By Ed McLaughlin and Wyn Lydecker You have probably dreamed about and worked toward launching and growing your company for years. You know it inside and out, and it is as much a product of you as a child. Friends and family probably helped you figure out what distinctive competence you have, and you harnessed [...]
By Ed McLaughlin and Wyn Lydecker There is a lot of Crowdfunding buzz in the media, particularly in entrepreneurial forums. It is portrayed as the new alternative for fundraising – a form that is more democratic than traditional venture funding or small business loans. Unlike raising money from venture capitalists, crowdfunding enables you to [...]
Originally published on LinkedIn By Ed McLaughlin and Wyn Lydecker Your decision to build a profitable business is directly proportional to your ability to take charge of the money. Taking control of your money is a commitment to take responsibility for all of the following financial disciplines: Developing a realistic budget and operating the business [...]
By Omar Douglass Contributing Writer for The Purpose is Profit Blog Money is a tool. If used correctly and efficiently, it can accelerate the success of your business – and your life. I have heard it said, “When you ask for money, you get advice. But when you ask for advice, you might get money.” [...]
By Ed McLaughlin and Wyn Lydecker Disruption is a dream come true for entrepreneurs who catch the market by surprise and interrupt the status quo. Forbes staff writer Caroline Howard says, “Disruption takes a left turn by literally uprooting and changing how we think, behave, do business, learn and go about our day-to-day.” Let’s explore [...]
Michael Phelps By Ed McLaughlin and Wyn Lydecker Startups founded on passion can miss the mark if they are not also established on the bedrock of distinctive competence - your set of proven skills, knowledge, and expertise. I bootstrapped multiple startups. The first one, USI, was founded using my distinctive competence [...]
Previously published on LinkedIn as "Develop and Deliver a Superior Value Proposition - Profit Principle #2" By Ed McLaughlin and Wyn Lydecker A superior value proposition captures the essence of your product’s unique benefits and how it solves a vexing customer problem, meets a critical need, or relieves severe pain better than anything else in the [...]
Jeff-Clark-Surfing-Mavericks-2009-Photo-by-Doug-Acton By Omar Douglass Contributing Writer for The Purpose is Profit Blog My dad always says, “Wisdom comes with experience, whether you like it or not.” This adage was crystalized for me recently while attending a one-hour workshop for entrepreneurs interested in the New York City startup scene. The free class, [...]
Originally published on LinkedIn By Ed McLaughlin and Wyn Lydecker This text is excerpted from Chapter 10 of our book, The Purpose Is Profit. Here, I'm going to talk about Profit Principle #3: Don't Start Up Until... It is only natural that you struggle with the desire to start up knowing you do not have all the [...]
By Omar Douglass Contributing Writer for The Purpose is Profit Blog I recently came across a presentation by JD Alois of Crowdfund Insider featuring a study which claimed that investment crowdfunding is (now) the best source of startup funding for women and minorities. Written by Habib Jamal, Sherwood Neiss, and Jason Best of Crowdfund Capital Advisors [...]