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Explore the Entrepreneurship.org Resource Center to find resources. Designed with entrepreneurs in mind, our resource center allows you to find materials to grow great ideas.
Don Grimm spreads his giving back around through nonprofit and for-profit boards to tech transfer and angel investing.
When cash flow turned positive and profits started coming in, the co-founder of an Internet start-up sought his advisory board's approval for new expenses. What he got was a barrage of questions: "Where are next year's projections? What's your mission statement?" As the business grew, the board made sure it stayed on track financially, raising prices as well as morale. And when the company was acquired, everybody cashed in.
How do you know when it's time for life after entrepreneurship? Selling the most important asset in your life - the one you've poured heart and soul into - shouldn't be tied to the day Social Security kicks in. It should be a process started three to five years before the final event, as the planning for life after entrepreneurship is equally as important as your first business plan.
A mature business facing altered circumstances might need to bring in a partner rather than just an employee, writes the author, who poses a series of questions for founders to address prior to making what could be a difficult leap.
Entrepreneurs should cultivate relationships with outsiders who can offer support and advice, even though "mentoring," as it's often called, is typically considered an instrument of corporate career-building. In this insightful article by an entrepreneur who founded a non-profit organization to pair owners of young companies with seasoned business owners, the author advises entrepreneurs to seek help from peers as well as superiors and from several outsiders rather than a single guru.
Barnett Helzberg is so convinced of the value of mentoring, he started a program to benefit up-and-coming entrepreneurs.
Entrepreneurs benefit from knowledgeable third-party advice provided by advisors, writes the former chairman of a family-owned diamond business. The author describes his own dealings with informal mentors and the members of his formal advisory board.
The founder and CEO of American Reading Company, Jane Hileman, has seen her company grow from a few teachers ten years ago to 111 employees today who provide books and reading goals for students to encourage a love of reading. Hileman's goals are revenue growth, profitability, and success.
This entrepreneur and strategic coach presents two case studies, from her entrepreneur client base, which approach compensating "A" players in very different ways. Both had the same goal though--keep them on the team.
Boards of advisors are best for helping entrepreneurs build companies in the formative stage, whereas boards of directors lend a hand during times of crisis or change, writes a serial entrepreneur. The author provides a blueprint for dealing with both entities.
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