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Technology Law Blog

How entrepreneurs can benefit from the experiences of others

Gleaning from the experiences of others and using the information gathered to prevent issues with regret is a goal for many business owners in New York and across the nation. While a person may experience regret under a variety of circumstances, for entrepreneurs, a similar feeling could come with additional consequences that could pose a threat to the future of a business. Those who wish to prevent similar issues from affecting their lives could benefit from seeking advice on how to become better prepared to safeguard their interests.

When it comes to starting and running a new business, experts suggest that prospective entrepreneurs could benefit from focusing on how best to approach the process. According to experts, entrepreneurs who wish to cultivate a successful business might find it helpful to work on building a brighter future for the company rather than simply working within it. While those who are entering the process may also be anxious to see results, understanding that similar endeavors may take time and practicing patience may also be imperative.

Entrepreneurs: Staying on task with advice on organization

Finding ways to remain productive is an essential part of building and running a successful enterprise. However, it might not always be such an easy task, especially with the level of freedom that comes with owning a business. Entrepreneurs in New York who worry that staying on task could prove an issue may find it helpful to seek advice on effective ways to organize their daily schedules.

According to experts, one of the most effective ways to remain productive is to create a schedule and list every necessary task. The more detailed the schedule, the more capable a business owner may be at remaining focused and staying on top of the tasks at hand. Experts also suggest including free time in a schedule is also advisable, as having some level of downtime can also be vital to promoting productivity.

The role intellectual property plays in the growth of a company

Upon deciding to start and run a business, individuals in New York and across the nation may wish to take every possible measure to safeguard the future of their endeavors. While prospective entrepreneurs may have a variety of topics to address along the way, experts suggest that finding ways to protect intellectual property should be at the forefront of the conversation. However, some entrepreneurs might not be fully aware of how important a role intellectual property can play in the growth of a business.

Upon entering the realm of owning a company, entrepreneurs may wish to create their own brand of products and services. As this brand can play a vital role in the success and growth of the company, protecting it could prove imperative. Those who develop their own technological advancements and operational procedures may also find it essential to take steps to protect proprietary company information and prevent others from using it without authorization.

Entrepreneurs: Dealing with the uncertainty of what lies ahead

It may come as no secret that there is a certain level of risk involved with starting and running a business. Without the ability to see into the future, prospective business owners in New York may feel somewhat unsure of how to plan for the uncertain. However, there may be certain strategies entrepreneurs can employ that could help reduce the risk involved and assist them in pursuing their dreams of running a successful company.

According to experts, one of the first steps to preparing a strategy for the unknown pertains to building a team that is capable of handling whatever is thrown their way. Building a team with the expertise to deal with any issues that may arise can be an essential component to pursuing success. Instead of merely sitting back and hoping the future will go as planned, experts also suggest that taking control and creating a brighter future for the company could prove imperative.

Entrepreneurs: Keeping a myth from disrupting one's dreams

When starting a company from scratch, prospective business owners in New York and elsewhere may need to address certain concerns and overcome a variety of challenges. However, sometimes the issues entrepreneurs feel might pose a threat to their plans may be nothing more than a misconception. Knowing the myths that surround the process of running a successful enterprise could help a person prepare to make informed choices without paying heed to unnecessary assumptions.

One of the most common myths associated with being an entrepreneur pertains to the level of risk involved. While business owners may take on a substantial amount of responsibility, running a business doesn't always have to be an exceedingly risky endeavor. Studies indicate that most entrepreneurs typically take a more careful approach to operations by knowing how to evaluate all the possible risks involved with each decision about the future of the company.

Creating Forward-Looking Founder Agreements

The founders of a venture and the investors in it have a unique collaborative – and sometimes conflicting – relationship.

Both want the venture to succeed.  The founders see themselves as the creative force moving the business forward.  They want it to succeed because of the substantial payoff that can result to them.

Entrepreneurs: Making certain decisions early in the process

While starting a business can be an exciting and rewarding endeavor, it can also be a stressful and complex process. Entrepreneurs in New York may encounter a variety of challenges as they attempt to push their companies to greater heights and many of these issues may exist right from the start. Although business owners may feel they already have a great deal on their plates, addressing certain concerns early on could prove essential to avoiding regret in the future.

According to experts, one of the first issues a prospective business owner should consider addressing pertains to his or her motivations. Achieving clarity on the desired direction or purpose of the company could act as a strong foundation for building a thriving enterprise. Since the future of a company may also be fueled by its success, forming a strategy to promote growth may also be vital to paving a path to prosperity.

Understanding the challenges entrepreneurs may encounter

Building a company into a successful and thriving enterprise can be a rewarding experience. However, entrepreneurs in New York may face a variety of challenges along the way to success and how they handle each in turn could impact their journey substantially. Knowing the issues that may accompany the decision to start and run a business might help one better prepare for what comes next, but it can also be an intimidating process.

One of the most common issues entrepreneurs might face may pertain to the level of difficulty involved with achieving balance. Running a company can be a demanding experience and finding a balance between home and work life could prove a challenging feat. Entrepreneurs may also be faced with high levels of responsibility and the potential threat of failure, and the manner in which they handle similar concerns could influence their ability to reach news levels of success.

JULY 14 PASSAGE TO PROFIT BROADCAST

Join me in the Executive Spotlight on the Passage to Profit radio show on July 14 at 8:05 PM on WOR 710 AM!

Tune in on the iHeart Radio App (available for iOS and Android), online on the WOR710 website or the "old fashioned way" on the radio.

Please join me as I approach subjects such as:

  • How to choose the right business lawyer
  • Top 10 Causes of Failure for Technology Startups - and how to AVOID them!
  • Importance of having the RIGHT written agreements (the ones you downloaded from the Internet to save $1,000 may cost you $10,000, $100,000 or more!)
  • Indemnity Agreements - what do they mean? what's typical? what are terms to avoid?
  • Limited liability entities - why are they important? How must you use them to enjoy their benefits?
  • Attracting investors - what techniques help technology entrepreneurs? What approaches hurt their chances?

Knowing the factors to address when forming a business

Prospective entrepreneurs need to address many issues when they decide to start a business.

Fortunately, they don't have to take on these issues alone. They can and should find advisors who have been "down the road before" and know where the snares and pitfalls lay. That helps entrepreneurs prepare themselves for the predictable - and some unpredictable - problems and opportunities they will face.

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