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Best Practices for Setting Up a Family Office

Best Practices for Setting Up a Family Office In setting up a family office consider these best practices: Build an investment strategy that leverages the strengths of the family including their skills, resources and network. Set up a formal diligence process to screen incoming deals in a rigorous manner. Assess the skills and capabilities of […]

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Drawbacks to Starting a Family Office

Drawbacks to Starting a Family Office There are drawbacks in starting up a family office. Consider these challenges in setting up your family office. The upfront and ongoing costs can be considerable. These costs include the following: Hiring professionals and operational people can cost a great deal in today’s market. This includes not only salary, […]

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Operational Objectives for a Family Office

Operational Objectives for a Family Office In running a family office there are several key operational objectives for the family office to achieve. Here’s a list of key areas to consider: Governance. This includes leadership, board management, communications and succession planning. The leadership should continuously improve the operational efficiency of the family office. Cost structure. […]

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Choosing a Leader for a Family Office

Choosing a Leader for a Family Office In setting up a family office, one must choose someone to lead it. There are several types of leaders to consider: Operations — focuses on the day-to-day tasks of running the business. This leader provides oversight over all aspects of the business including investments, tax, and administration. Specialist […]

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Problems in Family Offices

Problems in Family Offices There are challenges in running a family office. Here are some key problems to watch out for: Treating the family office as a hobby rather than a business. The family office is a legal entity with employees, investments, and tax filings. It’s important to treat it as a business for everyone […]

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Functions of the Family Office

Functions of the Family Office The family office provides many functions in a family business. Here’s a list of functions to consider including in your family office: Wealth management – this involves setting objectives, identifying investment opportunities and providing ongoing oversight. Impact focus — this includes pursuing investments and activities that promote a social, economic, […]

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Types of Family Offices

Types of Family Offices Family offices vary in type and structure. Here are three types of family office structures to consider. Single-family office. This structure provides services exclusively to one family. It offers the most customized program. It is the most expensive type of family office structure. It works best for ultra-high-net-worth families. Multi-family office. […]

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Benefits of a Family Office

Benefits of a Family Office There are several benefits to setting up a family office. Here is a list of key benefits to consider: Carry out the stated mission of the family business. Optimize the wealth of the family through investment strategies. Reduce taxes through tax-advantaged structures. Provide education to the family members who will […]

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Structuring a Family Office for Tax Benefits

Structuring a Family Office for Tax Benefits Structuring a family office for tax benefits is a key consideration in setting up a family office.  Consider these points in structuring your family business for tax purposes. Because the family office is a separate legal entity, one can move additional costs from the family members to the […]

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Structuring a Family Office

Structuring a Family Office Structuring a family office requires many decisions in order to find the optimal solution. Consider these points in structuring your family business: Who does the family business serve? This typically includes the family and their offspring.   What services should the family office provide? There’s a cost to the business for providing […]

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Goals of a Family Office

Goals of a Family Office Family offices can pursue several goals. Here’s a list of key goals to consider for your family office and their implications in setting up the business. Investments — the complexity of the investments determines the number and type of advisors to engage. The simpler the investments the less support required. […]

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Do You Need a Family Office?

Do You Need a Family Office Before setting up a family office, first consider if you need one. Here are some key considerations to review: Do you have the income to support a family office? Aside from a high net worth on paper, you’ll also need to fund the operations that require cash flow. Consider […]

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Keys Steps in Setting Up a Family Office

Keys Steps in Setting Up a Family Office In launching a family office there are several decisions to make. Here are key steps in setting up a family office: Choose a family office structure. There are three types of family offices, single, multi, and virtual. The single-family office serves one family while the multi-family office […]

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Before Setting Up a Family Office

Before Setting Up a Family Office A family office manages the wealth of a family. Before starting a family office consider these points: What is the asset level of the family office? The fee is based on the assets under management. The higher the asset level, the higher the fee. What services does the family […]

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How the Board Can Help During a Turnaround

How the Board Can Help During a Turnaround During a turnaround, the board should help. Here are some key steps to engage the board in the turnaround process. Interview the board for their input on the turnaround plan. Reconfirm the board’s role in the company. Define the specific activities the board should engage in. Set […]

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Why Turnarounds Fail

Why Turnarounds Fail Just as not all startups succeed so not all turnarounds succeed either. Here’s a list of reasons why turnarounds fail: Failure to adapt. The market continually changes so it’s important to keep up. Make sure you are following the market and change to meet it. Failure to embrace the challenge. Turnarounds require […]

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Managing Employees in a Turnaround

Managing Employees in a Turnaround During a turnaround, it’s important to maintain team morale and involve everyone in the process. Here are some key steps to managing the team. Make clear the need for the turnaround. Employees may not have visibility on the financials and don’t know how much the company is losing. They also […]

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The Four Rs To Turnaround a Business

The Four Rs To Turnaround a Business A turnaround can take several forms based on the severity of the changes required. Some businesses require a complete overhaul of their operations while others perform a repositioning or rebranding. Here are the four Rs to turn around your startup: Retrenchment. In retrenchment, the business refocuses on the […]

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Key Tests of a Turnaround Process

Key Tests of a Turnaround Process In turning around a startup there are key tests you must pass to achieve success. Here’s a list of tests: Is the core business viable? If the basic business won’t work then no amount of funding or strategy will save it. Do the team and the investors buy into […]

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Best Practices for a Turnaround

Best Practices for a Turnaround There’s an old saying, ‘Never let a good crisis go to waste’. A turnaround is not only a crisis but also an opportunity to rebrand, redirect, and reposition the company. Here are some best practices for working on a business turnaround. View each turnaround as unique and customize your approach […]

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How To Turnaround a Business

How To Turnaround a Business Hello, this is Hall T. Martin with the Startup Funding Espresso — your daily shot of startup funding and investing. A business turnaround is just like any other aspect of running a business. Here are some key steps in running a turnaround program for your startup: Identify the problem to […]

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Hiring a Turnaround CEO

Hiring a Turnaround CEO In many turnaround situations, you’ll need to hire a new CEO. Here are some key points to consider when hiring: Track record — look for someone with a proven track record in turning around businesses. Cash management — needs to monitor cash on a daily basis and manage all expenses closely. […]

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Stages of a Turnaround Process

Stages of a Turnaround Process There are several stages in a business turnaround. Consider these phases for your startup: Assessment: This phase determines the crises and their impact on the business. This can include both internal and external factors. Triage: This phase sorts through the potential strategies to recover the business. This can include reorganizing […]

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Key Strategies To Turnaround a Business

Key Strategies To Turnaround a Business To turn around a business you must take action early and not wait till it’s too late. Here are some key strategies to take to turn around your business: Assess the situation. Review the market to see if the company is still competitive in the current landscape. Check to […]

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Signs the Startup Needs a Turnaround

Signs the Startup Needs a Turnaround Here are some signs your startup needs a turnaround: You’re close to breaching loan covenants. The financial performance is still below expectations. The startup’s revenue and profitability are below the industry average. Cash flow continues to be a problem. The startup has been running for a few years but […]

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Business Turnarounds

Business Turnarounds A business turnaround is taking a company that is underperforming and modifying its operations and strategy so that it recovers financially. Startups who are candidates for a turnaround are not doing well. They suffer from a lack of leadership, focus, strategy, or execution.  Consider these steps in a turnaround situation: Identify the problem.  […]

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Data Models

Data Models A data model is a visualization of the data showing the structure, rules, and relationships for how it works. Here’s a list of key data models to consider for your data program: Concept — shows at a high level the overview of the data blocks and what they do. Logical — shows the […]

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Data Terms To Know

Data Terms To Know In working with data there are key terms used in the industry. Here is a list of terms to know: Data governance — a set of rules and procedures for managing data for integrity, regulatory and security purposes. Data warehouse — a central repository for all the data. Data mining — […]

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Data Sources for Monetization

Data Sources for Monetization In a startup, there are many sources of data to draw from for monetization. You can capture primary data from your own systems. Consider this list for gathering data from your startup: Start with your customer database or CRM. Review the webforms that capture inbound user traffic. Review your online and […]

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Key Factors in Building a Data Business

Key Factors in Building a Data Business In building a data business here are some key factors to focus on: Provide high-quality data that provides value to the customer. Low-quality data commands a lower revenue rate. Look for data that others don’t have. The more unique the data the higher the monetization value. Focus on […]

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Using Data To Increase Sales

Using Data To Increase Sales The market for data continues to grow providing an opportunity for startups to increase revenue by monetizing their data. Consider these points for monetizing your data: Sell your data directly to other companies.  This could be customer behavior, customer preferences, market data and more. Be careful with personalized data and […]

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Five Business Models for Linked Data

Five Business Models for Linked Data Linked data is structured data that is linked to other data making it more useful for searches and queries. A wiki site often holds linked data sets. Here’s a list of five business models around the use of linked data. Subscription revenue such as monetizing the data directly. This […]

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Business Model Examples for Data

Business Model Examples for Data There are several business models used for monetizing data. Here are some of the more commonly used ones: Brokerage — this model matches data providers for data users for a fee. There are thousands of data sets available and many of them are not easily found. Bundling — this model […]

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Building a Data-Driven Business Model

Building a Data-Driven Business Model A data-driven business model can accomplish a number of goals such as increasing brand awareness, understanding the customer better, and improving products and services. Here are the key steps in building a data-driven business model: First, determine the outcome of the business model. Find clarity on the goal of it. […]

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Data Monetization Requirements

Data Monetization Requirements Monetizing data requires several key components. Here’s a list of components needed to monetize your startups data: Ability to acquire the data — the more you can source your own data versus relying on others the more valuable your data will be. Ability to store the data acquired — you’ll need a […]

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Data Business Models

Data Business Models There are several ways to approach data monetization. Here are four approaches to consider for your data: Basic content — this business model provides raw or analyzed data that can be used as is.  An example is a customer list with contact information. One can sell this list to other companies who […]

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Data Strategy

Data Strategy In monetizing data for your startup, you’ll need a data strategy. Here are the key components of a data strategy: Identify the problem to solve — the problem must be specific enough to indicate the type of data needed to present a solution. Store the data — you’ll need to capture raw data, […]

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How To Monetize Your Data

How To Monetize Your Data There are several business models for monetizing data. Consider these models for your startup: Mining your own data — this business model takes your own startups data and uses it to provide new services and products for the business. This could be creating a resource list from your research to […]

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Data Monetization Models

Data Monetization Models There are several data monetization models for startups.  Sources of data come from a large network of customers, in depth content, or heavily trafficked websites. Consider these for your startup. Data as a service — takes data generated by the startup and makes it available to other companies.  For example, weather data […]

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What Is a Data Strategy and Why Is It Important

What Is a Data Strategy and Why Is It Important A data strategy is a comprehensive plan to use data to drive business decisions. You can use it to monetize data to achieve your business goals. Data strategy has four components: Story — it tells the goals of your business and how data enables it […]

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UX Design

UX Design UX design provides the experience the user encounters when using a product. This is different from the user interface which is simply how the information is rendered to the user. The UI consists of the typography, color palettes, and navigation. The UX is the customer journey with the product. It consists of the […]

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Product Engagement Metrics

Product Engagement Metrics Product engagement is a key metric to track as it can predict revenue growth and churn rates.  To track product engagement metrics consider the following: Build tracking metrics into the product that captures user activities. Capture key metrics such as number of active daily/weekly/monthly users. Capture trial to paying customer conversion rates. […]

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Product Data

Product Data Product data refers to the data about a particular product or generated by that product.  This is separate from version control which tracks each version of the product and the features it contains. Product data refers to the brand name, product description, schematics, source code, cost to build, price to sell, sales forecasts […]

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Pre-Seed Product Work

Pre-Seed Product Work In the early stages of the startup, before the product is designed and launched, there’s product management work to be done. Consider these points for the pre-seed stage product work: Focus on the problem the customer has. Understand it very well.  Don’t get your heart set on a specific instantiation of the […]

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Product Management Best Practices

Product Management Best Practices Product management is an ongoing process of analyzing the market and monitoring customer needs. Here are some best practices for implementing product management at your startup: Focus on your customer and not your product. If every discussion with a customer starts with your product then you limit the feedback from the […]

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Product Experience Best Practices

Product Experience Best Practices Product experience is the customer’s journey with the product from adoption to trial to ongoing usage.  This is separate from the customer experience which includes interactions with the company including buying the product, training, support, and more. The better the product experience, the better the overall customer experience which results in […]

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Product Differentiation Features

Product Differentiation Features In product development, there are several types of features. These include basic requirements, nice to haves and differentiators. The basic requirements are table stakes.  All products in the space have those features and customers expect them to be there. These are must have features. Then there are the nice to have features. […]

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Before Product Development

Before Product Development Hello, this is Hall T. Martin with the Startup Funding Espresso — your daily shot of startup funding and investing. To ensure you are developing the right product for your target customer ask these questions first: What are you losing customers over? If customers choose another product because you don’t have a […]

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Product Challenges

Product Challenges There are many challenges in developing, launching and maintaining a product.  Here’s a list of challenges to consider: Choosing what product to build. Look for customers with unmet needs and build for them. Choosing your ideal customer. The ideal customer is the one you chose with unmet needs. Understanding customer requirements. You need […]

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More MVP Mistakes

MVP Mistakes In starting a business there comes the time to build the minimum viable product. The most common mistake is planning a grand vision for the initial product. The MVP will be much smaller than the vision. MVPs often gather customer feedback on the usefulness of the product but not the actual careabouts of […]

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Minimize the MVP

Minimize the MVP Many founders brainstorm a grand vision for their product. While vision is a must have, realize you’ll need to start small. Raising too much funding early in the business will cost the founder unnecessary dilution. In building the MVP think minimum and not maximum. Keep the team to a minimum. Focus on […]

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What Is Product Management

What Is Product Management Product management drives the development, launch, and ongoing support of the product. Here’s a list of duties and responsibilities: Research the market and customers for the proposed product. Identify the customers’ key care abouts and pain points.  Size the potential market for the product.  Develop a position in the market for […]

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Product Roadmap

Product Roadmap The product roadmap lays out the vision of the product at a high level. It shows where the product is going and what must be done at each stage. It’s a visionary goal to share with potential investors and customers. In building your product roadmap consider the following: Each version of the product […]

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Product Management Tools

Product Management Tools Product management requires many skills and tasks to complete. There are tools that help accomplish these tasks. Here’s a list of tools to consider: User tracking and analysis – there is embedded software that tracks and analyzes user behavior.  This tells you what part of the product users spend the most time […]

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Product Management Skills

Product Management Skills Product management requires several skills to succeed. Here’s a list of skills to consider: Communication skills — the product manager communicates verbally and in writing with prospective users, customers, developers, and management. This comes in the form of planning the product, gathering feedback on the current version, and proposing next step features. […]

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Product Management in the Launch

Product Management in the Launch The product manager plays a key role in the launch of the product. Before the launch the product manager prepares sales and marketing. This includes product training, competition analysis, and website content. The goal of the launch is to establish an initial set of customers and grow the user base. […]

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How To Recover From a Bad Investment

How To Recover From a Bad Investment If you invest long enough you’ll make a bad investment. Here are some causes for a bad investment: Overpaying for the startup through too high a valuation. Making a snap decision on just a few factors such as the team or the market. Failing to perform thorough due […]

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How To Manage Retaliation

How To Manage Retaliation Retaliation is when a manager takes adverse actions against a whistleblower. This could be in the form of termination, reduction in salary or loss of benefits. Retaliation laws make it illegal for a manager to retaliate against an employee who blew the whistle. This includes potential, current and past employees. Retaliation […]

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How To Keep Your Job After Whistleblowing

How To Keep Your Job After Whistleblowing Keeping your job after whistleblowing can be a challenge.  Consider these steps to protect yourself: Retain an attorney to advise on the legal ramifications. Keep notes about calls, meetings, actions, and any retaliations from managers. Keep a copy of your performance reviews, work policies and procedures. Capture evidence […]

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Best Practices for Whistleblowers

Best Practices for Whistleblowers Many people have become whistleblowers. Here’s a list of best practices based on their experience: Find a lawyer before you become a whistleblower. Choose one carefully after proper research and one that works on a contingency basis. Maintain anonymity throughout the case and for as long as possible. Gather as much […]

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What You Should Know About Whistleblowing

What You Should Know About Whistleblowing Whistleblowers provide information to the authorities to help stop fraud. Here’s what you need to know about whistleblowing: There are multiple laws around whistleblowing so you should know the relevant laws for your situation. Whistleblowers are portrayed as downtrodden outcasts by the media which is rarely the case in […]

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How To Report Fraud

How To Report Fraud Fraud sometimes arises in the startup world. Here’s how to report fraud should it happen to you. If you discover fraud don’t pay any more money into it. Collect the relevant information and documents. This includes names of the suspected perpetrators and their contact details. Any information indicating the suspected fraud. […]

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How Do Whistleblower Laws Protect You

How Do Whistleblower Laws Protect You Whistleblower laws protect those who report fraud, waste, and abuse to the authorities. Here’s a list of cases of protections provided to federal employees: Disclosures made to those engaging in bad acts. Employees motive for reporting the bad acts. Disclosures made while the employee was off duty. Disclosures made […]

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Filing a Complaint With the SEC

Filing a Complaint With the SEC The Securities and Exchange Commission or SEC oversees the securities industry in the US. Here’s a list of sources of fraud related to securities: Ponzi and pyramid schemes in which funds collected from one investor are paid to another investor with no actual investment. Theft or misappropriation of funds […]

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Claiming Whistleblower Status

Claiming Whistleblower Status There are three Whistleblower programs, False Claims, SEC Whistleblower, and IRS Whistleblower. One can file multiple claims under each of the programs. One must file within a time limit of the act of fraud which in most cases is 10 years. Some IRS and SEC claims require a filing within three years. […]

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Team by Stage of Funding

Team by Stage of Funding At each stage of funding the startup will need a team to accomplish the goals. Here’s the team configuration at each stage: PreSeed – Founder and technical cofounder. The early-stage team needs someone building it and someone selling it. Seed — Founder and technical cofounder. The founder sells the product […]

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Success Rate by Stage of Funding

Success Rate by Stage of Funding The success rate of startups declines as one moves from seed to Series A and so forth. Success is defined as a successful exit for the investors through an acquisition of the company. Here’s the rate of success of startups at each stage of funding. Seed — 9% Series […]

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Primary Work by Stage of Funding

Primary Work by Stage of Funding At each stage of funding the startup team takes on a new set of tasks. Here’s the primary work at each stage: PreSeed — Define the market and identify the target customer. The early-stage team researches the market and talks with potential customers about product needs. Seed — Build […]

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Investors by Stage of Funding

Investors by Stage of Funding Each stage of funding brings a different set of investors. Here’s a list of investors to pursue by stage. Pre-Seed — Founders fund their initial startup research and market development. It’s too soon to take outside funding for what is not yet a formed business plan.  Seed — Family and […]

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Boards and Advisors by Stage of Funding

Boards and Advisors by Stage of Funding Each stage of funding brings a different set of advisors and board members. Here’s a list of advisors and board members to pursue by stage. Pre-Seed — Informal advisors and board members. They provide domain knowledge about target industries. Seed — Informal advisors and board members. They provide […]

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Financial Work by Stage of Funding

Financial Work by Stage of Funding Each stage of funding requires financial work to be done by the startup. Here’s a list of financial goals to consider for your startups fundraise: Pre-seed — identify locked value in a customer segment. The output of this stage is a target market that is ripe for disruption with […]

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Valuations by Stage of Funding

Valuations by Stage of Funding At each stage of funding there’s a valuation range for the startup. This changes over time with fluctuations in the market and by sector. Here’s a list of ranges to consider for your startups fundraise: Pre-seed — $50K to $100K The output of this stage is market research and an […]

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Fundraise Amount by Stage of Funding

Fundraise Amount by Stage of Funding At each stage of funding, there’s a standard amount to raise. Here are the fundraising amounts by stage: Pre-seed — $250K to $500K This funding sets up the business and launches the customer discovery and product development process. Seed — $500K to $1M This funding starts the MVP product […]

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Product Work by Stage of Funding

Product Work by Stage of Funding The founder works on the product throughout the life of the business. Here’s the product work to be done at each stage of funding: Pre-seed — research the market to identify the customer careabouts and product features. Check the competition for their positioning and what market positions are left […]

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Purpose of Family and Friends Funding

Purpose of Family and Friends Funding Family and friend funding is often used to start a business. Here are some key uses of funding at this stage: File the legal entity paperwork for an LLC, not a Delaware C corporation.  You can file for a Delaware C later if the business takes root. This gives […]

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Stages of Funding for Startups

Stages of Funding for Startups Startups go through a series of stages from launch to growth to scale. Each stage brings funding to the startup that serves the needs of its stage. Here’s a list of stages for startup funding: Pre-seed — this funding helps develop an idea, research the market, and build a core […]

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What Is a Whistleblower?

What is a whistleblower? Internal fraud is often caught by an employee. The employee who sounds the alarm is called a whistle-blower. The whistleblower is someone who reports fraud to the authorities. Whistleblowers fear retaliation for outing a manager or other employee. Those who want protections for keeping their job or avoiding criminal charges must […]

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More Ways To Prevent Fraud in a Startup

More Ways To Prevent Fraud in a Startup There are several types of online fraud. Here is a list of attacks to watch out for: Bots — these automated tools can infect your website and emails with viruses. Denial of service attack — this disables your website by sending too many requests for service. Cross-site […]

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How To Avoid Fraud

How To Avoid Fraud Fraud can be costly to a startup. Take these steps to avoid fraud in your business. Separate accounting duties — have at least two people handling the accounting and separate their functions. Know your team — run background checks on new hires and know your business partners’ history and background.   Oftentimes […]

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Types of Financial Fraud

Types of Financial Fraud There are several types of financial fraud related to startups in the investment industry. Here’s a list to consider: Misrepresentations — fraudsters can lie about the value, risks, and costs of financial investments. This also includes misrepresenting the financial condition and omitting key facts. Regulatory violations — this includes securities law […]

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External Sources of Fraud

External Sources of Fraud There are several sources of fraud from outside a business. External sources of fraud pretend to be someone you trust. They create a sense of urgency and then demand payments. Here’s a list of common sources of external fraud: Fake invoices — the invoices show services rendered for work that was […]

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Internal Sources of Fraud

Internal Sources of Fraud There are several sources of fraud within a business. Here’s a list of internal sources to review: Identity theft — the capture and selling of personal information for illegal uses. This is done by fraudsters capturing employee information through bank accounts and tax returns.  Asset misappropriation — this is basically theft. […]

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Red Flags Indicating Fraud

Red Flags Indicating Fraud Most fraud in businesses comes from employees and the management team. Here’s a list of employee red flags to watch for: Lifestyle changes show expensive new possessions such as new cars and homes. Substantial personal debt Addictions such as gambling or alcohol cause behavior change. Employees who don’t take vacation or […]

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What Is Fraud?

What Is Fraud? Fraud is officially defined as:  “The use of one’s occupation for personal enrichment through the deliberate misuse or misapplication of the employing organization’s resources or assets.” Fraud occurs in startups and small businesses and is usually through the action of a founder or employee. There are five elements of a fraud as […]

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How Does Chapter 13 Bankruptcy Work?

How Does Chapter 13 Bankruptcy Work? Hello, this is Hall T. Martin with the Startup Funding Espresso — your daily shot of startup funding and investing. Chapter 13  bankruptcy reorganizes the debt and sets up a payment plan. The debtor can keep their house as long as they make the payments. The debtor has 3-5 […]

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How Does Chapter 11 Bankruptcy Work?

How Does Chapter 11 Bankruptcy Work? Chapter 11  bankruptcy reorganizes the company and sets up a debt repayment plan. Here is how Chapter 11 works: It starts with filing a petition with the bankruptcy court. The debtor must file a list of assets and liabilities and a list of income and expenses. The debtor stays […]

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How Does Chapter 7 Bankruptcy Work?

How Does Chapter 7 Bankruptcy Work? Chapter 7 bankruptcy liquidates the company. Here is how Chapter 7 works: When a company goes into Chapter 7 bankruptcy proceedings, the bankruptcy trustee takes control of the company to liquidate the assets and pay the creditors. A Chapter 7 proceeding starts with a creditor filing a petition with […]

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What is Bankruptcy?

What is Bankruptcy? Business bankruptcy is meant to protect the personal assets of the owners of a firm. It gives your company a fresh start by relieving the business of debts. There are several types of bankruptcies. Consider these options for your business: Chapter 7 — Liquidation This shuts the business down and pays the […]

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Steps to Shutting Down a Startup

Steps to Shutting Down a Startup There are several steps to shutting down a startup. Here’s a list of key steps to follow: Pay what is owed to employees such as accrued vacation. Pay all providers such as contractors, software vendors, and others. Collect invoices from any outstanding accounts.  Notify all customers, partners, and vendors […]

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Preparing To Shut Down a Startup

Preparing To Shut Down a Startup Sometimes the startup you launched does not make it and must be shut down. In shutting down a startup take the following steps: Give an early warning signal to the employees. Let them know what is happening such as we’re raising additional funding. Give them a few month’s notice […]

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Shutting Down a Startup

Shutting Down a Startup Not all startups succeed. For those that don’t, there may come a time to shut it down. Here are some key points to consider in shutting down a startup: Before announcing the shutdown collect all accounts receivables. Sell any inventory left on hand. Notify investors first so they are aware. Notify […]

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Best Practices for Building a Company Culture

Best Practices for Building a Company Culture In building your company culture consider these best practices: Measure your company culture — review indicators that show how the company culture is performing such as employee engagement. Create rituals — establish activities you repeat consistently throughout the year to foster employee engagement and have fun. Storytelling — […]

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How To Foster Your Company Culture

How To Foster Your Company Culture A good company culture takes time and effort to build. Here are some steps to build out your company culture: Give outstanding benefits to the employees. Run team-building activities to encourage employee interactions.  Participate in community activities as a give-back. Promote wellness among employees and make it a part […]

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Signs of a Good Company Culture

Signs of a Good Company Culture Company culture is important for the success of a startup. Here are signs you have a good company culture: Employees feel they are respected and are treated with dignity. Leaders support the employees and help them succeed. Poor leaders are called out and removed from the organization. Leaders and […]

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How To Setup a Company Culture

How To Setup a Company Culture In building your company culture, realize you already have one for your startup. The initial hires have brought a culture to the company.  You can grow the company culture to a greater place. Consider these steps to grow and develop your company culture: Continue to hire people who share […]

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Before Building Your Company Culture

Before Building Your Company Culture Before building your company culture consider the following: Know your purpose Search for why your company exists. Identify your values Understand the core values of the company and what the company stands for. Hire the right people. Choose people who bring value to the company and fit the culture. Establish […]

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Characteristics of a Good Company Culture

Characteristics of a Good Company Culture A good company culture will manifest itself in several ways. Look for these signs of a good culture: Stable workforce — the employees stay with the company a long time and there’s minimal turnover. Friendly atmosphere —  relationships among employees go beyond that of colleagues. Engagement — employees are […]

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The Startup Company Culture

The Startup Company Culture The startup company culture brings a unique set of characteristics. Here’s a list of qualities to consider: Passion — the company is based on a driving passion to solve a problem or pursue a cause. Startups exude passion and everyone strives to work towards it. Personality — each startup has its […]

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Types of Company Culture

Types of Company Culture There are several types of company cultures. Here is a list to consider in building out the culture at your startup: Clan culture — this puts the team first and places everyone on the same level. This promotes equality rather than hierarchy. Customer culture — this puts the customer first. This […]

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Components of Company Culture

Components of Company Culture There are several components to building a company culture. Consider these elements in building out the culture at your startup: Purpose — the purpose of the company is the foundational element. The purpose motivates employees and drives the group toward a common goal. Growth — the company culture should provide for […]

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