"Let me say that this book was fantastic. I loved it. It was a pleasure to read, extremely well written, informative, funny, and insightful. I would highly recommend it to anyone starting a business, not just entrepreneurs."
—Herbert C. Goss, WGA Emeritus
Are You a ‘Necessity Entrepreneur’?
Necessity Entrepreneurs are in business to put food on the table for their families and employees. They aren’t operating on big bankrolls of venture capital (at least initially), and they don’t have trust funds to fall back on if the business fails. This type of entrepreneur is uniquely equipped to build exceptional businesses and inspire meaningful industry change. With people counting on them, they have to persevere.
Starting a Business? Plan Your Exit Now
Before you build your business, you need to build in an exit plan. Ask yourself:
- Are you building a business to run it indefinitely, or to sell?
- How much time and money can you invest before your family is at risk?
- What do successful companies in your industry sell for?
- How much do you need to grow annually to hit that sell-for target?
- Does your market opportunity align with the growth you need?
- If not, what will you do?
3 Mistakes Every Entrepreneur Should Avoid
The legal world can be needlessly complex, which prompts many new entrepreneurs to make the same legal mistakes, including:
- You don’t own your work. Did you sign a contract with your employer that signs overs your intellectual property rights?
- Your product isn’t legal in particular industries, or it violates state law.
- You “borrowed” from the internet and are violating an existing copyright.