Starting Up

Joe Hadzima, Jr. '73, SM '77, MIT Enterprise Forum Chairman Emeritus, and Senior Lecturer at the MIT Sloan School of Management, wrote a series of columns for the Boston Business Journal called "Starting Up." Each article focuses on a topic of recurring interest to persons who are starting and growing new ventures.


Board of Directors and Advisors

Outside Directors: Do You Need Them and Where to Find Them
The legal requirement for a Board of Directors

Don't Bore the Board of Directors (How to Use a Board Effectively)
Some practical tips on getting the most from your Board of Directors

A Little Advice on Advising: Three Models of Success Will Help
Describes how to get, compensate and effectively use outside advisors to your venture


Seven Characteristics of Highly Effective Entrepreneurial Employees
How to identify "right stuff" employees

Employment Pitfalls Part 1
Legal issues in employing and retaining your most valuable assets: independent contractors, offer letters, non-competition agreements

Employment Pitfalls Part 2
Government contracts, overtime, immigration law, employee handbooks

Do You Still Have the Right People (in the Right Job)?
Will the people who started with you make it to the IPO?

How Much Does an Employee Cost?
The "non-direct salary" cost components; some metrics on figuring the cost of feeding and caring for employees

Legal Forms of Doing Business

Subchapter S: Some Myths, Realities and Practical Considerations
What is a Subchapter S Corporation and why/when should you use it?

Is a LLC For Me?
What is a Limited Liability Company and is it appropriate for a technology growth company?

Stock and Equity

Thinking About Valuation
Pre-money and post-money valuation—some techniques for valuing a venture

Dilution: A Primer of Stock Vocabulary
A primer on stock vocabulary relating to dilution

Take Stock When Using Stock in Trade Part 1: Stock Basics
Covers basic terminology and concepts about stock and about equity compensation of employees

Take Stock When Using Stock in Trade Part 2: Stock and Options
Some considerations for using stock and options

Employees' Stock Reward: How Much Stock Do They Deserve?
What is appropriate stock compensation for your employees?

Steer Clear of the Tempest: A Startup Tragedy in Three Acts
This column discusses the importance of securities laws and how one company's failure to comply with these laws may have caused the company to fail itself

WHIPLASH: The Pitfalls of Acceleration
Should stock and option vesting accelerate when a company is acquired or goes public?

Financing - Venture Capital

All Financing Sources Are Not Equal
There are differences among financing sources; pick the one that is right for you

What Are the Terms? Part 1: A Preferred Return
First of a three-part series on the terms of venture capital financings

What Are the Terms? Part 2: Investors Need Some Control After Their Checks Are Cashed
Part two in a three-part series on the terms of venture capital financings

What Are the Terms? Part 3: Run, Don't Walk, to the Exit
Part three in a three-part series on the terms of venture capital financings

General Advice to Entrepreneurs

Success is No Day at the Beach
Take some time to think about your personal goals—you can't figure out how to get somewhere in your business if you don't know where you want to go

The Foundation of Success: Build Value Every Step Along the Way
Plan your work and work your plan to achieve specific goals which enhance the value of your company

The Business Plan
Lessons from the MIT $50K Business Plan Seminar Series

Pinpointing That Critical Entrepreneurial Spark
What makes a successful entrepreneur?

Paying the Founding Piper: It's Not as Simple as Writing a Check
How can you get paid (other than in stock) for your "sweat"

Ten Commandments of How to Work Effectively With Lawyers
Practical tips about how to use your lawyers effectively

Intellectual Property

Questions of Copyright: Another Weapon in the Property Arsenal
Discusses basic concepts of copyright protection

The Importance of Patents: It Pays to Know Patent Regulations
What is a patent, how do you get one, and what value are they?

Of Kleenex and Cheez Whiz: Trademarks Are Nothing to Sneeze At
Practical tips on trademarks

What Do Things Cost?

Adding Up All the Costs: How Accounting Services are Priced
Why do you need an accountant and what do accounting services cost?

The Costs of Hunting Heads
What does it cost to recruit someone?

How Much Does an Employee Cost?
Some metrics on figuring the cost of feeding and caring for employees

Don't I Know You From Somewhere? The Price of Fame
What does public relations cost?

Putting a Leash on Your Lease
Basic points to think about in signing a real estate lease for your business 
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