Remove class-readers
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A personal story about quality control

Berkonomics

But the problem was solved, and response times returned to “immediate” for at least this class of customer call. Email readers, continue here…] It took two long years for the company to fully recover its lost reputation after the actual problem was fixed to the satisfaction of all. The smaller the company, the more is at stake.

Training 156
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Wow! Are your relationships important!

Berkonomics

Email readers, continue here…] I am chairman of the Technology Division of the ABL Organization, a roundtable organization with multiple CEO roundtables of about twelve members each, meeting monthly. That last 10% is most important and often overlooked. It represents strategic thinking.

Class 194
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What do you give up when you take outside investors?

Berkonomics

Many companies find themselves at the five-year point completely unprepared for a sale and without the cash resources to carry out such a repurchase of investor stock, making the clause moot. The newest investor has the power.

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Be careful about equity and options!

Berkonomics

How to protect against founder role changes over time: To protect against this, there must be some document in place from the beginning that clearly states the expectation of each founder as to contribution of time and resources to the enterprise. How about multiple classes of stock?

Equity 156
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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. Venture, private equity and more: Here we lump a large number of investor classes into one. These include Y-Combinator and TechStars, among others.

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Why should you explain WHY?

Berkonomics

In my early journalism classes, I was taught the five “W’s” of good news stories, and that most should be in the first paragraph at that. Employees, contractors, even investors want to know why they are asked to make use of their valuable resource to support your effort. Remember the five “W’s?”. So now: Why explain why?

Journal 156
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When to pivot from your original plan?

Berkonomics

Investors most often celebrate teams that quickly find flaws in the original plan and reallocate resources in another direction before more wasted resources. My favorite example of a world class pivot comes from the CEO and board of one of my most successful investments. My story of a great pivot.

Resource 156