December 21, 2014

Small Business News: Startup Synopsis

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What do you need to start a business? Perhaps less…and more than you think. No matter what preparations you have made, the startup process will surprise you with the unexpected wrinkle. And the key to survival? Adapt. Here are some basic suggestions across the Web and some recommendations on the startup process. Starting a business? There may be few other equal challenges. To meet the challenge head on you must be prepared but also expect some bumps on the road.

The Basics

How to kill a startup in 12 easy steps. Creating a small business is hard enough. Don’t make it worse by taking these disastrous steps. Not all may apply to every business, but be aware that failure to realize these errors could sink your ship fast. Startups are a fragile balancing act. Realize the dangers as you walk the tight rope to success. Insert Coffee To Startup

What’s your entrepreneurial motivation? What is it that motivates you to be an entrepreneur, not simply to own and operate a small business to work for yourself or to be your own boss, but to start a new business out of nothing possibly over and over and over again. Venture capitalist Brad Feld believes his own motivation has been to learn something new with every new business he helps to launch. What are you getting out of your entrepreneurship? Feld Thoughts

What Sponge Bob SquarePants can teach us about startup work ethic. OK. It’s time to have a bit of fun here. But at the same time, this post has some wonderful suggestions that can easily be applied to your work as a startup entrepreneur. What attitudes and approaches to business in general knowledge can the fellow who “lives in a pineapple under the sea” bestow to entrepreneurs trying to build their first business? AOL Small Business

Funding Options

How will you fund your small business startup? From sweat equity to private investment there are MANY options out there for getting the cash together to get your small business off the ground. Not all will be a good fit for your business, but use this as a jumping off point and with some careful study, figure out which of these options is best for you. GrowVC

Which path will your startup business take? Ken Kauffman describes a tale of two entrepreneurs, one favoring a heavily funded fast growth strategy the other a bootstrapped approach in which customers come on board slowly. Is one approach superior to the other? Some would argue the bootstrap model is more in tune with the times but both approaches will have very different outcomes. CFO Wise

Fred Wilson’s Equity 101. What is your share in the equity of a startup worth? Before the business makes one thin dime at the very start, that value would generally be about zero and, if the venture fails, your equity share will be worthless. If you’ve agreed to work at a startup for a share of the equity, do you understand what that equity is truly worth. It will save misunderstandings and hard feelings later on if the team of a startup clearly delineates these shares from the beginning. A VC

Bootstrapping

How to bootstrap religiously. With the end of easy credit and the uncertainty of the success from a new small business law aimed at creating investment capital for small businesses, a much older and simpler kind of business startup may be the wave of the future. How much older, you ask? Well, let’s open the Good Book and turn to… Michael G. Holmes

Eight tips for getting better at this bootstrapping business. Planning for failure is one of the worst approaches to building a new business. This is especially true of bootstrapping businesses where entrepreneurs had best be ready to get their hands dirty. There’s no working a full-time job while putting a project like this together. Startup Professionals Musings

Best Laid Plans

Could your business plan be hurting your startup’s chances? If you’re looking for funding for your small business, you’ll definitely be asked for a business plan. While some entrepreneurs, especially bootstrappers, sometimes question the need for a formal plan, even those advocating creation of a full plan to seek finding insist many plans today are not constructed properly to secure the funding you need for success. Rockstar Group

In Conclusion

A startup post mortem. In the end we may learn as much from failure as we do from success. This is especially true when entrepreneurs can be truly honest about what they did right and what they did wrong. That’s what entrepreneur Ben Yoskovitz tries to do in this review of his not-so-successful startup Standout Jobs. Thanks, Ben! Instigator Blog

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3 Reactions

  1. Motivation is the most significant issue. Probably, you should fail before you get right.

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