Startup Professionals Musings

MAY 1, 2023

You need to find the skills or experience you don’t have in business, technology, or money. Giving a cofounder a salary won’t get you the “fire in the belly” you want. Building a new business is quite different from an executive role in a mature company, so people from these backgrounds are often a liability.

Technical Cofounder 247

Technical Cofounder Equity Distribution Cofounder 247

Startup Professionals Musings

AUGUST 26, 2019

I have seen too many great ideas fail due to poor execution, and less impressive ideas succeed due to an innovative business plan, implemented and managed by the right team of entrepreneurs. You have to pay big salaries to get top-notch help. Most business partners I know take little or no salary in the early years.

Bandwidth 246

Bandwidth Software Review Salary Angel Investor 246

Startup Professionals Musings

JUNE 11, 2022

This could work to get you legal or accounting services, but won’t get you cash to pay employee salaries. You still start the process with a business plan, but then you look for a philanthropist rather than an investor.

Angel Investor 327

Angel Investor Equity Technical Review Exit Strategy 327

Up and Running

NOVEMBER 12, 2018

There are several different types of business plans that can help you stay on track. If you’re seeking a bank loan or outside investment, you probably need a traditional business plan. But if you’re writing a plan as an internal guide for strategic growth, you should consider a lighter version— a Lean Plan.

Business Plan 63

Business Plan Curation Balance Sheet Intellectual Property 63

Up and Running

JANUARY 29, 2019

Though you may be tempted to immediately throw yourself into your new small business, don’t forget a crucial element: creating a business plan. Yes, the words “business plan” might trigger some dread about epic documents that take a ton of time to produce—but that’s not necessarily what a business plan needs to be.

Lean 64

Lean Business Plan Revenue Forecast 64

Startup Professionals Musings

AUGUST 9, 2020

You need to find the skills or experience you don’t have in business, technology, or money. Giving a co-founder a salary won’t get you the “fire in the belly” you want. Building a new business is quite different from an executive role in a mature company, so people from these backgrounds are often a liability.

Cofounder 435

Cofounder Technical Cofounder Equity Intellectual Property 435

Startup Professionals Musings

MARCH 6, 2021

Money flowing in has to exceed all costs, including inventory, credit, and your salary, before there is a real profit. A budget is the financial plan and road map to get you from your business plan to profitability. Always use a break-even analysis to measure what volume and price are required to offset total costs.

Technical Review 379

Technical Review Finance Startup Salary 379

Up and Running

MAY 28, 2015

We recently had Tim Berry, Palo Alto Software founder and business planning expert, present our Bplans audience with his latest advice on lean business planning. It’s all about making your business life easier, doing what works best, getting the best results by tracking what works and always improving.

Lean 60

Lean Business Plan Video Software Review 60

Up and Running

JUNE 16, 2020

A business plan is a critical part of opening a food truck. A good plan is like having a recipe for your business and gives you the best chance of success. It will guide you through the process of getting up and running and make sure that you plan for all of the expenses and risks that will be involved.

Business Plan 161

Business Plan Forecast Social Media Cost 161

Startup Professionals Musings

APRIL 12, 2019

As you scale up the business, you realize how many people you really need, including full-timers, managers, and hourly workers. Salary costs go up rapidly, as people require training, bonuses, expense reimbursals, and an office with a requisite support team and supplies. Obviously, the more detailed your business plan, the better.

Cost 264

Cost Founder Software Review Startup 264

Startup Professionals Musings

JUNE 23, 2023

Here are some tips and rules of thumb to improve your odds and help you understand when a bank loan or line of credit is possible, and how to get it: Write a good business plan first. Approaching a banker without a business plan, and asking for money, is a sure way to be rejected and leave a bad first impression.

Silicon Valley 292

Silicon Valley CPA Small Business Administration Startup 292

Up and Running

DECEMBER 2, 2011

million businesses nationwide. Whether you are a new small business about to unveil itself, or a business that has been around for some time, you will often be asked about your business plan. but see how you can go back to your original plan before it is too late; Has guess work taken over?

Business Plan 76

Business Plan Forecast Software Review Finance 76

Startup Professionals Musings

SEPTEMBER 8, 2019

This could work to get you legal or accounting services, but won’t get you cash to pay employee salaries. You still start the process with a business plan, but then you look for a philanthropist rather than an investor.

Equity 235

Equity Angel Investor Technical Review Exit Strategy 235

ReadWriteStart

NOVEMBER 17, 2020

Startup tech entrepreneurs are often eager to grow their businesses as quickly as possible. This strategy is effective if you have a solid business plan and a solid team, but there’s also significant room for error. One of the most important elements of your business’s growth period is your approach to hiring.

Hiring 126

Hiring Startup Salary Employee 126

Startup Professionals Musings

SEPTEMBER 27, 2020

Here are some tips and rules of thumb to improve your odds and help you understand when a bank loan or line of credit is possible, and how to get it: Write a good business plan first. Approaching a banker without a business plan, and asking for money, is a sure way to be rejected and leave a bad first impression.

Silicon Valley 431

Silicon Valley CPA Small Business Administration SBA 431

Startup Professionals Musings

SEPTEMBER 10, 2018

You need to find the skills or experience you don’t have in business, technology, or money. Giving a co-founder a salary won’t get you the “fire in the belly” you want. Building a new business is quite different from an executive role in a mature company, so people from these backgrounds are often a liability.

Equity 238

Equity Cofounder Technical Cofounder Intellectual Property 238

The Startup Magazine

AUGUST 20, 2020

Aim to have your own salary and that of anyone who works with you covered for at least a year. This is a suitable time to start drawing up a business plan , especially if you need to approach a bank or lending institution to obtain enough capital. One of your first and potentially biggest roadblocks will be financing.

Technical Review 122

Technical Review Social Media Reputation Salary 122

Startup Professionals Musings

APRIL 7, 2023

Those who respond with one of the wrong answers, such as “I want to pay myself a salary,” usually go home empty-handed. Funding for founder salaries at this stage is a red flag. You may pay salaries to your team, but your salary should come from earnings, when they occur.

Elevator Pitch 228

Elevator Pitch Salary Angel Investor Viral 228

Up and Running

AUGUST 19, 2014

You might have held off paying yourself while launching your startup, but is it time to give yourself a salary? You may be the last on your list of creditors when you’re just starting a business, but at some stage, you’ve got to start earning yourself. You’ve been better than “break even” for one year.

Salary 119

Salary Sweat Equity Silicon Valley Sales Cycle 119

ReadWriteStart

JUNE 8, 2021

You may have a descriptive, thorough business plan to serve as the blueprint for the present and future of your organization – but there’s no guarantee it’s going to pan out the way you think. Salary and benefits. Uncertainty. There’s also a lot of uncertainty within a startup. Money talks.

Employee 127

Employee Product Startup Software Review 127

A Smart Bear: Startups and Marketing for Geeks

DECEMBER 14, 2009

"You need a business plan" is the mantra of MBA types. As they say , businesses don't plan to fail, they fail to plan! Let's do some quotes: "Without a business plan, how will you know whether you can make a profit?" ( source ). "A Many businesses fail due to poor planning.

Business Plan 312

Business Plan Salary Finance Web 312

Berkonomics

OCTOBER 15, 2020

But when forecasting the ultimate viability of a business, many times an entrepreneurial founder uses a low, unsustainable salary rate for him or herself in order to show early breakeven. If you had to replace yourself with a professional hired to duplicate your skills, what would you have to pay in salary and incentive today?

Sweat Equity 62

Sweat Equity Equity Business Plan Balance Sheet 62

YoungUpstarts

JUNE 16, 2020

Business valuation is defined as a way to determine the overall economic value of a company , and is a necessary component of a sound business plan and strategy. To formulate your profitability, you must take into consideration all outgoing payments like payroll, and your gross income, yes even your own salary.

Valuation 162

Valuation CPA Software Review Revenue 162

Startup Professionals Musings

JULY 12, 2020

Those who respond with one of the wrong answers, such as “I want to pay myself a salary,” usually go home empty-handed. Funding for founder salaries at this stage is a red flag. You may pay salaries to your team, but your salary should come from earnings, when they occur.

Elevator Pitch 336

Elevator Pitch Salary Angel Investor Viral 336

YoungUpstarts

AUGUST 19, 2016

Crab says she was swayed by the company’s culture of continuous learning — not the perks or salary — proving that employee development hones the sharpest competitive edge companies can buy. Your business plan needs to set the course for how you invest in your team. Talent vs. Training. How to Make Human Capital Work for You.

Startup 100

Startup Burn Rate Cofounder Salary 100

Up and Running

OCTOBER 28, 2022

Business ownership comes with many expenses — both startup and ongoing — making it crucial for you to arrive at an accurate cost estimation. This may include things like rent, inventory, marketing, utilities, employee salaries, and so on. Find the right funding mix for your business.

Cost 138

Cost Startup Early Stage Vesting 138

Up and Running

JULY 22, 2014

Financial experts will have different opinions about what should be included in a financial plan, depending on the type of business you have and what you’re trying to accomplish with your business plan. No business plan is complete without a cash flow plan.

Balance Sheet 148

Balance Sheet Forecast Equity .Net 148

Startup Professionals Musings

AUGUST 4, 2014

You need to find the skills or experience you don’t have in business, technology or money. Giving a co-founder a salary won’t get you the “fire in the belly” you want. Building a new business is quite different from an executive role in a mature company, so people from these backgrounds are often a liability.

Cofounder 261

Cofounder Stock Founder Technical Cofounder 261

Steve Blank

OCTOBER 10, 2011

You find early stage employees expecting to work normal hours, to get paid a regular salary, and not asking or expecting equity. Filed under: Business Model versus Business Plan , Customer Development , Teaching , Venture Capital. There isn’t much of a killer instinct among the masses.

Finland 324

Finland Naming Russia Government 324

Startup Professionals Musings

FEBRUARY 15, 2023

Most successful entrepreneurs take only a very minimum salary during the formative business years and reinvest all profits back into the business for organic growth. Self-sustainability, independence, and real fun requires paying customers, profitability and an early cash-flow-positive business plan.

Equity 349

Equity Hockey Stick Bootstrapping Sweat Equity 349

Business Plan Blog

AUGUST 20, 2013

In order to be a successful tech startup, the team must consist of a Chief Technical Officer (CTO) level member to help with the technology plan. CTO Employee (Salary). Whether you have a question about your technology plan or you’d like to discuss our business plan writing services , feel free to contact us for a free consultation

CTO Hire 55

CTO Hire Fractional CTO Architecture Cofounder 55

Startup Professionals Musings

SEPTEMBER 20, 2017

This could work to get you legal or accounting services, but won’t get you cash to pay employee salaries. You still start the process with a business plan, but then you look for a philanthropist rather than an investor.

Angel Investor 132

Angel Investor Equity Technical Review Exit Strategy 132

Startup Professionals Musings

NOVEMBER 28, 2013

Money flowing in has to exceed all costs, including inventory, credit, and your salary, before there is a real profit. A budget is the financial plan and road map to get you from your business plan to profitability. Always use a break-even analysis to measure what volume and price are required to offset total costs.

Technical Review 251

Technical Review Entrepreneur Salary Finance 251

Gust

AUGUST 7, 2012

I really like Martin Zwilling’s post here yesterday, 10 things that make a business plan fundable. That made me think about this list, the opposite, things that make a plan not fundable. These are my 10 things that make business plans not fundable, in my assumed order of importance. The next [whatever].

Business Plan 172

Business Plan Sweat Equity Salary Founder 172

Up and Running

JANUARY 24, 2023

Payroll often makes up a large portion of a business’s expenses, so it’s important to spend some time working on this portion of your forecast. But, if you’re just starting out or are working on a business plan for a new idea, you probably don’t have anyone on the payroll yet and maybe don’t even know what your staffing plans are.

Forecast 84

Forecast Cost Salary Employee 84

Up and Running

JANUARY 8, 2013

2013 is the year to kick business planning into high gear and start your own company. Invest In Business Planning . Now it’s time to write your ideas down and turn them into a business action plan. Begin by reviewing good samples developed by others, and then create your own plan. economy.

Incubator 92

Incubator Software Review Technical Review Business Plan 92

Startup Professionals Musings

OCTOBER 13, 2013

This could work to get you legal or accounting services, but won’t get you cash to pay employee salaries. You still start the process with a business plan, but then you look for a philanthropist rather than an investor.

Equity 207

Equity Angel Investor Technical Review Exit Strategy 207