In his latest Entrepreneur column, Manatt Digital and Technology Consulting Managing Director Kalon Gutierrez discussed why it is critical for entrepreneurs to take comprehensive action when starting a company to help prevent future complications and ensure longevity.
“Due to arbitrary and self-imposed goals and timelines, founders may overlook critical components to building a lasting business. Haste can be met with regret later on in the company lifecycle, costing time, human and financial resources and, potentially, the company,” Gutierrez wrote.
He offers eight actions founders can take to build a strong foundation for their companies:
- Properly forming their company under the right structure
- Protecting their IP
- Creating a proper board of advisors
- Determining the RIGHT financing strategy
- Evaluating founding team dynamics and identifying the gaps
- Assessing the current macro environment
- Paving their path to markets
- Determining their long-term commitment/investment
Read the complete article here.
See more of Gutierrez’s Entrepreneur articles here.