Entrepreneurship Tips

From the moment a new company is founded to its appearance on the Fortune 500 list, executives must be able to transform the way they manage a company — shifting gears, often dramatically to a different management style — to ensure the company’s optimum development. I am not referring to individual executive style here. What I am talking about is the total adjustment and evolution of the context in which major management decisions are made. I call this the “Mode of Management”, which is very dependent on the company’s current developmental stage. Would you make the same product development decisions...

There are far too many texts and systems on management, and I do not want to create another.  However, there is a simple and effective system I use that leverages many of these wonderful systems that can be anywhere from fantastic to disastrous in a particular situation.  In every case, some thought must be given as to which technique is appropriate for each special circumstance and individual.  A simple, yet very effective, model for people management uses the following combination of well known management styles by selecting the appropriate method for each individual.  This is an easy model to understand...

So many to choose from that deceive people and can even cause the failure of a company. Here are just a sample: 1. Your “idea is worth millions”. There is no such thing. As by definition, anyone can steal an “idea” and do it better, with more capital and/or a better team. Anyone with just an idea will not raise any capital. You need a team, plan, traction. Even a patent (exclusive on the implementation of an idea, not an idea) only gets 5% royalty. The other 95% goes to the people who invest and execute. How many people had the...

MBO and OKR is a proven way for companies to improve performance dramatically. But it is not a panacea either. It is just a structure and cadence for good management to insure great communications and cooperation between people and areas of the business. And one very good manager should use - no exceptions.  To be fair OKR is just a repackaged (plagiarized) version of Management By Objective (MBO) created by The Father of Management (Science) Peter Drucker in the 1960s. All his books are timeless, and I highly recommend any serious manager read them all over time. Start with The...

Simply put, generally, no, but there are various scenarios and circumstances.  So, this is really not a yes or no question and requires more information to answer. Legally, any Officer of the company (a legal status according to the Secretary of State filings in the state in which your company is incorporated) has the right to commit their company legally to any contract, and hence to hire someone.  This status comes with a large “Fiduciary responsibility” to act in the best interest of the company and its stockholders.  It also means you have liability in certain circumstances.  You have a...