VIDEO: Leading Your Business Through An Economic Crisis
With little warning, the COVID-19 outbreak has created a serious threat to many of the businesses JumpStart supports. On March 26, we assembled an online panel of business experts from our Burton D. Morgan mentoring program to discuss this threat and provide real and practical advice for business owners during this time of uncertainty. Below
Four Tips for Managing Your Business in Uncertain Times
The 2020 COVID-19 outbreak has kicked off an unexpected chain of disruptions to our lives, our businesses and our economy. There’s no perfect roadmap for businesses trying to navigate the months ahead, but there are ways to help cope through the uncertainty. We pulled in Anne Richie and Heather Hall, two of our highly experienced
5 Building Blocks Of A Great Brand
Put simply, a brand is your identity— it’s the impression consumers have or the emotions they feel when hearing or seeing your product or company name. It’s more than your logo, more than your messaging and more than your product experience—rather, it’s the sum of all the interactions an individual has with your company, each
3 Steps To Profitably Price Your Product Or Service
As an entrepreneur, how do you set appropriate prices for your product or service? This can be a difficult decision to make—choose a price that’s too low and you may weaken profits but assign a price that’s too high and you may deter consumers. While there is no one-size-fits-all answer for how to price your
Five Lessons I Learned Founding OnShift From My Cleveland Basement
More than a decade ago, I moved to Cleveland from San Francisco and started a brand new company called BAZMANsms. Today, the company I launched from my basement employs nearly 150 people, has thousands of customers across the U.S., has raised over $33 million in capital and is showing no signs of stopping. What’s that
5 Essential Legal Issues To Address Before Securing Venture Capital
According to the MoneyTree™ Report by PricewaterhouseCoopers, venture capitalists invested $71.9 billion in 5,052 deals last year in the U.S., making 2017 the second year that saw dollar funding top $70B. The PwC MoneyTree Report further notes that global funding increased nearly 50% in 2017, with $164B invested across 11,042 deals. So what are these
The Fine Art Of Financial Forecasting
Forecasting is an entrepreneur’s best attempt to map the future financial performance of their business. Done well, the financials are a powerful tool; but they are as much art as science—especially when you’re raising cash from investors who are looking for “explosive and credible” growth or you’re preparing to develop operational and staffing plans that
Market Validation: Are You Doing It Wrong?
When I started my first successful company I spent a great deal of time validating my belief that I had found a big problem, in a big market, with customers willing to spend money for the solution. Still, it took me almost two years to start seeing real traction and predictability in my revenue. It
Understanding Funding: The Stages Of A Typical Startup Company & Its Funding Options
Whether you’re a first-time entrepreneur or a seasoned pro, one of your first and most important tasks is to raise the capital you need to grow your venture. The good news is, there are more options than ever. The bad news is, it can sometimes be difficult to know where each option fits into your
7 Must-Read Mentoring Articles
Mentors provide startups an advantage, and there’s proof. According to stats reported by the Startup Genome Project, startups are seven times more likely to raise investment money and three-and-a-half times more likely to grow user numbers for their products and services if they have helpful mentors. However, other aspects of the process aren’t so clear-cut:
Introducing StartupNEO.org: The Easiest Way For Entrepreneurs To Access Resources In Northeast Ohio
Have you ever wondered what types of organizations and resources are available to help Northeast Ohio’s tech entrepreneurs grow their ventures, reach their goals and achieve their dreams? Look no further! We’re thrilled to announce the launch of StartupNEO.org, the Northeast Ohio Startup Network’s easy-to-navigate directory of local space, capital, advice, support and connections needed
6 Questions To Ask Yourself When Preparing For Fundraising
Let’s face it, starting your own business is difficult, and no matter how unique your idea is, it’s unlikely to get off the ground without proper funding. Securing the necessary funding to start and sustain a business is one of the biggest hurdles that every aspiring entrepreneur will face. Fortunately, in Northeast Ohio, there is