No business can survive without customers. As opposed to employment and shareholder agreements which are irregular and typically customized, customer agreements either need to be significant monetarily (i.e. businesses who have large contracts) or plentiful (i.e. businesses who have multitudes of customers). Managing these relationships is a core requirement of the business, and survival depends… [Read more…]
In recent months, Paul Graham, a trailblazing venture capitalist in the Silicon Valley-based technology industry has focused his efforts on a movement to protect start-up technology companies. Graham asks larger established technology firms to commit to his patent pledge, to act ethically in relation to start-up firms with quality products. According to the American Bar… [Read more…]
In small business, relationships are personal. If you forget to pay AT&T, for example, no one is going to miss their next paycheck. However, if you forget to pay the graphic designer of a small, local firm, they may not be able to pay AT&T that month. If you forget to pay a small business… [Read more…]
Businesses are about relationships: customers, suppliers, employees, investors, banks, partners, strategic partners, etc. Without these other parties, we have no business. And while we may have altruistic and good goals of dealing with good people that we trust, these relationships sometimes break down. Contractual and business law, for the most part, has developed to create… [Read more…]
One major question in the world of small businesses is, “Are big banks lending enough to small businesses?” Generally speaking, the big banks, such as Bank of America, Citigroup, J.P. Morgan and Metlife, would answer that they are supporting this new era of start-up entrepreneurship. However, many small business advocates feel that loans have significantly… [Read more…]
Up and coming entrepreneurs are entering an incredibly competitive time for venture capital. Here are some tips from Fast Company to convince potential investors that your idea has validity. 1. Keep it realistic and authentic. Overestimating your potential success (i.e. making a billion dollars in the first year) will not convince potential investors that your… [Read more…]
Social media sites and the workplace can be a risky combination for both employees and employers. Beyond the obvious drawback of distracting an employee from his or her actual work, some employees have faced termination for posting unflattering remarks about their employers or customers on social networking sites such as Facebook and Twitter. Some employees… [Read more…]
The current recession and accompanying credit crunch have caused many individuals and businesses to use their existing credit to make ends meet. Fortunately, the Credit Card Accountability Responsibility and Disclosure Act (CARD), instated February 2010, provides small businesses with more credit options. CARD cracks down on questionable credit practices by small businesses, but it also… [Read more…]
The future of small business is more important than ever as the economic landscape becomes more and more defined by start-ups. Small firms of less than 100 employees employ approximately 36% of America’s workforce. Small businesses often need outside capital to succeed. However, all types of fundraising for private companies are government regulated. Since start-ups… [Read more…]
January 26, 2012
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