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As Buck Knives, Inc., celebrated a century in business, it also faced a cash crunch that was putting it out of business. CEO CJ Buck shares how his team took dramatic action (including moving the company from Southern California to northern Idaho) to fend off high-quality global competitors and to turn the historic and highly regarded company around with its own version of the Toyota Production System (TPS).
Budgeting, forecasting, and projecting mean fundamentally the same thing--estimating future amounts based on information you already know.
The founders of a provider of outsourced information technology services advise that entrepreneurial companies maximize trust with vendors.
First-time CEOs may find it daunting to establish their first board of directors. This topic expert details a four-step process to building boards that can help growth companies thrive.
Adaptation to change is a top priority for the founder of a fast-growing company that provides information-management solutions for home-care agencies. Leadership sets the standards for performance. But the bottom line is the bottom line, especially in tighter capital markets. The best way to foster endurance is to build value by satisfying your paying customers.
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.
When developing a budget, it is important to estimate profits annually for the next three years as well as to develop a detailed month-by-month budget of sales, expenses, and cash flow amounts for the same three years.
Creativity is all about finding innovative solutions to difficult problems, says an engineer who did just that to build what is now the country's fifth largest craft brewery. The article looks at how that principle applies to manufacturing, management, marketing and product development.
A business plan isn't as useful for raising financing as the prevailing entrepreneurial wisdom holds, argues the founder of an Internet marketing concern. Instead, focus on building the business and the money will follow.
Even on the Internet, says the founder of a company that provides online directories for e-businesses, most new business models are really variants or hybrids of the three basic old ones. To gain competitive advantage in the new economy, what entrepreneurs really need is a low-cost customer-acquisition strategy. And, they face increasing pressure from investors to be right the first time.
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