I have said it a million times since learning the lesson myself in
a failed entrepreneurial effort a couple of years ago, the CEO of
any entrepreneurial venture must understand the importance of
managing cash flows and how to use cash flow analysis for the
strategic growth of the company.
Trust me, I am all into the Six Sigma approach of throwing a couple
of innovators together, rolling out a v1 product as quickly as
possible, and slowly scaling the company from hobby phase to a
successful...
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I was reminded today of something told to me by a friend last
year:
Good people who are smart
ask good questions
Bad people who are smart ask bad questions
Good people who are not smart ask bad questions
In business we are always looking for answers – but what we
really want are good answers. Today the issue is never
whether we have enough data (we arguably have too much), it is
whether we can properly utilize that data to make better
decisions. I see this especially in my Internet Law /...
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This is the third post in a series on developing a good business
model for an early stage company.
2. Solid Management
Team
I have heard it said that more businesses fail due to cash flow
than anything else. I completely disagree. I say that
more businesses fail due to management team issues than any other
reason. If a company dies because of cash flow, it is usually
because the wrong person was at the helm and poorly planning and/or
making bad decisions – either market opportunity was not...
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This is the second post in a series on developing a good business
model for an early stage company.
Proof of Scale and Proof of Commercialization (at
Profit)
Following POC, you want to prove that your concept can scale under
a viable business model. Proof of Scale and Proof of
Commercialization (at profit) work hand in hand as each is often
dependant on the other. POS refers to the ability for a
concept to scale in terms of sellable units in the marketplace and
business growth requirements....
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I had the privilege of speaking
at the
Rainmakers Incubator event this morning. I
thought the Rainmakers team did a nice job organizing the event -
even with a last minute change in location due to factors outside
of their control. Thank you guys for the opportunity to join
you this morning!
The topic given to me was "Three Things Every Entrepreneur Should
Know." My legal practice focuses on entrepreneurial law,
funding law, SaaS business law and securities law. In these
fields I see a lot of...
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This is the second part of a four
part series from the
SpendMatters blog
on the rise of
Iasta as a global leader in
eSourcing markets. The article is by Jason Busch, a Founder
and Managing Director of Azul Partners, a boutique advisory firm.
He is also Editor of the highly trafficked sourcing, trade and
supply chain blog
www.spendmatters.com.
Jason is regarded as one of the leading technology pundits and
thought leaders in the trade, procurement and operations
worlds.
I recently just completed...
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There is a great four part series on
the
SpendMatters blog which walks
through one industry expert's story of the rise of
Iasta as a global leader in eSourcing
markets. This was fun for me to read. I am going on my
ninth year of representing Iasta as it's Business law / SaaS law
counsel and have loved seeing them grow from a modest Midwest
auction software provider to a global SaaS eScouring leader.
It is definitely worth a re-post on The Business & Culture
Blog.
The article is by Jason Busch,...
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