Entrepreneurship 101: What does it take to launch a successful business?

This was a presentation I gave a week ago on January 24, 2011 in Newton, MA for the Brotherhood of Temple Shalom, in an event open to the community.  The presentation dealt with a number of questions relating to launching a product or service business, including: 

  • What is your entrepreneurial profile? Is entrepreneurship right for you?
  • Do you have the tools to launch a successful product business?
  • How does this differ for a service business?
  • Can you use consulting to get full-time employment?
  • What do you watch out for if you join or invest in a startup company?

The presentation dealt both with tools for the successful product business – plan, prototype, marketing, sales, IP and more – but also legal aspects of launching a successful product business including creation and choice of a legal entity – S or C corporation, LLC or LLP; the different forms of IP protection;  hiring employees, contractors, equity and cash compensation;  basic commercial contracts; and important issues in raising capital by issuing equity or debt finance.   The discussion of service business included selling payback, establishing your brand and reputation, billing and collection practices.

For outline of presentation, LINK: http://www.engelschultz.com/index.php/entrepreneurship-101-starting-a-successful-business/

Additionally, as Chairman of the Boston Entrepreneurs’ Network, I was recently interviewed by the Worcester Business Journal on issues of entrepreneurship.  To see the resulting article in MetroWest 495Biz published in December 2010, “The Best Laid Plans”, LINK: Download PDF

If you or a colleague are starting a business or joining or investing in a startup company and have questions or need legal help, please let me know.


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