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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.
When structured properly, a strategic partnership with a large company can catalyze a small firm's growth. In establishing a partnership, entrepreneurs should focus on how their product will be sold, who will sell it, and how the partner will facilitate sales growth.
Careful measurement and management of your partnerships can protect entrepreneurs from entering into agreements with the wrong strategic partners, and it can provide a sound basis for making the most of productive partnerships.
A company's name is a major intangible asset--but even a federal trademark may not be enough to protect it. This entrepreneur, owner of a media services business, discovered the difficulty in defending his intellectual property against a competitor with deeper pockets. Although he expected to win his case, the prohibitive cost of going to trial led instead to a settlement.
When looking to recruit CEOs for his companies, the entrepreneur author argues it's critical to consider in candidates a range of character traits, such as broad experience, objectivity, and respect for others. He shares his experiences in making the right and sometimes wrong hires and reveals key lessons learned.
Richard Jarman sees entrepreneurship as the backbone of the American economy, and he's doing his part to help by mentoring up-and-coming entrepreneurs.
Niche companies needn't be intimidated by their large corporate competitors because even the biggest companies must be adept at marketing differently to discreet audiences, writes the author, who founded the country's leading black-owned media concern. The solution is to stick to your specialty, maintain excitement with new ideas, and commit resources to expanding the brand.
Not so fast, Martha Stewart.
OK, you're special. You are talented and one of the best at what you do. But that doesn't mean that you're equipped to run your own business--even one within a field or industry you've been working in or following for years.
To wit: 627,200 new businesses opened in the U.S. in 2008--the same year 595,600 businesses shuttered and 43,546 filed for bankruptcy, according to the U.S. Small Business Administration (SBA). Likewise, 30% of small businesses fail within the first two years and half close shop within five years, according to the SBA.
The fact of the matter is that far too many people launch their own companies for all the wrong reasons and without the tools it takes to succeed. Before handing in your notice and signing a lease on an office, it's imperative you take a hard look at yourself in the salaried eye and ask yourself a few critical questions that could mean the difference between a fulfilling life as your own boss and speed-dialing a bankruptcy lawyer.
At age 25, Laura Sanko was a founding member of a startup that raised $3.5 Million from some world-famous investors and the Founder’s Fund. The business model was simple: a website that rented high-end jewelry for special occasions for a fraction of the retail value of each piece. Three years later, the investment money was all gone and while the site continued to operate, it had failed to meet the investors’ expectations.
Pay-per-click advertising can be a great tool for qualifying prospects, driving them to your Web site, and ultimately increasing sales. Read how this entrepreneur has refined his use of sponsored links and pay-per-click advertising to zero in on his target niche, doubling order sizes and boosting overall sales three-fold.
Whether a company is built with 50/50, majority, or minority partners, the author shares key lessons learned about buy-sell agreements as his companies grew and became more sophisticated.
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