PLANNING AND ALIGNMENT: SIX ESSENTIAL PROCESSES FOR GROWTH You should view it as a whole system, rather than as individual parts. There are three fundamental sets of processes that build a growth-oriented infrastructure: (1) processes for managing and leading people, (2) processes for management and control, and (3) processes

for planning and

EIGHT ELEMENTS OF AN ETHICAL ORGANIZATIONGET STARTEDLEGAL Honor: Good people are a fundamental part of good ethics. They are also great ambassadors for doing things right. Give special attention to strong performers and people who exemplify the spirit of your organization. Most companies recognize top achievers and

VALUE PROPOSITION

A value proposition is a valuable tool to guide your marketing efforts. Here are some benefits that you will receive by having a clear, compelling value proposition: Create a strong differentiation between you and your competitors. Increase not only the quantity but also the quality of prospective leads. Gain market share in your

targeted segments.

STRATEGIES FOR EFFECTIVE PARTNERING RELATIONSHIPS Strategies for Effective Partnering Relationships. Partnering relationships involve two or more companies working together to achieve a specific purpose or toward the attainment of common business objectives. Joint ventures, strategic partnering, cross-licensing, co-branding, and technology transfer agreements are all examples of

partnering

NAVIGATING ENTREPRENEURIAL PEER-TO-PEER ORGANIZATIONS The role that peer-to-peer groups play in supporting our economy is also growing in importance. Young Entrepreneurs’ Organization began with only 20 members in 1987; by 2004, its membership had exploded to more than 5,500 worldwide. If you are currently involved in a peer-to-peer network or are considering joining such a group, you

should

THE THREE LEGGED STOOL THEORY OF BUILDING A BUSINESS And, frankly, a little insane. This is the analogy Jason Johnson, founder of August and one of our Founder Genius, used to describe trying to build a business without slowing down to properly fit the three essential legs: team, product/service and distribution. “Team, of course, you know good people that like to problem solve and can

work

ADDRESS YOUR LIMITATIONS AND REDUCE YOUR LIABILITIES Address Your Limitations and Reduce Your Liabilities. In addition to protecting your intellectual property, you need to periodically review another way of protecting your business—analyzing the ability of your company to produce products, deliver services, and create new products and services. EVALUATING AND SELECTING A STRATEGIC PARTNER Picking a good alliance partner is a lot like finding the right tennis partner — find the right one you win; pick the wrong one you lose. Strategic alliances can deliver significant benefits to startups including reducing your time to market, providing to strategic markets

and

CULTIVATING GOOD CUSTOMER AND VENDOR RELATIONSHIPS Managing cash flow can be tricky, but building strong relationships with everyone involved in your business can make that task easier. The Founder of the Louis J. Grasmick Lumber Co. has discovered that managing revenue becomes easier when you have a loyal customer base and carefully selected accounts. He shares his view on creating revenue through emphasizing the importantce of strong COMMUNICATING AN ACQUISITION TO EMPLOYEES Communicating an Acquisition to Employees. Acquisitions are stressful for employees. Deciding what to tell my employees, and when, was a tricky decision for me when I sold TEAL Electronics. First, I thought of a number of reasons to tell them right away: We encouraged a culture of honesty, and hiding (or worse, lying about) acquisition

talks

PLANNING AND ALIGNMENT: SIX ESSENTIAL PROCESSES FOR GROWTH You should view it as a whole system, rather than as individual parts. There are three fundamental sets of processes that build a growth-oriented infrastructure: (1) processes for managing and leading people, (2) processes for management and control, and (3) processes

for planning and

EIGHT ELEMENTS OF AN ETHICAL ORGANIZATIONGET STARTEDLEGAL Honor: Good people are a fundamental part of good ethics. They are also great ambassadors for doing things right. Give special attention to strong performers and people who exemplify the spirit of your organization. Most companies recognize top achievers and

VALUE PROPOSITION

A value proposition is a valuable tool to guide your marketing efforts. Here are some benefits that you will receive by having a clear, compelling value proposition: Create a strong differentiation between you and your competitors. Increase not only the quantity but also the quality of prospective leads. Gain market share in your

targeted segments.

STRATEGIES FOR EFFECTIVE PARTNERING RELATIONSHIPS Strategies for Effective Partnering Relationships. Partnering relationships involve two or more companies working together to achieve a specific purpose or toward the attainment of common business objectives. Joint ventures, strategic partnering, cross-licensing, co-branding, and technology transfer agreements are all examples of

partnering

NAVIGATING ENTREPRENEURIAL PEER-TO-PEER ORGANIZATIONS The role that peer-to-peer groups play in supporting our economy is also growing in importance. Young Entrepreneurs’ Organization began with only 20 members in 1987; by 2004, its membership had exploded to more than 5,500 worldwide. If you are currently involved in a peer-to-peer network or are considering joining such a group, you

should

THE THREE LEGGED STOOL THEORY OF BUILDING A BUSINESS And, frankly, a little insane. This is the analogy Jason Johnson, founder of August and one of our Founder Genius, used to describe trying to build a business without slowing down to properly fit the three essential legs: team, product/service and distribution. “Team, of course, you know good people that like to problem solve and can

work

ADDRESS YOUR LIMITATIONS AND REDUCE YOUR LIABILITIES Address Your Limitations and Reduce Your Liabilities. In addition to protecting your intellectual property, you need to periodically review another way of protecting your business—analyzing the ability of your company to produce products, deliver services, and create new products and services. EVALUATING AND SELECTING A STRATEGIC PARTNER Picking a good alliance partner is a lot like finding the right tennis partner — find the right one you win; pick the wrong one you lose. Strategic alliances can deliver significant benefits to startups including reducing your time to market, providing to strategic markets

and

CULTIVATING GOOD CUSTOMER AND VENDOR RELATIONSHIPS Managing cash flow can be tricky, but building strong relationships with everyone involved in your business can make that task easier. The Founder of the Louis J. Grasmick Lumber Co. has discovered that managing revenue becomes easier when you have a loyal customer base and carefully selected accounts. He shares his view on creating revenue through emphasizing the importantce of strong COMMUNICATING AN ACQUISITION TO EMPLOYEES Communicating an Acquisition to Employees. Acquisitions are stressful for employees. Deciding what to tell my employees, and when, was a tricky decision for me when I sold TEAL Electronics. First, I thought of a number of reasons to tell them right away: We encouraged a culture of honesty, and hiding (or worse, lying about) acquisition

talks

ADAPTING TO THE MARKET Adapting to the Market. 01/18/2007. By FastTrac. To be successful—and stay successful—your business must carefully adapt its products or services in response to the market. For some businesses, this means highlighting different benefits of the product or service to the market. For others, this necessitates modifications to existing products THE VALUES THAT SUSTAIN ENTREPRENEURS By thinking of themselves as brave, visionary, respectful, trustworthy, honest, generous, and fortitudinous, entrepreneurs can maintain the “True North” direction in their lives and companies that Stephen Covey talks about in his book, Principle-Centered Leadership. I like the set of values that emerged from the Native

American community.

INTRODUCTION TO PRIMARY RESEARCH Although sometimes costly and time-consuming, conducting your own primary research can deliver specific results that are usually the most timely and relevant to your business. ADDRESS YOUR LIMITATIONS AND REDUCE YOUR LIABILITIES Address Your Limitations and Reduce Your Liabilities. In addition to protecting your intellectual property, you need to periodically review another way of protecting your business—analyzing the ability of your company to produce products, deliver services, and create new products and services. THE THREE LEGGED STOOL THEORY OF BUILDING A BUSINESS And, frankly, a little insane. This is the analogy Jason Johnson, founder of August and one of our Founder Genius, used to describe trying to build a business without slowing down to properly fit the three essential legs: team, product/service and distribution. “Team, of course, you know good people that like to problem solve and can

work

MANAGING AND MEASURING THE VALUE OF PARTNERSHIPS Managing and Measuring the Value of Partnerships. Establishing a long term strategic partnership has often been compared to getting married, and there are some similarities. The partners should spend enough time to get to know each other before tying the knot; there has to be a foundation of mutual trust and respect for the relationship to MERGERS AND ACQUISITIONS: AN INTRODUCTION Mergers and acquisitions are among the most effective ways to expedite the implementation of a plan to grow rapidly. Companies in all industries have grown at lightning speed, in part because of an aggressive merger and acquisition strategy. The impact of technology and the Internet has only further increased the pace and size of

deals.

UNDERSTANDING LEGAL AND STRUCTURAL ISSUES IN ESTABLISHING Understanding Legal and Structural Issues In Establishing Sales and Distribution Channels. Many growing entrepreneurial companies choose to offer their products and services to the marketplace through independent third-party distributors and dealerships. Manufacturers of electronic and stereo equipment, computer hardware and software,

sporting

WHAT MAKES YODA SO GOOD? HOW TO BE AN EFFECTIVE MENTOR Mentors help us confront adversity, seize opportunity, learn from mistakes, understand our strengths and grow as leaders. Learn how to be an effective mentor to other entrepreneurs. (Published Oct 2002) COMMUNICATING AN ACQUISITION TO EMPLOYEES Communicating an Acquisition to Employees. Acquisitions are stressful for employees. Deciding what to tell my employees, and when, was a tricky decision for me when I sold TEAL Electronics. First, I thought of a number of reasons to tell them right away: We encouraged a culture of honesty, and hiding (or worse, lying about) acquisition

talks

EIGHT ELEMENTS OF AN ETHICAL ORGANIZATIONGET STARTEDLEGAL Honor: Good people are a fundamental part of good ethics. They are also great ambassadors for doing things right. Give special attention to strong performers and people who exemplify the spirit of your organization. Most companies recognize top achievers and

VALUE PROPOSITION

A value proposition is a valuable tool to guide your marketing efforts. Here are some benefits that you will receive by having a clear, compelling value proposition: Create a strong differentiation between you and your competitors. Increase not only the quantity but also the quality of prospective leads. Gain market share in your

targeted segments.

ADAPTING TO THE MARKET Adapting to the Market. 01/18/2007. By FastTrac. To be successful—and stay successful—your business must carefully adapt its products or services in response to the market. For some businesses, this means highlighting different benefits of the product or service to the market. For others, this necessitates modifications to existing products DETERMINE MARKET POTENTIAL Determine Market Potential. 09/20/2006. By FastTrac. More like this: Entrepreneurial Life. You have an idea for a business. Now what? Kauffman FastTrac can help you clear the path from idea to business start. Access the tools, resources and guides necessary to start and grow your business — anytime, all online, at your own pace. Try

FastTrac.

MERGERS AND ACQUISITIONS: AN INTRODUCTIONSEE MORE ON ENTREPRENEURSHIP.ORG STRATEGIES FOR EFFECTIVE PARTNERING RELATIONSHIPS Strategies for Effective Partnering Relationships. Partnering relationships involve two or more companies working together to achieve a specific purpose or toward the attainment of common business objectives. Joint ventures, strategic partnering, cross-licensing, co-branding, and technology transfer agreements are all examples of

partnering

MONITORING AND CONTROLLING MARKETING Monitoring and Controlling Marketing. Some marketing activities require several attempts before determining if they are worthwhile. Since consistent exposure over time yields better results, repeat the marketing activity several times for six months or even a year before making a decision to cancel an ad or try something new. Keep records

of

ADDRESS YOUR LIMITATIONS AND REDUCE YOUR LIABILITIES Address Your Limitations and Reduce Your Liabilities. In addition to protecting your intellectual property, you need to periodically review another way of protecting your business—analyzing the ability of your company to produce products, deliver services, and create new products and services. NAVIGATING ENTREPRENEURIAL PEER-TO-PEER ORGANIZATIONS The role that peer-to-peer groups play in supporting our economy is also growing in importance. Young Entrepreneurs’ Organization began with only 20 members in 1987; by 2004, its membership had exploded to more than 5,500 worldwide. If you are currently involved in a peer-to-peer network or are considering joining such a group, you

should

COMMUNICATING AN ACQUISITION TO EMPLOYEES Communicating an Acquisition to Employees. Acquisitions are stressful for employees. Deciding what to tell my employees, and when, was a tricky decision for me when I sold TEAL Electronics. First, I thought of a number of reasons to tell them right away: We encouraged a culture of honesty, and hiding (or worse, lying about) acquisition

talks

EIGHT ELEMENTS OF AN ETHICAL ORGANIZATIONGET STARTEDLEGAL Honor: Good people are a fundamental part of good ethics. They are also great ambassadors for doing things right. Give special attention to strong performers and people who exemplify the spirit of your organization. Most companies recognize top achievers and

VALUE PROPOSITION

A value proposition is a valuable tool to guide your marketing efforts. Here are some benefits that you will receive by having a clear, compelling value proposition: Create a strong differentiation between you and your competitors. Increase not only the quantity but also the quality of prospective leads. Gain market share in your

targeted segments.

ADAPTING TO THE MARKET Adapting to the Market. 01/18/2007. By FastTrac. To be successful—and stay successful—your business must carefully adapt its products or services in response to the market. For some businesses, this means highlighting different benefits of the product or service to the market. For others, this necessitates modifications to existing products DETERMINE MARKET POTENTIAL Determine Market Potential. 09/20/2006. By FastTrac. More like this: Entrepreneurial Life. You have an idea for a business. Now what? Kauffman FastTrac can help you clear the path from idea to business start. Access the tools, resources and guides necessary to start and grow your business — anytime, all online, at your own pace. Try

FastTrac.

MERGERS AND ACQUISITIONS: AN INTRODUCTIONSEE MORE ON ENTREPRENEURSHIP.ORG STRATEGIES FOR EFFECTIVE PARTNERING RELATIONSHIPS Strategies for Effective Partnering Relationships. Partnering relationships involve two or more companies working together to achieve a specific purpose or toward the attainment of common business objectives. Joint ventures, strategic partnering, cross-licensing, co-branding, and technology transfer agreements are all examples of

partnering

ADDRESS YOUR LIMITATIONS AND REDUCE YOUR LIABILITIES Address Your Limitations and Reduce Your Liabilities. In addition to protecting your intellectual property, you need to periodically review another way of protecting your business—analyzing the ability of your company to produce products, deliver services, and create new products and services. MONITORING AND CONTROLLING MARKETING Monitoring and Controlling Marketing. Some marketing activities require several attempts before determining if they are worthwhile. Since consistent exposure over time yields better results, repeat the marketing activity several times for six months or even a year before making a decision to cancel an ad or try something new. Keep records

of

NAVIGATING ENTREPRENEURIAL PEER-TO-PEER ORGANIZATIONS The role that peer-to-peer groups play in supporting our economy is also growing in importance. Young Entrepreneurs’ Organization began with only 20 members in 1987; by 2004, its membership had exploded to more than 5,500 worldwide. If you are currently involved in a peer-to-peer network or are considering joining such a group, you

should

COMMUNICATING AN ACQUISITION TO EMPLOYEES Communicating an Acquisition to Employees. Acquisitions are stressful for employees. Deciding what to tell my employees, and when, was a tricky decision for me when I sold TEAL Electronics. First, I thought of a number of reasons to tell them right away: We encouraged a culture of honesty, and hiding (or worse, lying about) acquisition

talks

DETERMINE MARKET POTENTIAL Determine Market Potential. 09/20/2006. By FastTrac. More like this: Entrepreneurial Life. You have an idea for a business. Now what? Kauffman FastTrac can help you clear the path from idea to business start. Access the tools, resources and guides necessary to start and grow your business — anytime, all online, at your own pace. Try

FastTrac.

THE VALUES THAT SUSTAIN ENTREPRENEURS By thinking of themselves as brave, visionary, respectful, trustworthy, honest, generous, and fortitudinous, entrepreneurs can maintain the “True North” direction in their lives and companies that Stephen Covey talks about in his book, Principle-Centered Leadership. I like the set of values that emerged from the Native

American community.

THE THREE LEGGED STOOL THEORY OF BUILDING A BUSINESS And, frankly, a little insane. This is the analogy Jason Johnson, founder of August and one of our Founder Genius, used to describe trying to build a business without slowing down to properly fit the three essential legs: team, product/service and distribution. “Team, of course, you know good people that like to problem solve and can

work

ADDRESS YOUR LIMITATIONS AND REDUCE YOUR LIABILITIES Address Your Limitations and Reduce Your Liabilities. In addition to protecting your intellectual property, you need to periodically review another way of protecting your business—analyzing the ability of your company to produce products, deliver services, and create new products and services. EVALUATING YOUR BUSINESS MODEL Evaluating Your Business Model. As part of the planning process, evaluate your business model to ensure that the current model will support your plans for growth. If your business strategy changes, you may need to modify your business model to align with it. A business model is the method by which an organization uses its resources to

deliver

EVALUATING YOUR BUSINESS'S LEGAL STRUCTURE Taxes – Tax liability is a major concern for business owners. The amount of taxes paid yearly can make or break a business. Liability –Some legal structures do not protect personal assets from business debts. If you do not want to personally pay the debts of your business, consider a legal structure that will protect your personal

assets.

PRODUCT/SERVICE FEATURES AND BENEFITS The distinction between the terms benefits and features is an important concept in developing and marketing a product or service.Features are characteristics that your product or service does or has. For example, some ovens include features such as self-cleaning, smooth stovetops, warming bins, or convection

capabilities.

GUIDELINES FOR TERMINATING EMPLOYEES The decision to terminate an employee can be both emotional and frustrating. If not handled properly, it can also result in expensive litigation. These days, wrongful termination lawsuits are not idle threats. According to a recent study conducted by Jury Verdict Research, recently fired executives who sued are winning often and

winning big.

DESIGN THE RIGHT COMPENSATION PLAN FOR YOUR BUSINESS Sales goals and sales compensation must be designed carefully to compensate properly for the sale of all product lines. Checks must be put in place to ensure the organization doesn’t emphasize for sales of a low-margin product line and under-incent for sales of a high-margin product line. The design must focus on incentives at the

expense of

TECHNOLOGY LICENSING II: KEY ELEMENTS OF AN AGREEMENT Learn what a license really covers, what details to spell out and how to provide for accurate record-keeping, so as to prevent trouble later on. This article reviews the basic provisions, from boilerplate to bones of contention. EIGHT ELEMENTS OF AN ETHICAL ORGANIZATIONGET STARTEDLEGAL Honor: Good people are a fundamental part of good ethics. They are also great ambassadors for doing things right. Give special attention to strong performers and people who exemplify the spirit of your organization. Most companies recognize top achievers and

VALUE PROPOSITION

A value proposition is a valuable tool to guide your marketing efforts. Here are some benefits that you will receive by having a clear, compelling value proposition: Create a strong differentiation between you and your competitors. Increase not only the quantity but also the quality of prospective leads. Gain market share in your

targeted segments.

ADAPTING TO THE MARKET Adapting to the Market. 01/18/2007. By FastTrac. To be successful—and stay successful—your business must carefully adapt its products or services in response to the market. For some businesses, this means highlighting different benefits of the product or service to the market. For others, this necessitates modifications to existing products DETERMINE MARKET POTENTIAL Determine Market Potential. 09/20/2006. By FastTrac. More like this: Entrepreneurial Life. You have an idea for a business. Now what? Kauffman FastTrac can help you clear the path from idea to business start. Access the tools, resources and guides necessary to start and grow your business — anytime, all online, at your own pace. Try

FastTrac.

MERGERS AND ACQUISITIONS: AN INTRODUCTIONSEE MORE ON ENTREPRENEURSHIP.ORG STRATEGIES FOR EFFECTIVE PARTNERING RELATIONSHIPS Strategies for Effective Partnering Relationships. Partnering relationships involve two or more companies working together to achieve a specific purpose or toward the attainment of common business objectives. Joint ventures, strategic partnering, cross-licensing, co-branding, and technology transfer agreements are all examples of

partnering

MONITORING AND CONTROLLING MARKETING Monitoring and Controlling Marketing. Some marketing activities require several attempts before determining if they are worthwhile. Since consistent exposure over time yields better results, repeat the marketing activity several times for six months or even a year before making a decision to cancel an ad or try something new. Keep records

of

EIGHT ELEMENTS OF AN ETHICAL ORGANIZATIONGET STARTEDLEGAL Honor: Good people are a fundamental part of good ethics. They are also great ambassadors for doing things right. Give special attention to strong performers and people who exemplify the spirit of your organization. Most companies recognize top achievers and

VALUE PROPOSITION

A value proposition is a valuable tool to guide your marketing efforts. Here are some benefits that you will receive by having a clear, compelling value proposition: Create a strong differentiation between you and your competitors. Increase not only the quantity but also the quality of prospective leads. Gain market share in your

targeted segments.

ADAPTING TO THE MARKET Adapting to the Market. 01/18/2007. By FastTrac. To be successful—and stay successful—your business must carefully adapt its products or services in response to the market. For some businesses, this means highlighting different benefits of the product or service to the market. For others, this necessitates modifications to existing products DETERMINE MARKET POTENTIAL Determine Market Potential. 09/20/2006. By FastTrac. More like this: Entrepreneurial Life. You have an idea for a business. Now what? Kauffman FastTrac can help you clear the path from idea to business start. Access the tools, resources and guides necessary to start and grow your business — anytime, all online, at your own pace. Try

FastTrac.

MERGERS AND ACQUISITIONS: AN INTRODUCTIONSEE MORE ON ENTREPRENEURSHIP.ORG STRATEGIES FOR EFFECTIVE PARTNERING RELATIONSHIPS Strategies for Effective Partnering Relationships. Partnering relationships involve two or more companies working together to achieve a specific purpose or toward the attainment of common business objectives. Joint ventures, strategic partnering, cross-licensing, co-branding, and technology transfer agreements are all examples of

partnering

DETERMINE MARKET POTENTIAL Determine Market Potential. 09/20/2006. By FastTrac. More like this: Entrepreneurial Life. You have an idea for a business. Now what? Kauffman FastTrac can help you clear the path from idea to business start. Access the tools, resources and guides necessary to start and grow your business — anytime, all online, at your own pace. Try

FastTrac.

THE VALUES THAT SUSTAIN ENTREPRENEURS By thinking of themselves as brave, visionary, respectful, trustworthy, honest, generous, and fortitudinous, entrepreneurs can maintain the “True North” direction in their lives and companies that Stephen Covey talks about in his book, Principle-Centered Leadership. I like the set of values that emerged from the Native

American community.

THE THREE LEGGED STOOL THEORY OF BUILDING A BUSINESS And, frankly, a little insane. This is the analogy Jason Johnson, founder of August and one of our Founder Genius, used to describe trying to build a business without slowing down to properly fit the three essential legs: team, product/service and distribution. “Team, of course, you know good people that like to problem solve and can

work

ADDRESS YOUR LIMITATIONS AND REDUCE YOUR LIABILITIES Address Your Limitations and Reduce Your Liabilities. In addition to protecting your intellectual property, you need to periodically review another way of protecting your business—analyzing the ability of your company to produce products, deliver services, and create new products and services. EVALUATING YOUR BUSINESS MODEL Evaluating Your Business Model. As part of the planning process, evaluate your business model to ensure that the current model will support your plans for growth. If your business strategy changes, you may need to modify your business model to align with it. A business model is the method by which an organization uses its resources to

deliver

EVALUATING YOUR BUSINESS'S LEGAL STRUCTURE Taxes – Tax liability is a major concern for business owners. The amount of taxes paid yearly can make or break a business. Liability –Some legal structures do not protect personal assets from business debts. If you do not want to personally pay the debts of your business, consider a legal structure that will protect your personal

assets.

PRODUCT/SERVICE FEATURES AND BENEFITS The distinction between the terms benefits and features is an important concept in developing and marketing a product or service.Features are characteristics that your product or service does or has. For example, some ovens include features such as self-cleaning, smooth stovetops, warming bins, or convection

capabilities.

GUIDELINES FOR TERMINATING EMPLOYEES The decision to terminate an employee can be both emotional and frustrating. If not handled properly, it can also result in expensive litigation. These days, wrongful termination lawsuits are not idle threats. According to a recent study conducted by Jury Verdict Research, recently fired executives who sued are winning often and

winning big.

DESIGN THE RIGHT COMPENSATION PLAN FOR YOUR BUSINESS Sales goals and sales compensation must be designed carefully to compensate properly for the sale of all product lines. Checks must be put in place to ensure the organization doesn’t emphasize for sales of a low-margin product line and under-incent for sales of a high-margin product line. The design must focus on incentives at the

expense of

TECHNOLOGY LICENSING II: KEY ELEMENTS OF AN AGREEMENT Learn what a license really covers, what details to spell out and how to provide for accurate record-keeping, so as to prevent trouble later on. This article reviews the basic provisions, from boilerplate to bones of contention.

THE STORY MATRIX

The Story Matrix is an incredibly simple tool. It’s got rows and it’s got columns. Let’s start with the columns. Every entrepreneur story matrix should have four columns across the top representing types of stories we tell as entrepreneurs; success, failure, fun, and legends. All four of those types of stories are obvious.

BUILDING THE BUDGET

BUILDING YOUR STARTUP Building Your Startup. 08/19/2016. Transcript. Suggested Readings. Questions. Tools and Exercises. While you focus on the search phase of your startup, ensure that you’re learning skills that help you stay through the build and the execution of your company. Build a

IP LICENSING

Another aspect of licensing flexibility is the duration of the license. Not all licenses are permanent. Some have a fixed period of time, a year, a month, ten years, whatever it might be. That’s fine. If you’re a licensee in that situation with a fixed period of time license, make sure that it’s long enough. PLANNING AND ALIGNMENT: SIX ESSENTIAL PROCESSES FOR GROWTH You should view it as a whole system, rather than as individual parts. There are three fundamental sets of processes that build a growth-oriented infrastructure: (1) processes for managing and leading people, (2) processes for management and control, and (3) processes

for planning and

FIVE STEPS TO HANDLING OBJECTIONS It's too expensive. We've never heard of you guys. We're already set with our current system. No. Objections are unavoidable in an entrepreneur's life. ADDRESS YOUR LIMITATIONS AND REDUCE YOUR LIABILITIES Address Your Limitations and Reduce Your Liabilities. In addition to protecting your intellectual property, you need to periodically review another way of protecting your business—analyzing the ability of your company to produce products, deliver services, and create new products and services. ERNST & YOUNG NATURE OR NURTURE DECODING THE DNA OF THE Decoding the DNA of the Entrepreneur. You have an idea for a business. Now what? Kauffman FastTrac can help you clear the path from idea to business start. Access the tools, resources and guides necessary to start and grow your business — anytime, all online, at your own

pace.

NAVIGATING ENTREPRENEURIAL PEER-TO-PEER ORGANIZATIONS The role that peer-to-peer groups play in supporting our economy is also growing in importance. Young Entrepreneurs’ Organization began with only 20 members in 1987; by 2004, its membership had exploded to more than 5,500 worldwide. If you are currently involved in a peer-to-peer network or are considering joining such a group, you

should

COMMUNICATING AN ACQUISITION TO EMPLOYEES Communicating an Acquisition to Employees. Acquisitions are stressful for employees. Deciding what to tell my employees, and when, was a tricky decision for me when I sold TEAL Electronics. First, I thought of a number of reasons to tell them right away: We encouraged a culture of honesty, and hiding (or worse, lying about) acquisition

talks

THE STORY MATRIX

The Story Matrix is an incredibly simple tool. It’s got rows and it’s got columns. Let’s start with the columns. Every entrepreneur story matrix should have four columns across the top representing types of stories we tell as entrepreneurs; success, failure, fun, and legends. All four of those types of stories are obvious.

BUILDING THE BUDGET

BUILDING YOUR STARTUP Building Your Startup. 08/19/2016. Transcript. Suggested Readings. Questions. Tools and Exercises. While you focus on the search phase of your startup, ensure that you’re learning skills that help you stay through the build and the execution of your company. Build a

IP LICENSING

Another aspect of licensing flexibility is the duration of the license. Not all licenses are permanent. Some have a fixed period of time, a year, a month, ten years, whatever it might be. That’s fine. If you’re a licensee in that situation with a fixed period of time license, make sure that it’s long enough. PLANNING AND ALIGNMENT: SIX ESSENTIAL PROCESSES FOR GROWTH You should view it as a whole system, rather than as individual parts. There are three fundamental sets of processes that build a growth-oriented infrastructure: (1) processes for managing and leading people, (2) processes for management and control, and (3) processes

for planning and

FIVE STEPS TO HANDLING OBJECTIONS It's too expensive. We've never heard of you guys. We're already set with our current system. No. Objections are unavoidable in an entrepreneur's life. ADDRESS YOUR LIMITATIONS AND REDUCE YOUR LIABILITIES Address Your Limitations and Reduce Your Liabilities. In addition to protecting your intellectual property, you need to periodically review another way of protecting your business—analyzing the ability of your company to produce products, deliver services, and create new products and services. ERNST & YOUNG NATURE OR NURTURE DECODING THE DNA OF THE Decoding the DNA of the Entrepreneur. You have an idea for a business. Now what? Kauffman FastTrac can help you clear the path from idea to business start. Access the tools, resources and guides necessary to start and grow your business — anytime, all online, at your own

pace.

NAVIGATING ENTREPRENEURIAL PEER-TO-PEER ORGANIZATIONS The role that peer-to-peer groups play in supporting our economy is also growing in importance. Young Entrepreneurs’ Organization began with only 20 members in 1987; by 2004, its membership had exploded to more than 5,500 worldwide. If you are currently involved in a peer-to-peer network or are considering joining such a group, you

should

COMMUNICATING AN ACQUISITION TO EMPLOYEES Communicating an Acquisition to Employees. Acquisitions are stressful for employees. Deciding what to tell my employees, and when, was a tricky decision for me when I sold TEAL Electronics. First, I thought of a number of reasons to tell them right away: We encouraged a culture of honesty, and hiding (or worse, lying about) acquisition

talks

ADDRESS YOUR LIMITATIONS AND REDUCE YOUR LIABILITIES Address Your Limitations and Reduce Your Liabilities. In addition to protecting your intellectual property, you need to periodically review another way of protecting your business—analyzing the ability of your company to produce products, deliver services, and create new products and services.

BUILDING THE BUDGET

Resist the urge, however, to merely increase all amounts by a set percentage. Think about your goals and how these goals will affect the sales and expenses of the business. Use the following steps as a guideline to build your budget: Review your preliminary forecast. Confirm that your business’s vision and strategies have been

integrated into

NAVIGATING ENTREPRENEURIAL PEER-TO-PEER ORGANIZATIONS The role that peer-to-peer groups play in supporting our economy is also growing in importance. Young Entrepreneurs’ Organization began with only 20 members in 1987; by 2004, its membership had exploded to more than 5,500 worldwide. If you are currently involved in a peer-to-peer network or are considering joining such a group, you

should

HOW ENTREPRENEURS FIND SUCCESS IN INDUSTRIES THEY KNOW Ideas don't care about your industry expertise. Many times, ideas pop into our heads from all sorts of inspirations, and they rarely bother to discern whether we have the experience or training to bring them

into reality.

STRATEGIES FOR EFFECTIVE PARTNERING RELATIONSHIPS Strategies for Effective Partnering Relationships. Partnering relationships involve two or more companies working together to achieve a specific purpose or toward the attainment of common business objectives. Joint ventures, strategic partnering, cross-licensing, co-branding, and technology transfer agreements are all examples of

partnering

EVALUATING YOUR BUSINESS'S LEGAL STRUCTURE Taxes – Tax liability is a major concern for business owners. The amount of taxes paid yearly can make or break a business. Liability –Some legal structures do not protect personal assets from business debts. If you do not want to personally pay the debts of your business, consider a legal structure that will protect your personal

assets.

INTRODUCTION TO PRIMARY RESEARCH Although sometimes costly and time-consuming, conducting your own primary research can deliver specific results that are usually the most timely and relevant to your business. THE THREE LEGGED STOOL THEORY OF BUILDING A BUSINESS And, frankly, a little insane. This is the analogy Jason Johnson, founder of August and one of our Founder Genius, used to describe trying to build a business without slowing down to properly fit the three essential legs: team, product/service and distribution. “Team, of course, you know good people that like to problem solve and can

work

COMMUNICATING AN ACQUISITION TO EMPLOYEES Communicating an Acquisition to Employees. Acquisitions are stressful for employees. Deciding what to tell my employees, and when, was a tricky decision for me when I sold TEAL Electronics. First, I thought of a number of reasons to tell them right away: We encouraged a culture of honesty, and hiding (or worse, lying about) acquisition

talks

WHAT HAPPENS AFTER YOU BECOME AN OVERNIGHT SUCCESS For years, Dave Felker created equipment for one of the world's leading golf companies, Calloway Golf. There he designed golf balls and clubs for the game's best golfers. Then, Dave left Calloway. Throwing the USGA rules out the window and using the laws of physics instead, Dave created the Polara golf ball, which would help correct an average golfer's hook or slice.

VALUE PROPOSITION

A value proposition is a valuable tool to guide your marketing efforts. Here are some benefits that you will receive by having a clear, compelling value proposition: Create a strong differentiation between you and your competitors. Increase not only the quantity but also the quality of prospective leads. Gain market share in your

targeted segments.

EIGHT ELEMENTS OF AN ETHICAL ORGANIZATIONGET STARTEDLEGAL Honor: Good people are a fundamental part of good ethics. They are also great ambassadors for doing things right. Give special attention to strong performers and people who exemplify the spirit of your organization. Most companies recognize top achievers and ADAPTING TO THE MARKET Adapting to the Market. 01/18/2007. By FastTrac. To be successful—and stay successful—your business must carefully adapt its products or services in response to the market. For some businesses, this means highlighting different benefits of the product or service to the market. For others, this necessitates modifications to existing products INTRODUCTION TO PRIMARY RESEARCH Although sometimes costly and time-consuming, conducting your own primary research can deliver specific results that are usually the most timely and relevant to your business. STRATEGIES FOR EFFECTIVE PARTNERING RELATIONSHIPS Strategies for Effective Partnering Relationships. Partnering relationships involve two or more companies working together to achieve a specific purpose or toward the attainment of common business objectives. Joint ventures, strategic partnering, cross-licensing, co-branding, and technology transfer agreements are all examples of

partnering

NAVIGATING ENTREPRENEURIAL PEER-TO-PEER ORGANIZATIONSPEER TO PEER ORGANIZATIONINDEPENDENT PEER REVIEW ORGANIZATIONPEER ORGANIZATIONS DEFINITIONPEER RUN RECOVERY CENTERS The role that peer-to-peer groups play in supporting our economy is also growing in importance. Young Entrepreneurs’ Organization began with only 20 members in 1987; by 2004, its membership had exploded to more than 5,500 worldwide. If you are currently involved in a peer-to-peer network or are considering joining such a group, you

should

EVALUATING YOUR BUSINESS'S LEGAL STRUCTURE Taxes – Tax liability is a major concern for business owners. The amount of taxes paid yearly can make or break a business. Liability –Some legal structures do not protect personal assets from business debts. If you do not want to personally pay the debts of your business, consider a legal structure that will protect your personal

assets.

EVALUATING AND SELECTING A STRATEGIC PARTNER Picking a good alliance partner is a lot like finding the right tennis partner — find the right one you win; pick the wrong one you lose. Strategic alliances can deliver significant benefits to startups including reducing your time to market, providing to strategic markets

and

LEGAL ISSUES WITH USE OF LEASED WORKERS ENTREPRENEURIAL SELLING V4 What kind of budget are you working with for this endeavor?

VALUE PROPOSITION

A value proposition is a valuable tool to guide your marketing efforts. Here are some benefits that you will receive by having a clear, compelling value proposition: Create a strong differentiation between you and your competitors. Increase not only the quantity but also the quality of prospective leads. Gain market share in your

targeted segments.

EIGHT ELEMENTS OF AN ETHICAL ORGANIZATIONGET STARTEDLEGAL Honor: Good people are a fundamental part of good ethics. They are also great ambassadors for doing things right. Give special attention to strong performers and people who exemplify the spirit of your organization. Most companies recognize top achievers and ADAPTING TO THE MARKET Adapting to the Market. 01/18/2007. By FastTrac. To be successful—and stay successful—your business must carefully adapt its products or services in response to the market. For some businesses, this means highlighting different benefits of the product or service to the market. For others, this necessitates modifications to existing products INTRODUCTION TO PRIMARY RESEARCH Although sometimes costly and time-consuming, conducting your own primary research can deliver specific results that are usually the most timely and relevant to your business. STRATEGIES FOR EFFECTIVE PARTNERING RELATIONSHIPS Strategies for Effective Partnering Relationships. Partnering relationships involve two or more companies working together to achieve a specific purpose or toward the attainment of common business objectives. Joint ventures, strategic partnering, cross-licensing, co-branding, and technology transfer agreements are all examples of

partnering

NAVIGATING ENTREPRENEURIAL PEER-TO-PEER ORGANIZATIONSPEER TO PEER ORGANIZATIONINDEPENDENT PEER REVIEW ORGANIZATIONPEER ORGANIZATIONS DEFINITIONPEER RUN RECOVERY CENTERS The role that peer-to-peer groups play in supporting our economy is also growing in importance. Young Entrepreneurs’ Organization began with only 20 members in 1987; by 2004, its membership had exploded to more than 5,500 worldwide. If you are currently involved in a peer-to-peer network or are considering joining such a group, you

should

EVALUATING YOUR BUSINESS'S LEGAL STRUCTURE Taxes – Tax liability is a major concern for business owners. The amount of taxes paid yearly can make or break a business. Liability –Some legal structures do not protect personal assets from business debts. If you do not want to personally pay the debts of your business, consider a legal structure that will protect your personal

assets.

LEARNING PATHS

The video series teaches entrepreneurs how to go from having a business idea to pitching a validated business model and value proposition. Surviving the Entrepreneurial Life. Communication, priority setting, and patience can help families weather the ups and downs of an entrepreneurial venture. Startups. EIGHT ELEMENTS OF AN ETHICAL ORGANIZATION Honor: Good people are a fundamental part of good ethics. They are also great ambassadors for doing things right. Give special attention to strong performers and people who exemplify the spirit of your organization. Most companies recognize top achievers and ADAPTING TO THE MARKET Adapting to the Market. 01/18/2007. By FastTrac. To be successful—and stay successful—your business must carefully adapt its products or services in response to the market. For some businesses, this means highlighting different benefits of the product or service to the market. For others, this necessitates modifications to existing products INTRODUCTION TO PRIMARY RESEARCH Although sometimes costly and time-consuming, conducting your own primary research can deliver specific results that are usually the most timely and relevant to your business. ADDRESS YOUR LIMITATIONS AND REDUCE YOUR LIABILITIES Address Your Limitations and Reduce Your Liabilities. In addition to protecting your intellectual property, you need to periodically review another way of protecting your business—analyzing the ability of your company to produce products, deliver services, and create new products and services. MANAGING PEOPLE THROUGH EFFECTIVE ENTREPRENEURIAL LEADERSHIP Continue to set new goals for yourself and your team. Goals force people to move out of the comfort zone. Avoid the fear of failure. You’ll discover that failure is a prelude to success. Someone once said: “Good judgment comes from experience, and experience comes from poor judgment.”. MONITORING AND CONTROLLING MARKETING Monitoring and Controlling Marketing. Some marketing activities require several attempts before determining if they are worthwhile. Since consistent exposure over time yields better results, repeat the marketing activity several times for six months or even a year before making a decision to cancel an ad or try something new. Keep records

of

ERNST & YOUNG NATURE OR NURTURE DECODING THE DNA OF THE Decoding the DNA of the Entrepreneur. You have an idea for a business. Now what? Kauffman FastTrac can help you clear the path from idea to business start. Access the tools, resources and guides necessary to start and grow your business — anytime, all online, at your own

pace.

STRATEGIES FOR MANAGING LITIGATION Strategies for Managing Litigation. Litigation results when two people cannot creatively reach resolution. It turns on the notion that the people involved exhausted their ability to create a positive solution and had to resort to methodology designed to reconstruct the past and assign accountability and blame. LEGAL ISSUES WITH USE OF LEASED WORKERS Legal Issues With Use of Leased Workers. Although management needs should always be paramount in determining how to engage a workforce, there are significant legal issues that must be addressed when workers are not on the company payroll. Management issues include: (1) the potential administrative costs of hiring, training, and paying a

worker

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