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QUESTION --- How do I find in which field I have the strongest leadership? (interest implied)=== === ===RELATED QUESTION --- Which books (see the end of this submission for three titles with brief descriptions) might prove to be the most helpful for someone like me (older than most) and/or for someone like a recent college graduate eager for work to do, to love, and to prosper from doing?=== === ===TESTING INTERESTS --- Some really good tests have been designed to help find the career field in which one's chosen work coincides with one or more strong interests.=== === ===INSIGHT --- Although I have musical APTITUDE and APPRECIATION, my INTEREST in DOING the WORK is not equally strong. Am I MOTIVATED? Yes. Motivated for what part of the music industry? Good question! Am I DISCIPLINED. Yes. Disciplined at what? A relevant question!=== === ===ANOTHER QUESTION---Suppose I have many interests (and I do). Is it possible to pursue --- to SUCCESSFULLY pursue --- all of them? No! Why not? Hey, I'm 75, not 25! So there's just not enough time to do everything I'd love to do --- and to do them well.=== === ===WITH THAT IN MIND --- Which of my interests will I (and/or which of my interests should I) pursue?=== === ===BACK TO THE QUESTION --- Which is the strongest interest?=== === ===EASY TO ANSWER? --- Or hard to tell?=== === ===INTERESTS --- Playing a banjo? Teaching leadership? Piloting a glider? Climbing Everest? Playing the guitar? Starting a network marketing company? Writing my first book?=== === ===THOSE AND MORE --- I love 'em all!=== === ===GUITAR --- With lessons and years and years of practice, could I play the guitar to perfection? Will I go down that path? Am I a highly motivated, disciplined, passionate person? Yes.=== === ===INTEREST--- But do I have the interest, and am I sufficiently, musically passionate to go down the path of playing the guitar as perfectly as possible?=== === ===SECOND INSIGHT --- two tests can help. They helped me a lot. The two are the (easy) Kuder Preference Test. Google those three words. And take the Clifton StrengthsFinder test. For the price of a book ("How Full Is Your Bucket"), a ticket to take a web-based test is found in the back of the book.=== === ===DO BOTH --- Having taken Kuder fifty years ago and Clifton about ten, I'm able to confirm the quality of results.=== === ===KUDER IS QUITE SOPHISTICATED --- At first glance, I concluded that my Kuder results were all over the place. They suggested that I pursue being a Mortician, Sales Manager or Teacher. Whah? That's what I thought until a (not-immediately-obvious) common denominator eventually dawned on me: those three are all purpose-driven people-contact jobs!=== === ===WUZZAT? --- That's me!=== === ===BIG SWITCH --- Administered by a friend who was a member of our nine-month management training program, I remained with that employer doing interesting, varied work for five years until I was assigned an H.R. position (which I declined I favor of sales work which is where I still am, forty seven years later, and lovin' it).=== === ===GEM OF A TEST --- The Clifton StrengthsFinder Test is perfect for its purpose. By blind luck, it crossed my path and (in many incredibly positive ways) is strongly influencing the fulfillment of my ultimate dream: helping 120,000,000 American households "Get Out of Debt, Save Money and Properly InsureTM" (their lives and incomes for those they love!)=== === ===MILLIONS HAVE BENEFITED --- Its creator, Donald O. Clifton and his grandson, Tom Rath, have helped millions know themselves better through test-participant discovery of their five dominant (of thirty four possible) strengths that drive what people do --- and how they do it.=== === ===PATENTED APPROACH --- Having written a lot about the tremendously useful advantages which emanate from enhanced self-knowledge, that test actually enabled a second useful discovery (oriented to visual Training and Education which I call "T&E") which I plan to file as my next patent.=== === ===GOOD BOOKS --- Here are several fascinating, easy, quick, fun reads:------------------------------------------------------------A. "The Five Dysfunctions of a Team" by Patrick Lencioni. KATHRYN PETERSEN, the new CEO of a poorly led company, has her hands full trying to shape up a team that's functioning very poorly. As a retired teacher with superb people skills (and eager for an entirely different professional experience), Kathryn's good. She's REALLY good. But the bunch she's now leading are truly a tough challenge!-----------------------------------------------------------Kathryn gently asked JEFF SHANLEY, the former CEO she replaced, if he would like to stay with the firm --- or find another opportunity. As company co-founder, JEFF didn't want to walk. So he graciously accepted Kathryn's offer for him to serve as Business Development V.P. A really good guy, Jeff's heart's always in the right place. He may be a lousy manager; but Kathryn knows he'll be OK at Biz Dev.-----------------------------------------------------------MICKEY BEBE ("Mickey" is Michele's nick-name) heads up Marketing. She has poor social graces but is a brand-building genius.-----------------------------------------------------------MARTIN GILMORE as the firm's Chief Technologist, is bright --- he's VERY bright --- but he's also an acerbic, sarcastic pita.----------------------------------------------------------JEFF RAWLINS ("J.R.") Sales V.P. is an agreeable guy who can produce --- but his follow-up is poor.-----------------------------------------------------------CARLOS AMADORE, Customer Support V.P. is a good listener. He's also pleasantly low maintenance, and trustworthy.-----------------------------------------------------------JAN MERSINO as CFO is excellent at cost control.-----------------------------------------------------------NICK FARRELL (I think of Nick as "Nick the Prick"), is Chief Operating Officer (COO). He's impressive on paper --- and arrogant. Thinking of himself as the best possible CEO, he's frustrated over not being Jeff Shanley's successor; but at least he's not a complainer.----------------------------------------------------------B. "Reinventing You" by Dorie Clark. As a columnist for "Mint" (India's second-largest business newspaper), Dorie's brilliance comes across very quickly. This book may well serve as a road map for the next phase of any career. As a branding expert, Dorie provides a step-by-step guide to help the reader assess unique strengths; develop a compelling personal brand; and insure that others recognize the powerful contribution people can make. Written simply, it's no surprise to me that at age fourteen (14), Dorie entered Mary Baldwin College for the Exceptionally Gifted; at eighteen (18) graduated Phi Beta Kappa from Smith College; and at twenty (20) received a Master of Theological Studies from Harvard Divinity School. For detail, go to www.dorieclark.com.-----------------------------------------------------------C. "Management: A Biblical Approach" by Myron Rush may enable readers to find their field of strongest interest. I say that with a feeling of confidence because a careful study of scripture (with this book as a guide) covers topics important to all employers; to all employees; and to those who serve society as independent contractors. To appreciate my claim, consider this book's fifteen chapter titles:1. Biblical Philosophy of Management2. Your Most Valuable Resource3. A Productive Work Environment4. The Team Spirit5. Good Working Relationships6. Planning7. Decision-Making & Problem Solving8. Successful Communication Skills9. When and how to delegate10. Time Management11. Attitude and Performance12 Performance Evaluation13 Handling Organizational Conflict14. An Effective Leadership Style15. The Christian Manager in Sociey----------------------------------------------------------All I can add to that is W-O-W for"Words Of Wisdom"----------------------------------------------------------Answer submitted by Robert Coyle

This answer may contain sensitive images. Click on an image to unblur it.While some industries are one-hit wonders, in and out just like that, the Porn Industry is one that will last longer than 30 seconds.One word. Camming, Camming, Camming.The porn industry like any major industry is an ever-evolving construct that can be transformed, modified, adapted to fit any one individual's need.With the expansion of technology and the endless wonders it has brought, many thought the porn industry was coming to a halt, but with the slow death of selling porn videos, out came the beginning of the ever-growing porn camming industry. The traditional means of obtaining income for the porn industry was that of previewing high-quality full-length reels and then selling that full-length video. This system is slowing becoming obsolete.With the conception of cell phones, the ease of recording with the touch of a finger birthed the presence of an inevitable end to safely securing videos; any one person had the capability of recording videos or finding a back door to getting free videos.What do people love to watch? What entices people the most? The people wanted something real and genuine. While people would never get tired of porn, people were sure getting tired of people "Acting." We all needed a little more foreplay in our life.Forever changing the porn industry was the revolution of webcamming online.Webcamming being: Performing live acts on camera vs. pre-recorded content. While the latter still strongly exists, the industry is making a big push for more channels, more models, and more money.Why would people ever want to become cammers?First and foremost the money. Camming is a lucrative business and is one that you can work from home. The amount earned can be endless. With an average of working 20 to 30 hours a week and grossing 50k to 100k a year and that's just a percentage of the mass. Many make way above those figures; it is truly up to the person to decide how much they want of themselves they want to put in.You have the independent freedom of working your own hoursA modest, steady revenue stream for incomeDeciding when and where to workVery easy to be anonymous with fake names and masks to hide your true identityA way to explore your sexuality like never beforeAnyone over 18 can legally do itYou can usually do it by yourselfMost Camming Websites offer Geo-blocking, Geo-Blocking being: When streaming, you have the option to elect to have your stream not viewable in the country, city, or state of your choosing. This will help calm your nerves about your family or anyone you might worry about seeing what you're up to.Cons of entering the Porn Industry?Possibly identification from friends, family, or even workWhat you post will most likely stay up forever even with laws like DMCA to protect the copyright of your videos, it is hard to enforce on such a massive platform such as the internet.DMCA policy (Digital Millennium Copyright Act); Protects infringement upon copyrighted material.A video reposted, on say Pornhub without permission, you can express your DMCA rights and request for the video to be taken down.Need more info, the link is below!https://www.copyright.gov/legislation/dmca.pdfThinking of working with a partner...?Draft up a Mutual NDA (Non-Disclosure Agreement) so that your business and your life is protected just in case your partner might want to say something down the line. This way the person cannot disclose any events that might have happened during your "relationship."http://RocketLawyer.com is the most accessible place to find all the documents you will ever need, also with endless amounts of help and answers to make sure you're protected.When working in the Adult Film Industry, you must be 18 in accordance to The Child Pornography Prevention Act of 1996 (CPPA) which prevents the act of filming anything pornographic with individuals under the age of 18. A policy which is heavily regulated.For all websites and studios, you work for, a request for proper identification will be asked for, if not walk away, if not run away. This business is shady, and you will want no part in it. Websites will usually ask for a picture of your ID and a picture of you holding the ID to match the two together.You can also write up a business agreement so that your money and your relationship is protected; official legal documentation will always keep you one step ahead. Better to be safe than sorry.You will also need a written agreement stating who owns the content and if it’s ok for you or your partner to sell it elsewhere.Check with your states policy and regulations to see if your able to do camming legally. Some states do not allow the filming of porn.Paying TaxesIf you are in the US and making over $400 in a year, you will have to file taxes.When you work as a cammer, you will classify as an Independent Contractor and your receive a 1099 for whatever camming website or studio you decide to work for. In any event, you are worried about your taxes, remember as filing as an Independent Contractor your money will not be taken out of your paycheck for taxes, so it's up to you to be responsible and have a cushion to fall on. Saving 20%-30% of each of your paychecks will take care of those troublesome agents at the IRS from coming after you guns a blazing. The last thing you need in your life is an Audit.If you don't know how to handle your taxes correctly or in any way worried then go with a CPA ( Certified Public Accountant). The CPA will make your life easier for almost close to nothing for what you're going to start producing.You could form an LLC and become an employee for your own business, which will provide you with a wide assortment of benefits and tax reliefs.Being your own employee gives the ability to create things like...Health plans (except in Hawaii)Retirement plansDental or vision plansPaid vacations, holidays or sick leaveLife insurance plansThere any many write-offs for a cammer, but which are right for you?Most of these write-offs will have to be strictly used for camming otherwise your entering a grey area.Here are some you can write off...RentUtilities: internet, water, heat, electricity, phoneFurnitureTravel expenses ( gas, hotel room charges, flights )Equipment; such as camera, webcams, and lightsMailing supplies and costs; If any items are shipped to customersWhile there are the plenty of write-offs available, there are some which you cannot write off.Toys and LubricantsWhile some people do, it is hard to justify to the IRS that these are merely used for camming and not personal use.Lingerie and other Apparel, just the same, it is a grey area with objects such as these.Being better safe than sorry would be wise.Work TitlesDon't stray too much from the norm, use titles like "Entertainer" that keep your business professional and broad.Where can you sign up?Listed as some of the most profitable and safest websites are...Chaturbate - Free Adult Live Webcams!Camsoda: Free Cams, Live Sex, Pornstar Sex Chat, and Adult Cam GirlsLive Jasmin: Let the Hottest Live Webcam Girls Seduce YouNow more then ever is the porn industry is booming, record numbers are watching porn. Technology has made it extremely accessible to watch porn, any porn, any fetish one might have. While this has its benefits, it also has its consequences. It's up to you to determine if you want to become part of the growing industry. Big Data companies like “Nielsen” are showing its results, and people are watching porn now more than ever. Nows the time to strike gold.My name is T. J. Depesa and you can find more great articles and similar content on my blog:https://medium.com/@t-j-depesa?source=post_page-----289e0488a803--------------------------------This answer is not a substitute for professional legal advice. This answer does not create an attorney-client relationship, nor is it a solicitation to offer legal advice.

Starting a business entails understanding and dealing with many issues legal, financing, sales and marketing, intellectual property protection, liability protection, human resources, and more. But interest in entrepreneurship is at an all time high.Understand the Commitment and Challenges Involved in Starting a Business:· Coming up with a great and unique product or service· Having a strong plan and vision for the business· Having sufficient capital and cash flow· Finding great employees· Firing bad employees quickly in a way that doesn’t result in legal liability· Working more than you expected· Not getting discouraged by rejections from customers· Managing your time efficiently· Maintaining a reasonable work/life balance· Knowing when to pivot your strategy· Maintaining the stamina to keep going even when it’s toughProtect Your Personal Assets by Forming the Business as a Corporation or LLC:· Always use the corporate name· Always use proper signature· Follow all corporate formalities· Make sure to keep funds separate· Make sure to keep taxation separate· All transactions made by the corporation should be clearly separate from any individual transactions.Come Up With a Great Name for Your Business· Avoid hard-to-spell names.· Don’t pick a name that could be limiting as your business grows.· Conduct a thorough Internet search on a proposed name.· Get a “.com” domain name (as opposed to “.net” or another variant).· Conduct a thorough trademark search.· Make sure you and your employees will be happy saying the name.· Come up with five names you like and test market the name with prospective employees, partners, investors, and potential customers.Focus on Building a Great Product—But Don’t Take Forever to LaunchWhen starting out, your product or service has to be at least good if not great. It must be differentiated in some meaningful and important way from the offerings of your competition‎.Everything else follows from this key principle. Don’t drag your feet on getting your product out to market, since early customer feedback is one of the best ways to help improve your product.Of course, you want a “minimum viable product” (MVP) to begin with, but even that product should be good and differentiated from the competition.Build a Great Website for Your Company· Check out competitor sites.· Start by sketching out a template for your site.· Come up with five or six sites you can share with your web site developer to convey what you like.· Be sure the site is search engine optimized (and thus more likely to show up early on Google search results).· Produce high-quality original content.· Make sure your site is optimized for mobile devices.· Make sure the site loads quickly.· Keep it clean and simple; visual clutter will drive visitors away.· Make sure you have a Terms of Use Agreement and Privacy Policy (and comply with the European GDPR rules).· Make the navigation bars prominent.· Obtain and use a memorable “.com” domain name.· Make the site visually interesting.· Make sure it’s easy for site visitors to contact you or buy your product.Perfect Your Elevator Pitch· Start out strong.· Be positive and enthusiastic in your delivery.· Remember that practice makes perfect.· Keep it to 60 seconds in length.· Avoid using industry jargon.· Convey why your business is unique.· Pitch the problem you are solving.· Invite participation or interruption by the listener—this shows they are interested and engaged.Make the Deal Clear With Co-Founders· How is the equity split among the founders?· Is the percentage of ownership subject to vesting based on continued participation in the business?· What are the roles and responsibilities of the founders?· If one founder leaves, does the company or the other founder have the right to buy back that founder’s shares? At what price?· How much time commitment to the business is expected of each founder?· What salaries (if any) are the founders entitled to? How can that be changed?· How are key decisions and day-to-day decisions of the business to be made? (by majority vote, unanimous vote, or are certain decisions solely in the hands of the CEO?)· Under what circumstances can a founder be removed as an employee of the business? (usually, this would be a Board decision)· What assets or cash does each founder contribute or invest into the business?· How will a sale of the business be decided?· What happens if one founder isn’t living up to expectations under the founder agreement? How will it be resolved?· What is the overall goal and vision for the business?· If one founder wants to leave the business, does the company have the right to buy back his or her shares? At what price?Obtain a Tax IDIn most instances, you will need to get a tax ID from the IRS for your company. This is also known as an “Employer Identification Number” (EIN), and it’s similar to a Social Security number, but for businesses. Banks will ask for your EIN when you open a company bank account. You can get an EIN online through the IRS website.Set Up a Good Accounting and Bookkeeping SystemYou will need to set up a bookkeeping/accounting system to keep track of your finances, income, expenses, capital expenditures, EBITDA, profit and loss, etc. This is important in order to understand your business’s cash flow situation and also for tax-filing purposes.Perform a Comprehensive Reference Check Before You Hire an Employee· Verification of job titles and dates of employment· Verification of educational degrees and dates of attendance at schools· Verification of starting and ending salary· Verification of prior job role and responsibilities· Inquiry as to why the applicant left the prior employer· Conversations with prior supervisors as to the applicant’s strengths and weaknesses· Inquiry as to the applicant’s ability to get along well with other employees and customers· Inquiry as to the applicant’s ability to take on the new role· Inquiry as to punctuality or absenteeism issues· Reference checks with other people not listed by the applicant as a referenceUse a Good Form of Employee Offer Letter or Employment Agreement· The job title and role of the employee· Whether the job is full time or part time· When the job will commence· The salary, benefits, and any potential bonuses· Whether the position is “at will” employment, meaning either party is free to terminate the relationship at any time without penalty (although employers may not terminate employees for legally prohibited reasons, such as for age discrimination or retaliation from sexual harassment allegations, etc.)· Confirmation that the “at will” agreement may not be changed unless signed by an authorized officer of the company· Confirmation that the employee will need to sign a separate Confidentiality and Invention Assignment Agreement (described below)· If the company chooses, a statement that any disputes between the parties will be resolved solely and exclusively by confidential binding arbitration (also discussed below)· Any stock options to be granted to the employee and the terms of any vesting (details usually laid out in a separate Stock Option Agreement)· The supervisor to whom the employee will report· Protective language stating that the offer letter constitutes the entire agreement and understanding of the parties with respect to the employment relationship, and that there are no other agreements or benefits expected.Make Sure All Employees Sign a Confidentiality and Invention Assignment Agreement·The employee may not use or disclose any of the company’s confidential information for their own benefit or use, or for the benefit of others, without authorization.· The employee must promptly disclose to the company any inventions, ideas, discoveries, and work product related to the company’s business that they make during the period of employment.· The company is the owner of such inventions, ideas, discoveries, and work product, which the employee must assign to the company.· The employee’s employment with the company does not and will not breach any agreement or duty that the employee has with anyone else, nor may the employee disclose to the company or use on its behalf any confidential information belonging to others.· Upon termination of employment, the employee must return any and all confidential information and company property.· While employed, the employee will not compete with the company or perform any services for any competitor of the company.· The employee’s confidentiality and invention assignment obligations under the agreement will continue after termination of employment.· The agreement does not by itself represent any guarantee of continued employment.Consider the Steps You Should Take to Protect Your Intellectual Property· Patents· Copyrights· Trademarks· Service Marks· Trade Secrets· Confidentiality Agreements· Confidentiality Agreement for Employees and Consultants· Terms of Service and Privacy PolicyBecome a Strong SalespersonIf the business is to become successful, you must become a great salesperson. You are going to have to learn how to “sell” your business not only to customers but also to prospective investors and even to potential employees.Understand Financial Statements and Budgets· What are the company’s three-year projections?· What are the key assumptions underlying your projections?· How much equity and debt has the company raised, and what is the capitalization structure?· What future equity or debt financing will be necessary?· How much of a stock option pool is being set aside for employees?· When will the company get to profitability?· How much “burn” (losses) will occur until the company gets to profitability?· What are your unit economics?· What are the factors that limit faster growth?· What are the key metrics that the management team focuses on?Market Your Business Like Crazy· Learn the fundamentals of SEO (search engine optimization) so that people searching for your products and services online might find you near the top of search results.· Use social media to promote your business (LinkedIn, Facebook, Twitter, Pinterest, etc.).· Engage in content marketing by writing guest articles for relevant websites.· Issue press releases for any significant events.· Network continually.Use Consultants and Freelancers to Supplement Your TeamAt the early stages of your startup, you will likely want to have a small employee team to minimize expenses. A good way to fill in for specialized expertise is to use freelancers or consultants.That way, you avoid taking on employee costs and benefits payments. And there are a variety of sites that can help you access freelancers, such as Freelancer.com, Guru.com, and Upwork.com.Have a Great Investor Pitch DeckPitch Deck Do’s· Do include this wording at the bottom left of the pitch deck cover page: “Confidential and Proprietary. Copyright by [Name of Company]. [Year]. All Rights Reserved.”· Do convince the viewer of why the market opportunity is large.· Do include visually interesting graphics and images.· Do send the pitch deck in a PDF format to prospective investors in advance of a meeting. Don’t force the investor to get it from Google Docs, Dropbox, or some other online service, as you are just putting up a barrier to the investor actually reading it.· Do plan to have a demo of your product as part of the in-person presentation.· Do tell a compelling, memorable, and interesting story that shows your passion for the business.· Do show that you have more than just an idea, and that you have gotten early traction on developing the product, getting customers, or signing up partners.· Do have a soundbite for investors to remember you by.· Do use a consistent font size, color, and header title style throughout the slides.Pitch Deck Don’ts· Don’t make the pitch deck more than 15-20 slides long (investors have limited attention spans). If you feel you need to add more information, include it as an appendix.· Don’t have too many wordy slides.· Don’t provide excessive financial details, as that can be provided in a follow-up message.· Don’t try to cover everything in the pitch deck slides. Your in-person presentation will give you an opportunity to add and highlight key information.· Don’t use a lot of jargon or acronyms that the investor may not immediately understand.· Don’t underestimate or belittle the competition (and never say “we don’t have any competition”).· Don’t have your pitch deck look out of date. You don’t want a date on the cover page that is several months old (that is why I avoid putting a date on the cover page at all). And you don’t want information or metrics in the deck about your business that look stale or outdated.· Don’t have a poor layout, bad graphics, or a low-quality “look and feel.” Think about hiring a graphic designer to give your pitch desk a more professional look.Drive Traffic to Your Website· Pay Google, Bing, Yahoo, or other search engines to send you traffic (such as through the Google Adwords program).· Build a great site with lots of high-quality, original content that is search engine optimized.· Have a smart social media plan to drive traffic from Facebook, Twitter, LinkedIn, and other free social media sites.· Get links to your site from high-quality sites.Make Sure Someone Hasn’t Already Invented Your Great New Idea· Do a Google search on the keywords associated with your invention.· Do a search online of the U.S. Patent and Trademark Office at United States Patent and Trademark Office.· If nothing comes up and you want to get a patent for your idea, hire a patent lawyer.Don’t Go Overboard on a Business PlanIt’s useful to come up with a business plan to think through what you want to do for the development of the product or service, marketing, financial projections, and more. And you should then get input from trusted business and finance advisors. But don’t go overboard with a 50-page business plan.Secure Capital to Finance Your Business· Personal funds· Credit cards· Friends and family· Angel investors (see Angel Investing: 20 Things Entrepreneurs Should Know)· Crowdsourcing sites such as Crowdfund Innovations & Support Entrepreneurs and Kickstarter· Bank loans/SBA financings/online lenders· Venture capitalists· Equipment loan financingDetermine Which Permits, Licenses, or Registrations You Will Need for Your Business· Permits need for regulated businesses (aviation, agriculture, alcohol, etc.)· Sales tax license or permit· Home-based business permits· City and county business permits or licenses· Zoning permit· Seller’s permit· Health department permits (such as for a restaurant)· Federal and state tax/employer IDsSet Up Appropriate Books and Records for Your Business· Financial statements (P&L, balance sheet, cash flow)· Employee records· Board and stockholder minutes and consents· Stock and options ledger· Tax filings and records (federal, state & local income, sales and property taxes)· Secretary of State filings (Certificate of Incorporation, annual filings, etc.)· Invoices & contracts· Bank accounts· Creditor recordsProperly Insure Your StartupWhile shopping for insurance, you will want answers to these types of key questions:· What are the deductibles?· Are the coverage limits high enough?· What items or occurrences are excluded from coverage?· Are there any gaps in the coverage?Here is a list of the types of insurance that may be appropriate for your business:· General liability insurance· Product liability insurance· Professional liability insurance· Property insurance· Worker’s compensation insurance· D&O (directors & officers) insurance· Health insurance for employees· Business interruption insurance· Commercial auto insurance· Data breach/cybersecurity insurance· Key man life insuranceDetermine How to Divide Equity Among the Startup’s Co-Founders· The relative value of the contributions of the co-founders· Vesting dependent upon continued participation in the business (you don’t want to give away 25% of the company to someone who leaves after a few months)· The amount of time to be committed to the business· The cash compensation to be paid as an employee· Whether the co-founders will be contributing cash as an investment in the business· Whether one person wants to maintain control over decision-makingUnderstand These Key Points About Seeking Venture Capital Financing· Specific industry sectors (software, digital media, semiconductor, mobile, SaaS, biotech, mobile devices, etc.)· Stage of company (early-stage seed or Series A rounds, or later-stage rounds with companies that have achieved meaningful revenues and traction)· Company location (e.g., San Francisco/Silicon Valley, New York, etc.)Pay Attention to Your Business Contracts· Describe all obligations they are expected to fulfill.· Describe all obligations they expect the other party (or parties) to fulfill.· Limit any liabilities.· Set parameters, such as a time frame, in which the terms of the contract will be met.· Set terms of a sale, lease, or rental.· Establish payment terms.· Clearly establish all of the risks and responsibilities of the parties.The key contracts that a startup should have as its own form of “standard contract” include:· Sales or service agreement· License agreement· Offer letter to employees· Consulting agreement with any independent contractors (you want to make sure that you will own the intellectual property rights for anything they develop for your business)· Confidentiality and Invention Assignment Agreement for employees and independent contractors· Non-disclosure agreementIf You Plan to Lease Office Space for Your Business, Focus on These Key Issues· Length of lease term· Tenant improvements· Rent and rent escalations· Repairs, improvements, and replacements· Assignment and subletting· Try to avoid one-sided lease provisions.· Consider using a tenant brokerThoroughly Research Your Competition· Who are the company’s principal competitors?· What traction have those competitors obtained?· What gives your company the competitive advantage?· Compared to these other companies, how do you compete with respect to price, features, and performance?· What are the barriers to entry in your market?If You Are Seeking Angel Investing Financing, Know These Important Points· The quality, passion, commitment, and experience of the founders· The market opportunity being addressed and the potential for the company to grow to become very big· A clearly thought out business plan and early evidence of early business traction· Interesting intellectual property or technology· A reasonable valuation for the company· The likelihood of the company being able to raise additional financing in the future if progress is madeAngel investors will want to initially see the following from a startup:· A clearly articulated elevator pitch for the business· An executive summary or investor pitch deck· A prototype or working model of the company’s product or service· Early adopters, customers, or partnersThere are a variety of ways to find angel investors, including:· AngelList· Venture capitalists· Investment bankers· Lawyers· Accountants· Other entrepreneurs· Crowdfunding sites like Kickstarterand IndiegogoConsider Adopting a Stock Option Plan to Attract and Motivate Employees· XYZ, Inc., hires employee John Smith.· As part of his employment package, XYZ grants John the option to acquire 80,000 shares of XYZ’s common stock at 25 cents per share (the fair market value of a share of XYZ common stock at the time of grant).· The options are subject to a four-year vesting period with one-year cliff vesting, which means that John has to stay employed with XYZ for one year before he gets the right to exercise 20,000 of the options. The remaining 60,000 options then vest at the rate of 1/36 a month over the next 36 months of his employment.· If John leaves the company or is fired before the end of his first year, he doesn’t get any of the options.· After his options are “vested” (become exercisable), he has the option to buy the stock at 25 cents per share, even if the share value has gone up dramatically.· After four years of continued employment, all 80,000 of his option shares are vested.· XYZ becomes successful and goes public, and its stock trades at $20 per share.· John exercises his options and buys 80,000 shares for $20,000 (80,000 x 25 cents).· John turns around and sells all 80,000 of his shares for $1.6 million (80,000 x the $20 per share publicly traded price), making a huge profit of $1,580,000.Focus on Offering Exceptional Customer ServiceCompanies such as Zappos and Virgin America became hugely successful because they focused on providing excellent customer service and support. You want your early customers to give referrals and sing your praises to their friends and colleagues.Hire an Experienced Startup Attorney· Incorporate· Draw up contracts with any co-founders· Prepare key agreements for the business· Set up a stock option plan for employees· Guide you through potential HR landmines· Prepare protective offer letters to prospective employees· Help you negotiate terms with prospective investors· Limit your potential legal liabilities· Protect your ideas and inventions (through copyrights, patents, and non-disclosure agreements)Get Comfortable With Public SpeakingThe ability to communicate effectively can be critical to landing customers, inspiring employees, and pitching to investors to raise capital. Most people are not very good at public speaking and many are even afraid of it.You must strive to overcome this fear. Consider working with a public speaking or business coach to improve your public speaking skills.There was a ton of information in this article, so if you have any questions, just leave me a comment below, please do upvote, share and support.Thank you