We are quite familiar with the term “inner calling” – it has a streak and a pull of its own. Intrapreneurship is one element which is supposed to lead to path breaking organizational development from within an enterprise. This particular concept is picking up steam because people are realizing that it is a lot easier to develop a start-up, while already on the inside at an established company. And while entrepreneurs are in the spotlight right now, that will probably change once the public sees just how talented intrapreneurs can be. However, both initially and in the long run you should remember that this art in business is delicate and tends to attune itself with both conforming and conflicting interests.
While the idea of becoming an intrapreneur can seem like an easy route to pursue toward success, you still have to know how to approach it so that you avoid mistakes that others have faced along the way.
Studious readers of our MyCorp blog may recall that, back in June, we covered non-profit corporations in a ‘Business Basics’ post, and answered a few simple questions like what a non-profit corporation was and how to form one. This week, we felt it would be a good idea to tackle one of the most often asked questions about non-profits – how do you run a successful non-profit corporation? Now, it’s impossible to distill what makes a non-profit successful into a 700 word post, but we can point out a few things you can do to help your non-profit succeed.
Draft, and adhere to, a solid mission statement
When you form a non-profit corporation, you have to clearly identify your mission. What, exactly, do you hope to accomplish with this organization? Who do you hope to help? What type of a vision do you have? You may have a few fuzzy answers to these questions running through your head, but you have to absolutely solidify every idea and goal you have before you ever hope to begin raising money. If your ‘elevator pitch’ is a jumbled mess of ideals with no, clear, actionable goals, no one will want to donate to your non-profit. The IRS will also review your mission statement when they decide whether or not to grant your group tax-exempt status.
You’re bound to make more than five mistakes as a neo-entrepreneur (young and fresh entrepreneurs who are less experienced than their older, more established counterparts), especially during the startup years. Entrepreneurship means going through a lot of uncharted territory and interestingly enough, many of these mistakes stem from characteristics that make a person an entrepreneur.
With 2013 quickly approaching, how many resolutions will you imagine compiling for your business over this next month? And exactly how many of them will have fallen off the radar by February 1st? Resolutions have a low success rate, and there’s a good reason for that, they are nothing but ideas. Refurbish your resolutions so they won’t fail – turn them into actionable goals!
Here are 5 reasons why your company’s resolutions may fail unless you turn them into goals: Continue reading →
Starbucks, everyone’s favorite coffee mega-chain, made an announcement recently that had a few people scratching their heads; they are going to try and offer alcohol in one of their Portland stores. People don’t typically look for a shot of whiskey to go with their double shot no-foam latte, at least not publically. So coffee consumers all across the country are wondering what Starbucks is up to. They have already tried the model in Seattle, with some success, and some analysts are predicting that Starbucks is looking to expand into sit-down dining.
This raises an interesting question that many businesses face after a while; when do you decide to expand to other products? While selling booze may not exactly fit in your business model, there are plenty of linkable items that make sense together. A T-shirt company could expand to sell jeans, or a soda company may expand to sell water. Before making this type of change, you should ask yourself five key questions about the your plans and your company. Continue reading →