6 Tips For Avoiding A Founders’ Breakup

Posted on by

SIBP-Blog-NEW-B-5When a business partnership goes bad, the results can easily rival even the messiest romantic breakup. Founders’ breakups are an all-too-common problem in the startup world, and most entrepreneurs have a story or two about the business meltdowns and broken friendships that happen when the people who started a company together no longer see eye to eye. I even have a pretty good one of my own.

But just because it’s a common story doesn’t mean that painful founders’ breakups are inevitable. Handled correctly, it’s possible to avoid many of the simple blunders that create high tension between founders. Let’s take a look at a few tips for avoiding the business-breakup drama. Continue reading →

Ep. 198 – Seed Funding 101: Debt Financing Examples

Posted on by

Podcast: Play in new window | Download

SIBP-Blog-NEW-1One of the often overlooked options for small-business and startup financing is getting a loan from a friend or family member. Not only can this kind of person-to-person loan be easier to get, but it’s also more intuitive for both parties than trying to work out an equity-based deal. Getting your Aunt Sally to loan you $50,000 just isn’t going to be as complex as trying to create a meaningful valuation for your startup for her to buy equity in. But just because they love you doesn’t mean that friends and family loans should be taken any less seriously. Get this kind of deal wrong, and your family holidays are going to become pretty awkward.

In today’s episode, host and business coach Tom Ryan explores a simple example of a friends and family loan in action. As always, Tom is joined by producer and co-host Jason Pyles. Continue reading →

Lessons Learned From A Startup Founders’ Breakup

Posted on by

SIBP-Blog-NEW-B-2There’s a lot of wisdom that can come from a really bad breakup. Given a little time and some self-reflection, you can gain some pretty big insights into what not to do next time. While I’ve had my share of bad romantic breakups, the worst — and ultimately most insightful — breakup I ever had was as the co-founder of a startup.

Anyone thinking of starting a business with friends should hear this cautionary tale. Continue reading →

Ep. 197 – Seed Funding 101: Debt Financing Overview

Posted on by

Podcast: Play in new window | Download

SIBP-Blog-NEW-5At some point during the life of your business, you will need to expand. This is just as true for small-scale lifestyle businesses as it is for a high-growth startup. To finance that growth, you have two basic financing options: equity and debt. While equity can make a lot of sense for an early stage company, it’s not always the best option for a more established business. In those cases, debt might be the right tool for the job.

In today’s episode of the Success In Business Podcast, host and business coach Tom Ryan begins an overview of the basics of debt-based financing. As always, Tom is joined by co-host and producer Jason Pyles. Continue reading →

Tom Ryan’s Four Ps of Sales: Skill Sets and Compensation Requirements

Posted on by

Four Ps 2016If you’ve done your homework as we’ve talked about the previous “Four Ps of Sales,” you likely have all the information you need to determine the what skills you need as you grow your sales staff. You should also have a good idea what a reasonable level of compensation will be for the right salesperson. What those skills and compensation requirements will be completely depend on your startup’s needs.

Let’s say you’ve gone through each step in the “Four Ps,” and as a result you’ve created a clear sketch of your company’s sales needs. You’ve already done the heavy lifting of figuring out your sales process, and you’ve worked out the optimizations that allow for great sales performance. You’ve looked at your logistical needs, such as inside versus outside sales. You’ve even determined how much you can afford to pay for sales. Continue reading →

Ep. 196 – Seed Funding 101: Equity Is Expensive

Posted on by

Podcast: Play in new window | Download

SIBP-Blog-NEW-4Given the seemingly lower risks and potential benefits of equity, you might wonder why it isn’t always the preferred instrument for early-stage funding. There’s one simple reason: Equity is expensive. Every percentage point you give up in an equity deal takes a huge bite out of your profit when it’s time to exit. For some businesses, taking on debt to finance growth might make better long-term sense.

In this episode, host and business coach Tom Ryan talks about the bigger picture of debt and equity as fundraising instruments. As always, Tom is joined by producer and co-host Jason Pyles. Continue reading →

Tom Ryan’s Four Ps of Sales: What Kind Of People Do You Need To Sell Your Stuff?

Posted on by

Four Ps 2016It’s no accident that the last “P” in my “Four Ps of Sales” is “People.” To see the right results from your sales, you need to have the right process in place first. From there, you need to figure out your optimal sales performance, and then use that information to establish what you can afford to pay for sales. Only after you have all that in place can you start finding the right people to plug into the process.

Salespeople don’t define your sales process. They’re a resource within the overall sales solution. They’re a critical resource, no doubt, but they need to be a part of a larger, highly organized and optimized system. Continue reading →

Ep. 195 – Seed Funding 101: Your Personal Risk With Debt

Posted on by

Podcast: Play in new window | Download

SIBP-Blog-NEW-3When an investor gives you a million dollars, they now have a million reasons to be upset if the business fails. It’s not surprising that many investors will look for a way to get as much of that money back as they can, particularly if they think you’ve been negligent with their investment. If you don’t want to get sued, you might be wondering about the alternatives to equity-based funding deals, such as traditional business loans. What happens to the business debt when the business fails?

In today’s episode, host and business coach Tom Ryan continues his examination of personal risk in startup funding instruments. As always, Tom is joined by producer and co-host Jason Pyles. Continue reading →

Ep. 194 – Seed Funding 101: Your Personal Risk With Equity

Posted on by

Podcast: Play in new window | Download

SIBP-Blog-NEW-2As a startup founder, you really only have one job: Do not run out of cash. When the cash is gone, the business fails, your hard work evaporates, and your investors lose their money. For a first-time entrepreneur, what happens next isn’t always so clear. Just how much of that investment cash are you on the hook for, and what happens when an investor thinks you were negligent?

In today’s episode of the Success In Business Podcast, host and business coach Tom Ryan takes a look at the personal risks of a startup equity arrangement. As always, Tom is joined by co-host and producer Jason Pyles. Continue reading →

Ep. 193 – The Talent Jam Is Back

Posted on by

Podcast: Play in new window | Download

TalentJam-AVL-LogoTM-FBIn this special edition of the Success In Business Podcast, host and business coach Tom Ryan is pumped. Why? The Talent Jam is back! This one-of-a-kind event connects people with talent to the businesses and projects that need them. It’s a networking event mixed with a fast-pitch contest, with plenty of handcrafted local microbrew beer to go around.

Interested? Just listen to this podcast for all the details. The Talent Jam takes place on Monday, March 21, 2016, at the ISIS Restaurant & Music Hall in Asheville, NC. $5 to attend, and $25 to pitch, with all proceeds going to Green Side Up Foundation and Hands On Continue reading →