Of course, we are speaking of increased valuation of your company when we speak of “wealth.” Especially if you are in the early stage of growing a business, these five risks can and often do derail entrepreneurs before realizing the riches of a great exit. So, let’s examine them and mitigate them. Make you wealthy someday. […]
Startup
Oh, Go Ahead and Ask for a $5 Million Investment in Your Startup
I cannot tell you how many times I have seen executive summaries of business plans in which the entrepreneur seeks $5,000,000 to build the business. Four reasons you should reconsider. First, few startups can use that much money today with all the virtual services available and increasingly inexpensive methods of development, prototyping and marketing. Second, almost […]
Don’t Despair While Building a Sustainable Business
Entrepreneurs seem more quickly frustrated these days when their “million-dollar idea” doesn’t turn into a sustainable business overnight. They don’t realize that it takes many skills to build a business under the best of circumstances, and today’s world of instant gratification doesn’t leave room for the patience and practice to develop these skills. Successful sports […]
6 Startup Success Tips from HoloBuilder, Construction’s “It” App
The dream of all developers is that their product, after months or years of work, sees the light of day and becomes an indispensable tool. Few developers experience that, but even fewer achieve the success of the innovative program HoloBuilder. Just a few years ago, computer-science lecturer Mostafa Akbari, together with cofounder Simon Heinen, launched the […]
Alternative Funding: What Can My Business Get?
Running and maintaining a successful business is hard work. It is exciting starting and working on a new venture, however, keeping things ticking over requires constant effort and even more importantly, continuous financial backing. Cash is king and having a healthy flow of cash throughout a business is essential. Even with the best business models, […]
8 Keys to Convincing a Bank to Fund Your New Venture
A common question I get is “How do I get a bank loan to fund my startup?” The default answer is that it probably won’t happen, because most banks just don’t make bank loans to startups. The failure rate is just too high, and startups typically don’t have the assets or revenue stream to back […]
8 Steps to Assembling the Most Talented Startup Team
With the pace of change ever escalating, entrepreneurs today can’t afford to acquire talent through traditional hiring alone, and need to revise the perception that “talent” is only full-time employees. At the same time, more people in the workplace don’t want to be “employees.” According to an Intuit study, that number is quickly rising and will […]
Business Location Strategies for Startups and New SMEs
In How to Choose a Location for Your Small Business, I discussed picking a location based on customer and other factors, without considering the importance of search engine visibility. However, having a location strategy is as important as choosing a good location for customers and staff. In a business environment where search engine visibility is […]
8 Ways to Instill a Sense of Purpose in Your Startup
Starting a new venture and thriving in today’s economy is hard, but the best have figured out that customers and employees need to feel that you have a sense of purpose, to complement the company’s pursuit of profit. A higher purpose motivates people in a way that financial wins alone never will. For a company […]
Startup Dilemma: E-Commerce vs. M-Commerce
Ever since the Netscape graphical web browser transformed the way we access the internet, retail entrepreneurs and developers have been redefining the way we purchase goods. We have come a long way since Amazon started out as an online bookstore and eBay was an internet platform for auctioning off garage sales items; in 2018, e-commerce […]
