Tag Archives: team

Team

drjohn11a
By Dr. John Psarouthakis, Executive Editor of www.BusinessThinker.com,  Founder and former CEO, JP Industries, Inc., a Fortune 500 industrial corporation

This is the 6th of a Series of 15 short articles on “HOW TO BUY THE RIGHT COMPANY” They will be posted at one a week

Building a good team is important right at the outset of your search. You will need an attorney almost immediately, to review any confidentiality agreements or letters of interest that must be signed. However, you should also begin to think about the other team members you will need early on in the search process. A good accountant is essential to the adequate review of the seller’s books, and possibly in addition, an independent auditor.

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This Is the Real Cost of Building a Startup

From Inc. magazine

What’s the one thing a startup success story often leaves out? Exactly how much it costs to get going.

Ilya PozinBy Ilya Pozin who is a serial entrepreneur. He is the founder of Pluto TV, a free television service, Coplex, a startup development studio, and Open Me (acquired by Rowl). Named one of Inc.’s 30 Under 30 entrepreneurs, Pozin also has columns appearing on Forbes and LinkedIn. You can keep up with him on Twitter.   @ilyaNeverSleeps

Aspiring entrepreneurs love to follow stories on the latest million-dollar startup idea that’s skyrocketed to success. The tale of how the company came out of nowhere and now has investors lined up around the block gives them hope that one day they can reach that level.

However, there’s one thing those stories often leave out: how much startups cost to get going. There’s no mention of how the entrepreneur budgeted his money or the price he had to pay to make his dream a reality. And because of that, many inexperienced founders are unprepared for the financial aspects of running a company. I think that’s a disservice to all innovators.

So let’s talk about it. What does it really cost to launch a startup?

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Building the acquisition team

drjohn11aDr. John Psarouthakis, Executive Editor, www.BusinessThinker.com. Founder and former CEO, JP Industries, Inc, a Fortune 500 industrial corporation. Adjunct professor, Strategy and Acquisitions, Ross School of Management, University of Michigan

This is the 5th of short articles of my thoughts about Acquisition of a business.

Building a good team is important right at the outset of your search. You will need an attorney almost immediately, to review any confidentiality agreements or letters of interest that must be signed. However, you should also begin to think about the other team members you will need early on in the search process. A good accountant is essential to the adequate review of the seller’s books, and possibly in addition, an independent auditor. Other consultants you need may depend upon your own skill levels and the nature of the business. If you will need outside funding, a financial consultant may be needed. Depending upon your own background in the functional business areas of sales and marketing, operations, engineering and manufacturing, you may or may not require outside help. An environmental consultant is increasingly needed whenever real property is involved in the transaction, to assure that no hidden problems exist.

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