Having spent the last 10 years working with small businesses and entrepreneurs, I’ve come to the conclusion that there are three fundamental challenges of entrepreneurship: Financing, strategy and marketing. In a future articles I will talk about each of these three fundamental areas of entrepreneurship. But for now let’s just talk about financing. Financing is, [...]
Read More Entrepreneurship, financingThere has been a lot of pre-presidential election discussion about the strategies to create jobs. Both presidential candidates agree that America needs to encourage businesses to hire more people. Frankly, the espoused tactics to achieve this goal are vague at best. At some points during the second debate, I was intensely offended by both candidates [...]
Read More Entrepreneurship, financing, Startup, strategyAs many of you know, I’ve been in several startup entrepreneurial ventures. One of the biggest problems I’ve faced (for a variety of reasons) is when customers don’t pay on time. We’ve all had the experience of running our businesses on a frayed shoestring. And that shoestring frays even faster when a customer fails to [...]
Read More accounting, financing, staffingWhatever amount of money you want to raise, be prepared for rejection. In my career, I’ve raised about $10MM for my startup ventures. But I probably was rejected 80-85 percent of the time. I’ve made 150 VC presentations. That’s a lot of rejection. But, as an entrepreneur, your faith will get you through these trials. Here [...]
Read More Entrepreneurship, financing, fundingThe past year was a rollercoaster for business owners hoping for tax relief, but help finally arrived right at the end of the year in the form of the Tax Relief and Unemployment Insurance Reauthorization, and Job Creation Act of 2010. Here’s a look at what’s changed and what you need to know about business [...]
Read More financing, taxesUnless you’re independently wealthy, entrepreneurs usually have to hit the banking and investor circuits in search of loans and other startup funds. It can be a tough task, especially when the credit markets freeze up like they have during the recession. “Many investors cannot predict when the economy will return to its go-go growth days, [...]
Read More Entrepreneurship, financing, funding, small businessWhen you start a business, you need help. Often, you need help fast, or you’re going to close your doors. That sense of urgency often leads entrepreneurs to jump on any type of assistance that’s offered. But it can be worth taking a little time to find exactly the right kind of help for your [...]
Read More Entrepreneurship, financing, StartupDuke Chung Photo© David Lang Duke Chung was facing a defining decision: Accept a lucrative buyout offer for Parature, the customer-support software company he started as a student at Cornell University, or stay the course and continue to grow Parature with his four co-founders. Plenty of college entrepreneurs would jump at a big payout. But [...]
Read More Entrepreneurship, financingThe Facebook post reads: “Startup medical device company looking for investors.” An eBay ad offers “double-digit growth potential for early investors.” And with loans in short supply, you might be tempted to hang an “investors wanted” sign of your own. But be warned: Selling equity is very different from borrowing from Aunt Sally. And it’s [...]
Read More Entrepreneurship, financingSocial Health: Brad Weinberg, left, and Rajiv Kumar. Photo © David Lang As classmates at Brown University Medical School in 2006, Rajiv Kumar and Brad Weinberg were bothered by the emphasis on treating disease vs. promoting wellness. As doctors, they routinely encountered patients who struggled with lifestyle modifications like losing weight, quitting smoking and boosting [...]
Read More Entrepreneurship, financing, social networking