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Constantly work to expand your NETWORK

Constantly work to expand your NETWORK

Successful entrepreneurs know how important networking is to their success. It is often very difficult to quantify or put an absolute value on networking, but it is essential to entrepreneurial success.  So, as an entrepreneur yourself, it is important that you attend various events to develop contacts in areas where you need (or will need) […]

Never, ever run out of CASH!

Never, ever run out of CASH!

This is as close to an entrepreneurial basic truth as it gets…never, ever run out of cash! Yet many companies do run out of cash because management does not truly understand the difference between revenues and profits shown on the P&L statement and real, honest-to-goodness cash flow.  Successful entrepreneurs know how to retain and manage […]

Always do MORE with LESS

This is every successful entrepreneur’s personal credo. Why? Because the successful entrepreneur truly understands the importance of conserving that valuable resource called CASH, which is literally the firm’s lifeblood. Successful entrepreneurs know to “lease” rather than “buy” whenever possible, and if they do need to buy, they buy “used” rather than “new”. Savvy investors look […]

What Time Is It?

What Time Is It?

There is an old adage, particularly about responding to a question, that goes, “If I ask you the question, ‘what time is it,’ I don’t want you to respond by telling me how to make a watch!” If asked, tell them what time it is and let the Swiss focus on making a watch. Things that […]

Investor Ready Tips of the Day

The purpose of the first pitch…is to get the next meeting.  No one will write a check on the basis of an elevator pitch, or the first 10-15 minute presentation.  What you must do is tell enough of the story, and in a compelling and memorable way, so that investors want to hear more. The […]

Build a TEAM which “fits” and can work effectively together

Have you ever noticed that there aren’t too many solo entrepreneurs around? That’s because it takes a successful management team to build a successful business…one that truly balances the entire team’s strengths and weaknesses.  Make sure you analyze your and your team’s capabilities carefully and then work to fill in the known gaps in experience, […]

Business Strategic Planning Presentation with Board

Never Lose Sight

Communicate your VISION clearly and often Too often entrepreneurs make the mistake of not adequately communicating to their staff their overall vision about where they want to take the new company.  This often results in a staff who ends up working at cross purposes because no one has clearly and concisely expressed to them the overall […]

Keep Expanding Your Network

Keep Expanding Your Network

Successful entrepreneurs know how important networking is to their success.  It is often very difficult to quantify or put an absolute value on networking, but it is essential to entrepreneurial success.  So, as an entrepreneur yourself, it is important that you attend various events to develop contacts in areas where you need (or will need) […]

Talk to Real, Potential Customers

Talk to Real, Potential Customers

When you have a business idea, it is normal to talk about it with your family, friends and people you know. Unfortunately, not all the responses will be objective. They will want to encourage you, sound positive and be nice. Instead, identify your potential customers who are likely to actually use your product or service […]

Who’s more important….

Who’s more important….

…. the HORSE or the JOCKEY? Many times when an entrepreneur goes out and seeks funding from investors, they commit the error of overemphasizing the company. Make no mistake, the company is very important; what the company does, the industry it is in, whether or not they have disruptive technology, whether there is any intellectual property […]