Free Complete Toolkit for Boards

This virtual library designed by Carter McNamara, MBA, PhD provides a bonanza of resources for board members, those contemplating serving on a board, or companies organizing or working with an existing board of directors, stating:

"Corporations, whether for-profit or nonprofit, require a governing Board of Directors. Governing Boards have certain legally required duties, including duties of care, loyalty and obedience... Some people believe in life stages of Boards, including that they 1) start out as "working" Boards where members focus on day-to-day matters in addition to strategic matters, 2) evolve to "policy" Boards where members focus mostly on strategic matters, and 3) eventually become large, institutionalized Boards that often have small executive committees and maybe many members some of which are "big names" to gain credibility with funders or investors.

Boards can have a broad range of "personalities." For example, Boards of large for-profit and nonprofit corporations might be very formal in nature with strong attention to Parliamentary procedures, highly proceduralized operations, etc. In contrast, Boards of small for-profit, family-owned corporations might be very informal in nature and comprised mostly of members of the family, rather than of independent members (members from outside of the family and/or corporation)...

Recent illegal activities, particularly in large, for-profit corporations, have brought much attention to the roles and responsibilities of Boards, especially to their degree of effective oversight ("oversight" as in ensuring strong, effective organizations), ethical operations and approach to compensating senior executives..."

Technorati Tags: business, management, entrepreneurship, startup, legal

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Lakota Instructions for Living

"Friend do it this way - that is,
whatever you do in life,
do the very best you can
with both your heart and mind.

And if you do it that way,
the Power Of The Universe
will come to your assistance,
if your heart and mind are in Unity..."

Read more in this post from conscious living journal.

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FactSheets from Barclays Business Banking

The Barclays Business Information Factsheets Service provides concise but comprehensive information on various aspects of running a business. Below are examples of the type of information provided:

1. A guide to writing a Business Plan
2. A guide to renting premises for your business
3. Could you run your own business?
4. A checklist for financing a new business
5. How to forecast cash flow

Technorati Tags: business, entrepreneurship, startup

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Reading Between VC Lines

This post by Guy Kawasaki explains how to understand what a venture capitalist is really saying. For instance, at to whether a VC is interested in investing in your company, each of the following means "No":

'I liked your company, but my partners didn't.'
'If you get a lead [investor], we will follow.'
'Show us some traction, and we'll invest.'

Technorati Tags: business, venture capital, entrepreneurship, startup

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Technology Trends for 2006

See this post by Manav Sehgall the provides links to 9 different sources of technology predictions for 2006. Common themes include security, offshoring debate, Web 2.0, Year of the Blog and Software as a Service.

Technorati Tags: technology

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Open Source to the Rescue

"The traditional enterprise software business model is broken. A rabid search for new customers and revenue growth has caused sales and marketing costs to spiral out of control...

This quest for additional revenue has created an untenable cost structure for the industry - one that doesn't serve vendors or their customers. In essence, vendors spend a lot of money to convince customers to buy, and then charge them a lot of money for the license which covers the sales and marketing costs. We're charging the customer just to sell to them.

Enter Open Source..."

Read more in this SandHill.com article.

Technorati Tags: software, open source, technology

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States Add Laws on Data Breaches

"Companies struggling to keep up with a patchwork of state laws related to data privacy and information security have three more to contend with, as new security-breach notification laws went into effect in Illinois, Louisiana and New Jersey on Jan. 1.
Like existing statutes in more than 20 other states, the new laws prescribe various actions that companies are required to take in the event of a security breach involving the compromise of personal data about their customers...

For companies that do business nationally or in various states, the smorgasbord of state laws poses a growing problem, because the measures often specify different triggers for notifications and set varying requirements on what needs to be disclosed, to whom and when..."

Read more in this article from Computerworld found via this post from Gahtan's Technology and Internet Law Blog.

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ESOP No Fable, but Viable Exit Stratgy

"One of the great ironies of entrepreneurship is that many people spend years building their companies, only to undo all of that work at the very end by deciding to sell the business to the wrong person. Decisions like that don't have to be made, especially today. Employee stock ownership plans, or ESOPs, have become a mainstream alternative for business owners who wish to sell their business but want it to remain largely intact...

Legally, an esop is a tax-qualified retirement plan. It borrows money to buy the owner's shares, then allocates them to employee retirement accounts as the loan is paid off. In certain circumstances the selling shareholders can defer capital gains taxes...

But selling to the employees? Will the inmates be running the asylum?

The legalities are clear and reassuring to nervous managers. The business runs as usual, with the CEO and the board in charge. The ESOP shares' votes are in the hands of a trustee, who is appointed by the board, just like the CEO. What's not so clear are people's expectations...

One key to success is educating employees about what it means to be an owner. Yes, you will benefit in a major way if the company makes money and grows; here's how. No, you don't get to tell your boss what to do, and no, you aren't automatically entitled to know what she makes..."

Read more The Ultimate Employee Buy-in from Inc.com.

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Cool Photos from the Pittsurgh Flickr Pool

slopes
Originally uploaded by sharwest.

Terabull Tahls
Originally uploaded by UrbanTiki.

Just some of the photographs recently posted to the Pittsburgh, PA Pool on Flickr.

The Morning's Best View
Originally uploaded by btezra.

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Licensing University Technology

"What do Yamaha synthesizers, gene splicing and DSL have in common? They are all based on technology licensed from universities. As these examples show, universities often develop and license new cutting edge technologies. In this brochure [from Fenwick & West via Mondaq], we will walk you through the process of determining whether a university license may be right for you, how to obtain a university license, and the deal terms you can expect to find in a university license."

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Venture Capital Conferences Directory

"The world of venture capital is built on relationships that foster ideas into actions. Conferences and discussion forums are, without a doubt, ideal environments in which these partnerships are born and developed. Venture Capital Conferences brings together a comprehensive online database focused on venture capital and emerging technologies events in America."

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Business Planning Links

"This library of resources [from Business Resource Software] contains links to hundreds of sites offering research materials on every area of planning a business including: venture capital, new products, market analysis, competitive analysis, production management, tax problems, legal issues, financial statements, writing a business plan and much more."

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Stress Busters for the New Year

"Set Realistic Goals...

Use the Power of Positive Self-talk
The best way to eradicate those "weeds" that fill the "garden" of your subconscious mind is to practice telling yourself positive, self-enhancing thoughts every time you catch yourself being negative...You can re-program your subconscious by recognizing your negative, self-defeating thinking patterns...and changing them on the spot....

Choose an Optimistic Interpretation of Events...

Change Your Diet and Exercise Habits...

Embrace Opportunities for Relaxation...
One of the best stress busters is regular relaxation breaks. These can range from spontaneous mini-vacations (e.g., weekends), to a relaxing walk in a serene place (e.g., the beach or near a babbling brook), to taking 15 minutes twice a day to meditate right in your office. There are many excellent relaxation tapes, yoga exercises, and visualization/hypnosis tapes on the market. The key to this is to make the time, be sure you will not be interrupted and stick to your plan. Recharging your emotional batteries is healthy and easy to do, as long as you take charge of yourself to allot the time and make relaxation part of your weekly routine.

Stay Close to Positive People and Influences
Unfortunately, many of us are married to, related to, or work for negative, pessimistic people. These are folks who have their own fears of change, do not take risks, and wallow in their own misery. These members of the "negativity club" want you to join them, because that helps them to justify their own behavior and ideas...So, be a "Teflon" person...let the comments of these folks bounce off you...Find positive, optimistic, successful people to get close to, who will encourage you to move away from your habitual, "inside of the box" ideas. What a breath of fresh air that will feel like to you!

Search for Opportunities for Fun and Laughter..
Bringing fun into your life is immensely important for your health. Endorphins, which override stress hormones and produce a sense of release and calm, are released by the brain every time we laugh or engage in a fun activity. In fact, the immune system is impacted in a powerful way by fun and laughter...

Read more in this article by Dr. Jack Singer.

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Advice & Resources for College Entrepreneurs

From this article from Quintessential Careers:

"The most common piece of advice among experts on collegiate entrepreneurism seems to be -- just do it. Don't wait too long to launch your business. Don't make excuses for why it won't work or why you can't do it. Don't let fear, lack of money, insufficient time, or other obstacles stand in your way. Even if you fail, you still will have gained a great learning experience."

Other tips from the article:

"Be a problem-solver. Find a need or a niche and demonstrate that your idea can fill it. Do your homework so you truly understand the market into which your product or service falls.

Gain exposure to others who have started successful businesses, especially other college students and recent grads who can inspire and motivate you.

Be innovative. Hone your idea by sharing knowledge and brainstorming with other college students.

Network and get a mentor...

Take on extracurricular leadership roles to gain management practice and consider working at an entrepreneurial company to attain practical experience...

Speak with confidence and contagious enthusiasm when you tell others about your business idea -- especially when you tell investors -- but don't be too cocky...

Start your business and get class credit, too..."

And to help you along in your endeavors, check out this excellent collection of Resources for College Entrepreneurs.

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Guide to Startup Forecasting

"Forecasting business revenue and expenses during the startup stage is really more art than science. Many entrepreneurs complain that building forecasts with any degree of accuracy takes a lot of time--time that could be spent selling rather than planning. But few investors will put money in your business if you're unable to provide a set of thoughtful forecasts. More important, proper financial forecasts will help you develop operational and staffing plans that will help make your business a success."

This article by Asheesh Advani provides some detail on how to go about building financial forecasts when you're just getting your business off the ground.

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VC Presentation 10/20/30 Rule

"It’s quite simple: a PowerPoint presentation should have ten slides, last no more than twenty minutes, and contain no font smaller than thirty points...

Ten is the optimal number of slides in a PowerPoint presentation because a normal human being cannot comprehend more than ten concepts in a meeting...If you must use more than ten slides to explain your business, you probably don’t have a business.

The ten topics that a venture capitalist cares about are:

1. Problem
2. Your solution
3. Business model
4. Underlying magic/technology
5. Marketing and sales
6. Competition
7. Team
8. Projections and milestones
9. Status and timeline
10. Summary and call to action

Read more in this post by Guy Kawasaki. For another perspective on what a VC presentation should include, see this Brad Feld post where he identifies the following questions as being necessary to answer:

1) What is your vision?
2) What is your market opportunity and how big is it?
3) Describe your product/service
4) Who are your customers?
5) What is your value proposition?
6) How do you sell?
7) How do you acquire customers?
8) Who is your management team?
9) What is your revenue model?
10) At what stage of development are you?
11) What are your plans for fund raising?
12) Who is your competition?
13) What partnerships do you have?
14) How do you fit with the prospective investor?
15) Other
- What assumptions are key to the success of the business?
- What "gotchas" could change the business overnight? New technologies, new market entrants, change in standards or regulations?
- What are your company’s weak links?

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Habitat for Humanity Bicycle Challenge

uphill
Originally uploaded by TigerTigerTiger.

My daughter is one of the student leaders organizing the Habitat for Humanity Bicycle Challenge for 2006.

She and 89 other college students, in an epic effort to raise awareness and money for Habitat for Humanity, will saddle up and spend this summer biking 4,000 miles across North America.

Every night, the riders will give presentations and answer questions in churches and community centers, trying to increase Habitat's visibility, stimulate the formation of new chapters, and encourage donations.

To make HBC 2006 a success, the riders need your help! Please take a moment to browse through a list of frequently asked questions and their answers, and check out some more information about the Bike Challenge.

If you like what you see, consider raising money and awareness by biking coast-to-coast for Habitat (applications posted soon), donating to the trip, or becoming a corporate sponsor.

Since each rider is required to raise $4,000 to go on the trip, if you decide to donate, please include my daughter's name, Deirdre Cerminaro, so that she may receive credit for your kind contribution.

Finally, the riders are specifically in need of a corporate donation of three digital projectors to use each evening to make their presentations. Please contact me if you or someone you know would be interested in donating them.

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New Years Wishes

New Years wishes from Ed Morrison:

May we see a world next year in which more children are safe and healthy, more adults do good work, and each of us are connected with more ties of understanding and compassion.

Via this Brewed Fresh Daily post.

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Starting a Small Business Articles

This post from lifehack.org provides links to three articles by Jerry Glenn at the Entrepreneur Network on how to start a small business. The articles provide information on selecting a business to start, choosing the type of business organization, how to raise money for your small business and writing a business plan.

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Links to Entrepreneurial Resources

"Entrepreneurial Resources (EntrepreneurialResources.info) is a Subject Tracer Information Blog developed and created by the Virtual Private Library. It is designed to bring together the latest resources and sources on an ongoing basis from the Internet for entrepreneur resources...This site has been developed and maintained by Marcus P. Zillman"

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