Inc. Magazine June 2017

Founded in 1979 and acquired in 2005 by Mansueto Ventures LLC, Inc. is the only major brand dedicated exclusively to owners and managers of growing private companies, with the aim to deliver real solutions for today’s innovative company builders.

United States
Mansueto Ventures LLC
6 Issues

in this issue

1 min
the best time of day to do important tasks

1 THE BEST TIME TO LEARN Your brain is primed to take in new infor mation when it is in acquisition mode—from 10 a.m. to 2 p.m. and from 4 to 10 p.m. 2 THE BEST TIME TO BRAINSTORM It’s when you’re slightly tired and easily distracted that you’re most likely to have inno vative ideas. 3 THE BEST TIME TO MAKE A CRITICAL DECISION Save big choices for one to three hours after you wake up. By then, you will have shaken off sleep inertia. 4 THE BEST TIME TO MAKE A SALE People are usually in a better mood on Friday afternoons—good to know if you need to ask them for money. TOP VIDEOS INC.COM/PLAYBOOK Beatriz Acevedo Founder of Mitú “When you’re producing video for social, think ‘What platform do we want this for?’ That can be the difference between…

2 min
the underdog’s edge

WELCOME RUNNING YOUR own company means being an underdog, practically by definition. There will always be an incumbent who has more capital, a fatter marketing budget, and more shelf space. What on earth do you have that can neutralize the big guys’ advantages? Well, I can think of two things, and they’re both covered in depth in this issue. The first is your work force. The prospect of crouching in the belly of a giant corporation has shrinking appeal for employees these days. That’s good for you. As the leader of a human-size organization, you have a unique opportunity to build a team who do their best work because they enjoy being there. That certainly defines the companies on our second annual Best Workplaces list (page 42). We can say that with confidence,…

3 min
so, you have this great idea ...

IN OCTOBER 2014, WHEN Leo Bereschansky dreamed up a ring that lets users signal for help, he didn’t realize he’d soon be on a mission to find a hired gun. But with hardware and software components to design, build, and integrate, he worked with three contractors and went through 140 design iterations before starting production. Nimb, his Wilmington, Delaware–based company, will ship its first rings in July, and Bereschansky’s glad he got outside help. “The advantage of a contractor is you don’t have to gather a team,” he says. “You don’t have to worry about whether people will work well together or how you’ll find a new person if somebody quits.” It seems more startups are following this route. In the past three or four years, says Allen Nejah, CEO…

1 min
the jargonator

• AQUAPRENEUR / • noun. One who peddles the libertarian fantasy of “seasteading”— “building freer societies upon unincorporated parts of the world’s oceans.” This is a fabulous idea … up to the moment a Chinese aircraft carrier sails into view. Source: ValueWalk NAAP / • noun. Alongside software as a service (SaaS), platform as a service (PaaS), infrastructure as a service (IaaS), and many, many others comes … network as a platform (NaaP). You are feeling very sleepy. Source: Gigaom • FARMERS’ MARKET EFFECT / • noun. Real estate prices near farmers’ markets are 26 percent higher than elsewhere in Britain. And if you close on a house, the owners will throw in a sack of partially bruised heirloom apples. Source: Zoopla SIBAL EXPENSES / • noun. South Korean wage slaves are indulging…

1 min
out of one, many

The production process starts before you even have a prototype. Nimb founder and CEO Leo Bereschansky says his first prototyper “had good engineers, but when it came to putting the product on a production line in China, they needed help.” To partner with a manufacturer you can count on, consider the following. THINK SCOPE A newer or smaller manufacturer may be more willing to meet your unique needs. “Pick one motivated enough that a successful product will impact its business, so it will make accommodations it might not otherwise,” says Lenny Lebovich of Pre Brands, seller of grass-fed beef products. • COME PREPARED “Your prototyper should be able to help you spec out every detail a manufacturer needs,” says Bryce Fisher of outerwear maker Ravean. “I do everything I can to have a firm…

4 min
what’s your (legal entity) type?

“CHOOSING A BUSINESS ENTITY is like looking into the crystal ball of your company’s future,” says Chip Wry, a member of Waltham, Massachusetts–based law firm Morse Barnes-Brown & Pendleton. Before you can move toward that future, you have to know the basics. We offer a primer, compiled with the help of Wry and other attorneys who have collectively brought thousands of companies through the process. Consult legal and financial experts before making any final choice—there are exceptions and caveats to every rule here. Do you think you’ll get sued? YES LLC, S corp, or C corp Each offers your personal assets a level of protection from legal action arising from your business activities. NO Sole proprietor You’re fully liable. Do you expect to operate at a loss for the first few years? YES LLC or…