In Case You Missed It: Launch Links - Week of January 20, 2019
Some interesting links we found across the web this week:
Who the Hell is Running My Startup?
Entrepreneurs are known for their passion and drive. They believe in their idea and will do whatever they can to turn that idea into a successful business. However, this does not necessarily mean that all entrepreneurs know the best way to organize and manage their new startups. This article by Medium explains the basics of building the right executive team and to effectively run and oversee the new business. It highlights what type of people should be on that executive team and when the best time to organize the may be. The article also discusses the important roles of advisors and mentors that can always step in and help too. A business starts with an idea, but it becomes successful when it has the right leadership behind it.
5 Ways Contracts are an Entrepreneur’s Best Friend
Some entrepreneurs shy away from lengthy, negotiated contracts as they believe most of the language is boilerplate and will never be fully read anyway. This Entrepreneur article highlights the many benefits of putting deals and agreements into writing, such as providing certainty in professional relationships and obligations or considering the consequences of unforeseen events. When you are trying to focus on your daily business activities, it can be nice to know that there’s a piece of paper that has the unasked or unusual questions already resolved.
Understand Your Venture Capital Term Sheet!
When the time comes to raise money for your startup, you want to be prepared to understand what your potential investors are offering. Read this Medium article to understand some of the common key terms of an initial term sheet to know what you are really getting out of your new financing.
The Founder’s Commitment
Dedicating yourself to your startup can be extremely challenging, but also extremely rewarding. The ups and downs of that commitment may sometimes force you to rethink your role as the founder of the company, which one of the founders of Soundcloud has done. This article by AVC highlights Eric Wahlforss’ commitment to Soundcloud for the past 11 years and how his recent reflections have led him to step down to an advisory role. It is very important for founders to remain committed to their role through the chaos of building a company, but it is equally important for those same founders to take moments to step back and determine what is best for them individually. Stepping down can be difficult, but it never discredits the years of dedication and hard work that the founder put into his or her company.
Tongue Twisters for Tech Startups
Disrupting a market as a new, exciting tech startup can be great, but it also brings many challenges. Check out this article in The New Yorker for some humorous tongue twisters for those wanting to get a glimpse into what it’s really like starting a tech company. For those who have already ventured to do so, hopefully these twisters can provide a quick laugh into some of the daily woes of running a business.
Links compiled by Jenny Moore.