Unless you are an exceptional person, you are a natural critic. From an early age, we have learned to analyze and criticize anything new. Now that we are adults, being critical is a second nature. We are experts at it. What is your typical first impression when someone proposes a...
Management
There may be many great minds behind a concept or idea, but the entire business lies on planning and strategizing appropriately. Any bad leader or an entrepreneur might screw up the entire thing hence, it becomes important to master certain key skills to not only make the business successful in...
Most problems can be categorized according to how much structure they possess. For instance, if your problem is well-structured, you will have a clear idea of how to solve it. You would know your current state, the desired state, and how to close the gap. The previous problem, running out...
Three outstanding characteristics about successful entrepreneurs are that they are fast, focused, and flexible. In many ways the Internet holds out the promise of making the playing field more level for startups and smaller, emerging businesses. An attractive compelling Web site is often judged on its own terms and can...
Leading marketing practices of fast-growth firms Deliver products and services that are perceived as high quality for expanding segments. Cultivate pacesetting new products and services that stand out in the market as the best breed. iii. Deliver product and service benefits that demand average or higher market pricing. Generate...
A worker is an employee if he or she: Must follow the employer’s instructions about how to do the work. Receives training from the employer. Provides services that are integrated into the business. Provides services that must be rendered personally. Cannot hire, supervise, and pay his or her own...
[contact-form][contact-field label=”Name” type=”name” required=”true” /][contact-field label=”Email” type=”email” required=”true” /][contact-field label=”Website” type=”url” /][contact-field label=”Message” type=”textarea” /][/contact-form] Anew business typically does not have the resources to pay for all the management staff that may be necessary to keep it running. In fact, most entrepreneurs try to avoid hiring employees as long as...
The advisory board is an informal panel of experts and other people who are interested in seeing the new venture succeed. They are a useful and less costly alternative to a formal board of directors, Advisory boards can range from those that meet once or twice a year and do...
The decision to have a board of directors is influenced by the legal form of a business venture. If the new venture is a corporation, a board of directors is required and is elected by the shareholders. If the business needs venture capital, a board will be necessary, and the...
Most entrepreneurs overlook the value of a relationship with a competent insurance agent, but a growing venture will require several types of insurance: Property Medical Errors and Omissions Life (on key managers) Workers’ Compensation Directors and Officers Unemployment Auto (on the firm’s vehicles) Liability (product and personal) Bonding Major insurance...
