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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.
For entrepreneurial companies and their established counterparts, joint ventures and strategic alliances bring mutual benefits that each would otherwise be unable to achieve independently.
Executed well, franchising can be a solution to the challenge of harvesting intellectual capital to achieve the goal of driving business growth. If it is right for your company, consider making it work, the author says.
Many founders have cited the importance of access to mentoring and coaching that the peer-to-peer organizations, as well as industry groups, Chambers of Commerce, and trade associations, have provided for them.
This introduction provides a basic overview of buy-sell agreements and describes the three basic types.
A buy-sell agreement that properly anticipates all of the challenges and dynamics of rapid expansion is a must. The author asserts many entrepreneurs often are so excited to get the company started that the details typically addressed in a buy-sell agreement are overlooked.
Entrepreneurs need to be leaders to motivate people to undertake the daunting task of turning a vision into a tangible entity, says the founder of the nation's largest pediatric home healthcare provider.
Ron Rubin's profession is tea, but he is also steeped in giving back to student entrepreneurs.
Why should any organization adopt collaboration? There's only one reason—value creation. After all, if we're not creating value, what's the point? With a growing consciousness for collaboration, many companies are investing in collaboration tools and technologies. These range from enterprise instant messaging and unified communications, wikis, and enterprise social media to virtual worlds, Web conferencing, and telepresence.
In a typical scenario, the months fly by after the collaboration tools are implemented. As the seasons change, decision-makers anticipate reaping the benefits of collaboration. And perhaps they can even point to successes within particular business units or functions. Often, though, it's the same old story. The company remains for the most part internally competitive, hierarchical, and command-and-control driven. The tools alone have failed to make the company collaborative. Worse yet, the tools may have created no real value, and the decision-makers who had pinned such high hopes on these tools are surprised.
An entrepreneurial company in its second year confronts challenges more
With the market for early-stage capital beginning to bounce back, I'm once again fielding calls from entrepreneurs wanting to know how much of their company to give away to investors to raise the money they need to launch their businesses or take them to the next level.
Unfortunately, there's no easy answer to this question. An established business with sales, profits and cash flow may sell for five to 10 times earnings before interest, taxes, depreciation and amortization. But it's a lot harder to put a price tag on an early-stage venture that consists of a business plan, a web site and the founder's hopes and dreams. As a result, negotiations between start-ups and prospective investors often turn into angry arm-wrestling matches that end with both sides walking away empty-handed.
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