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The statistics surrounding the survival rate for small businesses have long been subject to fervid debate. Depending on who you're talking to, the predicted life span for a startup can elicit grim to cautiously optimistic responses.
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.
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.
After selling her first company, a newly wealthy software entrepreneur felt that writing checks to charity wasn't enough. So, she set up a nonprofit that runs a business employing disadvantaged young people. Then she joined an organization advocating economic fairness in society. Now she's providing for her daughter's education and learning about investment strategies.
The toughest and most important job of an entrepreneur is to select the people to bring into his or her company. The author suggests a way to do this: listen for the electricity.
Bangalore: With several foreign students turning to India to gain experience of the cool technologies offered by Indian start-ups, four MBA students from the Massachusetts Institute of Technology (MIT-Sloan School of Management) are all set to start their internship at the online entertainment portal 'Buzzintown', reports Peerzada Abrar from the Economic Times.
Entrepreneurs must have a strategic reason for expanding and execute according to a plan that works for their company, says a cofounder of a major oil-change service company.
Julius Walls has the priviledge of leading a company that exists to give back.
Entrepreneurs make great decisions when they critically analyze the situation.
How do you know when it's time for life after entrepreneurship? Selling the most important asset in your life - the one you've poured heart and soul into - shouldn't be tied to the day Social Security kicks in. It should be a process started three to five years before the final event, as the planning for life after entrepreneurship is equally as important as your first business plan.
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