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In the two years I have been writing a column for Forbes, no piece has received more responses than the one published just prior to the last presidential election. In it, I made nine predictions regarding the impact an Obama administration would have on the legal landscape, especially with regard to small businesses.
Now that we are at the beginning of a new decade, as well as the president's second year, I thought it would be interesting to see how I did. For those keeping score, I nailed all but one.
I'll admit I like being right. Too bad prescience often comes with a price.
In the introduction, I noted that the triumvirate of President Obama, Sen. Reid and Speaker Pelosi would be "potentially one of the most liberal governments the country has had in decades." I was wrong: This government may be the most liberal in the history of the United States.
The statistics surrounding the survival rate for small businesses have long been subject to fervid debate. Depending on who you're talking to, the predicted life span for a startup can elicit grim to cautiously optimistic responses.
Lessons learned, key qualities and insights that will help an entrepreneur to succeed.
Selling your business to another individual or company is one of four usual choices for liquidating your equity. Here's a review of the pros, cons and alternatives that may help you evaluate your plans.
When asked about your business, you need to have a quick and compelling answer ready--you need an elevator pitch. This article discusses the important aspects of developing and delivering your elevator pitch.
The power to make a difference comes when you look inside to find what you have to give.
For effective strategic partner recruitment, the author recommends an eight-step plan, which includes identifying your target market, developing partner selection criteria, and developing an alliance plan with a selected partner.
When structured properly, a strategic partnership with a large company can catalyze a small firm's growth. In establishing a partnership, entrepreneurs should focus on how their product will be sold, who will sell it, and how the partner will facilitate sales growth.
When getting ready to engage with a strategic partner, entrepreneurs should enter into a written agreement when working with these partners to ensure, among other items, the proper assignment of invention terms and various representations and warranties.
Careful measurement and management of your partnerships can protect entrepreneurs from entering into agreements with the wrong strategic partners, and it can provide a sound basis for making the most of productive partnerships.
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