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Most entrepreneurs avoid setting up a board of directors for their new business unless or until they sign up an investor who demands a seat on the board. That implies that a board of directors has no value to the founder, and is just another burden that to be assumed for the privilege of attracting Read More

Yeah, I know one startup does not equal another startup. But let’s say you want to build more or less a typical web business, web startup. Some SaaS business, an ecommerce store, an app or something similar. Read More

Most entrepreneurs believe they are “different,” but they can’t quite understand how. They usually explain it by insisting that they are driven to follow their passion, need to be their own boss, want to get rich quick, or want to change the world. I now believe that the roots of the difference may Read More

The new era of highly connected and interactive technology is changing not only how business employees interact with customers, but also how they interact with each other, and with their company. I am happy to see reports that young companies are in the forefront of these trends, on both the custom Read More

The Federal Trade Commission has now taken legal action against a crowdfunder for failing to refund consumers their money and for using the funds on personal expenses. This is the FTC’s first case involving crowdfunding, and could signal a future where crowdfunding campaigners are held accountable Read More

Few investors these days have the time or patience to read a full business plan, so a better way to catch their eye is with a tightly written and well formatted two-page executive summary. As a model, think high-quality marketing collateral, with text and graphics in columns and sidebars, but focus Read More

Not every entrepreneurial journey has to begin from scratch. Indeed, lots of people have made it big after purchasing existent businesses.
Starting out this way has its fair share of welcome advantages. If all goes well you’ll basically be inheriting a commercially viable “plug and play” bus Read More

The monthly review meeting is absolutely essential to real business planning. The real value of business planning is the decisions it causes, and the management that results; and for that you need not just a plan but a regular monthly review to track results and revise as necessary.
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Entrepreneurs need to be effective team leaders, since no one can transform an idea into a product and a business without some help. Unfortunately many founders I work with as a mentor are experts on the technical side, but have no insight into leading a team. But fortunately, team building is a sk Read More