I always feel the next step once you have an idea is to validate it by creating something simple that you can put in front of someone, so they can review and give feedback. This can come in different forms 1) Verbally describing the solution and getting feedback from target customers 2) Design s...
In my experience, every step you take to complicate your company's structure and ownership rights reduces the likelihood of investors providing your venture with seed funding. To attract seed funding, investors expect a single-minded laser focus on the entrepreneurs' assessment of his or her bes...
Having worked in a large non-profit, I'd need to know whether your product aligns with the mission and the goal priorities of our organization (the first hurdle). You might be surprised to know that non-profits get approached about being involved in a lot of things. Whether something is "free" or...
Hi, If you were going to sell the business, the first thing a knowledgeable buyer (or investor) would do is normalize the wage expense vs. fair market. If you and the other founders are not paying yourselves what you would earn working for a stranger, then your financial statements are meaningle...
Build and iterate the idea, and your understanding of the type of person that would want to buy it. Make each iterative step as you gain enough confidence to invest the time and money needed to take that step. For instance, you can start by asking friends and family while it's still just an ide...
Enterprise companies approach sales for B2B a little different. There's a (1) structure and there's (2) talent. They can scale just because they can but they are also very wary of focusing their resources to the right people. On the other hand, companies who are at SME stage may need more effor...
Maybe the prudent approach is to create a parallel system which includes all the newer technologies. Instead of an all or nothing transition, transfer one (or a few) functions at a time. If something goes wrong, you have a failback. If things work well, you can speed up the transition until ev...
Hi there. I don't know of one but sounds like it would be super helpful if there was one. Curious to see what people include here...
Could be! You do raise a good, unexplored space of connecting and monetizing referrals. I've been working with a few HR startup types and I do know that this would be valuable resource. The trick is the angle you take - is this 'buddies helping buddies' in a quiet, hidden informal way, or is th...
Check out a site called SweetProcess to help you build out systems. And also read a book called the E-Myth Revisited to learn the mindset for building them all out. Version 1.0 should be good. 1 year later you'll do a big update to it based on Franchisee feedback for V 2.0