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Controversy continues over whether or not the performance review process is an effective tool for motivating and improving employee performance. Yet many entrepreneurs make the assumption that the evaluation process will lead to a better-performing organization. Too often, the purpose of employee reviews is unclear -- to both leadership and the employee -- and training in the process is generally not provided.
Age is an issue for today's entrepreneurs, especially those in technology-based businesses, writes the author, who founded an Internet company right out of college. Younger entrepreneurs, he argues, are more likely than their elders to be technologically astute and to be creative and flexible, attributes that are integral to their companies and enable those enterprises to succeed. The author includes tips for using youth as an advantage in business.
Entrepreneurs of a certain age need to accommodate the changes in attitude on the part of the younger generation or risk becoming dinosaurs, writes the author, who turned to entrepreneurship after a career in the U.S. Army and at a major corporation. Today's young people are technologically savvy, casual about dress and deportment, and forward about expecting to advance at a younger age, he says. He includes tips for adjusting one's management style to help -- rather than change -- the new generation.
Good advice is worth hearing twice. This article doesn't plow any new ground, but coming from a venture capital blog it should command the attention of growth-hungry entrepreneurs.
In this Collection overview article, this entrepreneur and director argues boards of directors are critical success factors in fast-growing companies. This expert debunks a set of common misconceptions many entrepreneurs have about boards and outlines why an entrepreneur should build one.
As your company grows, you'll need to obtain specialized and technical advice on a regular basis. Consider using outside professionals because they are usually less expensive than hiring full-time staff when you have a project needing outside expertise.
When considering the optimal number of founders for any new entrepreneurial adventure, the calculus extends well beyond simple formulas seemingly supported by observations of startup cohorts within specific industries. Famous technology twosomes that come to mind include David Packard and William Hewlett of Hewlett-Packard, Steve Jobs and Steve Wozniak of Apple, Paul Allen and Bill Gates of Microsoft, Larry Page and Sergey Brin of Google. In these examples, it is widely observed that these buddy teams complemented each other well in the early formative years of their companies.
If a business owner tracks employees’ social media activity, it requires striking a balance between company reputation monitoring and employee privacy.
Chasing an entrepreneurial dream can be an all-consuming effort. Particularly in those crucial early days of a startup, founders seem to eat, sleep and breathe their businesses. This naturally occurring tunnel vision has a purpose, of course, allowing entrepreneurs to give their business babies the time and attention they need to mature. But this heads-down mode is not without its drawbacks, one of which is neglecting to stay up on current events--particularly the happenings that can impact the entrepreneurs who are inadvertently paying no attention to them.
Entrepreneurs are a busy lot, and the busiest startup owners may take shortcuts when interviewing job candidates. But failing to ask the right questions in such situations could cost your business plenty.
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