Marry in haste, repent in leisure. The founders of The Bachelorette might disagree, but the vast majority of corporate founders would whole-heartedly nod their heads, and have five war stories to back it up. Division of equity is the leading cause of angst among founders. If you and some co-founders are about to dive into the startup pool, and are wanting to talk equity split, here are a few tips to dodge the equity bullet. 1. Wait From the outset, founders are tempted to talk equity, which really is just power and money wrapped into one shiny ball. Whether it’s because they like the other founders and want to get the “uncomfortable stuff” out of the way, or because they feel it will create clarity in developing the business, there’s a feeling this needs to be one of the first decisions. But truly, as research shows, it shouldn’t. New homeowners may come up with great ways to remodel a house, only to find that if they had waited to see how they actually use the space, they would have done a better remodel. Same with equity stock. Wait to see which founder puts in more time and effort, which sticks around, which has the ideas that work, etc. Time will tell, and if this is really a great new company, you have time. While you’re waiting, think about the division. 2. Fair Doesn’t Have to Mean Even As you take time to peel the proverbial onion, it will become clear that a fair split of the equity doesn’t necessarily mean an even split. Research also shows that teams that negotiate equity splits over a longer period are more likely to decide on an unequal split, as they uncover differences in past and future time/idea/financial contributions, involvement in outside opportunities, and general preferences. Also, investors prefer unequal equity splits, as it signals that founders aren’t opposed to having uncomfortable conversations and decisions. 3. Save Some for Later Remember that others will be joining the company that will want to have founder’s shares, which, by the way, have different tax consequences than…
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The New York startup scene has been debated for a long time now, as people are more and more interested in launching a business in this economic paradise. Luckily, there… Read more » The post Yellowstone Capital LLC Reviews New York Startup Scene appeared first on Noobpreneur.com.
Most small businesses get caught in an endless cycle when it comes to marketing and sales. They only have time to do marketing when their sales are down. But once revenue starts to pick up because of these efforts, they stop having time to do marketing. Their sales then start to shrink, and this cycle starts all over again. This keeps their business flat and prevents them from ever growing their company. Small-business owners need to know how to develop a sustainable marketing plan even if it is on a limited budget. Here is where to start: Content marketing. This is an easy way to stay in front of small business prospects to showcase expertise, so they think of the company when they are ready to buy. It involves sharing expert knowledge on social media, through websites, video or by sending emails. Where to start: On at least a weekly basis, send single subject emails solving a problem prospects may encounter. Get involved in conversations on social media where that advice is also offered. Unfortunately, many small businesses spend too much time on social media every week without a clear strategy. Hire a content writer for the company blog. Many small-business owners complain they have no time to blog or create content for their site. However, the more branded content a company blog has, the higher it will rank in the search engine rankings. Where to start: Find a journalism student or get an article written for as little as $1.25 a post by a freelancer through a crowdsourcing site like UpWork. Get more reviews. Consumers now trust online reviews from people they don’t know almost as much as a referral from friends and family. Where to start: Ask customers. This can be noted in the bottom of a receipt, attached to a follow up email or in person after a sale. This can be done automatically through solutions like FiveStars. Practice organic search engine optimization (SEO). Every post and page should have keywords, so search engines can easily index this information. If customers can’t find a company when they’re…
As the saying goes, time is money. Every moment spent performing necessary but time-consuming tasks that don’t generate revenue takes away from a business’s bottom line. For those small businesses that use QuickBooks® to help streamline their accounting processes, here are some quick tips that can help make QuickBooks even quicker. Editor’s note: Because there are different versions of QuickBooks available on the market, including QuickBooks Desktop, QuickBooks Online and versions of each of those for Mac and PC, it’s possible that not every tip listed here will work for you. However, we have tried our best to focus on QuickBooks tips that will work across a variety of versions. QuickBooks and Quicken are registered trademarks of Intuit, Inc. 1. Take advantage of built-in QuickBooks keyboard shortcuts QuickBooks has developed a set of keyboard shortcuts for QuickBooks Desktop and QuickBooks Online to help you save time during common tasks and workflows. Image credit: Intuit Inc. Once you’ve mastered the shortcut list, tasks will take a fraction of the time. Use a simple keyboard shortcut, instead of manually maneuvering around the software using a mouse or trackpad. For example: The use of Ctrl+Del can delete the selected line in a transaction Ctrl+F opens up a search box to let you find text within an open window Alt + down arrow opens a pop-up calendar icon to the right of the date field The list of keyboard shortcuts can vary between Desktop and Online versions, as well as between PC and Mac platforms, so make sure you download and use the one most appropriate for your application. 2. Create your own customized QuickBooks icon bar The common tasks and workflows that you use will be very different from another business, which is one of the reasons QuickBooks lets you customize the icon bar to suit your individual needs. Within minutes, you can add, remove or edit icons within the icon bar to make the functions you use most be the ones that are easiest to access. You can also select certain shortcuts and customize them for your daily use. The icon bar allows you to create a mini-dashboard, so…
Being involved in your industry sector is an integral part in running a business, and an industry event calendar marks important events that as a business owner you need to be aware of. Whether the event is Valentine’s Day, or something more industry specific like World Chocolate Day, an industry event calendar will help your The post Why an industry event calendar is important for your PR strategy appeared first on Small Business.
Choosing the right kind of banking service is a major opportunity to get your business basics right from the beginning. While it may be inconvenient to maintain a separate account for both your personal and business activities, it is good practice to do so to keep your accounts clean. Here, we’ll look at how to go The post Opening a business bank account in the UK: How-to and best accounts appeared first on Small Business.
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