top ten reasons otherwise good businesses fail
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Top Ten Reasons Otherwise Good Businesses Fail - Speaker: Matt Salzman, Stinson Morrison HeckerTRANSCRIPT
The Top Ten ReasonsOtherwise Good Businesses Fail
Matt Salzman
Don Bayer
Steve Cosentino
Vicki Westerhaus
© Stinson Morrison Hecker LLP, 2010
Top Ten ReasonsOtherwise Good Businesses Fail
1. Failing to protect your valuable business assets by not using enforceable non-compete or non-solicitation agreements.
2. Failing to protect your confidential information by not implementing adequate confidentiality agreements.
3. Improperly classifying certain individuals as independent contractors or exempt employees.
© Stinson Morrison Hecker LLP, 2010
Top Ten ReasonsOtherwise Good Businesses Fail
4. Ignoring intellectual property ownership issues, and finding out later that you don't have ownership.
5. Letting your intellectual property protection strategy, or lack of one, slow you down or hit your bottom line.
6. Failing to invest in relatively inexpensive intellectual property protections up front that could have a bigger pay off later.
7. Letting the Internet become a liability magnet.
© Stinson Morrison Hecker LLP, 2010
Top Ten ReasonsOtherwise Good Businesses Fail
8. Not having an adequate business plan, with realistic projections, a budget and overall strategy for the future.
9. Developing a poor capital structure, leading to unmanageable debt and a divided ownership group (especially if founder grants early-stage equity to employees).
10.Failing to accumulate reserves and/or be in a position to raise more funds to survive volatile market conditions and unexpected downturns.
© Stinson Morrison Hecker LLP, 2010
Top Ten ReasonsOtherwise Good Businesses Fail
1. Failing to protect your valuable business assets by not using enforceable non-compete or non-solicitation agreements.
2. Failing to protect your confidential information by not implementing adequate confidentiality agreements.
3. Improperly classifying certain individuals as independent contractors or exempt employees.
4. Ignoring intellectual property ownership issues, and finding out later that you don't have ownership.
5. Letting your intellectual property protection strategy, or lack of one, slow you down or hit your bottom line.
© Stinson Morrison Hecker LLP, 2010
Top Ten ReasonsOtherwise Good Businesses Fail
6. Failing to invest in relatively inexpensive intellectual property protections up front that could have a bigger pay off later.
7. Letting the Internet become a liability magnet.
8. Not having an adequate business plan, with realistic financial projections, a budget and overall strategy for the future.
9. Developing a poor capital structure, leading to unmanageable debt and a divided ownership group (especially if founder grants early-stage equity to employees).
10. Failing to develop a strategy to accumulate reserves and/or be in a position to raise more funds to survive volatile market conditions and unexpected market downturns.
© Stinson Morrison Hecker LLP, 2010
Top Ten ReasonsOtherwise Good Businesses Fail
1. Failing to protect your valuable business assets by not using enforceable non-compete or non-solicitation agreements.
2. Failing to protect your confidential information by not implementing adequate confidentiality agreements.
3. Improperly classifying certain individuals as independent contractors or exempt employees.
4. Ignoring intellectual property ownership issues, and finding out later that you don't have ownership.
5. Letting your intellectual property protection strategy, or lack of one, slow you down or hit your bottom line.
6. Failing to invest in relatively inexpensive intellectual property protections up front that could have a bigger pay off later.
7. Letting the Internet become a liability magnet.
8. Not having an adequate business plan, with realistic financial projections, a budget and overall strategy for the future.
9. Developing a poor capital structure, leading to unmanageable debt and a divided ownership group (especially if founder grants early-stage equity to employees).
10. Failing to develop a strategy to accumulate reserves and/or be in a position to raise more funds to survive volatile market conditions and unexpected market downturns.
The Top Ten ReasonsOtherwise Good Businesses Fail
Matt Salzman
Don Bayer
Steve Cosentino
Vicki Westerhaus