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Business e Finanza
Entrepreneur's Startups

Entrepreneur's Startups

Summer 2020

Entrepreneur's Startups is for anyone dreaming of launching a business. Entrepreneur's Startups is the must-have resource for hands-on insights and information on how to get your business off the ground and running in no time. Published three times a year, with each issue you'll discover countless business ideas, see how others got their start and how you can too

Paese:
United States
Lingua:
English
Editore:
Entrepreneur Media Inc.
Frequenza:
Quarterly
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1 minuti
never let ’em see you sweat

Are you serious about wanting to be a better negotiator? Then learn to play poker. A good poker player is almost always a good negotiator. Consider the lessons poker teaches you: • Use a “poker face” to conceal your emotions.• It isn’t so much the hand you’re dealt as what the other players think you’ve got. If you get a great hand and show too much enthusiasm, the other players will fold early and leave you with a small pot, but if the other players think you have only a mediocre hand, they’ll stay in the game and leave a lot more money on the table.• Likewise, if you truly have a mediocre hand, by making the other players think you’ve got something better, they’ll yield to their insecurity and fold…

7 minuti
what’s your deal?

WANT MORE HOW-TO ADVICE? PICK UP OUR COMPREHENSIVE GUIDE, START YOUR OWN BUSINESS, AT ENTREPRENEUR.COM/SYOB. If you’re in business, you’re a negotiator. You have no choice. Business doesn’t happen unless two or more people enter into a transaction. This can be as simple as buying inventory or as complicated as a merger of two public companies. Without transactions, business doesn’t happen, and every transaction involves a certain amount of negotiation. If I had to pick one of the scariest challenges facing every first-time entrepreneur, it would be learning how to negotiate. Nobody (except perhaps a lawyer) likes to negotiate—it’s confrontational, it involves a certain amount of “playacting,” and it may put you in the position of thinking you’re “putting something over” on another human being. In a big company, you had the luxury…

2 minuti
the golden rule

You can never get a bargain on something you really, really want. In any negotiation, the side that needs the deal more is the side that gives up the most—precisely because they need the deal and can’t afford to have the other side walk away. Winning the most points in a negotiation is almost always a function of: (1) not needing the deal as much as the other side does, (2) convincing the other side they need the deal more than you do, or (3) a combination of 1 and 2. Nervous about negotiating? Here’s a great way to practice. Go to collectibles shows and look for items you don’t feel strongly about—you can take them or leave them. When you find one, approach the dealer and offer him 50 percent of…

1 minuti
sales contract negotiating points

❏ The number of goods to be sold❏ The condition of the goods at the time of delivery❏ Return privileges and/or credits for goods delivered in defective condition❏ Rebates for goods that aren’t sold within a specified time period❏ Shipping and delivery dates❏ Method of shipping (UPS versus FedEx, for example)❏ Method of payment (money order versus credit card, for example)❏ Currency of payment (for international sales)❏ Whether discounts will be offered for volume or bulk purchases❏ The timing of payment (cash up front versus installment payments)❏ The interest rate to be paid on any deferred portion of the purchase price❏ The penalty rate of interest to be paid if any portion of the purchase price isn’t paid on time❏ Whether the seller will have a lien on the goods…

3 minuti
“help me, or destroy me”

Angela Gennari didn’t expect to win. She’s honest about that. She’s the founder of Titan Global Enterprises, an Atlanta-based company that staffs and runs security for events, and it’s a small player in a giant industry. So when the University of Georgia’s athletics contract came up for 2019 (which included its huge football stadium), she saw it as a good learning opportunity. She thought she’d throw everything she had at the bid, lose, get some great insight, and be better prepared next time. But then the unexpected happened: She won. “What a sense of release that was,” she says. The feeling would soon turn to panic. She discovered that her three employees overseeing operations were slacking—not filing important documents, not properly training new employees, and so on. “It could have cost me…

2 minuti
who breaks the tie?

1 Focus on the “yes.” “When we started our business, we discussed our strengths and interests and decided that if we couldn’t resolve an issue, I would have 51 percent ownership over the finances and my cofounder, Christiana [Coop], would have 51 percent ownership over design. But we also agreed to discuss our differences in opinion, and for more than 11 years, we haven’t had to play our ‘ownership card.’ Our default is that if we both can’t get to yes on something, we pass.”—AIMEE LAGOS, cofounder, Hygge & West 2 Turn to your team. “We’ve built a highly experienced executive team—VP of operations, VP of construction, VP of finance—to help us settle disagreements and differences. They’re our tiebreaker. This allows us to spend less time bickering and more time on strategy.”—PAUL ALTERO,…