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This entrepreneur thought he had built in adequate legal protections to ensure his partner in a new venture would not get full control of the business. When the partner was ready to sell the company, however, the entrepreneur discovered he didn't have the leverage he needed to stop the company's sale.
Clean tech is the topic discussed between Steve Perricone, CEO of waste management and energy company BioFuelBox, and one of his investors, DFJ veteran VC Jennifer Scott Fonstad. In addition to discussing the company's technology, structure, and applications, they also expound on current stimulus dollars for alternative energy systems.
All businesses, regardless of type, must comply with statutes and regulations, which come from all levels of government. These include regulations covering occupational safety and health as well as persons with disabilities.
The more you can use legal protections to safeguard your business, such as choosing the right legal structure at start-up, the easier it becomes to ensure nothing enters that could harm your business.
Excellent suppliers keep their promises, providing supplies and services when you need them.
Production planning involves evaluating your current production facilities to determine how effectively it fits with your overall growth plan.
Your workflow--processes, procedures, and policies--need to be communicated verbally and written. Written communication should include job descriptions, performance standards, performance reviews, and controls.
Whether you are looking at improving how you currently run your business or planning significant expansion, the operations of your business are critical to your success.
As the first indicator of profitability, a firm's gross margin will establish the goals that will drive the action plans of almost every department. The second indicator, Operating Expenses, should be assessed just as carefully.
Performance standards will be of little value if the entrepreneur never measures actual performance against the standards. Ongoing measurement assures that a business stays on track.
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