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For entrepreneurs, the importance of cash flow cannot be overstated. Simply put, no cash, no business. Perhaps it's a good time to re-examine a few concepts about accounting and finance.
An effective drug-testing program can make your workplace safer. Base your policy on legitimate business considerations and apply it fairly. Here's how to comply with the law, avoid litigation and encourage employees to seek treatment.
A culture of fun and respect for customers and employees pervades this family-owned furniture business that has been sold to legendary investor Warren E. Buffett, writes the author. Culture is what can't be taken away, even after a company is sold, as both the author and his brother are still actively involved, he notes.
Entrepreneurs confronting the unhappy task of having to downsize when business conditions change need to execute in a way that preserves the dignity of, and, ultimately, the relationship with, the employees, says an entrepreneur who laid off her entire staff in the wake of the dot-com crash. Downsizing well involves throwing away the rulebook and dealing with people on a personal level, she writes.
Vinod grew up dreaming of being an entrepreneur. He was raised in an Indian Army household with no business or technology connections. When, at age 16, he first heard about Intel, he dreamt of starting his own technology
company. Upon graduating with a Bachelors in Electrical Engineering from the Indian Institute of Technology, Delhi, he tried to start a soy milk company to service the many people in India who did not have refrigerators. He then came to
the US and got his Masters in Biomedical Engineering at Carnegie-Mellon University. His startup dreams attracted him to Silicon Valley where he got an MBA at Stanford University in 1980. In 1982, Khosla started Sun Microsystems to build
workstations for software developers. At Sun he pioneered "open systems" and RISC processors. Sun was funded by long time friend and board member John Doerr of Kleiner Perkins Caufield & Byers. In 1986 he switched sides and joined
Kleiner Perkins where he was a general partner. There, he worked with Nexgen/AMD, Juniper, Excite, and many other ventures. In 2004, Khosla formed Khosla Ventures. Khosla Ventures offers venture assistance, strategic advice and capital to
entrepreneurs. The firm helps entrepreneurs extend the potential of their ideas in both traditional venture areas like the Internet, computing, mobile, and silicon technology arenas but also supports breakthrough scientific work in clean
technology areas such as bio-refineries for energy and bioplastics, solar, battery and other environmentally friendly technologies.
Service companies aiming to grow fast enough to attract financing need to address the weaknesses inherent in such business models, says the founder of a human-resources consultancy.
Effective business planning is critical to an entrepreneurial company's long-term success and its ability to raise capital and grow successfully. A properly prepared Business Plan should tell a story, make an argument and conservatively predict the future. All companies have different stories to tell, different arguments to make and different futures to predict, so they must resist the temptation to copy from others or to follow a rigid outline.
Google founders Larry Page and Sergey Brin recruited Eric Schmidt from Novell, where he led that company's strategic planning, management and technology development as chairman and CEO. Since coming to Google, Schmidt
has focused on building the corporate infrastructure needed to maintain Google's rapid growth as a company and on ensuring that quality remains high while product development cycle times are kept to a minimum. Along with Page and Brin,
Schmidt shares responsibility for Google's day-to-day operations. Schmidt's Novell experience culminated a 20-year record of achievement as an Internet strategist, entrepreneur and developer of great technologies. Schmidt's well-seasoned
perspective perfectly complements Google's needs as a young and rapidly growing search engine with a unique corporate culture. Prior to his appointment at Novell, Schmidt was chief technology officer and corporate executive officer at Sun
Microsystems, Inc., where he led the development of Java, Sun's platform-independent programming technology, and defined Sun's Internet software strategy. Before joining Sun in 1983, Schmidt was a member of the research staff at the
Computer Science Lab at Xerox Palo Alto Research Center (PARC), and held positions at Bell Laboratories and Zilog. Schmidt has a bachelor of science degree in electrical engineering from Princeton University, and a master's and Ph.D. in
computer science from the University of California-Berkeley.
A business model that aims to consolidate in the fragmented tour-packaging industry must rely on the entrepreneurial owners of the local businesses it acquires, according to the writer. A case is made for developing the people who will build the business, rather than, as is practice for many consolidators, putting them out of business.
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