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Need money? Read this!

Berkonomics

Friends, family and fools: [Email readers, continue here…] This term, although pejorative, describes the typical mix of early investors in a small, young growing business. And even with the significant cost of credit card debt, many entrepreneurs aggressively use existing cards to finance a startup.

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Two most powerful words: “Help me.”

Berkonomics

There is a bit of the teacher in all of us, and a request for help is a natural trigger to bring this out. And there should be an equal – if not stronger – bit of a student in each of us as well, allowing us to drop our egos a notch and actually ask for help when we need it. Email readers.continue here.]

Help 217
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Have you heard the rule of the thirds?

Berkonomics

Think of startups and early stage businesses whose entrepreneurs you know. We should think of the creation and growth of a high valued company as the sum of three parts, with three distinct classes of participants helping to make real value out of a raw start-up. One: The entrepreneur. Two: Co-management.

Startup 240
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Do you really need a board of directors?

Berkonomics

Email readers, continue here…] Each board member is legally tasked with two duties: the duty of care, and the duty of loyalty: care for the living entity that is the corporation itself, and loyalty not to the board member’s constituency, but to the corporation itself. What are the legal responsibilities of board members?

Resource 156
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Once again: Is it the jockey or the horse?

Berkonomics

Do they bet on the entrepreneur (jockey) or the business idea and plan (the horse)? My answer always varies as I examine each deal, sometimes deferring and passing on an investment because of an uneasy feeling about the entrepreneur, even if the business plan seems able to capture the market. Concentrate on a world class team.

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Once again: Is it the jockey or the horse?

Berkonomics

Do they bet on the entrepreneur (jockey) or the business idea and plan (the horse)? My answer always varies as I examine each deal, sometimes deferring and passing on an investment because of an uneasy feeling about the entrepreneur, even if the business plan seems able to capture the market. Concentrate on a world class team.

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Can you name the two most powerful words for business?

Berkonomics

There is a bit of the teacher in all of us, and a request for help is a natural trigger to bring this out. And there should be an equal – if not stronger – bit of a student in each of us as well, allowing us to drop our egos a notch and ask for help when we need it. Here’s a puzzle where the answer come first.

Training 149