Entrepreneurship Tips

I created a short video series answering this exact question that you can view for free here called The Entrepreneur’s Journey.  An MVP's goals list should provide all the data to answer that question (example below for AirBnB).  Your first job is creating that list. Long before you start building a product.  The purpose of an MVP is to get real-world customer feedback.  However, you will need to run the financials to balance what the budget can be to build it.  And to market test it too. Technical founders often greatly underestimate the cost and time needed for marketing.  It can...

  Absolutely not. The President is a legally defined position with all kinds of legal rights and responsibilities. Every other officer serves “her pleasure” maybe with some contract for termination rights. Many President rights and responsibilities can vary by state and/or the company’s charter, but always way above any other Officer. It is where the “buck stops”. Anyone who is a Vice President or Officer can sign a legal contract or document for a company, binding the company legally. And should have mostly discretion in their area of the business, but that has limits, and a President can always override...

  Below is a list of the skills we teach at The CEO & Entrepreneur Boot Camp. Lacking any one of them can kill a company or doom it to the “living dead” barely surviving. No one builds a successful business alone, though. It requires a team. Only about 1 in 17,000 companies reaches $100M. Only 0.4% will break even $10 million. This is because the larger the company gets, till a certain point, the more skills you need. Companies over 100 people then become easier and easier to run because the systems, people and teams are in place. Startup CEO...

Yikes. You are getting some bad answers here. In fact, some don’t even seem to know what a startup is really. Below is a link to a free video series I authored called The Entrepreneur's Journey, and it maps out almost everything a startup needs, mostly the stuff they don’t know they need. However, let’s start with that definition of the word startup. A startup is not copying someone else's business model, freelancing or opening a dry cleaner. It is doing something new and different. Combining resources uniquely to create value for customers. In fact, if you are not doing...

 There is a lot of talk about creating and maintaining a vision, especially as part of a CEO's job. In my opinion, ‘vision’ is a term that is both greatly overused as well as largely misunderstood.  Many people consider vision to be an all-encompassing view of the product or service, while others expand its meaning to include the entire market and still, others believe the term encompasses far more. What is "Vision"? Why Do You NEED One? How Do You Use it? How Do You Know It Is Complete? Having been personally responsible for a corporation’s vision for many years, I believe it covers more than...