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. Don’t make promises before you are ready for prime time. Customers care about products and services that deliver results and are backed by developer expertise and high-level service.
Communicate your vision in a comprehensive way and add value to what you offer by exceeding customer expectations. Use launch-level media attention to help create awareness, but leverage the inherent value of your product to endear your customers and turn them into self-appointed ambassadors for your brand.
When Should I Form a Legal Entity?
As startup lawyers, we often receive inquiries from passionate entrepreneurs and founders seeking guidance on when they should consider taking their side projects to the next step by forming a legal entity. Forming a company is a “crossing the Rubicon” moment for any startup. It’s an essential step…
Investment Company Status Considerations for Cash Positioning in Wake of Bank Failures
Given this week’s headlines, many emerging companies may be asking themselves: “Why am I holding so much cash?” The Investment Company Act of 1940 (the 1940 Act) may be to blame. “But I don’t have any intention of being an investment company. Aren’t those mutual funds or…
Distressed Bank Update as of March 16, 2023
In the three days since federal authorities announced sweeping measures to protect depositors of Silicon Valley Bank (SVB) and Signature Bank and help prevent additional bank failures (as discussed in our update of March 12, 2023), the U.S. banking system appears to have stabilized, at least temporarily.…