Expert Answer:What is needed in the success of a start up accord


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BSAD 325
Zero to One (Choice 4)
Professor Tucker
Tyler Depas

Errors at the beginning of a business are hard to fix
Strong foundation (start) will lean to success
Who you start with affects ^^^
o Are you compatible
o How well do you know each other
o Do you have the same fire
Employees must know what to expect, what their place is, and owner must know
what motivates them to perform better
o Ownership: who legally owns a company’s equity?
o Possession: who actually runs the company on a day-to-day basis?
o Control: who formally governs the company’s affairs?
On the bus or off, no in-between
o Partners, employees, anyone involved must be completely bought into the
business and its vison/mission
Founders, Partners, Employees must know the risk
o Start Ups aren’t comfortable money wise, beginning will be tight on pay in
order to use every dollar in the success of the company
o Offering ownership can entice those scared of low salaries in the
beginning (Make sure core owners retain 50-60% ownership)
Establish a strong/positive/good culture
o Hire people who have a fire
o Hire people who genuinely want to do the job and aren’t in it for the money
o Workplace should feel comfortable and positive
o Be genuine
Recruiting Talent/Good Employees
o Established culture should help with this
o Be genuine
o Have people on board that are easy/good to work with (Established in
o Delegate talent to their skill for efficiency
o It waste time and potentially money to try to have execs or anyone
generalizing/working on everything

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