8 Ways Mentors Can Establish Trust
Trust in a mentor/mentee relationship plays a key role in the success of the mentorship experience, and can also have an impact on the long-term success of the business. Until you have a relationship that is rooted in trust, you cannot have an open and honest discussion about the challenges that face the business. But
7 Common Startup Myths
The Loch Ness Monster. Unicorns. Bigfoot. The Garage Entrepreneur. We’ve all heard of these mythical creatures. Sometimes they serve to explain the unexplainable. At other times, these figures are used to inspire and motivate. As an entrepreneur, when you hear common startup stories shared, you might want to ask yourself: Is what I’m hearing a myth,
What It Means To Be A Board Member
Being asked to serve on a board is a big responsibility, and so prospective board members should understand the opportunity before making a commitment. For starters, you should do your research on the company and its founders to make sure you are interested in, passionate about, and able to add value to the business. From
Finding Your Target Market
If you want to be big, you have to start small. This is especially true for entrepreneurs who are just going to market. In an ideal world, you’d be able to promote your small business to everyone and, furthermore, everyone would be interested. In reality, marketing to everyone is not only expensive, but ineffective. Even
5 Tips For Building Business Credibility
It’s not easy being the new business on the block, which is why building your credibility needs to be an early priority. For small businesses, your first customers are extremely important to building that credibility. According to research conducted by McKinsey, up to 50 percent of purchasing decisions are influenced by word of mouth. Credibility
What Does An Investor Look For In A Prospective Investment?
Most entrepreneurs in search of funding have a solid idea and focus. They’re passionate about their business, and they see a direct need for their product or service in the market. However, in some cases, these entrepreneurs don’t catch an investor’s eye right away. In other cases, perhaps an investor has expressed interest, but after
Understanding Due Diligence
So, you’ve found an interested investor. They’ve read your executive summary and heard your pitch. Just when it seems like being funded is in your future, the potential investor begins asking more in-depth questions. Perhaps they ask for a list of references, or more specific details on how you determined your financial projections. Welcome to
Becoming A Better Salesperson
As an entrepreneur, it’s natural to wear many hats within the company: managing the business, handling the hiring, and perhaps even overseeing the finances. And yet, when it comes to selling their product or service to a customer or an investor, many entrepreneurs feel that “sales” is a skill they just don’t have. The truth
So, You Want To Be A Business Mentor?
You’ve decided to take the plunge into mentoring. Perhaps a trusted business advisor helped you early in your career and you’d like to “pay it forward.” Or, maybe you just wish you’d had someone there for you when you needed a little guidance. Whatever the reason, your experience and lessons learned certainly could be very valuable
Fine Tuning The Investor Pitch
If you’ve ever tried to tweet something witty in 140 characters or text your friend some great pithy insights, you know that being “short and sweet” isn’t simple. Crafting and delivering a compelling story limited by word count or time is a challenge for anyone. Now imagine the future of your business is on the
How To Bring Your Invention To Market
Many people are looking to raise capital, connect with a mentor, or find other resources that will help them advance their businesses. Most of the time their ideas have been formalized in some way and they already have a business plan or maybe even a prototype. But lately, we’ve received several calls from serial inventors
Do Startups Need Employee Handbooks?
When you started out, you and the management team were like family. But you’re growing now and adding new people every week it seems. Naturally, you need a central document that sets out policies and procedures on how new employees should conduct themselves, right? Besides, isn’t having a handbook a legal requirement? Though not required,