to Get Funding
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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.
Board resolutions are numerous issues to address as one creates and establishes a new company.
We often think of business as a special function. In reality, it operates in much the same way normal things around us do. In fact, the concepts behind Newton’s Three Laws of Motion are as applicable to business tips as they are to physics.
“The single biggest problem in communication is the illusion that it has taken place.”– George Bernard Shaw
Every company is composed of individuals with different skill sets and has different roles that must be filled in order to succeed.
Advisory Board compensation is an important consideration. How much is right? Does this change over time? Is there a vesting period?
Stephanie Vozza has spoken of the six lessons gleaned from entrepreneurs’ experience (Fast Company). It was illuminating to evaluate how our startup company (FundingSage) and its founders dealt with these business improvement issues.
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.