Most of you know I went to a small engineering school for my undergraduate degree. The goal of Brooklyn Poly was to graduate the best practical engineers anyone could find- anywhere. And, by and large, they did that job superbly. (Of course, some of those who didn’t finish the programs may not feel this to be the case, but, then again, they didn’t finish…)
Continue reading Manager Material?
Continue reading Finance is NOT a dirty word
What does one need? A bookkeeper or an accountant? I’m often asked that query. And, the answer, biased as I am, is “it depends”.
Continue reading What do I need?
We began working with smaller companies almost 40 years ago. But, back then, our efforts were exclusively aimed at developing new products these companies could manufacture, market, and sell. (We also worked with much larger firms, developing new products, processes and manufacturing schema.) But, many of our smaller clients ran into problems. Not with the technical matters, but with their management and financial affairs. So, we decided to begin working with these firms to help shore up their capabilities in these areas so their great products wouldn’t wither and die because the other parts of the company were sick.
Obviously, if you are just starting out, you need to determine the legal form under which you want to operate. Should you remain a sole proprietor or partnership? Or become incorporated/form an LLC? Each has their own tax situation- some pay corporate taxes (and then you must pay taxes on the money you take out of the company), others pass along profits to you directly, and still others let you allocate profits and losses among partners. Choosing the right entity is a critical consideration.
So, I presume you’ve read my masthead. It’s not just pretty words… I mean it. So does everyone else associated with my firms- now, in the past, and in the future. We will make this world a better place, one client at a time. (We have some 40 years of track records proving that, by the way.)
Continue reading Leaders. Not managers.
If you are like me, you have ideas that you want to share with the world each and every day. (OK, sometimes each and every hour…But, I digress.) The concept of starting a new enterprise is terribly exciting- and daunting. One of the primary ways you (and I) can keep it from being overwhelming is to prepare your business plan. Wait—don’t rush off. Before you can do even that, you must determine what it is you plan to do- and if you really are prepared to take the enterprise to a certain level.
Continue reading Introducing the next gazillionaire…
If you are going to be working with a client for the first time, there are all sorts of issues that need to be addressed. Since we typically serve as CXO (Chief Executive Officers, Chief Operating Officers, Chief Financial Officers, Chief Research Officers), we understand these concerns. Which includes the near abject terror a client may experience putting his baby in our hands. (Even if you are not serving as CXO, they are entrusting you to achieve some success on a part – or all- of the project that they themselves can’t effect [which is why they hired you.]) It is our job- and yours- to help allay such fears.
Continue reading It’s a new gig. How do you approach it?
We expect our leaders to possess this ethereal quality called “charisma”. But, once we use the term, we have a problem. Just like our concept of entrepreneurship, there is no universal definition. (I attribute both of these problems to our devotion to political correctness. We want to grant entrepreneurship status to those who clearly are not entrepreneurs, like that will really help grow enterprises. The same is true with charisma.)
Continue reading I’ll know it when I see it?
I often get asked why I no longer work for a large company, where the money is greater. I admit that I consider it on occasion (like when I wonder why I don’t visit my favorite cities every month like I used to), but, generally, I don’t have that strong desire. It helps that I am the Chief Executive of my firm, and serve as advisor to other CEO’s, and as CFO or CRO for still other entities.
Continue reading Big and small, small and big
I wrote recently about a new type of company, and have discussed the considerations for startups, as well as different sorts of company structures. (You can search the index for LLC, S, etc. to find more resources.) As part of the discussion of “B” entities, I alluded to the function of a Board of Directors.