For many, it’s hard to make the switch from that top-down order-giving culture, and it’s hard to find the time to recruit and coach the new team members you need to scale the business to success. Many new businesses fail at this stage because they don’t build the required team culture to keep teams engaged and committed, and founders burn out trying to do too much.
As a Founder, when do I get a raise? Everyone else seems to know that every year we (try) to give everyone an annual bonus, and when market conditions are such, a significant jump. But when does that filter back to my wallet? How do I establish reasonable expectations for myself?
Every smart entrepreneur needs to realize that trying to treat every customer the same, with limited resources, may mean that you are treating them all poorly, or at least limiting your own growth.
Secondary stock sales have become an increasingly popular mechanism for rewarding the founders who achieved significant growth in their business but what are they? Here’s what you need to know.
Traditional advertising has done one thing really, really well over the past 70 years. It’s stolen attention. What I mean by that is, advertising was created to take time away from content consumption and shift it to brand/product awareness. Gary Vee shares more…
Entrepreneurs tend to continually narrow the scope of potential competitors, and often claim to have no direct competitors. This raises a big red flag with potential investors, who conclude that no competitors means no market, or you haven’t looked, and the new startup is likely not investable.
Is there any downside to selling a startup? I always read the big headlines about how much Founders sold for, but after that, I never really hear from them about how it went. Is there a cost to selling a startup that no one talks about?
I am sure many of you have used Google Trends in the past. But, for those of you that are not aware of this terrific tool, now is the time to learn how valuable it can be for your business.
I believe that most entrepreneurs today, at least in the technology domains I frequent, still work in the business (“Technician’s Perspective”), rather than on the business (“Entrepreneurs Perspective”).
We’re starting to make some money — that was the point, right? Now, what do we do with all this cash? Should we re-invest it in growth or pocket it and live like (very poorly paid) kings? We don’t want to slow our growth but we also want to make sure this thing stays viable!
I’m always surprised by how many entrepreneurs are looking for funding without outside advisors. An experienced Board can give them credibility, as well as advice on the many pitfalls of starting a new company. Especially if you are a first-time business owner, the payback for this initiative is well worth the effort and cost.