Unlike furloughs and layoffs, where you intend to call back the employees when business circumstances change, a reduction in force or RIF is a permanent removal of posts. Some layoffs and furloughs turn into a RIF if the business doesn’t pick up for an organization again. Why Did Reduction In Force Events Happen? Whilst reduction …
Tag: startups
Startup Founder Inspirational Short Stories
Nothing beats a good origin story! If you’re a Startup Founder or contemplating taking the leap of faith and becoming one, I’ve gathered together some inspirational short stories that will make you smile, laugh and think. Inspirational Short Stories From Founders You Know Daphne Koller – Co-Founder at Coursera The Spark In 2012, Koller and …
6 Habits Successful People Follow
What do Sir Richard Branson, Warren Buffet, Jeff Bezos, Gina Rinehart, and Thai Lee have in common? Besides the obvious thing, wealth, they are all well known for exemplifying habits successful people follow. What Are The Main Habits Successful People Follow? I hate to say this, but, that depends! Throughout history, many famous CEO’s have …
KPIs – If You Can Measure It, You Can Manage It
It was Peter Drucker who said, “If you can measure it, you can manage it”. KPIs fall into that category. KPIs – Do The Work Early! The specific metrics that drive any business will differ from startup to startup, and very few first-time founders are likely to understand them from the get-go. But they must …
What Business Metrics Do Investors Check Before Investing?
Are you a Startup Founder about to raise or already raising external investor capital? You MUST know what business metrics those investors are going to check. The outcome will determine if they invest or not. Be The Queen Or King Of (Your) Business Metrics From Day 1 Don’t wait until you are about to start …
Will ChatGPT Make My Business Obsolete?
When the company OpenAI released the latest version of ChatGPT last year, all hell broke loose. What Is ChatGPT And What Can It Do? ChatGPT is a powerful language generation model that can be used for a variety of applications, including chatbots, question-answering systems, and language translation. Importantly, it can be integrated into businesses to …
The Right Investors For Your Startup. How Do You Find Them?
Starting a business is a challenging and exciting endeavor. However, it can also be difficult to get off the ground without sufficient funding. The secret lies in finding the right investors for your startup. Who Are The Right Investors For Your Startup? Here are some tips for finding the right investors for your startup. 1. …
The Power Law: VCs Use It. Startups Need To Understand It.
The power law is a statistical concept that describes the relationship between the frequency of an event occurring and the magnitude of that event. Why It Matters Your job as a Startup wanting to secure capital from a Venture Capital Fund is simple. Using the Power Law, convince them that your startup will be one …
Nail It Then Scale It: Raise Venture Capital Only When The Business Model Is Ready
Startup Founders often make this one deadly mistake. They raise capital and invest it into marketing BEFORE the business model is sustainable. Remember the rule of thumb. Nail it then scale it. I’d Like To Access Resources For My Startup… First Achieve Product-Market Fit. Nail It Then Scale It. As a startup, achieving product-market fit …
Is It Possible To Sell Your Startup On The Private Market?
Knowing When It’s Time To Call It Quits Is A Skill Few Entrepreneurs Perfect. However, The Good News Is That It Is Possible To Sell Your Startup If The Timing Is Right. You’ve Got To Know When To Hold ‘Em, Know When To Fold ‘Em, Know When To Walk Away, And Know When To Run. …