Ideas Worth Toasting (and Trying) in 2020Download PDF
It's worth noting that "2020" is also a metaphor for clear vision -- something that all people who run a business want but often find elusive when day-to-day challenges interfere. As 2019 ends and the new decade begins, it's a good time to savor past successes, learn from past mistakes and set our bearings for the future. So we are continuing a tradition we started in 2019 in presenting a reading list of articles that address critical goals and challenges that entrepreneurs experience. We've updated the list to reflect what's been published on EIX and familybusiness.org over the past year.
Happy reading and good luck!
1. Becoming an Entrepreneur
Entrepreneurship can be foisted upon you if you're laid off, or it can be a deliberate choice. Either way, make sure you're prepared.
2. Finding and Evaluating Opportunities
Does your solution to a problem pass the "acid test:" Will people want to buy it? And does your business strategy maximize value?
3. Getting Funded
Outside investment and business accelerators are inevitable for many startups and established businesses that want to grow quickly or scale up. What's the best choice and when is the price too high? And how can families bankrolling their own venture prevent risking their family finances?
4. Strategic Early Decisions
Getting your idea ready for the marketplace requires resources to develop it. That means people and money, often more than a fledgling business can afford.
5. Outlasting the Competition
Can you survive the inevitable competitors and changes in your industry? And will your family business still thrive after you're gone?
6. Building and Managing Your Team
Great ideas require a great team to bring them to the market and to keep your enterprise humming. Conflict is inevitable, decisions are often messy, and leadership requires constant practice.
7. Communicating Effectively
Effective communication skills can be taught and practiced. If your venture has social or sustainability benefits, you will need to articulate them well.
Download the free 250-page eBook about better communication, "So What's Your Point?," by clicking the link at the top of this article.
8. Making an Broader Impact
Social media increasingly subjects more businesses to scrutiny over their policies and practices, and more socially conscious younger people are becoming entrepreneurs. This has spurred a broader view of "stakeholders" -- encompassing employees, customers, communities and society as well as investors. These articles explore how entrepreneur-led businesses can be part of a larger social fabric.