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May 05, 2010 -
Think of yourself as a bottle of Gatorade®. Why? Because when sales of the neon-colored beverage went flat last year, Gatorade’s marketing team rebranded the drink by touting it as a health-oriented, before, during and after sports drink. Although the ingredients are probably the same, the pitch changed.
It’s a great strategy to mimic if you’re looking for a new job or seeking investors to support an entrepreneurial venture, especially if you’ve been demoralized by losing a corporate job.
“Remember, you are not a job title,” said Diane DiResta, a speaking strategist and author of Knockout Presentations. “You have to look at yourself as a package of skills and strengths.”
Entrepreneurship means risk, writes the author, a veteran journalist turn dot-com entrepreneur who lived to tell the tale in a best-selling book. In an equally frank article, he speaks about teetering on the brink of financial and marital collapse before securing financing, and advises fledglings to assess their tolerance for risk and level with loved ones before taking the risk-laden entrepreneurial plunge.
As an entrepreneurial company grows and adds layers of management, it can and should consider policies that address work and family issues or risk inconsistency across departments, writes the founder of a human-resources services firm. The author advises companies to examine four areas: scheduling, flexibility, telecommuting, and childbirth leaves. Increased productivity will be the company's reward.
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.
A system for measuring each executive's contributions must be instituted as a company matures to avoid issues that could impair agility: complacency, departmental infighting and staying too long on the job, says the founder of a human-resources consultancy.
This entrepreneur expert asserts that without a well-developed hiring process, entrepreneurs tend to make mistakes that can set their companies back. To build a high-performance top team, the author illustrates his three-step plan to reduce risk and increase hiring successes.
Your company's unique characteristics guide your choices regarding executive compensation. Consider the current stage of company development, plans for future growth, intended liquidity path for company equity, and overall management philosophy around sharing financial information and rewards to help you determine what makes sense for your situation.
Entrepreneurs struggle with how much to pay themselves and the need to use financial resources to ignite growth versus reaping cash rewards for their own labors. Once outside equity investors are involved, the struggle and decision passes to board members. This founding entrepreneur, minority shareholder in his own company, shares what has worked for his company.
If you're thinking about entrepreneurship, you've probably heard that you should start your business before you quit your day job. It's good advise, but not always practical.
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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