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Startup tries to demystify legal bills, lands big-time attorney
After being repeatedly frustrated with the billing practices of law firms, entrepreneur David Schottenstein hired a childhood friend to do his legal work. That partnership eventually led to the creation of Viewabill, software that is designed to provide more transparency into the billing process. Schottenstein wanted attorney Alan Dershowitz to endorse it, but Dershowitz liked the idea so much, he signed on as a co-founder. Fast Company online (3/11)
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You're CEO of a startup; what should you do next?
CEOs who start companies often find that the skills they used to get going aren't those needed to run the company in the next phase, writes Firas Raouf, a venture capitalist. Such CEOs have three options: develop the skills they need, hire executives with the requisite skills or recruit a replacement CEO and find a new mission. OpenView Blog (3/6)
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How women entrepreneurs can raise more money
Women entrepreneurs tend to not get funded as often as their male counterparts, and that might be partly because they tend to start businesses in industries that might not appeal to male investors, according to venture capitalist Kay Koplovitz. However, entrepreneurs can improve their chances of getting funding by projecting a sense of confidence, understanding the business landscape and having deep knowledge of their finances. "Tell them how you're going to make them money," Koplovitz advises. Inc. online (free registration) (3/10)
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How one company developed 2 revolutionary products
Developing a successful product is all about solving the problems that face your target customers. Innovation consultancy Continuum has been able to do that on multiple occasions, first with the development of the Reebok Pump and later with the creation of the Swiffer cleaning tool. The company has used a process known as "phase zero" that involves "stepping back from what we were asked to design and understanding really what the context was of the product we were asked to innovate," according to Continuum founder Gianfranco Zaccai. Fast Company online (3/11)
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Why failure can be a good thing
Failure might be discouraging, but it can also provide valuable lessons for entrepreneurs, experts say. Leaders can become better at managing failure by admitting to their mistakes, learning from setbacks and trying to remain positive. "How you respond to failures is way bigger than how you failed," said Jim Grew, leader of the Grew Co. Intuit Small Business Blog (3/11)
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Sometimes a failure is the best thing that can happen to a company."
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