From Start Up to Real Company: The Five Key Essentials By Marcia Zidle
You have an idea, youâve shared it with a few of your friends youâve written a business plan and then took the plunge not knowing how things would work out. To your surprise or not, they did! Now what? For most entrepreneurs the answer is: Grow! Grow! Grow! But there are definite challenges.
My guest on this episode of the Business Edge is Zain Ali, Managing Partner at Sunbonn, and adjunct professor at the University of Texas at Dallas, He will explore three common choices that most entrepreneurs have in front of them. If itâs growth, he then shares his vast experience and methodology as a consultant to major companies as well as a successful entrepreneur and business owner.
Listen to the Podcast and Learn:
*The biggest mistake he made with the rapid expansion of his company
*How to build a management team that is aligned with the culture you are creating.
*The big dilemma: Keep or let go of people who are not the right people going forward.
*Why itâs important to clearly define the product s and/or services that you will take to market
*How to trickle down company goals and values to everyone: Itâs communication and measurement.
The key take away: Itâs OK to borrow money to advance your vision. In the Goldmanâs Sach 10,000 Businesses Program he attended, there was an exercise that gave everyone a blank check of a specific amount to spend on their business. He gave his check back because his business was self-funded. What he realized was that to grow, you will need additional funding and that itâs OK to take on realistic debt.