There are many motives to start a business. In a market system at its simplest form, the purpose of a business is to make money. However, you must never forget your “raison d’être,” your company’s real reason for being.
There are many motives to start a business. In a market system at its simplest form, the purpose of a business is to make money. However, you must never forget your “raison d’être,” your company’s real reason for being.
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.
Every company is composed of individuals with different skill sets and has different roles that must be filled in order to succeed.
Average and Marginal costs are both important concepts. However, pricing your product according to these costs mechanisms can lead to dramatically different results. Understanding what this means for your business is critical to your success.
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.
Board resolutions are numerous issues to address as one creates and establishes a new company.
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.
Advisory Board compensation is an important consideration. How much is right? Does this change over time? Is there a vesting period?
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.
Starting a scalable company is a daunting task. This will challenge even the most experienced management team. The team’s success requires a complete understanding of the issues and risks it faces in its quest to succeed.