The rise of a startup founder expert : Andrew Hillman: Before you launch your business make sure you have some money: make savings, borrow from family and friends or approach potential investors. Make a financial back-up plan. Learn how to make a budget for your business. Do not expect that once you start your business to receive financing from a bank, because generally they are reluctant to finance start-ups. Consider using a financing program for new businesses such as the START Program. You, as an entrepreneur, are the best marketing agent for your business, so everything you do and communicate must inspire professionalism. This means that everything from clothing and attitude to business cards and behavior must be impeccable and give potential customers and collaborators confidence. See extra information on Andrew Hillman.
Andrew Hillman from Dallas, Texas on on leadership training : Companies that offer corporate training for their employees usually have a much easier time attracting new talent. If you want to get the best and the brightest people working for you, it’s important that you consider making this type of investment. This training can really improve the overall image of your business, which will be sure to get the attention of skilled people who can be a real asset. It can be a real challenge for some businesses to find the right employees, but this is one way to make that search a lot less frustrating and time-consuming.
So what does it mean to bring on an individual or family investor in lieu of going the traditional VC route? These individuals often wish to stay in the venture investment game, but desire more transparency to underlying investments than the traditional venture investing experience provides. They also want the ability to cherry-pick the best deals. In addition, they want to avoid paying the typical “2 and 20” — a deal structure that requires investors to pay a 2 percent annual fee (some as high as 3 percent) to the VC firm on top of the 20 percent return on investment. This is why we’re seeing more of the mega-wealthy groups in the region move away from only investing in private equity funds to increasingly working with their family offices to find the right types of direct investments that fit their long-term wealth-generation strategies.
“How can I benefit from an offshore company?” is a common question. Tax optimization lies on top of the list. But offshore companies can offer you more than that. Other typical benefits include better privacy, asset protection, ease of incorporation, and low-cost maintenance. Some countries impose ridiculously high tax rates on corporate income. For example, the rates are 37.5% in Puerto Rico, 30% in Germany, and 28.4% in France. That’s why thousands of entrepreneurs out there have decided to go offshore. If you find yourself in this situation, then following the offshore path is the right choice. Tax optimization does not necessarily mean to evade taxes. Breaking the law is not a wise thing to do. When seeking tax solutions, you should comply with both the laws in the incorporated jurisdiction and your home country. Read additional info on Andrew Hillman.
Interview candidates thoroughly. Judiciously interview several business coaches; this will increase your odds of finding the right match for you. This decision is as critical as selecting the right attorney and financial advisor. You want to be cautious and patient. Draft a list of interview questions. To find a fitting coach for your business, you’ll want detailed answers to specific questions. Questions you’ll likely want to ask include: What is your background in business? What is your experience coaching business owners? What credentials do you have in coaching or in other related fields? What is your personal coaching style? With what kind(s) of clients do you work best? What are the business issues in which you are most qualified?