100 Rules For Entrepreneurs: Real-life business lessons by Neil Lewis

By Neil Lewis

Complete, HARD-WON, NO-NONSENSE recommendation a hundred ideas for marketers covers each point of industrial from the entrepreneur's perspective. not like different publications it avoids mere theorising. in its place, every little thing is tackled in gentle of the realities of industrial within the twenty first century, and during the lens of significant entrepreneurial event. the increase of laws, the effect of festival and the expansion of globalisation implies that start-ups must be extra versatile and strong than ever prior to on the way to succeed. aware of this, Neil Lewis presents useful and unique suggestion on: - how one can effectively degree revenue - and what a very sustainable enterprise appears like (and the way it will be grown) - the way to deal with recruitment - and never merely why freelance is the longer term, yet how most sensible to exploit it - easy methods to deal with your administration staff, set powerful targets to your company and stop the rot from environment in - the simplest time to promote your online business (and how top to do it). He additionally brings to endure his studies on facing dividends, shareholders and different complicated features of operating a start-up. GRITTY knowledge available and noteworthy - counterintuitive every now and then, every now and then reassuringly uncomplicated; refreshingly lifelike all through - a hundred principles is the last word better half for modern day entrepreneur. it's the direct and genuinely-earned knowledge of an entrepreneur who has noticeable all of it: the giddying heights of achieving a £12m valuation in 8 years from an easy begin in a again bed room with a working laptop or computer and £2,000; the dizzying descent of wasting all of it in , and the paintings required to choose up and begin, effectively, back.

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Therefore, you can stay focused on what is best for SHAREHOLDERS – and put their interests first. Lastly, if shareholders are not receiving a dividend of any kind and the business is growing, then the shareholders would be advised to sell. It would be wise to include such an option in any shareholder agreement whereby the shareholders can sell their stakes to anyone of their choice without offering tag-along rights (that is, ensuring that they can sell their own shares without regard to other shareholders – Rule 91) if they don’t receive dividends of at least 5% of turnover.

So what is the solution? How do you use goals but not become fixated or constrained by them? Firstly, give your goal an annual review in which the shareholders can vote to change it. Secondly, in case you can’t reach an agreement with the shareholders as to a target right now, set a date further ahead – say in three years’ time – when the goal will expire. When you reach three years hence, the shareholders can either agree a new goal or that there is no goal. With this approach, shareholders will come to an agreement that is much more likely to reflect the realities of the position of the business within the overall business cycle.

It also means that you don’t waste your or anyone else’s time. Showing that you are willing to walk away can also be a great way of allowing the other side to make one last effort to reach an agreement that works for both of you. However, if the other party does come back, remember not to negotiate them down too hard, as you must leave sufficient profit or other incentive for them to want to deliver a quality piece of work. Ultimately, a poor or average piece of work is not worth anything anyway and will damage your business either immediately or in the long run.

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