Category Archives: Small Business

Some Big (and not so big) Business Tactics Startups Should Avoid

Here’s a list of some things big businesses do – actually it’s the people in them – and what to avoid when you’re starting your company:

  • Use employees like toilet paper – don’t get involved with them and turn them over regularly – this gives the company/you a horrible reputation, and disincentives employees – disgruntled employees make “mistakes” and work gets sloppy. I was at an ad agency once where one client’s logo found its way onto another client’s ad.
  • Tell your employees how great the company is doing while underpaying them – the bosses get all the bonuses and the employees struggle.  Results:  see disgruntled employees above.
  • Ignoring a product issue or trying to cover it up.  Sooner or later the truth comes out and the company gets in trouble.  Use J&J’s textbook example of how they handled the Tylenol crisis as the ethical way to proceed — http://www.aerobiologicalengineering.com/wxk116/TylenolMurders/crisis.html
  • Purposely cut lines of communication within the company or illegally raising capital. Management, board members, and investors and sometimes law firms are left out of an important communications loop.  Sooner or later the culprits get caught. Ultimately it’s at the company’s expense.  See “A tale of how successfully raising capital leads to bankruptcy” below.
http://www.newyorklawjournal.com/id=1202597030328?back=law
http://www.newyorklawjournal.com/id=1202597030328?back=law

When in doubt here’s a simple rule to follow:  The Golden Rule.  Sounds trite but when you treat your employees how you would like to be treated, then you develop a great team. When I have consultants working on projects with me, I pay them before they bill me.  This instills appreciation and loyalty and guess what?  When I have a project, there’s never a wait or conflict – they are there for me every time.  And they turn out their best work for me and my clients.

Sandra Holtzman teaches CEO 035: Licensing.
She is the author of Lies Startups Tell Themselves to Avoid Marketing.

Funding

This chart is especially good for those of you in fashion tech but should provide valuable insight to all fashion designers on where the funding dollars are going.

http://blog.pitchbook.com/vc-at-the-intersection-of-fashion-and-tech/

Datagraphic by Jennifer Sam
Click for the article: VC at the intersection of fashion and tech. Datagraphic by Jennifer Sam

 

Sandra Holtzman teaches CEO 035: Licensing.
She is the author of Lies Startups Tell Themselves to Avoid Marketing.

Licensing Class

My licensing class is coming up shortly.
https://epay.fitnyc.edu/C20737_ustores/web/product_detail.jsp?PRODUCTID=4522&SINGLESTORE=true

If you are starting a business, have a business, or know someone starting a business, this class will provide ideas on how to grow a business by licensing.  Also how to protect your business.

Guest speakers will be there from the fashion industry.

In the meantime, if anyone has any licensing questions please ask them through the blog or at this email:
sholtzman@holtzmancom.com
All queries will be answered through the blog.

Sandra Holtzman teaches CEO 035: Licensing.
She is the author of Lies Startups Tell Themselves to Avoid Marketing.