Startup Blog: Startup Basics Recap from Interview

Taffy Williams

Examples may relate to Biotech, Pharma and Medical Device businesses, but the ideas apply to most technology fields. As an example, note the enthusiasm exhibited by a local business owner as highlighted in the Fox News in Charlotte, NC June 5, 2011 in a story covered by Renee LaSalle.

6 Environmental factors that may affect your business

Taffy Williams

In a sense, the plant needs the right environment and care just like your business has specific needs to survive. Many factors can affect the survival and growth of your business; e.g., local competition, talent pool, travel convenience, traffic, proximity to suppliers, and regional support.

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3 Main startup traits attract money and talent

Taffy Williams

Everyone has their own set of biases and requirements when it comes to evaluating business opportunities. Future employees, investors, or potential business partners may describe my factors in different terms. After all, “I am not in this business for religious reasons.”

Investors may be attracted to a startup for one of these

Taffy Williams

Early stage companies need seasoned professionals to contribute to the build out of the business. The ability to attract the right types of investment is partly due to your ability to sell the business model. I do not care what you are selling, let's talk about what I need!

5 Tips on being more than a YES man or woman

Taffy Williams

The question employees must examine is whether they are giving their best performance at work when they are not alerting the boss there may be a better way or of impending mistakes. Keep in mind that the boss usually wants to do the best possible for the business.

Always be prepared for the sigma walk

Taffy Williams

About 15 years ago, a friend (Bob) was the president of a company (Sigma) doing a great business. Sigma was a well-run company with more than 500 employees. He had been a valued employee for more than 20 years.

Should We Tell Pat to Depart

Taffy Williams

Unexpected departures of key employees can be hard to manage because of loss of experience and morale changes in the company. Great employees are what you want and never want to lose. What if a great worker is engaged in activates that are counter to the culture you want to build in the company, or if the employee’s work habits have changed and they no longer fit the requirements for the job? In short, you have people that work in the business with you.

The 10 Best U.S. Cities to Start a Business in for 2016

Up and Running

While we may think of a major hub like Silicon Valley as a prime example of an entrepreneurial city, the reality is that these epicenters of growth may not always offer the most supportive climate for new businesses. Sioux Falls Chamber of Commerce Small Business Assistance.

Productivity and creativity can come via different styles of work and relaxation

Taffy Williams

Quiet times can enhance creativity Have you ever spent the day at work wondering how a fellow employee gets away with what looks like goofing off? It can be aggravating and cause discontent among employees when one of them does not carry their equal share of the workload.

Teflon Man as a nickname is not a complement

Taffy Williams

People use a wide range of styles of managing their businesses. Pressing employees to work harder and faster is OK to a point! When the pressure causes an employee to exceed his or her limits, mistakes become more frequent resulting in missed milestones or wasted money.

Your reputation precedes you

Taffy Williams

Entrepreneurs work hard to create businesses and make money in the process. Their personal traits are part of the business evaluated by others. Being stingy or ugly to employees is something that eventually gets around. This can create a different set of issues for the business.

Beware of the boss

Taffy Williams

Maybe you have seen the boss belittle an employee in a meeting. As the new boss, what do you do to help your employees achieve their optimal performance? Other articles are published in the Charlotte, NC- small business section of Examiner.com.

Working hard is not enough

Taffy Williams

Employees or founders are easily distracted and engage in activities that cause them to spend time and energy achieving their objectives. Improper objective identification by the team or the leaders complicates performance of the business by producing less than desired achievements.

Remember the square and round pegs must match the correct holes

Taffy Williams

Entrepreneurs spend time studying to prepare the business plan and slide show. The assembly of the business structure and form is like putting a puzzle together. Once the business is ready, the entrepreneur starts to recruit top employees to create a team.

3 Words that can prevent feelings of guilt

Taffy Williams

Perhaps it was completing a task at work or having a difficult discussion with an employee. Business is time sensitive and completion of key activities requires completion of tasks in a timely manner. Businesses die just like people. What will your tomorrow look like?

Entrepreneurs experience piling on

Taffy Williams

Developing great business deals when multiple companies want to partner allows for optimization of the deal structure to provide the maximum return. Stabilizing and reversing the trends are possible when the underlying business is sound.

Try to avoid making key decisions under adverse emotional conditions

Taffy Williams

Those feelings carried to negotiations or business discussions may alter your views of what you will or will not accept. When reviewing compensation of employees, you may feel overly generous and approve higher bonuses or pay increases.

The check is in the mail

Taffy Williams

The dreaded quote comes up with nearly every aspect of your business activity; a customer fails to pay, a vendor’s reimbursement is not received, a loan is not re-paid, investor’s funds have not arrived. Your company may end up there simply as a course of doing business.

Inform the NEW HIRE

Taffy Williams

The employee gets familiar with the personnel office and fills out all the appropriate forms. Perhaps you have a general discussion about expectations and the current needs the employee should address immediately. One discussion often forgotten is the history of work the former employee applied to the tasks currently needing attention. The former employee may have handled the discussions leading into the contracts and the timelines, budgets, expectations, and milestones.

Founders behaving badly negatively affect the business

Taffy Williams

Then there are those founders that obtained personal loans for their business and later had problems when the company fell on hard times. Keep a solid non-contaminated business professional environment for the sake of the team. Clouding ownership : Employees can leave at any time.

Are You Looking for Things the Correct Way?

Taffy Williams

Entrepreneurswant money, intellectual property, staff, space, business intelligence and muchmore. This could be your legal counsel, accounting firm, prospective investors,or prospective employees. You arepart salesperson, part entrepreneur, part employee, but you must be full timeprepared. Other articles can be found in the Charlotte, NC- small business section of Examiner.com.

4 Comparisons to consider before making expenditures

Taffy Williams

Many times those that are not good with finances run businesses in a similar manner. Managing assets of a startup or any business is critical to the success of the business. Many businesses borrow funds as a primary means of growing.

Take extra care when reviewing content

Taffy Williams

The combination creates a market more favorable for the consumer, investor, and company seeking employees. The same holds for seeking investment, marketing products, or conducting any form of business. Other articles are in the Charlotte, NC- small business section of Examiner.com.

Entrepreneurship Front & Center at Republican National Convention

Inc Startups

Small business owners note a super-charged environment for them during this election year. Small business owners are already taking center stage this election season, as was evident at the Republican National Convention on Tuesday night in Tampa.

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Have A Great Idea? Hold that Though!

Taffy Williams

It does not matter whether thetransmitted information comes from the entrepreneur, CEO, employee, or theinstitutional scientist. Finally,if the ideas are not to be patented, the relay of information eliminates themoat around your business that would be created by internal know-how. Other articles can be found in the Charlotte,NC- small business section of Examiner.com. Interactingwith many entrepreneurs and inventors is rather interesting.

Are You Involved or Committed in a Startup?

Taffy Williams

The entrepreneur is the one that devotes significant time to attract advisors, mentors, employees, board members, and investors. Everyone will be involved in the business with some having higher levels of involvement and others not so much. One hopes the employees and founders are committed but sometimes this is not the case. Most employees will have a need to maintain their salary. Founders are often distracted by family issues, other business interests, hobbies etc.

Starting Off the Year: Healthcare with a Twist

Taffy Williams

The reasons are rather simple: · Many healthcare companies from allover the world present their companies there; big, small, and not-for-profit. Use the meeting toNETWORK, IDENTIFY EMPLOYEES, FIND MONEY AND MEET POTENTIAL PARTNERS. Other articles can be found in the Charlotte, NC- small business section of Examiner.com. It shouldnot be a surprise to you to learn that I work heavily in the healthcarespace. I assist several types ofbusinesses.

Oh No, We Just Lost John!

Taffy Williams

Loosing key employees is one of these events that can really set your programs back or worse. You can try to guard against this, but it is inevitable that when an employee is ready to leave, they GO. Here are just a few: Overlap Functions: To the extent possible, having other members of the team involved in every aspect of the business may allow someone to step in the role of the missing member. It never fails.

Managing Snow White and the Seven Dwarfs (part 2)

Taffy Williams

But what do you do when someone callsin the future to ask for a recommendation for one of your prior less thanstellar employees; try being a LIAR. The ideas for the titlecame from real life employees in the past, believe it or not. I actually used a few of these in the past asto not provide bad information about prior employees and prevent someone fromgetting a new position elsewhere. Other articles can befound in the Charlotte, NC- small business section of Examiner.com.

Interpretation Please!

Taffy Williams

Managers with employees often have relationships that seem strange. Take for example a strained relationship where the employee thinks you are like Scrooge. Take an example of a work place where office workers come in and quit to take other jobs in less than a year creating a high turnover of employees. You need your business partners just as you need your team. Waiting for the sky to fall is not the way to run the business and morale will suffer.

I Am a What?

Taffy Williams

Employees always wanted higher pay or moreoptions. Your employees are discussing you and yourmanagement style, or maybe complaining about you and your style. Try striking balance in your business dealings. You want your partners and employees toperform with enthusiasm and deliver quality. Other articles can be found in the Charlotte,NC- small business section of Examiner.com.

Ask These 3 Questions?

Taffy Williams

Ask yourselfthree questions when you are deciding to join, stay or leave any business orjob. The questions are valid to ask, but yourlevel of financial resources will have some bearing on your ability to stick withthe business. Regardless of whether youare an employee or the leader, these questions relate to you, hence they goboth ways. Do you like the business? Trust is a most critical characteristic of anyrelationship be it personal or business.

5 Ways to avoid involvement with a technology in search of a use

Taffy Williams

Taking something from an idea to a final product with financial value is what business is about. Reviewing discoveries and converting them to tangible products is where the science and business cross paths. Other articles are in the Charlotte, NC- small business section of Examiner.com.

Unintended Consequences

Taffy Williams

Planning for your business is a time consumingactivity. Strategic planning isessential in order to accomplish the goals in the business plan. The scope of duties expected of the CEO or manager includes improvingor changing the business or organization as needed. The case of the two employees mentioned in the last articleis a case of a bad outcome. One was a contractor while the other was anin-house employee.

Some things are beyond the entrepreneur control

Taffy Williams

These events affect the desire and ability to maintain normal function of a business. During the great times, the business activities are not dramatically affected. Perhaps, you are the leader of the business and the team is lost while you are away.

Avoiding sticker shock from service providers

Taffy Williams

Few companies will operate with employees as the sole source of workers for your company. Other articles are in the Charlotte, NC- small business section of Examiner.com. Your mentors, advisors, and board members may work on a fixed fee, or may require billing per time worked. Legal, accounting, and other contracts are least likely to work on a fixed fee basis and will bill by time spent.

Entrepreneurs’ Giveth & Entrepreneurs’ Taketh Away

Taffy Williams

Your desire is to create a culture that fosters improved business. In many cases, the employees are also friends. The point is that with all the work that goes to building a business, a single wrong step, wrong message, comment given at the wrong time or way, or a wrong action can set your company back. Employees were to be repositioned and layoffs were likely. The anger and disruption in business went on for 3 months. Keep your personal business at home. ·

The Secret to More Effective Meetings? Manage Emotions

Inc Startups

Linda Shanock, a professor of organization science at the University of North Carolina, Charlotte, and her team recently looked into the cost of all the teeth gritting, insincere laughter, and careful phrasing that goes into keeping the peace during many meetings.

Clash of the Titans

Taffy Williams

No, this not a story of ancient times, but a desire to create an awareness of how EGO can affect a wide array of events in your business. Several levels of effects (good & bad) can emerge if you are not careful to manage how your EGO shows up in the business dealings. The “Clash of the Titans” can occur in the company between similar level employees, lower level and management, and between key managers in partnerships or business discussions.

Supervising Snow White and the 7 Dwarfs

Taffy Williams

Having a business, means you will encountermany different personalities in your staff or even in those above you. Once in alarge organization, a friend of mine was assigned an employee by asupervisor. This employee was known wellby everyone. When an employee is above theage of 40, it requires certain special legal sign off to prevent age discriminationclaims. Once I had an employee that managed to have more than 240 hrs.

The One Word Entrepreneurs Do Not Say

Taffy Williams

You cannotstart a new company, turn-around one in trouble, or manage a business withouthaving someone tell you the magic word. It scan be an advisor, investor, employee, a family member, or mostanyone. Other articles can befound in the Charlotte, NC- small business section of Examiner.com. Sometimeswords have multiple meanings depending on the spelling. They may sound the same, but are spelleddifferently. The word spoken of in thisarticle is not any of these.

Diversity of ideas can lead to novel solutions of problems or conflict

Taffy Williams

Resolutions are necessary because failure to fix problems can lead to the demise of the business or significant slow-downs in progress of building the business. The conflicts can cause morale issues, lack of focus on core business, and increased expense.

“Popeye Syndrome”

Taffy Williams

It is importantto recognize that this point in your business will come. You realize that you are workingfar too hard for the quantity of business coming in the door. An employee created significant problems,which will take you days or weeks to correct. Other articles can be found in the Charlotte,NC- small business section of Examiner.com.