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An experienced coach has seen your movie before.

Berkonomics

Business coaches come in all sizes and shapes. Photo courtesy IBM Business Coaching. But by far the best coaches are those that have lived through the process you’re going through and built successful enterprises in your same industry. Email readers, continue here…] How do you pay a coach? Original 1994 book.

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An experienced coach has seen your movie before.

Berkonomics

Business coaches come in all sizes and shapes. How do you pay a coach? If the coach is also a significantly large investor such as a VC fund, the board member-coach will offer a limited amount of time outside of board work at no extra cost, all for the good of the investment. Email readers continue here.]

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Do you even need a business coach?

Berkonomics

Everyone, even seasoned CEO’s can use a good coach who knows how to bring out the best in a person, is knowledgeable about the business process, and who has an extended list of relationships to call upon to fill needs that become obvious in the coaching process. Business coaches come in all sizes and shapes.

Coach 156
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Raise cash from trusted, close resources first.

Berkonomics

So how does the statement above fit into this sandwich of alternatives? Trusted, close resources include sophisticated relatives, friends and business associates who know how to structure a deal as a win-win for you and for them, while allowing you to retain control over your vision and execution.

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The last money has the first say.

Berkonomics

Something like a marriage (and often lasting just as long statistically), your investment partner can be a great cheerleader, coach and resource. Angel investors tend to be much more understanding, and usually resort to coaching rather than replacing the CEO during bad times. Are angels and friends a better bet?

Coach 156
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Accelerators: a recent and positive trend

Berkonomics

Accelerators are organizations that selectively accept entrepreneurs into a program of intense coaching in a physical environment sponsored by the accelerator that also provides seed funds for the startup to begin its business.

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This is How Startups “Level Up” After Raising Money

Both Sides of the Table

Moving from a company that had less resources (and presumably by the time their raising depleted resources) to a company with newfound resources can be telling. I have seen many companies raise their first $3 million and still act like a company that has no resources at all. You’re the coach, mentor, cheerleader.

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