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Here’s how NOT to define your competition

Berkonomics

An entrepreneur pitches using a deck with no slide for competition. We have no competition.”. Professional investors laugh when they hear an entrepreneur come out with that one. It is a failed litmus test for the entrepreneur, even if the plan is for a totally new device or service that could take the world by storm.

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Protect your company secrets!

Berkonomics

But all will immediately question whether the new business will compete in any way with their enterprise and react to the future entrepreneur in either of two very distinct ways based upon those fears. Many states recognize the right of a former employee to work, even if in direct competition with a past employer.

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8 Work Trends Driven By New Ventures And Competition

Startup Professionals Musings

Both are required to stay competitive. I have added my own insights, based on my experience advising and working with entrepreneurs and startups: Pay for results, rather than pay for work. Overall, as an entrepreneur, you just need to be aware that the notions of work are changing just as fast as the technology for products.

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5 Startup Challenges That Derail Many Entrepreneurs

Startup Professionals Musings

As a mentor to entrepreneurs, I tend to see many of the same obstacles appearing in every new startup, and since I don’t want to appear to be a downer , I’m not sure how to properly warn people ahead of time to be on the alert for these challenges. Too many entrepreneurs think that expert external advisors are suspect, or will slow them down.

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Be careful how you define your competition.

Berkonomics

Professional investors laugh when they hear an entrepreneur state, “We have no competition.” It is a failed litmus test for the entrepreneur, even if the plan is for a totally new device or service that could take the world by storm. Email readers, continue here.] Consider the state of the economy.

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Is it YOU or your great plan?

Berkonomics

Email readers, continue here…] That reality is a tough one for the professional investor, almost as tough as for those entrepreneurs who lose their businesses. None of this is to say that an inexperienced entrepreneur cannot lead a great new business. And it’s a tough test at that. Of course, you could be the exception.

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Should Millennial Entrepreneurs Skip College?

InfoChachkie

Should millennial entrepreneurs go to college? If you believe the mythology surrounding the handful of entrepreneurs who did not obtain a degree, you may think that the path to entrepreneurial success is enhanced by avoiding college. I asked them to devise reasons an entrepreneur should remain in college.