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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.
Because he makes a living at sorting through the finances of failing companies, this turnaround specialist knows that the single most important approach for building new companies or salvaging dying ones is careful cash flow management. This entrepreneur writes on the balancing act and the pitfalls to avoid while managing your money.
In 2003, Alex Welch observed that e-commerce and social networking users were in need of an easy-to-use centralized hub to store and publish media. In this article, he explains how he founded a company based on this idea by bootstrapping his startup and later raising outside money.
BP has received almost 35,000 ideas in just over a month on how best to clean up the millions of gallons of oil from the biggest spill in U.S. history. So far, only four hace made it into testing.
Entrepreneurs face an array of operations challenges, including sales and inventory tracking, to bring products to market. With the widespread adoption of wireless networks and hand-held devices, entrepreneurs should adopt mobile computing to overcome these challenges.
Completely understanding your market allows you to confidently approach any customer, potential partner, or investor. This entrepreneur and angel investor outlines a five-step process for knowing breadth and depth of the market landscape.
Your basic business strategy and product plan needs to be rooted in an understanding of what it takes beat the competition. To do so, this author says you must have a realistic understanding of what you are up against, and he lays out a method to do smart market research.
Rather than viewing compensation plans as a motivational tool, this entrepreneur believes they should be considered a means for managing risk and protecting the company's cash assets. He explains his firm's model, which is based on transferring more risk to sales associates, sharing resources across clients, and tying a portion of base salary to reaching certain revenue-related milestones.
Taking on debt can be healthy for a company's cash flow and sustainability, according to the author, who notes that the keys lie in ensuring debt is taken on for strategic purposes and that the company is ready to manage this important new relationship.
A business plan for entrepreneurs should engage the heart as well as the head, writes the author, who advises two plans-the formal document for bankers and investors, and then, the business plan that comes from your heart.
DURHAM, N.C. - Hardly a day goes by when I don’t have a rookie entrepreneur ask for advice on raising money from VCs.
They usually have a fancy-looking business plan with detailed spreadsheets showing how their company will be worth billions by capturing just 1 percent of a market. All they need is some financing, and they’ll take the world by storm.
My advice is always the same: ditch the business plan, and buy a lottery ticket. Your odds are better, and you’ll suffer less stress.
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