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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.
The author discusses how to get the most from a buy-sell agreement, encourages entrepreneurs to detail very specifically what happens when ownership changes occur, and elaborates on the language required for valuation of the shares.
Billing and collecting your accounts receivable (A/R) in a timely manner is key to optimizing cash flow and you need to have a way to monitor A/R at least on a weekly basis.
Recounting the tale of founding and growing two companies, one which ultimately failed, the author argues that the key message about cash in a high growth business is raise more than you need, and spend less than you have.
Donovan Moxey got help in the early stages of starting his company; now he's the one giving his time to promote entrepreneurship.
This entrepreneur expert asserts that without a well-developed hiring process, entrepreneurs tend to make mistakes that can set their companies back. To build a high-performance top team, the author illustrates his three-step plan to reduce risk and increase hiring successes.
This entrepreneur shows how entrepreneurs can hire using the open house method. This process enables you and your top team to review a large pool of candidates that you may have not even considered if all you had seen were their resumes.
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.
This topic expert provides a step-by-step process for understanding a sales reps' potential for results, their motivation factors, and developing a comp plan that fits those characteristics. Strategy, combined with communication, can help sales reps meet their goals and their companies' profit goals.
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.
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