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Adaptation to change is a top priority for the founder of a fast-growing company that provides information-management solutions for home-care agencies. Leadership sets the standards for performance. But the bottom line is the bottom line, especially in tighter capital markets. The best way to foster endurance is to build value by satisfying your paying customers.
While effectual boards of directors can strengthen a growing company, this author asserts ineffectual boards can just as easily cripple a company's growth. Entrepreneurs should follow proven and concrete procedures for developing and operating strong boards of directors.
Here are five big issues you should consider if you want your company to be able to evolve and grow to the next stage of development.
There has been a lot of attention paid to ethics in business lately. Of course, most of that focus has been on the lack of ethics in business.
When Michele McGeoy sold her first software start-up, she thought she was doing the best thing for her stakeholders. But, a few years later the new owners resold the company out of state, leaving her and her employees out of work. Having lost control by giving up ownership, McGeoy found a better solution for her next venture: She empowered employees by making them stakeholders and created a culture that promotes healthy growth.
After selling her first company, a newly wealthy software entrepreneur felt that writing checks to charity wasn't enough. So, she set up a nonprofit that runs a business employing disadvantaged young people. Then she joined an organization advocating economic fairness in society. Now she's providing for her daughter's education and learning about investment strategies.
Marcia Mellitz, president of a St. Louis-based technology business incubator, recounts the roller coaster tale of two entrepreneurs who ride the wave of startup, failure, and ultimately success.
Pairing with charities enables entrepreneurial companies to offer a morale-boosting perk to employees while enhancing traditional marketing strategies, says the founder of a consultancy that facilitates such sponsorships.
All it takes for a startup community to take root and thrive are the right seeds and soil. I recently saw this first hand in a seemingly off-the-beaten-path city – Telluride, Colo.
For David Moody, giving back should be a "habit from the heart," started even before success arrives.
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