As forecast, on March 27 the U.S. House of Representatives passed the Senate's amended version of the Jumpstart Our Business Startups Act (the JOBS Act), clearing the way for President Obama to sign the bill into law, which he is expected to do in the coming days. The JOBS Act's stated purpose is to spur job creation and economic growth by improving access to capital for emerging growth companies by making some of the most significant changes to the U.S. securities law landscape in over a generation.
Improve the probability of startup success by maintaining maniacal focus on the needs of your customers. A startup may capture disproportionate media attention with aggressive PR, but nothing can replace the power of extremely satisfied customers.
The Jumpstart Our Business Startups (JOBS) Act will most likely be law before the end of next week. The bill that was passed by the U.S. House on March 8 was passed by the Senate yesterday, March 22, with only one amendment on so-called "crowdfunding" (raising funds in small amounts from a large number of investors), and the House is expected to take up the amended bill on Monday for expedited passage and delivery to President Obama, who has signaled he will sign the bill when it reaches his desk.
Is your business making the world a better place but struggling to communicate its public benefit to consumers and investors? Consider filing as a Benefit Corporation or pursuing B Corp Certification to differentiate your company from the crowd.
There is one thing people will always associate with your business - its name. Apple, Patagonia, Facebook, Ford - tech, non-tech, it does not matter. A memorable name can be integral to your brand. And today that brand lives both offline and online, so you should choose a name that is not only evocative of your brand but also is useable online, because the internet drives or touches so much of modern commerce.
Finding top talent is a challenge for any company, but for a startup it is crucial for success. Traditional methods of finding employees have been replaced, unsurprisingly, with online networking and target marketing.
The right attention from the right investor can translate into much-needed financing for your startup. When you communicate your business idea effectively and clearly while highlighting its potential impact on market share, it will resonate with financial backers.
Most founders are not in a position to bootstrap, or solely fund, their way to startup growth and success. Initial product development and market entry is typically funded through external investments, such as common stock financing or venture capital investments.
Making the right connections is important when starting a business. Knowing how to parlay a great idea into a business opportunity that investors will get back is a critical part of building your network.
Starting a business can feel like a roller coaster ride. Learning from the successes and failures of fellow entrepreneurs can help you cope with the highs and lows of business development.