Banner Day

We just received official notice that we are a Delaware corporation. You may refer to us from now on as FlashStarts, Inc. We also received our Federal Tax ID Number or EIN. So Monday, I can open a bank account. Which leads to the final, most important piece of good news. We have our first client. So, I'm now going home.
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CEO Types

Tom LeFevre, Intuit co-founder and member of The Angels' Forum, gave an interview a few years ago on evaluating good startup CEO's. While he didn't find clear markers for success, he identified six types of CEO likely to fail. His comments resonated with my own experience evaluating startups at the time and I hunted down the reference again. It still rings true. (more…)
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To-do lists

At some point yesterday, the number of tasks I needed to accomplish began exceeding my ability to remember them. Time for a list. There are many types of to-do lists: personal, group and institutional. A personal list can be anything from pen and paper to an excellent software program like Things. Group task management solutions can be anything from a whiteboard to web-based project management or MS Project. I greatly prefer a group task management solution that can also increase institutional value. Today, most companies are valued based on their intellectual property (IP). The more you as CEO can do…
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Inc/S/LLC/LLP ?

So far we have picked a market, defined a product or service offering and selected a name. Now we need a business entity. First, a disclaimer: I used to be a lawyer. We could spend hours discussing the benefits of the various legal entities and their infinite permutations. But honestly, this choice will have no impact on the success or failure of your startup. Your customers won't care. The cynic in me will tell you your accountant will likely prefer an S Corp. or an LLP and your attorney will prefer an LLC. You should consult with both, but lacking…
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Website

After selecting a business name and securing the domain name, the next item on the agenda is a website. For many startups, WordPress will be the best choice for your website. Unless the business is a website, you will be better off leveraging the extensive built-in capabilities of a Wordpress blog. WordPress and its plethora of plugins provides the easiest method for most businesses to start and develop an online presence. (more…)
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Day One: Shower

People find inspiration in the most unusual places. For me, the shower has always been very productive. This morning, between shampoo and cream rinse I decided to start a new business. At breakfast, I asked my wife, "What am I really good at?" Recognizing a trick question if ever there was one, she wisely replied, "Lots of things…", with rising intonation and a raised eyebrow.               (more…)
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