Are you looking to start your own business and are wondering where to get the capital? I bet you never thought it was possible to invest your retirement into your own startup. This is very possible and it is done through what we call a mysop. This is done with a self directed 401k and through a C-Corp. If you are looking at this option or want more information please contact us today and our professionals will inform you and guide you on how to invest your retirement into your own startup.
If you already have set up your msyop account and are doing the best you can to make sure your startup succeeds we have some great tips to help you succeed as a startup. These tips come straight from one professional who knows how to take a startup and make it a very, very powerful company. You may have heard of this man as he is the owner of the Dallas Mavericks and goes by the name of Mark Cuban.
Mark Cubans 12 Tips For A Startup To Succeed
- Only start the company if it is something you are obsessive about and love.
- Exit strategies means that you aren't obsessed about it enough and probably shouldn't start it.
- Hire those who have a passion and love for your company.
- Sales cures all. If you can be good at something, strive to be good at sales. Make sure you know how your company actually makes money and then know how to actually make the sales.
- Know your core competencies and make sure they are simply great. When it comes to your core competencies make sure you strive to be the best at them. To be the best you have to have the best and you have to get the best. Outside your core competencies, hire people that fit your culture but aren't as expensive to pay.
- Do lunch. It gives you some time to actually get out and talk. If you and your team truly like your job you will find a way to work as much as possible. Lunch is another great way to talk work with the team without it being so worky.
- Get rid of the offices. Open offices keep everyone in tune with their surroundings and it helps to keep a high energy. Nothing should be private in a startup, except the bathroom. This is also a great way to stay clear of hiring exceutives who aren't completely about the success of the startup. If the person demands a corner office, to fly first class or a personal secretary, they aren't for you. If they won't go on sales calles, they aren't for you. You want someone that will help inspire the company not pollute it.
- Use what you know. It is important to take advantage of the technology that you know. If an employee is used to a Mac, get them a mac. If they are used to a Windows PC, get them a Windows PC.
- Keep it simple and flat. Managers in a startup aren't good. Managers reporting to managers will only push your startup to fail. If you get beyond the startup phase, if you have managers reporting to managers, it just creates politics.
- Don't buy swag. It isn't worth it. Only employees should be wearing swag. In general, nobody wants to wear your companies swag, especially if they don't even work there.
- Don't hire a PR firm. This can be done easily yourself. If you are obsessed about your startup then you will be obsessed about the culture. You are more than likely already reading the publications that you should be listed on. YOu are already watch the shows, podcasts or visit sites that you want to be listed on. Send them an email. They would rather be hearing from the founder instead of a PR worker.
- Make the job fun for all employees. Whatever you do make it a place that everyone wants to come and work at. If something big happens, celebrate it. Share the wealth, it does wonders to the workers. That could mean handing out $100 bills to salespeople when record sales are broken. Whatever you do make it fun and exciting for everyone.
These are some great tips from a great businessman. Your startup is going to be able to succeed much better if you follow these steps. Hopefully you are on this path already to creating the best company you could dream of. Maybe you aren't though and maybe you are stuck at trying to find how to fund your startup. Remember, you can do it through your retirement accounts. Let us show you how to invest your retirement account into your very own startup. It could change your life forever.
Author: Nick Barker